Very easy and profitable trading strategy

To add comments, please log in or register
jay_x
124
jay_x  

Hi All,

It has taken me over 6 years and I've finally become a consistent profitable full time trader thanks to this strategy.

The strategy is very simple and would only take a few minutes of screen time per day (using 4HR candles).

I'd like to thank 'bigbear3391' for his guidance and inspiration!

GONE FISHING STRATEGY

By jay_x

Platform: Metatrader 4

TIMEFRAME: 4HR, DAILY (Shorter timeframes work but reduced winning %)

INDICATORS: FX Fish, MA_CROSS_OC (I overlay bigbear's FTC as well to spot possible oversold/overbought)

SHORT ENTRY:

DOWN Orange arrow AND Red line on FX Fish indicator

ONLY ENTER AFTER BAR CLOSES!

STOP LOSS: Last swing

TAKE PROFIT: I personally slide to break even at +50 then wait for closing signal

LONG ENTRY:

• UP Blue arrow AND Green line on FX Fish indicator

ONLY ENTER AFTER BAR CLOSES!

STOP LOSS: Last swing

CLOSING SIGNAL, STOP LOSS, AND TAKE PROFIT SAME AS SHORT ENTRY

CLOSING SIGNALS:

• Opposite arrow appears (take opposite trade if FX Fish turns a different color as well)

• FX Fisher gets an opposite line color (no arrow needed)

See attached pics for samples.

And that's all there is to it. Works with most pairs (I use majors and yen pairs).

Check the charts every 4 hours for signals then turn the monitor off and come back again in 4 hours (or next day if using daily).

Any copyright infringement is accidental. I DID NOT CODE THE INDICATORS.

Happy fishing!

jay

Files:
prykala
34
prykala  

Thanks for your upload but FX FISH repaint in the past very bad ... And newer look the same on live chart like on history... Repaint and fit to the chart.

Look on the signal from fisher. Signals are too perfect. You can try FX FISH on tester in MT4 i visual mode.

jay_x
124
jay_x  

True, that is why there is the additional EMA cross indicator and which is also why you enter at the close of the bar.

Plus, who cares about the past? The signal at the current bar is valid and that is what you go with.

You must understand that the Fish indicator basically converts price to a Gaussian probability function using the last 10 bars. Doing so will increase the probability of a change in price direction because it normalizes price behavior (turns it into a bell curve). Compounded by the EMA signal gives a high probability of a change in direction of price.

But don't take my word for it. Just forward test and don't deviate from the rules and see what you get =)

jay

prykala
34
prykala  

Thanks for your information but i write about the "repaint in the past" because you paint red circle on indicator FX Fish. And from this cicles You calculate profit. But Fx Fish never get so perfect signals in live trading. This is the couse why a lot of trades are to late to be profitable but on history looks like very profitable. I dont must write: EMA gives late signal too.

Sorry for my English but i think you can understand

And i have question for you. How many position are you open basen on this strategy? Can you put here chart with template and your posiotion then we can see how big is the late and repaint ok?

thanks

p.s. Close of the bar not help because fx fish repaint many bars back...

When you dont have this history chart i can make live test on history data and put here. If you wont.

Mladen Rakic
110040
Mladen Rakic  

...

Let us assume that it is a correctly coded indicator and then let us quote Ehlers (since that indicator is a badly coded Ehleres fisher transform)

"The Fisher transform converts almost any input probability distribution to be nearlya Gaussian probability distribution."

Attaching the document with the original description from John Ehlers (in it is also visible how is the coding error made when the code from tradestation was converted to metatrader - tradestation works with variables in a completely different way than metatrader.) There is simply to many coding errors in that conversion of Ehlers fisher transform

jay_x:
True, that is why there is the additional EMA cross indicator and which is also why you enter at the close of the bar.

Plus, who cares about the past? The signal at the current bar is valid and that is what you go with.

You must understand that the Fish indicator basically converts price to a Gaussian probability function using the last 10 bars. Doing so will increase the probability of a change in price direction because it normalizes price behavior (turns it into a bell curve). Compounded by the EMA signal gives a high probability of a change in direction of price.

But don't take my word for it. Just forward test and don't deviate from the rules and see what you get =)

jay
philt
415
philt  

jay x, there are 11 trades there since 22jun, did you take all of them, if not how many/ or why not all of them. thanks. or at least post the same chart with a trade tracer to identify your positions so we can see.

jay_x
124
jay_x  

I only circled all those trades to give examples of entries and exits. Not all were valid at that time.

I trade with OANDA and just use MT4 for indicators so I don't have a history of the trades.

However, I've taught my 13 yrd old nephew this strategy and here are his current trades.

There were valid signals on eur/usd and eur/jpy yesterday. He is up almost 100pips already (I took the same trades plus the gbd_usd - I am up 120pips).

I have tried several variations of the Fisher indicators and settled on this one. You can try the different 'fixed' versions and see which one you like.

Like I said, just get a demo and forward test and see what you get. Good luck!

j-

Files:
BigJoe
1285
BigJoe  
jay_x:
I only circled all those trades to give examples of entries and exits. Not all were valid at that time.

I trade with OANDA and just use MT4 for indicators so I don't have a history of the trades.

However, I've taught my 13 yrd old nephew this strategy and here are his current trades.

There were valid signals on eur/usd and eur/jpy yesterday. He is up almost 100pips already (I took the same trades plus the gbd_usd - I am up 120pips).

I have tried several variations of the Fisher indicators and settled on this one. You can try the different 'fixed' versions and see which one you like.

Like I said, just get a demo and forward test and see what you get. Good luck!

j-

Ah that's a nice strategy to hire nephew

Kevin come here !!!

scamMEplease
5
scamMEplease  

Thanks

Thank you for posting what appears to be a very simple strategy, definitely worth a forward test.

jay_x
124
jay_x  

My pleasure! Good luck!

Also, WR1 was nice enough to add an alarm to the EMA cross indicator.

j-

Files:
scamMEplease
5
scamMEplease  
jay_x:
My pleasure! Good luck!

Also, WR1 was nice enough to add an alarm to the EMA cross indicator.

j-

Great, thanks again.

To add comments, please log in or register