AUDUSD Short from 9135 (12 Jul 8:00) closed at MA 9145 (16 Jul 0:00) for -10
(was onside by over 130 pips 12 Jul 12:00)
I will try but please dont hold me accountable 
1 - If you are trailing at the MA it means you would have been stopped out because an arrow is painted when price touches the MA so you would enter again but if you are trailing 10 pips behind the MA then if price just touches and paints an arrow you would probably not have been stopped so would not need to enter again
2 - You can have two indicators, one for your demo and one for your live, I have the email address <[email protected]>
3- That’s the journey
Hope it helps.
Thanks again, I am very tempted. What level of knowledge/experience did you have before doing it? Do you think it is ok for a novice or better to play with the system and get a basic understanding via a demo account then do the one on one?
The reason your stop loss is not hit is that when you ordermodify() to set the take profit, you reset the stop loss to 0 by mistake. You should set both the stop loss and take profit in the same ordermodify() line. Unfortunately, I think this will have a pretty big impact on your results. The way you have it now, trades are just running until they hit the t/p.
Also, I’m not sure if you are aware, but due to the lack of s/l being set you do hedge at one point when the orders switch from buy to sell. That may work itself out when you get the s/l working correctly.
The other thing that I’d be somewhat concerned with along the same lines as the hedging, is that you allow multiple positions to be opened at the same time, even in the same direction. This could lead to some poor risk management, as you could have 5 or 6 entries back to back in a ranging market all open and then a breakout against you could take them all out at once, leaving you with a huge hit to your account. I’m not sure if you limit the number of positions at all, but if you don’t want to limit it to 1, I would still suggest implementing a max somehow. Good luck!
I want to throw some caution out for everyone to be aware of. This system may not have the best results on all pairs. I have tried quite a few methods for S/L and T/P and so far I have not found something that produces consistent profits. Some pairs actually result in some serious losses depending on how you have things set. Trailing the SMA for a stop loss does not seem to be very effective at this point. A fixed SL does not work well either, so I’m still searching for a way to optimize each pair for its full potential. I would be hesitant to utilize this system on a live account though.
I thought that with a zero value, the value wasn’t changed. I just check and you’re right.
I’ll modifiy all of that and gov you new results soon
thanks for noticing me
Hi chip4pm, I didn’t have much experience when I started this method, and I guess you need to do what you feel comfortable with.
I would be hesitant to use any EA on any live account and I would also be hesitant to believe any historic results from any EA unless I am 100% certain the data is accurate, even is this is possible I would still want to be assured that the results had been checked manually not just to include valid trades but also to make sure invalid trades were not taken and than all valid trades were taken. Basically negating the purpose of EA’s here perhaps but just my limited view on them - This is a strategy and it is not a system in my opinion, it’s one to be taken and applied to suit your style - Fair enough Phil has chosen his criteria, others may prefer a fixed stop and target, others will use discretion - I wonder how many of us would report the same manual results over 2 years and how many of us would report the same results if we ran an EA over 2 years with the same settings.
Sorry to go on, basically my view is, this is a strategy not a system and also EA’s are unreliable unless manually checked. Fair play though Phil for publicising your approach and your results, appreciated by me whilst I determine how best to implement this strategy.
USDJPY Long from 9963 (17 Jul 8:00) stop 9928
0 does not result in the value not being changed, but OrderTakeProfit() would work for you there.
Everyone has their own thoughts on EA’s. I do agree with you that “Three Little Pigs” is a strategy and not a system, but once you apply a specific set of rules to the strategy that you like, it does become a system. I strongly believe the use of an EA can drastically reduce the amount of time it takes to back test and modify the strategy to your liking, but I do agree that running an EA on a live account is very risky. I prefer to use it for honing in on a final set of system rules based on a strategy, but then trading manually, once you find something you like. I don’t think I would ever use an EA for a swing trading strategy live though because it is added risk that is not necessary when you are only looking at a few trade times a day.
USDJPY Long from 9963 (17 Jul 8:00) stopped out at 9928 (17 Jul 12:00) for -35
Back in on USDJPY
USDJPY Long from 9947 (17 Jul 16:00) stop 9920
Thanks a lot for the reply and info. I placed my order today so hopefully I ll get the indicator in 24 hours time. Like I said before I never tested this system but I am going to test it on the demo tomorrow and thats why I purchased the indicator to save myself from looking at three charts. In the reply you said about trailing MA. What is the meaning of trailing MA? I mean I am totally blank about TP and SL can you please explain what method do you use for SL and TP?
