45 Pips Per Day System Eur/usd

[FXdude]

When trading the news in today’s environment, you have to look at a few other factors besides whether or not the data is positive or negative for the currency you are watching.

1. What are the expectations and is it priced into the market already?

Many times the market prices in expected data outcomes. Therefore we often have “buy-the-rumor, sell-the-news” scenarios play out. For instance, if data is expected to be weak for the US Dollar, traders may begin selling a few days or weeks ahead of a major economic data point. Once the data is released as expected, traders take profit by buying the currency - a move that goes against the logic of how price action play out. Also, if there is an outliers in the data read (like the huge job loss on Friday), that’s when we may see extreme volatility and fast market action.

2. What is the current environment and what are traders placing emphasis on when placing bets in a certain direction? In other words, what’s more important to traders at that moment? Is it fundamentals, sentiment, or technicals? Maybe a combination.

Example, in this current environment, risk aversion sentiment has been the dominant price action influence. On Friday, we saw horrendous Jobs report and USD immediately rallied against EUR, GBP, AUD, but sell off against JPY and CHF. This is risk aversion price action at work indicating traders were focused on weak global economy and not the US Dollar fundamentals. Then we saw USD/JPY rally along with other classic carry trade pairs and higher yielding currencies against the US Dollar. This is a sign that risk tolerance grew.

So, there’s more to after event price action than if the data was good or bad for the currency. Paying attention to these additional factors could help improve your odds of a successful trade.

[majorusa]

It’s ok now. I fixed it by removing some spaces in the code and compiled it.

Can you post the recompiled EA please. I am experiencing the same simptoms on Vista. Thank you in advance.

[jorokit]

if you want a great EUR/USD system which will net you around 45 Plus pips a day here it is & its simple.

Been back tested.

30 min Chart
Macd normal setting’s
parabolic SAR

That’s all you need

When the first /second or sometime’s third Parabolic SAR dot appear’s and the macd cross Go long in a up trend and the opposite if in down trend exit on the changing of direction.

Good hunting

Jim

Hello James,

I am going to use your 45 pips a day system sounds great but the macd in my metatrader platform has only one trend line nothing to cross is there something i am doing wrong thanks.

    Regards.....
        JP

[mariuspa]

Hi JP,

Take the time to read through this post, and somewhere in the first pages you will find an attached iMACD indicator that has two lines and the histogram.

Regards,
Marius

[stifland]

Jim, in this shot above. Isn’t exit also an entry Long?

[THEONETHATGOTAWAY]

if you want a great EUR/USD system which will net you around 45 Plus pips a day here it is & its simple.

Been back tested.

30 min Chart
Macd normal setting’s
parabolic SAR

That’s all you need

When the first /second or sometime’s third Parabolic SAR dot appear’s and the macd cross Go long in a up trend and the opposite if in down trend exit on the changing of direction.

Good hunting

Jim

after scandal on ‘his’ other system, i wonder who and where james stole this idea from…

regards

totga

[Johnnypipex]

after scandal on ‘his’ other system, i wonder who and where james stole this idea from…

I don’t see anything there that says “Trademark” or copyright etc.

You really need to move on to other things. How about contributing something positive to this forum instead of continuing on your personal vendetta?

[THEONETHATGOTAWAY]

I don’t see anything there that says “Trademark” or copyright etc.

You really need to move on to other things. How about contributing something positive to this forum instead of continuing on your personal vendetta?

just cos ya cant see trademark or copyright, dont mean it aint been stolen from someone else, hes good at that ya see.

how and what I contribute to this forum is nothin to do with ya, so johnnypipedown

anywayz, the outing of naughty snakes like james i feel is positive for the forum, so ya are welcome

regards

totga

[fxster]

There is one thing that is so difficult to do.
It is very difficult not to buy/sell when the MACD haven’t crossed yet, but are close and the SAR indicator tells you that it is a good time to act.

I’ve ignored that about 5 times now and I did make a profit 3 out 5 times but it’s risky. But the urge to act is so great.

Time to go back to pipsology classes…and learn a thing or two about dicipline

[fxster]

I’m really pretty new to this as well but I can show you what I do visually. I’m very conservative, so I only trade with the MAJOR trends. I hope to get better with this but for now it works well. Here are two pictures of my charts on the same times. The green vertical lines indicate entry and the red vertical lines show when I exit.

From your attachment, it seems, the 2nd entry made lots of gain.
But for the 1st entry, there doesn’t seem to be making any gains.

Correct me if i’m wrong.

