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Symphonie Trader System

  • #16,941
  • Feb 18, 2013 3:00pm Feb 18, 2013 3:00pm
Quoting fugly
2nd trade hit sl .... 2 losses today
fugly,

Do not feel bad I also have loss trade today. However, you need to re read the section on trade management in post#1 because you have clear exit signals to prevent you from loss trade of 30 pips. However, if you choose to just let the 30 pip stoploss hit that is your decision. As I suspected it is typical indecision Monday and I am sure the USA markt closed today did not help.

Remember Symphonie is telling you the edges of the ranges and it is not going to be right 100% of the time. It is also important to learn to recognize markt patterns as they will help you in edge identification and Symphonie will show you the trigger areas to catch the next trend movement.

So, for me today using Symphonie 5M charts (2) no execute, (1) +1 stoploss, (1) -7 pip loss trade because trendline change.

When markts range Symphonie will show you the edges of the range and if you wish to play the edges then revers your signals to play the ranges. I do not do that because once markt ranges the reward is many greater than the 2 to 5 pip wins in a range trade. But that is just me...

So, for today I am negative (-) pips for the day...but I intend to meet my +50 pips for the week and I have 4 more days....

Best of Luck,

Evaluator.:nerd:

P.S. see the wedge/triangle pattern forming?? I have two dash trendlines that show it.
Attached Image (click to enlarge)
Click to Enlarge Name: Symphonie Screenshot 538.jpg Size: 156 KB
  • #16,942
  • Feb 18, 2013 3:06pm Feb 18, 2013 3:06pm
Here is the updated version Symphonie Trader system 4.4h Custom5

- added is an option "AlarmOnCandleClose" if set to TRUE it will send the notification on candle close. If set to FALSE it will send notification on CandleOpen (like all version did until now) with this even if last bar changes you wont get notification until confirmation but be advised that this way you could be little late to the party

but please test it out and remember dont trade on LIVE accounts any new versions without you confirming it works as it should
Attached File(s)
File Type: ex4 Symphonie_Matrix_Indikator_v4.4h_custom5.ex4   26 KB | 1,536 downloads
  • #16,943
  • Feb 18, 2013 3:40pm Feb 18, 2013 3:40pm
Quoting Dworf
Here is the updated version Symphonie Trader system 4.4h Custom5

- added is an option "AlarmOnCandleClose" if set to TRUE it will send the notification on candle close. If set to FALSE it will send notification on CandleOpen (like all version did until now) with this even if last bar changes you wont get notification until confirmation but be advised that this way you could be little late to the party

but please test it out and remember dont trade on LIVE accounts any new versions without you confirming it works as it should
Many thanks!!!!
  • #16,944
  • Feb 18, 2013 9:02pm Feb 18, 2013 9:02pm
Hi Evaluator,
First of all thanks for the system, looks promising. I am studying it now. But I found some problems with version 4.4:
1) When you start MT4 the indicator doen't appear until next bar open or until you edit properties which forces a re-initialize.
2) For M5, with Extreme settings 0.00057 and 0.05, the Extreme indicator is unchanged (blue) for more than one day (EURUSD).
3) What's more intriguing is that I am almost sure it was red yesterday at the same hour that appears as blue now (restarted MT4 meanwhile).
I am using settings from your settings matrix and the rest of properties is default
  • #16,945
  • Feb 18, 2013 10:58pm Feb 18, 2013 10:58pm
Quoting Evaluator
Sunny_man,

All markt patterns have two possible outcomes up or down. Markt patterns just show decision level where the markt usually make a trend move. So, if not up then it will go down. The Key is to understand the patterns and try to anticipate the possible implications of the markt move. Symphonie should be there to tell you when or when not to enter the markt.

