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Simple, proven and profitable S/R system

  • #181
  • Apr 22, 2016 6:35am Apr 22, 2016 6:35am
Quoting slaughter28
HCooper, I've given this a crack on my live account. Pulled off a couple of small UJ trades on the M1 chart (refer my trade explorer if anyone wants to see entry and exits). This would definitely supplement my own scalping strategy as this would be perfect for ranging periods when my scalping strategy is not applicable. Will update as I get more trades going but have to go to bed now! Goodnight all and green pips to all.
Cool, nice to hear that, I'll take a look at your trades
  • #182
  • Apr 22, 2016 6:37am Apr 22, 2016 6:37am
Quoting iDaKpacaB4uK
Cooper, how long you are using this strategy? You have back test? From my own experience testing strategy I choose from 1,000 transactions for intraday trading.
Hello, I don't have the backtest as I trade the system manually. But I trade the system for a long time and as far as I can say, S/R trading brings me very nice stable profit in the long-term.
  • #183
  • Apr 22, 2016 6:40am Apr 22, 2016 6:40am
Quoting FX-Flux
Ive made an EA that utilises this EA, the video also shows you how it re-paints: https://www.youtube.com/watch?v=de45m0EknRA
Thanks for the video - good to see how the indicator works in that way. The indicator deletes all S/R zones that are not actual anymore and keeps the only S/R zones that are actual based on current market moves. So it is not possible to look in the history, but in real time, there are good opportunities with the indicator.
  • #184
  • Apr 22, 2016 6:42am Apr 22, 2016 6:42am
Quoting maxwell-eqtn
Looks Promising Cooper. I am still testing it. I use the channels to confirm entry......., avoid repainting issues of the SR. Somebody had introduced this indicator before, but many people were disappointed because of the repainting issue. However, your approach to wait for at least two bounces off the SR is a good and different aspect worth looking at. {image}
Nice trade! Yes, the indicator works with current market moves and draw actual S/R zones based on that. But as I wrote above, there are still good opportunities with the indicator.
  • #185
  • Apr 22, 2016 6:45am Apr 22, 2016 6:45am
Quoting kosmo
{quote} Very true. It's worth doing for another important reason, i.e. better money management. For example, my SL on the M30 is usually in the range of 30-40 pips, while a good M1 entry, where the SL doesn't exceed 6 pips, means that I can trade five times my usual lotsize without actually increasing the risk. So, in my case, the goal is to combine a setup on the M30 with a precise entry on the M1. Worked well for the GU short yesterday, and not so well for today's EU long, only because I moved the SL too soon as I knew Draghi was coming....
You are doing very good! absolutely agree with you and congrats It's all about managing risks and having a good probability of success.
  • #186
  • Apr 22, 2016 6:50am Apr 22, 2016 6:50am
I took fast scalp M1 trade on USD/JPY with tight S/L. The S/R zone that I traded was deleted by the indicator as we broke below, but the trade ended well. I set TP on the price level of previous swing high.

Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY_ecnM1.png Size: 36 KB
  • #187
  • Apr 22, 2016 1:36pm Apr 22, 2016 1:36pm
I hope you all had a good day of trading.
Know your edge and trade within it
  • #188
  • Apr 22, 2016 1:39pm Apr 22, 2016 1:39pm
Here was my AUDUSD short trades today:
2 trades each 30 pips
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDproM5_short_apr22.png Size: 39 KB
Know your edge and trade within it
  • #189
  • Apr 22, 2016 3:03pm Apr 22, 2016 3:03pm
Backtesting results from March 2015-May 2015

Good profit factor + nice return
Attached Image(s) (click to enlarge)
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So many in the Commercial section want to make me rich! :o
  • #190
  • Apr 22, 2016 3:51pm Apr 22, 2016 3:51pm
Quoting fxtrader29ca
Here was my AUDUSD short trades today: 2 trades each 30 pips {image}
Yes, I see it also.
Attached Image(s) (click to enlarge)
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  • #191
  • Apr 23, 2016 5:06am Apr 23, 2016 5:06am
Quoting fxtrader29ca
Here was my AUDUSD short trades today: 2 trades each 30 pips {image}
Very nice and accurate trades! Enjoy the weekend
  • #192
  • Apr 23, 2016 5:11am Apr 23, 2016 5:11am
Quoting FX-Flux
Backtesting results from March 2015-May 2015 Good profit factor + nice return {image} {image} {image}
Thanks for the backtest - looks promising. What rules did you test?

Also remember when you backtest EAs, modeling quality should be at least 90% and there should not be any mismatched charts errors.

To get 90% modeling quality, simply go to Tools –> History Center -> and download the data, then if you will start the backtest again, the modeling should be 90% and no mismatched charts errors.
  • #193
  • Apr 23, 2016 5:12am Apr 23, 2016 5:12am
Friends, have a great weekend ahead and let's meet here again on Monday to make some green pips
  • #194
  • Apr 23, 2016 7:50am Apr 23, 2016 7:50am
Quoting HCooper
{quote} Thanks for the backtest - looks promising. What rules did you test? Also remember when you backtest EAs, modeling quality should be at least 90% and there should not be any mismatched charts errors. To get 90% modeling quality, simply go to Tools > History Center -> and download the data, then if you will start the backtest again, the modeling should be 90% and no mismatched charts errors.
Oh i was using tick data, i just halted the backtest to upload some pictures of the report. it doesn't say 90% if you cancel half way.
So many in the Commercial section want to make me rich! :o
  • #195
  • Apr 23, 2016 10:04am Apr 23, 2016 10:04am
I tested the data from last week(Monday-Friday):
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Screen Shot 2016-04-23 at 16.03.51.png Size: 107 KB
Click to Enlarge Name: Screen Shot 2016-04-23 at 16.03.41.png Size: 208 KB
So many in the Commercial section want to make me rich! :o
  • #196
  • Apr 23, 2016 10:07am Apr 23, 2016 10:07am
I use CCI to confirm the direction and ATR to devise the TP and SL levels. I know you said to aim for the closest support/resistance but it would take too much effort this weekend (as the girlfriend shouts at me if she sees me coding)
So many in the Commercial section want to make me rich! :o
  • #197
  • Apr 23, 2016 10:33am Apr 23, 2016 10:33am
Video for your viewing pleasure:
https://www.youtube.com/watch?v=bEAa6eFahUE&feature=youtu.be

maybe you can catch the entry points n ting
So many in the Commercial section want to make me rich! :o
  • #198
  • Apr 23, 2016 3:52pm Apr 23, 2016 3:52pm
@FX-Flux

Your results look great ! Would you ever share this EA ?
  • #199
  • Apr 24, 2016 2:15am Apr 24, 2016 2:15am
Hi,
First thanks to HCooper for sharing your system, I have a question how the indicator calculates the levels. If you look to the current price level of AUDJPY on D1 you see a resistance level tested 3 times but the indicator indicates only untested resistance. Does someone know the reason?

Attached Image (click to enlarge)
Click to Enlarge Name: AUDJPY D1.jpg Size: 79 KB
  • #200
  • Apr 24, 2016 2:44am Apr 24, 2016 2:44am
Quoting FX-Flux
{quote} Oh i was using tick data, i just halted the backtest to upload some pictures of the report. it doesn't say 90% if you cancel half way.
Yep, correct, but still there were mismatched charts errors, which should be 0 - that's weird
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