41.7 Pips so far today, not bad, the last trade I was the first time experimenting with a tighter SL and I was stopped out. This whole system is still very new to me so I’m just getting the bearings. I’m using 20 BB and PSAR at standard settings as well as ADX, which kept my out of a few false signals today.
I’ll be trading this the asian session later tonight and trying out some asian pairs, I’ll report here when I’m done.
Question for you though: Do you enter the trade when the first dot of PSAR appears? Or do you wait for that candle to close and confirm the move (dot is now fixed) and open your trade on the second candle in the same direction?
Hi bro soul, may i know what are the indicators u r using for this system? Is it PSAR (0.02, 0.2), BB (20)? and what is the signal to enter or exit? thanks
I haven’t placed trades yet but yes those are the settings I have. I’ll be taking a closer look at these charts soon to determing entries and exits but from earlier in the thread it looks like entries are on the first new directional dot on the PSAR OUTSIDE of the BBs.
ReaperKK, Great to see it is working for you. Thanks for all the updates. I am new to forex and still learning the ropes. I have been trying to follow this thread from Icycload and figured that there’s gotta be a EA from someone by now that will give an alarm to buy or sell when the 1st. PSAR is outside the BB. Let me know if you come across any EA that fits the criteria. I want to keep it simple and only scalp a few pips a day 10 to 30. I am hoping this can work for me, as well as others who wish the same.
hi everyone
first of all, i came across this system yesterday (when post re-emerged) and did a quick back test. it seems that it’s quite good. i’ve took 2 trades on 30min, both profitable for total of around 30 pips. one was long gbp/usd which i took yesterday at 6pm gmt and closed with +18 pips 10 minutes ago since i had to go out. if i haven’t closed the position, i would be 222 pips up at this moment and trend still going up. i think that says something about the strategy
*ralar
in one of the posts someone attached a zip, i guess it is an indicator. didn’t have time to check it. if it’s not, i was thinking of making an expert advisor for this strategy…
*masterIllegal
i’m trading 30min charts, as i noticed, strategy is pretty clear (very little noise) on this time frame. however, i noticed lot less signals on 1hr charts (for example from 20 psar changes 15 are signals on 30 min, and on 1 hr from 20 psar changes, 10 are signals).
4hr chart again has more signals…
i didn’t check it on 15min since i don’t have the time to check every 15 minutes for change.
i’m using adx, volumes and stoch on my charts with bb, and when i added psar it all gives nice picture, however, adx is not helping me too much (maybe i can’t read it too good). volumes and stoch give me some (more) info what is going on.
just a disclaimer, i’m still a newbie (trading demo for a year + trading live for 4 months) so maybe i don’t read all that too well, but psar with bb seems to be sufficient if you’re following strategy by the letter.
on the other hand, i noticed that volumes, adx and stoch help me to predict reversal inside the trend, and allow me to try to catch to lowest/highest point of the trade. it’s shortening the potential profit, but also cuts potential loss.
i’m starting to complicate it, i know i have to learn a lot more
it would be very good if we could make an EA or at least an indicator, since it’s very tricky to watch charts every 30mins, 1hr or 4hr.
sorry for the long post, but i try to contribute as much as i can.
thanks markoc for the detail explaination. You are more senior than me as i jus started trading forex just few months ago ( 3 months to be exact).
By the way, what setting is ur BB, PSAR, stoch and volume? btw, what is volume? what indicator is that? is that the same system as icycloud?
Btw, i just try on 15 Mins TF with just Gann Hilo and PSAR, you only go the same trend if 30 Mins TF also same trend. I only make a 5 Pips take profit and 4 of the trade go thru. If i were to hold, i would have earn a double digit for all the 4 trades…
bb = 20, (shift)0, 2 median price
psar = 0.02, 0.2
stoch = (8,3,3)
volume is mt4 default indicator (volumes -> volumes) and it shows how many ticks did the fx pair trade. it’s very good to determine how traders work (their activity). there is a thread about volumes, but i don’t remember which is it exactly, sorry. you’ll have to find it by yourself. i’ll post it if i find it.
for example: if trend is going up, and volume is shrinking, it means that buyers are getting exausted, and there might be a reverse soon. (of course, there are a lot more possibilities, but this is simplified example)
i’ve downloaded gann hilo indicator few days ago, but didn’t have the time to test it yet. thanks for the tip anyway
thanks for the reply… i will try it out… by the way, is it possible to enclosed a screen shot on the entry and exit? as u know, picture speaks a thousand words… thanks
When I first see the dot, I’ve come to see that when you’re trading the shorter time frame there is often a strong retrace afterwords, so I set a TS to get pips and then when it backs up it closes in on itself. There is still a lot to learn about this system, but it seems profitable as of now.
MasterIllegal, very nice to see you’re catching profits
here are few examples of entry and exit and some of my thoughts along:
this is eur/usd 30min from the past 3 days.
let’s look at 2 scenarios.
first is following the strategy to the letter (all times are gmt+2):
entry long @ 13.10. 10:00 - exit @ 13.10. 13:30 - around +60
entry short @ 13.10. 13:30 - exit @ 13.10. 17:30 - around -31
entry short @ 14.10. 13:00 - exit @ 14.10. 15:30 - around +5
entry long @ 14.10. 15:30 - exit @ 15.10. 8:30 - around +51
entry short @ 15.10. 8:30 - exit @ 15.10. 13:30 - around +59
entry long @ 15.10. 13:30 - still running - around +20
total around +164 pips in 3 days
second strategy is to try to determine the best exit point (of course, it’s SO easy to say it now, but when the trade is running… )
(all entries are like in the first scenario)
arrow @ 13:30
we can see that bars go out of the BB, and are retracted more and more. volumes show lower activity, and first red bar @ 14:00 shows little more activity (green volume bar) which says there are more sellers. stoch also starts pointing down, so exit could be confirmed @ 1.48510 (14:30)
it would be around +86
arrow @ 17:00
green bar @ 16:30 goes up, and after that red goes back. red has lower volume, and stoch comes to a cross. adx (pink) shows sellers, goes down, green - buyers, goes up. green bar goes up stochs crossed, volumes show green, bb bounces from middle and we can exit @ 1.48350 (18:00)
around -10
arrow @ 14:00
green volume bar shows higher when buying, stoch goes under 20. next volume bar is even higher, stoch comes to a cross, so maybe a good signal to exit on the half of big green bar after it crosses bb median @ 1.49000 (15:15)
around +15
arrow @ 18:00
volume drops, but no special indicators. adx are at cross, stochs are equal, but we’re on the right side of the bb. i would suggest maybe exit @ 17:00, but previous red retracted and green bar goes immediately up, so probably would stay after that. second arrow shows very low volume, but it’s midnight and a rollover, so we don’t suspect that and stay on. no real problems until the end, so we can exit at psar change and like in previous scenario get
around +51
no problems here. green bars show lower volume, so it’s just a consolidation
around +59
arrow @ 18:30
green bars stall around 1.49500, then sharp drop, but volumes are lowest and also we have a bounce from bb median. however, stoch crossed, and adx goes lower. green bar has the same volume as previous red, and probably exit when red crosses bb median
around +20
total around +221
like i said, it’s easy to explain when it’s over, but…
anyway, if someone has anything to add, i’m willing to learn
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