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Quick and Dirty EOD

  • #121
  • Jul 5, 2012 1:27pm Jul 5, 2012 1:27pm
concise code, and nice results.

however, could you please clarify one issue?

in your code, you always used 5ema's close price of bar 1 (the second bar from right most) and 8ema's open price of bar 0 ( the 1st bar from right, current bar).

see the code in red below:
if(iMA(NULL,PERIOD_D1,5,0,MODE_EMA,PRICE_CLOSE,1)>iMA(NULL,PERIOD_D1,8,0,MODE_EMA,PRICE_OPEN,0))

why is this? why not use 8ema's close price of bar 1 or open price of bar 1?

the open price of bar 0 is not same as close price of bar 1, though you have great performance in the backtest.

just curious.......

thanks.


Quoting mahanxiong
Good job everyone.
My girl code this EA which's her first or 2ed EA.It's great.Welcome for any updates and please have a good deal with the chinese words in the code.Good luck.
If people here interest in it,we will make it more user friendly.
thanks.

mahanxiong
  • #122
  • Jul 5, 2012 9:21pm Jul 5, 2012 9:21pm
Thanks Hugh for this system. I really like what I see.
  • #123
  • Jul 5, 2012 10:53pm Jul 5, 2012 10:53pm
in fact, the monthly chart might not be needed.

on the daily chart, put on 2 more EMAs: one 110 EMA on 'close', and one 180 EMA on 'open'. these two EMAs are same as 5EMA and 8EMA on monthly chart, assuming one month approximately produces 22 bars (depending on your broker taking sunday bar or not).

just try to simplify the work of whoever's trading using this.
  • #124
  • Jul 6, 2012 12:24am Jul 6, 2012 12:24am
thanks friend now i see the monthly was never in in up trend it was just side ways , i pulled the trigger getting excited , hey friend is it possible to post few trades that u take with monthly chart so i know how trending monthly chart it has to be , i just look at ema cross but i guess its not enough it has to be clearly slopping up trend like a ladder , do u all even see if the monthly bar is green or red while taking the trade
  • #125
  • Jul 6, 2012 6:55am Jul 6, 2012 6:55am
Quoting charvo
in fact, the monthly chart might not be needed.

on the daily chart, put on 2 more EMAs: one 110 EMA on 'close', and one 180 EMA on 'open'. these two EMAs are same as 5EMA and 8EMA on monthly chart, assuming one month approximately produces 22 bars (depending on your broker taking sunday bar or not).

just try to simplify the work of whoever's trading using this.

Yeah Charvo,

Good catch. I've had those on my daily for a while now. They help to get everything at a glance. I still switch back to the monthly though to get a "feel" for how it's flowing. Just looking at 2 ma's doesn't always give me a complete picture.
  • #126
  • Jul 6, 2012 6:58am Jul 6, 2012 6:58am
Quoting charvo
in fact, the monthly chart might not be needed.

on the daily chart, put on 2 more EMAs: one 110 EMA on 'close', and one 180 EMA on 'open'. these two EMAs are same as 5EMA and 8EMA on monthly chart, assuming one month approximately produces 22 bars (depending on your broker taking sunday bar or not).

just try to simplify the work of whoever's trading using this.
I just look for the ideal setup on the daily & if I see one then I check the monthly. If both concur I set up the trade. Save a lot of time toggling between M. & D.
  • #127
  • Edited 10:28am Jul 6, 2012 9:59am | Edited 10:28am
1st position 273 pips
2nd "" 221 pips
3rd "" 213 pips
4th "" 194 pips
5th "" 148 pips
6th ''" 60 pips
7th "" 55 pips
8th """ 52 pips
9th "" 48 pips
10th "" 6 pips

So who's still scared to trade the news I especially look forward to high impact news 1270 pips off a 273 pip ride on 10 trades so far during this super news week will liquidate all positions before close to avoid weekend gap,thanks Happy trading
Attached Image (click to enlarge)
Click to Enlarge Name: hugh.gif Size: 30 KB
To Write Sonnets On Soliloquies In A Fortress Of Solitude
  • #128
  • Jul 6, 2012 11:21am Jul 6, 2012 11:21am
Quoting PipLegend
1st position 273 pips
2nd "" 221 pips
3rd "" 213 pips
4th "" 194 pips
5th "" 148 pips
6th ''" 60 pips
7th "" 55 pips
8th """ 52 pips
9th "" 48 pips
10th "" 6 pips