Evaluator.:nerd:
Thank You, Evaluator. Everything is clear. I'm going to practice and gain experience. And thank you all for your experience. I am with you.
I expect the growth of EURUSD.
  • #16,946
  • Feb 19, 2013 12:41am Feb 19, 2013 12:41am
Thanks to both Evaluator & Yegor, i will pay more attention to price patterns, early exit signals and price action like consolidation zones and s/r lines
  • #16,947
  • Feb 19, 2013 1:23am Feb 19, 2013 1:23am
1st trade of the day long but sl hit at -15 waiting for next signal
Attached Image (click to enlarge)
Click to Enlarge Name: sym.gif Size: 24 KB
  • #16,948
  • Edited 2:29am Feb 19, 2013 2:11am | Edited 2:29am
Quoting fugly
1st trade of the day long but sl hit at -15 waiting for next signal
fugly,

It is important that you also make sure you are not trading before major new events that can effect price aktion. The reasons for this last major drop was due to very bad French prduction data.(my buy order was stopped out +1 pip on that whipsaw)

Also in 2 hours will come the German ZEW data that will also cause a reaction in the markt.

For me I do not trade 1 hour before the major news event as volitility usually become less and therefore the price aktion moves are irrational to the extreme. As the news event occurs I will take the first completed signal bar after the event. Never before the news event always after unless I am in a trade that is protected.

Evalautor.:nerd:
  • #16,949
  • Edited 2:32am Feb 19, 2013 2:21am | Edited 2:32am
The larger overview.

Here is an interesting overview as we look at the price aktion for the EURUSD. One can clearly see that the EURUSD is in a major uptrend move that started in Juli 2012 from 1.20 where price aktion has reacha high of 1.37 before a pullback that has remained inside the upchannel.

Current price aktion is now reach the near bottom of the upchannel and created a small down channel from 01 Jan 2013 until now and price aktion appear to be reaching a decision level whether to remain inside the upchannel for another move to the top (est. 1.41) or break the upchannel looking to make a new direktional move where bottom channel support area is 1.31900 - 1.3200 area.

Immediate decision levels on the 1 hour chart show that the EURUSD is in a downchannel from the 1.37 high and decision levels are 1.34100 (top of down channel) (i.e. resisitance) and 1.3300 support area (round number psycological support and minor upchannel support bottom).

SO what does this mean???

It means look for more range markt price aktion until these level are broken and the markt finally decide on a trending direktion that can be very profitable if one is patient to look, watch, and wait.

Remember, the best trade sometimes is NO TRADE at all. Patience is key in forex trading and knowing when and where to take your risks are very important.

Best of Luck,

Evalautor.:nerd:
Attached Image (click to enlarge)
Click to Enlarge Name: Symphonie Screenshot 539.jpg Size: 111 KB
  • #16,950
  • Feb 19, 2013 2:25am Feb 19, 2013 2:25am
This morning trades.... EURUSD

1 Buy trade...stopped out +1 pip
1 (pending sell trade) no execute and reversal say to close so closed.

EURUSD stuck in ranging for day 2.....more markt frustration.

Evaluator.:nerd:
Attached Image (click to enlarge)
Click to Enlarge Name: Symphonie Screenshot 540.jpg Size: 109 KB
  • #16,951
  • Feb 19, 2013 2:56am Feb 19, 2013 2:56am
Quoting fugly
2nd trade hit sl .... 2 losses today

Fugly,

On closer look at your chart I only see 1 loss impact order. The others should have +1 pip stoploss hit.

Evaluator.:nerd:
Attached Image (click to enlarge)
Click to Enlarge Name: Symphonie Screenshot 541.jpg Size: 141 KB
  • #16,952
  • Feb 19, 2013 3:18am Feb 19, 2013 3:18am
Current chart .... 1 loss trade, 1 trade short not triggered and deleted, current trade is open pending order for short.

