Dreamliners’ MPAS (Mechanical Price Action Strategy) System | Page 2 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Dreamliners’ MPAS EAs, Indicators, etc 298 replies

Simple, pure mechanical H4-System, EA needed 70 replies

Two-Stroke System (Mechanical Price Action +300 pips per month) 118 replies

Intraday Mechanical System Strategy 0 replies

Spreading risk with a mechanical trading strategy/s 6 replies

Attachments: Dreamliners’ MPAS (Mechanical Price Action Strategy) System
Exit Attachments

Dreamliners’ MPAS (Mechanical Price Action Strategy) System

  • #21
  • Edited 10:34am Dec 24, 2010 10:33am | Edited 10:34am
.
  • #22
  • Dec 24, 2010 10:36am Dec 24, 2010 10:36am
The screenshot does not, but the trading plan does. Did you read the trading system?

I don't know where I would have lost, as those trades were done through backtesting, not live trading, as mentioned in my explanation posts.

This is why I have posted this system on here, to take a trading method that seems profitable through backtesting, trade it live, and see what results we get. I also wanted comments from other traders.

P.S. No need to post twice.

Quoting smilee89
.
  • #23
  • Dec 24, 2010 10:37am Dec 24, 2010 10:37am
Hi Dreamliner,

I saw on the doc you posted a screenshot with alerts editor.

Is this a alert editor when price comes to a certain price you put in if so it would be nice if you can share it it would help me in my trading.

Thanks Ingmar..
  • #24
  • Dec 24, 2010 10:45am Dec 24, 2010 10:45am
Yes, the alert will happen, either through email or SMS (or both) when price reaches a certain point.

I DID share it, read the post about the alerter again and you will see that I gave you the name of the alerter so you could search for it on Google and find it.

Quoting ingmarforex
Hi Dreamliner,

I saw on the doc you posted a screenshot with alerts editor.

Is this a alert editor when price comes to a certain price you put in if so it would be nice if you can share it it would help me in my trading.

Thanks Ingmar..
  • #25
  • Dec 24, 2010 11:01am Dec 24, 2010 11:01am
Quoting Dreamliner
The screenshot does not, but the trading plan does. Did you read the trading system?

I don't know where I would have lost, as those trades were done through backtesting, not live trading, as mentioned in my explanation posts.

This is why I have posted this system on here, to take a trading method that seems profitable through backtesting, trade it live, and see what results we get. I also wanted comments from other traders.

P.S. No need to post twice.
Let's say current bar reached lower than previous bar. As long as you don't know whether the next bar is going up or down, how do you know to go Long or Short when the current bar is closed?
  • #26
  • Dec 24, 2010 11:05am Dec 24, 2010 11:05am
Quoting smilee89
Let's say current bar reached lower than previous bar. As long as you don't know whether the next bar is going up or down, how do you know to go Long or Short when the current bar is closed?
If the current bar reached 10 pips lower than the open, I place a pending Buy order at the open. If the market climbs up to take the pending order, backtesting shows that the majority of the time it will continue the trend and close up.

Again I say "backtesting shows" because I have not traded this live, except for one profitable trade this morning.
  • #27
  • Dec 24, 2010 11:09am Dec 24, 2010 11:09am
Quoting smilee89
Let's say current bar reached lower than previous bar. As long as you don't know whether the next bar is going up or down, how do you know to go Long or Short when the current bar is closed?
hi i think at the close of the bar you would be out with tp if it didnt hit sl in a trend you would go in direction and in a range you go opposite of last bar direction
  • #28
  • Dec 24, 2010 11:13am Dec 24, 2010 11:13am
Quoting sidhujag
hi i think at the close of the bar you would be out with tp if it didnt hit sl in a trend you would go in direction and in a range you go opposite of last bar direction
Yes. At the end of any bar set your alerts. Set one alert for 10 pips above the open of the current bar, and one alert for 10 pips below the open of the current bar.

Let's say the alert triggers at 10 pips above the open. That tells you to set a Sell Stop order at the open.

Let's say the alert triggers at 10 pips below the open. That tells you to set a Buy Stop order at the open.
  • #29
  • Dec 24, 2010 11:15am Dec 24, 2010 11:15am
Quoting Dreamliner
If the current bar reached 10 pips lower than the open, I place a pending Buy order at the open. If the market climbs up to take the pending order, backtesting shows that the majority of the time it will continue the trend and close up.

Again I say "backtesting shows" because I have not traded this live, except for one profitable trade this morning.
I am confused, though I read your rules more than twice.

Please upload a chart picture showing the "current bar", "Open" (of which bar?),
how should look the "previous bar" regarding the current bar.
  • #30
  • Dec 24, 2010 11:22am Dec 24, 2010 11:22am
Quoting smilee89
I am confused, though I read your rules more than twice.

