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Simple Simon Balance Line Trading

  • #141
  • Jun 11, 2011 12:32am Jun 11, 2011 12:32am
The link contains the alert already written. Just download into the indicators folder and restart MT4 and it is available for any chart. No need to modify that I am aware of. Give it a try and let us know.
  • #142
  • Jun 11, 2011 3:48am Jun 11, 2011 3:48am
Codemeister,
I downloaded the indicator, applied it to my charts and nothing happened??

Quoting CodeMeister
The link contains the alert already written. Just download into the indicators folder and restart MT4 and it is available for any chart. No need to modify that I am aware of. Give it a try and let us know.
  • #143
  • Jun 11, 2011 3:50am Jun 11, 2011 3:50am
hi,

sorry for the technical question but I m having a hard time to put a template to its folder.. I am trying to insert it but it never shows in the folder..i restart mt4 everytime still the problem exist..any help is really appreciated!

steven
  • #144
  • Jun 11, 2011 4:31am Jun 11, 2011 4:31am
Quoting Colostarr
Codemeister,
I downloaded the indicator, applied it to my charts and nothing happened??

The alert will show when the price moves close to the MA. Its an alert, not an indicator.
  • #145
  • Jun 11, 2011 4:41am Jun 11, 2011 4:41am
Steven,
The best thing to do is apply "Bill Williams Alligator". Chage the color of red and green lines to "none". If you have any pivot indicators I would also apply them to this chart.

Once you have those things in place, go up to the "templates" icon in MT4 click the pull down menu and select "Save Template", name it whatever you like - for me I named it "Simple Simon". Now you can apply that template to any chart.

I'll attach the pivot indicator that I use to this post. I got the indicator from the Nanningbob thread in this forum and found it to be very effective. Drop these into your experts/indicators folder.

Quoting steven
hi,

sorry for the technical question but I m having a hard time to put a template to its folder.. I am trying to insert it but it never shows in the folder..i restart mt4 everytime still the problem exist..any help is really appreciated!

steven
Attached File(s)
File Type: ex4 NB S-R 4H&D.ex4   6 KB | 396 downloads
File Type: mq4 NB S-R 4H&D.mq4   6 KB | 405 downloads
  • #146
  • Jun 11, 2011 4:51am Jun 11, 2011 4:51am
thanks Colostarr.. its ok now
  • #147
  • Jun 11, 2011 10:58am Jun 11, 2011 10:58am
See the attached EURCHF chart. Starting from the 6th of June to the 10th of June there were 6 trades to be had and 6 winners. There are no loosig trades on this chart ANYWHERE. 6 trades + 373 pips

I mocked up the chart to reflect how I would have moved my stops with each trade. It's easy to mock up a chart, it's not so easy to stick with the plan when you are trading live though! Remember the 1st goal is to lock in pips, then get comfortable with the trade!

The attached chart should give you an idea with regard to moving your stops. It's a pretty marked up chart, let me know if you have any questions
Attached Image (click to enlarge)
Click to Enlarge Name: eurchf.gif Size: 37 KB
  • #148
  • Jun 11, 2011 11:02am Jun 11, 2011 11:02am
Heading out to the tavern to get a few drinks! Been a crazy week, time to forget about this stuff for the day!

Have a great weekend!@
  • #149
  • Jun 11, 2011 1:09pm Jun 11, 2011 1:09pm
This is sort of sickening. I'll post one by one, 4 charts: EURUSD, GBPUSD, GBPJPY, EURCHF

This was a bad week for me because I was not at my computer for the better part of the week.

But this is pretty indicative of an average week for me

First chart up is EURUSD = 3 trades, 3 wins 208 pips
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.gif Size: 32 KB
  • #150
  • Jun 11, 2011 1:12pm Jun 11, 2011 1:12pm
EURCHF 6 trades, 373 pips

For the week: EURUSD 208 pips
EURCHF 373 pips
Total 581 pips (9 trades, 9 winners)
Attached Image (click to enlarge)
Click to Enlarge Name: eurchf.gif Size: 37 KB
  • #151
  • Jun 11, 2011 1:14pm Jun 11, 2011 1:14pm
3 wins 4 trades = 211 pips


For the week:
EURUSD 208 pips
EURCHF 373 pips
GBPJPY 211 pips

Total 792 pips (13 trades, 12 winners)
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy.gif Size: 29 KB
  • #152
  • Jun 11, 2011 1:25pm Jun 11, 2011 1:25pm
3 trades, 3 wins 174 pips

For the week:
EURUSD 208 pips
EURCHF 373 pips
GBPJPY 211
GBPUSD 174

Total 966 pips (16 trades, 15 winners) 99% win rate for the week

Stick to the rules, let price come to you, move your stops, be patient

You'll be rewarded over and over again
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.gif Size: 37 KB
  • #153
  • Edited 4:48pm Jun 11, 2011 3:47pm | Edited 4:48pm
Colostarr, do you move your stop at the close of every bar when the bar makes a higher low (for buys) or a lower high (for sells)?

Your trailing stops look simple on the charts, but in real life they will be hard to place consistently if managed manually.

There are bunch of TS EAs in post #6 of the link that look very solid. I haven't used the code myself, so I can't endorse it, but what impressed me was the effort put into the documentation. There are other trade management EAs out there of course,but most of them are multi-featured and difficult to use.

http://www.forexfactory.com/showthre...63#post4583163
  • #154
  • Jun 12, 2011 12:01am Jun 12, 2011 12:01am
Codemeister,
The 1st goal for me is to lock in profits. Once I can lock in some profits, say 20 - 30 pips, I won`t always move my stop to each new high/low.

I concur that it can be tricky when you do it manually. I am very happy with getting 20 - 30 pips, so I will let price continue to do what it is going to do. If it comes back and takes me out at +20 pips so be it.

But often times price will allow me to lock in more, just from being patient.

How many times have you taken a trade and price moves the other way?

It was that action that prompted me to wait it out. I wasn`t patient enough and would close my trades with 2 or 3 or 5 pips, only to watch it keep going afterward. When price goes against you, it seems like it will go against you quickly.

Learning to be patient has allowed me to watch price go WITH me almost as quickly as it goes against me.

I`m not real big into the EA`s. I`ve used too many of them, lost too much and got too lazy and stopped managing my trades.

If you come across a good trade management EA let me know, otherwise I wont test one myself.

Quoting CodeMeister
Colostarr, do you move your stop at the close of every bar when the bar makes a higher low (for buys) or a lower high (for sells)?

Your trailing stops look simple on the charts, but in real life they will be hard to place consistently if managed manually.

There are bunch of TS EAs in post #6 of the link that look very solid. I haven't used the code myself, so I can't endorse it, but what impressed me was the effort put into the documentation. There are other trade management EAs out there of course,but most of them are multi-featured and...
  • #155
  • Jun 12, 2011 12:42am Jun 12, 2011 12:42am
Seems simple and effective. You've caught my attention. Thanks.
  • #156
  • Jun 12, 2011 8:10am Jun 12, 2011 8:10am
very welcome

Quoting Amart83
Seems simple and effective. You've caught my attention. Thanks.
  • #157
  • Jun 12, 2011 8:47am Jun 12, 2011 8:47am
Quoting Colostarr
If you come across a good trade management EA let me know, otherwise I wont test one myself.
Try mptm ea, it's available here at FF.
  • #158
  • Jun 12, 2011 9:03am Jun 12, 2011 9:03am
Can you detail what it does??

Quoting 0002097
Try mptm ea, it's available here at FF.
  • #159
  • Jun 12, 2011 10:02am Jun 12, 2011 10:02am
Hello to you Colostarr,

Thanks for the thread, and your efforts.

I'm a new trader, but am reading/studying lot's, and beginning to demo trade.

I have a question re Bills alligator balance line indicator.

I can't upload the alligator attachment at the moment, (pc issues) so after doing some googling, i note that Bill's alligator blue line is a 13 sma, 8 bars forward?. Excuse my lack of knowledge here, but can i just use a 13 sma in place of the alligator blue line you use? Same thing, or near enough?

Thank's, and best wishes,

Greg.
'Fail to plan, plan to fail'
  • #160
  • Jun 12, 2011 10:33am Jun 12, 2011 10:33am
Yes the 13 SMA is the same thing as the blue line from the Alligator! Great job!

Quoting Guitarbloke
Hello to you Colostarr,

Thanks for the thread, and your efforts.

I'm a new trader, but am reading/studying lot's, and beginning to demo trade.

I have a question re Bills alligator balance line indicator.

I can't upload the alligator attachment at the moment, (pc issues) so after doing some googling, i note that Bill's alligator blue line is a 13 sma, 8 bars forward?. Excuse my lack of knowledge here, but can i just use a 13 sma in place of the alligator blue line you use? Same thing, or near enough?

Thank's, and best wishes,...
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