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Multi time frame Simple MACD system

  • #101
  • Sep 5, 2013 7:21am Sep 5, 2013 7:21am
Summing up my last trades:
- GBYJPY: BE.
- EURUSD: Loss
- GBPUSD: currently at BE.

No more trade today for me as tomorrow is NFP day.
  • #102
  • Sep 5, 2013 9:15am Sep 5, 2013 9:15am
Quoting garfield75
{quote} The EUR chart you posted on post #78 has the MA in the right place. What did you change on your chart between then and now to show the MA on different place ? on daily chart, check you EMA setting it shoud be 200 and on 4 hours it should be 1200.
This is my settings of MA (daily templatefrom post No1)
Attached Image (click to enlarge)
Click to Enlarge Name: Bez tytułu.png Size: 61 KB
  • #103
  • Sep 5, 2013 9:42am Sep 5, 2013 9:42am
hello, thanks for sharing this strategy.
Can I close the trade early? let's say after i enter a trade, without hitting my sl or tp or half of tp so i could move my sl to be, anyone of the three macd turned into opposite color after any candle closed after my entry, could i close the trade early?
  • #104
  • Sep 5, 2013 5:13pm Sep 5, 2013 5:13pm
Quoting iwan73
{quote} This is my settings of MA (daily templatefrom post No1) {image}
Hi iwan73

You have it set to 200, I believe it should be set as 1200

1greyfox
Attached Image
  • #105
  • Sep 5, 2013 5:31pm Sep 5, 2013 5:31pm
Quoting sailorvt
hello, thanks for sharing this strategy. Can I close the trade early? let's say after i enter a trade, without hitting my sl or tp or half of tp so i could move my sl to be, anyone of the three macd turned into opposite color after any candle closed after my entry, could i close the trade early?

You can close the trade early if you want, but then you are reducing your R:R to less than 1:1. Which will impact your mindset when you take a string of losses in a row.
Trading is SIMPLE not EASY.
  • #106
  • Edited Sep 6, 2013 3:14am Sep 5, 2013 5:41pm | Edited Sep 6, 2013 3:14am
My Trades this weeks

Daily Chart

  1. AUDSGD - Closed - Loss
  2. GBPCHF - Closed - Profit
  3. GBPCAD - Closed - Loss
  4. GBPJPY - Active

4 Hours Chart

  1. AUDUSD - Closed - Breakeven
  2. GBPUSD - Closed - Breakeven
  3. EURUSD - Closed - Breakeven
  4. EURCAD - Closed - Profit
  5. EURNZD x 2 - Closed - Profit
  6. NZDJPY - Closed - Profit
  7. NZDUSD - Active
  8. CHFJPY - Active
  9. EURCAD - Active


Missed quite a few trades yesterday due to work commitment. Not trading today becuase of NFP.

Trading is SIMPLE not EASY.
  • #107
  • Edited 1:22am Sep 6, 2013 1:11am | Edited 1:22am
Hi garfield, I love this system but my backtests are not so good....
I've noticed that my MACD is different than your, and I think is due to the daily closing time of my broker (5pm New York).
This is the 2013 backtest of GBP/USD

7 Losses
5 Break Even
4 Wins

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD.png Size: 119 KB
  • #108
  • Sep 6, 2013 2:26am Sep 6, 2013 2:26am
Quoting lucariga
Hi garfield, I love this system but my backtests are not so good.... I've noticed that my MACD is different than your, and I think is due to the daily closing time of my broker (5pm New York). This is the 2013 backtest of GBP/USD 7 Losses 5 Break Even 4 Wins {image}

