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  • #881
  • Feb 8, 2011 10:34am Feb 8, 2011 10:34am
Quoting dutchsignals
Do we have a valid set up in the gbp/usd ??
15 min is up// 5 min above 90

entry 1.6100
stoploss 1.6054 Last swinh low
TP 1,6123..
qualifies but as per earlier discussion, be mindful of time of day....the London boys are heading out the door ...probablity of a successful trade reduces.
  • #882
  • Feb 8, 2011 11:37am Feb 8, 2011 11:37am
Quoting dutchsignals
Do we have a valid set up in the gbp/usd ??
15 min is up// 5 min above 90

entry 1.6100
stoploss 1.6054 Last swinh low
TP 1,6123..

Here is Cubby's response to his trading times. However his entry from today was earlier.

http://www.forexfactory.com/showpost...&postcount=229

Read his post on last or the one before last page (p.57 or 58). He clearly writes there not to trade in dead market. After London there is usually dead time. You can trade in any time of day, as long as conditions are met and market moves. London and NY sessions are correlated with good movement of price. Asian sessions are sometimes good too, but I never traded at that time.

I recommend London open - London close (last trade usually at least half an hour before close, sometimes hour). Cubby recommends NY open.

Today I stopped trading an hour before London close and I am satisfied that I am in plus! I made about +2.2% on my account today, this is huge for one day. My bank gives me that after a year of waiting^^. I traded with 1% risk (it means I make 0.5% if I win) today and will continue doing so until I get better. There is always stuff to improve. If you make 1% per day for a year, you gonna have 890% return in that year, which is I think nearly impossible. So trying to make more than 1% is greed and leads nowhere. Take max two trades, win or loss and see for yourself.
I found a penny today. That's +100 pips for me.
  • #883
  • Feb 8, 2011 12:20pm Feb 8, 2011 12:20pm
Quoting ReaM
Here is Cubby's response to his trading times. However his entry from today was earlier.

http://www.forexfactory.com/showpost...&postcount=229

Read his post on last or the one before last page (p.57 or 58). He clearly writes there not to trade in dead market. After London there is usually dead time. You can trade in any time of day, as long as conditions are met and market moves. London and NY sessions are correlated with good movement of price. Asian sessions are sometimes good too, but I never traded at that time.

I recommend...
Congratulations, I'm thinking of moving to the higher time frames 1h/4h and adding some more pairs.
I like your idea of taking only two trades, but finding the best two, or waiting all day and not taking them, is my problem.
  • #884
  • Feb 8, 2011 12:37pm Feb 8, 2011 12:37pm
Quoting forex1962
Congratulations, I'm thinking of moving to the higher time frames 1h/4h and adding some more pairs.
I like your idea of taking only two trades, but finding the best two, or waiting all day and not taking them, is my problem.
It is actually Cubby's idea to take two trades per pair only. It makes sense, especially if they are both winner there is no need to risk more.

5M is better for testing the strategy. It gives you many entries to take and usually the rule is: whatever works on 5M should work better on higher TF.

I tested 1M and it is horrible, it has tooo many fake outs, but still tradeable. M5 seems more relaxed and certain.

1H is best, but there may be DAYs without a proper set up. M15 and H1 are Cubbybgood's favorite, so I think we should stick with them.

I think it is easy to see the best trade. I will post some time later what a good entry might look like. It looks like a fishing pole that has fish on it, sort of curved (for short sale)

I will make a screen later. Need to eat and shower and this and that. One gets all sweaty when it's about money^^ hahaa
I found a penny today. That's +100 pips for me.
  • #885
  • Feb 8, 2011 2:34pm Feb 8, 2011 2:34pm
Quoting forex1962
Congratulations, I'm thinking of moving to the higher time frames 1h/4h and adding some more pairs.
I like your idea of taking only two trades, but finding the best two, or waiting all day and not taking them, is my problem.
I hope its Ok to post this information here, if not I can start a different thread as this information talks about an EA I am working on that uses this system and I see this forum is devoted mainly to using this system manually.
I have been doing some testing on a demo account using the H4 and H1 time frames with this EA. This system looked like it would work as an automated sytem as the rules seemed carved in stone. The M5 and M15 seemed to be giving more trades than I wanted so I moved up to the higher time frames to out some noise. The shorter time frames may work well with just an alert system and manual trades and just doing some scalping in between the longer time frame longer trades. Too early to tell yet as I am still tweaking the EA, I am still working on the partial close as my first take profit point is hit and then letting the remainder of the trade run. I have been thinking about adding maybe one more trigger in the M15 to get the best entry when the H4 and H1 trigger a buy or sell. Forward testing takes time, but if it looks like this is going to work out and I get all the bugs out I will post the EA for everyone to use.
Here is an example of a trade that triggered today and is still running.

