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Yet another moving average crossover system

  • #801
  • Nov 7, 2011 7:40am Nov 7, 2011 7:40am
Originally Posted by demoreal http://www.forexfactory.com/images/buttons/viewpost.gif
I'm not sure as what the rule may be for the entry - do we wait for a cross to be confirmed by waiting till the end of 1 hour period on hourly charts.

I have found tht the PriceBar Clock is very helpful to use for entries. I also often draw a marker line ...my "line in the sand" to get a clear visual of PA...like on the chart below.
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  • #802
  • Nov 7, 2011 7:47am Nov 7, 2011 7:47am
Quoting lawgirl21
Originally Posted by demoreal http://www.forexfactory.com/images/buttons/viewpost.gif
I'm not sure as what the rule may be for the entry - do we wait for a cross to be confirmed by waiting till the end of 1 hour period on hourly charts.

I have found tht the PriceBar Clock is very helpful to use for entries. I also often draw a marker line ...my "line in the sand" to get a clear visual of PA...like on the chart below.

Notice how the PriceBar Clock and the "sand line" confirm downward movement..at least for this point in time.
Attached Image
  • #803
  • Nov 7, 2011 8:44am Nov 7, 2011 8:44am
Quoting lawgirl21
Notice how the PriceBar Clock and the "sand line" confirm downward movement..at least for this point in time.
Hi Lawgirl21.

That's a good idea - 'sand lines'.

If I understood correctly in this case I keep observing the 15 minute period chart. As soon as I see the cross I keep a close eye all the way till the end of that period. Then at the end of that particular 15 minute period I draw a line that represents the level of the golden SMMA at that point of time (that should be the entry point as well)

Thanks for sharing.

Best wishes
DR
  • #804
  • Nov 7, 2011 9:15am Nov 7, 2011 9:15am
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Update - Stopped out +2. Waiting for next Bus
  • #805
  • Nov 7, 2011 11:06am Nov 7, 2011 11:06am
EU anemic price action today.... 1 hour range bound..Maybe after NY lunch some order flow in one direction or another
  • #806
  • Nov 7, 2011 7:45pm Nov 7, 2011 7:45pm
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  • #807
  • Nov 8, 2011 2:54am Nov 8, 2011 2:54am
GBPUSD and EURUSD - M30/M5

Testing out Maudur's excellent trade management EA.
Attached Images
  • #808
  • Nov 8, 2011 4:02am Nov 8, 2011 4:02am
My 2nd trade for this week.
Nice cross but counter-trend...
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  • #809
  • Nov 8, 2011 7:58am Nov 8, 2011 7:58am
Quoting forexpippy
GBPUSD and EURUSD - M30/M5

Testing out Maudur's excellent trade management EA.
How's it working out? Ready for updates?
  • #810
  • Nov 8, 2011 7:59am Nov 8, 2011 7:59am
Tough trading week...
  • #811
  • Nov 8, 2011 8:15am Nov 8, 2011 8:15am
I am beginning to think that the Asian Market indicator is a better breakout guide these days than the DailyBoxLines, which mark the first four hours of the broker's session. Asian indicator is more conservative and there are some very good traders who claim that the Big Dogs are setting their trading parameters with the Asian session.
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  • #812
  • Edited 9:10am Nov 8, 2011 9:00am | Edited 9:10am
Quoting lawgirl21
How's it working out? Ready for updates?
It's working very well actually. It seems to work well with this strategy because ideally (for me anyway) you want to secure some profits, move to breakeven and then chase the bigger moves.

Closing the whole trade at initial take profit means you will always miss the big moves.

Leaving the whole trade open to chase big moves means you are more likely to get stopped out.

But partially closing means you get a balance of both worlds. The EA helps pick logical points for those partial closures.

In addition, the auto lot sizing in relation to your predefined risk and stop losses is a great feature (saves me having to input all the figures into a web calculator).

I also like that it's not an "always on" EA, you basically use it to mange the trade, so there's no risk of it placing a trade accidentally. You pick your entries, define your risk and then it carries out the manual labour.

EDIT: Sorry, I should make it clear, I'm not using the MA cross over EA, i'm using an EA which manages your trades once you've picked an entry! My own opinion is that an EA picking entries based on MA crosses will not be particularly profitable in the long run. Also, this strategy is SO easy and enjoyable to trade manually, I can't see why anyone would want to.
  • #813
  • Nov 8, 2011 9:05am Nov 8, 2011 9:05am
Quoting lawgirl21
I am beginning to think that the Asian Market indicator is a better breakout guide these days than the DailyBoxLines, which mark the first four hours of the broker's session. Asian indicator is more conservative and there are some very good traders who claim that the Big Dogs are setting their trading parameters with the Asian session.
I suspect this is why I have more success using the box lines against the 4 hours prior to the London open (as opposed to my brokers new day) since that's the 2nd half of the Asian session.

I'll have a look at how the whole session highs/lows vary against the last 4 hours though, will be interesting to see how that affects my breakout entries (I would have thought it would reduce the chance of catching a false BO).
  • #814
  • Nov 8, 2011 10:47am Nov 8, 2011 10:47am
Quoting forexpippy
I suspect this is why I have more success using the box lines against the 4 hours prior to the London open (as opposed to my brokers new day) since that's the 2nd half of the Asian session.

I'll have a look at how the whole session highs/lows vary against the last 4 hours though, will be interesting to see how that affects my breakout entries (I would have thought it would reduce the chance of catching a false BO).
I think it does reduce the chance of a false BO. See what you think...
  • #815
  • Nov 8, 2011 11:08pm Nov 8, 2011 11:08pm
Quoting forexpippy

EDIT: Sorry, I should make it clear, I'm not using the MA cross over EA, i'm using an EA which manages your trades once you've picked an entry! My own opinion is that an EA picking entries based on MA crosses will not be particularly profitable in the long run. Also, this strategy is SO easy and enjoyable to trade manually, I can't see why anyone would want to.

Hi, you mean, with this EA, you can open a trade MANUALLY, and let the EA close it, as the MA cross against you? Or set it with different TP's with different lot sizes?

Thanks!
  • #816
  • Nov 9, 2011 1:17am Nov 9, 2011 1:17am
Nice setup on USDCHF -trend trade
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  • #817
  • Nov 9, 2011 2:27am Nov 9, 2011 2:27am
Quoting iamnoel
Hi, you mean, with this EA, you can open a trade MANUALLY, and let the EA close it, as the MA cross against you? Or set it with different TP's with different lot sizes?

Thanks!
Hi, iamnoel

The process works as follows:

1. You identify your point of entry
2. Open the EA and input your stop loss, risk and take profit targets (which in this case are based on fibo numbers)
3. The EA will place the trade immediately, basing your lot size on your predefined risk and stop loss.
4. The EA will manage the partial closures of the trade at each take profit target.
  • #818
  • Nov 9, 2011 2:36am Nov 9, 2011 2:36am
It is the EA Maudur introduced to us, right?

Please advice
Andreas

Quoting forexpippy
Hi, iamnoel

The process works as follows:

1. You identify your point of entry
2. Open the EA and input your stop loss, risk and take profit targets (which in this case are based on fibo numbers)
3. The EA will place the trade immediately, basing your lot size on your predefined risk and stop loss.
4. The EA will manage the partial closures of the trade at each take profit target.
  • #819
  • Nov 9, 2011 2:48am Nov 9, 2011 2:48am
Yes it is. It's working very well actually.

If you want the ability to secure profits but still be able to chase the bigger moves, this does pretty much everything you need. It's also nice to have all the take profit levels on the screen.

But anyway, apologies LG, we're cluttering the thread (although, it's still useful to have the info here since it's a good all round trade management tool)
  • #820
  • Nov 9, 2011 2:51am Nov 9, 2011 2:51am
Thanks a lot.
I still struggle with optimizing the exits and will test the EA.

It is surprising that I'm getting much better results after I can't see the candles anymore...

Quoting forexpippy
Yes it is. It's working very well actually.

If you want the ability to secure profits but still be able to chase the bigger moves, this does pretty much everything you need. It's also nice to have all the take profit levels on the screen.

But anyway, apologies LG, we're cluttering the thread (although, it's still useful to have the info here since it's a good all round trade management tool)
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