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  • #81
  • Jan 6, 2013 7:21pm Jan 6, 2013 7:21pm
Quoting Dodgy Salmon
Hello again Tradestar1, I do have to say that your signature had me in stitches for a little while :-)

I have never heard the cheechako thing before but not being from Alaska... you know.

I simply wanted to point out that I have many, many years of experience in this business and that what I am seeing here is a simple 2 ma crossover system which will NOT work out long term. You can try and help people and I realise that negative thoughts are not always what people want to hear.

I have nothing against ma cross systems as such, it's just...
Glad you enjoyed my signature I have a somewhat warped sense of humor. Also I lived in AK for about 11 years..... liked it a lot ..

We encourage you to open a thread to share some of your knowledge, as to my sharing my method .... I have, and as stated before about how it is difficult it is for someone to trade somebody else's methods so I pretty much don't go there anymore.

anyway lets not hijack spydy's thread and open one up for these discussions.
  • #82
  • Jan 6, 2013 7:54pm Jan 6, 2013 7:54pm
Quoting tradestar1
We encourage you to open a thread to share some of your knowledge.
Well I would do but considering the reaction I got from just stating that a 2 ema crossover system doesn't have too much of a lifespan I may not bother. I think you are right about the trust thing, no one will take it from me that the OP's system as is will not work because I only just started posting here so suddenly that invalidates my 40 years experience of investing in one market or another. With the passing of time you lose interest in trying to convince people of things. If these greenhorns have got their mind set on something then let them carry on. It's no sweat off my brow and it's not my money.
  • #83
  • Jan 6, 2013 8:00pm Jan 6, 2013 8:00pm
Quoting Dodgy Salmon
I realise that the haste of youth will often overlook the caution of old age.
The "haste of youth" has yielded the likes of Bill Gates, Mark Zuckerburg, and so forth, untold fortunes.

Living in the past is not very useful and each must find their own way ?
When the Joker is in the deck.. fear not and play it well
  • #84
  • Jan 6, 2013 9:46pm Jan 6, 2013 9:46pm
This is actually quite nice, I haven't yet read the whole thread but I am making good profits with this (demo). I am using it on 5m and 15m charts and making good gains like 10-20 pips. Thanks for this post.
  • #85
  • Jan 7, 2013 12:49am Jan 7, 2013 12:49am
Quoting Dodgy Salmon
Well I would do but considering the reaction I got from just stating that a 2 ema crossover system doesn't have too much of a lifespan I may not bother. I think you are right about the trust thing, no one will take it from me that the OP's system as is will not work because I only just started posting here so suddenly that invalidates my 40 years experience of investing in one market or another. With the passing of time you lose interest in trying to convince people of things. If these greenhorns have got their mind set on something then let them...
40 yrs of experience and yet you failed to realize the obvious.He is a position trader adding to position once the trend takes off.There are numerous ways to find the trend (method is irrelevant of finding it)and frankly not hard.Hard part is adding to a position and holding on to it for maximum profit.
Sounds familiar? Donchian did it which was copied by Turtles although Donchian had different concepts to enter a trade like 4week rule nevertheless he was looking for strong trend to pile on profits.
To someone making over 2000% in less then a year is staggering.

My total utmost respects for Spyderman
I have been a silent lurker supporter.
In trading, you have to be defensive and aggressive at the same time
  • #86
  • Jan 7, 2013 3:41pm Jan 7, 2013 3:41pm
Spidey,

What do you think of NOT immediately taking the 7/22 cross? Instead, wait until the 1st pullback and subsequent pullbacks, and ONLY enter the add-on trades. Why do this? From casual observation, I believe it would limit false reversals, due to ranging market conditions and make the "new" trend prove itself before we commit our capital.

If the add-on trades are where the lion's share of the profits are, it would seem a prudent method.

Personally. I would prefer a higher strike rate and lower net pips production in order to achieve this goal. I would maintain all of your other rules and setup.

I will be testing this with my live account, and report back if anyone is interested.

  • #87
  • Jan 7, 2013 4:21pm Jan 7, 2013 4:21pm
Quoting Bobcat2
Spidey,

What do you think of NOT immediately taking the 7/22 cross? Instead, wait until the 1st pullback and subsequent pullbacks, and ONLY enter the add-on trades. Why do this? From casual observation, I believe it would limit false reversals, due to ranging market conditions and make the "new" trend prove itself before we commit our capital.

If the add-on trades are where the lion's share of the profits are, it would seem a prudent method.

