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Magic-Breakout (optimised) with PPA - a new beginning

  • #301
  • Oct 8, 2013 11:41am Oct 8, 2013 11:41am
Hi everyone

Well I set up our revised FXPT ea on AUDCHF for a nice few pips last night.

Looks like a similar set up later as we're still looking for buys as price action is still above the 1 hour DASR.


Looking at our "price_bounce_off_ema" strategy, something I didn't mention yet is that is better (and easier) to look for bounces off the 1 hour vegas tunnel ema on the HIGHER TIMEFRAMES (30 min / 1 hour / 4 hour)
Nice examples - GBPNZD last few days and GBPCHF today. Lovely bounces off the 1 hour DASR (see attached charts). A VERY IMPORTANT thing to remember is that if price action bounces once off our DASR centres, it will often bounce once or twice more off the same EMA (sometimes even a few times) These bounces yield hundreds of pips!!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpnzdh1.png Size: 54 KB
Click to Enlarge Name: gbpchfh1.png Size: 55 KB
  • #302
  • Oct 8, 2013 11:52am Oct 8, 2013 11:52am
Guys, if you don't want to trade the bounce with our "price_bounce_off_ema" ea, but would prefer to trade it manually (remember that you need watch the charts carefully!) then what you can do is set up your MT4 platform to send an email to your smartphone when price action touches the 30min or 1 hour or 4 hr tunnel ema depending on the chart situation and what TUNNEL EMA IS IN FAVOUR!

I have attached the indi (again!) that you need to set up on your template and of course you need to set up your MT4 platform to send emails on alerts.


rgds

Jerry
Attached Image (click to enlarge)
Click to Enlarge Name: ma touch alert.gif Size: 60 KB
Attached File(s)
File Type: mq4 ma touch.mq4   4 KB | 382 downloads
  • #303
  • Oct 9, 2013 3:43pm Oct 9, 2013 3:43pm
Hi everyone

Well a lot of pips today ONLY because I had our "price_bounce_off_ma" ea set up and got up late this morning to see 140 pips in the bag - easy game isn't it? I wish!!

During the night we had that other bounce off the GBPNZD ema tunnel I predicted and told everyone to set up for except myself of course! As well as a great reversal through the same tunnel AFA cable is concerned.
  • #304
  • Edited 2:39pm Oct 11, 2013 2:39am | Edited 2:39pm
Hi everyone

HO HUM!!

It gets boring doesn't it? But let me post another chart just to drive in my point!
Attached Image (click to enlarge)
Click to Enlarge Name: gbpnzdm30.png Size: 61 KB
  • #305
  • Oct 11, 2013 2:37pm Oct 11, 2013 2:37pm
Hi everyone

I thought I would post the charts of the 6 trading pairs with the "bounces" off their relevant DASR (dynamic area of support/resistance) TUNNELS. Very important: depending on TREND STRENGTH (can be gauged also by seeing how far price action is below or above the daily pivot point level), we can then go down to lower time frame tunnel to look for a good bounce.

The 26 and 12 ema lines also help to ascertain trend strength and even work as good points to bounce trades off!

Taking all the bounces into account we could have picked up nearly 700 pips today. Not bad, huh?


Some people have asked about trade management or setting a target. Well, have a look at the EURJPY chart. If we use fibbonacci we can see that the retracement bounced nicely off the 61.8 line setting a 120 target which was nicely reached!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: audchfm30.png Size: 62 KB
Click to Enlarge Name: gbpaudm15.png Size: 65 KB
Click to Enlarge Name: gbpnzdm30.png Size: 65 KB
Click to Enlarge Name: gbpusdm30.png Size: 58 KB
Click to Enlarge Name: xauusdm5.png Size: 50 KB
Click to Enlarge Name: eurjpym5.png Size: 63 KB
  • #306
  • Oct 13, 2013 11:53am Oct 13, 2013 11:53am
Hi everyone

Just thought that I would make the rules of our system clear.

1/ Always start with the 1 hour chart and check it constantly to see the "big picture"


2/ Go down to the lower time frame (dasr) tunnel - even down to the 5 min tunnel if necessary to look for bounces if the trend is strong - look again at the xauusd and eurjpy 5 min charts above.

3/ If we have missed the bounce off the Tunnel DASR we can look for bounces off the 12 or even 24/26 ema but ALWAYS with a tight SL

4/ Use 20 to 30 pip SL on higher time frame and 10 pip SL on lower time frame as a general rule. Open TP - use trade management
rules
  • #307
  • Oct 14, 2013 1:44pm Oct 14, 2013 1:44pm
Hello all. Hope you are well. I've been sick but am now feeling better.

I've taken a look at the FXTP EA code and as already noted, without using something such as the Vegas Tunnel, the logic of the EA is too simple by itself to be reliable. Do not use it "naked".

