No Name Trading System
No Name Trading System - Cont'd
Hello Again,
I was not able to upload the screen-shoots in the previous post due to limitations on the number of files and so I am adding to the previous post with this one.
Below you will find screen-shots of the three types of setups mentioned.
1) Fresh Cross
2) Fast Retracement
3) Slow Retracement
Cheers,
6-21-2010 Trade
Greetings Members,
I am posting the trade I took today.
Currency pair: EURUSD
Entry time-frame: 1Hr
Trade type: Trend continuation on 1H
Trade Setup: Slow retracement
Entry price: 1.23819
Exit price: 1.23150 (projected Fibonacci support)
Stoploss: 1.24150
Profit: 66.9 Pips
Profit: $6690
Cheers,
Thanks Pip for the strategy
pip
please tell us the Success % and best on which x-pair -- after you try it for a period, thanks
Don't have to wait 
pip please tell us the Success % and best on which x-pair -- after you try it for a period, thanks
Hello xx3xxx,
I have good news for you, you don't have to wait for the information 
; just click on the MT4stats link in my signature and you will be transported to my performance history using this strategy. If you click on the analysis tab you should be able to see various statistics including best pairs, etc.
Cheers,
Thanks Pip for the strategy
You are quite welcome Aldop.
Cheers,
thanks , look quite real to me ( no offense )
good that if you can post some ENTRY (i.e. just opened) and chart during that moment over here, i.e. transaction not CLOSE yet
-- as those site with various EA lack of this STILL OPEN transaction information on their statement
just note that, usually market conditions change every 2 months, I think JUNE has just start the Marathon type of bundle candles -- quite new and quite slow -- I am still quite fond of using my own template and optimise it every now ant then, but interested to see yours OPENED transaction too -- somehow , I am not into EURUSD
thanks , look quite real to me ( no offense )
good that if you can post some ENTRY (i.e. just opened) and chart during that moment over here, i.e. transaction not CLOSE yet
-- as those site with various EA lack of this STILL OPEN transaction information on their statement
just note that, usually market conditions change every 2 months, I think JUNE has just start the Marathon type of bundle candles -- quite new and quite slow -- I am still quite fond of using my own template and optimise it every now ant then, but interested to see yours OPENED transaction too -- somehow , I am not into EURUSDHi again,
Please note that I trade this strategy manually. No EA involved at all.
The trade I posted has actually closed and the stats I listed above were after I closed the trade. I do not currently have any open trades. Those would show in my stats page too if i had any open.
Not all trades are winners, and you can view those in my stats page as well. I plan on posting my trades here (winners or losers) too.
If you try this strategy I would be elated if you could post your trades too. This also applies to all who attempt this strategy.
To your success,
Pip
I had downloaded your indicator, How to merge with two indicator ( MACD and Cycle GJH4 ) in the same window, and also can you give more details, please
bye
AlwinHello Alwin,
Simply drag and drop the cycle indicator on-top of the MACD indicator instead of dropping it on the chart.
which part of the strategy do you need more details on?
Cheers,
Hi Pip
I had downloaded your indicator, How to merge with two indicator ( MACD and Cycle GJH4 ) in the same window, projected Fibonacci support indicator and also can you give more details,When I use your mq4 indicator, my MT4 get very slow, so kindly advice and can you give clear explanation of technicaly, please
bye
Alwin
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Greetings fellow traders,
Today I would like to share with you a trading system I developed a while back. I have been using this method since October 2009 with consistent profits. System performance can be viewed at my MT4stats page by clicking on the link in my signature below
I will present to you this system in the simplest format possible so that it is easy to understand and will include tips that will help in your implementation.
In short, the system consists of four indicators and those are:
1) Triggerlines2 (20,5,300)
2) Close Line (20,5,300)
3) Zerolag MACD (12,26,9)
4) Cycle_GJH4
The system utilizes 3 time frames to represent short, medium and long-term trends. The time frame of the trend could by anything you are comfortable trading; the only rule is that each progressively higher frame needs to be at least 4 times the prior frame. Personally I use 1Hr, 4Hr, and Daily charts. Since I am not able to be in front of the screen at all times, I have chosen time-frames that will allow me to swing trade the market at a comfortable pace.
I use the long-term time-frame to determine trends, the medium-term time-frame to determine setups, and short-term time-frame to determine entry.
Types of Trades:
1) Trend Trade: a market position in the same direction of the long-term and medium-term trends; position taken at the start of the trend
2) Trend Continuation Trade: a market position in the same direction of the long-term and medium-term trend; position taken after a corrective move or counter-trend to the main trend exhausts itself.
3) Counter-trend Trade: a market position in the opposite direction of the long-term trend. Utilized short-term and medium-term trends to trade; position taken at the start of the corrective move or counter-trend on the short-term time-frame.