Personally. I would prefer a higher strike rate and lower net pips production in order...
Yeah, that might help with some of the chop. Just picked a Yen cross below. Doing as you suggest would have cost us a couple of hundred pips getting into this last trend late, but it sure would have helped avoid all that carnage in the preceding months.

I wonder about lot sizing. I've been 1x on addons and 3x on the initial. Main reason for the smaller addons is I figured your going to get some drawdown at the end of the trend before you exit. But maybe they should be consistent across the trade.

Definitely keep us posted and I'll look at that as well.


Thanks for the input Bobcat.
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  • #88
  • Jan 7, 2013 4:22pm Jan 7, 2013 4:22pm
Quoting Davit
40 yrs of experience and yet you failed to realize the obvious.He is a position trader adding to position once the trend takes off.There are numerous ways to find the trend (method is irrelevant of finding it)and frankly not hard.Hard part is adding to a position and holding on to it for maximum profit.
Sounds familiar? Donchian did it which was copied by Turtles although Donchian had different concepts to enter a trade like 4week rule nevertheless he was looking for strong trend to pile on profits.
To someone making over 2000% in less then a year...
Thanks for the kind words Davit,

Hope to see you around more often.
  • #89
  • Jan 7, 2013 6:00pm Jan 7, 2013 6:00pm
Enjoy your thread v. much as I also use similar indy.
Not often to find traders using MACD (same go to BB).
Love the way you stacking trades (excellent).
A lot to exchange views with you, spyderman.
Pls. keep posting.
Trade As A Sniper
  • #90
  • Jan 8, 2013 10:27am Jan 8, 2013 10:27am
hi all...can anyone explain the indicator--pipsometer_5_?????also all the other data that is posted on the right of my charts==risk, risk money,account equity etc, it's the same info regardless which chart pair is being shown???
  • #91
  • Jan 8, 2013 10:45am Jan 8, 2013 10:45am
Quoting sfg7th
hi all...can anyone explain the indicator--pipsometer_5_?????also all the other data that is posted on the right of my charts==risk, risk money,account equity etc, it's the same info regardless which chart pair is being shown???
sfg,

The pipsometer is an indi that tells you how much in profit your positions are for that pair. It's in pips. It aggregates the readings for all positions on that pair. So if you have 5 different entries at different levels you might have entries sitting at +150, +75, +60, +25, -30. The pipsometer would then read +280 pips. It doesn't take into account any difference in the lot sizes for each position.

The risk,etc. readings are for the "position calculator" It was inadvertently left out of the first indi zip file, but I uploaded it later. Some are having trouble with getting it to work so I also uploaded two other lot size calculators. Just look in the paperclip at the top of the thread for all the downloads.
  • #92
  • Jan 8, 2013 12:27pm Jan 8, 2013 12:27pm
Hi Spyderman, thx for system

will test the system, also on lower time frame and multiplay way

regards
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The market was bullish, turned bearish, and you'are brokish!!!
  • #93
  • Jan 8, 2013 12:43pm Jan 8, 2013 12:43pm
Quoting FXThug
Hi Spyderman, thx for system

will test the system, also on lower time frame and multiplay way

regards
It'll be interesting to see how this translates to lower time frames. Obviously global market sentiment won't come into play much. You'll really have to watch out for the news releases though. On the daily, you can ride those out, but lower time frames would really skew your results.

You have a nice spread there on the E/U so you might do some nice scalping. Keep us posted.
  • #94
  • Jan 8, 2013 12:55pm Jan 8, 2013 12:55pm
Just had a thought as I was looking at FXThug's chart.

What if we were to use the 22ma as an early exit signal. Rather then waiting for the MACD/MA cross you could exit if price closes on the wrong side of the 22. Now in the case of FX's chart that would have taken a trader out early on that last recent down move. But doing a quick look at my charts on the dailies, it looks like it would have closed the trades 2 or 3 days earlier then the cross, sometimes saving hundreds of pips. You multiply that by the number of positions and you have a significant difference.

Then it makes me wonder if the cross is necessary at all. Just trade on the right side of the 22 ma. Need to check further to see how often you get a close on the wrong side of the 22 that does not continue on and give a cross.

As you all are looking at your charts, keep this in mind.
  • #95
  • Jan 8, 2013 2:20pm Jan 8, 2013 2:20pm
Thanks Spydy, that clears it up, I downloaded the other files KEEP-UP the good work for us wannab's
  • #96
  • Jan 8, 2013 5:43pm Jan 8, 2013 5:43pm
Quoting spyderman
Just had a thought as I was looking at FXThug's chart.