Attached Image (click to enlarge)
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  • #886
  • Feb 8, 2011 3:36pm Feb 8, 2011 3:36pm
Cubby

just found yourgreat thread ,i totally believe in this method and will follow along if you dont mind

thanks
  • #887
  • Feb 8, 2011 3:43pm Feb 8, 2011 3:43pm
This is amazing you are making EA!!!

These are possible entries:

The second trade EA will not be able to take, but I would, because candle closed there and left no shadow.

There are MANY fake outs, I avoided them by mentally keeping 30% run without reentering while they run.

Look 25 26 27 January you would have been most likely stopped if you used nearest high as SL. I think Cubby would used the high that is much higher up there but how do you tell EA to do that? About those January days: they all can turn out to be losers, but if you had the 30% running from last trade from the top earlier, your 30% would still be running as EMAs have not crossed yet which would have kept you from reentering .

The same about the third trade. You see there many fake outs coming after you took the third trade and have your 30% running: if you just had your 30% running, you would have avoided reentering in that whipsaw on 6th 7th January.

To trade successfully on that screenshot, one would need to trade only fresh and good enties, like the first three trades, and keep 30% running.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpchf.jpg Size: 271 KB
I found a penny today. That's +100 pips for me.
  • #888
  • Feb 8, 2011 3:47pm Feb 8, 2011 3:47pm
Quoting FOURX
Cubby

just found yourgreat thread ,i totally believe in this method and will follow along if you dont mind

thanks
May I ask? You've been longer here on FF than I, did you see people actually say that? Like I believe in your method? I haven't!
I found a penny today. That's +100 pips for me.
  • #889
  • Feb 8, 2011 3:53pm Feb 8, 2011 3:53pm
Things I do.

Trade NY session.

I do cherry pick my trades but the reason for this is because if I see a set up forming on a higher time frame I will always wait and take it over the lower time frames

I love the 15 min and 1 hour time frames for trading. 4 hour I use less risk because trades can be in for days.

I use the 5 minute as a last resort if there are no other set ups. You may notice that the 5 min swing levels hold better when the trend is stronger. If I see the trend is strong I know it's safe to enter a 5 min trade. I don't need to tell you what the trend looks like when its strong. Figure this out yourself.

Hint. look a few hours in the past to see if the swing levels on the 5 min are holding with the trend.

It's really sad how much you guys feel like you have to analyse this system. You keep trying to make it more complicated.

Cubbygood,
Thanks for popping in to explain the way you trade, I'm sure it will help the people trying to trade this system.

Your quote "It's really sad how much you guys feel like you have to analyse this system. You keep trying to make it more complicated."
shows a little arrogance, as people from reading this thread are trying to understand why they had three losses in a row. Now as you have pointed out above, you only trade the NY session, mainly the 15m/1hr timeframe, very rarely the 5min/15min.

I'm not sure whether you know but if you did take every 5 min signal throughout the day, as people are contemplating with EA's, is the system still profitable?

Now if your added components to the system add to the success then maybe as the system's author you should be clearer of the more discretionary rules. From reading the whole thread, I have a clear understanding of the original rules but to take your extra rules further,
1. NY session only
2. 15min/1hr timeframe predominately
3. mostly two trades per pair (EUR & GBP) for the day
4. the 30% runner adds the cream to system.

My interest is, I actually see merit in the base rules, because your are trading with the trend, but whilst you say some are complicating it with their own addititives, from what I'm reading from your extra rules, your little addititives are the one's making your trading profitable. It's just your not using indicators, where others maybe comfortable to use them to filter out the noise eg Fibs, S/R..

I mentioned earlier I don't trade this system as I haven't tested it to validate it, but now I understand a few more of your discretionary rules I'm sure I & others can understand your better results and focus on the areas that make the system profitable.

thanks again for your time explaining things...

Cheers
  • #890
  • Feb 8, 2011 5:30pm Feb 8, 2011 5:30pm
hey Cubby

do you still only trade e/u and g/u?
  • #891
  • Feb 8, 2011 5:30pm Feb 8, 2011 5:30pm
Great news Seller9! I was hoping that someone might attempt an EA. If you want anyone to help you test it, just let me know. I test lots of EAs and have several computers I can run them on.

