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Pure & simple Abonacci system

  • #261
  • Apr 4, 2014 10:07am Apr 4, 2014 10:07am
I find the ea is not taking all the trades but missing some , some explanation from programmers as to how it works will help .

secondly i tried to fiddle with this system and i find that for EU if we put the week pivot as the baseline level and using the murray math to find the length of each level if we put it , it gives a better trade and also remains valid for the week .

all we do is fire sell at 76.4 and fire buy at 23.8 .
  • #262
  • Apr 4, 2014 7:17pm Apr 4, 2014 7:17pm
Entered Long on NU - TP at 76.4% line.
Uptrend in place now,price a rise from below phase (76.4%) break 23.6% level( + 7pips) and closed above 100%

hollowhead,

This chart is correct as rules that have been set?
Attached Image (click to enlarge)
Click to Enlarge Name: NUH4.png Size: 74 KB
  • #263
  • Apr 4, 2014 7:30pm Apr 4, 2014 7:30pm
Quoting sniperdebt
Entered Long on NU - TP at 76.4% line.
Why you make such decision? How many times price moved back from this level in the past? I'm sure it's less 50% stupid heads or tails
  • #264
  • Apr 4, 2014 7:58pm Apr 4, 2014 7:58pm
Quoting GoogleTrader
{quote} Why you make such decision? How many times price moved back from this level in the past? I'm sure it's less 50% stupid heads or tails
look likes double bottom
  • #265
  • Apr 4, 2014 8:16pm Apr 4, 2014 8:16pm
Quoting sniperdebt
{quote} look likes double bottom
Double bottom has not statically persistent. It's 50/50
  • #266
  • Apr 4, 2014 8:32pm Apr 4, 2014 8:32pm
I have been doing forward testing with all major pairs with setting 122 and 156 for yen pairs. So far I have 22 closed trades and 4 open trades and the profitability is indeed! I got 45% win ratio so far but with the 1:2 RR and move stop to BE when price reach 50% as thread starter pointed out and trade regardless of the price action and candle sticks and etc. coz trading to trade without being bias. I will post my complete trade record when I reach 50 trades coz I do not want to post anything chart here and get comments to make me become bias with this system.

Cheer up guys! This is a very good system. I still remember a scientist did the experiment about throw the heads or tails and with good money management still won the game at the end. with this simple and effective system , we should focus more on money management instead of keep fine tuning the settting and stuffs.
  • #267
  • Apr 4, 2014 11:53pm Apr 4, 2014 11:53pm
Hi guys,

I found this system very interesting and started going through some of the materials this morning.

Correct me if I'm wrong, but I don't seem to be seeing the profitability?

I plugged this system into a daily EUR/USD chart and according to the trading rules, here are all the trades you would have taken dating back to April last year:

Attached Image (click to enlarge)
Click to Enlarge Name: Example1-guzardus.jpg Size: 389 KB


And you would have tallied up the total:

Loss (4): 4608 pips
Won (2): 5152 pips
Broke Even (2)

Total: Profit 544 pips (entire year).

It's a win for the year, but 544 pips in a whole year? Wouldn't this figure be a little low and the risk be a little high? I might have misinterpreted some things here and please correct me if I am wrong.

I think I have setup the charts and indicators correctly:

Attached Image

Attached Image
  • #268
  • Apr 6, 2014 6:00am Apr 6, 2014 6:00am
I am planning to post some levels for EU which i will receive from a friend . if it is fine with @hallowhead then i can start from monday . Let us see how it goes ..
  • #269
  • Apr 6, 2014 6:28am Apr 6, 2014 6:28am
Quoting unimak
I find the ea is not taking all the trades but missing some , some explanation from programmers as to how it works will help . secondly i tried to fiddle with this system and i find that for EU if we put the week pivot as the baseline level and using the murray math to find the length of each level if we put it , it gives a better trade and also remains valid for the week . all we do is fire sell at 76.4 and fire buy at 23.8 .
MMM
  • #270
  • Apr 6, 2014 7:21pm Apr 6, 2014 7:21pm
Guzardus, Try using 244, not 488 then your 0/100% lines will fall on the MM levels. I think your results will then be quite different.
  • #271
  • Apr 6, 2014 10:53pm Apr 6, 2014 10:53pm
Baseline for today EU - 1.3699 and level value 74 . buy and sell at 23.6 and 76.4 level and sl below or above 100 level

try it let us c how it goes
  • #272
  • Apr 7, 2014 1:23am Apr 7, 2014 1:23am
h ieverybody,


does this system work for gold and WTI crude oil as well if yes what would be the base line and length setting,

THANKS,
MRMALIK1
  • #273
  • Apr 7, 2014 4:02am Apr 7, 2014 4:02am
Quoting sniperdebt
Entered Long on NU - TP at 76.4% line. Uptrend in place now,price a rise from below phase (76.4%) break 23.6% level( + 7pips) and closed above 100% hollowhead, This chart is correct as rules that have been set? {image}
Looks like a good trade to me.
  • #274
  • Apr 7, 2014 4:05am Apr 7, 2014 4:05am
Quoting wongsiio
I have been doing forward testing with all major pairs with setting 122 and 156 for yen pairs. So far I have 22 closed trades and 4 open trades and the profitability is indeed! I got 45% win ratio so far but with the 1:2 RR and move stop to BE when price reach 50% as thread starter pointed out and trade regardless of the price action and candle sticks and etc. coz trading to trade without being bias. I will post my complete trade record when I reach 50 trades coz I do not want to post anything chart here and get comments to make me become bias with...
money management is the one thing a trader can control.

Remember, we trade to make money in the long-term - not prove we are right all the time.
  • #275
  • Apr 7, 2014 4:09am Apr 7, 2014 4:09am
Quoting unimak
I am planning to post some levels for EU which i will receive from a friend . if it is fine with @hallowhead then i can start from monday . Let us see how it goes ..
Hi unimak (sorry not to respond sooner). I would really like to know how the levels are calculated, their significance etc. We really don't need another thread where members are dependent on a 'secret' or 'person'. If you are happy to explain the premise behind the levels, then I have no problem with you posting them (as long as members would be able to calculate them themselves). But I would ask that they fit with the basic concept of the thread and the calculation is transparent.
  • #276
  • Apr 7, 2014 4:12am Apr 7, 2014 4:12am
Quoting mrmalik1
h ieverybody, does this system work for gold and WTI crude oil as well if yes what would be the base line and length setting, THANKS,
Oil and and Gold baselines and length have been posted on the thread a little while back.
  • #277
  • Edited Apr 8, 2014 2:47am Apr 7, 2014 4:38am | Edited Apr 8, 2014 2:47am
  •  moursi
  • | Joined Dec 2011 | Status: don't try to change the world .... | 78 Posts
ok lets make it simpl for all boys
for euro usd this month
Baseline=April pivot points=1.3814
April pivot points come out at first april
Size=March high-March low=13966-13704=262
so what
the Baseline and the Size for euro usd april 2014 until the end of april is
Baseline=1.3814
Size=262
and that is the right way to come up with the Baseline and the Size for all currency pairs
go shor at 76.4% fib level tp at 23.6% fib level
when you go short stop loss at 14.6% fibo levels
go long at 23.6% fib level tp at 76.4% fib level
when you go long stop loss at 86.0% fibo levels
use macd histogram to enter trad
enter the trade after the candel close

all kudos and respect goes to aebab and hollowhead and fx_mig for the mq4
thx all and happy trad

Attached Image (click to enlarge)
Click to Enlarge Name: eurusdh4.png Size: 25 KB

Attached File(s)
File Type: mq4 Abonacci Templates Manual v7.0.mq4   6 KB | 792 downloads
Rule #1: Never Lose Money Rule #2: Never Forget Rule Number One
  • #278
  • Apr 7, 2014 4:44am Apr 7, 2014 4:44am
A few people have asked about the significance of the MM levels - here's a quick overview of how the levels are normally perceived.

8/8th and 0/8th Lines (Ultimate Resistance)
These lines are the hardest to penetrate on the way up, and give the greatest support on the way down.

7/8th Line (Weak, Stall and Reverse)
This line is weak. If prices run up too far too fast, and if they stall at this line they will reverse down fast. If prices do not stall at this line they will move up to the 8/8th line.

6/8th and 2/8th Lines (Pivot, Reverse)
These two lines are second only to the 4/8th line in their ability to force prices to reverse. This is true whether prices are moving up or down.

5/8th Line (Top of Trading Range)
The prices of any currency will spend 40% of the time moving between the 5/8th and 3/8th lines. If prices move above the 5/8th line and stay above it for 10 to 12 days, the currency is said to be selling at a premium to what one wants to pay for it and prices will tend to stay above this line in the “premium area”. If, however, prices fall below the 5/8th line then they will tend to fall further looking for support at a lower level.

4/8th Line (Major Support/Resistance)
This line provides the greatest amount of support and resistance. This line has the greatest support when prices are above it and the greatest resistance when prices are below it. This price level is the best level to sell and buy against.

3/8th Line (Bottom of Trading Range)
If prices are below this line and moving upwards, this line is difficult to penetrate. If prices penetrate above this line and stay above this line for 10 to 12 days then prices will stay above this line and spend 40% of the time moving between this line and the 5/8th line.

1/8th Line (Weak, Stall and Reverse)
This line is weak. If prices run down too far too fast, and if they stall at this line they will reverse up fast. If prices do not stall at this line they will move down to the 0/8th line.

Taken from http://www.fxtechnicaltrade.com/what...rey-math-lines
  • #279
  • Apr 7, 2014 4:57am Apr 7, 2014 4:57am
Quoting hollowhead
Sizes and baselines for pairs GBP/USD Size - 122, 244 or 488 Baseline - 1.5625 GBP/JPY Size - 156, 312 or 625 Baseline - 150 GBP/AUD Size - 122, 244 or 488 Baseline 1.95313 EUR/USD Size - 122, 244 or 488 Baseline - 1.31836 EUR/AUD Size - 122, 244 or 488 Baseline - 1.36719 USD/CHF Size - 122, 244 or 488 Baseline - 0.92773 USD/JPY Size - 156, 312 or 625 Baseline - 87.5 EUR/JPY Size - 156, 312 or 625 Baseline - 125 AUD/NZD Size - 122, 244 or 488 Baseline - 0.97656 USD/CAD Size - 122, 244 or 488 Baseline - 1.02539 AUD/USD Size - 122, 244 or 488 Baseline...
Hello Hollowhead thanks for the thread. In the baselines and lengths that you have posted you some sezes in bold font, is there a significance?
  • #280
  • Apr 7, 2014 5:14am Apr 7, 2014 5:14am
Quoting shiva
{quote} Hello Hollowhead thanks for the thread. In the baselines and lengths that you have posted you some sezes in bold font, is there a significance?
Hi Shiva

I have bolded the length that is a 1:1 fit. By that I mean there is one full abonacci phase between the Murrey Math Levels (and generally what I am trading).

Steve
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