DislikedWrote an EA and checked the results
The are not so much pleasing
maybe my misunderstanding of the methodIgnored
These are edges, how you trade it will be vital to your result.
tradewith60
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DislikedWrote an EA and checked the results
The are not so much pleasing
maybe my misunderstanding of the methodIgnored
DislikedThis thread is here to discuss a trading system using a simple buy sell line.
For my buy sell line I use a 50sma, if price is below we only short, if price is above we only long. (closed price only here.)
Then we follow some very simple rules to trade.
I use 2 signals for a trade with the buy sell line, here are the rules for the first signal.
1. price below the 50sma we only short, price above the 50 sma we only long.
2. open and close price must engulf the previous bars open/close.
3. entry is at 1 pip +spread below the signal bars low (for...Ignored
DislikedWorks on all TF's, all pairs... preferred TF for me is H4 followed by H1.
.Ignored
Dislikedsma shows different readings day vs 4hr.
Are you applying 4hr or shorter?
I am posting the graphs to show the dilemma. 2 opposing trades.Ignored
DislikedIf 1hr chart sma is above price and 4hr chart is below then which one is more "reliable" or the one you pull the trigger.Ignored
DislikedCongratulations on a superb method, 60minuteman
I've been trading a similar method to this for years using a different filter and a slightly shorter time frame .Its very reliable if you just aim for small wins.
Engulfing bars really are an under-appreciated timing tool but EAs never perform as well as an experienced traders brain. No surprise there.
Staying away from the chop is certainly the key to very long runs of winners and short runs of losers.
I try other methods but I keep coming back to the engulfing bar method again and again.
The...Ignored
DislikedDoes the entrance have to take place the very next bar after the signal candle?Ignored
DislikedI once used the 50 MA thing. It's not bad but causes you to miss some great trades. But great trades are missed all the time so keep up the good work !Ignored