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A "new" simple system based on MA

  • #921
  • Dec 24, 2012 8:46pm Dec 24, 2012 8:46pm
Hello gentlemen,

Thanks for offering your system and helping people learn.

I'm looking forward to being involved in the group.

Dave
  • #922
  • Dec 26, 2012 12:56am Dec 26, 2012 12:56am
I took the time to read over the entire thread and understand how it works. I also tried several different indicators that might help give us more of an edge, but I didn't find anything better than the ones we are using.

Several months ago, hmaoui mentioned that if anyone had an idea of how to improve the exits to let him know. The only thing I can think of that might help would be, if you recognize that you are in a long term trend, to hold some of the position until you get a long term exit signal.

On the two charts, you can see that a 4hr trend is emerging. You could possibly hold until the first 4hr bar closes below the short term MAs. I would not leave a large position on, though. However, you can make a lot when you are right.

Dave
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 0001 - Long term entry - 1.png Size: 74 KB
Click to Enlarge Name: 0002 - Long term exit - 1.png Size: 70 KB
  • #923
  • Dec 26, 2012 1:08am Dec 26, 2012 1:08am
This is my 2 setup at the start of the London opening and I have entered the position with 15 S/L 30 T/P. As of now, I am getting 10 pips EURJPY and the 3 pips for USDJPY. If you guys have a good idea as to when I should put my trailing stop, do offer your advise. Thanks.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: ej setup lo 26 dec 2016.gif Size: 21 KB
Click to Enlarge Name: usdjpy setup lo 26 dec 2016.gif Size: 17 KB
  • #924
  • Dec 26, 2012 2:47am Dec 26, 2012 2:47am
Quoting patguay
This is my 2 setup at the start of the London opening and I have entered the position with 15 S/L 30 T/P. As of now, I am getting 10 pips EURJPY and the 3 pips for USDJPY. If you guys have a good idea as to when I should put my trailing stop, do offer your advise. Thanks.
What a wonderful day to start trading after Christmas holiday. As the trade go in the direction of the predicted trend, I have close half the position of both currency pairs around 30 and 15 pips, and have adjusted the stop loss to break even + 3 pips for the remaining positions. No predetermined T/P as I hope to ride the wave until US opening session.
  • #925
  • Dec 26, 2012 2:53am Dec 26, 2012 2:53am
Quoting patguay
What a wonderful day to start trading after Christmas holiday. As the trade go in the direction of the predicted trend, I have close half the position of both currency pairs around 30 and 15 pips, and have adjusted the stop loss to break even + 3 pips for the remaining positions. No predetermined T/P as I hope to ride the wave until US opening session.
This is how the chart look like after I have closed 50% of my profitable trades and let the remaining trades ride the waves.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: ej 50% close position lo 26 dec 2016.gif Size: 21 KB
Click to Enlarge Name: usdjpy 50% close lo 26 dec 2016.gif Size: 19 KB
  • #926
  • Dec 28, 2012 1:45am Dec 28, 2012 1:45am
Quoting patguay
This is how the chart look like after I have closed 50% of my profitable trades and let the remaining trades ride the waves.
I want to say a big thank you to hmaoui for introducing this simple trading system. I am using 1 hr and 4 hrs as reference for trend trading. Once the trend has been confirm to align for both time frame, I will zoom in to 15 mins to optimize my trade entry. So far, my account has appreciated 5.75% within 2 days of demo trading. I plan to trade for another 2 months before going live with this trading strategy. The reason being that there are quite a number of currency pairs trending now, especially the Japanese cross pairs. So to conclude that this trading system is good at this stage is rather preliminary. I hope to achieve similar consistency to hmaoui in the next 2 months.
  • #927
  • Dec 28, 2012 3:32am Dec 28, 2012 3:32am
Now EURJPY seems to have reversed and I am sitting on the profits of 36 pips by placing the stop loss to break even. Since the reverse trend has just begun, I use 1 min timeframe to trade instead of 15 mins. For the past 2 days, I am using 15 mins instead of 1 min to trade.
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy break even lo 28 dec 2016.gif Size: 20 KB
  • #928
  • Dec 28, 2012 3:52am Dec 28, 2012 3:52am
Quoting patguay
Now EURJPY seems to have reversed and I am sitting on the profits of 36 pips by placing the stop loss to break even. Since the reverse trend has just begun, I use 1 min timeframe to trade instead of 15 mins. For the past 2 days, I am using 15 mins instead of 1 min to trade.
I am not sure how low it is going further down but I just closed 80% of the trade with 50 pips profit. The remaining 20% will continue to ride the wave until it get stop out at breakeven.

