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Multi time frame Simple MACD system

  • #601
  • Edited 9:06am Oct 1, 2013 8:50am | Edited 9:06am
Quoting orid
{quote} I have been doing just what you suggested , thanks , but itchy fingers tonight ,very bad I know , I bailed out of the au/ Us - 2 pip in this one now , in trouble lol. early days. Orid {image}

I am glad you got out of the AUD/USD trade. I think it was the right move.

Now..... What's this 30 minute chart trading about?????

You have the new account money itch. Please, Please, Please, scratch it on demo.

You are the 1 hour chart king and you are doing well with it, why go to a choppier chart instead of enjoying the smoother ride of the 1 hour?

1greyfox
  • #602
  • Oct 1, 2013 8:54am Oct 1, 2013 8:54am
Quoting Buitres
my first real test on eurusd {image}
Hi Buitres.

If that upper red horizontal line was your profit target, congrats on the winner!

I hope you get many more like it.

1greyfox
  • #603
  • Oct 1, 2013 8:56am Oct 1, 2013 8:56am
Quoting 1greyfox
{quote} Hi Buitres. If that upper red horizontal line was your profit target, congrats on the winner! I hope you get many more like it. 1greyfox

oh yes !!!
  • #604
  • Oct 1, 2013 9:08am Oct 1, 2013 9:08am
Quoting 1greyfox
{quote} I am glad you got out of the AUD/USD trade. I think it was the right move. Now..... What's this 30 minute chart trading about????? You have the new account money itch. Please, Please, Please, scratch it on demo. You are the 1 hour chart king and you are doing well with it, why go to a choppier chart instead of enjoying the smoother ride of the 1 hour? 1greyfox
Whoops sorry it was a 1 hour trade ,wrong time chart , ive gone to pieces already.lol
  • #605
  • Oct 1, 2013 9:15am Oct 1, 2013 9:15am
Quoting orid
{quote} Whoops sorry it was a 1 hour trade ,wrong time chart , ive gone to pieces already.lol
You're giving me more gray hairs than I need. I am going to have to find a new 1greyfox pic soon.

Glad you haven't moved to that lower noisier time frame for trading.

1greyfox

I sent you a PM
  • #606
  • Oct 1, 2013 9:15am Oct 1, 2013 9:15am
Quoting orid
{quote} Whoops sorry it was a 1 hour trade ,wrong time chart , ive gone to pieces already.lol
sorry about that here is the correct LOSER boo hoo
Orid
Attached Image (click to enlarge)
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  • #607
  • Oct 1, 2013 9:19am Oct 1, 2013 9:19am
Quoting orid
{quote} sorry about that here is the correct LOSER boo hoo Orid{image}
Hi orid.

Thanks for the updated chart. Sorry for the loss. Some days are better than others and today just isn't one of them.

1greyfox
  • #608
  • Oct 1, 2013 10:36am Oct 1, 2013 10:36am
Quoting 1greyfox
{quote} Hi orid. Forgive me for offering my analysis on your AUD/USD trade, especially since it differs from the garfield75 reasons for taking it. The chart and analysis is based on my own thoughts but may provide useful information to you for future trades when you see something similar. On my chart that I posted the little red candle(current), just closed(9AM NY time) in real time and it looks like it came very close to your stop, I hope it didn't hit it and price moves back up now. 1greyfox {image}
Yes thanks for that greyfox , I shouldn't have taken that trade I didn't check the adr , mind you it should have been obvious that was a large candle,
same with the trade I lost on it didn't exeed the adr but was a big candle , might srteer clear of candles over 40-45 pips in future, and I must keep an eye on that adr thanks again,
all the best Orid
  • #609
  • Oct 1, 2013 11:00am Oct 1, 2013 11:00am
Quoting orid
{quote} Yes thanks for that greyfox , I shouldn't have taken that trade I didn't check the adr , mind you it should have been obvious that was a large candle, same with the trade I lost on it didn't exeed the adr but was a big candle , might srteer clear of candles over 40-45 pips in future, and I must keep an eye on that adr thanks again, all the best Orid
Hi orid.

From what I am seeing so far, the ADR has the most impact when trading on the 4H chart. Smaller time frames don't seem to be affected by it as much. So when trading the 4H it might be good to check if the signal candle or the one prior to the signal candle have already moved further than the ADR.

Maybe those 40-50 pips candles on a 1H chart are to big to consider trading. Next time one shows up, just visually watch how it would have played out if you did take the trade.

We are all still learning this method in one way or another.

