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  • #4,081
  • May 24, 2011 7:56am May 24, 2011 7:56am
Quoting clapan
Hi guys, first of all I'd like to thank author of the thread and everybody who makes any contribution to the system.

I was a little bit shoked, when I was reading about this system, coz near 6 months I'm trading almost the same thing as you, but your ideas with different EAs are unbelievable. But still I have one question, how do you take profit, and waht's your average profit?

Now I want to share with you, how i manage my workplace, may be it can help somebody. Trading is my second job, and I can't sit all the time at PC, but my Iphone (or Android...
This is cool!!Thanks for sharing!
  • #4,082
  • May 24, 2011 8:01am May 24, 2011 8:01am
If somebody needs more precise instruction I can do it.

By the way, what's average profit do you take? And do you place Trailing stop? And when move SL to Breakeven?
  • #4,083
  • May 24, 2011 8:44am May 24, 2011 8:44am
Clapan,
Good way of keeping in with the trading, yes I have used Teamviewer myself, it is quite good at operating across firewalls too which is a bonus.
Survive to fight another day
  • #4,084
  • May 24, 2011 9:35am May 24, 2011 9:35am
Quoting clapan
If somebody needs more precise instruction I can do it.

By the way, what's average profit do you take? And do you place Trailing stop? And when move SL to Breakeven?
The problem with average profit is there really is no such thing. Here is the reason why. Profit has everything to do with how the market is moving. Let me give you some scenarios.
1. Ranging markets are the easiest because you take your profits when it gets near a previous high/low or previous support/resistance.
2. However, any of that can change at any time based on what is fundamentally driving a currency. For example, since the Japan earthquake you could have sold JPY and then hung on to it for months and done very well. OR doing a sell now on the EURO and seeing how far it will drop because of sovereign debt crisis. Knowing fundamentals helps especially if you know it is driving the market.
3. Sudden news spike may be taken within minutes of entering a trade. I have seen price go up a 100, down 200, and back up 300. You see that sudden spike and you take it.
4. Which market are you in. For example I will often take 20-30 pip profits during the JPY session because they almost never move much. Euro more and sometimes a USA sessin will give you a nice 100+. Sometimes they go nowhere.
5. What kind of trade? Is it a trend trade, you may want to ride it for a while. Is it a counter trend trade, well then grab your profit and run.

CONCLUSION: this is always the toughest question to answer in trading. It has a lot to do with your style and the trade. Some people hang onto trades, others grab profit while it is there. What kind of trader are you??
My philosophy is I grab profit when I see it. The vast majority of my trades are 30-60 pips. The main reason for that is I am mostly a counter trend trader. I grab and run and do a bunch of trades every day. For example yesterday I closed 12 trades. I had 9 winners and 3 losers for a total of 307 pips. That averages to just over 25 pips a trade. Take away the losers and my winners averaged around 40+ pips a trade. My biggest winner was just over 60 pips and my smallest was 5. My biggest loser was 54 pips but I used the 60 to make a break even trade with a small profit. To me it is easier to get 10 - 30 pip trades than 3 - 100 pip trades but that is just me. I am not a patient long term trader even though I have done that.

So my best statement is: PROFIT IS BASED ON WHAT THE MARKET IS DOING and what ever rules that apply at the time. I dont have hard fast rules but this one: DONT LET A WINNER TURN INTO A LOSER. To me there is nothing more discouraging than to see a 30 profit turn into a 50 pip loser. I bring my stop loss up into profit and then let it ride or just close the profit. My other rule is: NEVER LOOK AT WHAT YOU COULD HAVE MADE ONLY LOOK AT WHAT YOU DID MAKE, this develops good trading habits and thought life. I dont care if my 5 pip profit only made 5 pips but could have made 140. I only know is I made a profit. I shout "NEXT". After a while they all add up. Oh by the way 307 pips in one day is nothing to sneeze at. I am feeling the groove again. 8 days until school is over.
  • #4,085
  • May 24, 2011 9:41am May 24, 2011 9:41am
Quoting clapan
If somebody needs more precise instruction I can do it.
I think it would be wise to start a thread and just take about that thing. I bet a lot of traders would be interested in it and would want to learn more. Sounds interesting.
  • #4,086
  • May 25, 2011 4:34pm May 25, 2011 4:34pm
Quoting clapan
Hi guys, first of all I'd like to thank author of the thread and everybody who makes any contribution to the system.

I was a little bit shoked, when I was reading about this system, coz near 6 months I'm trading almost the same thing as you, but your ideas with different EAs are unbelievable. But still I have one question, how do you take profit, and waht's your average profit?

Now I want to share with you, how i manage my workplace, may be it can help somebody. Trading is my second job, and I can't sit all the time at PC, but my Iphone (or...
Wow that little app will change my life. Thanks for putting it out there.
  • #4,087
  • May 26, 2011 1:57am May 26, 2011 1:57am
If you have any questions, you can skype me: clapan
  • #4,088
  • May 26, 2011 8:17am May 26, 2011 8:17am
Bob, just wondering how do you manage to take so many trades per day? I can't do that, and I hope everybody will be pleased, if author of the strategy will share his trades. I don't ask about your investor password at your real account, I can propose you something different.

Would you be so kind to open a demo account and install my 2 EAs that will copy trades from you real account to newly opened demo account without any delays. It's great pair of EAs which are very expensive, but I want to give them for you for free. And you will share that demo account, and we will have a look at it.

I don't know how you will get this idea, but it helps a lot of us. Thx
  • #4,089
  • May 26, 2011 1:29pm May 26, 2011 1:29pm
Hi guys, I want to dicsuss my trade: audnzd

Look at the chart and two boxes. On first I show you my primary trade, it was opened by EA automatically.

But I have questions with second box (trade). I opened it manually, but I was refreshing template when dd was 150 pips, and when touch of BB was, neveretheless the EA didn't open the trade. Is it correct, or not?
Attached Image (click to enlarge)
Click to Enlarge Name: audusd.jpg Size: 121 KB
  • #4,090
  • May 26, 2011 4:10pm May 26, 2011 4:10pm
Quoting clapan
...Is it correct, or not?
Since the candle bar did not touch BB, then EA1 and EA2 would not be activated. For such set ups (i.e when BB is almost off the screen) use EA3. At present a lot of pairs are trending, hopefully, we will see good retraces soon.

Kind regards
  • #4,091
  • May 26, 2011 7:39pm May 26, 2011 7:39pm
Hi BOB

I was wondering if we could have an additional EA (number 6 or 8) in our arsenal based on the short term Stochastic (the white line in WRB). When the usual conditions are in place (i.e. price above /below the gold line, WRB above 85 or below 15 and candle touching BB) we can use the Stochastic EA to trigger a trade when white line moves above 15/20 for long and below 80/85 for a short. This works very well with huggies in particular. I would like to know what are your thoughts regarding this concept.

Kind Regards
  • #4,092
  • May 27, 2011 6:53am May 27, 2011 6:53am
Quoting astral77
Hi BOB

I was wondering if we could have an additional EA (number 6 or 8) in our arsenal based on the short term Stochastic (the white line in WRB). When the usual conditions are in place (i.e. price above /below the gold line, WRB above 85 or below 15 and candle touching BB) we can use the Stochastic EA to trigger a trade when white line moves above 15/20 for long and below 80/85 for a short. This works very well with huggies in particular. I would like to know what are your thoughts regarding this concept.

Kind Regards
I have played with STO EA before and the problem I have with STO is they jump up and done with price movement. So during a single candle a sto line may cross and uncross and then cross several times during a candle. So I dropped using Sto several years ago in an EA. Maybe if there is a median mode it might work but the ones I saw I didnt like. If someone has something out there they can holler but that was the problem I had with them. I still use swingmans indicator with the lines on the screen and when they begin appearing I then use my sell EAs more.
  • #4,093
  • May 27, 2011 6:55am May 27, 2011 6:55am
JUST AN INTERESTING NOTE: THEY WERE MY FIRST BROKER.

Information that arrived from several independent sources is indicating that FX Solutions, a relatively small US forex broker, may be contemplating to exit the US forex market. FX Sol may focus its operations on other key markets or sell/close down altogether. FX Sol’s US employees may have already been told to start looking for a new place of work.
This is not surprising considering the very high US forex compliance costs, numerous restrictive rules imposed on NFA members (such as reporting and leverage) and the very high competition especially with a number of large traditional broker dealers entering this space.
Same rumor also has it that main reasons for this decision are indeed the high regulatory costs and that FX Solution’s own platform GTS never really picked up in the US.
  • #4,094
  • May 27, 2011 7:17am May 27, 2011 7:17am
Quoting clapan
Bob, just wondering how do you manage to take so many trades per day? I can't do that, and I hope everybody will be pleased, if author of the strategy will share his trades. I don't ask about your investor password at your real account, I can propose you something different.

Would you be so kind to open a demo account and install my 2 EAs that will copy trades from you real account to newly opened demo account without any delays. It's great pair of EAs which are very expensive, but I want to give them for you for free. And you will share that...
If I told you guys all my EAs I use I would drive you all nuts. I look at a screen and can choose from dozens of EAs. It is like golfing with 15 clubs in my bag. I also am using some test EAs I like and their variations. After my son's wedding I may get back into posting my trades every day or just retire from posting. I am at a point where there is really not that much more to add. All my variations basically do the same thing. You either counter trade or trade with the trend or range trade. Everything I know about those is basically posted. No matter what I do in counter trading you will always get into a run that you have to multi level trade out. No matter what you do in trend trading you are going to take stop losses and no matter how big your range trading system is there is always a price move that will beat it. So I pop 2-3000 in the account and trade pennies and run dozens of trades at once. Every day some of them make profit and I try to wiggle out of the rest.

