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Magic 5 - five pips only

  • #121
  • Dec 2, 2014 5:38pm Dec 2, 2014 5:38pm
Quoting Edlich
Still finding my feet with this really, so a bit on the over cautious side, but a couple of CT winners today, no losses, can't complain {image} {image}
Edlich what is the meaning of CT? THANKS.
  • #122
  • Dec 2, 2014 7:09pm Dec 2, 2014 7:09pm
Quoting jops
{quote} Edlich what is the meaning of CT? THANKS.
Counter Trend
  • #123
  • Dec 2, 2014 7:42pm Dec 2, 2014 7:42pm
Quoting spyderman
{quote} Counter Trend
thanks bro.
  • #124
  • Dec 2, 2014 8:51pm Dec 2, 2014 8:51pm
Here is a trading EA for the 5 pip system. I encourage others to improve on it. All of the parameters are configurable and incorporates a trailing stop loss as well as a take profit. I invite you to optimise the parameters and offer constructive criticism. Many thanks to tk5 for the trading idea.
Attached File(s)
File Type: mq4 5 Pips System.mq4   10 KB | 572 downloads
  • #125
  • Edited 3:46am Dec 3, 2014 1:54am | Edited 3:46am
Quoting Dave_C
Here is a trading EA for the 5 pip system. I encourage others to improve on it. All of the parameters are configurable and incorporates a trailing stop loss as well as a take profit. I invite you to optimise the parameters and offer constructive criticism. Many thanks to tk5 for the trading idea.{file}
appreciate efforts..however, EA thing is tricky since this method likes hand-picking. did some backtesting, it cried. it should rely on rsi-based signals maybe then it will enter better trades.
always draw trendlines
  • #126
  • Dec 3, 2014 3:58am Dec 3, 2014 3:58am
Hi Guys
I am new to this thread but am very excited. I have attached a chart of my trade for this morning.
Any comments from people experienced with this system are very welcome. Was my entry ok ( i know it won ) or should I have been in on the previous candle. My entry was on the green arrow bar.
Thanks
Martin
Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2014-12-03 at 15.24.20.png Size: 79 KB
  • #127
  • Dec 3, 2014 4:24am Dec 3, 2014 4:24am
Hai...tk5...

I use 5 mts charts in EU, GU, UC, EJ, GJ...5 pips guaranteed...

1. FRACTALS
2. 50 SMA / 5 EMA shift 2
3. MACD

Rules :
Buy :
Fractals at bottom,
Price close above 5 EMA
Overall price above 50 SMA.
Filter MACD above "0"

Sell : VICE VERSA...

See pic below:
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd-m5.png Size: 42 KB
  • #128
  • Dec 3, 2014 4:42am Dec 3, 2014 4:42am
Quoting haircut
Hi Guys I am new to this thread but am very excited. I have attached a chart of my trade for this morning. Any comments from people experienced with this system are very welcome. Was my entry ok ( i know it won ) or should I have been in on the previous candle. My entry was on the green arrow bar. Thanks Martin {image}
Great work mate!

