Anybody tried to code the startegy into an EA?
Hello, first post here and i am starting with a really simple question. I have been reading trough this and other forums and it seems that a good profit percentage to expect for an experienced trader would be anything between 10 to 20 percent monthly, so I ve been demo testing this system and it actually works, not all the time, but it sure does work most of the time.
So, the question is, if 45 pips gets you 450 USD on a regular lot. Then wouldnt you been making at least 9000 montlhy?
I know this is the 9% of a regular 100 000 lot…
but what about a decent leverage on the account?
with a 40:1 leverage (you only trade $2500 from yours)
wouldnt you be making about a 375% per month?
I KNOW this is too good to be true so my question is WHERE DID MY CALCULATION WENT WRONG?
is it really possible (i mean really and practically doable) to make 9000 out of 2500 USD every month?
tnx for your replies!
And what is the reason for not using stop loss?
Its possible. Also possible that you will loose all of it withing 10 minutes:)
too good to be true
Just a helpful hint for people getting hosed by this system - do a little reading on elliot wave or gartley/butterfly patterns. I wouldn’t trade SOLELY with these indicators, but if you’re already expecting price to reach a certain convergence level, these extra indicators can reinforce your visual patterns and make it less of a risk while trading the legs of the aforementioned patterns.
Even “elliot wavers” camp devided on a begining of that thing. So go figure. And there many interpritations of the same conditions. Its like a bible - impossible to follow everything it says because it condradict itself . I’m yet to see a good prediction by Ellioters, only drawings of what had happend. But whatever works.
I wasn’t singling out EW in particular, but if you pair these indicators with a set of visual indicators (i trade gartley/butterfly patterns), they do help reinforce your trades.
Like others I’ve seen on the forums, I find that using both together works best. I use meta trader and an unlimited demo account for charting and for sending alerts to my phone. Then I place trades with Oanda FXTrade mobile on my phone. I find trading with mobile best because good setups can happen any time and I find being able to enter / exit a position from anywhere very useful. Your only alternative for that sort of coverage is to have an EA running and trading for you.
That said, unless you have the time / ability to sit in front of a computer all day waiting for the signals in this system to happen ( sometimes they can be very infrequent ) I don’t see how you could do it with just Oanda’s platform since that platform doesn’t have near the options that Metatrader does for enabling you to send alerts. Metatrader’s basic included features allow you to send emails, make sounds, pop up dialogs, etc. If you’re a programmer then in MT your options are basically unlimited - you could make metatrader send you instant messages, whatever you wanted. Oanda as a company has something like that for programmers, but utilizing it is $600 / mo from what I understand.
There is one in this thread by eight10, but I didn’t get it to work on my MT4 (error messages).
This is what my MT4 looks right now.
As you can see there is the downward cross, but there have been 9 dots already. Is this still a good signal to go short?
Thanks in advance!
Well, I guess it would have been: MACD cross was at 1.2264, 5EMA and 10EMA cross was at 1.2269. The low after that was at 1.2203 -> Could have been a 60 pip trade. Nice.
So I have been looking but cant find it. Is there an MT4 indicator for this system. I have back tested it and it looks great. If I have to I will watch the screen for my indicators, but like anyone else I would like the system to tell me when to trade.
Thanks
The one I mentioned earlier is in this thread at post 312, but like I said I get error messages.
I have been demoing this system, and have found it quite profitable. My first week with it was tough but I think the practice was what helped me the most this last week has been much better.
So far I traded the system on my MT4 platform. Looking again at post 1, I noticed it’s a screenshot from Oanda, so I went and openend a demo there. There’s a difference in the SAR and the MACD indicators.
Hopefully you can see what I mean by the screenshot. The orange line is where I took the trade in Oanda. Looks like the Oanda SAT is “quicker”?
BTW, the trade closed at +100 pips 
Where is James is he still running his live trading room?
James was run out of Babypips after it was discovered that all the info he provided was plagiarism.
Im going to try this strategy from Monday -> Friday on both EUR/USD and GBP/USD. Will post results Friday!
