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The KISS Trading System for EU M5

  • #21
  • Sep 15, 2011 4:40pm Sep 15, 2011 4:40pm
I like this idea, I have been making it work really well for me by using it with a couple of my normal indicators to confirm strength of movement, also I have added the rule (for me!) that the latter candle shall not be significantly smaller than the first and it shall not have a proportionally long tail at the closing end.

Many thanks for the great idea, I suspect it will also be a useful method for confirming entry points in other time frames (with appropriate mods to candle size) I expect to be playing with it for quite a while.
Don't ask me, I have no idea what's going on.
  • #22
  • Sep 15, 2011 9:57pm Sep 15, 2011 9:57pm
Quoting Gizzledonk
I like this idea, I have been making it work really well for me by using it with a couple of my normal indicators to confirm strength of movement, also I have added the rule (for me!) that the latter candle shall not be significantly smaller than the first and it shall not have a proportionally long tail at the closing end.

Many thanks for the great idea, I suspect it will also be a useful method for confirming entry points in other time frames (with appropriate mods to candle size) I expect to be playing with it for quite a while.
Can you share what is your mod and addon so that we all help each other out in this tough economy?
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  • #23
  • Edited 11:07pm Sep 15, 2011 10:00pm | Edited 11:07pm
This is my first version. Any good MQL4 programmer here please help to polish the code.
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  • #24
  • Sep 15, 2011 11:08pm Sep 15, 2011 11:08pm
This is my first version. Any good MQL4 programmer here please help to polish the code.

Please share your test results back.
Attached File(s)
File Type: mq4 KISS_V1.mq4   28 KB | 925 downloads
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  • #25
  • Sep 15, 2011 11:18pm Sep 15, 2011 11:18pm
Quoting xlitang
This is my first version. Any good MQL4 programmer here please help to polish the code.

Please share your test results back.
Thanks xlitang --will give it a go
We are all One. Be present. Be the Observer
  • #26
  • Sep 15, 2011 11:21pm Sep 15, 2011 11:21pm
Quoting purevenom
plz enlighten me...my english is bad and i really cant put your post in to my understanding.

you said for long position
1.Last two bar must be green, i.e. close greater than open. [which open did you mean and if you said 'i.e' its mean dont have to be close greater.unless you said 'must']
2.Close[1] > Close[2] ---> you just said .Last two bar must be green but if Close[1] > Close[2] its mean one green one red for me
4.Close all short positions regardless profit or loss--->its long position so why close short
again my english really...

English is not my mother tongue either. I cannot explain better than what I have written. Sorry if you don't speak FOREX, I cannot help either.
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  • #27
  • Edited 1:38am Sep 16, 2011 12:34am | Edited 1:38am
maybe Steve Hopwood can help you! you can pm him !
  • #28
  • Sep 16, 2011 1:36am Sep 16, 2011 1:36am
So there's no stop loss but we close losing positions if a set up the opposite way occurs?
  • #29
  • Sep 16, 2011 1:48am Sep 16, 2011 1:48am
Quoting pursuit
So there's no stop loss but we close losing positions if a set up the opposite way occurs?
Yes.
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  • #30
  • Sep 16, 2011 1:58am Sep 16, 2011 1:58am
Trading with no stop loss is very very risky - especially in such a nervous market where price can jump 50 pips in a heart beat on a rumour or unscheduled news. This could seriously harm your account.
  • #31
  • Sep 16, 2011 2:06am Sep 16, 2011 2:06am
Quoting xlitang
Can you share what is your mod and addon so that we all help each other out in this tough economy?
I use MT4 CCI and RSI with default settings as general indicators of strength and over bought/sold condition, also I am careful (perhaps til I get more used to it) to only trade on swings which go with the existing trend. I have Bollinger bands on the chart and watch to see that they are not closing in too much.
This all probably limits the number of trades I make but so far I have 9 trades, 21 pips in the bag, with 2 fails (one because I made a sad 'noob' mistake) the other fail was spread plus 3 pips.
I like this system because stop loss can be so close.
It seems to me the key is to be trading within a larger trend or swing.
Don't ask me, I have no idea what's going on.
  • #32
  • Sep 16, 2011 4:50am Sep 16, 2011 4:50am
Quote
I use MT4 CCI and RSI with default settings as general indicators of strength and over bought/sold condition, also I am careful (perhaps til I get more used to it) to only trade on swings which go with the existing trend. I have Bollinger bands on the chart and watch to see that they are not closing in too much.
This all probably limits the number of trades I make but so far I have 9 trades, 21 pips in the bag, with 2 fails (one because I made a sad 'noob' mistake) the other fail was spread plus 3 pips.
I like this system because stop loss can...
can you show chart with arrow where you enter please.explaining is though but picture paint thousand word
Don't mind me.. i'm crazy
  • #33
  • Sep 16, 2011 5:15am Sep 16, 2011 5:15am
I think is a very profitable strategy, and I have made some trades yday and tday.

but stop loss is something to consider as in this volatile mkt, 5 min is time enough to destroy an account if it's on the wrong position
  • #34
  • Sep 16, 2011 5:29am Sep 16, 2011 5:29am
Quoting purevenom
can you show chart with arrow where you enter please.explaining is though but picture paint thousand word
Entry point is not always the same for me, it could either be based on 'trader judgement' or 'indecision' (hmmm, which I wonder,,,)
I view all the indicators I'm using and make an individual decision based on my (limited) experience. Sorry I can't be more specific about it, it's why I wasn't so specific on my last post. This is a new method for me and my experience is quite limited, also I think it will vary with different pairs.

The comment about stop loss was good too, I put an immediate one at 30 pips and then adjust it up or down according to local suppport and resistance and other factors.

this morning I have 1 fail and 3 success with this - the fail was $8 and the successes now just over $8
Don't ask me, I have no idea what's going on.
  • #35
  • Sep 16, 2011 8:22am Sep 16, 2011 8:22am
have been observing this strategy i see this trading method as a very good trading system, but with a very big draw down if stop loss is not used when say stop loss i mean a realistic stop loss.
  • #36
  • Sep 16, 2011 8:49am Sep 16, 2011 8:49am
I totally agree that we need to use stop loss. I would set 20 pips as stop loss. Unfortunately we are living at the end time, any stupid news can tank the market.
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  • #37
  • Sep 16, 2011 8:59am Sep 16, 2011 8:59am
I really feel we should should pend our orders with at least 2 pips instead of instant market order execution
  • #38
  • Sep 16, 2011 10:11am Sep 16, 2011 10:11am
Very interesting. working on the programming to polish it atm, will try to add and RSI or RVI into this, not both tho, and I dont think that CCI and RSI is a good idea, but RSI or RVI added to something like Stoch or MACD could help. I'll look into it, will get back to you. I like this system tho. will have many test to do and will probably need your help regarding is RSI3 or 5 or 7 or 9 better? and with what can it still trade enough (not to many barrems)

BTW, wich timeframe do you mostly trade this on?
  • #39
  • Sep 16, 2011 10:16am Sep 16, 2011 10:16am
Thanks. Look forward to the polished codes. This system now is for M5. For other TF we need to change Candle Body length a bit. Let's get it working for M5 first.
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  • #40
  • Sep 16, 2011 10:31am Sep 16, 2011 10:31am
Also working here on having relevant historical Data..... so might take a couple days, still trying to get a modelling over 90%
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