Are you a trend trader or a counter-trend trader? 29 replies
What does it mean to trade with the trend - Define trend? 47 replies
Trading System - Trade with the Trend 5 replies
Multis-trend trade EA for scalp on short trend 27 replies
Would you trade this system? New system #2. 10 replies
DislikedI'd like to share my test results from just this month. I know that's not a good comprehensive sampling but I'm tired of looking at the charts just now. I went through all 27 or 28 currencies that I have in my list and applied these rules gathered from Duffy and Bob:
In an uptrend with 8MA above 60MA, wait for price to break below the 8MA and then Buy on a cross above, sometimes on the same bar. I do not wait for a close. However, I did filter out trades where the 8MA was too steep an angle counter to the trend. Right now that's a visual thing...Ignored
DislikedHow do you enter when the set-up and the entry are on the same bar? Let's take a long as an example. Price moves below the 8 during the bar, and then crosses back up. Do you wait for it to go up above the 8 a certain number of pips? Do you go in at the slightest re-cross?Ignored
DislikedYes, that's a bit trickier. In my visual test I just looked at it and said, "it went down this far, set the SL below it, enter at 8MA." In reality, I'm trying to determine a trigger, like 5 or 10 or 20 pips below the 8MA first, THEN set the Buy EA to enter on an 8MA cross. Or you could just wait until the next bar open to place a market order, if it's above the 8MA. I just saw a number of trades that only dipped below for one bar and then took off.
In my test the profitable 4H bars (GMT) were trades opened:
1200 - 660 pips (when I'm asleep!...Ignored
DislikedYes, that's a bit trickier. In my visual test I just looked at it and said, "it went down this far, set the SL below it, enter at 8MA." In reality, I'm trying to determine a trigger, like 5 or 10 or 20 pips below the 8MA first, THEN set the Buy EA to enter on an 8MA cross. Or you could just wait until the next bar open to place a market order, if it's above the 8MA. I just saw a number of trades that only dipped below for one bar and then took off.
In my test the profitable 4H bars (GMT) were trades opened:
1200 - 660 pips (when I'm asleep!...Ignored
DislikedThese are not pips this is 5 digit broker. You should post these as 66.0 49.9 47.0 etc. The definition of a pip does not change when you add a digit.Ignored
DislikedActually, Bob, my broker is a 4 digit broker, Forex.com. And the 660 pips mentioned is the total pips, not the average, from my visual backtest for all trades that opened during that particular 4H bar during the quoted period (i.e. all trades entered on ANY pair during the 1200-1600 bar (yes Duffy) from Jan 6 to Jan 21), based on 1 minimum lot, in my case 0.01, being 1 pip. See the spreadsheet. Although as I mentioned, the new margin requirements prohibit me from risking a full 1% so will have to go 1/2% or less.
P.S. Bob, can you tell me how...Ignored
DislikedThese are not pips this is 5 digit broker. You should post these as 66.0 49.9 47.0 etc. The definition of a pip does not change when you add a digit.Ignored
DislikedIf you put the double slash before the 'if' statements // the code will not operate while the program is running.Ignored
DislikedNot sure what code you mean, Bob. I don't have any EAs running and I even deleted the TMA indicator but I'm still getting the alerts. Can you tell me where to look? txIgnored
DislikedI'm assuming that these are the start times for the periods involved. So that 0000 is 0000 to 0400. Is that correct?
How many of the 660 pips would you catch if you used Bob's 8cross EA before you went to bed? The question applies more generally. Many set-ups take several bars before the entry occurs. You would get in on any set-up that takes more than 2 bars.Ignored
DislikedSorry about this
But what is this 6.00 system people speak of. I only see a 5.XX?
thanks!
negimaIgnored
DislikedHi guys,
I am looking at both this and the 5.0 system. Not sure which one to start off with.
Anyways, I read the manual and applied the templete. Problem is I am not sure how to trade this system. reason being. Price is no where near the red or green bands when the trend is up or down. So does this mean there is no trades now? I am compare the setups from the manual to what is happening real time. For example, Eur/USd. I dont think there is any way to trade that as of now with this system.
I am just a newb (going on 7 years of struggle...Ignored
DislikedHey, Duffy (and others),
I have been trying to quantify the "too steep" idea for the 8MA and after lots of tedious data entry in Excel, here is what I'm considering. This can be coded into an EA, in fact Steve's does most of this but I don't know if I can do it. Most of the parameters could be external variables that could be changed by the trader. The numbers below are my first thought for the EURUSD; other currencies would probably be different.
If UT (8MA above 60) and price closes below 8MA and then price crosses 8MA AND the difference...Ignored