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Sharing my profitable and simple strategy

  • #121
  • Jul 15, 2014 7:02am Jul 15, 2014 7:02am
Nice work Nepal.

My H4 was not same set up due to broker differences but that should not always make a difference.

If Someone posts a chart of H4 different than yours, watch your chart for close of H1, M15 or M5. Use the same level to trade from. Will prepare some charts to show what I mean.
  • #122
  • Jul 15, 2014 7:26am Jul 15, 2014 7:26am
Quoting Nepul
{quote} If you want to try to code a strategy like this i think we should change something. For example we should refers to some price levels and wait they will hunt the stop loss to enter. Price Level like daily high or low, or 4h high or low, strong support and resistance...there wait they hunt stop loss and re-enter in the previous range(candle)... In this way test to optimize the trade management, cause i dont think it's possible to have 2-3-4 stop loss with an ea.. If you are interested i give you a support and resistance indicators who refers...
Nepul, yes I can code in mql4. I only do that translate step after I have done sufficient testing in NT7. I just don't like the testing in MT4. Since only maybe 5% pass the NT7 tests, I can cancel a lot of strategies before I have to code them needlessly in MT4.

I am definetely interested in the SL indicators you mentioned so that I can get a better grasp. I have made a 2nd version of my entry tests, for Buy only.
The rules in this code I followed for entry are:
- wait for a strong H4 bar to close, that makes a new 10 bar minimum.
- I then move to 5M bars, and wait until there is one that closes where the minimum was not more then 5 pips before the low level set by H4
- then, when there is a 5M bar that closes above, I enter a Buy Limit with level 2 pips below the H4 low.
- I exit at 5M upper Bollinger band
This gives a lot more signals as you mentioned.
On USDJPY from July2010 to July2014 there were 74 buys.
Success rate was only 30%, but reward versus risk was 2, so about break even.
I am going to hold off from further coding untill I get a better understanding about what makes a good entry. I will follow this thread and study it for a while, and then give it another go.
The chart attached gives an example of a lost, and won entry on 5M bar view. The green arrows indicated the end of the last H4 bar.
Attached Image (click to enlarge)
Click to Enlarge Name: nepul02.jpg Size: 153 KB
  • #123
  • Jul 15, 2014 8:50am Jul 15, 2014 8:50am
To make this a bit more clear, I've made a five minute video which shows ONLY the basics of this trade. With Nepals help we will continue to improve the explanation of the best way to locate valid trades and how to avoid losses.

Inserted Video
  • #124
  • Jul 18, 2014 9:17am Jul 18, 2014 9:17am
Another very profitable opportunity...risk 3-4 pips, earn more than 30 pips...
Attached Image (click to enlarge)
Click to Enlarge Name: last.png Size: 62 KB
  • #125
  • Jul 18, 2014 9:36am Jul 18, 2014 9:36am
This one is perfect !
Attached Image (click to enlarge)
Click to Enlarge Name: lll.png Size: 60 KB
  • #126
  • Jul 18, 2014 11:02am Jul 18, 2014 11:02am
Great simple system... subscribed and will be following closely!

Thanks Nepul
Remember that guy who gave up? Neither does anyone else.
  • #127
  • Jul 20, 2014 4:42am Jul 20, 2014 4:42am
Hi there
I am a trader that does quite well, and inadvertantly I have cross over with Nepul. I just want to clarify does Nepul enter after the confirmation candle has formed? So you have your WRB (Min/Max) candle, then you have the fake out next candle (with the 4 or so pip shadow/wick which doesn't follow through) then after that candle do you enter above the high? Just curious because if you enter on the candle that forms the 4 pip with no follow through it could quite easily turn against you....
So far enjoying the posts in Forex, although I do admit I try to trade more than cruising forums but you definately get some great ideas here though!

Peace to All
  • #128
  • Jul 22, 2014 6:47am Jul 22, 2014 6:47am
Hi Nepul,

thanks for sharing this simple and promissing system.

I have a question regarding the entry. Though this seems self answering, I would like to have clearification.
When a min candle according to your definition forms, do you observe price action with ask price and define your entries
according the ask chart? Or do you stick to the bid price and enter as soon as the following candle comes back to hit the low of the min candle (after breaking the low of the min candle by 4 pips)?

Let me give an example. 4H charts forms a min candle. I mark the min on the bid chart. When I switch to Ask, the min is a litle bit higher (difference is the spread). Which one would be your trigger? I tryed your system with using the the ask price for min candle and bid price for using the max candle. Is that correct?

Happy pips,
WMN
Never stop to learn
  • #129
  • Jul 28, 2014 12:28pm Jul 28, 2014 12:28pm
Hi Nepul,

your strategy sounds very good, especially the R:R approach.
When I check out your entries on the charts you have posted, I come to the conclusion that this system you are using is difficult to trade because of the discretionary method. I think there is much technical analysis and market experience necessary to understand such a way of trading.

