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Sharing my profitable and simple strategy

  • #41
  • Jul 8, 2014 8:10pm Jul 8, 2014 8:10pm
Hi Nepul,

thank you for posting and sharing this system. Do you use any helpers (tools) to identify entry points and trade management or just visual. Also do you scan for all currencies do you have your favourites ? Thank you for your time

cheers
hannele
  • #42
  • Jul 8, 2014 8:30pm Jul 8, 2014 8:30pm
Thank you Nepul for sharing your trading strategy on here. I am glad to have a place finally that I can get help for a trading tool that I have written to many many here and there to get help. One of my trading strategy is the same as with yours, which I call it "fading a level". My way is to pick up a level, that may be different from yours, but to take trade is the same.

For example, after a main up trend, I pick up a daily high level to watch. After fading stoploss above this level price comes back below the level. I would enter short on the way price comes back and passes through under this high.

The tool I am in need of is an EA which can:

- Watch a level that trader will specify specifically, for example: 1.1030
- When price goes through above it, now at 1.1040 for example. Now EA opens a pending stop sell order @ 1.1030.
-When price comes back going through 1.1030, the order is executed.
- Stoploss is put above the newest high just formed several pips as trader's risk tolerance, for example newest high is 1.1040, stoploss 5 pips above is 1.1045.

This tool I believe it is good fit with the strategy here and useful for all traders learning your strategy here. I believe what I am raising in my post as a supplement to the thread and not off-topic. Do hope coders visiting here and help develop it.

Thank you.

Exciter135
  • #43
  • Jul 8, 2014 8:42pm Jul 8, 2014 8:42pm
Quoting Exciter135
Thank you Nepul for sharing your trading strategy on here. I am glad to have a place finally that I can get help for a trading tool that I have written to many many here and there to get help. One of my trading strategy is the same as with yours, which I call it "fading a level". My way is to pick up a level, that may be different from yours, but to take trade is the same. For example, after a main up trend, I pick up a daily high level to watch. After fading stoploss above this level price comes back below the level. I would enter short on the...
Nepul.. thanks for starting the thread and sharing your knowledge.

Exciter... how do u define the level to open the pending order for EA? what are the conditions? or you want to make an interactive EA, where you specify the levels each time? Just for curiosity sake... is this the method you trade in real?
  • #44
  • Jul 8, 2014 9:03pm Jul 8, 2014 9:03pm
Quoting vinforex7
{quote} Nepul.. thanks for starting the thread and sharing your knowledge. Exciter... how do u define the level to open the pending order for EA? what are the conditions? or you want to make an interactive EA, where you specify the levels each time? Just for curiosity sake... is this the method you trade in real?
Thank vinforex7 for your response. I don't quite understand the term "interactive EA", but you are right that level would be put into EA each time to trade by traders. In my above example, I would put value 1.1030 into EA as entering price. The definition and conditions for level to enter we should leave it depending on traders' various techniques.

Thank you.

Exciter135.
  • #45
  • Jul 8, 2014 9:08pm Jul 8, 2014 9:08pm
by interactive, I meant.. for each trade, the trader need to input the value.. right? if fully automised, the EA would define the levels. It seems you dont' wanna disclose your strategy... cool All the best buddy....!
  • #46
  • Jul 8, 2014 9:13pm Jul 8, 2014 9:13pm
Nepul...
If you could give some live examples with charts... it'd be great help. Dont need to give it before it happens and make it sound like a signal service, but may be after.. it's just done? Also, while using Bollinger bands... you take big candles that goes out of the BB only? and what if the next candle goes may be 10 or 15 beyond the Min or Max candle? how do u trade it? will you trade it? or u trade something that only extends 4 or 5 pips beyond the min or max candle? I think I do get the idea.. but a few charts would make it clear for all of us here. Thanks buddy....
  • #47
  • Jul 9, 2014 1:40am Jul 9, 2014 1:40am
Quoting kamifx
i don't wanna object about your method but those who wanna open 3 or 4 position per week better trade for stock or another market because one of the advantages of Forex Market is the ability to trade more than other Market and traders here (mean Forex Market) for trading in any moment and try to find opportunity to trade and may make money I think you misunderstand Forex with other Markets
kamifx, that's ok if that is your approach, but you seem to want to speak for all Forex traders. I for one am also only trading about 3-4 trades/week. It is not because the market offers the possibility to trade more, that I should. My brokers would love me to trade more... Guess it all depends on the trading method. So far, the only trading systems that I found to be profitable over many years only trade little, so I am sticking to that. As soon as I find a profitable system that trades several times per day I will do so, but haven't found that yet...
  • #48
  • Jul 9, 2014 2:07am Jul 9, 2014 2:07am
  •  EDG
  • | Joined Feb 2007 | Status: Nothing is fixed. Keep an open mind | 229 Posts
Quoting Nepul
....Ok, let's explain simple rules. TREND , RANGE , HUNTER STOP, TREND IN THE OPPOSITE DIRECTION. After a trend , price usually make a range, often price go to hunter stop and go in the opposite direction, well, we will enter when price hunt stop. HOW?? Take 4h chart , take a candle who make a strong min or max(i help myself with bollinger bands to do it) wait price break the min or max of maximum 4 pips and when it go back and re-enter in the previous candle we will buy/sell. look the images to help you for the entry. The most important thing in...
With due respect...correct me if i am wrong...If i read you correctly..u will only enter after a trend when price goes into a range? If thats the case..why not trade the trend instead since you can identify the trend as well as the range consistently....u get more profits that way and you dont even need to wait for the trend to complete and go into ranging mode before u initiate a trade. Also...trading on a 3-4 pips risk using 4hr timeframe is a little unrealistic as the spread will take you out in no time.
Hindsight is useless if you never learn anything out from it
  • #49
  • Jul 9, 2014 2:14am Jul 9, 2014 2:14am
Nepul, by all means keep sharing. In your first post you say you are open to collaborate to maybe turn this into an EA. I am going to give this a try in trying to code this system if you agree. I suggest to post the code progress here to try and get constant feedback. One of the first things I try to code is replicate the entry. I am going to try and define the entry rules somewhat stricter: below just for a SELL entry:
- last closed candle has a large wick ( close < 0.5(High-Low) )
- last closed candle High > High of the previous 5 candles + 4 pips
- last candle closed in the upper quarter of the bollinger band
It's your system of course, so can you comment on these entry rules? (correct?, some missing etc..)
  • #50
  • Jul 9, 2014 6:24am Jul 9, 2014 6:24am
it will be amazing if someone can code this strategy in a ea.
the main rule is: after a big candle who make a strong min or max, the next one has to go in the direction of the max/ min, break it for maximum 4 pips and then come back in the opposite direction,remember we enter one pip below the previous max, or one pip above the previous min.
I think it's very difficulut an ea can be profitable but i really like to try , i will be very grateful if someone can do it.
by the way i will try to make more clear the strategy with this examples...
YESTERDAY USDYEN 4H :

in the first image you see 4h chart , price make a first 4h min, price go back only to hunt stop but then go up only 5 pips...so in the first we risk 1.5 pips and target 5 pips....not good !
as you can see, after the first min,it make another min on the 4h ! so the price go again down break for only one pip and then go up for 25 pip(until now), so we have a risk of 2 pips to earn at least 20...
in the second image i try to explain better it is the same but with 15 charts..
i hope you really understand now , if you have other question for the input of the ea tell me.
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  • #51
  • Jul 9, 2014 8:08am Jul 9, 2014 8:08am
So you took both, and were stopped out of first one for a loss?
  • #52
  • Jul 9, 2014 8:27am Jul 9, 2014 8:27am
yesterday i made only one trade , the same of the post #36.
i risked 2 pips and i earned 10 pips.
  • #53
  • Jul 9, 2014 8:30am Jul 9, 2014 8:30am
ok I will rephrase that

So in the example you just posted, IF you had taken those trades, you would have been stopped out of the first one for a loss and in profit on the 2nd one?

Just trying to make sense of the chart.. sorry..
  • #54
  • Jul 9, 2014 8:34am Jul 9, 2014 8:34am
i want to say something about my strategy to all people who like this method and want to learn it.
It's completely not easy, it need a lot of time analizing charts and understanding what is the main important point where the big bank will hunt the stop loss.
The most of people who study in my trading school and make my trading course need at least of 4-5 months to learn this trading system...so patience !
  • #55
  • Jul 9, 2014 8:37am Jul 9, 2014 8:37am
Quoting leeshindig
ok I will rephrase that So in the example you just posted, IF you had taken those trades, you would have been stopped out of the first one for a loss and in profit on the 2nd one? Just trying to make sense of the chart.. sorry..
hi leeshindig, it dependes by you...how you want to manage trade?
sometimes i use to breakeven after 4-5 profit point and placing target profit with a R:R 1:5 or 6 ....
  • #56
  • Jul 9, 2014 8:40am Jul 9, 2014 8:40am
Quoting Nepul
it will be amazing if someone can code this strategy in a ea. the main rule is: after a big candle who make a strong min or max, the next one has to go in the direction of the max/ min, break it for maximum 4 pips and then come back in the opposite direction,remember we enter one pip below the previous max, or one pip above the previous min. I think it's very difficulut an ea can be profitable but i really like to try , i will be very grateful if someone can do it. by the way i will try to make more clear the strategy with this examples... YESTERDAY...
Do you account for spreads?

Let's assume we're working with a 'min' candle as per your images. By my calculation with an average spread of 2-3 across most currency pairs (1pip if you're with a good broker on EURUSD), if the bid price went down 4 pips breaking the min candle and you create a pending order 1 pip above the previous 'min', the bid would only have to go back up 3 pips before entering your pending order (assuming the spread is 2 pips).

SL would be placed 4 pips below the 'min' candle, so the bid price would only have to tick 3 pips back to stop you out... If you switch to a smaller time frame I can guarantee that most of the time you will get ticking back and forth (and getting stopped out) before it retracing back up the 'min' candle into profit.

Unless there's more to it, I just don't see how you're not stopped out constantly with your rules?
  • #57
  • Jul 9, 2014 8:45am Jul 9, 2014 8:45am
Putting it another way - we're essentially assuming here that once price breaks the min/max candle by 4 pips and goes back 3 pips to trigger the pending order 1 pip above/below the min/max, that price will not move back 3 pips any more times (where your SL is) before heading into the direction of your trade...
  • #58
  • Jul 9, 2014 8:50am Jul 9, 2014 8:50am
Quoting pierre23
{quote} Do you account for spreads? Let's assume we're working with a 'min' candle as per your images. By my calculation with an average spread of 2-3 across most currency pairs (1pip if you're with a good broker on EURUSD), if the bid price went down 4 pips breaking the min candle and you create a pending order 1 pip above the previous 'min', the bid would only have to go back up 3 pips before entering your pending order (assuming the spread is 2 pips). SL would be placed 4 pips below the 'min' candle, so the bid price would only have to tick 3...

For sure i dont pay 2-3 pips for the spread!!
i use dukascopy for eurusd and usdyen i have 0.3 -0.4 + commision == in total max 0.8
for the others currency i can pay more, but maximum 1.5 .
in this way i can accept a 4 pip stop loss for gbpusd , euroyen, and also less for usdyen and eurusd.
Take the post# 36 look where i entered and where i placed stop loss in total with spread i had 2 pips stoploss.
It's very difficult , almost unrealistic, but it's possible to have very tight stoploss on higher timeframe.
  • #59
  • Jul 9, 2014 8:56am Jul 9, 2014 8:56am
Quoting pierre23
Putting it another way - we're essentially assuming here that once price breaks the min/max candle by 4 pips and goes back 3 pips to trigger the pending order 1 pip above/below the min/max, that price will not move back 3 pips any more times (where your SL is) before heading into the direction of your trade...

Maybe i wrong something to explain...
i told you if price break for maximum 4 pips and it come back we assume it's a fake breakout and we can take a position, the most of the time price will break for only 1 or 2 pips before to re-enter in the previous candle..
dont care too much about the stop loss, assume only that the max stop loss you can have is 4-5 pips stop loss , no more!! but your gain higher!
This is a discretional system, you can choice only candle who break 1-2 pips(as i do) to have tight stop loss, or you can choice break also of3-4-5 pips and have large stop loss..
  • #60
  • Edited 10:16am Jul 9, 2014 10:02am | Edited 10:16am
i made this trade 5 min ago, euryen 30 min

What do you think about it?

I took the max , until now +5 , i set my breakeven and go away.
stop loss 3 pips included spread and take profit +11
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