alas, i have had 5 out of 6 losses using this in last few days.
i’ll persevere still.
Can this be set up on VT’s autopilot or do I need to monkey with the code a bit to enable that?
Where can I find a MACD indicator with 2 lines on it… My MACD only has one line… I am using a metatrader MT4 prg…
Hello! How can i make this sistem to automatic open positions for trading?
Thanks!
Hi, Guys!
Thank you James for posting up this system.
I read many posts, but didn’t quite get an image of who is using which optional indicator? Personaly, I use Slow Stochostics (8,3,3), I simply look at those two lines (their crossing and their position on high/low range (you all know the rest ;))
YoungTrader
can you make vttrader to trade after this system by it self? to set stop loss and profit target?
Or can you make a signal for your mail when parabolic sar and macd are in the right position?
Hi there James here
Well a profitble day on the GBP/YEN 100 plus pips and a good week
But a little slow,
Disapointing NFP Initial reaction to the much stronger than expected Non-Farm Payroll report is like what’s discussed before, carry trade dominates. Even though dollar is sent higher against the Japanese yen, resumption of carry trade activities, on anticipate of rally in US stock market, sends most yen crosses higher, which in turn overdone dollar’s strength. As a result, EUR/USD is lifted to new record high above 1.45 level again while other majors strengthens too. In Oct, US economy added 166k jobs, almost a double of expectation of 88k. Though, prior month’s job growth was revised lower from 110k to 96k. Unemployment rate remained unchanged at 4.7%.
Oil prices are again setting new records and global inflation is ticking up once more. Global food prices are on the rise this time too, and for good reason - global food stocks have been falling for quite some time and are now very low. Meanwhile, unemployment is at a 25-year low, and this may fuel wage growth.
Central banks are facing an increasing dilemma, as inflation is still high and climbing, but growth is running out of steam. This combination means that the markets cannot be sure that central banks will support growth as much as they normally would. While this dilemma is not unusual at this juncture of the business cycle - where inflation is still being affected by the strong growth of recent years - the inflationary pressure from commodities is stronger than normal this time around. Central banks may take some comfort from the fact that core inflation (inflation excl. food and energy) is still low.
Hence, many central banks can claim that core inflation in their own country is low - or, in other words, that domestically driven inflation is relatively subdued. Is it not enough for central banks to focus on inflation at home? Perhaps. But this leaves the problem that no central bank will address globally-driven inflation. Indeed, individual central banks do not have much incentive to tackle global inflation, as this would involve enormous costs in the form of very much lower growth. This means that global inflation may not receive enough in the way of attention or action - and perhaps this is what we are seeing at the moment.
Regards
James
Hi everyone - I have a few questions and I am sorry if these have been answered elsewhere in the thread but I havent had time to read all the postings yet!!! I don’t have a 30m chart on my trading platform - will a 15m one also work ok? The system says we must wait from the MACD to cross - must this occur simultaneously with the dot reversal or can it happen before? Is this then a valid signal if it crosses before the dot reversal? Are there any good times of the day to use this system? Thanks for all your help in advance…
Tried this system on my demo account and had a decent night.
Off of 3 trades I was able to net 61 pips.
1st trade: -3
2nd trade: +74
3rd trade: -10
First trade I got over zealous in jumping in. As soon as I realized this I got out. Second trade was about an hour and half later, having spotted my first IB, I jumped in on a oversold indication. With the over sold indication and the stochastics in a up trend I saw the IB and it was a valid entry. Stayed in the trade until the stochastic showed oversold and a reversal coming. Third trade Got in the trade earlier then I should have, noticed the trend was going against my trade as the market corrected itself after the quick jump up. Cut my losses and got out of the trade.
Will update with more of my results as time permits.
Thank you to everyone, especially James, for all the great info in this thread.
Good luck to everyone.
CH
can you make vttrader to trade after this system by it self? to set stop loss and profit target?
Or can you make a signal for your mail when parabolic sar and macd are in the right position?
Hi guys, first of all i want to thanks James and everyone in this thread, your contributions are great!
I have a question:
Whats the functions of the ADX indicator and how i must read it for understeand it?
Thanks for everyone one more time.
Bye!
Is anyone trading this method live? I demo’ed it for a couple of months and did farely well. Have taken the plunge and started this live today. Already made a 17 pips today, not much but modesty works for me at the moment. Anyone else doing alright with this one? Cheers to James once again.
Hello everyone, I am trading the MACD, PSAR, 30min EUR/USD system too. Nothing wrong with modest profits, keep it up! At the risk of sounding like a broken record, thank you James for your advice and help, although the confidence that you convey in your posts seems to be your greatest asset, and that we all have to learn ourselves. Best of luck everyone.
A question for anyone in the trading group that James started. His updates say that people are clearing 100 + pips per day. Is that in single lots or say 20 pips by 5 lots? My daily average is around 20 at this point, although I have only been live trading for a few months.
Thanks
Pipdemix
Hi pipdemix.
are you taking part in the live trading?, as i dont see where some of these figures come from
Yes fourex I am live trading using trading station 2 (FXCM). To clarify my figures, if you make a 20 pip profit on a trade using the smallest amount possible which is 1 lot, you make 1 x 20 = 20 pips. If you use 5 lots on the same trade you get 5 x 20 = 100 pips. I was only curious as to whether the 100 or so pips that james’ trading group were garnering daily was a multiplicand of the amount of lots used.
Thanks
Pipdemix
Hi there
the 100 pips a day are for a diffrent system not this
thats why its called 45 pips aday
james
Hello James
My question remains the same. For accuracy’s sake and to avoid further misunderstandings, the 45 pips per day system, would that be 1 lot x 45 pips or e.g 3 lots x 15 pips? I ask because I wish to judge my current performance against what targets you envisaged when devising this strategy. Thankyou for your help in the past few months, I have followed your posts keenly and am quite marvelled that someone would go out of their way to help so many people with their own knowledge and skills, particularly for free.
Thanks
Pipdemix
You need to get away from thinking in pips - you cant spend them. Dollar return as a function of risk taken is what is important. James figures are NOT based on a multiplication by lot size as that would be entirely meaningless. Be aware that people in James room trading the same stategies return significantly different amounts for all sorts of reasons. Your 20 per day (depending on your stop) average is truly excellent. Keep that up, concentrate on optimal money management and you will be financially very secure in life
Thankyou for the vote of confidence. After 3 months of successful demo trading i fell victim to the August EUR-USD/AUD landslide on my first week of real trading, losing 80% of my capital. After extensive reading and researching, using resources such as baby pips’ forums and pipschool, my account is almost what it was when i started out. Although I feel more confident in my trading, I consider myself still very young in this field, and look to “stick to the herd” to both gain more insight into successful strategies and, as you mentioned, money management.
Using the PSAR, MACD 30 min chart EUR/USD strategy has worked very well for me, but when it comes to setting stops and profit levels, I rely on nearby support/resistance levels, as well as my own judgment on greed and risk. 20 pip stop, 20 pip target is how I setup my trades. Is this a decent approach?
Thanks
Pipdemix