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Lean Mean Money Making Machine

  • #41
  • Jan 28, 2013 3:03pm Jan 28, 2013 3:03pm
Hi Indrek,
That could be the solution to this problem, thanks!!!

Can I fix it the same way as when I need more history data for testing?
And do I need to do that for every pair seperately? Or is there a way of all in one-time (I'm lazy you know, lol)
IS it enough to do it only for thos pairs that show the same proble (EurGbp)


Regards,

Ben
  • #42
  • Jan 28, 2013 3:23pm Jan 28, 2013 3:23pm
Yes I forgot to mention that. When you load the 4 Hour chart template, you have to scroll all the way back until you see the very end of the Center of Gravity band. That way it gets us the full 3000 bars of data.
  • #43
  • Jan 28, 2013 3:33pm Jan 28, 2013 3:33pm
Quoting Indrek
Ashur,

How do you manage your open trades? Do you set them to breakeven at some Fibonacci level? Or do you trail somehow?
I leave the trades open until Take Profit hit or Stop loss hits. If I see a Sell position while I am already in a BUY signal that has not reached its take profit. This is an indication that there will be a retracement in the overall BUY trend. So I could either Take Profit there and enter the SELL until the next BUY comes along, or I could leave my initial BUY open throughout the minor SELL and continue collecting pips until Take Profit.
  • #44
  • Jan 28, 2013 3:40pm Jan 28, 2013 3:40pm
Hello Ashur (or anyone who can answer my Q),

I was wondering if this awesome strategy is applicable in lower tf's as well (H1-H4, or M15-H1)?
Maybe with other settings for Starc and/or Center of Gravity)?

I have a rather small account, so the huge sl's needed in the H4-D1 or a bit difficult for me.

Regards,

Ben
  • #45
  • Jan 28, 2013 3:58pm Jan 28, 2013 3:58pm
Quoting campco
Hello Ashur (or anyone who can answer my Q),

I was wondering if this awesome strategy is applicable in lower tf's as well (H1-H4, or M15-H1)?
Maybe with other settings for Starc and/or Center of Gravity)?

I have a rather small account, so the huge sl's needed in the H4-D1 or a bit difficult for me.

Regards,

Ben
You can trade the Oanda chart on any time frame but I always find that the Daily is the most accurate and least stressful because you do not have to constantly monitor it. I've played around with the COG chart on all kinds of settings and the one's saved on that template are the best in my opinion.

