Ok. I did set up 4 small long positions based on PSAR with TPs. As soon as I’m up 10 pips or better, I may just close them all.
Also.
As part of my long-term strategy to move to higher timeframes for some trades in my “retirement” years, I am continuing to trade mirco-lots on daily charts with a much tighter PSAR. The only real reason is that I hope I won’'t have to do anything more than look at the charts once or twice a day.
So here is one with a pending buy order with PSAR set to 0.009 / 0.1
Heading off to work.
Summer’s coming!
If you’ve never seen Lake Michigan, its like a freshwater ocean. Michigan residents have taken the 5 mile drive across the Mackinaw Bridge for 50 years.
5 Likes
Have a look at EURJPY. Grabbed 3 big winners there in the last 24 hours.
1 Like
I haven’t been using PSAR. I have to give it a go. I’ve been reading a ton on Ichimoku clouds, but it’s best for higher timeframes so not sure if I can use any of it here.
@samewise
I use the PSAR mostly for three reasons. As an indicator that will send push notifications to my phone and for stop loss data and for Octopus set ups.
Okay. I was really starting to doubt that Eur / USD long trade.
Hi Everyone,
Wow, amazing to see this thread is still going strong and nice to read some success stories!
Just to update you all, I continued working with the strategy for a while but, ultimately, I couldn’t produce consistently good results on EUR/USD or any other price chart. I tried various tweaks but, unfortunately, all to no avail. I’m not saying the strategy isn’t profitable, perhaps it is, but I just couldn’t make it work for me.
I did make one revision that was able to produce some really good profits.
-
I scrapped the 6 EMA and kept just the 32 EMA channel and the 14 EMA.
-
I added the ATR indicator to help with placing my stop loss.
-
Buy and sell signals remained the same as with the original strategy.
-
I changed timeframes from the original 5m charts to the 1H chart in order to look for significant zones of support and resistance. After identifying any such areas I marked them out on the chart, as with the screenshot below.
-
I then switched down to the 30m charts from which I would trade. 30m charts seemed to be optimal in filtering out false signals and ensuring the moves were big enough to capture a good reward to risk ratio.
-
If a buy or sell signal occurred at or near one of the support or resistance zones I had marked out, it had a very high win rate as can be seen at a glance on the recent screenshot below.
-
I would set my stop loss at 1 x ATR from whatever the recent swing high or swing low was.
-
My take profit would then be set at a risk to reward ratio of 1:2.
Using AT’s strategy in this way on EUR/USD and some of the Yen crosses can produce really good results. In reality, you are simply trading support and resistance and using the strategy to look for entries.
If you are marking up your support and resistance zones correctly on the advised timeframe, there aren’t a great number of signals but the signals that do occur are all high probability. It’s perhaps not the only strategy you should use but it’s definitely one worth keeping in your arsenal.
I have found this thread very interesting to read through and I’ve enjoyed tweaking AT’s original strategy. As a thank you I have shared one of my own strategies which you can find here:
Good luck guys, happy trading!
2 Likes
Just closed a win (PSAR on Eur/Jpy 15M chart). 2 entries. I for 31 pips and 1 for 29.
1 Like
Here is the volume indicator for MT4 with buyers and seller’s volume. I did not make this. It came from a poster on Forex Factory, so take the usual precautions.
I just used it to make my last win. Based on using it for a few days now, If you see 3 or more buyers and zero sellers: Price is probably going up. If the buyers are 7 or higher with zero sellers, that candle is moving up pretty good. It reached 14 and then 22 buyers to zero sellers and that’s when a big green candle formed.
TicksSeparateVolume.ex4 (14.6 KB)
Here is a Heiken Ashi button made by the same poster.
Heiken Ashi AutoWidth (Andrea).ex4 (17.8 KB)
2 Likes
Euro/usd long position doing well.
1 Like
Closed at only 11 pips profit.
yup - unexpected reversal, there
still, a plus is a plus 
1 Like
Got caught going the other way. Was getting too confident and open a short NOT using the system. Sad face. Welp, you learn.
1 Like
Overnight my Nzd/Usd long hit for 15 pips profit. Otherwise, sleeping in today cost me HUGE on all my other pair
Magnificent pippage this morning using one minute euro/usd with 25 and 150 EMA crossover with PSAR.
A truly great day.
If everyday was like this I would only be posting once in awhile from one of my vacation homes.
Probably the big one.
2 Likes
My post above is with the PSAR at my latest favorite setting for these 1M charts.
0.0009 / 0.015. Its a little tighter at the end but still gives enough room for most SLs.
And you just get in on the switch, right?
@jdtradesfx
I was getting in after the ema cross and using PSAR as SL.
Could have entered on PSAR change. Seems to work either way.
I like easy!
Hope you had a good day too.
I’m at the point where I am just a few dollars short of my monthly goal and hoping I don’t blow it tomorrow 