Will deleted it now because as Evaluator mentioned better not to trade 1 hr before red flag news .... German ZEW economic sentiment which is comming in 45 mins.
Attached Image (click to enlarge)
Click to Enlarge Name: sym.gif Size: 25 KB
  • #16,953
  • Feb 19, 2013 3:20am Feb 19, 2013 3:20am
Evaluator thx for the tip on news, better not trade an hour before major news event coz of reduced volatility and whipsaws but can take the first signal after a major news event ... will write that down in my rule book.
  • #16,954
  • Feb 19, 2013 3:24am Feb 19, 2013 3:24am
Quoting fugly
Current chart .... 1 loss trade, 1 trade short not triggered and deleted, current trade is open pending order for short.

Will deleted it now because as Evaluator mentioned better not to trade 1 hr before red flag news .... German ZEW economic sentiment which is comming in 45 mins.
Evaluator you are correct ... what happened was first trade was a loss, second trade i did not take because there was a big blue candle before the signal and generally price retraces after a big candle so i didnt take the trade, third trade I should have been able to move my sl to BE+1 but i think my entry was late so price didnt reach +10 pips ..... it was my fault because of bad/late entry ..... serves me right won't happen again next time

thank you for your pointers evaluator, it really helps me improve not only me but I'm sure everyone following this thread
  • #16,955
  • Feb 19, 2013 5:15am Feb 19, 2013 5:15am
As I said in my posts 16,952 and 16953 it appears (as I feared) the EURUSD is stuck in whipsaw indecision as I was hoping that the ZEW survey would have prove a catalyst to move markt price aktion. It failed. Now one must look to potential other catalysts to move the markt out of this small up and down whipsaw indecision. If you are a range trader then this is the markt for you to get your 10 pip orders...but beware because the EURUSD has been in this tight 40 pip range since 14 Feb it should be moving toward the end time of this crap whipsaw markt and the trending should be happen soon.

For me, I am looking for the trend.... and make some real pips!

Evaluator.:nerd:

P.S. The dash lines are the triangle tops and bottoms look for resistance and support at those levels for intermediate range trades. Again, beware because if markt trends you will be on the wrong side of the trade.
Attached Image (click to enlarge)
Click to Enlarge Name: Symphonie Screenshot 542.jpg Size: 132 KB
  • #16,956
  • Feb 19, 2013 5:49am Feb 19, 2013 5:49am
would it make sense to trail pending order on each next full rack of bars in same color?

like the sample on the attached pic? did anyone try that? need to go backtest i guess

Dworf
Attached Image (click to enlarge)
Click to Enlarge Name: symphonie_example.png Size: 16 KB
  • #16,957
  • Feb 19, 2013 6:01am Feb 19, 2013 6:01am
Quoting Dworf
would it make sense to trail pending order on each next full rack of bars in same color?

like the sample on the attached pic? did anyone try that? need to go backtest i guess

Dworf
Dworf,

I hope that i understood your question right
and you can find the answer in post 16,587
  • #16,958
  • Feb 19, 2013 6:13am Feb 19, 2013 6:13am
Quoting Yegor
Dworf,

I hope that i understood your question right
and you can find the answer in post 16,587
exactly what i was looking for TY
  • #16,959
  • Feb 19, 2013 3:56pm Feb 19, 2013 3:56pm
Hi Evaluator,

May I ask how you have been going with the symphonie in 2012, I remember you quoting its been tough ever since the first week of the year

Thanks a million Evaluator and its a great system




Quoting Evaluator
fugly,

It is important that you also make sure you are not trading before major new events that can effect price aktion. The reasons for this last major drop was due to very bad French prduction data.(my buy order was stopped out +1 pip on that whipsaw)

Also in 2 hours will come the German ZEW data that will also cause a reaction in the markt.

For me I do not trade 1 hour before the major news event as volitility usually become less and therefore the price aktion moves are irrational to the extreme. As the news event occurs I will...
  • #16,960
  • Feb 19, 2013 11:33pm Feb 19, 2013 11:33pm
despite the upward bias just following the rules of Symphonie we have a short signal so placed pending sell stop
Attached Image (click to enlarge)
Click to Enlarge Name: sym.gif Size: 23 KB
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