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Mick Prater  
Yvonne:
Any plans for including a trailing stop and/or magic number?
I don't but I can add it to the maybe list. I have tried different trailing stops and a fixed trailing stop turns out to reduce profits ratios. The way it closes now is an Ichimoku style trailing stop as it uses the tenkan-sen line to close positions. When there is a close past the Tenkan-sen line it closes
Mick Prater  
I just wanted to share some of my more favorite settings for the Ichimoku settings in the green dragon, the ones I use for shorter time frames, mainly the 1 hour. The default Ichimoku settings aren't arbitrary numbers picked by Goichi Hosoda but are according to his number  theory. 9 = one section, 17 = two sections, 26 = one period, and 52 = one round (the sum of two periods 26+26, or the sum of 9, 17, and 26). However he derived these numbers I don't know. Maybe they are magic numbers like Fibonacci's. But that's what they are. On my back tests I have always found that setting the kijun-sen to 16 most of the time had better results on the H1 because it moves the chikou line closer to the price  action to catch those consolidations quicker. So, just to keep with the number theory tradition I set my Ichi's to 9, 17, and 26.

  • tenkan-sen 9
  • kijun-sen 17
  • senkou span 26
Mick Prater  
Here's Goichi Hosoda's magic number theory applied to the USDJPY daily chart. I'm not really a fan of magic numbers like this or Fibonacci numbers either because they have nothing to do with price action, it seems they just try to model random walk movements. But I must admit they do exhibit some special creepyness that I can't deny.

 
Mick Prater  
Im putting the number theory to the test. I just opened an long position for .01 lots at 113.728 with a stop at 111.500. That's a $20 bet. I'll close the position on the 20th which should be 9 days from that first long white bar. We'll see how good Goichi Hosoda's predictive powers are.
TheRealDude  
Mick Prater:
Im putting the number theory to the test. I just opened an long position for .01 lots at 113.728 with a stop at 111.500. That's a $20 bet. I'll close the position on the 20th which should be 9 days from that first long white bar. We'll see how good Goichi Hosoda's predictive powers are.
Interesting.
Mick Prater  
The longer I stare at this chart more things become apparent to me. The period numbers just mean places where activity increases, more like decision points. In this chart the Ichi is showing a bearish sentiment as seen in the bearish kumo at the end. That represents some sort of complex death cross. The midpoint of the tenkan-sen and kijun-sen, or 17 bars, has crossed below the senkou span B line, which is the mid between the hi and lo of the last 52 (26)bars. The current white bars are a pull back to that zone between the tenkan and kijun (the 17 period zone). All this magic to say one thing; Short it.

I'm going to set the EA to only allow short trades on this pair. Or, maybe wait for a bearish reversal candle and short it.
Mick Prater  
I have dropped the 17 from the Ichimoku magic number theory cause I can't find anywhere other than one website that talks about it, plus its not the midpoint of the ts/ks, its not the midpoint of anything and is nowhere in Ichimoku.what I have found is:

  • 9 bars = 1section
  • 26 bars = 1 period
  • 52 bars = 1 round
compound numbers:
  • 1st compound = 1 section + 1 period
  • 2nd compound = 2 sections + 1 period
  • 3rd compound = 2 periods, which is 1 round
With this in mind, I have been watching the green dragon set up trades. The chikou span is shifted back 26 bars (1 period) so when it crosses price that is in a consolidation it means that that consolidation has lasted 26 bars, and that is a prime time frame for reversals to happen. At least, according to Goichi Hosoda. The chikou span becomes like a timer for trade entries.
Mick Prater  
I am working on an update for the Green Dragon, any suggestions post them now or forever hold your peace.

I am working on having multiple closing parameters in an attempt to avoid premature closeouts because of fluctuations across the tenkan-sen after a position has been opened.
TEguy  
Mick Prater:
I am working on an update for the Green Dragon, any suggestions post them now or forever hold your peace.

I am working on having multiple closing parameters in an attempt to avoid premature closeouts because of fluctuations across the tenkan-sen after a position has been opened.

Hi Mick, I am thinking about buying this EA. If I buy now, will I be able to upgrade to the latest version later for free or have to pay again. Or should I wait until the latest version is finished?

Thanks 

Mick Prater  
TEguy:

Hi Mick, I am thinking about buying this EA. If I buy now, will I be able to upgrade to the latest version later for free or have to pay again. Or should I wait until the latest version is finished?

Thanks 

you will have to ask a moderator, I don't know the answer to that. The update is still a few weeks away
TEguy  

So I bought this EA and I'm testing it on many pairs and many different time frames and it seems to be very good at loosing money. Can you advise what settings we should enter to make this thing profitable? If anyone has had any success with this in normal trading - not back testing, can you share what parameters you are using. It is getting five stars from users but I am not seeing the results.

T‌hanks

Mick Prater  
TEguy:

So I bought this EA and I'm testing it on many pairs and many different time frames and it seems to be very good at loosing money. Can you advise what settings we should enter to make this thing profitable? If anyone has had any success with this in normal trading - not back testing, can you share what parameters you are using. It is getting five stars from users but I am not seeing the results.