The strategy is definitely profitable but please, can u tell me how do you filter the very good trades from the less good trades?
  • #130
  • Jul 28, 2014 12:57pm Jul 28, 2014 12:57pm
Quoting wickstrader
Hi Nepul, your strategy sounds very good, especially the R:R approach. When I check out your entries on the charts you have posted, I come to the conclusion that this system you are using is difficult to trade because of the discretionary method. I think there is much technical analysis and market experience necessary to understand such a way of trading. The strategy is definitely profitable but please, can u tell me how do you filter the very good trades from the less good trades?
I used it two times the last weeks ..
Only H4 after very long candles.
in my main trading strategy ( dance )itīs called " dead end" ..
it worked fine .. on my real account..
I donīt like backtesting , but I watched a couple of weeks / months in the history and there are very good entries.
I really can recomment it to use it next to a priceaction-strategy ..
In more 98 entries , I can give a statistic.. but for a first view it looks nice ..
Itīs very easy to handle .
Guido
Risiko birgt immer auch die Chance.
  • #131
  • Jul 28, 2014 1:41pm Jul 28, 2014 1:41pm
Yes, I think so too that this method works fine. Nevertheless I am a bit sceptical when trying this out on a real account as solid rules are missing and emotions could affect your actions and your trading results. But it produces a positive expected value in the long term (EV > 0) what makes it kinda interesting
  • #132
  • Jul 28, 2014 2:13pm Jul 28, 2014 2:13pm
Quoting wickstrader
Yes, I think so too that this method works fine. Nevertheless I am a bit sceptical when trying this out on a real account as solid rules are missing and emotions could affect your actions and your trading results. But it produces a positive expected value in the long term (EV > 0) what makes it kinda interesting
You can do it with mini or microlots ..
Worst case youīll lose cents or max five Dollars.
In my opinion itīs a good strat " NEXT " to another priceaction strat ..
If you sit next to the screen and have a big breakout .. H4 candle is growing ,
And a next one opens ( specially at a round number or a Fibo level ).. itīs a good chance to take some extra pips ..
Keep it simple , just some extra sweets ..
Risiko birgt immer auch die Chance.
  • #133
  • Jul 28, 2014 2:38pm Jul 28, 2014 2:38pm
I meant trading at least one lot on real precisely because of the marvelous R/R Ratio. I'd prefer the majors especially those at times with high volume and low spreads.
  • #134
  • Jul 28, 2014 3:19pm Jul 28, 2014 3:19pm
Thanks you very much at all trader who are interested to this strategy...
Strategy i tried to explain here is only the begin...but in this way can be profitable as well...
this strategy need to be filtered in a different way to have less stop loss .
Unluckly this is only what i can explain here, i have a online trading school with students that pay to learn this method,so in their respect it's not possible to continue and explain the entire strategy..
A lot of people are contacting me to help to filter and explain better, but really it's not right if i do it.
But the way cause there are enough interested people i'm trying to find some solution for this maybe we are organising some course who explain the entire methods...
  • #135
  • Jul 28, 2014 5:09pm Jul 28, 2014 5:09pm
Nepul, what exactly do you mean by that?

Quoting Nepul
this strategy need to be filtered in a different way to have less stop loss
  • #136
  • Jul 28, 2014 5:13pm Jul 28, 2014 5:13pm
Quoting wickstrader
Nepul, what exactly do you mean by that? {quote}

as i explained the strategy can be for the same profitable, by the way as you can see there will be a lot of bad signal and stop loss , by the way thanks to the great R:R you will be in profit in the end...
in my entire method i explain the best way to filter it having more winning trades...
  • #137
  • Jul 29, 2014 6:08am Jul 29, 2014 6:08am
The scalping trade after the hunting stop.
1 minute chart
2 pips stop loss

http://gyazo.com/fc897615a3054be39449664ff68fed50
  • #138
  • Jul 29, 2014 8:25am Jul 29, 2014 8:25am
EURUSD hunting stop
2 pips stop loss


http://gyazo.com/0b2e4e42cd3e153b4a9ada225ff663f7
  • #139
  • Jul 29, 2014 1:28pm Jul 29, 2014 1:28pm
Hey Nepul, why do you trade 1min-chart and why are you scalping?
It contradicts your rules because you said that higher timeframes especially 4hour-charts are "very profitable"
  • #140
  • Jul 29, 2014 1:35pm Jul 29, 2014 1:35pm
Quoting wickstrader
Hey Nepul, why do you trade 1min-chart and why are you scalping? It contradicts your rules because you said that higher timeframes especially 4hour-charts are "very profitable"

As i said 4h charts it's very profitable, by the way i filter the entries in a different way on 1 -5 -10 -15 minute charts...
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