My backtest of GBPUSD shows 5 winners, 3 breakeven and 3 loser.
Maybe you should download Axitrader demo MT4 platform and use their platfrom to confirm trade setups and then put them through your broker.
Trading is SIMPLE not EASY.
  • #109
  • Sep 6, 2013 3:52am Sep 6, 2013 3:52am
Quoting 1greyfox
{quote} Hi iwan73 You have it set to 200, I believe it should be set as 1200 1greyfox {image}
You are wrong. For D1 timeframe MA =200. Look at post No. 92
  • #110
  • Sep 6, 2013 3:56am Sep 6, 2013 3:56am
Quoting iwan73
{quote} You are wrong. For D1 timeframe MA =200. Look at post No. 92
Iwan73,
What sez first page..? "on 4 hours chart, the MA is mapped to daily 200 MA position." It means 200 on daily, 1200 on H4.. So looks like you are right!
Powodzenia
JacekPreserve Precious Capital
  • #111
  • Edited 6:20am Sep 6, 2013 6:08am | Edited 6:20am
Quoting Jackub
{quote} Iwan73, What sez first page..? "on 4 hours chart, the MA is mapped to daily 200 MA position." It means 200 on daily, 1200 on H4.. So looks like you are right! Powodzenia
Hi iwan73 and Jackub

I guess I should have clarified why it is 1200 instead of 200. Iwan, your chart shows a setting of 200, basic math says if the daily is a 200 then in order for the 4H to match the daily it has to be set at 1200 on the 4H chart.

I will go back into my corner now and just observe instead of trying to help.

I apologize for interfering.
  • #112
  • Sep 6, 2013 8:05am Sep 6, 2013 8:05am
Hi garfield75.

Thank you for sharing your method, I believe it has a good chance of being able to help traders earn an income for the simplicity of it.

I wish you the best with it.

I took 2 trades using it and here are the charts and the portion of the trade statement that is relevant.

1greyfox
Attached Image(s) (click to enlarge)
Click to Enlarge Name: AUDCHF 20130906 0833 M240.gif Size: 28 KB
Click to Enlarge Name: CHFJPY 20130906 0833 M240.gif Size: 28 KB
Click to Enlarge Name: trade results.gif Size: 6 KB
  • #113
  • Sep 6, 2013 8:49am Sep 6, 2013 8:49am
Quoting garfield75
{quote} My backtest of GBPUSD shows 5 winners, 3 breakeven and 3 loser. Maybe you should download Axitrader demo MT4 platform and use their platfrom to confirm trade setups and then put them through your broker.
Is there someone who can backtest daily 2013 EURUSD and GBPUSD?
My broker seems to produce more loosing trades than garfield's one, but I don't know why.... (I use FXCM)
  • #114
  • Sep 6, 2013 11:01am Sep 6, 2013 11:01am
Quoting lucariga
{quote} Is there someone who can backtest daily 2013 EURUSD and GBPUSD? My broker seems to produce more loosing trades than garfield's one, but I don't know why.... (I use FXCM)
Hi lucaringa.

At first I wasn't going to reply because of previous posters comments, I chose to reply to you because you seem genuinely interested in seeing someone elses view.

I compared your chart from post #107 with my chart and these were my findings. I use FXDD because they have a candle close that coincides with the NY close, they also don't have that little useless Sunday candle which can mess with your moving averages on the daily and 4H charts.

This is what I came up with.

First 2 trades, I wouldn't have taken because price was hitting against a triple top(scroll to the left on your chart). If I did take them, they were both losers.

Third trade: Breakeven:

Fourth trade: Winner for me. Looking at you chart I think you moved it to Breakeven to quickly because price didn't move 50% to your target before you wnet to a breakeven setting. I think that is the basic rule of garfield's method, but don't hold me to it or else someone will accuse me of being wrong.

Fifth trade: Winner I wouldn't have taken because I would still be in trade 4. I think you're 5th trade should have been marked as a winner on your chart and not as a breakeven.

Sixth trade: Loser

Seventh trade: Breakeven

Eighth trade: Loser

Ninth trade: Winner

Tenth trade: Winner

Eleventh trade: Loser I don't think I would have taken this trade because trade 10 closed in profit during this candle.

Twelfth trade: Winner

Thirteenth trade: Winner

Fourteenth trade: Loser

Fifteenth trade: Loser I would have hesitated on this trade because the setup candle was large and the take profit target would have been above the previous high. Not enough headroom for this to work out as a 1:1

Sixteenth trade: Breakeven

Recap:
7 losers
3 Breakeven
6 Winners

In my opinion, 3 of the losers could have been avoided by looking a little to the left on the chart to see where prior tops are located. If the profit target is located past the prior top or bottom I would reconsider taking the trade. I may not have noticed any posts by Garfield saying not to trade these setups, so it is based solely on my analysis and not the method outlined in this thread.

