Thank you, I have a lot of self discovery ahead of me if I am to be successful in this business. My business plan is currently quite lengthy, and this system will be incorporated into it in the next few days. It might not stay there, but it’s a good start, and the only fairly mechanical system that I have felt comfortable with. The challenge ahead for me will be associated with bringing my account up to a primary income generating level.
I’ll have a hefty sum to invest in about 15 months time, where earning 3% per month will pay the bills, anything extra will be compounding.
The psychological leap from trading my current micro account, to that will be significant.
Working to achieve the same goal and get rid of my J.O.B. (Just Over Broke).
It was recommended to me to read [I]The Disciplined Trader: Developing Winning Attitudes [/I]by Mark Douglas. It may take a few reads but there is a lot of information in there to help you. Be prepared to take a hard look at the type of trader you are and work to understand where you need to change so you can succeed.
Another good book I was told to read from Douglas is [I]Trading in the Zone[/I].
Anyone here is expert for MT4 program? If yes, I can share some trading system for your program and share with every body here.
recently I have to take care of my kids so that no time for manual trading. So I would like to find some can convert the trading system into auto EA.
I can get 1 to 3 trades in a day or over a couple of days. It depends on how the market is going.
I also trade the other major pairs as well.
I also wrote a crude EA that alerts me to a trade confirmation on a chart. It also calculates and displays the Lot Size, Opening Price, Stop Loss, Take Profit and the Trailing Stop value in points. It helps me with making me aware of opportunities that are on other charts when I am looking at another chart.
Thanks for the response, makes me more comfortable with the system. I guess I would speak for a few following this thread, if I was cheeky enough to ask if you might consider sharing the EA? I understand that you have put time and effort into its development.
I’ve been sat at home with my 3 year old with Chicken Pox today, it would have been excellent to have an audible or email alert as to when an opportunity need closer scrutiny.
As the signals are EMA9 & ADX14, it should work on any pair in theory. I have been trading it on the majors with some success. I watch 7 pairs; AUDUSD, EURUSD, GBPUSD, NZDUSD, USDCAD, USDCHF & USDJPY. I would say is run it on either of the pairs and determine if the rules work for you. I caught a total of 22.7 and 37.4 PIPS today on the pairs you are asking about.
As with any system, you just got to learn it and abide by the rules. After you become familar with it and start getting a feel for the markets, then you can adjust to it.
vincejg327, thank you very much for sharing this interesting system. I’m very impressed, it really looks very promising. As a matter of fact, I registered because I wanted to participate in this thread.
I do have some questions:
1). What time of the day do you trade?
2). If your were a full time trader and could choose any time to trade (day or night), what time of the day would you trade then?
3). Do you watch all the currencies all the time or you watch some currencies during NY only, some currencies during Asia only etc?
4). Do you pay any attention to the Price Action? For example, would you enter after a very long (40+ pips) candle?
5). When you trade M-15, do you pay any attention to the H-1 trend? Would you enter against the H-1 trend?
I hope you find Babypips helpful in your trading. It has for me.
A1. All times GMT. I trade from 11:00 to 04:00.
A2. I would trade the over laps of the markets about 2 hours on each side.
A3. I pay attention to the 7 Major pairs. I use an EA I wrote to alert me to possible trading opportunities relating to the Enter and Exit rules.
A4. If the action is very small, I do not trade. I prefer an ATR14 over 0.0010
A5. I only look at the current TF (M15). I have been using the system on longer TF and have found some success. I have found I needed to keep the order open longer and adjust the SL & TP accordingly. Still adjusting it.
This seems to prefer the trending market, an excellent 4% today, will treat this like my real big money account in 15 months, now being very very selective on trades for the rest of the week!