For those who are skeptical with this trading strategy, I encourage you to give it a try. The rules are really simple to follow and it is really stress free to follow up on the trades. I spend less than a few hours to close the trade after entering it. I have already posted some charts in the past few days and I will let the charts speak (how simple it is) for itself .
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy close 80% lo 28 dec 2016.gif Size: 21 KB
  • #929
  • Jan 2, 2013 7:51pm Jan 2, 2013 7:51pm
Quoting patguay
The remaining 20% will continue to ride the wave until it get stop out at breakeven.
Hello, why stop at breakeven? You can close your trade when a bar closed above 60 EMA. I think it would be better this way.

Regards,
Dragon
  • #930
  • Jan 2, 2013 8:07pm Jan 2, 2013 8:07pm
Quoting dragonspeak
Hello, why stop at breakeven? You can close your trade when a bar closed above 60 EMA. I think it would be better this way.

Regards,
Dragon
I am just experimenting different stop loss method. If the stop loss is too tight, sometimes it will retrace and get stop out before it continues the main trend direction. Setting the stop loss at breakeven allows the trade to have more space to move about.
  • #931
  • Jan 3, 2013 9:34am Jan 3, 2013 9:34am
Quoting patguay
I am just experimenting different stop loss method. If the stop loss is too tight, sometimes it will retrace and get stop out before it continues the main trend direction. Setting the stop loss at breakeven allows the trade to have more space to move about.
I mean for the 20% remaining.

Regards,
Dragon
  • #932
  • Jan 7, 2013 11:50am Jan 7, 2013 11:50am
Quoting dragonspeak
I mean for the 20% remaining.

Regards,
Dragon
I have already replied you my answer in the previous mail.
  • #933
  • Jan 9, 2013 10:04am Jan 9, 2013 10:04am
Hi Hmaoui,
Thank you for continuing this forum. What time frame are you trading off of now? 15m and 5m? 1hr and 15m? wayne
  • #934
  • Jan 11, 2013 2:54am Jan 11, 2013 2:54am
Hello,

I'm still monitoring your thread. I find this system really amazing, and I'm re-reading the thread nearly everyday. I'm really trying to make it work I know you advised me to use a bigger TF, but I want to teach myself scalping, since I am available to monitor my trades the whole day. Anyway so far I have a few questions...

If I understand right I should be using one tf to spot the trade setup, a bigger one to confirm it and a shorter one for the entry... Which would mean I trade based on a trade setup that I look for on M5, check the bigger picture on M30 and then switch to M1 to search for an entry.

1) You have emphasized on the fact that we need to wait for the pullback to enter. Are we talking small pullback on M1, or a larger one on M5?
2) What do you think of the fibonacci tool? Since I don't have that much experience in trading (doing it for 4 months now) I like having some sort of extra confirmation that the pullback has ended.
3) When finding the entry, I am assuming the LT mmas provide a much stronger dynamic support/resistance, right? Most times, in my experience, when PA touched ST MMAs they didn't always hold out, and trend resumed only when PA touched LT MMAs... Am I wrong in saying this?

I am using a decent mm, but my entries are far from being perfect yet... I revise what went wrong with the loser trades and each time I see my mistake. But these three things keep coming back and I'm not quite sure how to understand that...

I am sorry for asking stupid and newbie questions, and I am very sorry if I am making you repeat yourself. I really appreciate you helping people out like this, OP.
  • #935
  • Jan 13, 2013 5:55am Jan 13, 2013 5:55am
Hi PistolDave !

