Hey all,
Another question for you all. First I want to say that I love this system really simplifies trading for me. Now my question: In the first post it was said that looking at some recent data that the average move was 100 pips before reversal. i was wondering how to figure this out. Is it an indicator or just some good old pen and paper math. thanks
The simple systems can be very effective. The problems most traders have is their ability to contain their emotions when moving stop loss levels and getting greedy with take profit levels.
I am however very sceptical that it can reap 100pip per day profit. Itās more likely a 55/45 win/loss type of system, which takes a lot of time and discipline to even out the bad patches.
I have been testing on a demo and a small live account for about 2 weeks now and if you catch 3 trades a day You can bank 90 pips. You are correct in that it takes a lot of discipline. I have had days that are over 100 pips, but also ones where I am at 30 or 40. Thought maybe I could help cure your skepticism. :22:
Thanks for the feedback. Maybe I should look at coding it into a basic EAā¦ It shoudnāt be too difficult. Anyone else tried something similar?
I would love if this was an EA. That would really make it easier lol. I havenāt been able to find anything, but like it says under my username. I am just a Newbie.
This doesnāt work. I know it seems working if you see the past performance, but it doesnt. Past performance doesnt guarantee future performance.maybe thats why the creator of this thread left. At least for me it doesnāt work so proceed with caution.
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@Payahbla
what is your reason for saying so?
Can anyone affirm this claim?
Hi Everyone,
Works for me. Like any system there is risk and it does take time to master it and use your experience to choose your trades.
Matt.
Hi everyone,
As I stated above, it is working great for me. I am averaging 60 pips per day. With a 66% win ratio. Most of the losses I have taken we not because it hit the stop but because i got scared and jumped out prematurely.
Every system has its own criteria and characteristics which needs time and expertise to master. No system is fully profitable. All depends on whether it suits you or not. Itās true that past performance never guarantee of future profitability but then again, tell me what exactly in FX market can give you some āguaranteeā of profitability? The only thing you can be assured is that if you donāt trade, you donāt lose. Technically true. MA crossover systems are some of the oldest and most basic setups of FX technical analysis which still kept making our pockets heavy. This system might not be good for all but since so far it works good for me, I am thankful to the thread owner for sharing this with us.
Hey! Good to know that you are doing great. Which pair(s) are you applying this strategy? Iām using on EURUSD, AUDUSD, USDCHF, USDCAD and sometimes XAUUSD(DEMO only). Iām avoiding GBPUSD for this system because sometimes it tends to get notorious and gives large spikes. Just my thoughts. Cheers.
Hi,
I agree with GENT3861. I take profit at 50 pips and have about 50-60% success ratio, major reason is that I jump out prematurely, I figure its better to get out while ahead. Good Luck fishing pips.
Nicely said
Do you trade with the original rule or you add other indicator to filter trades?
Hi,
So far I have been only trading with the original system, If you see, yesterday EURUSD would have given a BUY signal for 70 pips, and today SELL signal for about 130 pips. However, as I said Iām very nervous to be around a trade for long, so I get out at 50 pips always. 50-60% of the trades you come out good with this system, the rest of the trades I end up not gaining any pips because I get out on an even when I see the trades swinging wildly, sometimes my SL of 30-40 pips is hit by the wild swings.
So far this system, has been good, you need to apply your experience and work at reducing the noise signals, you will do just fine.
Iām working on coding an EA for this strategy to implement in my live trading room. The room is under construction and will be ready by the middle of March.
The site address is www.LiveForexTrading.info
Iāve done some back testing and using a strict rule doesnāt seem particularly profitable, it begins to become profitable when some discretion is used to avoid major resistance points and major supports when setting take profit and stop loss levels.
Any advice on strategy tweaks would be greatly appreciated!
i have been using this strategy on my own real account. somedays it gives me such amazing profits. but some days as i take the trades i see my SL hit quickly. for using this strategy i think we firstly need to know the market dynamics and the fundamental stuff.and then this strategy lets us get on the trend train and thatās itā¦ to jump in with all the signals would make us may be still profitable but not as good as we would like to seeā¦ when you know the fundamental stuff and the S/R areas then you donāt need this strategy at all because you can make your own very right decisions. until that,you need to use this strategy and face off with all the possibilities i thinkā¦
so where is this cross over system,how do i see it
See the first page of this thread Bro.
I have a question about the entry, may be the ans was previously discuissed elsewhere but asking once aging or asking a new question isnāt so bad, so plz any one if he/she tried this system - plz ans me, below i attached a pic and i asked exactly where to enter according to the situation i found?
direct link to this pic http://i40.tinypic.com/wsvhar.gif
thanks from
cda08