However, by messing with the settings and changing the code, I did get it to be profitable. The best curve had only a few small draw downs, but still, I would not use it stand alone.

One of the problems has to do with what I refer to as CCi drift. After all, it is moving average based. Which means that depending upon the rate of change, the acceleration/deceleration of price, and the market direction (trending or not), it will move around. Hence the recommendation, use it with the tunnel and manually set it to either buy or sell only.

Along with that is the issue of money management. Setting a static TP and SL does not seem to be an effective way of managing the trade.
By setting a small TP, more winning trades, hence fewer losers, can be had, but that in itself is not the answer. Looking at the attached image, you will see where I've marked the CCi crossing the +-100 lines. In both instances, if TP was set to greater than 40 pips, you'd have a loss.
Curiously, also note that both triggers were about at the same price.

On another note. It seems that the money management aspect of the EA works. Though I'm not completely sure what it is supposed to do as I have taken only a cursory look at the code and don't yet understand a few things about it.

Personal note: Still not comfortable or organized enough to trade (Could it be I have ODD, ADD, ADHD, STP, XYZ?). To learn some of the other aspects of trading, I know I must. Goal is to start very soon though. Thanking all for their help, input, and hard work.
Attached Image (click to enlarge)
Click to Enlarge Name: examples losing trades.png Size: 78 KB
  • #308
  • Nov 6, 2013 3:13pm Nov 6, 2013 3:13pm
Hi everyone

Sorry I've been a bit scarce. Been busy with something else.

However the GOOD news is that I've been working on a simple strategy using our same charts/indi's etc., to try to help in finding very high probability set ups.

The secret with any successful system is the set up. Seeing one's trade get into profit really quick helps to build confidence and leads to positive account balance!


Let's look at the strategy:
  • #309
  • Nov 7, 2013 9:58am Nov 7, 2013 9:58am
Hi everyone

OK I've posted the ideal set up below (circled in white)

Here are my important parameters before entering the trade:

1/ ALL our 1 hr vegas tunnels must be lined up - i.e. price action must be below (in the case of a sell trade) ALL of the time frame vegas tunnels (1hr, 30 min, 15 min, 5 min)

2/ 28 ema MUST be below vegas centre (169/144 ema's) on the 5 min chart (indicates a stong trend!)

3/ Price action needs to be obeying our 28 EMA on the 5 min chart (when it drops below we wait for it to fail a re-test before entering)

4/ Use the 12 ema (or 10 ema if you like) as a "filter" to hold on to the trade until a candle closes above/below the 12 ema

you'll find that in 80/90% of these set ups, you'll win at least 30 pips!
Attached Image (click to enlarge)
Click to Enlarge Name: eurusdm5.PNG Size: 42 KB
  • #310
  • Nov 7, 2013 10:05am Nov 7, 2013 10:05am
Note:

1/ I've included the our CCI indi in case you want to use our CCI_FXPT ea

2/ Also interesting how price action tested the BRN envelope (shaded in blue) when it dropped it shot through for an easy 30 pips (and more of course - news related)




(SORRY FORGOT TO ADD PARAMETER 2 IN THE ABOVE POST)
  • #311
  • Nov 9, 2013 10:52am Nov 9, 2013 10:52am
Hi everyone

Difficult day yesterday because of NFP but it was EASY for us with our strategy!

I'm posting the 5 min EURUSD chart from yesterday with our entry points as price action bounced very SWEETLY off our 12 ema (remembering that our other parameters were nicely fulfilled - all vegas tunnels lined up nicely!)
Attached Image (click to enlarge)
Click to Enlarge Name: eurusdm5.png Size: 43 KB
  • #312
  • Nov 9, 2013 11:04am Nov 9, 2013 11:04am
I just wanted to stress that we're not changing the rules here - simply trying to eliminate bad trades!


Guys it's a matter of patience and experience. But the basic idea is to wait for a breakout AWAY from our tunnel centre and a RE-TEST of support/resistance.

Here is another nice example (GBPUSD) from last Thurday:
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdm5.png Size: 47 KB
  • #313
  • Nov 25, 2013 4:57am Nov 25, 2013 4:57am
I just read through this entire thread. I found your strategy interesting because it's similar to what I was trying to do previously; and I guess because it's reasonably mechanical and therefore appeals to my laziness. What I observed is an extremely confusing muddle of different rules, templates, indis and EAs. You have heaps of good ideas here but you never stick to your own rules - then you wipe out an account and change the rules to compensate, as though you're still looking for the holy grail. I lost count of the number of times you posted "OK but THIS time I PROMISE to stick to the rules with my new trade explorer!" You've found more than enough good ideas. Now the challenge is to take control of your emotions and just apply the rules. Anyway, take this as you will. Get offended and/or ban me from your thread if you care to. I wanted to pay you back for giving me a bunch of good ideas by telling you my idea, which is: Get out of your gambling & holy grail search mentality; find a single, tangible set of rules and be disciplined with them.
  • #314
  • Dec 7, 2013 3:26am Dec 7, 2013 3:26am
Quoting paragon
I just read through this entire thread. I found your strategy interesting because it's similar to what I was trying to do previously; and I guess because it's reasonably mechanical and therefore appeals to my laziness. What I observed is an extremely confusing muddle of different rules, templates, indis and EAs. You have heaps of good ideas here but you never stick to your own rules - then you wipe out an account and change the rules to compensate, as though you're still looking for the holy grail. I lost count of the number of times you posted...

