Share your BEST entry (and exit) decision!

 

If you have a way to identify when to enter trades to capture big moves that can be automated I would like to know about it. I know this sounds only typical, everyone wants to know this don't they? Well sure every good trade starts with a good entry. I want to invite people who think their trading can't be automated and has to be discretionary to give me their best entry signals too. I'm not looking for the whole strategy just the best set of entry rules. The reason I ask this is that what I am working with wins everything the market throws at it EXCEPT big moves. The key therefore to having it all is this last piece of the puzzle. Knowing when to enter to capture big moves will give me the win on everything else AND potentially the capture of the big move itself (based on exiting right), but for the moment all I want to do is know when to enter to capture a big move so I can make that an exclusionary parameter in a counter-intuitive strategy. I wouldn't mind some healthy discussion of what signals enter best too. The goal is the enter to capture ONLY big moves.

If you can do this, do you have the code for it in mq4 that will execute it in an EA in the form of...

if (this condition is met with whatever indicators) ;

enter trade;

Please would you post the code . ..or describe the rules.

 

old one..

see the below on 5M and 15M

Buy

stochastic 14,5,5 -- below20

MacdHistogram closes bar higher then previous bar

RSI 14 -- below 50

Sell

is the reverse of the above..

 

is it possible to program in an EA so that a signal generated off of a longer period say 4hour is used when the EA is still running on a 5 min chart?

the success of implementing this in my EA depends on the signal being used to alter the order placed at that point in time.

Unfortunately I still am quite limited in my programming skill. I appreciate it if you would post appropriate code in mq4 if you can so I can insert it and test it to see which works best. I think I can get it inserted ok, might need a little help with that still

 
drgoodvibe:
old one..

see the below on 5M and 15M

Buy

stochastic 14,5,5 -- below20

MacdHistogram closes bar higher then previous bar

RSI 14 -- below 50

Sell

is the reverse of the above..

i assume that the stochastic would be above 80 in the reverse? and the rsi above 50?

 

What do you consider a big move?

I look at daily to capture 200 + but hourly and smaller you are hit and miss for 100 + I have one on a 30 min that targets 40 pips with 1st half and lets the remainder ride for a day or more till either stopped out or reverse signal occurs. I have another that targets 50 pips on a 5 min and hits quite regularly with decent win loss ratio.

also how long are you willing to stay in a trade i.e. those daily moves sometimes require 2 plus days

its all relative to what is considered a big move.

 

Hi,

I don't know if what you want is achievable. Even on the longer time frames the indicators only point to a move that satisfies its parameters, if it's a big move or not, who's to know?

As an example: All your indicators line up and tell you to go short. At that point all you know is that: go short! Of course, once you get into the trade you realize it ended up being a very big trade. However, this knowledge is gained only in hindsight.

It's very hard, perhaps impossible, for an indicator to know - at the start - if a move is a 10 pip move, or a 100 pip move. You just go into the trade using established criteria and are pleasantly surprised when it does become very big.

moneyline

 

big move comes after a big eco-index-news

 

let's look at this from a more instance specific senario.

Is there a signal that would identify these specific time points?

these are the big ones to me

2006.01.06 15:30 -130 pips

2006.03.29 08:26 170 pips

2006.04.03 09:18 100 pips

What I'm trying to do and I don't know that it is possible is reduce the losses of an automated straddle strategy by not stradling when there's a good chance that range action will not retrace sufficient to close both sides of a trade. A straddle strategy works well in a channeling market but can't survive lack of retracement when price action moves away from the channel. A big move is any move sufficient to move the price action far enough away from the channel that it won't retrace to close the opposite side of the straddle and leave it hanging. How wide that channel is depends on the user's settings. It could be as little as 2 or 3 pips below the point of entry.

as to how long i'm willing to wait I should think about three or four days tops. Big move entries are points at which full retracement to those levels may take several days. But the real goal is to avoid opening the losing leg of a two sided position. It may never be possible to fully avoid this but I'm not looking for perfection just to avoid a greater percentage of the losing sides being entered to begin with. Now before you say, 'this sounds like a job for a stop loss', that's very possible IF there is a way to keep the stop loss from messing with all the winning orders which WILL retrace and close.

If I put the stop loss on everything it dramatically reduces the profitability of the orders which retrace and close. To make this work better I have to prevent the high probability losers from opening in the first place so that the majority of the winners can run without getting stopped out. how can a winner get stopped out you ask, well it can if it is going to win only based on a retracement and it moves to stop out before it turns around and goes to profitability. This happens in many cases, a large percent of the winners started as losers and turned around.

I am looking at other methods detecting and of closing out losing positions besides traditional stop losses. But my focus here is to prevent high probability losers from ever opening. I don't have to tip the scale too far before it will swing in my favor Every little shift toward profitability tips the scales.

 

Hi,

What currency and what time (EST, CET ?) for the posted trades?

moneyline

 

You asked very good question.

I can say that it is not easy.

I think this Nina's section is related to this sublect.

Of course it may be good to have some simple indicator which is telling me when (which time exactly) I can get 100 pips guaranteed once a week/month for example. But I think it is difficult.

As to my opinion so it should be trading system with several indicators. Besides the classical (standard) indicators may do it as well for H4 or D1 timeframes.

P.S. Please don't create many threads with the same subject.

 

Hi ND, me again.

In currency trader magazine they did backtest with ichimoku and paralel test with some other moving averages and they came to the point to say that ichimoku is to much laging.I have this curr.trader in my computer but i have to look in what number was that if you lie to read it before developing anything based on ichimoku.

About big moves : what is big move ? 1000 pips with 0.1 lot or maybe 50 or less pips with 2,3,5,10 lots

Reason: