I was reading on this thread all day today…wow seems like a solid system, downloaded and got the indicator running , starting to test on demo tonight.
btw. I have traded in the past but want to get back into it again after testing many diff strategies and systems, and this one seems pretty straight forward
I’ve just set up vTerminal to learn the system on past data, and the first thing I immediately noticed is that 20 pips is a LOT…
Anyway, a couple of trades went well, then I hit the one that is attached. What could be the problem here? Is this angle of the 50 EMA considered flat? I entered at the first vertical line, got stopped out at the second.
I’m not sure the support and resistance lines are displayed correctly due to this being a backtest.
hello,
God day today. had few trades all with small takeproofits 4 trades with 10 tp. the reason is little fear. my knowledge about fundamental analizis is veary poor and this day is all in red so I decided to take small today and got lucky all four in the pocket.
P.S I’m sorry for my englich this is not my native language
As I understand, in this system entry must be placed after pullback in trend direction with confirmation of indicators. so we need god trend. the pullback I like to see must be not veary deep if not its not safe entry and I am sitting on needle. If you look closer in your pic you’ll see trend with three small pullbacks. First was quite ok second too deep and the third is dangerous becouse before Lower High was formed. so I wouldnt take this trade
Hi Janqie, the zip file that you posted isn’t working for me. I would really like to have your white background template. If you can maybe try re-uploading it… or I’m not too sure what the problem. Have tried on both PC and mac…
In my opinion this is to late to trade. this trade is in the end of US session and the market has no big movements. I would backtest this system during more active times like london session and london + US session. when the market has activity this system works just great
You’re welcome! And thank you for wonderfull system and your experience shared here. I’m still newbie in forex and have tryed many systems and had not much, but this one is just great! still trying to learn more with it but I see the path
It does seem to be a really great system. Reading the rules, and looking at the charts in this thread, the entry points seem so obvious. Going on a real chart on the other hand is a completely different story. I hope I can gather all the “why I shouldn’t have entered this trade” elements.
Please let me know if you’ve had enough of my questions.
Until then, here’s the next one. Downward trend for quite some time, small spike, middle of London session. My TP level was just above that support line, if the price had touched it, I would have been out with a win. But it didn’t go close to that, instead it started up. (I use a TP of 10, and a SL of 20, this is still just backtesting manually.)
Its ok you can ask we can learn together I think this entry is god but risky cause of resistence level. you can grab few pips but the price realy dont have to touch resistence level. it can reverse by few pips from uper or even lower side so in this case you would have to be veary carefull
I am going to bed now cause its late here in eastern europe
Maby tomorrow we can discuss trades together too? its god to have to think about and learn
god night
Ati, Janqie’s answer was spot on (but i think he meant support). So, yes those lines are everywhere, but you still get plenty of trades…watching a few pairs at active times. I can see just looking back on the chart you posted, that there was a good entry to the left. If you want that high win ratio, the setup has to be just right. If you get 1 - 3 trades a day, you are set. The profitable traders I know, dont take 12 trades a day…only the newbies do.
btw, don’t worry, ask all the questions you want…Janqie seem to have me covered.
I’m just wondering if anyone has thought of turning this into an EA. I guess the problem would be to quantify in numbers exactly what “Enough Volume” means, and how close is too close to a major SR.
There are ways around it, but I’m wondering how much of the trade is “gut feeling”, and how much is sticking to the rules?