Market Evaluation:
The first thing I do is determine long-term trend using the Daily chart. I am looking for descending/ascending Triggerlines, with bar closes below/above the fast Triggerline. In addition, I am looking for descending/ascending Zerolag MACD and Cycle_GJH4. This tells me that a trend has been established.
Next, I evaluate the medium-term trend on the 4H chart. Initially I determine whether the indicators on this time-frame are in agreement with the longer time-frame or in contradiction. If medium trend is in synchrony with the long-term trend I only trade trend and trend continuation trades. If medium trend is not in synchrony with the long-term trend, I then either stay out of the market, or capitalize on counter-trend setups.
Once the state of trend on the long-term and the medium-term is determined, I use the 1Hr time-frame to time my entry in the desired direction of the trade. This means I attempt to obtain best entry price by timing the tops and bottoms.
Types of Setups:
Whether I am trading trend, trend continuation or counter-trend trades, I always look for 3 setups to trade and those are:
1) Fresh Cross: (Trend Trade)
a. Cross on second highest time-frame in same direction of trend on higher time frame
b. All indicators are changing directions on the same bar (i.e. fresh cross or turns on all indicators)
c. Cross must occur on previous bar or higher (bar 1+) and not current bar ( bar 0)
d. Entry is on bar 0 once the cross has been established.
2) Fast Retracement (Trend Continuation Trade)
a. Triggerlines are well separated with steep angle of separation.
b. Zerolag MACD Fast line is well separated from Slow line
c. Price retraces main move sharply in the same candle and in opposite direction of trend.
d. Enter in direction of main trend
e. This is the only trade that takes place on current bar or bar 0 in real-time
f. Will require you to be in front of the screen to catch it
3) Slow Retracement (Best Setup)
a. Triggerlines are well separated with steep angle of separation.
b. Zerolag MACD Fast line is well separated from Slow line
c. Price retraces main move over several bars and in opposite direction of trend
d. Enter in direction of main trend
e. Entry is on the open of bar 0 once bar 1 retraces to touch the fast Triggerline
Important Points to Understand:
1) Trade setups should be used as guidelines. As you practice and gain experience you will be able to determine the strength of the setup.
2) Zerolag MACD and Cycle_GJH4 indicators are susceptible to divergence (i.e., they will go one way and price will go another way)
3) If observation 2 above occurs on the long-term time-frame, stay out of the market or take counter-trend trades.
4) ZerloLag MACD will always respond first to changing market conditions and thus is more susceptible to whipsaw/fake-outs as time-frame decreases.
5) Triggerlines will respond second (most reliable)
6) Cycle_GJH4 will respond third
7) Triggerline and Zerolag MACD separation, the wider and steeper the slope, the stronger the momentum and trend
8) Cycle_GJH4, the steeper the slope, the stronger the trend.
Money Management:
Personally, I only trade at 1:5 leverage. This allows me to risk up to 2% of my trading capital without significant loss to my account. Furthermore, I average cost my entry to allow greater room for entry errors. For example, with a $10,000 account, I will only trade 0.5 lots total at any given trade. I enter the market with 0.25 lots and place a limit order 20 pips away from previous order. The stop-loss for both orders would be the same and set at 2% of account balance (which would be $200 in this case). My take profit is usually based on previous highs/lows or support/resistance levels. Furthermore, when entering a trade, I look for at least 1:2 risk to reward ratio.
Exit Strategies:
Specifying a single exit strategy I consider is a futile exercise and thus I utilize an arsenal of exit methods. Each method is used at a specific situation which only I deem is appropriate depending on my position, time of day, time of week, news releases, etc. Only you can determine which method suites your trading most appropriately. Below is a list of those methods:
1) Set account %
2) Set point target
3) Time of day or week (e.g. close at end of day or close at end of week)
4) Previous Highs/Lows
5) Trend-line support/resistance
6) Fibonacci support/resistance
7) Reverse signal
8) News release time
Please note that this list is not exhaustive, but those are the methods that I employ.
Important Trading Tips:
1) Resist the urge to catch bottoms and tops
2) A safer entry is on pull back or hesitation points
3) Do not trade on anticipation, only facts
4) Indicators on higher time-frames supersede indicators on lower time-frames
5) Do not over-trade, wait for setups, you may not, and most likely will not, have a trade everyday.
Further Development:
I have recently been tinkering with the application of Fibonacci support and resistance levels in a whole new way to complement this strategy. More details on this development can be found here in this forum, but this is a separate discussion.
I hope you found this post easy to understand and follow. If you find any point unclear or require further expansion on the subject please do not hesitate to leave your comments with your questions and I will be happy to revise the post to address them.
Happy trading.
Cheers,
Update 6/23/2010 - uploaded one missing indicator (LSMA)
Update 11/29/2010 - added potential exit strategies
P.S. This post serves the purpose of helping members of this forum to develop their knowledge base and to test new strategies that may fit their trading style. You are free to use this strategy for your own personal use but you are not, under any circumstances, are allowed to hijack or re-package and commercialize or market this strategy for your own gain.