If by 50 rule we mean stay in until price crosses 50 or 0, I find RSI (5),
CCI (14),and DiNapoli 6 3 2, are all much the same, and none have a
significant advantage
However ADX (13) at exhaustion point is far more reliable and gets you out without giving too much back, unlike the aforementioned indicators
In the interest of transparency, RSI, CCI, DiNapoli
can sometimes keep you in longer for more profit
perhaps in a strong trend scenario
I donāt have dinapoli, so itās the built in stochastic from MT5 set as 8 3 3 (the same settings as TWB picture on the chart). The indicator is slightly different visually, but not very much.
Entry is when the stochastic crosses above 85% (short) or below 15% (long).
Exit is when we get a sell signal, or when a long position goes above 50 and then turns around the other way. If it stays below 50, the position stays open. For short itās the other way around.
Thereās definitely times when it goes wrong or nowhere, so manual intervention will probably help, but for my test Iāll probably just leave it and note where the price would have been if I had decided to intervene as a comparison of where it ends up.
Oh and I also backtested 2016 after I posted that. Not as impressive as what I showed before, but it was still profitable across the whole year.
Iād like to comment some more but I have something to take care of quick.
But for now:
Iām sure I donāt have to tell you that it doesnāt matter if the gains are not quite as stellar. Itās that slow and steady equity curve and without huge swings in profit and loss that counts. I am so sick and tired of hearing about +1 000% gains one month and then silence for the next three (sometimes even permanent silence). The outcome is ALWAYS the same. But just you try explaining that to a new trader (even some experienced traders for that matter!!!
Anyway. Later. Shortly.
You have proved there are no magic indicators or magic settings, some get you in and out of a trade quicker, whereas others will keep you from entering a bad trade, or keep you in a good trade longer
Browsing over TWBās CSW thread last night, I stumbled upon
the Trading View Screener
Very interesting!
I took note of the one currency that had far higher volatility than the rest
and took further note on those designated āStrongā buy or sell pairs
In all four cases PA supported these four pairs, so I opened a cent position
for test purposes
This morning most of my pre existing positions showed very minor DD
but these four test trades were all in profit, all seemed a bit toothfairyish
hardly an exhaustive test
but here is my cunning plan - this morning, nothing is showing as āStrongā
so I will monitor until something becomes āStrongā and then enter as
soon as PA permits.
So far this morning the only stand out pair is AUDJPY with highest
Volatility, and PA is very close to giving a Short Entry signal
Whereas previously, we saw WTBPS would have yielded
24 bars of profit on GBPCHF, whereas you would have
done really well with 50 rule, yielding 55 bars of profit
but 50 rule will very often give most of your profit back
In this case I found Easy Forex System would have been
the best option ie close above channel confluent with
ADX exhaustion for 37 bars profit but not much less pips
than 50 rule
This is not my new flavour of the month system, but I find
it worth consulting.
PS if ADX had crossed green over red, the Exit would also have been
a Reversal Entry signal to go Long, along with cross of white over magenta
but it didnāt cross, and as we see price continued down
AUDNZD has just shown āStrong Sellā on screener,
continuing its āStrong Sellā label from yesterday
Not the best PA but a convincing Railway Track
candlestick pattern confirmed by trend strength
system ie 84%
If you want me to stop posting here on this stuff you need to let me know and no offense will be taken I assure you.
Just took at look at GBPCHF now (still on one of my watchlists from yesterday). Wilderās TBPS would have had you long from the open last night and TP at pivot R1. Keen to see what happens today. If price were not so far from what the entry should have been last night I would have taken a chance as a test.
As stated yesterday: would also have been long and profit was made and position closed out even before I woke up in the morning yesterday.
Wilderās TBPS aside: it opened above the daily pivot for today anyway. So a reasonable pivot trade would ALSO have been EITHER long at market at the close yesterday OR a limit buy order AT the daily pivot (which would already have been executed and in profit at this time).
Iāve not started doing the TBPS calcs. yet i.e. I know the system well enough to know whatās itās signalling just by eyeballing the chart (most times anyway).
And this by the way is not a competition between trading systems at all. If anything itās a crass attempt on my part to see if I can with conviction punt a technical trading system that works on a FOREX pair. This just seems to be the right place to discuss it is all.
NZDJPY now showing next highest volatility of 0.36%, and D1
PA not quite there yet but note the full qualifying Entry signal
on H4
Anything that works can only benefit all
That would be pointless in the extreme, every single system and indicator
will yield astounding results at least some of the time, even a broken clock
is right twice a day
Iām finding more and more, that above pet systems etc, is to ascertain
that the market is actually going to move at all
thats why Iām very drawn to the Screener, ( and thanks to TWB for
highlighting its usefulness)
When it flags up a significant pair, PA and many decent strategies
will likely concur
Now that is funny!!! LOL!!! Very clever. Never ever thought about that.
Well for the hell of it and putting my money where my mouth is:
Iāve just placed a limit buy order right at the daily pivot (which for me is 1.22925). Just one full lot. Iāll post details of the SL and TP level and how I arrive at them shortly (just got something on the stove).
This is my Dream System
Its like a Treasure Trail mentality, Two Different resources say
the same thing, Two of the very best Forex systems are pointing
in the same direction
How can I possibly fail?
I donāt know, but I usually manage to find a way )
scās to follow
Iām pleased you donāt wish to clutter CJās thread.
One of us is clearly delusional.
I do read your posts, but like other successful traders on forums
you express yourself in a way that makes perfect sense to you,
but can be challenging to others, or perhaps just challenging
to me.
I will check back on your input on this thread, and if you have never
recommended a cross of DiNapoli over MA, I will take that as a
strong indication I need to keep out of the sun, and possibly even
seek professional help.
but yes its true, I do make it up as I go along. Currently I am seeking
to improvise on your Finviz/Screener recommendations
I make no apologies for that, neither would I take any credit when I merely
borrow ideas and recommendations from others
but to the matter in hand and to answer your questionā¦
What crossover were you recommending exactly if not the crossover of DiNapoli over your coloured MA?
You posted a screenshot in support of just such a crossover in which we clearly see that trading the cross of DiNapoli over the MA would have been profitable in nine consecutive cases
I am somewhat bemused that you would want to deny that you ever recommended such a cross of MA, when it is clearly a very profitable strategy.
My apologies if I have in any way misrepresented you, it would never be intentional, but just for the sake of my sanity, or to know that I am not alone in this Forex madhouse, I would like to know if anyone else assumed the nine highlighted crosses in the screenshot below, were in fact nine crosses of DiNapoli Stochastic over coloured MA, because I canāt see what else the nine vertical lines are highlighting, other than nine successful crosses of DiNapoli over coloured MA*
The only other possible explanation is that you simply enter when the Coloured MA changes colour, in which case you can scrap DiNapoli. So no, it seems obvious you are highlighting the crossover of the two, otherwise why include both in the window?
*BTW on MT4 I have a custom coloured MA but it doesnāt permit me to apply to first indicator data, in other words I canāt get it into my DiNapoli window. any suggestions? it can obviously be done.
No EMAā¦ was ever mentionedā¦ Overlayed the Signal was shown over and over and over againā¦
It was effectively a coloured DiNapoli Signal Lineā¦ Not an MAā¦ I tried to dumb it downā¦
So it now seems very obvious you didnāt read the information you where givenā¦
as opposed to pretentious? Overlay is completely different
to cross over? Even though you use the expression
ācrossoverā yourself? Foolish or not, according to your
screenshot, the overlay would seem to negate any need
for DiNapoli.
If my ignorance is showing, thats ok, I am eager to learn,
and to have my misunderstanding corrected.
if your strategy is above/below 85/15, is that actually what
we are seeing in the screenshot? and if the answer is that this is
not the timeframe you trade, why exactly did you post the screenshot.
It is actually very impressive after all
Which bit doesnāt make sense stillā¦ ChesterJohn picked it up and turned into an EA based Strategy in a matter of a few postsā¦ Mateā¦ I was trying to help you!! You tried your very best to make it failā¦
Sorry to butt in here:
For the record:
GBPCHF is about to hit its TBPS TP (where I would have placed it anyway).
Order wasnāt executed so no trade for me.
Definitely going to experiment with this pair and create the spreadsheet (if for no other reason than my cock is on a block on another thread to produce a technical trading system that works with this rat poison).
