X-Man's Super Simple System | Page 397 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Super Simple System for Scalping 180 replies

Please suggest a simple & effective Method/System of "Trading System" Forum to newbie 182 replies

Super Simple System 314 replies

Another great Breakout GBP/JPY System (Dachel's Simple system) 62 replies

X-Man's super simple system 4 hour method 1 reply

Attachments: X-Man's Super Simple System
Exit Attachments

X-Man's Super Simple System

  • #7,921
  • Edited 9:29am Jul 31, 2012 7:34am | Edited 9:29am
Quoting Star178
Attached herein is the EA I described in the earlier post with explanation pdf. (The EA I had on my chart consist of 2 EAs. 1 for trade execution and 2 is the Quik Trailing).
thanks

can i ask one more question, when i enter with the sl and tp?

will the EA still be effective or the platform just follow my sl and tp set before?

good trading to all
  • #7,922
  • Jul 31, 2012 8:50am Jul 31, 2012 8:50am
Hi, is that we should enter when the candle was closed
Is that any scenario to enter in the middle of candle?

Thx
  • #7,923
  • Jul 31, 2012 8:44pm Jul 31, 2012 8:44pm
I backtested this system in the year 2000 (January 5th thru December 31st) and I was able to obtain a little over 2,500 pips for the whole year with little drawdown using the 4hr method (Although I did change a couple minor things such as when to take profit and where I'm setting my stops). Does this backtesting appear close to what you guys are making in one year using the 4HR method ?
  • #7,924
  • Aug 1, 2012 12:29am Aug 1, 2012 12:29am
Quoting xuflyeven
thanks

can i ask one more question, when i enter with the sl and tp?

will the EA still be effective or the platform just follow my sl and tp set before?

good trading to all
You need to understand your MT4 platform; if your broker is ECN, the procedure is to enter "buy" or "sell" manually first. Then you 'edit' the order by setting the SL and TP, (that will last a few minutes).

Should you have the EA installed, when you "buy" manually, the EA will set the SL and TP once the order is received (this happens about less than 10 seconds) and the SL and TP lines are drawn on the chart.

If the settings are not what you want; don't worry (one advange I like Quik Trailing is that) you double click either the SL or TP line and drag to your desired level.

Try out the EA on a demo account to test it's performance.
  • #7,925
  • Aug 1, 2012 12:35am Aug 1, 2012 12:35am
Quoting Star178
You need to understand your MT4 platform; if your broker is ECN, the procedure is to enter "buy" or "sell" manually first. Then you 'edit' the order by setting the SL and TP, (that will last a few minutes).

Should you have the EA installed, when you "buy" manually, the EA will set the SL and TP once the order is received (this happens about less than 10 seconds) and the SL and TP lines are drawn on the chart.

If the settings are not what you want; don't worry (one advange I like Quik Trailing is that) you double click either the SL...
Attached Image (click to enlarge)
Click to Enlarge Name: 123.jpg Size: 191 KB


it didn't work~ why?
  • #7,926
  • Aug 1, 2012 1:44am Aug 1, 2012 1:44am
Quoting fxprodigy
I backtested this system in the year 2000 (January 5th thru December 31st) and I was able to obtain a little over 2,500 pips for the whole year with little drawdown using the 4hr method (Although I did change a couple minor things such as when to take profit and where I'm setting my stops). Does this backtesting appear close to what you guys are making in one year using the 4HR method ?
Hi fxprodigy.

I do not doubt that you have done your backtesting diligently. But I have a few things in mind:
- did you backtest this manually?
- did you take every buy / sell signal? or you have a specific markt session where you would trade.
- did you use any filter condition other than the H4 setup condition? like for exmapl the TDI BB 68% and 38% factor, the TDI PLxTSL above or below MBL, etc.

bear in mind the current trading range is much smaller than in 2000.
- daily range is below 100 pips
- weekly range below 300pips
you need to take this into consideration for current market condition.


my experience shows that H4 and D1 trade results are better than H1.
the resulst may vary becasue of different exit strategy used in backtesting.
The determining factor if you look at total pips is the exit management of your trades and not so much based on entry.
Overall results in pips also varies and that depends on whether you use scale-in and scale-out strategy.

Hope this helps in your study.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #7,927
  • Aug 1, 2012 1:45am Aug 1, 2012 1:45am
Hello dear S3 friends! :-)

Are you ready?

Any idea for the London open today?
  • #7,928
  • Aug 1, 2012 1:50am Aug 1, 2012 1:50am
Quoting smarco
Hello dear S3 friends! :-)

Are you ready?

Any idea for the London open today?

My idea for EU is ...trade what you see on your chart.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #7,929
  • Aug 1, 2012 2:10am Aug 1, 2012 2:10am
emmanuel7788:

I changed a couple things from the X-man style of trading. For example I don't trade only when their is a rebound from the 60 EMA. Most of my entries are based of the first HA and also the TDI for confirmation. If the PA is above the 60 EMA then I can only trade the upside and if the PA is below the 60 EMA I only trade the downside with this I include the basics such as support & resistance, I also use the master candle to eliminate small ranging markets. For stop loses I always do either the swing high or swing low when is near a S or R level. If is a really big candle stick (More than 70 pips) then i put my stop a little closer. When I am +20 pips I move my stop loss to break even. When is more than 20+ I keep moving it up based on the candles sticks (For Ex: If a Doji candle appear I would immediately move my stop loss to its low).

