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Indicator Based Systems with good profit

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avrahambr
13
avrahambr 2016.11.10 17:13 

Hi All!

I need your help about trading with indicators. Many indicators seem to be very profitable when you see them in charts but from my short experience I am afraid from some problems, therefore I would like to ask you how exactly you are trading it.

My friend found some good indicators and we started trading with them. Many times the price is going on the expected direction and making nice profit. Then suddenly reverses and a great part of the profit vanishes. How can I avoid it? How are you working- are you setting Stop Loss and Take Profit. Where are you setting them? Are you looking at support and ressistance levels? Fibo? Pivot Points? Anything else that I should know as a novice trader?

There is another way to ask my question: Some professional traders write that when they traded with indicators they didn't succeed well or didn't succeed at all, and since they started trading using price action or candlestick patterns they make nice profit.

Is there anyone who can defend indicators from this attack?

Is there any indicator-based system that makes good profit?

What do I mean by saying "good profit"?

For example: A system, not too complex, for trading about 20 pairs, looking at the charts once a day. The system will make 20 trades per month, reward to risk 2:1, success rate 60-70%. Not too much, but if I risk 2% of my account per trade I can make a profit of 30-40% per month, which is a nice way to turn a thousand dollars into million in 20-30 months. Not bad at all.

Since I am novice, please answer me as more detailed as can be, and I thank you very much.

 

Sergey Golubev
Moderator
93726
Sergey Golubev 2016.11.10 18:29  

Forum on trading, automated trading systems and testing trading strategies

GBPUSD Buy/Selll

Sergey Golubev, 2013.07.05 13:41

If you new to forex and/or Metatrader 5 so you can start with this thread : How to Start with MT5, a summary !

As to templates and systems so you can see :

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ASCTREND SYSTEM

The Theory.

Manual Trading statements
Second version of this manual trading system and for now - asctrend indicator together with NRTR indicator

First version of AsctrendND EA.
Next version of AsctrendND EA (verion 1.02) with TrendStrength filter added.
BRAINTRADING SYSTEM

How To Create Your Own Manual Trading Signal System Based On Indicators From MT5 CodeBase - Instruction For Non-Programmers

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PriceChannel Parabolic system

PriceChannel Parabolic system basic edition

  • indicators and template to download for black background (first post of this thread)
  • PriceChannel indicator is on CodeBase here, same for white background, how to install
  • Clock indicator to be used with this trading system - Indicator displays three variants of time in the chart: local, server and GMT
Latest version of the system with latest EAs to download
How to trade
The settingas for EAs: optimization and backtesting
Trading examples
GoMarkets broker, initial deposit is 1,000
Alpari UK broker initial deposit is 1,000
RoboForex broker initial deposit is 1,000

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Market Condition Evaluation

story/thread was started from here/different thread

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Market condition
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3 Stoch MaFibo trading system for M5 and M1 timeframe
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PriceChannel ColorPar Ichi system.

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MaksiGen trading system
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Merrill's patterns are on this page.

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Divergence - how to use, explanation and where to read about.

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Scalp_net trading system
  • template/indicators and how to use are on this comment.
  • scalp_net_v132_tf EA is on this post with optimization results/settings for EURUSD M5 timeframe
  • possible settings #1 for this EA for EURUSD M5 timeframe with backtesting results is on this post.
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MTF systems

more to follow ...

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avrahambr
13
avrahambr 2016.11.11 09:57  
Sergey Golubev:

Thank you very much. However, it seems that these are complicated system, or may I be mistaken.

And- How can I use the MT5- My broker uses MT4.

Again, thanks.

Sergey Golubev
Moderator
93726
Sergey Golubev 2016.11.11 10:04  
avrahambr:

Thank you very much. However, it seems that these are complicated system, or may I be mistaken.

And- How can I use the MT5- My broker uses MT4.

Again, thanks.

Most those systems are very simple ones: dot or arrow to open sell or buy trade with some indicators as the filters (there is the term for such systems: Signal systems).
Some systems are very famous popular systems (and they are proven to be profitable) which were transfered from MT4 to MT5.
And those systems are very good for newbies; professional traders are using those systems to recover the deposit after losses for example.

As to MT5 so download MT5 (see the links below this page), click on open account on MT5 on the left, and open an account (you can select the broker by typing the broker's name in some place on 'Open Account' window).
Michael Maggi
1403
Michael Maggi 2016.11.14 10:09  

You need to find out what kind of trader you are... have you been trading on a DEMO account?  You really need to start there and see how the different trading styles work and then find a reliable indicator that does not repaint.  When you look at some indicators they have perfect records in the past because the indicator adjusts so that all the profits show and all the losses disappear.

You can't get any perfect indicator, they all have losses sometimes.  The best is if you look to see what the real entry and exit is with these indicators (or any EA for that matter) and see if they really generate tradeable signals after your slippage and spread.

One way of checking indicators is to use one or two commodities or currency pairs and make 2 or 3 charts for each CFD or pair.  Then put different indicators on each chart so you can compare them.

Another way is check out the trading records of people who post their trades in their profile.  You can get an idea of some of the strategies and indicators.

Don't start by spending a lot of money on indicators.

I trade on price action--Renko charts.  I sometimes use indicators as place indicators but the strategy is the Renko bars themselves along with daily charts with some trading experience.

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