Profit All Day System | Page 17 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

EA "Close all positions at profit target" closed all positions at loss ? 9 replies

Simple scalping system, all red or all green 101 replies

Day Trading system - Simple system to make money 51 replies

Profit All Day with Retracement - EA development 42 replies

Looking for EA to close all Buy Or all Sell trades when in profit 0 replies

Attachments: Profit All Day System
Exit Attachments

Profit All Day System

  • #321
  • Feb 2, 2011 7:07am Feb 2, 2011 7:07am
http://i56.tinypic.com/x5ywav.gif

This method is paying off. Thank you Cubbybgood.

Here's an avatar you may like: http://www.trangtriblog.com/avatar/a.../Lion-cub2.jpg
  • #322
  • Feb 2, 2011 7:51am Feb 2, 2011 7:51am
Quoting vijidas
have you really been trading for the last 4 years?

you risk 2 and reward is 1 which is bad. so if you have 4 winners and 2 losers that will break even. if you have 1 winner and 1 loser you will end up in loss. That is not good.

Also you are recommending risking 5% of account which is not good either

Also you copied and pasted the sell signal for buy signal and you got it wrong.

What's this all about?
Sorry for quoting an older post, but since this is post number 2 it might scare some newbies away.

Important thing , and one of the most difficult in forex, is to understand that if you risk MORE pips than you gain, you will have HIGHER win rate.

Think of it as this: Image stop loss at 100 pips and take profit at 1 pip. You win rate will be about 99%, because your take profit will be hit all the time (and of course there will be one loss that will wipe out all of your profits).

And to inverse it all: if you think you can risk 10 pips to make 100, you are probably in wonderland or you are a psychic who can predict time one hour ahead... you get the point. Your stoploss will be triggered 10 times in a row before you get one win...

Depeding on a system (break out, scalp etc) and the pair you trade, always target the 1:1 R:R, because it is the best one and only then modify it to the side that gives you better results with a certain strategy, time frame, pair.
I found a penny today. That's +100 pips for me.
  • #323
  • Feb 2, 2011 8:47am Feb 2, 2011 8:47am
Is this the right setup?

http://i56.tinypic.com/oh8rwz.jpg

Please correct me...
  • #324
  • Feb 2, 2011 9:03am Feb 2, 2011 9:03am
Quoting wira_chan
Is this the right setup?

http://i56.tinypic.com/oh8rwz.jpg

Please correct me...

is that 15 min time frame? if so yes, your black line should be a good entry
  • #325
  • Edited 1:21pm Feb 2, 2011 10:44am | Edited 1:21pm
Quoting whatfx
cubby



it will take a long while to recover these pips ! i still say the r:r is way too risky.
Any tactics would put your stopless there... So R:R does not even matter here, it would still be -38 pips.

Put your stoploss at break even if you are in 12 pips or take profit if you see it was a bad idea to enter that trade or you missed something.

Never let a winner turn into a loser: one of the first rules one learns in forex.

By the way, Cubby, if trading on M5, do you wait for M5 Emas to cross or those on higher TF to close the 30%?

By the way, losing 4 times in a row is not 20%, but 18.54%.... To those who seem not to know math^^ Each time you lose your acount is smaller thus next 5% will be less dollars...


I made a screen about Emas: However, it is still better to use standard emas, as you need it to for the 30% of your units that are running in profit (as I undertood that)
Attached Image (click to enlarge)
Click to Enlarge Name: emas.jpg Size: 368 KB
I found a penny today. That's +100 pips for me.
  • #326
  • Feb 2, 2011 3:19pm Feb 2, 2011 3:19pm
http://i56.tinypic.com/2wc4749.gif

Finding plenty of trades with the Profit All Day(PAD) and CCI multimeters. Thanks for this method, Cubbybgood.
  • #327
  • Feb 2, 2011 3:46pm Feb 2, 2011 3:46pm
Hi TJFXTrader,

Do you mind sharing your indis for the multimeters please.

Thanks in advance,

NB
  • #328
  • Feb 2, 2011 5:10pm Feb 2, 2011 5:10pm
Quoting Cubbybgood
This is what I'm talking about...