[fxster]

Hi
just showing two possible exits one conservative and one aggresive

Hi James,

I’m new here, forex trading as well as those EAs. Not in technology background.

Juust started running thru this great thread i found, and thanks for the systems. Indeed a holy grail for me.

Anyway, my question is once the MACD crosses, do u enter at the first dot, 2nd dot or 3rd dot?

I guess it depends on how conservative (wait for 3rd dot)/agressive (on the 1st dot) u want it. But normally at which dot u enter?

Also do i enter the trade if:

1. MACD just crossed, but PSAR already have 4-5 dots?

2. PSAR dot just formed, MACD has crossed for few bars already?

[fxster]

Ok, so after getting a billion requests and PMs here is my EA for this system. NOTE, its not perfect, but all the logic from the system is there. It can definitely be improved upon, as in its current state it appears only somewhat profitable and that might just randomly be so.

There is some generally messy code and laziness involved because this wasnt my main project. There also plenty of optimizations that can be done and entry/exit Logic can be improved upon. Perhaps some more trade filtering, or timefram adaptation or for other currency pairs. I have not extensively tested this.

This should really be more of a start for some one who wants to make a very good EA from this system.

I will answer some questions and such if you have any. Like what the heck ValidTimeframes are for this program. obviously new cross of the MACD and fresh signals from SAR dont occur at precisely the same exact time. So there should be a window in whatever number of minutes that the new signals could occur for it to be a valid entry. Too small a timefram and very little trades will be placed, too huge timeframe and it will give false signals.

questions, comments, etc.

Thanks eight10,

Do i copy the unzipped file into indicators or somewhere else?

I copied it to indicators, but seems no effect. Did i do something wrong there?

[FOREXMARTS]

if you want a great EUR/USD system which will net you around 45 Plus pips a day here it is & its simple.

Been back tested.

30 min Chart
Macd normal setting’s
parabolic SAR

That’s all you need

When the first /second or sometime’s third Parabolic SAR dot appear’s and the macd cross Go long in a up trend and the opposite if in down trend exit on the changing of direction.

Good hunting

Jim

Hey guys i have added something that might help.

To confirm a trend, add a 60 min EMA(EXPOTENTIAL MOVING AVERAGE). THEREFORE WHEN MACD CROSSES ABOVE 0. AND THE CURRENT PRICE ABOVE 60EMA THEN THE TREND IS A SURE LONG OR BUY AND THE OPPOSITE OCCURANCE IS FOR A SELL.

[nocanda2]

Hi, guys, I’ve traded this great system live for about 2 months and have realized that even when it fails it is a signal for a major reverse trend so what I’ve been doing is setting an opposite order 5 pips below the low of the candle of the first PSAR. It has consistently made my losses back and then given some profit as well. Thanks James for a great system… Maybe the “Holy Grail”, however I’m still trying to find more pairs that accept this system… any input guys?

[Roguepipper]

Hello Nocanda2, good to hear that someone is doing well with this system.There hasn’t been much activity on this blog lately, could you tell us a bit more about how this system signals a trend reversal? Are you saying everytime it doesnt work it means there is a major trend reversal and not just a temporary swing in the other direction, if so I can’t see it… Do you set the hedge position each time you trade? Would be grateful to hear more about your system.

[nocanda2]

Turns out that after I posted that reply I had a trade that broke the rule, i.e. it stopped out but did not continue and instead kept moving in the direction of the trade, however this is the first time so let’s see…the 60 EMA seems like a credible filter. Also I’ve tried to attach a picture of the failed trade. The red arrow marks the entry candle and my target is 40pips.

[extraneo]

This system works on the 5M TF?

[fxster]

Hi, guys, I’ve traded this great system live for about 2 months and have realized that even when it fails it is a signal for a major reverse trend so what I’ve been doing is setting an opposite order 5 pips below the low of the candle of the first PSAR. It has consistently made my losses back and then given some profit as well. Thanks James for a great system… Maybe the “Holy Grail”, however I’m still trying to find more pairs that accept this system… any input guys?

Hi nocanda2,
What did u meant by “opposite order”. Can you give example?

[nocanda2]

If I was entering a buy then I would a place a market order for a sell in case of failure of the move.

[Jaynesh]

Hello

I have been testing this system out using using the daily chart.

I am using 23 currency pairs. I take my profit at 30 to 40 pips per trade - nothing more! Why? Because that is more than enough =D Looking at the chart history, 100-300 pips is possible per trade.

I receive 1-3 signals per day with all 23 currency pairs combined. Their may be some days where I recieve no signals but with a system that is almost 100% - I cant complain =)