hi Tom ,i am really happy for you interest in my system, but most of your questions have been answered in my first post. i risk a maximum of 50pips to get 150pips i.e a 3:1 ratio. i cannot start telling you the technicalities on RSI and STS becos you can easily google them and read your fill. i use 10ema only when i am trying to limit my losses in trades that are not going my way and finally i have not tried it extensively on other pairs. i chosed E/J becos it usually have strong trend. PLS READ THE SYSTEM AGAIN SO YOU WILL UNDERSTAND IT BETTER. HAPPY NEW YEAR
Hi Gerry Thanks for ur reply. OK will google the technical terms, and sorry I reread your blogs and saw your trade management strategy in respect to pips risked already there. Actually, I have watched the system all week, and dabbled a number of times using all currencies. I am quite impressed the high success rate of the predictions when the ss signal changes, and I do a little analysis of where the price range is and what if anything is happening to the currency pair in the market, befoe I enter. My problem now, having observed its success, is to stick in there with the trend, as this week I pulled out when I got mild profit, and later watched with fascinated interest the direction could have taken me to a lot more pips profit. I have to change my mind set from scalping, to letting the ss system do the work for me, that will be my goal for next week. Wish you also Happy New Year, and successful trading. Regards Tom
happy to hear that, and please if you have any suggestion to better the system, dont hesitate to bring it up. takia
SCORE CARD FOR DECEMBER 2012
Total trades= 11
win trade= 4
loss trade= 5
draw = 2
considering my 3:1 Risk/ Reward, i think the month was not so bad.
Hi,
Where I can download EA and see testing results ?
Regards!
Very nice system!
Does anybody have this indicator where you can set it to apply at the “Open” of the candle rather then the default “Close”
Hi Gerry, I seek clarification on your 50p maximum stop-loss rule.
Using an example of a potential Long trade, if the trigger candle is tall and the distance between the stop-loss (5p below the Low) and the Buy entry (Close) is more than 50p, then would you not enter the trade? Or does it mean that you will Buy enter on a tall candle but you will set your stop loss at 50p below the Buy level, even though that stop-loss will not be below the Low of the candle? Thanks,
Great system Gerry. I’ve got a couple of ideas to contribute:
[B]1. MM progression[/B]
I’ve got a great MM progression for 1:3 payouts. It’s derived from a negative progression “betting” sequence (meaning increases wager with losses), but because working with 1:3RR payouts, it stays flat for a bit then increases very gradually, making a low risk progression. Of course, it requires either a -1 or +3 output from a trade, so the EMA(10) can be thrown out and after entry the TP of +3R and the SL of -R is fixed – set and forget.
The progression is as follows for 10 consecutive trades (and one can go on depending on risk appetite):
1 1 1 1.5 2 2.5 3.5 4.5 6 8
So each number is a multiple of 1 unit (what ever the first amount risked is).
You only move up the progression after each loss.
Once you win one trade, the progression is over (with a profit) and starts over.
You can choose to also reset the progression after x number of losses, depending on risk appetite. Note it only takes one win to erase last consecutive losses. If you had to lose 10 in a row, you would be 31% down (if one unit was 1% of starting balance). That may be too much for some, considering compared to losing 10 in a row betting the same amount for every trade (flat betting) leaving you 10% down. Some may therefore opt to reset after 5 consecutive losses which will leave you with 6.5% down instead of 5% down (if flat betting). So the reset after consecutive losses is a personal thing.
The good thing is that if the strategy rarely sees many consecutive losses (remember we’re only accepting -1 or +3 outcomes now), using more steps in the sequence is safer.
2[B]. Don’t trade certain H4 trigger bars[/B]
That last point brings me to my next point – how can I get a higher hit rate of winners (winner being +3). I manually backtested (read: could be errors) from October till now on the SuperTrend(8) indi. I discovered something interesting. All H4 trigger bars are not created equal.
So we know there are six H4 bars in a day. Lets say bar 1 starts after NY close and bar 6 ends at NY close. Now according to your strategy, we take potential entries only at the close of H4 bars, which means at one of the 6 bars. In my testing from October till now, I noted all the signals generated on the SuperTrend(8) and recorded their -1/+3 outcomes. (Note when there was an open position and a new signal came about, I just set the previous one to BE, so some trades had a zero outcome, not affecting things).
Anyways, I noticed that some trigger bars did very well and some, one in particular did very bad. All trades during that period, for example, that were taken after the first H4 bar trigger (the one during the Asian session, 4am in the morning for me at GMT+2) – all those trades lost. So just by eliminating/not taking any trades triggered on that bar makes the overall hit rate of the strategy go up. Of course, it would be nice if an EA can test many months back to verify.
The trigger bar that did the best was from signal triggered on the third H4 bar of the day.
The point here is that if only the historically best bars are traded, the hit rate can go up. Different permutations can be tested with an EA. From my sample, bars 3,5,6 give the highest %, but of course fewer trades. Combined with my MM, though, it gives quite a nice return. Trading bars 3,4,5,6 also gives the highest return with my MM, but smaller % hit rate than 3,5,6. It’s due to more trades being taken.
I hope some of these ideas prove to make a good system even better.
In your first post you mentioned that your maximum stoploss is 50 pips but the Eur/Jpy candle on H4 chart is mostly around 60 pips and above. Please elaborate. Thanks.
Hi Gerry, Do you consider news before taking any trades? And if sts 8 and 18 both shows an entry signal, do you enter both positions with split risk or you enter both positions with full risk?
MY question is about indicator settings:
You said:
INDICATORS : 1) super trend signal(STS) indicator 8 AND 18 on two different 4hr charts ( note that we will make use of two 4hrs chart)
Where do I change the parameter values in that indicator in MT4? I attached super trend signal to the chart but at the super trend signal properties I cannot change the values to 8 and 18.
I’d appreciate the answer
Thank you