MONEY MAKING manual trading system - page 24

New comment
 
Alanovic:
How much of the balance are you risking per trade? I set it to conservative i.e. when it hits the 30 pips SL only 2% is lost. So it would require a large number of consecutive losses to blow the account.

Is this what happened to your test?

Thanks

Alan

I has a SL of 15 pips, as I was trading 5 minutes. However, the EA opens 3 positions, so if all three lose that is quite a big loss to make up, and there are different tp targets for each position. What I found helped was to tighten the stop loss (10 pips) and use the trailing stop, breaking even for positions 2 and 3 when the first position takes its profit. As I said, though, I also closed positions when the price action seemed to get stuck at support or resistance. I think this combination could be successful.

 

indicators

p1253:
The indicator is from Elite Section I can't post him here!

PM me with your email

Here is my TPL

Guy's, google for the indicators.

you will find them easy and free!!

Many pips to all.

 

EA explain

Hi!

Can someone explain what does it mean break even, trailing step and waiting time minutes in the EA.

Thanks!

 

providur:
Hi!

Can someone explain what does it mean break even, trailing step and waiting time minutes in the EA.

Thanks!

Hey Providur,

Now i'm a newbie myself, but I can tell you what I think of it

Break Even : its when you get the amount that you invested back..

Example :

Initial investment : $150,

Total Account Balance after Trading : $300..

Trailing Stop : I think this video might be a good video

YouTube - 157. How to Use a Trailing Stop When Day Trading Stocks

I'm not sure about the last question

 

Lookback Value(s)

Hi, yotr72. Thank you for sharing.

yotr72/anyone, I notice that you use LookBack period of 3 for each of your different timeframe SSL Bars. Is there an advantage using 3 for the LookBack value instead of the LookBack value (10) used by darkonix?

TYIA, DM3554.

yotr72:
I've lurked a lot in the past but don't really post. I have however followed this thread with a lot of excitement. I want to thank the person who came up with this system.

I am currently trading it on a Dukascopy demo account. With the following modifications (bear with me, there are many):

I have set the NonLagMAv7.1 length parameter to 45. I also trade this live so don't use the email function.

Instead of using H4 only for the SSL Bar, I layered in extra timeframes, including the timeframe in which I am trading (M15).

I do trade outside the recommended hours primarily because I live in Vancouver and am either sleeping or busy during a lot of London/New York. And I have expanded to several pairs, all on M15 charts. These are: GBP/USD, USD/JPY, USD/CHF, AUD/USD, NZD/USD, EUR/JPY.

Other than these alterations I basically stick to the rules. Instead of the H4 SSL Bar agreeing with a change in our MA, I looked for all timeframes to agree. After I enter, I prefer a 20 pip SL which I adjust to break even when the trade starts moving along well.

Where to TP? I would like to add my 2 pips as a suggestion. One I am toying with. Open a second NonLagMAv7.1. Paint it any color you want, just as long as it completely different from blue/red or whatever your first one is. Then use the displace field. Adjust the 0 to 1 or 2 as per your tolerance. When the two NonLagMAs scissor shut on the chart - exit.

I am still tinkering with this system but loving the original simplicity of it as stated in post #1. I've never tried to attach an image in a forex forum before, but I will try to attach one here of what my Dukascopy MT4 demo acct looks like. I have added some lines and arrows through a recent trade.

Any feedback is welcome.

 
jackson_philips:
Hey Providur,

Now i'm a newbie myself, but I can tell you what I think of it

Break Even : its when you get the amount that you invested back..

Example :

Initial investment : $150,

Total Account Balance after Trading : $300..

Trailing Stop : I think this video might be a good video

YouTube - 157. How to Use a Trailing Stop When Day Trading Stocks

I'm not sure about the last question

Hi Jackson!

Thanks for answers, but do you know something about trailing step no trailing stop? " Waiting time minutes" is on the setup on the altoronto EA (Is it a time to wait when it receives the signal??)

Thank you once again!!!

We are learn as long as we're alive!

 

Hi, I wanted to learn this trading method as it seem very much simple for a new forex newbies.....

However, after reading all the threads here, I'm still very confused with the 16bar thing and where is the entry point. I don't see much sharing of the entry screenshot taken by the members here.

With reference to the chart I have attached on EU pair, am I correct to say the entry point is from the 2nd vertical line that I have drawn @ 1730hr as that is after 16bar on the SSL ?

Sorry for my bad english as it wasn't my 1st language.

Files:
16barssl.png  123 kb
 

No,

as far as I have understood, you have to do the following thing:

1. consider time (only 6h-21h gmt)

2. consider superior trend (ssl bar colour)

3. consider 16bars waiting time after colour change of the ssl bars

THEN wait for a change in NonLagMa

thus, your entry point would be one if NonLagMa would have changed to green at this point, but it did ealier.

So you have to wait for change of NonLagMa into red and then into green and THAT would be then your entry point (assumed that time and ssl bar colour fits/ does not change)

hope I made myself clear

Jass

 

hi, jackson, Good works!

jackson_philips:
I Every time i make a Profit, I withdraw it and start of with $150.. I think that is a good MoneyManagement Technique

I get a couple of questions about the Money making system and the Gann.

1. Could you please give more details about using the Gann? How to draw a Gann on the chart? What is the rules about using it?

2. You have lots of experience using the money making system in this forum, and made quite good income with it, , I need some help about the entry time. Please give me some screenshot about the entry time.Thank you very much.

Files:
when_to_enter.gif  42 kb
 
stav01:
Yes, I forward tested v1 and it made a loss. I am currently playing with v2 and its settings - today made a few losses but an overall profit. I am using it on 5 mins with 1 hour SSL. The thing is I took some profits manually when price got stuck at support or resistance. I think that is the thing with EAs - they are only a tool to assist you; you cannot make a profit by just leaving them, you have to watch and make some decisions yourself. But try it - it is a good EA - thanks to Altoronto.

Hi stav01

Could that be the key to this system , manually trade and use support & resistance as areas to trade or not to trade

cheers John

1...171819202122232425262728293031...54
New comment
Reason: