There seems to be a lot of people banking on the magic indicator. We have a very good system from Nihilist which is more than capable of giving good pips if we learn it properly without the magic indicator!!!
{quote} Honestly I do not know. I am still playing with the indicator and trying to figure out if the indicator is a good fit for me or not. I like the indicator but need to figure out exactly how it works or best way to trade it for me. If anyone else knows perhaps they could answer.
PA is king.
Thanks again Nihilist for all your hard work.
Faith ends where worry begins, and worry ends where faith begins.
- #2,984
- Edited 8:12am Aug 15, 2014 7:55am | Edited 8:12am
- | Joined Jan 2013 | Status: Live the dream.... | 1,153 Posts
End of week trade. Just closed E/J for 50+ pips. Could run up some more as PA exploded away from a consolidation level on 4Hr TF. Not going to be greedy though as today is last day of the week and been holding the trade since yesterday with minimal drawdown (15 pips). Daily ADR range high was also hit. {image}
If I am not back on here hope everyone has a great weekend.
I on the other hand hope its not to long so we can get back to trading.
Faith ends where worry begins, and worry ends where faith begins.
I totally agree. Nihilist has given us many powerfull indicators. I think that we could work as a group to: - Build a system based on these indicators (or some from nihilist + other(s)). - Try the system in real time sharing with the group the entries made - back test it to get a quick feed back of the performance of the system (% of win, ratio, etc...). If we are 10 and each of us try one forex pair, we would earn plenty of time. Has anybody a H4 system which seems to give good results (maybe yourself Indrek?) Who shall be interested to form part...
I understand what you are saying. Please understand Nihilist already gave us a system and that is what this thread is about.
If you decide to build another system, I would suggest you make a thread on it. The reason why is because there will be many posts trying to figure out which indicators to use, backward and or forward testing, timeframes, when to trade, TP, SL, etc which means many posts on this. This would distract many people.
If you read the thread some have combined this system with Eitan system or other ways to trade. If you have something that you feel that may work you may be able to post here as long as it doesn't take away too much from the main objective of this thread which is Nihilist indicators and his system.
Hope you understand my friend.
Faith ends where worry begins, and worry ends where faith begins.
- #2,991
- Aug 15, 2014 11:55am Aug 15, 2014 11:55am
- Joined Jun 2009 | Status: Trader | 2,430 Posts
I think that we could work as a group to: - Build a system based on these indicators (or some from nihilist + other(s)). - Try the system in real time sharing with the group the entries made - back test it to get a quick feed back of the performance of the system (% of win, ratio, etc...). If we are 10 and each of us try one forex pair, we would earn plenty of time. Has anybody a H4 system which seems to give good results (maybe yourself Indrek?) Who shall be interested to form part of that working group? {quote}
Like I said, the system is absolutely ready for anybody who has done enough individual work on it. So, there is not much to be done besides trading it.
And one more important thing: it is impossible that 10 people trade the same system exactly the same way. It simply does not work. What can be done is sharing ideas and experience. But NEVER copy exactly what some other trader is doing.
I will post one template that is good enough for trading H4 charts with Nihilist indicators. Stay tuned
{quote} I do not quite understand the idea of forming a new working group because that what any thread already is - a group of people working on one system. Like I said, the system is absolutely ready for anybody who has done enough individual work on it. So, there is not much to be done besides trading it. And one more important thing: it is impossible that 10 people trade the same system exactly the same way. It simply does not work. What can be done is sharing ideas and experience. But NEVER copy exactly what some other trader is doing. I will...
Faith ends where worry begins, and worry ends where faith begins.
- #2,996
- Edited 5:38pm Aug 15, 2014 12:46pm | Edited 5:38pm
- | Membership Revoked | Joined Feb 2013 | 757 Posts
{quote} No way. Only repainting indicator on this template is Nihilist UltraTrend. So, if anybody wants to waste time on backtesting, it should be replaced with NihilistMagic, which seems to be just a non-repainting version of the same indicator.
Faith ends where worry begins, and worry ends where faith begins.
Thank you very much for your comments. I quite agree. What I think is that we miss in the thread, and Nilhist reminds it once and again, is to share the operations we make to go on sharing ideas, modifications we make on the original system etc... (by the way I suppose it would be helpfull for him to get new ideas).
For example it is interesting to discover Indrek system to compare with the original one. Thank you for that. Have you got some figures of %wining? You're normally fix the SL and TP and wait for the result or adjust the SL and or TP according to the PA?
Forexvegan, what system do you use now? I think that the original system has changed as far as new indicators were developped after the first strategy issue.
Thanks again
For example it is interesting to discover Indrek system to compare with the original one. Thank you for that. Have you got some figures of %wining? You're normally fix the SL and TP and wait for the result or adjust the SL and or TP according to the PA?
Forexvegan, what system do you use now? I think that the original system has changed as far as new indicators were developped after the first strategy issue.
Thanks again
{quote} Thank you for this. Agreed. I don't stray away from my system because it works for me. I love hearing other peoples ideas and there trades but I never trade blindly. If someone agrees with me and I know he is a good trader it just gives me extra confidence to pull the trigger. Hence why I am looking for a good trading partner.
- #2,999
- Aug 15, 2014 1:36pm Aug 15, 2014 1:36pm
- | Joined Jan 2013 | Status: Live the dream.... | 1,153 Posts