First point I really thank you to join us. As you told us, it is simple and you dont need to modify the spirit of the system, even the indies except if you dont master it and you master others.
To answer (lately - sorry) your question : I think you had an excellent idea ! You have to analyze the market on the long term TF (Daily, 4h, and 1h) to get an idea of the long term trend. If you enter on the long term trend side, you can take a larger position and then take your profit on 50 or 75% of your initial position and let the rest running until a correction signal. I will work on this idea to get clear rules. Thank you !

Quoting PistolDave
I took the time to read over the entire thread and understand how it works. I also tried several different indicators that might help give us more of an edge, but I didn't find anything better than the ones we are using.

Several months ago, hmaoui mentioned that if anyone had an idea of how to improve the exits to let him know. The only thing I can think of that might help would be, if you recognize that you are in a long term trend, to hold some of the position until you get a long term exit signal.

On the two charts, you can see that a 4hr...
  • #936
  • Jan 13, 2013 5:57am Jan 13, 2013 5:57am
Hi Patguay !

PP levels are good to define targets on an intraday basis.

Quoting patguay
This is my 2 setup at the start of the London opening and I have entered the position with 15 S/L 30 T/P. As of now, I am getting 10 pips EURJPY and the 3 pips for USDJPY. If you guys have a good idea as to when I should put my trailing stop, do offer your advise. Thanks.
  • #937
  • Jan 13, 2013 6:58am Jan 13, 2013 6:58am
Hi WDays,

Sorry for my late answer. Look at the points below :

1/You ook on a higher TF to check the higher TF trend and then you trade on a smaller TF and you enter on a pullback on this TF. For example, if you want to trade the 5mn TF, you check the 30 or 15mn TF trend, and check for a pullback on the 5mn, not on the 1mn. Using 1 min is ok only if the market is strongly bullish and that you dont have PB on 5mn

2/I dont use a lot Fibbo, I prefer to check at the price action and looking for good candles patterns (doji, hammer, hanging man etc...)

3/It depends on the market and that's why it is important to master the price action patterns. Sometimes, it will retrace on the LT EMAs, but sometimes it will retrace only to the ST EMAs and it depends a lot of the strength of the movement. Dont try to predict the market look at at PA on the support/resistance levels (EMAs).

I hope it wil help you

Quoting WDays
Hello,

I'm still monitoring your thread. I find this system really amazing, and I'm re-reading the thread nearly everyday. I'm really trying to make it work I know you advised me to use a bigger TF, but I want to teach myself scalping, since I am available to monitor my trades the whole day. Anyway so far I have a few questions...

If I understand right I should be using one tf to spot the trade setup, a bigger one to confirm it and a shorter one for the entry... Which would mean I trade based on a trade setup that I look for on M5, check...
  • #938
  • Jan 13, 2013 1:33pm Jan 13, 2013 1:33pm
Quoting hmaoui
Hi WDays,

Sorry for my late answer. Look at the points below :

1/You ook on a higher TF to check the higher TF trend and then you trade on a smaller TF and you enter on a pullback on this TF. For example, if you want to trade the 5mn TF, you check the 30 or 15mn TF trend, and check for a pullback on the 5mn, not on the 1mn. Using 1 min is ok only if the market is strongly bullish and that you dont have PB on 5mn

2/I dont use a lot Fibbo, I prefer to check at the price action and looking for good candles patterns (doji, hammer, hanging man...
Hello and thanks again. Thank you so much for all of your help, I feel ready for the new trading week now. I use candle patterns but not enough as it would seem, I will focus more on looking at the candles around S/R zones from now on, thank you for all of the advice! I wish you a very successful trading!
  • #939
  • Jan 13, 2013 1:58pm Jan 13, 2013 1:58pm
Quoting hmaoui
Hi Patguay !

PP levels are good to define targets on an intraday basis.
Do you mean the daily pivots and the S1, S2, R1, ......etc. derived from the pivot points?
  • #940
  • Jan 16, 2013 9:04am Jan 16, 2013 9:04am
YES : PP and its derivatives (S1,R1, etc...)

Quoting patguay
Do you mean the daily pivots and the S1, S2, R1, ......etc. derived from the pivot points?
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