Yes I believe the entry should have been the previous candle, which was the first candle to open above the 5EMA, but you did well!
Life is like a snickers, its full of nuts!
  • #129
  • Dec 3, 2014 4:51am Dec 3, 2014 4:51am
Quoting bala5855
Hai...tk5... I use 5 mts charts in EU, GU, UC, EJ, GJ...5 pips guaranteed... 1. FRACTALS 2. 50 SMA / 5 EMA shift 2 3. MACD Rules : Buy : Fractals at bottom, Price close above 5 EMA Overall price above 50 SMA. Filter MACD above "0" Sell : VICE VERSA... See pic below: {image}
hey mate. if it works open a new thread for you.
always draw trendlines
  • #130
  • Dec 3, 2014 5:09am Dec 3, 2014 5:09am
Hi again guys.
This was a second trade for today and my second with this method again it won but would this have been considered a risky entry? I know it was close to what looks like the price finding support.
Thanks for all helpful advice in advance. I am very excited by this method.
Thanks
Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2014-12-03 at 16.34.29.png Size: 85 KB
  • #131
  • Dec 3, 2014 11:25am Dec 3, 2014 11:25am
Quoting haircut
Hi again guys. This was a second trade for today and my second with this method again it won but would this have been considered a risky entry? I know it was close to what looks like the price finding support. Thanks for all helpful advice in advance. I am very excited by this method. Thanks {image}
you should have entered from second red candle though.
always draw trendlines
  • #132
  • Dec 3, 2014 12:26pm Dec 3, 2014 12:26pm
Quoting bala5855
Hai...tk5... I use 5 mts charts in EU, GU, UC, EJ, GJ...5 pips guaranteed... 1. FRACTALS 2. 50 SMA / 5 EMA shift 2 3. MACD Rules : Buy : Fractals at bottom, Price close above 5 EMA Overall price above 50 SMA. Filter MACD above "0" Sell : VICE VERSA... See pic below: {image}
Hi Bala,
Can you please post your fractal indicators?
How do you manage your SL?
Thank you in advance.
  • #133
  • Dec 3, 2014 12:48pm Dec 3, 2014 12:48pm
Quoting Arkhro
{quote} Hi Bala, Can you please post your fractal indicators? How do you manage your SL? Thank you in advance.
Fractals can be found under Bill Williams indicators in MT4... but are not used in tk5's strategy.
  • #134
  • Dec 3, 2014 3:34pm Dec 3, 2014 3:34pm
Hi,

Is it possible to include an email alert for the 5 ema crossover indicator?

Thanks
  • #135
  • Dec 3, 2014 3:42pm Dec 3, 2014 3:42pm
Quoting kleybenny
Hi, Is it possible to include an email alert for the 5 ema crossover indicator? Thanks
Not in this century. Impossible!
  • #136
  • Dec 3, 2014 3:53pm Dec 3, 2014 3:53pm
I have been using this method (or something close to it) for all of this week. I have not lost a single trade yet, and am pushing about $100 a day. (Started trading with $20 as an experiment)
  • #137
  • Dec 3, 2014 4:38pm Dec 3, 2014 4:38pm
Quoting BrassDrummer
I have been using this method (or something close to it) for all of this week. I have not lost a single trade yet, and am pushing about $100 a day. (Started trading with $20 as an experiment)
Well done for your success but that level of profit suggests that you do not apply any conventional money management practice and are likely to fail in the mid-term, be warned.
  • #138
  • Dec 3, 2014 5:07pm Dec 3, 2014 5:07pm
Quoting shoot2scoot
{quote} Well done for your success but that level of profit suggests that you do not apply any conventional money management practice and are likely to fail in the mid-term, be warned.
I am using stops and loss management as well. I don't plan to lose more than 5% a day until I build the account to a reasonable level. Then I will adjust lower and start shooting for only 2-3% profits for the day, with 1-2% losses. Once I get there, I"ll hit either the 2-3% and stop, or the 1-2% Loss and stop.

My goal is to eventually get to where I need to make one or two trades a day, and be done.

My original plan was to make a strict 10% a day, again, just to grow the account to a more reasonable level) And double my money every 10 days.

So starting with $20, I'd make $2 a day, and then re-evaluate after 10 days. Next would be $40, making $4 a day, then $80, making $8 a day, etc.

But right now, I'm doing pure profits. If I Make a trade, and it is profitable, I'm adding that to my total. If I make another trade, and lose 5% of my total, I"m done for the day.

So if I have $100, and I make $50, My total is $150. If I lose $5 on my next trade, I'm out for the day.

Again, I wouldn't recommend percentages this high with an account this low, but I figure its the fastest way to grow a small account lol.
  • #139
  • Dec 3, 2014 6:17pm Dec 3, 2014 6:17pm
Just wanted to chime in as say I am forward testing this idea on my live account using tiny trades to target 5 to 10p each and will post results as I go.

So far I am 3 from 4 winners and pretty happy as this adds to my Daily Position trading system which is also doing well so its nice to have some play trades during the day that can win as a stand alone system as well.
Winners add to winning trades!
  • #140
  • Dec 3, 2014 6:21pm Dec 3, 2014 6:21pm
Quoting tk5
{quote} you should have entered from second red candle though.
Is that truly a good sell signal? RSI did not come down from the 70 line!
Winners add to winning trades!
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