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Attachments: Ronnierott's 1 Hour Strategy
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Ronnierott's 1 Hour Strategy

  • #81
  • Feb 24, 2011 2:27am Feb 24, 2011 2:27am
Quoting angelofx
USD/CHF buy

u have your point there.
however, i wouldnt do that, because this system works on e extension of e trend, not retracement. even if it's a 86.4% fib retracement, users of this system will not reap its benefit.
therefore the beauty of this system is that, u'll encounter less whipsaw. if u really hit 100 SL, it means the bigger trend may be taking a turn.

ronnierott, would u comment on my understanding of your system?
  • #82
  • Feb 24, 2011 2:30am Feb 24, 2011 2:30am
Quoting kedridder
yup, PIPs will be stored in e pocket of whoever using this system.
warm warm inside e pocket

did u see this pair coming and traded it?
Missed it.

But then again I do tend to only look for setups between 0600 and 1800 GMT
  • #83
  • Feb 24, 2011 2:32am Feb 24, 2011 2:32am
Quoting Saidar
I like it, nice job

Will test it and see how it goes...

One question though, should we wait for the candle to close or can we open a trade on the current candle?

Also the TP and SL of 100 pips can be improved, this system should be a very high risk to reward ratio system.

Wait for the close
  • #84
  • Feb 24, 2011 2:32am Feb 24, 2011 2:32am
Quoting kedridder
u have your point there.
however, i wouldnt do that, because this system works on e extension of e trend, not retracement. even if it's a 86.4% fib retracement, users of this system will not reap its benefit.
therefore the beauty of this system is that, u'll encounter less whipsaw. if u really hit 100 SL, it means the bigger trend may be taking a turn.

ronnierott, would u comment on my understanding of your system?
I'd score you 90/100. To add to your point, you dont often get signals with profitable systems, thats why majority lose money in forex. Someone who trades this system would have gone back to bed(est) or go find something else to do rather than conjuring fake signals.
  • #85
  • Feb 24, 2011 3:19am Feb 24, 2011 3:19am
Quoting kedridder
u have your point there.
however, i wouldnt do that, because this system works on e extension of e trend, not retracement. even if it's a 86.4% fib retracement, users of this system will not reap its benefit.
therefore the beauty of this system is that, u'll encounter less whipsaw. if u really hit 100 SL, it means the bigger trend may be taking a turn.

ronnierott, would u comment on my understanding of your system?

Basically I follow my rules as stated.

Yes, in a trending market it's ideal and when it's sideways I like to think that the 15EMA will be close to or within the 50EMA channel.... Hence keeping me out of a trade.

I only trade the 4 pairings I listed, reason being, they move.

Saw a EUR/GBP chart posted up earlier. Me personally will not trade that pairing. For that pairing to move 100 pips in a relatively short time is a major feat.

Bottom line is.....COMFORT ZONE.

Everybody's comfort zone is different........
  • #86
  • Feb 24, 2011 3:19am Feb 24, 2011 3:19am
Any 1 in on the USD/CHF on the 7am candle.

The signal after Ronnies second trade on this thread
Patience and peserverance determine the outcome in any aspect of life.
  • #87
  • Feb 24, 2011 3:19am Feb 24, 2011 3:19am
What about this setup?

What shud i wait for?
Attached Image (click to enlarge)
Click to Enlarge Name: Eurusd.gif Size: 9 KB
  • #88
  • Feb 24, 2011 3:26am Feb 24, 2011 3:26am
Quoting forexgold
Any 1 in on the USD/CHF on the 7am candle.

The signal after Ronnies second trade on this thread

For me the candles low was too far away from the 15EMA, so I gave it a miss.

15EMA was at 0.9305
LOW of candle 0.9266

39 pips diff..... (30 max for this pair)... No Trade

Yesterdays USD/CHF just hit TP
  • #89
  • Feb 24, 2011 3:27am Feb 24, 2011 3:27am
Quoting freqzz
What about this setup?

What shud i wait for?

yup, i'll think it's valid. wick of e long bullish candle stands at 1.3766. i'll place a buy order at 1.3776. Once 1.3776 is hit, my Long order will be executed.
  • #90
  • Feb 24, 2011 3:29am Feb 24, 2011 3:29am
Quoting freqzz
What about this setup?