Thanks!
[B]@ harmonicphil[/B]
Bro thanks for introducing this system. I am highly tempted to it. Count me in too as from tomorrow as soon as I get the indicator I ll be testing this system and will try to post my daily results.
I used a couple of strategies before but none of them work in the long run except for 3 ducks which is a very good system. I have been trying a channel system for about a month but it didn’t prove nice so I am badly in need of a good strategy and I hope this is the one I am looking for.
I have a request bro that since you took the one on one course with Jon can you please share some important parts of that session so people like me who cant afford that session would benefit from you. I mean there must be some important points which maybe not mentioned in the ebook or work sheets etc. Please share!
Thanks.
Hi, no problems, it’s simple really by example - If I have my first Stop at say 10 pips behind the MA it means that as price rises (and the MA rises) my Stop then rises, I have no target in this case as my trade exits when my trailing Stop is hit. I think some or most of this is covered in the manual.
Yesterday the EURGBP hit the trailing stop 12 pips behind the MA
EURGBP Long from 8630 (12 Jul 8:00) stopped out at 8633 (17 Jul 12:00) for +3
EURUSD nearly hit stop on the 12:00 bar, the stop is trailing 25 behind the MA, new signal for anyone not yet in.
New trade:
AUDUSD Short from 9165 (18 Jul 12:00) stop 9192
Thanks for the reply. Now I understand what you mean. However I am starting with a fixed SL and TP to see how it goes. I got the indicator and now entered three trades, USDJPY Long (100.541) , AUDUSD Short (0.91502) and EURJPY Long (131.630) :31: Lets see how they go! The USDJPY and EURJPY looks already over valued but since I have the confirmation so thats why i entered also on AUDUSD chart the price has not passed below a previous low but I entered anyways. Please let me know if I took the right trades and will you take it if you were me?
[B]USDJPY Long at 100.541[/B]
[B]AUDUSD Short at 0.91502[/B]
[B]EURJPY Long at 131.630[/B]
Thanks.
[B]Edit: Took another trade EURUSD Long at 1.31116 when all three timeframes were confirmed up[/B]
[B]Edit: Closed my AUDUSD trade for -32 pips loss as now the price is going above the 34 SMA and also the timeframes show up, down and up![/B]
I have a couple of more questions please:
[B]1) [/B]Since Weekly and Daily time frame is confirmed by the indicator so I just opened one chart of 4 hour time frame and I put a 34 SMA on that chart and when it says check chart for the 4 hour time frame I then check to see if price is above or below the 34 SMA. Is it correct? I mean I now don’t look for 55 and 21 SMA manually!
[B]2)[/B] I have applied the 34 SMA to “Close”. Is it correct settings?
[B]3)[/B] The rule says that the price has to touch and close above or below the 34 SMA but in case you open your chart and find yourself late to the action and price has closed above or below and there are now several candles past but the main 3 time confirmation is still intact do you enter in the trade or not?
[B]4)[/B] Do you immediately enter when you get the confirmation by all three time frames or do you wait for price to break a previous high or low on the 4 hour time frame?
[B]5)[/B] harmonicphil stated in the opening post that he trade 8 pairs as mentioned in the manual but I look carefully and didn’t find anything about the pairs in the manual? What manual are you talking about? The ebook right? But where it is mentioned in the ebook please reply. Thanks.
[B]6)[/B] kindly tell me that how important are the arrows on a 4 hour chart? Do they represent entry points? I mean I am confused as I have seen Up arrow on a 4 hour chart even though when the 1st and 2nd little pigs are confirming a down trend. If the first and 2nd timeframe is down then why this long arrow is appearing. For example have a look at this 4 hour chart. Price is confirmed down on weekly and daily charts but there is this green arrow pointing up. Please help me to understand this.
Thanks!
today’s deal, with the EA
AUDUSD
open : 07/18/2013 12:00 - 0.91497
SL : 0.91828 / TP : 0.91164
SL hit 06:03pm : -33p