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A "new" simple system based on MA

  • #201
  • Apr 20, 2011 3:48am Apr 20, 2011 3:48am
EUR/USD is very bullish. I am waiting for a good retracement to enter long. I think we can go to 1.4520 and then 1.4580. But I follow my system and I am waiting for a perfect setup to profit of the trend.

Is some one still in the market ? There was a signal this morning at 7:10 GMT (1.4417) but I was not behind my screen so I didnt take it. 15 pips was very easy....and maybe more if you let the profits run on half of the position.

I will try to improve rules about exits so we can grab pips very fast but also let some profits run with the trend when it is established. But I need people who can programm on MT4...
  • #202
  • Apr 20, 2011 4:24am Apr 20, 2011 4:24am
Quoting hmaoui
EUR/USD is very bullish. I am waiting for a good retracement to enter long. I think we can go to 1.4520 and then 1.4580. But I follow my system and I am waiting for a perfect setup to profit of the trend.

Is some one still in the market ? There was a signal this morning at 7:10 GMT (1.4417) but I was not behind my screen so I didnt take it. 15 pips was very easy....and maybe more if you let the profits run on half of the position.

I will try to improve rules about exits so we can grab pips very fast but also let some profits run with the trend...
it is very tempted to enter the market now, but temptation usually will kill traders. LOL.
Btw, can't wait the new exit rule. I'm trying to stick with 10 pips TP on near before or after open market. As long as it can be 90% profit... hehehe. cheers hmaoui !
  • #203
  • Edited 10:13am Apr 20, 2011 10:10am | Edited 10:13am
Quoting hmaoui
EUR/USD is very bullish. I am waiting for a good retracement to enter long. I think we can go to 1.4520 and then 1.4580. But I follow my system and I am waiting for a perfect setup to profit of the trend.

Is some one still in the market ? There was a signal this morning at 7:10 GMT (1.4417) but I was not behind my screen so I didnt take it. 15 pips was very easy....and maybe more if you let the profits run on half of the position.

I will try to improve rules about exits so we can grab pips very fast but also let some profits run with the trend...
hmaoui - thanks for taking the time to post your system . In MT4 there are a number of take profit EA`s allready . One is : updatestops , another is cavemanager . I do not have recent versions but a search of the forums will find them . Assuming you mean an EA to manage your trade after you place it .
  • #204
  • Apr 20, 2011 1:33pm Apr 20, 2011 1:33pm
Hi again hmaoui

I wanted to share my thoughts on 'tweaking' your system slightly. I hope I do not cause confusion by posting this here - I do think it is worth discussing and I would appreciate your feedback.

For me the most effective indicator for trading forex is the CCI. I have used many indicators over the years and the CCI is the best for me - in fact I think it is the only indicator that comes close to predicting where the market is going next - all others are lagging as far as I am concerned. That is my humble opinion anyway

I have attached a 5min chart of EUR/USD with the moving averages and stochastic as per your setup. I have hidden the ADX for now and have included 3 additional indicator windows that show the 'Double Woody' CCI indicator for three timeframes on the 5 min chart. So top CCI window is the 5 min CCI, with M15 CCI in the window below that and finally I have shown the H1 CCI in the last indicator window.

The entries are given when the CCI13 in the M5 window cross the zero axis and this is highlighted as a thick yellow line. I have narrated the 5 consecutive entry signals as they happened.

In simple terms the best trades happen when both CCI5 (white line) and CCI13 (green or red histogram) are on the same side of the zero line for all 3 TFs.

Please compare the entries shown with your own charts and let me have your feedback. You can see additional entries on the chart after the ones I have annoted - hopefully my explanation of best entry set up will allow you to check the additional entry triggers.

Thanks
fxj
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD New Simple System entries example.jpg Size: 267 KB
  • #205
  • Edited Apr 21, 2011 12:06am Apr 20, 2011 9:31pm | Edited Apr 21, 2011 12:06am
Catch 13 pips to 4582 from 4569 this morning.
Miss the explosive near Tokyo Open as from 00.00 to 01.30 GMT, I am always on the road -- on the way to office so can not see the chart ;(

But this setup on M5 is not bad either.