The candle that I lable as the lowest low in the pic is actualy not a solid lowest low because it's only.02 pips below the other candles. make sense?
Yes, thanks for your clear explanation
  • #329
  • Feb 2, 2011 5:14pm Feb 2, 2011 5:14pm
Quoting Cubbybgood
guys and girls,

if there is any question...
You forgot to mention that the lowest low HAS to be at least 1 pip (lower TFs) or 3-10 pips (higher TFs) lower than the two candles before and after it. Vice versa for the highest high.

Could you please take the time to update your first post with this information?

It will help you manage this thread instead of repeating yourself over and over again
  • #330
  • Feb 2, 2011 5:55pm Feb 2, 2011 5:55pm
Hi everyone, what a great forum, as a relative newwbie to fx please forgive my ignorance but I'm hoping I've got the hang of this system.
Would the attached picture be correct for a long setup?
Attached Image (click to enlarge)
Click to Enlarge Name: profit al day.gif Size: 38 KB
  • #331
  • Edited 6:35pm Feb 2, 2011 6:19pm | Edited 6:35pm
Quoting forex1962
Hi everyone, what a great forum, as a relative newwbie to fx please forgive my ignorance but I'm hoping I've got the hang of this system.
Would the attached picture be correct for a long setup?
Hi,

I even looked at 15min chart for that period of 1 Februar it looked great there.

However, I would use the NEAREST swing low, which is 27 pips away from entry. TP would be 13 pips.

The Swing Low you chose is 46 pips away which in my opinion and experience is a bit far for 5M chart. While your TP would have been hit at 23 pips some time later, I would have used the nearest swing low (for safety).

Also put the entry line 1 pip above swing high not on the swing high.

Take profit line must be higher (for 23 pips) I just checked. Your take profit line is at about 17 pips. Your TP would be higher and would have been hit 15 minutes later.

In the end, if there were no nearest swing low within 35 pips (max I use for this set up for 5M), I would simply not take the trade. By the way 30 pips equal to 2% of my account.

And you can always let 30% of profits run...
Attached Image (click to enlarge)
Click to Enlarge Name: tptptpt.jpg Size: 117 KB
I found a penny today. That's +100 pips for me.
  • #332
  • Feb 2, 2011 7:11pm Feb 2, 2011 7:11pm
Quoting forex1962
Hi everyone, what a great forum, as a relative newwbie to fx please forgive my ignorance but I'm hoping I've got the hang of this system.
Would the attached picture be correct for a long setup?
Hi Forex1962...

Your entry point is good, but I believe your stoploss should be under the next fractal higher up, below the most recent swing low. Either way, looks like a winning trade.

EDIT: Oops, looks like ReaM already answered in more detail.
"Be the change that you wish to see in the world." --Gandhi
  • #333
  • Feb 2, 2011 7:34pm Feb 2, 2011 7:34pm
This is still a work in progress, but it shows what I am doing.

1. The light blue squares on the high and low of a bar show Cci at >90 of <-90.
2. The red and green lines so the last Swing High and Swing Low.
3. The Lime Green solid line shows the upper time frame status with x nbr of bars going up and x nbr of bars where the gaps between the 2 upper TF MAs are expanding with each bar. x can be specified (2,3,4,etc.)
4. The Yellow solid line shows the upper time frame status with x nbr of bars going dn and x nbr of bars where the gaps between the 2 upper TF MAs are expanding with each bar. x can be specified (2,3,4,etc.)
5. The dotted Pink line is the upper TF 3 MA and the dotted LightBlue line is the upper TF 5 MA.

And yes - I cheated. The two upper TF MAs are actually 9 MA and 15MA which is a 3 factor from the base TF and the upper TF ( 5 and 15 ), but the results are the same, or nearly the same. Factor for 15 and 60 would be 4 and the factor between 60 and 240 would be 4, etc.

Will keep you posted.

