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Easy system I trade each day

Quoting Mrbeach
I like your take on this system mrhigurashi. I just finish reading the entire NonLagDot thread and found this one. Looks good and today I entered a short on EUR/USD. Demo account for now. 2057594 {image}
Hi Mrbeach.

Yes, the original thread was good and gave me some good trading ideas but i never liked the whole basket trading thing. Also after the thread seemed to stagnate for many months i spent the time evolving the strategy into my own.

Can i ask about how you think of using the Fibonacci levels as TP targets? I think this new addition gives an even better edge to the system as well as making it even simpler to trade.
Current open trades:

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I think the Fibonacci levels are a good idea but I will need to forward test to see if they will hit the target. I was in the AUDJPY trade earlier but I closed it out when it hit the whole number and couldn't push through. I see it is going up now. Oh well
mrhigurashi are you live trading or demo trading now? Were you up from the last NonLagDot thread?
Quoting Mrbeach
mrhigurashi are you live trading or demo trading now? Were you up from the last NonLagDot thread?
I trade live but with this week being the U.S election im taking the time to have a go on a demo with the Fib level targets. Hopefully by next week every thing will settle down and i can get back to trading live again.

Sorry, didnt get the second question? You mean was i profitable?
Quoting mrhigurashi
{quote} I trade live but with this week being the U.S election im taking the time to have a go on a demo with the Fib level targets. Hopefully by next week every thing will settle down and i can get back to trading live again. Sorry, didnt get the second question? You mean was i profitable?
Hi mrhigurashi

thanks very much for your system. i am trading live and i lost lot of money on GBP crashes last month. i am new to forex and i started again to recover by opeing 0.01 lot. I just tested your system on AUDJPY and i TP at 10 points only as my daily plan is 50 to 100 pips daily from different pairs. so your system was succesfull so far and i closed my trade with 10 points profit in AUDJPY (i entered at 80.09 and out at 80.20). i am still bleeding psychlogically and rebuliding my confidence slowly. so 10 pips per trade is my current goals.

could u elaborate more on your TP golden line ? thanks very much
Quoting Hero35
{quote} Hi mrhigurashi thanks very much for your system. i am trading live and i lost lot of money on GBP crashes last month. i am new to forex and i started again to recover by opeing 0.01 lot. I just tested your system on AUDJPY and i TP at 10 points only as my daily plan is 50 to 100 pips daily from different pairs. so your system was succesfull so far and i closed my trade with 10 points profit in AUDJPY (i entered at 80.09 and out at 80.20). i am still bleeding psychlogically and rebuliding my confidence slowly. so 10 pips per trade is my current...
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I'm very sorry to hear of your loss last month with GBPUSD (I presume). I can speak from personal experience that it takes time to rebuild confidence. For what it's worth do a lot of testing before putting your own money on the line. Also be very comfortable with risk management calculations to limit any losses. I stick to 1% or less of my available margin as my maximum loss. Others have different principles.
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I was curious, so I back tested (in MT4 on $10,000 demo account) the original strategy on this thread (to be honest my version) over October 2016 (buy when above SMA(20) on 15 mins and sell when below SMA(20) on 15 mins all trading on Tokyo session; stop losses based on ATR(14) on 4 hours; take profit set to 1.5 times stop loss). I've attached the results.
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Quoting Hero35
{quote} Hi mrhigurashi thanks very much for your system. i am trading live and i lost lot of money on GBP crashes last month. i am new to forex and i started again to recover by opeing 0.01 lot. I just tested your system on AUDJPY and i TP at 10 points only as my daily plan is 50 to 100 pips daily from different pairs. so your system was succesfull so far and i closed my trade with 10 points profit in AUDJPY (i entered at 80.09 and out at 80.20). i am still bleeding psychlogically and rebuliding my confidence slowly. so 10 pips per trade is my current...
Hi Hero,

That sucks, ive seen guys blow 10s of thousands and its not good.

As for the TP of the original method. So i would place the sweetspots ind on the chart with a nice round number such as 200 or 250. Then when in a trade that is positive i would manually move the SL to trail the price each time a level is broken. Below is a pic with and example. However, i have since been looking at a tighter SL or fixed TP, thus i am currently working on the new fixed TP with Fibonacci extension levels as the target. SO far results seem good but will give it a month or so on a live account before i will be comfortable to endorse it. The below shows trailing the order with sweetspot levels and also fixed price TP using fib levels on the same order to compare. The thing to remember is sweet spot trailing SL works great in strong trends but fails in ranges or weak trends. The Fib level Fixed TP works well in both conditions but may mean missing out on a lot of pips in a strong trend.

SweetSpots Trailing SL:
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Fib Level Fixed TP:
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So far EURUSD and GBPUSD Fib targets hit.