What if we were to use the 22ma as an early exit signal. Rather then waiting for the MACD/MA cross you could exit if price closes on the wrong side of the 22. Now in the case of FX's chart that would have taken a trader out early on that last recent down move. But doing a quick look at my charts on the dailies, it looks like it would have closed the trades 2 or 3 days earlier then the cross, sometimes saving hundreds of pips. You multiply that by the number of positions and...
Spidey,

Kathy Lien has what she calls the MOMO Trade. She uses price crossing over an EMA20 with standard MACD crossing @ 0 level for confirmation.
  • #97
  • Jan 8, 2013 9:23pm Jan 8, 2013 9:23pm
Quoting Bobcat2
Spidey,

Kathy Lien has what she calls the MOMO Trade. She uses price crossing over an EMA20 with standard MACD crossing @ 0 level for confirmation.
Not sure who Kathy Lien is. Must be some kind of genius... Of course moving average strategies will never work.
  • #98
  • Edited 3:26am Jan 9, 2013 12:03am | Edited 3:26am
Here are a couple links to an MA method where there is NO money management in place, in other words you are always in the market .... You may have to sign up to be able to get to the page but it is free and is also a pretty good site ........

The methods use an SMA vs Price.... when price closes across the MA you enter that direction..... you stay in untill price closes back across the MA at which time you close and reverse position. Sounds simple enough..... Remember these results have absolutely NO money management ......................

20 PERIOD SMA vs PRICE
Over the 5 years of trades YTD is 2767.1pips gained.

This one is using a 50 period SMA....... same rules as above.....
50 PERIOD SMA vs PRICE
Over the 5 years of trades this one YTD is 5700.4 pips gained.

Now with no money management it would take some big brass balls to trade it because there are considerable periods of losing trades. But with good risk management and a little fine tuning you have the beginnings of a profitable tradable system.........

Here is the LINK for several more methods. Including a couple MACD ........
  • #99
  • Jan 9, 2013 12:50am Jan 9, 2013 12:50am
Quoting spyderman
Selected pairs:

It's important to realize that I do not trade this system on a purely mechanical or technical basis. I don't take every cross or trade every pair.
Some pairs and market conditions just aren't conducive to a trend play position.

Check out the NzdUsd chart. Lots of crosses and a couple of trends, but extremely choppy. I'd just as soon stay out of these types of pairs until they look a little more trendy.
Hi Spyderman,

I got to know you from Chubbybgood's 3% risk give you bliss system thread where you volunteer to write EA and all the help you have given to the readers following the thread. I know from there you are a nice chap. Glad to learn that you have started your own thread.

I have a question regarding choppy market. Normally, we only know that the market is choppy after the fact. Each day when you are scanning the market, at that point in time, you may not be aware that this currency pairs is in a sideway. By the time you know it, you have already incur some losses.

One method is to use the higher high higher low/lower high lower low as criteria. There are currency pairs which exhibit increasing wider range during consolidation period: higher high lower low (a few pips higher than the previous high and a few pips lower for lower low) before it continues its previous trend direction. If you wait for the PA to settle down before entering the market, you may find that you have given a large portion of the profit to the market because it may not be obvious for you to determine when it start to continue the trend.

I am wondering does it make any sense to follow all the arrow signals irrespective of whether it is choppy market (especially at its infancy where it is not so obvious to detect it) or not. The trick is to use more currency pairs to offset the minor losses associated with the false signals from the sideway trend. Increasing the sampling size may magnified the profits and helps to minimize the losses caused by the false signals. If this works, what sample size is consider a reasonable one?

Any other better idea to screen out the sideway currency pairs? I hope you understand where I am coming from.
  • #100
  • Jan 9, 2013 8:37am Jan 9, 2013 8:37am
Quoting patguay
Hi Spyderman,

I got to know you from Chubbybgood's 3% risk give you bliss system thread where you volunteer to write EA and all the help you have given to the readers following the thread. I know from there you are a nice chap. Glad to learn that you have started your own thread.

I have a question regarding choppy market. Normally, we only know that the market is choppy after the fact. Each day when you are scanning the market, at that point in time, you may not be aware that this currency pairs is in a sideway. By the time you know it, you...
Patguay,

Welcome to the thread. It comes down to the old saw...the more bad pips you filter out, the more good pips you fail to get. I really don't know the best way. It's something each trader will have to work out in keeping with their own trading style. Bobcat mentioned earlier not taking the first cross and waiting for an "addon" signal. That may help in many cases. However there are always those trades that make a cross and then head parabolically upward or downward. Your going to miss those kinds of moves.

So far I'm content with the way this is working for me. The proof will be when some of these currently strong trends come to an end and close out. How much of this floating profit can be booked?
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