This is not a Holy Grail (Simple Method)

Hello,

Happy new year. :slight_smile:

Heikin Ashi is a candlestick pattern that makes market trends look better and easier to identify (ofcourse in trending markets), If you see any picture above, there will be a series of red candles or blue candles in a row forming what is like a “Trend” or a “Wave”.

More on Heikin Ashi (from investopedia)
The Heikin-Ashi technique is extremely useful for making candlestick charts more readable–trends can be located more easily, and buying opportunities can be spotted at a glance. The charts are constructed in the same manner as a normal candlestick chart, with the exception of the modified bar formulas. When properly used, this technique can help you spot trends and trend changes from which you can profit!

I share your problem. Stoploss is the biggest challenge of forex, may I tell you I got 2 trades stopped out at -30 when S and R breaks only to see trades went my favour after hitting SL to make around +40?

It’s a serious challenge. If we do not use stoploss, that can wipe out accounts. If we use stoploss, we need to know that it’s really the right point to-stop-loss.

So placing your trailing stop and stoploss or any stop order is very big decision. Indeed, while the method gives you all accurate trades, one trade last for 10 pips, and another for 100 pips. You can’t know. :slight_smile:

From my experience, the trade won’t fly through my direction just when I open it, and that makes putting a SL harder.

Hi TopChess:

Yes, we suffer the same problem. After reading all of Elang’s posts it seems his method makes deciding where to place the SL easier. However, when someone takes you by the hand and feeds every move to you with explicit directions it makes it all seem much easier than “when you find yourself left home alone” to figure it out on your own. The guy is good though, really good. Can’t believe he’s only 20.

I am in the process of making some developments to the indicators set to have better results and to be able to trade swing setups too.

Today the system caught eurusd upside swings nicely as well :slight_smile:

Hi TopChess:

Thanks for the reply and I look forward to seeing the post you mentioned above.

Search for the Holy Grail. There may not be a holy grail but it doesn’t mean that you can’t look for it. Continue to explore systems, indicators, and anything else you can get your hands on. It will help you in developing as a trader.

I do my best to learn and develop my trading style. I might have found one already, but it’s under extreme testing now :slight_smile:

I do not want to add more indicators to the tool, instead If I could cut a few indicators and make it more simple.

We will add a little useful tool to our indicators which is, the Gann Hilo Activator set to 3 (default).

We will use it to confirm our entry and exit as well, make them more accurate, and gives us potential to trade swing setup.

I had more stop losses than take profit with this system.:frowning: Maybe this was just bad luck, or I put stop losses to close (on 10-12 pips). I don’t know, I will try more with this but, if I continue to lose I will abandon it. If you have some advice, I would appreciate it.

Hi zextapo:

You probably should take a relook at your choices for placing a stop loss. 10-12 pips isn’t normally enough room for the pair to flex and go through it’s normal course of gyrations as it wonders up or down the graph/chart. Read up a little more on the subject. Elang as posted some great ideas on where a stop loss should go. He’ll often state something to the effect of “place your stop at the pairs most recent high before it started downwards or at its most recent low before it started on its upwards trek.”

Please add the Gann Hilo Activator to the method. Check results again with Hilo, I assume you demo trade first. :slight_smile:

Too bad my softwear doe`s not inclued this indicator by default!

Try VT Trader.
Gann Hilo is very important now, it eliminates many fakeouts, and confirms your entry/exit with lowest loss - maximum profit possible.

ok,thanks, i will!

Sow its bee quite a while since youre useing your system, hows it going so far? If its okay with you, than you might even tell us your overall pip gain!

I am not trading nowadays, you can say finding another broker. So I am not up with the method, but sure I will complete developing the method when I am ready to trade again.

So what are the rules when ADX < 20? Do you trade or not?

I personally do not take trades when ADX is below 20. But that’s discretion.
I am sorry cause I am not updating with signals, cause I am developing this method to put a suitable Gann Hilo Activator

By the way (If that’s you in VT Forums, I like the idea of creating an auto trader for SAR and Gann Hilo, It would be nice. I would like to create such thing but with ADX, Moving Average Crossover combined)

Gann Hilo Activator set at 10 is better than default settings, while I believe SAR should be default.

These 2 are good enough If you use higher timeframes to confirm your entry.
Afterall, I am trying to make the method as simple as possible…

I’m just waiting until I get my VT account validated, and I will request a system to be automated, to make entries and exits clear. based on certain formula for indicators (MA, HILo, SAR, ADX). then I will publish this here

topchess,

I’m in the VT forum. You should be able to get in. I use a TS that involved psar & gann hilo with alert - no auto trading. You can download the TS or have Chris modify it to your specs and import it to your platform. Here is the link:

Gann Hilo Activator Trading System - Visual Trading Systems User Forums

Yes, no auto trading. At least it shows to you when conditions met for entry. I do not want to look too deeply in the chart to get the entry/exit signal. I would get them automated by entry , exit arrows in VT. So I am probably going to need Chris to do this for me.

But, I believe the VT Forums not allowing new signups, cause I never receive validation e-mail, it seems that last 200 registered users are still “validating” which means it is not my mailserver. There is a problem with VT Foum sending registration validation to new members. I do not know how to contact them :frowning:

Below is the HiLo activator for Metatrader users.

Hi-Lo.zip (821 Bytes)