SirWolf

Quoting seller9
I hope its Ok to post this information here, if not I can start a different thread as this information talks about an EA I am working on that uses this system and I see this forum is devoted mainly to using this system manually.
I have been doing some testing on a demo account using the H4 and H1 time frames with this EA. This system looked like it would work as an automated sytem as the rules seemed carved in stone. The M5 and M15 seemed to be giving more trades than I wanted so I moved up to the higher time frames to out some noise. The shorter...
Believe and Achieve!
  • #892
  • Feb 8, 2011 6:49pm Feb 8, 2011 6:49pm
Market slow right now so haven't seen if the order closure works or not. Below is what happened when I changed some code and then restarted the EA. I have it running on 9 pair so when I launched MT4 it took some trades, normally you wouldn't let it do this and keep the EA turned off untill you see a nice place on the chart to start it up. At this time the EA is set to take only one trade and then disables itself untill you reactivate it. It will take a trade at the end of a trend if all conditions are met when first started, so you have to pay attention to where you turn it on. I also have a Dash Board that works with the EA so you can monitor mulitple pairs at once, it collects data from the charts the Ea is on. Below are a couple screen shots, the first are the trades it took when started back up a little while ago after some code update.. This does not mean these are good trades, they just kicked off when EA was started back up without looking for a good spot to turn it back on. The EA also can be set to start up at a predetermined time, so you can trade only the most active time period if you want. The second screen shot is the Dash Board, don't pay any attention to the Profit results as I have been turning the EA on and off all day as I fix the code so I close all trades before I do this and they could be in DD. Its only a demo account so I don't want to wait until they close to try the code fixes. The ones presently running I will let run now so I can see if my order close code will work. Anyone have any ideas as to what could be added to avoid any bad trades please let me know. At this time the EA sticks to the basic rules using the H4 and H1 in these examples. These can be changed to any time frame in the settings if you like. I may try the H1 and M15 once I get the bugs out. The M15 and M5 just seemed to be taking to many trades and may be best suited to manual trading.

Edit: The TP and SL are the ones that get sent with the trade to the Broker, these are not the ones the EA uses. These are shown here set at 100 PIPs each, but can be set to what ever you want.
Attached Image (click to enlarge)
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Attached Image (click to enlarge)
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  • #893
  • Edited 9:27pm Feb 8, 2011 9:07pm | Edited 9:27pm
cubby's (style) is a good understanding of the price moves in forex--so thanks. it helped.......
.... but if ea I think we may want to use a different thread or cubby will get hijacked. Also, the ea--- while relatively simple will likely need some more bar filters to get a good market look versus taking every trade on 25 pairs thinking its a gold mine. forex aint that easy. Something that will take some time to program to get the bugs worked out. ... ...I think manual is much better so I hope the thread doesn't disentegrate into a zillion indicators but focuses on some market edges that help pick the right setup. Runnin an ea with just the current parameters will not pick out how far in the trend and be a negative payout.
  • #894
  • Feb 8, 2011 10:37pm Feb 8, 2011 10:37pm
Can't wait for the EA! This will allow us to backtest many settings.
  • #895
  • Feb 8, 2011 10:45pm Feb 8, 2011 10:45pm
Quoting 4XWeezal
cubby's (style) is a good understanding of the price moves in forex--so thanks. it helped.......
.... but if ea I think we may want to use a different thread ........Runnin an ea with just the current parameters will not pick out how far in the trend and be a negative payout.
I agree, a different thread should be used for developing an EA for this system.

TF
  • #896
  • Feb 8, 2011 11:23pm Feb 8, 2011 11:23pm
I'm looking fw on the EA
  • #897
  • Feb 9, 2011 12:16am Feb 9, 2011 12:16am
Damn.....

Good job on that regardless of the outcome.

Quoting seller9
Market slow right now so haven't seen if the order closure works or not. Below is what happened when I changed some code and then restarted the EA. I have it running on 9 pair so when I launched MT4 it took some trades, normally you wouldn't let it do this and keep the EA turned off untill you see a nice place on the chart to start it up. At this time the EA is set to take only one trade and then disables itself untill you reactivate it. It will take a trade at the end of a trend if all conditions are met when first started, so you have to pay attention...
"Even if you fall down face first, you still went forward."
  • #898
  • Feb 9, 2011 3:36am Feb 9, 2011 3:36am
Nice thread you got here. Congrats!

I am trying to implement the idea of cubby to the 1min chart and wanted to ask you all if there is a slightly different fractal indicator to be found somewhere?
The usual fractals is using a 5 bar/candle sequence. Does someone have (or could code) one using a 7 bar sequence?

Thanks in advance!
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  • #899
  • Feb 9, 2011 3:40am Feb 9, 2011 3:40am
...both EU and GU seeking direction around their daily pivot levels....will be waiting for price confirmation out of these zones before taking setups.
  • #900
  • Feb 9, 2011 4:00am Feb 9, 2011 4:00am
Quoting sidefx
...both EU and GU seeking direction around their daily pivot levels....will be waiting for price confirmation out of these zones before taking setups.
I was looking for a 3660 EU but never got there
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