So who's still scared to trade the news I especially look forward to high impact news 1270 pips off a 273 pip ride on 10 trades so far during this super news week will liquidate all positions before close to avoid weekend gap,thanks Happy trading
Now that is aggressive compounding!
  • #129
  • Jul 7, 2012 2:21am Jul 7, 2012 2:21am
Quoting PipLegend
1st position 273 pips
2nd "" 221 pips
3rd "" 213 pips
4th "" 194 pips
5th "" 148 pips
6th ''" 60 pips
7th "" 55 pips
8th """ 52 pips
9th "" 48 pips
10th "" 6 pips

So who's still scared to trade the news I especially look forward to high impact news 1270 pips off a 273 pip ride on 10 trades so far during this super news week will liquidate all positions before close to avoid weekend gap,thanks Happy trading
Hi PipLegend

could you be kind enough to provide your train of thought entering those trades? It's impressive nonetheless, but i notice there was no stoploss, and entries were entered not on daily close/open only?

Do you move down to lower TFs in adding on the trades? Or do you take direction higher than Daily to add on aggressively? sorry for asking too much, as I am still a learner.

@hughbriss: thank you for your system, its brillant!

Thank you.
  • #130
  • Edited 9:00am Jul 7, 2012 8:45am | Edited 9:00am
Quoting membina
Hi PipLegend

could you be kind enough to provide your train of thought entering those trades?

To membina I don't want to deviate to much from thread but in order to pull this type of trading off
1st You have to know what price is telling you{patterns,formations}that's the answer to the "technical analysis fallacy" You'll never know the true power any indicator has until you harness the message price is telling you first.
2nd If you truly want to trade this way consistently then monitor 20 plus pairs because not all pairs trend this strong all the time,like this past whole month trading this way on the gbp/nzd meant you could of took the whole year off it dropped over 1700 pips starting since 5/23!Only trade what the market does not what you think it's going to do! Will you always be right?of course not but when I was a kid one night I had a dream I was Tarzan, swinging through the jungle,so just always know your risk and have your stop loss in place in case a spike wants to come and collapse all your trades,okay,got it?{by the way if you go back and check my chart look for the red line my stop loss Was in place after the 5th trade look closely you'll see it}
3rd You have to be willing to take risks like me my state of mind when trading forex is I'm a maverick or cavalier so to speak better yet make it more like a paladin!For instance take a look at this chart yes it's the forbidden 15 minute chart but only observe this after first looking at your weekly and daily charts,starting on 6/29 there was a potential double top setting up and I waited to see what price would do and once price started moving I jumped in,in fact you can see it's a near 400 pip drop,I had sell orders{Check post#100 page 7 where I stated I hope price would continue and crash through ma's} that got stopped out but then I kept re-entering on the break of the last lowest low of a pullback{on a 15m chart after gauging D1,W1,got it?}and then at one point it's was just smooth sailing meaning no spikes to trap all trades,so in a nutshell the 273 pip ride that turned to 1200 was because the market stopped acting like a monster and became generous sorta like beauty and the beast!{hmm... there was a thread around here somewhere....}

P.S this was also a super news week also that drove eur/usd this far which is what i was patiently waiting for but all in all it's about not being scared to pull the trigger,but first you must gain confidence in time to do that and learn what the market really wants to do,like I mentioned earlier Hugh made this system newbie friendly but experienced and semis will appreciate this more because most signals{especially pure price action}generated from indy's on D1,W1 timeframes will hold more clout,but here's to another fabolous week and Hugh thanks for this setup happy trading to all
Attached Image (click to enlarge)
Click to Enlarge Name: hugh.gif Size: 20 KB
To Write Sonnets On Soliloquies In A Fortress Of Solitude
  • #131
  • Jul 7, 2012 11:26pm Jul 7, 2012 11:26pm
@PipLegend

Thanks. That clears up what i have been thinking...if the trend is strong (look at dailies and weeklies), a 15m chart would be a good opportunistic way to add on trades (not for the faint hearted).

My experience with entering adding on trades using the hourly as signal is not so fruitful. so was thinking of using 15min to time add-ons.

Or i could just stick to briss's method to enter only on hourly. trying to maximise gains while preserving capital.

Gurus out there please share your thoughts. Keen to learn.

my humble 2c.
  • #132
  • Jul 8, 2012 1:59am Jul 8, 2012 1:59am
Quoting membina
@PipLegend

Thanks. That clears up what i have been thinking...if the trend is strong (look at dailies and weeklies), a 15m chart would be a good opportunistic way to add on trades (not for the faint hearted).

