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A "new" simple system based on MA

  • #41
  • Mar 21, 2011 3:06am Mar 21, 2011 3:06am
...about your rules ? I can see 4 EMAs on your chart but you talk only about 20, 60, and 200. Also is it Exponential or Simple MAs ? Heiken Ashi should be a good tool for exits maybe...

Quoting rossobonks
I use a similar system but with Heiken Ashi candles. On my chart we have the following emas - 20, 60 (1hr 20) and 200 (1hr 50ma) plus a slow stoch of 13,3,3 to identify swing points and ob/os.

Longs taken with red above blue and vice versa.

D
  • #42
  • Mar 21, 2011 3:13am Mar 21, 2011 3:13am
I think you will be very happy to follow it if it suits your style. Why ? Because you have a profitable system, with tight stops, safe entries, and with many opportunities to trade (many signals a day)....and it could be improved on exits even if it is still profitable with initial rules.

Nevertheless, sometimes you have to wait for a clear signal. This morning it is flat, so no trade. Some of you will try to trade with Stochastics but I prefer to wait for a trend
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  • #43
  • Mar 21, 2011 4:35am Mar 21, 2011 4:35am
Quoting hmaoui
You are welcome. Post your entries I will comment.
thank you hamoui...

well, here is my first trade for today. I got out at +1.3 pip. Although it did not end in loss, can you tell me if the entry was ok?
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  • #44
  • Mar 21, 2011 7:46am Mar 21, 2011 7:46am
and here is my second trade for the day. it might go further but I chose to get out at +10 pips...
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  • #45
  • Mar 21, 2011 7:46am Mar 21, 2011 7:46am
Hello ! Yes it was an entry that I took and I exited at B/E. Why I exited ? Because on longer TF it was flat....so no trend on longer TF. As you scalp the market, dont wait for many time to get your pips ! Also, there was a strong support at 1.4150 level so as it bounced off, I put my stop at B/E which was touched after some minutes. Like you...

Quoting isengoz
thank you hamoui...

well, here is my first trade for today. I got out at +1.3 pip. Although it did not end in loss, can you tell me if the entry was ok?
  • #46
  • Mar 21, 2011 7:52am Mar 21, 2011 7:52am
I took this one too at 1.4179 (buy). It's a perfect entry as it is a good trend (check at the GMMAs and DMI), and we bought when prices touched the 12EMA (support) and Stochastics were very low. I am in the market right now because the trend is safe (look at GMMAs and DMI), and I think it can break over 1.42. I put my Stop at 1.4185, so now it is a free trade that I manage. If my SL is touched, then I will be exited witgh 6 pips profit on 5 lots (300$).

Quoting isengoz
and here is my second trade for the day. it might go further but I chose to get out at +10 pips...
  • #47
  • Mar 21, 2011 7:53am Mar 21, 2011 7:53am
Quoting hmaoui
Hello ! Yes it was an entry that I took and I exited at B/E. Why I exited ? Because on longer TF it was flat....so no trend on longer TF. As you scalp the market, dont wait for many time to get your pips ! Also, there was a strong support at 1.4150 level so as it bounced off, I put my stop at B/E which was touched after some minutes. Like you...
Then, I'm glad that I didn't make a wrong entry. Because I believe that one of the most dangerous things while learning or practicing a system is the wrong trades ending up in good results. They direct you to the wrong point at the end.

By the way, thanks for the explanation hmaoui...
  • #48
  • Mar 21, 2011 7:58am Mar 21, 2011 7:58am
Quoting hmaoui
I took this one too at 1.4179 (buy). It's a perfect entry as it is a good trend (check at the GMMAs and DMI), and we bought when prices touched the 12EMA (support) and Stochastics were very low. I am in the market right now because the trend is safe (look at GMMAs and DMI), and I think it can break over 1.42. I put my Stop at 1.4185, so now it is a free trade that I manage. If my SL is touched, then I will be exited witgh 6 pips profit on 5 lots (300$).
well, as a newbie in this strategy, I behave a bit timid...
  • #49
  • Mar 21, 2011 8:01am Mar 21, 2011 8:01am
Be sure the system is very simple to understand. Entries are easy, and SL are tight, so you can have a very good ratio on T/SL which means that you can have a bad probability of success you will nevertheless earn money ! And as you have a good probability of success (around 60% minimum) and a high ratio Profit/Risk you will be a fan of this system.

Quoting isengoz
Then, I'm glad that I didn't make a wrong entry. Because I believe that one of the most dangerous things while learning or practicing a system is the wrong trades ending up in good results. They direct you to the wrong point at the end.