Amen to that, paragon. May I add that the 'problem' you describe here, applies to many, if not most, would be traders, including myself... Very hard to stick with one system and very easy to continue the search for the holy grail, after a few losses (of course, it's never your fault, but the system at hand just seems to be unable to provide perfect signals - even moving your stop loss and getting sucked into the wrong direction by those criminal stop hunters is at least partly your system's fault!) Okay, let's do some more tweaking and get this thing finally make me some money!!! Or even better, let's do another google search: "most profitable forex trading system ever", yeah... let's get this show on the road!

Good luck to all you guys (and girls) out there, who, just like me, have a burning desire - and, in my case, NEED - to make it as Forex traders (not kidding).

Cheers
95% of the people don't believe 100% they can win, that's why they lose
  • #315
  • Dec 13, 2013 12:48pm Dec 13, 2013 12:48pm
Some people use FX Sniper Ergodic Indicator to enhance their entry points. I am not sure if it will assist with CCI-89, however it may be worth a look.
  • #316
  • Dec 20, 2013 10:16am Dec 20, 2013 10:16am
Quoting paragon
I just read through this entire thread. I found your strategy interesting because it's similar to what I was trying to do previously; and I guess because it's reasonably mechanical and therefore appeals to my laziness. What I observed is an extremely confusing muddle of different rules, templates, indis and EAs. You have heaps of good ideas here but you never stick to your own rules - then you wipe out an account and change the rules to compensate, as though you're still looking for the holy grail. I lost count of the number of times you posted...
Hi Paragon

Just read your post now - sorry about that

You are absolutely right and I'm certainly not going to ban you for speaking the truth!

Yes I do hope that people see the potential in some of my ideas posted above and can follow the rules which I seemed unable to do! "Teacher teach thyself"!!
  • #317
  • Dec 20, 2013 10:21am Dec 20, 2013 10:21am
Quoting Blaiserboy
Some people use FX Sniper Ergodic Indicator to enhance their entry points. I am not sure if it will assist with CCI-89, however it may be worth a look.


Blaiserboy - will have a look at the FX sniper Indi - never heard of it before!


Anyway guys I have posted my latest Trade Explorer above. You will note that we're 200% up after 13 days and you're probably wondering what I'm doing now! You will be right in thinking that I've changed my strategy - I have! What I've done is simplified everything (same basic system and template) and I'M STICKING TO SOME VITAL RULES - it's working well in fact so well that I'm going live straight after the christmas/new year break!!


ALL WILL BE EXPLAINED OVER THE WEEKEND
  • #318
  • Dec 21, 2013 12:08am Dec 21, 2013 12:08am
Quoting jmtini
{quote} Blaiserboy - will have a look at the FX sniper Indi - never heard of it before! Anyway guys I have posted my latest Trade Explorer above. You will note that we're 200% up after 13 days and you're probably wondering what I'm doing now! You will be right in thinking that I've changed my strategy - I have! What I've done is simplified everything (same basic system and template) and I'M STICKING TO SOME VITAL RULES - it's working well in fact so well that I'm going live straight after the christmas/new year break!! ALL WILL BE EXPLAINED OVER...
I attached a couple of his indis, they may be helpful to someone
Attached File(s)
File Type: ex4 FX_Sniper's_Ergodic_CCI_Trigger.ex4   5 KB | 358 downloads
File Type: mq4 FX_Sniper's_Ergodic_CCI_Trigger_signals_mod.mq4   3 KB | 384 downloads
  • #319
  • Dec 21, 2013 4:16am Dec 21, 2013 4:16am
I`m awaiting your explanations
  • #320
  • Dec 22, 2013 1:44pm Dec 22, 2013 1:44pm
Apologies

Will have to be over the next few days - plenty of time as I would not suggest trading next week due to low volume


OK

Firstly I'm mainly trading the following pairs:

XAUUSD, AUDCHF, GBPAUD and occasionally EURJPY, AUDUSD, GBPNZD, GBPUSD

Time Frames:
DAILY and 15 min in combo - What that means is that I always have the Daily and 15 min charts open on each pair.

My daily chart template and my 15 min chart template are posted below
Attached Image(s) (click to enlarge)
Click to Enlarge Name: daily template.png Size: 40 KB
Click to Enlarge Name: 15 min chart template.png Size: 49 KB
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