yes yes yes we need something more how about only trade it a sertain time and also some filter or something like only take long position if the candle before we enter long is an upcandle higher close thanopen
best regards
guys, potential trade situation forming on 4h eur/usd
green candle is first and going up, trend is up… now waiting for next candle in an hour and some retrace…
lets see how does it go 
To BoyFx,
Very simple strategy, very easy to trade. But I find myself wondering when trying to apply whats the little stuff you look at that may say though this trade looks valid this invalidates it. There are a few times where we don’t get a pullback or we get pull back on one candle and the next candle which could turn out to be too much pull back hitting stoploses. Possible example.
The signal candle is really big could this mean this really isn’t a good trade, also look at the next candle, it pulls back only a third of the previous candle should we base the entry off of half the candle anyway, the next candle pulls back a little more about half the signal candle but I’m thinking well we have a lot of fib players out there and it only retraced to 23.6 most popular retracement is 38.2 should we base the entry off of that? I aslo wanna ask should we be cautious that 3500 is a new high for the Euro, and it may soon be splummiting downward. What do you see when you look at this picture?
P.S. I entered at 5544 and am up 14 pips currently.
I plan to do a manual back test on this system from january to now and I will get back to you folks with the results when I’m done. 
Jordan
hi jordan
you pin-pointed the problem.
the idea seems to work on number of occasions, but filtering more precise situations for a (successful) trade is what we’re here for.
like i said few posts ago, it would be ideal to confirm that the consolidation in a form of the second candle ends around half of the previous, then goes our way (small fib bounce).
i entered @ 1.45571, and got out 3 hours later with 15 pips (150 pipettes) profit. for this trade, however, i used other indicators also (that i currently use) since we didn’t develop trade rules completely.
i guess i didn’t keep it too simple for now
now when i think of it…
how about something like this:
h4 shows potential trade, when the candle is formed, draw fib for that candle, then go to h1 chart and watch. if it bounces of 38 or 50 channels, we may have valid trade. that happened yesterday…
what do you think?
(i know i’m not boyfx, but just wanted to give my opinion)
bro boyfx,
if you are only using MACD Histogram only, why do you still need Wattar attar trend? what is it used for? thanks
like to check with you, you were saying for you must wait for the 1st candle to close then wait for the 2nd candle to go around half way up the previous candle then enter. If you were talking about TF of 4 hours, that means i have to wait for 4 hours to wait for e 2nd candle in order to take any “action”?? thanks
Yes, MasterIllegal.
I wanted to address this. Since we are on the 4hr TF it is like working more for little profit but the title of this thread is!? 'Keeping it simple with 30 pips a day. Some of us trade different times of the day so what we need to do is play around with this to see if we can set up oco’s with specific parameters which may be MARKOC, fib levels, but still have the same success rate as if we were watching the whole time. That way it’ll take time but we won’t be stressed out staring at a screen for so many hours.
I’m going to begin back testing this today from January, on the 4hrand the 30 minute charts I’m gunna play around with different rules and indies and see what I come up with and I should have the results back to you guys tomorrow or Saturday.
Sweet indie BoyFx
Jordan
So I’m sitting here trying to back test this thing and what I’m finding out is that fibs hit sometimes but not all the time, I see that MOST of the time price will not move above short signal candle or below long signal candle without moving a good few pips in position favor especially in an established trend. So what I will do is run through opportunities on 4hr and 30min charts and I will list fib levels that were hit after signal candle.
Since it would be defeating the purpose of the thread I won’t go over 30 pips profit. But i will say you can’t really practice good money management on the 4hr chart with 30 pips ok I’m off.
Jordan
Looking pretty promising guys. To keep you interested I’ll hit you with some numbers.
I’m on the month of January still eh, day 16, lots of numbers I’m gunna stop for the day. BUT from the 2nd of january 2009 to the 16th I have…
150 pips, taking our simple 30 pips on everytrade, but with a running along the trend from the 2nd to the 16th…610 pips!!
230 pips trend trade, 30 pips counter trend, 320 pips trend trade, and 30 pips counter trend. we’ll see how it goes.