My experience with entering adding on trades using the hourly as signal is not so fruitful. so was thinking of using 15min to time add-ons.

Or i could just stick to briss's method to enter only on hourly. trying to maximise gains while preserving capital.

Gurus out there please share your thoughts. Keen to learn.

my humble 2c.
If you stick to the system you will have lots of false starts and small losses but you only need to catch one good hourly trend, which happens all the time, and you will be banking 1000's of pips for very small risk.
  • #133
  • Jul 8, 2012 7:26am Jul 8, 2012 7:26am
Quoting Hugh Briss
If you stick to the system you will have lots of false starts and small losses but you only need to catch one good hourly trend, which happens all the time, and you will be banking 1000's of pips for very small risk.
Hugh -

I have missed something, I don't remember seeing posts regarding using the hourly. Can you point me in the right direction please. thanks, p.
  • #134
  • Jul 8, 2012 8:05am Jul 8, 2012 8:05am
Quoting piprac
Hugh -

I have missed something, I don't remember seeing posts regarding using the hourly. Can you point me in the right direction please. thanks, p.
No, you are right, I was in the wrong system mode! Piplegend above obviously has been mixing and matching systems. The above is true about hourly trends but for this system it needs testing fully on the daily first and then we can think about the hourly.
  • #135
  • Jul 8, 2012 9:22am Jul 8, 2012 9:22am
Quoting Hugh Briss
No, you are right, I was in the wrong system mode! Piplegend above obviously has been mixing and matching systems. The above is true about hourly trends but for this system it needs testing fully on the daily first and then we can think about the hourly.
OK, thanks. I thought I had some reading to catch up with.
  • #136
  • Jul 8, 2012 9:46am Jul 8, 2012 9:46am
Quoting PipLegend
Yes you caught me red handed being bad,breaking the rules,but not all the rules,you see I hope even Hugh will agree with me when I say price action on the daily,weekly,and monthly gives very strong signals although only a few unless you want to trade 26 different pairs!

Sorry for the confusion I was using entries off other methods to add on trades but only after gauging a potential setup on Hughes system rules,you see if we check the D1 charts on 6/29 the candle closed down after strong bull ride which if you also check past candles the pattern formed a potential double top,check also W1{I know Hugh advises Monthly,check post#98 page 7}there is strong levels in which price seemed like it didn't want to break through,so there you got me,sorry for the mix up and to all fx period in general is not for the faint hearted I mean if you want to catch it you have to have alot of willpower and patience,because we all know patience is a virtue,no really it's one of the greatest virtues and together with these two traits n sync you'll get it eventually,peace and good skill{s} trading.

P.S I said good skill{s} because I remember in the 4th grade taking karate and my sensei told me never say good luck always say good skill{s} because there's no such thing as luck,everything you do to make progress in anything,everthing is based on relying on your own skill{s} and it's funny down the line years later I heard luck is preparation meeting opportunity either way ya'll should get the picture! Here's to a good week can't wait to see the open tonight thanks Hugh and I see you doing your thing with the other version of this I didn't get a chance to study it yet though but I'm a pass through there soon,see what's shaking! keep up the Great work! peace
To Write Sonnets On Soliloquies In A Fortress Of Solitude
  • #137
  • Jul 8, 2012 10:04am Jul 8, 2012 10:04am
Quoting Hugh Briss
If you stick to the system you will have lots of false starts and small losses but you only need to catch one good hourly trend, which happens all the time, and you will be banking 1000's of pips for very small risk.
Thanks Hugh, also been reading up on your daily, hourly method as well. Very fruitful too! You've been a great help!
  • #138
  • Jul 8, 2012 10:14am Jul 8, 2012 10:14am
Quoting PipLegend
To membina I don't want to deviate to much from thread but in order to pull this type of trading off
1st You have to know what price is telling you{patterns,formations}that's the answer to the "technical analysis fallacy" You'll never know the true power any indicator has until you harness the message price is telling you first.l
@PipLegend

thanks for the generous sharing. Appreciate it very much.
  • #139
  • Jul 8, 2012 10:23am Jul 8, 2012 10:23am
No problem all, making money is the important thing but let's keep the systems on the right threads!
  • #140
  • Jul 9, 2012 11:11am Jul 9, 2012 11:11am
Hugh,

What are your thoughts on a situation like this on Cad/Chf, where we have a nice movement in our direction but we haven't hit our TP yet and now we are getting a potential setup for another entry.

Could we move our initial order to BE and then enter again?
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