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End of Day Moving Average Cross

  • #1
  • First Post: Edited 5:49pm Sep 14, 2011 4:33pm | Edited 5:49pm
Once a day trade using the day chart.
Look for a confirmed cross of 5 sma and 13 smma.
Stop 50
Tp 50
BE plus spread
Ts 25

I monitor all pairs. Generally there are at least two or three set ups per day.

This is generally a slow time around Sydney open and spreads tend to be a little higher with a variable spread broker. But the success rate is fairly high.

Might be due to stop hunting that takes place around market openings so that even if the cross is not a good signal the prices will move a bit in the direction of the cross anyway. If it is a good signal it is possible to catch a decent move.

I open the trade manually but then let stealth V.2 (ea) manage the trade. Stealth V.2 has a hidden stop and profit function so the broker cannot stop hunt the trade.

Patience needed especially since this is the slowest time in the markets. I usually leave the trading desk for a few hours.
Attached Image (click to enlarge)
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Attached File(s)
File Type: mq4 MA_Crossover_Signal.mq4   4 KB | 602 downloads
File Type: mq4 Stealth V.2.mq4   7 KB | 580 downloads
File Type: tpl xa.tpl   4 KB | 512 downloads
  • #2
  • Sep 14, 2011 4:52pm Sep 14, 2011 4:52pm
If I use Stealth V.2 I need to make sure mt4 is up and running since the stops and tp's are not sent to the broker but are managed from the computer much like a manual stop or tp would be.
  • #3
  • Edited 5:58pm Sep 14, 2011 5:04pm | Edited 5:58pm
Since forex markets can be unpredictable and sometimes there are glitches in online trading where the connection can be lost I will set an emergency stop and tp with the broker set at a much higher rate than Stealth is set for just in case the central banks intervene or some other surprise news and cause a wild spike and the site is down. There are no guarantees but it is an effort to minimize any losses.

I set a 70 pip emergency stop and tp with the broker (but Stealth is set for 50).
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  • #4
  • Sep 15, 2011 12:51am Sep 15, 2011 12:51am
took 9 hours, but 1st of the 3 positions closed on trailing stop.
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  • #5
  • Sep 15, 2011 5:09am Sep 15, 2011 5:09am
Second position hit trailing stop.. 13 hours...
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  • #6
  • Sep 15, 2011 5:44am Sep 15, 2011 5:44am
closed 3rd trade manually. 14 hours. Have to be away from the desk and not sure about power source.
All in all it was 3 good trades. Total about 48 pips.
It requires patience and confidence in the strategy.
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  • #7
  • Sep 15, 2011 3:45pm Sep 15, 2011 3:45pm
Quoting jiva34
Ts 25
I originally assumed your trailing stop methodology would be such:

-Open a trade with 50p SL and 50p TP
-If floating profit gets to +25p, move stop up 25p.
-If floating profit gets to +50p, TP is hit.
-No other stop movement occurs

...but that does not seem to be the case here:

Quoting jiva34
took 9 hours, but 1st of the 3 positions closed on trailing stop.
As your short at 160 looks to be closed around 143.

Or here, where a short at 2536 looks to have hit a trailing stop at 2506:

Quoting jiva34
Second position hit trailing stop.. 13 hours...
Could you please elaborate on your trailing stops?
Hindsight is 20/20
  • #8
  • Sep 15, 2011 3:59pm Sep 15, 2011 3:59pm
Quoting cosgrove
I originally assumed your trailing stop methodology would be such:

-Open a trade with 50p SL and 50p TP
-If floating profit gets to +25p, move stop up 25p.
-If floating profit gets to +50p, TP is hit.
-No other stop movement occurs

...but that does not seem to be the case here:



As your short at 160 looks to be closed around 143.

Or here, where a short at 2536 looks to have hit a trailing stop at 2506:



Could you please elaborate on your trailing stops?
Yes I noticed that too. I don't know why that happened like that. I mean coming up less than the 25 on that first trade. Except that sometimes markets move fast and even though the stop is hit there might be some move in market prices before the broker actually transacts, slippage or whatever... Maybe requotes? Dunno...
Stealth does not send the stop and tp to the broker until the prices actually are hit, the stops and tp sit on the computer hidden from the broker...
I'm going to check the journal, I have a suspicion that there may have been several tries to close. That is not the usual case.
FXDD has been fairly reliable.
  • #9
  • Sep 15, 2011 4:04pm Sep 15, 2011 4:04pm
Thursday end of day and start of Friday,
no signals.
Disappointed no trades but relieved at the same time, Friday can be a rough day for trading, so I can just skip it this week and wait till Monday open....
  • #10
  • Sep 15, 2011 4:40pm Sep 15, 2011 4:40pm
Quoting cosgrove
I originally assumed your trailing stop methodology would be such:

-Open a trade with 50p SL and 50p TP
-If floating profit gets to +25p, move stop up 25p.
-If floating profit gets to +50p, TP is hit.
-No other stop movement occurs

...but that does not seem to be the case here:



As your short at 160 looks to be closed around 143.

Or here, where a short at 2536 looks to have hit a trailing stop at 2506:



Could you please elaborate on your trailing stops?
if the trailing stop is set to twenty five, and the instrument goes 35 in your direction, then retraces twenty five or more pips, the trailing stop will be triggered at a profit of 10 pips.
  • #11
  • Sep 15, 2011 6:36pm Sep 15, 2011 6:36pm
Quoting cosgrove
I originally assumed your trailing stop methodology would be such:

-Open a trade with 50p SL and 50p TP
-If floating profit gets to +25p, move stop up 25p.
-If floating profit gets to +50p, TP is hit.
-No other stop movement occurs

...but that does not seem to be the case here:



As your short at 160 looks to be closed around 143.

Or here, where a short at 2536 looks to have hit a trailing stop at 2506:



Could you please elaborate on your trailing stops?
The spread could also be a problem. Be +2 was the setting for the first trailing stop to follow by 25.
When the price moved BE + 2 the trailing stop began at BE +2.
But the spread on that pair was +8.
So when the stop moved 25 it followed by 25 +2 from BE. But the because the spread was 8 not 2, the profit was 25 - 6.
So the trailing stop should have started at BE +8 to lock in for no loss.
But that would trigger the trailing stop at 25+8 rather than 25+2. +33 seems a little too high for a lock in after BE. Big spread is the problem.
I may chose to avoid pairs with large spreads if it is a problem.
Thanks for the discussion.
  • #12
  • Edited 5:15pm Sep 18, 2011 4:59pm | Edited 5:15pm
No signals on day chart.
For beginning of week I look for signals on week chart.
There are 3.
widened stop and limit to 80 pips each
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  • #13
  • Sep 18, 2011 6:04pm Sep 18, 2011 6:04pm
Thanks for sharing Jiva34,

I love mechanical systems, especially with RR 1:1 or better. No emotions involved, no place for human mistakes. Can U tell how long have U been trading it?

Cheers
P.
youtube.com/@pantherfxt
  • #14
  • Sep 18, 2011 7:45pm Sep 18, 2011 7:45pm
You are really missing some opportunities by closing your trades so soon.......
Here are the results of a similar system that trades EUR/USD only but stays in the trade till the MAs recross at which time the initial trade is closed and reversed.....
Also your stops are to close......
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  • #15
  • Sep 18, 2011 8:01pm Sep 18, 2011 8:01pm
Quoting tradestar1
You are really missing some opportunities by closing your trades so soon.......
Here are the results of a similar system that trades EUR/USD only but stays in the trade till the MAs recross at which time the initial trade is closed and reversed.....
Also your stops are to close......
Probably so. Will be adjusting as we go.
  • #16
  • Sep 18, 2011 8:02pm Sep 18, 2011 8:02pm
Quoting Polleczko
Thanks for sharing Jiva34,

I love mechanical systems, especially with RR 1:1 or better. No emotions involved, no place for human mistakes. Can U tell how long have U been trading it?

Cheers
P.
Not that long. Using this system as it is only a few weeks.
  • #17
  • Sep 18, 2011 8:09pm Sep 18, 2011 8:09pm
Quoting tradestar1
You are really missing some opportunities by closing your trades so soon.......
Here are the results of a similar system that trades EUR/USD only but stays in the trade till the MAs recross at which time the initial trade is closed and reversed.....
Also your stops are to close......
What are the rules of that system, tradestar?
Care to share?
Thanks
  • #18
  • Edited 9:37pm Sep 18, 2011 8:43pm | Edited 9:37pm
Done that before, don't care to go there again.....
I have quit trying to train people in my systems.... they don't follow the rules nor do they listen or learn.

I was just trying to get jiva34 to expand her horizons a bit regarding her system.
  • #19
  • Sep 18, 2011 9:17pm Sep 18, 2011 9:17pm
1st trade stopped out on trailing stop.
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  • #20
  • Sep 19, 2011 2:52am Sep 19, 2011 2:52am
Technical difficulties caused a premature close in the second trade.
Very frustrating when that happens. But it does happen. Just part of online trading.
Was switching back and forth between templates trying to unlock the computer which became jammed. In so doing I inadvertently changed the settings for stealth from 80 pip stop to 50 pip stop since the templates were preset for 2 different stealth settings. and the trade stopped out.
If the programming for an indi or an expert is sloppy it can eat up a lot of cpu unnecessarily. Looks like I have a bad macd indi which I like to monitor separately from time to time. It caused the jam.
One trade left hanging the balance.
(What the heck, got back in)...
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