1greyfox
  • #610
  • Oct 1, 2013 3:00pm Oct 1, 2013 3:00pm
Hey guys, what you think about the account linked to this thread? -10% witout ATR and -8% wit ATR at the moment.....
  • #611
  • Oct 1, 2013 4:30pm Oct 1, 2013 4:30pm
Quoting lucariga
Hey guys, what you think about the account linked to this thread? -10% witout ATR and -8% wit ATR at the moment.....
Hi lucariga

Been a while since you visited, hope all is well. Are you still backtesting it? I haven't seen any charts posted by you lately.

Personally, it is disappointing to see that the EA's are in negative territory as I hoped it would be of benefit to folks who didn't have much time available to them for chart watching. Maybe some trade management variables could be added to the EA which may improve it, but since I don't do programming I can't try them out.

For me, it really doesn't matter because I wait til a signal appears on the 4 hour chart with the 3MACD indicator, then I load up the regular chart showing the three MACD's and then decide if I want to risk it or not. And then there is orid who has been doing well on the 1 hour charts by waiting for a signal to appear and then deciding whether to jump or not.

Only time will tell on the evolution of the EA, but for those who trade manually, this method can work if you have the patience to wait for the right conditions.

Good luck to you.

1greyfox
  • #612
  • Oct 2, 2013 1:23am Oct 2, 2013 1:23am
Quoting 1greyfox
{quote} Hi lucariga Been a while since you visited, hope all is well. Are you still backtesting it? I haven't seen any charts posted by you lately. Personally, it is disappointing to see that the EA's are in negative territory as I hoped it would be of benefit to folks who didn't have much time available to them for chart watching. Maybe some trade management variables could be added to the EA which may improve it, but since I don't do programming I can't try them out. For me, it really doesn't matter because I wait til a signal appears on the 4...
Yeah. I've seen Orid results and I think we should implement you "discretion" into the EA.
I've backtested the EA without ATR on a daily basis for all the pairs (2010 2011 2012 2013) and the results are not bad, but I think we need to add some "filters".

Unfortunately I can't program because the EA posted hasn't the source file attached...

Maybe you and Orid, that are ther most profitable around here, could explain your "discretion on entries" in details so someone can implement it into the EA....

Regards
  • #613
  • Oct 2, 2013 6:39am Oct 2, 2013 6:39am
Hi all you good people,
WELL, I have had a very very bad day ,no make that a couple of days , Live trading even at 10 cebts a pip has destroyed my confidence,
nothing wrong with the system.

If I had traded as per normal as I have been ,today I would have done ok, probly 50-60 pips,

BUT I got nowhere because of uncertainty etc.,

So from now I promise myself, Garfield and all you nice people whom Ive been impressing with my trades ,that I will trade this live account exact same as the demo .
You all deserve more from me ,after the way ive been trading,

Todays trades , 4 trades -2.5 pips crap. Cant believe some of the things I did !

Tomorrow I will be going fishing weather permitting.
Regards Orid
  • #614
  • Edited 9:09am Oct 2, 2013 7:48am | Edited 9:09am
Quoting orid
Hi all you good people, WELL, I have had a very very bad day ,no make that a couple of days , Live trading even at 10 cebts a pip has destroyed my confidence, nothing wrong with the system. If I had traded as per normal as I have been ,today I would have done ok, probly 50-60 pips, BUT I got nowhere because of uncertainty etc., So from now I promise myself, Garfield and all you nice people whom Ive been impressing with my trades ,that I will trade this live account exact same as the demo . You all deserve more from me ,after the way ive been trading,...
Hello my friend.

I am sorry to hear that things didn't work out well today or this week.

When it is NFP week, I become very cautious about trading. If this had been a normal week(no U.S. government shutdown) I would stop trading for the week by 12:00pm NY time today(October 2, 2013) and NOT start again til the Tuesday after NFP. Since the U.S. is shutdown I didn't take any live trades this week.

I do have some demo trades running because I wanted to see how the EA performs by itself, but nothing live. From what see we should have all taken this entire week off to go fishing.

I would like to suggest to you that after your relaxing day fishing and you come back to chart watching(trading) to do it on the demo account until the current turmoil subsides and the market starts moving in better fashion.

The folks on this forum 'deserve' nothing from you. What is important is what you deserve for yourself and family. You, me, and others have taken on this trading career to improve our lives and those we care about. If the readers of this forum can gain something useful from what is posted here, that is wonderful. Do what is right for you and not worry about how others may perceive you in this thread.

Trade on demo til you regain the confidence you had before going live, and soon you will be ripping the market to shreds again.

If you can, go fishing for the next 4 days and not look at charts again until Monday or Tuesday.

1greyfox

P.S. A friend sent me the attached picture a few years ago when he learned that I enjoyed fishing and wanted a boat. What a character he is.
Attached Image (click to enlarge)
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  • #615
  • Edited 9:26am Oct 2, 2013 8:37am | Edited 9:26am
Quoting lucariga
{quote} Yeah. I've seen Orid results and I think we should implement you "discretion" into the EA. I've backtested the EA without ATR on a daily basis for all the pairs (2010 2011 2012 2013) and the results are not bad, but I think we need to add some "filters". Unfortunately I can't program because the EA posted hasn't the source file attached... Maybe you and Orid, that are ther most profitable around here, could explain your "discretion on entries" in details so someone can implement it into the EA.... Regards
Good morning lucariga.

I am attaching 2 charts of the GBP/CHF trade setup which showed up yesterday on the linked explorer at the beginning of this thread.
To me discretion and filters are based more on the human factor of analysis when looking at a chart. When the EA or the MTF_MACD_Signal indicator lets me know that a trade setup has occurred, I don't just jump in the trade.

The first chart shows the valid entry based solely on the signal generated.
The second chart shows what I do to either validate the trade or discard it.

As I mentioned in previous posts, I do feel the EA has a purpose to alert to a 'possible' trade setup and maybe manage the trade if we enter it, but I still feel there is a need to manually analyze the chart before we risk money.

I apologize for the amount of times I mention some sort of a disclaimer to my posts and charts, I do this to clarify my position on how I look at charts before placing a trade.

1greyfox
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2013-10-02_GBPCHF 4H EA trade.gif Size: 40 KB
Click to Enlarge Name: 2013-10-02_GBPCHF 4H analysis.gif Size: 65 KB
  • #616
  • Oct 2, 2013 9:14am Oct 2, 2013 9:14am
Hi everyone.

Here is a demo trade I took on the EUR/CAD 4 hour chart. Some of you probably got out a day or so ago, but because I am stubborn and use different trade management rules instead of those outlined in this thread trades may take longer to finish.

Thankfully, this one did finish as a profitable trade(+73.5 pips) in demo dollars.

1greyfox
Attached Image (click to enlarge)
Click to Enlarge Name: 2013-10-02_EURCAD 4H.gif Size: 56 KB
  • #617
  • Oct 2, 2013 9:49pm Oct 2, 2013 9:49pm
Hi everyone.

Here is another trade on the EUR/GBP 4 hour chart.

Based on the trading rules for this method you would have netted a BE+5 pips. Since I use other trading rules, I had a loss of 33.2 pips.

The dotted line on the chart is a 200ema which I am experimenting with but is not part of the method.

Life is a journey and this is just another step on the road.

1greyfox
Attached Image (click to enlarge)
Click to Enlarge Name: 2013-10-02_EURGBP 4H.gif Size: 43 KB
  • #618
  • Oct 3, 2013 2:36am Oct 3, 2013 2:36am
Quoting 1greyfox
Hi everyone. Here is another trade on the EUR/GBP 4 hour chart. Based on the trading rules for this method you would have netted a BE+5 pips. Since I use other trading rules, I had a loss of 33.2 pips. The dotted line on the chart is a 200ema which I am experimenting with but is not part of the method. Life is a journey and this is just another step on the road. 1greyfox {image}
Good charts and details greyfox , I think maybe you should stick to the 1 : 1 profit take.
Ive spent a few hours backtesting and the results are very impressive They are not absolutely accurate by any means .
Don,t know whether I should put them up here I just did a visual backtest on a few pairs , for sept and july 1hr and 4 hr
as I said they wouldn't be spot on but gives me great confidence in this system.
For any one that's got a few hours to spend going goggle eyed I think you would be surprised.
Regards Orid
  • #619
  • Edited 2:53am Oct 3, 2013 2:42am | Edited 2:53am
Quoting orid
{quote} Good charts and details greyfox , I think maybe you should stick to the 1 : 1 profit take. Ive spent a few hours backtesting and the results are very impressive They are not absolutely accurate by any means . Don,t know whether I should put them up here I just did a visual backtest on a few pairs , for sept and july 1hr and 4 hr as I said they wouldn't be spot on but gives me great confidence in this system. For any one that's got a few hours to spend going goggle eyed I think you would be surprised. Regards Orid

Please post your result of backtesting.

I don't trade EURGBP, USDSGD and AUDSGD pairs..

Here is the outcome of EURCAD trade on 4 hours
Attached Image (click to enlarge)
Click to Enlarge Name: EURCAD-30-Sept-2013.JPG Size: 152 KB
Trading is SIMPLE not EASY.
  • #620
  • Oct 3, 2013 4:34am Oct 3, 2013 4:34am
Quoting garfield75
{quote} Please post your result of backtesting. I don't trade EURGBP, USDSGD and AUDSGD pairs.. Here is the outcome of EURCAD trade on 4 hours {image}
Nice trade there Garfield.
Attached Image (click to enlarge)
Click to Enlarge Name: Untitled.png Size: 179 KB


didn't take into account first 2-3 candles on 1 hour and 1st and last on 4 hour
And no carry over trades to next day
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