Jordan
Hi Boyfx,
Thanks. The system indeed sounds simple. But seems unsuitable for me. I only have 2hrs to spent a day for fxtrading. Just a couple of question tho:
-
As your looking at 4hr chart, how many trade opportunity you have made (regardless of win or lose) in a week? and hour many hours you have spent in a week?
-
From the chart you posted, seems like no opportunity for me to trade.
As the condition is, once the MACD turns color, the 2nd bar seldom reach back to the middle of the 1st candle. Normally the 2nd candle will just go further. Thus no opprtunity to trade.
Hi, keep us updated on the good news… thanks…
and let us know what time frame and indicators u r back testing… thanks man
God this is boring lol. So many numbers.
Anyway still lookin’ good.
9 opportunities.
30 pip trades - 9/9 - [B]270 pips[/B]
Running trades - 8/9 - 1003 (-61) - [B]942 pips[/B]
Jordan
Hello boyfx,
I don’t want to crash your party but couldn’t resist taking a look see. I see some questionable things going on here with the MACD. If you wish for me to comment further I will, otherwise I will leave you alone to fend for yourself. If simple is what you’re looking for I have a better indicator than the MACD for you to test. It will improve your entry and exit signals and will work on all time frames.
Wish you well,
Johnny
Jonny speak you mind i see no rerason not to…
best regards
We’re listening.
-Jordan
Hello All,
The chart below shows the result of the indicator which you can compare with the ones posted here.
GREEN VERTICAL DOTTED LINE = BUY LONG
RED VERTICAL DOTTED LINE = SELL SHORT
What ya think Guys? Gimme a few comments.
Johnny
JohnnyB,
I honestly don't understand what you're doing.
-Jordan
Ok I understand now, are you willing to share the indicator?
-Jordan
High All,
To keep confusion to a minimum let’s do this a step at a time so you can demo this for a bit and see how it works first before moving on to the next step. Notice the better entries and exits were on the M15. Ask yourself why this would be true. At the same time ask yourself why you are trading on the H4. Try this for an exercise. Look at the M1 on this template and see if you can improve the entries and exits by moving the red and green vertical lines left or right on the chart. Posts your comments.
This is template #5 with the Bollinger Bands set at 12 and the color Yellow.
Lesson #2
The Bollinger Bands
NOTES
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Price action will move from the bottom line to the top line and back again.
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In a countertrend the PA sometimes hesitates on the middle Bols line and the PA will reverse continuing the dominant trend. The sharper the angle of the PA (Trend) the more likely this will occur.
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Taking a countertrend trade with the PA on a very sharp angle is not a high return trade and very dangerous to your bank account. Most reverse trades will end very shortly after it begins and even if there is a little movement down the risk/reward is not good.
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An excessive move beyond the Bols upper or lower line generally will bounce abruptly down. Taking profit at the high point is generally the right thing to do.
UPTREND RULES
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As the PA hits the bottom Bols-12 line in an overall uptrend, it is a buy signal. The PA may continue down even further or reverse and go up. If you currently have a �Short� position you may want to take profit now. The decision to wait or �Buy to Cover� your short is entirely up to you as is taking a Buy Long position.
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When you are in a �Long� position and the PA has moved in your favor it will go to the upper resistance level and eventually reverse which in this case the PA will move down from the upper Bols-12 line. The greater the angle of the uptrend the less likely the PA will go down all the way to the bottom Bols-12 line at least until it has completed its upward move. The PA will turn at the middle line of the Bols-12. The middle Line therefore becomes a major line of profit.
DOWNTREND RULES
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As the PA hits the top Bols-12 line in an overall downtrend it is a sell signal. The PA may continue up even further or reverse and go down. If you currently have a �Long� position you may want to take profit now. The decision to wait or �Sell� your Long position is entirely up to you as is taking a Sell Short position.
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When you are in a �Short� position and the PA has moved in your favor it will go to the Lower support level and eventually reverse which in this case the PA will move up from the Lower Bols-12 line. The greater the angle of the downtrend the less likely the PA will go up all the way to the top Bols-12 line at least until it has completed its upward move. The PA will turn at the middle line of the Bols-12. The middle Line therefore becomes a major line of profit.
johnnybsmart-5.zip (1.45 KB)
Hey guys,
Sorry that i havnt been around, computer died once again:mad: have to go through the thread to see what i missed;)