What shud i wait for?
For me it would be a no.

Reason being............. I prefer to see the MA on the MACD in the coloured area a bit more than what it is.

Again, it's all about comfort zone.
  • #91
  • Feb 24, 2011 3:45am Feb 24, 2011 3:45am
Quoting ronnierott
For me it would be a no.

Reason being............. I prefer to see the MA on the MACD in the coloured area a bit more than what it is.

Again, it's all about comfort zone.

do u mean the area which i circled black in e chart? it's too close to the MACD parameter? .
Attached Image (click to enlarge)
Click to Enlarge Name: eu.jpg Size: 181 KB
  • #92
  • Feb 24, 2011 3:54am Feb 24, 2011 3:54am
Quoting kedridder
do u mean the area which i circled black in e chart? it's too close to the MACD parameter? .

Yes, that's the area.

I do prefer to see it further in to the coloured area... like it is on the chart 8 hours ago.
  • #93
  • Feb 24, 2011 4:08am Feb 24, 2011 4:08am
Something so simple should be made a EA right? I dont have the time, but got the theory in my head.
  • #94
  • Feb 24, 2011 4:10am Feb 24, 2011 4:10am
Quoting triptizine
Something so simple should be made a EA right? I dont have the time, but got the theory in my head.

Fill your boots... I say.

Any feedback that could improve this strategy is most welcome.
  • #95
  • Feb 24, 2011 4:44am Feb 24, 2011 4:44am
5 STAR RATING ALREADY.

I'm impressed................ Thank you
  • #96
  • Feb 24, 2011 4:46am Feb 24, 2011 4:46am
Quoting ronnierott
Fill your boots... I say.

Any feedback that could improve this strategy is most welcome.
From a visual backtest over the last 2 weeks it looks good. I wont get a chance to EA this until maybe tomorrow night. But I should be able too

Great Thread so far!

Ok just need to firm up some of these rules and then we can rock and roll. I have a hr now, so I might see what I can do.

RULE 1. The MACD has to be the right colour for the direction of the trade and the MACD MA must be within the coloured area. (See image below) - Check

RULE 2. When the price hits the 15 EMA & bounces off or goes through the 15 EMA and reverses back it's a trade AS LONG AS:- - @ the last candle? or the current candle?

The high/low of the setup candle is NOT more than 50 pips away from the 15 EMA (30 for G/J & U/C) AND the 15 EMA is not within the 50 EMA channel. (See image below) - check

Entry is then 10 pips above/below the high/low of the setup candle.

Stoploss 100 pips

Takeprofit 100 pips

Go to breakeven when +50

If pending order is not activated and price goes the other way and closes above/below 15 EMA -- Cancel order and wait for next setup.

RULE 3. DO NOT TRADE WHEN THE 15 EMA IS INSIDE OR VERY CLOSE TO THE 50 EMA CHANNELS. - Define VERY CLOSE?
  • #97
  • Feb 24, 2011 4:51am Feb 24, 2011 4:51am
Quoting triptizine
From a visual backtest over the last 2 weeks it looks good. I wont get a chance to EA this until maybe tomorrow night. But I should be able too

Great Thread so far!
That's great, would be great too if the EA had an alert email and audio for manual traders too ....
  • #98
  • Feb 24, 2011 4:56am Feb 24, 2011 4:56am
OK I have made a beta indicator for the three moving averages. The 15MA is the signal MA with three colors for long,short or no trade.

There are some problems still left, there are gaps when the color changes not sure how to fix this.

Anyone here who is an indicator expert please fix the indicator.

This indi will only make your life easier it will not improve the system obviously, and is good for visual backtesting.

Enjoy
Attached File(s)
File Type: mq4 Ronnierot_System.mq4   4 KB | 866 downloads
  • #99
  • Feb 24, 2011 4:59am Feb 24, 2011 4:59am
Quoting stricky1967
That's great, would be great too if the EA had an alert email and audio for manual traders too ....
Here we go again with the EA
  • #100
  • Feb 24, 2011 5:02am Feb 24, 2011 5:02am
Quoting Saidar
Here we go again with the EA
The logic is solid, so a EA should also be solid.

Great Indicator btw!
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