BTW..will try to study fxjourney post above, seems promising though. Fxjourney, could you please post the indicator? TQ
Attached Image (click to enlarge)
Click to Enlarge Name: entry 21 april jam 859.gif Size: 35 KB
  • #206
  • Apr 21, 2011 12:48am Apr 21, 2011 12:48am
Quoting Bom-Bom
........Fxjourney, could you please post the indicator? TQ
Here it is. Under the 'inputs' tab select the time frame as follows:

M5 = 5
M15 = 15
M30 = 30
H1 = 60
H4 = 240
D1 = 1440

Play around with it and leave it running. One word of warning... all muti time frame indicators repaint when you close MT4 and reopen it. In other words if you leave your MT4 running for 12 hours, the MTF CCI lines will be accurate (where they cross the zero line as an example). If you then close MT4 and open the same chart again - you will notice that the CCI lines look different. So don't try backtest with the higher TF CCIs from a freshly opened chart - rather let it run for 24 hrs or so and then look back and check the true levels.

I hope this makes sense - you will see what I mean when you try it out.

Thanks
fxj
Attached File(s)
File Type: mq4 Z_MTF_ DoublecciWoody.mq4   6 KB | 463 downloads
  • #207
  • Apr 21, 2011 1:05am Apr 21, 2011 1:05am
Another entry near the explosive
I was just expecting to put my TP @ 1.4588 when suddenly the price jump to 1.4595. really crazy market

so far, this strategy works great on M5 and M15, and of course, when the perfect setup come into play (ADX just cross, the Stoch cross below or above 50)

BTW, fxjourney, thanks for your information, hopefully your method can filter on ranging market. As usual, strategy like in this thread usually will suffer during the ranging period. Will learn today! Thanks!
Attached Image (click to enlarge)
Click to Enlarge Name: entry 21 april jam 11.gif Size: 41 KB
  • #208
  • Apr 21, 2011 7:22am Apr 21, 2011 7:22am
Nice initiative man ! I like your suggest ! I gonna try to understand it and to study it to see if it could improve the results. But as I said on my first post, it is important to use the oscillator youi master....So CCI could be interesting to use and maybe it will be more accurate than Stochastics. I will try and test. But what a good idea to try to improve it....you are welcome. Thanks.

Quoting fxjourney
Hi again hmaoui

I wanted to share my thoughts on 'tweaking' your system slightly. I hope I do not cause confusion by posting this here - I do think it is worth discussing and I would appreciate your feedback.

For me the most effective indicator for trading forex is the CCI. I have used many indicators over the years and the CCI is the best for me - in fact I think it is the only indicator that comes close to predicting where the market is going next - all others are lagging as far as I am concerned. That is my humble opinion anyway

I have...
  • #209
  • Apr 21, 2011 8:31am Apr 21, 2011 8:31am
Hello,

Nice trades : Perfect setup means pips with low risks !

About your remark on ranging period : it is true that it could lead to false signals. But dont forget the first step is to identify a trend !!! And you identify the trend by looking at your EMAs (spreading or not) and higher TF. If you see that there is no trend I advise you to not trade anymore. Trade only with the trend confirmed and you will avoid a lot of false signals. Also dont forget to trade this system on London/NY session...when big money is here. Of course you will get some losses, but winners are very much more !

Quoting Bom-Bom
Another entry near the explosive
I was just expecting to put my TP @ 1.4588 when suddenly the price jump to 1.4595. really crazy market

so far, this strategy works great on M5 and M15, and of course, when the perfect setup come into play (ADX just cross, the Stoch cross below or above 50)

BTW, fxjourney, thanks for your information, hopefully your method can filter on ranging market. As usual, strategy like in this thread usually will suffer during the ranging period. Will learn today! Thanks!
  • #210
  • Apr 21, 2011 11:24am Apr 21, 2011 11:24am
Quoting hmaoui
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
Hello hmaoui,

I highlighted 2 entries that seem valid on the chart below, can you confirm that they are valid and if not, explain why please. Thanks
Attached Image (click to enlarge)
Click to Enlarge Name: chart10j.jpg Size: 475 KB
  • #211
  • Apr 22, 2011 3:16am Apr 22, 2011 3:16am
I will check....but first I need to code my system. I will take the time to find someone who has the skills to code the strategy and I will backtest different rules for exits then. Waiting for an MT4 programmer who want to help us !!!

