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MA + Momentum system

  • #81
  • Mar 28, 2011 11:22pm Mar 28, 2011 11:22pm
Quoting LetterBlack
Question if I may. Hope you don't mind. What would you count as being a definite reverse? I'm just curious. Also why would you call this a false signal? Does it happen repeatedly? I ask because a system should not be discounted because a person had a few failures. I think the best filter for ranging is the eyes. If the eyes cant see it neither can an indicator.

Thanks
I second that LetterBlack.
  • #82
  • Mar 28, 2011 11:48pm Mar 28, 2011 11:48pm
Quoting lundu00
what's your target price MastaScalpa?
dunno,traling )
  • #83
  • Mar 28, 2011 11:50pm Mar 28, 2011 11:50pm
Quoting webglobe
lundu00 and MastaScalpa you made some pips thats kool. but do u know that the set up was so kool and i wanted to jump in but my stupid broker couldnt let me excute a trade

lets see what tomorrow will bring guys
chanchge broker?
  • #84
  • Mar 29, 2011 12:15am Mar 29, 2011 12:15am
Quoting lundu00
I second that LetterBlack.
Just trying to help. Thanks
  • #85
  • Mar 29, 2011 1:42am Mar 29, 2011 1:42am
just woke up and saw that i missed the train on EU. be back later guys
  • #86
  • Mar 29, 2011 10:31pm Mar 29, 2011 10:31pm
This is my 1st post in FF. Eventhough I'm new here, I traded fx for more than 3 years and not really active in sending post but frequently read in alot of forums. Whatever method that appear here, I took it as a guidance to open a position and manage trade. For me fx is not rigid, influenced by alot of things. We frequently heard that EA will not survive in long run becoz too mechanical (by ignoring the fundamental) is not the good idea in trading. Make it short, what I would like to tell here that this system I think quite good in guiding me to open a post, cut the losses early n keep the profit running. Regarding the filter, I would prefer fundamental approach by reading news and comment from a few fx websit eg: FF, fxstreet, forexlive etc. From there, we can see the current bias either Long or Short..and also,we can see strong SnR which we should alert. If let say today's bias is sell EU, I would only take Sell signal.
Only my 2cents idea.. Hope others have a good ideas to improve this system.
  • #87
  • Mar 30, 2011 2:14am Mar 30, 2011 2:14am
I'm currently using Fibonacci to set my target price and stoploss, and so far, it has been pretty good.
  • #88
  • Edited 9:13am Mar 30, 2011 3:52am | Edited 9:13am
I only use 1hour mom as I trade with 1H TF.. As I mentioned earlier, entry is selective based on fundamental bias. It would be nice if someone can create semi auto EA based current trend. For example, if I think the bias is Short, I just select Sell only EA. So whenever the Sell arrow appear at the close of 1H candle, trade open. Same goes to Long bias. Also possible for both Buy & Sell (in a case of Neutral bias and wide ranging market).
  • #89
  • Mar 30, 2011 4:02am Mar 30, 2011 4:02am
oh dear, a couple of false signals on gu, a lot of pips lost....

false buy signal on 29.3.11 at 7.00

false sell signal on 29.3.11 at 14.00

both on alpari account.

i wonder if there is a way of filtering these false signals.....
  • #90
  • Mar 30, 2011 5:40am Mar 30, 2011 5:40am
GU was expected in consolidation since yesterday. You can look in recent post sent in fxstreet.com. According to experts, a period of consolidation or a little retracement could be seen after most indicators already in Oversold area.
  • #91
  • Mar 30, 2011 6:12am Mar 30, 2011 6:12am
Quoting Keynock
GU was expected in consolidation since yesterday. You can look in recent post sent in fxstreet.com. According to experts, a period of consolidation or a little retracement could be seen after most indicators already in Oversold area.
hi lost 50pips in GU yesterdays afternoon. but is all good ..........................scalping here and there is better for me , will still be searching and setting systems
  • #92
  • Mar 30, 2011 9:23am Mar 30, 2011 9:23am
Quoting webglobe
hi lost 50pips in GU yesterdays afternoon. but is all good ..........................scalping here and there is better for me , will still be searching and setting systems
Yeah, I lost in GU yesterday too but won in EU. Today I won in EURGBP.

Correct me if I'm wrong. I notice that if you lose in one currency pair, re-enter trade again when there's signal and the probability of winning is much higher in that particular pair. However, this must be done in the same day.
  • #93
  • Mar 30, 2011 7:12pm Mar 30, 2011 7:12pm
Quoting lundu00
Yeah, I lost in GU yesterday too but won in EU. Today I won in EURGBP.

Correct me if I'm wrong. I notice that if you lose in one currency pair, re-enter trade again when there's signal and the probability of winning is much higher in that particular pair. However, this must be done in the same day.
i think thats right looking @ it (backtesting)

but in my case i hate losses lol,because i take my time and wait till the sure signal but for u,u made it back that same day off EU for me i trade one pair (EU) @ a time. i just wanted to test other pairs
  • #94
  • Mar 31, 2011 10:20am Mar 31, 2011 10:20am
Quoting webglobe
i think thats right looking @ it (backtesting)

but in my case i hate losses lol,because i take my time and wait till the sure signal but for u,u made it back that same day off EU for me i trade one pair (EU) @ a time. i just wanted to test other pairs
webglobe, why don't you then consider trading on a higher TF eg daily? this way, you can focus on one currency pair at a time per day. just tweak the MA and Momentum periods a bit and use Fibo to help enter trade and set TP and SL.
  • #95
  • Mar 31, 2011 10:23am Mar 31, 2011 10:23am
webglobe, there could be a long signal for EU tomorrow (fri). I'm setting my EMA to 13 and Momentum to 20 for this currency pair. just my 2 cents' worth.
  • #96
  • Mar 31, 2011 4:22pm Mar 31, 2011 4:22pm
Quoting lundu00
webglobe, there could be a long signal for EU tomorrow (fri). I'm setting my EMA to 13 and Momentum to 20 for this currency pair. just my 2 cents' worth.
wow that would have been a good look out but i wouldnt trade tomorrow............have a good luck and thanks for the signal
  • #97
  • Apr 5, 2011 10:33pm Apr 5, 2011 10:33pm
Anyone still trading this interesting strategy?

BC2
  • #98
  • Apr 6, 2011 2:10am Apr 6, 2011 2:10am
Quoting Bobcat2
Anyone still trading this interesting strategy?

BC2
I am. I'm trading EU, GU, EG and EJ with minor tweaks on the MA period, with 1 hr as well as Daily TF. Doing pretty well.

Oh, do include Fibo to help you exit trade.
  • #99
  • Apr 7, 2011 3:50am Apr 7, 2011 3:50am
Quoting lundu00
I am. I'm trading EU, GU, EG and EJ with minor tweaks on the MA period, with 1 hr as well as Daily TF. Doing pretty well.

Oh, do include Fibo to help you exit trade.

can you tell us what tweaks you use on the ma and momentum for the daily and why ?

how do you use the fibs and what settings ?

the problem with this system is how to identify and avoid a false setup...because a few false setups here and there will wipe you out.
  • #100
  • Apr 8, 2011 3:01am Apr 8, 2011 3:01am
[quote=whatfx;4527903]can you tell us what tweaks you use on the ma and momentum for the daily and why ?

how do you use the fibs and what settings ?

the problem with this system is how to identify and avoid a false setup...because a few false setups here and there will wipe you out.
----------

The EU H1 is as per MastaScalpa's indicator period. The EG H1 will be EMA 19 and Momentum 20. These are the 2 pairs which is effective for this method.

I didn't change the Fib setting. Just draw your Fib from swing low to swing high if market is trending up. Look for signal, ie when the blue candle closes above EMA line and Momentum is crossing 100 from below.

Refer to EG H1 today. There was a strong signal at 01:00GMT. I drew my Fib, entered my order long based on Fib 23.6, with TP at Fib 0 and SL slightly above Fib 50 where the pin bars are. I make sure that my SL are less than my TP.

I find that this method gives very few false signals. Best time to trade is during London & US session. If you want to trade during Tokyo session, set your TPs smaller.
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