Regards,

KingHigh
Attached Image (click to enlarge)
Click to Enlarge Name: profallday.gif Size: 32 KB
  • #334
  • Feb 2, 2011 7:37pm Feb 2, 2011 7:37pm
Quoting KingHigh
1. The light blue squares on the high and low of a bar show Cci at >90 of <-90.
Should be:

1. The light Blue squares on the high of a bar show Cci at > 90 and the Pink squares on the high of the bar show Cci <-90.

Regards, KingHigh
  • #335
  • Feb 2, 2011 9:49pm Feb 2, 2011 9:49pm
cubby, can you tell us what you look for if you think that the trend is about to "die"... I mean, if you missed the first setup in a short trend would you ever consider the next one? or do you wave count ? curious also if you ever tried this with no cci and just MA/....and
  • #336
  • Feb 2, 2011 10:34pm Feb 2, 2011 10:34pm
Quoting sree1
Hi TJFXTrader,

Do you mind sharing your indis for the multimeters please.

Thanks in advance,

NB
They aren't mine. I found them on another site.
  • #337
  • Feb 2, 2011 11:44pm Feb 2, 2011 11:44pm
Quoting 4XWeezal
cubby, can you tell us what you look for if you think that the trend is about to "die"... I mean, if you missed the first setup in a short trend would you ever consider the next one? or do you wave count ? curious also if you ever tried this with no cci and just MA/....and
yes, you can tell when things are getting flat buy the spacing of the ema's. If they are really close together and are kinda flat this tells you that it's probably not the best time to trade.

I've never lost more then 2 trades in a row per pair with this system.
  • #338
  • Edited 5:04am Feb 3, 2011 2:25am | Edited 5:04am
Sorry if this ones already been answered, but looking at the Cubby's rules can we not use the 5m for a buy, refering to the 15m, or is this only for a sell?
I'm right with the upward bit aren't I? and lowest low?


Sell entry on 5 minute.
break of the last lowest low. check next highest time frame which is 15 min to see if there is good spacing between the EMA's heading downward. If there is good spacing and EMA's are heading down then you have a great entry.

Buy entry on 15 minute.
break of the last highest high. check next highest time frame which is 1 hour to see if there is good spacing between the EMA's heading downward (upward?). I do not confirm trades on the 30 minute time frame. If there is good spacing and EMA's are heading down (up) then you have a great entry.

Tp and SL.
SL is 3 pips above (below) the last highest high.(lowest low).

One bit I can't quite get the logic of is, when CCi is over +90 wouldn't this mean overbought and a sell signal, same in reverse for buying (-90 a buy signal?).


Would this be a fair summary:

Buy on 5 m chart at latest swing high when CCI above 90 and EMAs all heading up and spacing apart.
Check for same signals on 15m chart.
Stop loss 3 points below last swing low, 70% of Take profit at ½ Stop loss value 30% at 3 EMA crossing down through 13 EMA (on lower time frame).

Sell on 5 m chart at latest swing low when CCI below -90 and EMAs all heading down and spacing apart.
Check for same signals on 15m chart.
Stop loss 3 points above last swing high, 70% of Take profit at ½ Stop loss value 30% at 3 EMA crossing up through 13 EMA (on lower time frame).
  • #339
  • Feb 3, 2011 3:47am Feb 3, 2011 3:47am
GU 15min with MA periods set to reflext the hrly chart. Nice signal earlier breaking the Asian range high and for any news traders a break of the Frankfurt swing high 15mins ago...i wasn't around to trade them.
Attached Image (click to enlarge)
Click to Enlarge Name: 3rs Feb GU 1.PNG Size: 32 KB
  • #340
  • Feb 3, 2011 4:42am Feb 3, 2011 4:42am
Quoting forex1962
Sorry if this ones already been answered, but looking at the Cubby's rules can we not use the 5m for a buy, refering to the 15m, or is this only for a sell?
I'm right with the upward bit aren't I? and lowest low?


Sell entry on 5 minute.
break of the last lowest low. check next highest time frame which is 15 min to see if there is good spacing between the EMA's heading downward. If there is good spacing and EMA's are heading down then you have a great entry.

Buy entry on 15 minute.
break...
Post 318 will explain...you don't use the lower TF emas as entry criteria.
0 traders viewing now