Doublecrossed

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Biaxident
71
Biaxident  
Files:
dblcrssd.jpg 341 kb
Biaxident
71
Biaxident  

G/U Daily

Pulling monster pips from the GBP/USD Daily using re-cross exits

Files:
gudaily.jpg 278 kb
cjd
29
cjd  

question

Hi . I like your trading system. Simple is always better. Can you explain this sentence>>*If BOTH lines re-cross, trade is invalid. Exit immediately and move on to the next setup.* Because both lines will always recross back to other direction. Also is that a 200 ma on your chart for the trend? And the standard question, How many pips do you average per week with it. I am going to trade it but I scalp and will be using the 5 min chart. Cheers! CJD

Biaxident
71
Biaxident  

Further explanation

cjd:
Hi . I like your trading system. Simple is always better. Can you explain this sentence>>*If BOTH lines re-cross, trade is invalid. Exit immediately and move on to the next setup.* Because both lines will always recross back to other direction. Also is that a 200 ma on your chart for the trend? And the standard question, How many pips do you average per week with it. I am going to trade it but I scalp and will be using the 5 min chart. Cheers! CJD

Hi-- Yes, simple works best for me. If both lines re-cross before the profit target is reached I exit.The crosses are the trigger to enter and the "last chance" trigger to exit. Those are the rules, I don't break them. I usually look for this setup on higher tf's and use wide targets. On daily tf for instance I may be in a trade for weeks adding more lots at every pullback/correction. Yes that is a 200 ma for direction. I don't trade this strategy exclusively. I am an "old school" manual trader constantly monitoring charts and looking for any one of a number of setups/patterns/strategies that I use. I do not keep track of how much $$$ each one has netted. But I have been using this for years because it works very well for me. It's consistent over time. Works as well now as it did years ago and so simple on longer tf's. On shorter tf's for scalping it can be a workout and you can get whipped around a bit but stick to trades in the direction of the prevailing trend and you will come out on top. Paper trade it till you get used to it or use micro lots. Best of luck !!

cosmo
12
cosmo  

Simple Setup

Thanks for your very interesting and simple setup, i've been trading for a while but after adding this to the 4Hr AUDUSD it looks so simple and stress free to trade. I'm looking forward to trying it, thanks for sharing.

Biaxident
71
Biaxident  

Doublecross

cosmo:
Thanks for your very interesting and simple setup, i've been trading for a while but after adding this to the 4Hr AUDUSD it looks so simple and stress free to trade. I'm looking forward to trying it, thanks for sharing.

You are quite welcome. I am glad some are finding it useful. Set it up on daily charts of trending pairs and you will be in trades 24/7/365. Trades off of the daily tf can last for weeks. Just monitor once a day and add lots during pullbacks. Easy, and when you catch a good trend it's off to the races. Trading it this way won't put pips into your account daily but every so often there will be a massive "pip dump" into your account. .

Now, if a kind coder would whip this thing into an EA w/alert, the monitoring of trades(on the daily tf) could be cut down to once a week and the monitoring of all other pairs would be much easier. Plus some backtesting could be done in order to refine it for scalping. If a coder could just set it up to open and close trades and alert(audio) at the crosses. This would be a great start to automating this great tool. I am going to look into coding it myself when i get the time.

All the best--

haveone2
20
haveone2  
biaxident:

Trading Rules:

*Trades are taken on bar close only*

Thanks for sharing this simple system.

Sorry for the dumb question. How does one go about taking trades on bar close? On MT4, do you have the order screen open and hit the market execution at the bar expiration?

Thanks.

Biaxident
71
Biaxident  
haveone2:
Thanks for sharing this simple system.

Sorry for the dumb question. How does one go about taking trades on bar close? On MT4, do you have the order screen open and hit the market execution at the bar expiration?

Thanks.

Hi-- You are welcome. To answer your question----Yes, if you take the statement literally. But it doesn't mean you have to catch it at exactly the bar close price. It simply means we need to wait for the bar to close for the cross to lock in. If you are 2 hrs into a 4 hr bar and get a double cross up it is not a lock and you don't want to enter long here since over the final 2 hours of the bar the cross may reverse and the bar close crossed down. So we "take the signal" on bar close and not necessarily "enter" on bar close. As a matter of fact if you know the pair you are trading and how it moves you can usually get a better price than the bar close price.

I've started working on an EA . I will be very surprised if I can pull this off. I'm so freaking confused.....and I'm using an EA builder !!! LOL Man my brain is wired for trading not programming. Wish me luck-- I'm gonna need it !!!

Biaxident
71
Biaxident  

Ea

Ok- I started the ea in a free ea builder which turned out to be a demo that only lets me save files in ex.4 so I can't see or post the script. Can anyone tell me if this would be the right layout for this ea??? In the tester it only places sell orders.

I know.....I suck. Noob with an EA builder still can't get it right. All you "REAL" coders out there feel free to flame away. I'm donning my flame retardant suit.

Files:
ea.jpg 288 kb
a1ra
44
a1ra  

Try this, hope its meet your requirement

Updated ...

Files:
ma_macd.mq4 16 kb
Biaxident
71
Biaxident  

a1ra YOU ROCK !!!

a1ra:
Try this, hope its meet your requirement

Thank you a1ra so much for your help. In this configuration can the EA be set to simply exit and re-enter at each doublecross? I tried turning off tp and sl but it won't trade at all then.

Also would it be possible to incorporate the attached MACD in place of the one currently used? Or will it just use whatever MACD is attached to the chart? The 2 line MACD is much easier to read at a glance.

What I would like to achieve is an EA that on longer tf's(daily and up) can be set to exit and re-enter at each cross only, without any risk or mm restrictions and on lower tf's can be used with risk, mm, stops, tp and trailing stops.

THANK YOU again for your help a1ra !!!

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