~ Old Dog / New Tricks ~ - page 5
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Interesting, Like it. Will give it a go.
About an EA, I find if you get consistent wins at 86%-100% the EA is good but may need better rules or additional filter. If not this then it is account MM and exposure leading to high DD and eventual account blowup. Please let me know more on this, if I could help I will.
Here is a screenshot of my chart setup slightly modified from your template.
I can't say whether or not it helps improve it or not. I added Stoch and DAMIANI to show when not to trade, oh and PSAR. If you decide to use any modifications in the EA I would recommend using these. I would not generally use DAMIANI myself though because it can keep you out of a lot of potential profit making trades but seems to be OK for this. I am not sure what times to trade this, Asian session only so early hours GMT, waiting for a breakout? If I made a simple system overcomplicated by doing this sorry!
Ignore the arrows on the chart they mean nothing much but I did put them there for a possible trade entry before the upmove.
If you designed the EA a certain way it could make up to 600 pips daily.
Can you put your statement here please ?
Don't want to register on another another another forum !
Thanks !
Can you put your statement here please ?
Don't want to register on another another another forum !
Thanks !lol, sure...
However, most traders don't follow the market as much as I do, so more realistic stats can be found here: Live Trading Sessions
For everyone that has been following this thread, I've updated/improved the system and we are hosting 5 currency pairs in 2 time frames here:
Signals Lounge
If you start at the beginning of the thread and read the first few posts it will make sense. We removed the "boxes" and used the "floating pivot" as a filter. The indicators automatically generate buy/sell signals now. (yes we changed the entry rules a bit to improve results based on forward & back testing). We even provided a free Trade Messenger to help you recieve the alerts in real-time...
Interesting, Like it. Will give it a go. About an EA, I find if you get consistent wins at 86%-100% the EA is good but may need better rules or additional filter. If not this then it is account MM and exposure leading to high DD and eventual account blowup. Please let me know more on this, if I could help I will.
Sorry, I just realized that I missed your question/comment. Yes, many tweaks have been made to improve risk/reward. I now call the system "X Trend". I still can't get an EA to work consistantly, but still working on it. I need a "common sense" filter, lol... This movie explains how the system works:
Signals Lounge Support
I host the indicators and they can be used for free here:
Signals Lounge
Let me know if you have any questions...
X Trend Movie
Hello,
I just watched the movie and have a couple of questions/comments:
1) In the exercise example, where we have to figure out if it's a confirmed signal, the "confirmation candle" appears to have it's wick above the blue line. The wick before it is fully below the blue line, but it is not "full red"; it's a light red (maybe that counts??) However, this is called a confirmed signal. Can you clarify?
2) The RSI is not red within 1 bar from the confirmation candle, at least that's what I see. The RSI is red within 1 candle from the "not fully red" bar to the left however.
From what is described as a confirmed signal, it seems this would NOT be a confirmation per details above. Please clarify if possible the confusion I have based on the example in the movie. It seems there would be confirmation if you're using that "not fully red" candle, but I thought it had to be "fully red"?
Just trying to understand as best I can ...thank you.
So this is a paid method ?
What is meant by hosting the indicators ?
Just dropped in and saw your "movie".... reminded me of something.
Browsed ur lounge and some system looks very familiar especially to one of mine.
Interesting .....good work
Hello,
I just watched the movie and have a couple of questions/comments:
1) In the exercise example, where we have to figure out if it's a confirmed signal, the "confirmation candle" appears to have it's wick above the blue line. The wick before it is fully below the blue line, but it is not "full red"; it's a light red (maybe that counts??) However, this is called a confirmed signal. Can you clarify?
2) The RSI is not red within 1 bar from the confirmation candle, at least that's what I see. The RSI is red within 1 candle from the "not fully red" bar to the left however.
From what is described as a confirmed signal, it seems this would NOT be a confirmation per details above. Please clarify if possible the confusion I have based on the example in the movie. It seems there would be confirmation if you're using that "not fully red" candle, but I thought it had to be "fully red"?
Just trying to understand as best I can ...thank you.Yes, if I understand your question: after a trade alert (arrow with a price label), then you need 2 things to happen within 10 candles, (1) a red or green rsi (2) a full red or green candle to close. They do NOT have to happen at the exact same time. It's better if they do, but sometimes the full red or green candle will paint 1 or 2 candles after the rsi confirmation. If that doesn't make sense let me know and I will try to explain better...
Also, consider risk/reward: how close is your entry to the blue line? and how large is your "realistic" target? Meaning: how large is your stop in relation to your target. Try to maintain at least a 1:1.5ish ratio... Hope that helps...
What is meant by hosting the indicators ?
Just dropped in and saw your "movie".... reminded me of something.
Browsed ur lounge and some system looks very familiar especially to one of mine.
Interesting .....good workGood question, here is one of our "hosted indicators" or as we call them, our "Live Web Charts"...
Signals Lounge
The basic idea: we host live charts that can be quickly scanned. Most of us lack that ability or time to efficiently scan the entire market, in multiple time frames across multiple currency pairs. To be honest, our "Live Web Charts" started out as a simple "sales gimmick", but I can't trade without them now. I rarely load a chart in MT4 now. I just scan the web charts. We provide our members with templates to load the same charts locally when needed (usually after taking a trade), but they use the web chart to constantly scan over 150 live charts. We created interactive slideshows that allow our members to scan through all 150 charts in about 5min (or faster if you can "speed chart read", lol...)...