Quoting steel777
hmaoui - thanks for taking the time to post your system . In MT4 there are a number of take profit EA`s allready . One is : updatestops , another is cavemanager . I do not have recent versions but a search of the forums will find them . Assuming you mean an EA to manage your trade after you place it .
  • #212
  • Apr 22, 2011 3:31am Apr 22, 2011 3:31am
Looking at
your first entry, it was not valid because all conditions were not met. We may be at the beginig of a positive trend but looking at the LT EMAs, you can see that the spreading is not very large. But why not. Nevertheless, even if DMI is positive, Stochastics are not under 50 level or oversold territory, it means that the pullback is not good. So you dont enter. Follow strictly the rules.

Second entry is possible (loser one) but if you look at the chart you can note that LT EMAs are not spreading (there is no trend established but maybe the begining, why not). If you look at the DMI you can see that positive and negative are very close too. Stochastics are good. So it is not a perfect setup (trend is not really established) and if you want to enter, you have to trail your stop very fast to B/E. According to me it is not a safe trend.

Hope you understand my point of view.

Quoting mlambole
Hello hmaoui,

I highlighted 2 entries that seem valid on the chart below, can you confirm that they are valid and if not, explain why please. Thanks
  • #213
  • Apr 22, 2011 3:59am Apr 22, 2011 3:59am
Because now I am available to answer you as I dont trade today because of market closed in NY / London / Paris (even if Fx is opened, but I think Big Money is not here)
  • #214
  • Apr 22, 2011 12:17pm Apr 22, 2011 12:17pm
What time do you find this system is most successful? London?

Do you try to find one great setup a day or can there be a few?
  • #215
  • Apr 22, 2011 3:17pm Apr 22, 2011 3:17pm
can you post your template and indicators?
  • #216
  • Apr 23, 2011 5:40pm Apr 23, 2011 5:40pm
Usually London an NY are the best time to trade this system. You wait for a trend to develop than buy or sell on a pullback.

I prefer to jump in as there is a perfect setup coz it means low risk and high reward !

Quoting psydox
What time do you find this system is most successful? London?

Do you try to find one great setup a day or can there be a few?
  • #217
  • Apr 23, 2011 5:41pm Apr 23, 2011 5:41pm
I dont use MT4 so I dont have any template (simple to put it on your chart) and no indicators yet. I am looking for an MT4 coder.

Quoting moj65
can you post your template and indicators?
  • #218
  • Apr 25, 2011 2:34pm Apr 25, 2011 2:34pm
Hi, I just read your system and I like it. I've been trying to do somthing similar but not succesful. I will study it and try to learn.

Thank You,
Dragon
  • #219
  • Apr 27, 2011 1:41am Apr 27, 2011 1:41am
Quoting hmaoui
Usually London an NY are the best time to trade this system. You wait for a trend to develop than buy or sell on a pullback.

I prefer to jump in as there is a perfect setup coz it means low risk and high reward !
Hi Hmaoui...,my weakness sometimes guess the trend wrongly.
I see the MAs spreading...but later when I thought it was a pullback, suddenly it become changing a trend. How to avoid things like this?
  • #220
  • Apr 27, 2011 2:52pm Apr 27, 2011 2:52pm
I have had a go at creating a EA for MT4 based on Steve Hopwoods Generic EA that has a cut down version of MPTM built in.

I have used 3 EMAs 12, 30 and 60 and used Stochs and DMI to help trade entry. I have also added trade closure criteria but mainly rely on jumping stop.

I have been forward testing it today and it is making false entries that cancel out any profit. In its current form it is NOT safe to trade live and needs much more testing to iron out bugs.

Please feel free to test and let me know your thoughts on criteria for entry and exit.

I have included the EA and my template as well.

Mike
Attached File(s)
File Type: mq4 Hmaoui auto trading robot MAs with MPTM by magft.mq4   54 KB | 382 downloads
File Type: tpl hmaoui mas m1.tpl   8 KB | 533 downloads
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