I've included a current 10 second chart example to see if it is accurate on time frames that low or not.
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy10sec.jpg Size: 307 KB
  • #46
  • Jan 28, 2013 4:12pm Jan 28, 2013 4:12pm
Turning point hit and we have our first SELL
Attached Image(s) (click to enlarge)
Click to Enlarge Name: usdjpy10sec1.jpg Size: 327 KB
Click to Enlarge Name: usdjpy10sec2.jpg Size: 334 KB
  • #47
  • Jan 28, 2013 4:32pm Jan 28, 2013 4:32pm
Take profit was hit. This system works well on the 10 Sec charts. You can have the best of both worlds with this system. I might even start trading the 10 second chart in the mean time while I wait for my Daily trades to kick in
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy10sec3.jpg Size: 362 KB
  • #48
  • Jan 28, 2013 4:49pm Jan 28, 2013 4:49pm
Turning point of last SELL was hit and now we found our next BUY signal
Attached Image(s) (click to enlarge)
Click to Enlarge Name: USDJPY.jpg Size: 367 KB
Click to Enlarge Name: USDJPY1.jpg Size: 354 KB
  • #49
  • Jan 28, 2013 5:15pm Jan 28, 2013 5:15pm
Stoploss hit, keep hunting BUY.
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYstoploss.jpg Size: 332 KB
  • #50
  • Jan 28, 2013 8:10pm Jan 28, 2013 8:10pm
Our 2nd BUY would have been a success. We are ready to SELL and there has been a SELL already triggered. I'll post that next
Attached Image (click to enlarge)
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  • #51
  • Jan 28, 2013 8:17pm Jan 28, 2013 8:17pm
We would have been stopped out, but we continue to hunt SELL
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY3.jpg Size: 385 KB
  • #52
  • Jan 28, 2013 8:20pm Jan 28, 2013 8:20pm
So far it would have been 37 pip profit and 7 pip loss. I think tomorrow I will trade this live, it seems like with consistency it would generate a lot of pips.
  • #53
  • Jan 28, 2013 8:45pm Jan 28, 2013 8:45pm
Our 2nd attempt at SELL would be triggered.
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY4.jpg Size: 365 KB
  • #54
  • Jan 28, 2013 10:52pm Jan 28, 2013 10:52pm
2nd SELL stop loss was hit, same with 3rd. 4th SELL was a successful trade.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: usdjpy6.jpg Size: 357 KB
  • #55
  • Jan 28, 2013 10:57pm Jan 28, 2013 10:57pm
That's it for tonight. With the possible trades from the 10 second chart tonight, we would have 50 pips GAINED and 16 pips LOSS. We will try the 10 second chart during busier market hours. Let us not forget that the main way of trading this chart is DAILY. We are only experimenting with the lower time frames to see if this system would work well for scalping as well.
  • #56
  • Edited Jan 29, 2013 12:51am Jan 28, 2013 11:58pm | Edited Jan 29, 2013 12:51am
Quoting ashur123
That's it for tonight. With the possible trades from the 10 second chart tonight, we would have 50 pips GAINED and 16 pips LOSS. We will try the 10 second chart during busier market hours. Let us not forget that the main way of trading this chart is DAILY. We are only experimenting with the lower time frames to see if this system would work well for scalping as well.
Keep up the good work Ashur. Enjoying the thread. Will try to have to setup soon myself so I can get some trades in!

Also, Ashur do you think it would help if you take the Ichimoku off of the charts are it's not used in your system and makes the chart harder to see? At least for me it does. If you find it helps for it to be there then ignore me and carry on!
Remember, Red. Hope is a good thing, maybe the best of things...
  • #57
  • Edited 4:17am Jan 29, 2013 4:07am | Edited 4:17am
Quoting ashur123
I leave the trades open until Take Profit hit or Stop loss hits.
Well, it is up to you, of course, and I do not know for how long and with what results have you traded it live, but I would still move my SL at some Fibonacci levels. In visual backtest, I noticed that sometimes a trade is open for months. If even not wanting to guarantee profit then we could at least cover the swaps

My first idea would be to move SL by 100 points of Fib. When we are at level 161.8, we move SL to 61.8, when at level 261.8, we set SL at 161.8.
  • #58
  • Jan 29, 2013 9:50am Jan 29, 2013 9:50am
Quoting ForexFury
Keep up the good work Ashur. Enjoying the thread. Will try to have to setup soon myself so I can get some trades in!

Also, Ashur do you think it would help if you take the Ichimoku off of the charts are it's not used in your system and makes the chart harder to see? At least for me it does. If you find it helps for it to be there then ignore me and carry on!
No worries my friend, I'll remove them on my next posts
  • #59
  • Jan 29, 2013 10:04am Jan 29, 2013 10:04am
Today, I've decided to experiment with the 5 MIN chart. I think 5 MIN chart would be good because I don't like to be on the computer CONSTANTLY monitoring. We have a 104 PIP TP and a 33 PIP SL.
Attached Image (click to enlarge)
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  • #60
  • Jan 29, 2013 1:06pm Jan 29, 2013 1:06pm
Ashur,

For your 5 min charts, it would be great if you could enumerate the steps required as to determining entry point, sl, tp. It seems that you are only lookinh looking at the one timeframe in this instance.

I use mt4, and have a starc bands indicator and would like to trial this with you on mt4.

Thanks
Pardy
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