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Nb 1.0 trend trade system

  • #1,201
  • Apr 30, 2011 11:41pm Apr 30, 2011 11:41pm
Quoting greglegrande
I set the SL at 25 pips. The EA stopped me out at a loss every time. And then every time the trade went on to score at least 50+ pips with one going 80+.

This is my question....what is an appropriate SL on 1-hour chart trade? Apparently 25 pips is way too little. Please help.
It has been my observation and decision to set my SL based on a recent swing low just like Bob and Steve do. It may seem that this would be wrong considering that many other traders do the same thing, but in the long run it seems to work out. The decision for the trader is: how many pips below the swing low?

Also, if you set an arbitrary 25 pips, do you care if the ATR (100) for one currency pair is 14 and another is 50? Shouldn't that help you decide where to set your SL?
  • #1,202
  • May 1, 2011 3:24am May 1, 2011 3:24am
Quoting greglegrande
Here of late my schedule has mandated that I set some trades and then walk away for hours. I would much rather monitor and execute my own exits but if I were to do that it would mean not trading for days at a time. My last four trades I have used an EA (Mauro Trailing EA) that allows me to set a SL & TP as well as a trail. I set the SL at 25 pips. The EA stopped me out at a loss every time. And then every time the trade went on to score at least 50+ pips with one going 80+.

This is my question....what is an appropriate SL on 1-hour chart...
As i manually backtested the system over the last year and more, i found that a "last-swing" SL with a minimum of 50pips works really really well on all major pairs, talking about 1h charts.
I had some trades stopped on GBPUSD (2 if i remember well from january 'till now), could be profit ones with a 65 points stop.. but this market is really volatile sometimes.

25pips in my opinion is a good stop for a 15mins chart, not for an hourly!

Never used ATR to set stop on forex, i used it on future indexes and with options with a fair result. Maybe i will try to forward test it, just to do it, but i'm a bit skeptical.
  • #1,203
  • May 1, 2011 4:12am May 1, 2011 4:12am
Quoting greglegrande
Here of late my schedule has mandated that I set some trades and then walk away for hours. I would much rather monitor and execute my own exits but if I were to do that it would mean not trading for days at a time. My last four trades I have used an EA (Mauro Trailing EA) that allows me to set a SL & TP as well as a trail. I set the SL at 25 pips. The EA stopped me out at a loss every time. And then every time the trade went on to score at least 50+ pips with one going 80+.

This is my question....what is an appropriate SL on 1-hour chart...
I think this system is not about high hit ratio. It is better to loose more often but to use 50-70 persent of the swing stop. Very often this method catches nise runners that do not require big stop at all.
I personaly trade it with 70persent swing stop on both 1h and 4H chart. 4h with same indicators settings just a bigger stop.
  • #1,204
  • May 2, 2011 8:16am May 2, 2011 8:16am
Thanks to all who responded to my request for help. What a great website and thread! Got 40+ pips on two trades before I went to bed last night...set the mauro trailing EA... got up this morning to two successful trades.

Set my SL based on the most recent fractal (H/L), TP on my choice of resistance (both were longs), moved to BE after 25 pips with a trail of 15. It worked out. I would still love to see an EA where you can just click and drag lines on your chart preferably with layered TP's and that are all invisible to the broker (market maker).

Here's the EA I'm using if you're interested.
Attached File(s)
File Type: mq4 Mauro_Trailing_6digits.mq4   17 KB | 489 downloads
  • #1,205
  • May 2, 2011 2:09pm May 2, 2011 2:09pm
I am relatively new to forex trading but traded options and stocks for close to 10 years. We know to trade those markets differently in the months of April & May since they are so lightly traded compared to the rest of the year... especially compared to Oct 15 - Mar 15 approximately.

DOES THE SAME HOLD TRUE FOR THE FX? Is there a yearly calendar indicating volumes of the forex market at various times of the year like there is for the other Markets?
  • #1,206
  • May 2, 2011 7:52pm May 2, 2011 7:52pm
Quoting greglegrande
I am relatively new to forex trading but traded options and stocks for close to 10 years. We know to trade those markets differently in the months of April & May since they are so lightly traded compared to the rest of the year... especially compared to Oct 15 - Mar 15 approximately.