1greyfox
  • #115
  • Sep 6, 2013 4:10pm Sep 6, 2013 4:10pm
Quoting lucariga
{quote} Is there someone who can backtest daily 2013 EURUSD and GBPUSD? My broker seems to produce more loosing trades than garfield's one, but I don't know why.... (I use FXCM)
Hi lucariga

I had some time available so I marked up the 2013 Daily EUR/USD chart like you asked. I didn't look for re-entries. I did mark where I either wouldn't take the trade or it was a questionable entry.

I hope this is helpful to you.

1greyfox
Attached Image (click to enlarge)
Click to Enlarge Name: 3MACD.gif Size: 45 KB
  • #116
  • Sep 6, 2013 4:54pm Sep 6, 2013 4:54pm
Hi garfield75.

I took a look at your 1 hour and 30 minutes templates and have these questions and observances.

I see both templates are using a 1200 which is the same as what is on the 4 hour template. Shouldn't the ma's be set as follows to conform to the daily chart 200?

1 hour: 200 x 24 = 4800
30 minute: 200 x 48 = 9600

Also, on the 30 minute chart template the longest term MACD settings appear to be incorrect. I think it should be 576,1248,432 instead of what it is currently on your template.

I updated my templates using a MTF moving average to show the daily ma location because MT4 appear not to like a setting of 4800 or 9600.
I would like to send the indicator and updated templates to you but you don't have your PM set up. Please pm me if you are interested in receiving the items.

1greyfox
  • #117
  • Sep 6, 2013 6:57pm Sep 6, 2013 6:57pm
Quoting 1greyfox
Hi garfield75. I took a look at your 1 hour and 30 minutes templates and have these questions and observances. I see both templates are using a 1200 which is the same as what is on the 4 hour template. Shouldn't the ma's be set as follows to conform to the daily chart 200? 1 hour: 200 x 24 = 4800 30 minute: 200 x 48 = 9600 Also, on the 30 minute chart template the longest term MACD settings appear to be incorrect. I think it should be 576,1248,432 instead of what it is currently on your template. I updated my templates using a MTF moving average...
Hi Greyfox,

Nice trades on CHFJPY & AUDCHF. Lower TF don't have MA, as MA doesn't calculate correctly with setting of 4800 and 9600.
Will have a look at the templates again to see what's incorrect.
Cheers
Trading is SIMPLE not EASY.
  • #118
  • Sep 6, 2013 8:47pm Sep 6, 2013 8:47pm
Hi garfield75

Thanks for the compliment, those were the first trades I took using your method and was happy with the results.

The reason I brought up the ma's on the lower time frames is because when I downloaded the templates from the first post and loaded them up, they had a 1200 ma on each template, therefore, I thought that the ma's were meant to be used and they just weren't set to the correct settings.

I also mentioned that there are mtf ma indicators that will add the daily ma on the lower time frame charts, but since they aren't required no sense in going any further on that topic.

Have a great weekend.

1greyfox
  • #119
  • Sep 7, 2013 1:30am Sep 7, 2013 1:30am
There was a setting error on 30 min template.
Thanks to 1GreyFox for pointing it out, I have updated correct 30 min template now.

If you are using it please download the new template.

I was not going to trade on Friday due to NFP, but gave into the template to take NZDUSD long trade, EURCAD Short & CHFJPY Short.
NZDUSD and EURCAD both closed in profit around NFP new release.

CHFJPY hit my profit target, but didn't close the trade, I am assuming this is due to Wider spead during NFP. Anyway it at breakeven so no worries on that trade.

In my opinion most profitable timeframe for this system is 4 hours chart. ....

Have a great weekend !!!
Trading is SIMPLE not EASY.
  • #120
  • Sep 7, 2013 2:43am Sep 7, 2013 2:43am
Quoting 1greyfox
{quote} Hi iwan73 and Jackub I guess I should have clarified why it is 1200 instead of 200. Iwan, your chart shows a setting of 200, basic math says if the daily is a 200 then in order for the 4H to match the daily it has to be set at 1200 on the 4H chart. I will go back into my corner now and just observe instead of trying to help. I apologize for interfering.
hi greyfox. Your help is welcomed. My chart is D1 and that is a reason why MA is set to 200.
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