Please upload a chart picture showing the "current bar", "Open" (of which bar?),
how should look the "previous bar" regarding the current bar.
My friend, you are really confused, and need a picture, showing the "Current Bar Open?" OK, attached is a picture of the current bar open.

All you are concerned with is the current bar. After it opens, set your alert for 10 pips above the open and 10 pips below the open. If it reaches 10 pips above the open, set a pending sell order at the open. If it reaches 10 pips below the open, set a pending buy order at the open.
Attached File(s)
File Type: doc Open.doc   782 KB | 1,805 downloads
  • #31
  • Dec 24, 2010 11:47am Dec 24, 2010 11:47am
Quoting Dreamliner
My friend, you are really confused, and need a picture, showing the "Current Bar Open?" OK, attached is a picture of the current bar open.

All you are concerned with is the current bar. After it opens, set your alert for 10 pips above the open and 10 pips below the open. If it reaches 10 pips above the open, set a pending sell order at the open. If it reaches 10 pips below the open, set a pending buy order at the open.
To make it clear:

When bar is opened, you wait to see if it goes 10 pips above its Open price or below it.
If it goes 10 pips up, you place a sell stop order at the Open price for 20 pips Take Profit.

If it goes 10 pips down, you place a buy stop order at the Open price for 20 pips Take Profit.

Stop Loss = 10 pips.

Right?
  • #32
  • Dec 24, 2010 11:57am Dec 24, 2010 11:57am
Now, what about the previous bar(s)?

I see in the system rules some references about it.
  • #33
  • Dec 24, 2010 11:58am Dec 24, 2010 11:58am
Yes, that is exactly right.

Quoting smilee89
To make it clear:

When bar is opened, you wait to see if it goes 10 pips above its Open price or below it.
If it goes 10 pips up, you place a sell stop order at the Open price for 20 pips Take Profit.

If it goes 10 pips down, you place a buy stop order at the Open price for 20 pips Take Profit.

Stop Loss = 10 pips.

Right?
  • #34
  • Dec 24, 2010 11:59am Dec 24, 2010 11:59am
Quoting smilee89
Now, what about the previous bar(s)?

I see in the system rules some references about it.
I use "previous bar's close" and "current bar open" interchangeably.
  • #35
  • Dec 24, 2010 12:07pm Dec 24, 2010 12:07pm
Quoting Dreamliner
I use "previous bar's close" and "current bar open" interchangeably.
Gotcha!
  • #36
  • Dec 24, 2010 12:33pm Dec 24, 2010 12:33pm
Dreamliner....how you doing with those binarys? Hope you are well...let me take a look at your system...hope it's a good one.
  • #37
  • Dec 24, 2010 12:39pm Dec 24, 2010 12:39pm
Ferndog, good to hear from you.

I do not trade binaries any longer because I had no positive expectancy in the "system". The reward to risk was nowhere near what it should have been. I have learned that R:R is extremely important in trading and will most likely never trade another system without a good R:R in place.

One of the greatest things for me has been getting "Trading Journal Spreadsheets" which shows me in a second what my R:R is, what my expectancy is (either positive or negative) what my return is, etc. etc. In fact it was this very tool that convinced me to stop trading binaries, at least in the particular method I was using.

This system here has an "edge" in the R:R and I believe, though have not proven it to be true yet, in positive expectancy.
  • #38
  • Dec 24, 2010 12:48pm Dec 24, 2010 12:48pm
I wanted to take a brief second and explain my reasoning for this strategy:

Most people will tell you to place a sell limit order a pip or two below the low of the last bar, assuming if price drops below the low that a breakout will occur and we can ride the price down.

This can certainly be true, which is why this recommendation is part of the "conventional wisdom" of trading.

However, consider where this "conventional wisdom" has you place your stop loss (your BUY order): usually a few pips above the low just in case the breakout was false and the price returned and went higher.

So.....for any price bar, there are a number of buy orders sitting just above the low of the bar. This system attempts to ride the market up (or in case of a false break to the high, ride the market down) on these orders.

I hope this explains what I have perceived to be an "edge" in trading, and is the foundation of this method.
  • #39
  • Dec 24, 2010 2:16pm Dec 24, 2010 2:16pm
Quoting lillelise
Merry Xmas
You need to clarify exactly who is a scammer on the thread you posted on your website. You mention the 3MW thread, but do not say who is the scammer on that thread. Is it the author/originator of the thread, or one of the posters?

Please, be more specific, rather than merely giving out the URL to a thread.
  • #40
  • Dec 24, 2010 2:18pm Dec 24, 2010 2:18pm
As of today's date, December 24, 2010, I have clarified the wording on the initial rules to the system. If you read the initial rules before this date, please re-read if you would like to. If you read the rules on or after this date you have the updated rules. I only changed the wording for clarification; the system remains the same.
0 traders viewing now