DOES THE SAME HOLD TRUE FOR THE FX? Is there a yearly calendar indicating volumes of the forex market at various times of the year like there is for the other Markets?
FOREX is different than other markets.
1. Even though traders trade FOREX they are only a small part of the action. For example a pip is a hundredth of a penny. So if price moves a 100 pips that is a tenth of a penny. (some currencies of course the numbers are different) So when you see some traders getting all excited about a 4 or 500 pip move you are really talking tenths of a penny in real life.
2. FOREX is a place where businesses and governments exchange money for transactions and there are trillions of dollars moved every day. So Forex moves are really based on business being conducted that day. So despite the claims of follow the trend, that can be a misnomer because you dont know when Govt. A or Business C will give govt. B or Business D; X amount of billions of dollars and when they will cash that check. At any time the market can move for any crazy reason. So Forex will move more according to business and govt. transactions than when traders are trading. So some months that maybe quiet in the trading world can still be active during the Forex world and visa versa.
3. So What gets most traders excited, in the real world are just blips. Most businesses and govt. could care less about the market moving 400 pips or 4 tenths of a penny. Sure does get traders excited though. So is there a correlation? sometimes but it can change at any moment. There is an unpredictability factor in Forex trading that no Fundamental, News, or indicator trader can account for. That is what makes it both exciting and very dangerous to trade.
4. The buys and sells of the market cause the market to move in a jagged way. It leads to my basic philosophy of FOREX. What goes up must come down and what goes down must come up, there is no such thing as everybody doing business one way. In other words European govt. and businesses will cash USA checks and USA govt and businesses will cash Euro checks. AND no one can predict when those will happen.
  • #1,207
  • May 2, 2011 8:13pm May 2, 2011 8:13pm
Thank you bob for the quick response. I always enjoy reading your posts.
  • #1,208
  • May 3, 2011 12:58am May 3, 2011 12:58am
Quoting greglegrande
I am relatively new to forex trading but traded options and stocks for close to 10 years.
I am myself an option trader, but just forget about that when you trade FX.

The "option modus-operandi" will lead to disasters in forex, on those markets counts only the "here and now"!
  • #1,209
  • May 3, 2011 7:10am May 3, 2011 7:10am
Little bitty trade last night before I went to bed. I used the Mauro Trailing EA and woke up this morning for a small 25 pip profit.
Attached Image (click to enlarge)
Click to Enlarge Name: nb 18.gif Size: 38 KB
  • #1,210
  • May 3, 2011 7:21am May 3, 2011 7:21am
3 out of 3 trades yesterday, today the market is offering a lot of opportunities, i'm actually on the AUDCAD and EURCAD, at -2 and +36.
  • #1,211
  • May 3, 2011 7:54am May 3, 2011 7:54am
Quoting SteMag
3 out of 3 trades yesterday, today the market is offering a lot of opportunities, i'm actually on the AUDCAD and EURCAD, at -2 and +36.
Closed @+43 and -2.

Orders inserted on the other pairs, just waiting now.
  • #1,212
  • Edited 10:28am May 3, 2011 10:12am | Edited 10:28am
Quoting SteMag
Closed @+43 and -2.

Orders inserted on the other pairs, just waiting now.
Alone here?

All from USA, noone from the dear old EU?

I'm long on CHFJPY EURJPY AUDUSD, now at +17 -1 -6.. somebody else is in?

[EDIT]

I'm now @ +25 +34 +14, i didn't enter on UC and AJ (didn't like the PA on UC, and i don't wanna put too much meat on the fire!), but i'm ready to enter on both the EURAUD and the GBPUSD.

Good night to all!
  • #1,213
  • May 3, 2011 10:32am May 3, 2011 10:32am
Quoting SteMag
Alone here?

All from USA, noone from the dear old EU?

I'm long on CHFJPY EURJPY AUDUSD, now at +17 -1 -6.. somebody else is in?