By the way, thanks for the explanation hmaoui...
  • #50
  • Mar 21, 2011 8:03am Mar 21, 2011 8:03am
What a chance !!!! My SL at 1.4185 has not been touched as prices came to 1.41851 !!!! Now it is 1.41924.....I think iti will test 1.42 and I will trail my SL
  • #51
  • Mar 21, 2011 8:25am Mar 21, 2011 8:25am
Just now : It touched 1.42005 ! I exited a part of my positions at 1.4200 (3 lots on 5), and let the porfits run on the other part. Why I did that ? 1.4200 is a round number so a strong resistance : I dont want to lose money on this trade so I take some profiit (21 pips for 3 lots). Why I did not exit all my position ? Because the trend is safe as you can see on the chart....so it can reach higher ! We will see. SL is at 1.4190.
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  • #52
  • Mar 21, 2011 8:29am Mar 21, 2011 8:29am
I have been exited for my last 2 lots at 1.4190. So I risked 7 pips on 5 lots to earn 21 pips on 3 lots and 11 pips on 2 lots. It means a total profit of 85 pips for a risk of 35 pips (ratio>2) ! Only on 5 lots I earned 850$. Not so bad risking 350$....well paid
  • #53
  • Mar 21, 2011 8:40am Mar 21, 2011 8:40am
Now I am flat and will wait for ECB speech....I advise you do not trade before and after this event, or at your own risk ! I am not confortable with news....
  • #54
  • Mar 21, 2011 7:02pm Mar 21, 2011 7:02pm
Can someone who does use mt4 post their template for newbies who come
along and want to check out the setup?

Brian
  • #55
  • Mar 22, 2011 4:17am Mar 22, 2011 4:17am
Effectively, I dont use MT4 and I dont know how to program an EA for this system. If someone has the skills to developp it he is welcome !!! But I think that exits should be improved before, so I am waiting for suggestions...

Quoting golden1
Can someone who does use mt4 post their template for newbies who come
along and want to check out the setup?

Brian
  • #56
  • Mar 22, 2011 4:49am Mar 22, 2011 4:49am
About SL , well you always havve different choices , Psar stop,ATR Stop, even Fibs.. but i guess it smakes more sense taking half of position at x1,5 or x2 of SL , move rest to BE and adapt SL at every swing .
That would be what i would try out

If you are at WHS Broker, like it seems, then use there Furure station , you could automate the partial TP and SL ,easyily and trade by one click directly from a chart , might be better , cos it seems you need to be fast here.
  • #57
  • Mar 22, 2011 8:52am Mar 22, 2011 8:52am
Hi. Thanks for the idea. Indeed, I am on WHS as broker, which is not very easy to program (via Chartstudio). I don use the Future Station but it could be an idea.

Quoting blutkehlchen
About SL , well you always havve different choices , Psar stop,ATR Stop, even Fibs.. but i guess it smakes more sense taking half of position at x1,5 or x2 of SL , move rest to BE and adapt SL at every swing .
That would be what i would try out

If you are at WHS Broker, like it seems, then use there Furure station , you could automate the partial TP and SL ,easyily and trade by one click directly from a chart , might be better , cos it seems you need to be fast here.
  • #58
  • Mar 22, 2011 8:56am Mar 22, 2011 8:56am
Here it is. This morning it was not clear for me so I did not trade. Now, there is a correction and entered short at 1.4213. I put a stop 7 pips higher and now my stop is at 1.4195. So I am sure to get 18 pips on 5 lots. It worth to wait for the good signal ! Try to find it on your chart on 5mn TF....and I wait to see if some of you took it
  • #59
  • Mar 22, 2011 9:11am Mar 22, 2011 9:11am
Exited at 1.4195. Even if I did not have my SL I would have exited my trade because there is a divergence on Stochastics. I dont trade divergence but I use it sometimes to exit ! It is useful. So for the day it is 18 pips on 5 lots (900$). I stop there because sun is shining ...
  • #60
  • Edited 6:53pm Mar 22, 2011 5:41pm | Edited 6:53pm
Quoting hmaoui
Hi. Thanks for the idea. Indeed, I am on WHS as broker, which is not very easy to program (via Chartstudio). I don use the Future Station but it could be an idea.
Bonjour Mr HMAOui, I can program you up all the indicators and rules in chartstudio as I think this is a very good method. Will you help me if I have some questions? PS: Finished the CTL file. As I am not a full member, it seams that I cannot attach files. Or am I missing something.
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