T‌hanks


Thanks for the purchase, I just thought I would share some recommendations on using the green dragon and the way that I use it. First and foremost the Green dragon, and Ichimoku trading in general, is a trend capturing system so It will do best in that environment. When the pair begins to range then Ichimoku systems struggle. The Green dragon is no different. Therefore it is best to monitor the pairs you are trading and adjust the green dragon accordingly. The best way to do this is by using the kumojoy setting. This setting only allows trades when the pip size of the kumo is greater than the setting and helps filter out ranging trades. However, there is no sweet spot. If the setting is too small than you will risk trading in a range, if it is too large than you will miss trending set ups. I find that monitoring the pair it is trading on and increasing the setting when a range develops and decreasing when you see it break out is the best way to use the green dragon. I don't recommend changing the Ichimoku settings ( I used too but found that I lost more than won and my trading became inconsistent. If you do change them then it is best to keep with multiples of 9 and 26).

‌As an example, this is how I am currently using the Green Dragon. I find my trading pairs by first consulting two trader sentiment reports the Commitment of Traders (COT) http://www.cftc.gov/MarketReports/CommitmentsofTraders/index.htm, and the retail sentiment report on DailyFX https://plus.dailyfx.com/fxcmideas/intraday-list.do. I find that pairs where institutional investors are increasing positions trend best. I put the green dragon on the best pairs and depending on the current market condition (range or trend) I set the kumojoy accordingly. I have good results that way.

I know that ideally we want to click the auto trade button, walk away and let the profits roll in, unfortunately that unicorn is hard to find. I find it best to actively control EA's and to have a portfolio of EA's to use as market conditions dictate. I have built the green dragon and the black dragon to assist with the majority of Ichimoku trading automatically, and they work well when used within that context. I hope this helps‌.

TEguy  
Mick Prater:


Thanks for the purchase, I just thought I would share some recommendations on using the green dragon and the way that I use it. First and foremost the Green dragon, and Ichimoku trading in general, is a trend capturing system so It will do best in that environment. When the pair begins to range then Ichimoku systems struggle. The Green dragon is no different. Therefore it is best to monitor the pairs you are trading and adjust the green dragon accordingly. The best way to do this is by using the kumojoy setting. This setting only allows trades when the pip size of the kumo is greater than the setting and helps filter out ranging trades. However, there is no sweet spot. If the setting is too small than you will risk trading in a range, if it is too large than you will miss trending set ups. I find that monitoring the pair it is trading on and increasing the setting when a range develops and decreasing when you see it break out is the best way to use the green dragon. I don't recommend changing the Ichimoku settings ( I used too but found that I lost more than won and my trading became inconsistent. If you do change them then it is best to keep with multiples of 9 and 26).

‌As an example, this is how I am currently using the Green Dragon. I find my trading pairs by first consulting two trader sentiment reports the Commitment of Traders (COT) http://www.cftc.gov/MarketReports/CommitmentsofTraders/index.htm, and the retail sentiment report on DailyFX https://plus.dailyfx.com/fxcmideas/intraday-list.do. I find that pairs where institutional investors are increasing positions trend best. I put the green dragon on the best pairs and depending on the current market condition (range or trend) I set the kumojoy accordingly. I have good results that way.

I know that ideally we want to click the auto trade button, walk away and let the profits roll in, unfortunately that unicorn is hard to find. I find it best to actively control EA's and to have a portfolio of EA's to use as market conditions dictate. I have built the green dragon and the black dragon to assist with the majority of Ichimoku trading automatically, and they work well when used within that context. I hope this helps‌.


It helps a little bit. So at this very time 8th March - what currency pairs are you using the EA on? What time frame and what kumojoy setting? I just want to get an idea what to look for on the chart. Also when you say increase the kumojoy, what number do you actually have in mind? Thanks

‌

8023357  

Works on cent accounts? Buy it because it does not say it is not compatible with these accounts.

‌

Mick Prater  
TEguy:


It helps a little bit. So at this very time 8th March - what currency pairs are you using the EA on? What time frame and what kumojoy setting? I just want to get an idea what to look for on the chart. Also when you say increase the kumojoy, what number do you actually have in mind? Thanks

‌


I am currently running GD on GBPUSD, USDJPY, EURUSD. H1 time frame with kumojoy at 156. I also have the GD on USDCAD, USDCHF,AUDUSD,EURGBP,NZDUSD but with kumojoy at 2000 so they don't trade. Here is my sentiment table that I get based on institution and retail sentiment from the two reports I mentioned earlier:


 Institution Retail Active Pairs Flip
USDCAD: Short Short

USDCHF Long Long

GBPUSD Short Long *
USDJPY Long Short! * 03/08/17
EURUSD Short Long! * 03/08/17
AUDUSD Long Short

EURGBP Long Short

USDRUB? Long Short*

USDMXN Long Short*

USDBRL Long Short*

NZDUSD Long Long *

Italics mean that Institutions are changing their positions. I trade according to institution sentiment and contrarian to retail. Q4 of 2016 was great, January was not so good, February better.

Mick Prater  

This is probably a better setup than the JPY right now, at least a trade that I want to take. If it pulls back instead of a breakout I'll will probably enter it manually because the Green dragon wont catch it.


Tof Dez  

do you have a forum that we can acess more information/

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