[EDIT]

I'm now @ +25 +34 +14, i didn't enter on UC and AJ (didn't like the PA on UC, and i don't wanna put too much meat on the fire!), but i'm ready to enter on both the EURAUD and the GBPUSD.

Good night to all!
One trade have just finished at tp. There were also a loosing trade just before it, but it was almost doable smaller 37pips while the winner 64 pips

Also yesterday there very close to a setup but at that moment the red MA was not below the TMA, so the ea missed it. Well just OK.
Attached Image (click to enlarge)
Click to Enlarge Name: h.gif Size: 16 KB
  • #1,214
  • May 3, 2011 10:38am May 3, 2011 10:38am
Quoting silberFX
One trade have just finished at tp. There were also a loosing trade just before it, but it was almost doable smaller 37pips while the winner 64 pips
Something wrong with my charts (or yours): why on my chart the candles never touch the lower band today?
I have 14 points of difference between today's lower low and the lower band!

I am using the TrueTMA, with standard settings (3 multiplier 56 period).. any clue?

The opened trades are @ +25 +33 +43 now
Attached Image (click to enlarge)
Click to Enlarge Name: EU1h.PNG Size: 28 KB
  • #1,215
  • May 3, 2011 10:43am May 3, 2011 10:43am
Quoting SteMag
Something wrong with my charts (or yours): why on my chart the candles never touch the lower band today?
I have 14 points of difference between today's lower low and the lower band!

I am using the TrueTMA, with standard settings (3 multiplier 56 period).. any clue?

The opened trades are @ +25 +33 +43 now
Multiplier 2 on mine
  • #1,216
  • May 3, 2011 10:48am May 3, 2011 10:48am
Quoting silberFX
Multiplier 2 on mine
Oh!

Have tried in the past to do something similar, but not with the TMA Bands.

Are you on live with "standard fire power", if i can ask that?
How the life goes with the false signals? How do you manage them?
  • #1,217
  • May 3, 2011 11:00am May 3, 2011 11:00am
Quoting SteMag
Oh!

Have tried in the past to do something similar, but not with the TMA Bands.

Are you on live with "standard fire power", if i can ask that?
How the life goes with the false signals? How do you manage them?
Yes it is live. I close the false ones at SL. I use 70persent of the swing stop. Seems to work. Also work on H4 time frame just less trades. Just you should know it is a short time experience and there is no guaranties for a bright future. Thought the method seems to me sound.
  • #1,218
  • May 4, 2011 6:44am May 4, 2011 6:44am
Quoting silberFX
Yes it is live. I close the false ones at SL. I use 70persent of the swing stop. Seems to work. Also work on H4 time frame just less trades. Just you should know it is a short time experience and there is no guaranties for a bright future. Thought the method seems to me sound.
Ahahah, just LOVE that answer
  • #1,219
  • May 8, 2011 1:17am May 8, 2011 1:17am
Hi,
I have downloaded TmaTrue.ex4 file from the thread. I want to edit the alert settings on the file but cannot use the ex4 file for this purpose.

Can someone please point me the direction from where I can get mq4 file for TrueTma indicator. I wouldn't mind if you send me a pm.
Thanks.
  • #1,220
  • May 8, 2011 7:28am May 8, 2011 7:28am
Hi raindrop - Quick search and you can find one here: http://www.forexfactory.com/showpost...&postcount=129

Incidentally you can make your own with this:

double TmaMiddle, TmaUpper, TmaLower;

TmaMiddle = iMA(NULL, 0, 56, 0, MODE_LWMA, PRICE_CLOSE, 0);
double range = iATR(NULL,0,100,10)*2.0;
TmaUpper = TmaMiddle + range;
TmaLower = TmaMiddle - range;




Quoting raindrop
Hi,
I have downloaded TmaTrue.ex4 file from the thread. I want to edit the alert settings on the file but cannot use the ex4 file for this purpose.

Can someone please point me the direction from where I can get mq4 file for TrueTma indicator. I wouldn't mind if you send me a pm.
Thanks.
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