Your idea does intrigue me but I am doing nothing until I get my son's wedding out of the way. Just to give you an idea I am working on is I let a range trading EA handle all my trades 2 levels deep and then I deal with the ones that go outside the range EAs trading range. To this range EA I am trying to add an EA that will trade the trend and then also counter trend. Complicated as .............. but if it works So its a 60x90 variation with ver. 5.0 counter trade and trend 1.0 mixed together. I turn it on, let it do its thing and when something pops out side its range I handle it from there. If it ever works .......... hmmmmmmmmmmmmm
  • #4,095
  • May 27, 2011 7:41am May 27, 2011 7:41am
Quoting nanningbob
I have played with STO EA... I still use swingmans indicator with the lines on the screen and when they begin appearing I then use my sell EAs more.
Thank you BOB. Yes I know what you mean. Although the instances of false breakouts and whipsaws are much fewer when the price is above / below the gold line of the sixths indi and also all other conditions are in place. Another way of limiting line retraces is to wait for the close of the candle. I am contemplating asking Steve for a Sto EA and testing it. He may oblige if he is in good mood!

Kind Regards
  • #4,096
  • Edited 10:20am May 27, 2011 7:49am | Edited 10:20am
Hi Bob,
Thanks for all the free education, I've paid a lot more for less. I'm trying to digest it all and its a lot! I read all of the docs from the first post and I've read a few hundred posts starting from the beginning and I also read your docs from the trend trading system. I guess my question is, is the system from post one still valid or the version 6 that I saw talked about in some of the posts, or is better to just stick with your the trend system being that the market is so volatile? Basically I'm not sure where to place my focus to get the most out of your systems. Thanks again! And Congrats on the wedding!
  • #4,097
  • May 27, 2011 9:10am May 27, 2011 9:10am
Congratulations for your son`s wedding. I hope everything goes well and they have a long, happy and prosperous life together.

We love your presence here in FF and your threads and we relay appreciate your kind help and guidance. Do not worry if you can not post on daily basis like before. Just spare as much or as little time you can for us.

Kind regards
  • #4,098
  • May 27, 2011 12:30pm May 27, 2011 12:30pm
Quoting astral77
Thank you BOB. Yes I know what you mean. Although the instances of false breakouts and whipsaws are much fewer when the price is above / below the gold line of the sixths indi and also all other conditions are in place. Another way of limiting line retraces is to wait for the close of the candle. I am contemplating asking Steve for a Sto EA and testing it. He may oblige if he is in good mood!

Kind Regards
The EAs we used pre Steve were Sto EAs that I switched to MA EAs. You can look at the EAs we used in version 3.0 or 4.0 and work with that one. It has sto settings in it already. A guy tried to use them as a Martingale system using the STO.
  • #4,099
  • Jun 5, 2011 4:11pm Jun 5, 2011 4:11pm
Hallo friends,
Thank you very much, Bob, for all your efforts and the very nice system.
I passed the whole weekend studying the documents, looking at the scripts/EA's and trying to get the general picture.

It's impressive the wealth of "out of the box" thinking that is presented here. I have a lot of experience looking around in forums and literature, unfortunately not in making consistently pips (yet!). A lot of concepts already seen one by one, but never put together like here! Congratulations!

I write here especially for subscribing. But also because I hope that, in the process of starting up, that I'm beginning now, some good soul will give some help if needed! LOL!

A question: I'm a bit confused by the many "related" threads/discussions. Steve's Sixths trading EA takes just some feature of the V5 system here, right? (Actually counter-trend trades from the extremes, but even without any consideration of BB: isn't it?)

Bye

BL
πάντα δοκιμάζετε τὸ καλὸν κατέχετε
  • #4,100
  • Jun 6, 2011 1:24am Jun 6, 2011 1:24am
Quoting betterlife
Hallo friends,
Thank you very much, Bob, for all your efforts and the very nice system.
I passed the whole weekend studying the documents, looking at the scripts/EA's and trying to get the general picture.

It's impressive the wealth of "out of the box" thinking that is presented here. I have a lot of experience looking around in forums and literature, unfortunately not in making consistently pips (yet!). A lot of concepts already seen one by one, but never put together like here! Congratulations!

I write here especially for subscribing. But...
Each person comes to this thread with a back ground in trading whether a lot or a little. So each person has become comfortable with certain indicators or system philosophies. Steve has a large following of highly experienced professional traders who took my sixths idea in another direction and have developed a successful system that seems to work consistently. My hat goes off to them. You will find my basic ideas have started other threads and people have run with what they are comfortable with. The truth is I have learned a tremendous amount about Forex from Steve and his friends and they have been a great help to me personally. So we all know each other and try to help each other out. You can gain a tremendous amount of knowledge just by reading their posts. I regularly follow Steve's threads but I seldom say much because I usually have said it in my own thread. I try to let their creative ideas flow which follow a different path from mine even though we are sharing some ofthe same ideas. The thing is he has guys that trade in ways I have never tried so they come up with other successful ideas. You would do well to glean what you can from them. I just have never been able to wrap my brain around sell stops, buy stops, sell limits, and buy limits. I know I should learn that stuff but I have been just been too busy with getting trades when A crosses B, etc. LOL If someone asked me what those mean I would probably go to the help section in the MT4 and copy and paste it to the thread.
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