I think their is a problem with the way I exit my trades though because many times my stop losses are hit and the trend continues.

Could you please advice me. Thank for your feedback I really appreciate it.
  • #7,930
  • Aug 1, 2012 3:20am Aug 1, 2012 3:20am
Quoting xuflyeven
Attachment

it didn't work~ why?
Frankly I have not tried out on Gold or Silver yet, so to compare the difference below are two charts both having the same 2 decimal places.

On one chart the SL and TP lines are drawn but not on the other. Why!!!
Because on the XAUUSD chart, the order is closed (hit SL) as soon as the order is made. Reason because of high Spread (yellow circle on both charts).

So you need to change all your settings to accommodate the Spread.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2012-08-01 XAUUSD.jpg Size: 224 KB
Click to Enlarge Name: 2012-08-01 AUDJPY.jpg Size: 208 KB
  • #7,931
  • Aug 1, 2012 3:21am Aug 1, 2012 3:21am
Quoting smarco
This is Asain session!
Set timezone in your indicators :-)
mi broker is gmt+3

se metto dalla 23.00-7.00 il risultato e quello sotto
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_39 Aug. 01 10.20.png Size: 23 KB
Attached Image
  • #7,932
  • Aug 1, 2012 3:24am Aug 1, 2012 3:24am
Quoting pinux76
mi broker is gmt+3

se metto dalla 23.00-7.00 il risultato e quello sotto
GMT+3 should be:

-London-

30
10:00
19:00
0
19:00
0
  • #7,933
  • Aug 1, 2012 3:55am Aug 1, 2012 3:55am
Today trade on AUDUSD & AUDJPY both hit 1st TP(30pips).
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2012-08-01 AUDUSD 1TP.jpg Size: 180 KB
Click to Enlarge Name: 2012-08-01 AUDJPY 1TP.jpg Size: 183 KB
  • #7,934
  • Aug 1, 2012 3:57am Aug 1, 2012 3:57am
Quoting pinux76
dimmi tu eheh

i need box pre london the asian sessione 23.00->7.00
thanks
Now it's ok! the green box is London area.
After them you have Francoforte and Asian area
  • #7,935
  • Aug 1, 2012 6:04am Aug 1, 2012 6:04am
entry Short correct?
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_10 Aug. 01 13.03.gif Size: 24 KB
  • #7,936
  • Aug 1, 2012 6:04am Aug 1, 2012 6:04am
Quoting xuflyeven
Attachment

it didn't work~ why?
Hi Xu, I tried a different approach and had this results:

1) open a trade manually.

2) attached the EA (at default values) on the chart.

3) the EA draw the SL and TP lines at 10 times the default values but having a crying face and a comment "trade not allowed": I cannot move the SL or TP line, but its values are registered with the broker.

I think this EA is NOT suitable for this symbol.
Attached Image (click to enlarge)
Click to Enlarge Name: 2012-08-01 Gold tradenotallowed.jpg Size: 134 KB
  • #7,937
  • Aug 1, 2012 6:23am Aug 1, 2012 6:23am
Quoting Star178
Hi Xu, I tried a different approach and had this results:

1) open a trade manually.

2) attached the EA (at default values) on the chart.

3) the EA draw the SL and TP lines at 10 times the default values but having a crying face and a comment "trade not allowed": I cannot move the SL or TP line, but its values are registered with the broker.

I think this EA is NOT suitable for this symbol.

I suggest check your Terminal tab Expert and see if there is any error message log.

could be the 2 decimal place your EA cannot handle.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #7,938
  • Aug 1, 2012 6:26am Aug 1, 2012 6:26am
Quoting pinux76
entry Short correct?

on the charts short looks like the better option.
I shorted too. price tested yesterday high and cannot break above.
so likely retrace back into yesterday' range
but news in less than 2 hours ... so manage well!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #7,939
  • Aug 1, 2012 6:40am Aug 1, 2012 6:40am
Nice opportunity on USD/CAD -1H. What do u think?
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenShot083.jpg Size: 165 KB
  • #7,940
  • Aug 1, 2012 7:21am Aug 1, 2012 7:21am
Has anyone done anything like this, see attached screenshot, I went back over the last 30 trades and recorded them in a spreadsheet, apart from making me review my trades in detail, which was interesting, the information gained is also interesting.

Most of the columns are obvious. The last one RETRACE is how many pips priced retraced against my entry point.

2 pip gain is as a result of my stop moving to B/E +2 and being stopped out as a result of a pull back.

I trade the eurusd in futures (6E) my time zone is GMT+1 and I trade London open to European close.
Attached Image (click to enlarge)
Click to Enlarge Name: Statistical Analysis.png Size: 18 KB
Cut your Losers short and let your Winners run.
2 traders viewing now