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Hi mrhigurashi,

Thank you for sharing this system - I tried it out for a couple days and found it to have a very good win rate so far (using a much smaller TP and SL).
Sorry if I missed this in one of the previous replies but could you please tell us how long you have actually been trading this system and a rough estimate of many pips you average a month on it with your TP and SL boundaries?
GBPUSD second fib target 423.6 hit.

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thanks very much guys
i can see good one rate in this system. but for today and tomorrow i suggest to filter the result our as US election noise . i am looking for a long term system not somthing which will be supported by news. so far your systemt look excelelnt with tight TP . could you share some hints of the minimum TP and how you can use sweet spot . i am sorry i couldn't understand u before
Quoting Hero35
thanks very much guys i can see good one rate in this system. but for today and tomorrow i suggest to filter the result our as US election noise . i am looking for a long term system not somthing which will be supported by news. so far your systemt look excelelnt with tight TP . could you share some hints of the minimum TP and how you can use sweet spot . i am sorry i couldn't understand u before
How about this? You basically move the SL up as the price moves up. When a price level indicated by the Sweetspots indicator is broken you move the SL up so trail it.

In the pic below, we enter the order. Price moves up and breaks the 1.10250 level so we move the Sl to 1.10000.
Next price continues up, when it breaks the 1.10500 level we move the SL up to the 1.10250 level and so on and so forth until price eventually comes down and hits the trailing SL.

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Quoting mrhigurashi
{quote} How about this? You basically move the SL up as the price moves up. When a price level indicated by the Sweetspots indicator is broken you move the SL up so trail it. In the pic below, we enter the order. Price moves up and breaks the 1.10250 level so we move the Sl to 1.10000. Next price continues up, when it breaks the 1.10500 level we move the SL up to the 1.10250 level and so on and so forth until price eventually comes down and hits the trailing SL. {image}

thanks for your clarification, normlly when u saw the arrow you enter right away or you wait? and if you wait you may miss some pips?
Quoting Hero35
{quote} thanks for your clarification, normlly when u saw the arrow you enter right away or you wait? and if you wait you may miss some pips?
I only place pending orders about 1-2 pips away depending on spread of the pair. it could be a reversal and not a pull back so i only use pending orders.
My first trade using Higurashi-san's system on D1:

  1. I was late to the draw as I did my scan at EOD
  2. Very small size as the stop loss was not something I am used to
  3. Friday is Vet Day in the US, Remembrance Day in Canada - supposed to be slow day
  4. And I am going to take early profits and go flat for the weekend

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Hi Snoop... looks like you might be bugging out of your trade a bit to soon per Hiqurashi's post #113 on Nov 7th
I like using his method on the dailey also. I use only the larger whole numbers though. 100, 200, 300, and so on.
Keeps the screen cleaner and makes more sense on the higher time frame.
Your trade broke the 1.77000 sweetspot so you could move move your stop loss up to 1.76000 instead of just closing flat.
Still good profit and also a chance for the trade to continue. Also I like your TP because of the weekly price action around mid to late September.
Just sharing some thoughts. Good trading.
I get exercise just pushing my luck
Quoting cce
Hi Snoop... looks like you might be bugging out of your trade a bit to soon per Hiqurashi's post #113 on Nov 7th I like using his method on the dailey also. I use only the larger whole numbers though. 100, 200, 300, and so on. Keeps the screen cleaner and makes more sense on the higher time frame. Your trade broke the 1.77000 sweetspot so you could move move your stop loss up to 1.76000 instead of just closing flat. Still good profit and also a chance for the trade to continue. Also I like your TP because of the weekly price action around mid to...
Hey CCE. Thanks for the comments on the thread.

As you say with the bigger whole numbers i agree on the bigger time frames. Only only the smaller time frames would i use the smaller numbers.
Quoting cce
Hi Snoop... looks like you might be bugging out of your trade a bit to soon per Hiqurashi's post #113 on Nov 7th I like using his method on the dailey also. I use only the larger whole numbers though. 100, 200, 300, and so on. Keeps the screen cleaner and makes more sense on the higher time frame. Your trade broke the 1.77000 sweetspot so you could move move your stop loss up to 1.76000 instead of just closing flat. Still good profit and also a chance for the trade to continue. Also I like your TP because of the weekly price action around mid to...
Yeap. Way too soon. Lack of patience.
As Louis IV used to say: C'est toujous l'impatience de gagner qui fait perdre.
  • Post #120
  • Quote
  • Edited Nov 14, 2016 4:49am Nov 13, 2016 11:23pm | Edited Nov 14, 2016 4:49am
Hi all,

Just some nice set up examples of trades using the Fibonacci level for TP target from this morning.

"Uploaded again showing entry for those who may have been confused or unsure".
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