i just read about you icycloud system (like the name) and i am eager to put it to the test. i was just wondering can u use it for shorter time frames?
Yes you can, just have to watch it more.
been bz this few months/… heres the latest trade of all using my system…
to all asians… Happy chinese New year.!
Interested in your use of the 15min (i like this TF) - what hours do you trade, UK & US session? What money management did you use during this period?..do you use initial stoplosses at all?
Nice trades you have here… How do you manage to catch the entry signals, do you watch the charts all the time or do you have some sort of alert?
Thanks!
hey icy, i just wanted to know…the gpbusd trade on feb 1st…how come you traded? on my charts it says the dot wasnt outside the bands…unless my chart is different…im on the 4 hour chart on mt4…please let me know what company you use to trade as well…thanks
Wow. I just noticed this system today.
For people who are late into the signal, I think you can still catch up. Most of the time, after the PSAR gets hit from a strong move, we see a retracement. You can then get in at a better price and a closer stop loss (PSAR moved closer to price already) compared going in at the first signal. So if you were wrong, you will have a smaller loss compared to the person who got in during the first candle. If you’re right, you might end up earning more than the guy that enters in the first candle.
I’m also looking for a nice way to filter out those whipsaws. I was thinking of Daily ADX DMI for strength and direction for the day and only take the signals in the right direction. This will get rid of half of whipsaws in consolidating days. But I fear it may prevent us from going into major trend reversals.
My only problem here is the money management aspect.
Initial stop is large so the position size is greatly reduced.
a mini lot is definitely not applicable unless you have thousands of $ in your account.
[QUOTE=jomni;38942] So if you were wrong, you will have a smaller loss compared to the person who got in during the first candle. If you’re right, you might end up earning more than the guy that enters in the first candle.QUOTE]
Not necessarily, the closer stop will usually mean a bigger lot size so the loss is the same. It might well be the potential gains though are much greater
i trade from the uk session right on through to the us session. i risked 3% of my account per trade R:R, 2:1
the stoploss depended on the pair but 10pips for slow moving pairs and 20-25 for fast moving ones.
ive stopped using this system. even though it did produce positive results in the forward test. it often produced fake outs and it felt a bit like guess work. good luck though
pipvader, you say it was like a guessing game. I notice that sometimes alot of trades meet the criteria. I don’t know how many trades you had open at one time but do you think that by just narrowing down to a few trades would help? Right now there might be about 8 trades that fit, so i would think that trading all these at the same time would not benefit. Just trying to see what strategy to use with the smaller charts.
The problem with smaller charts (shorter time frames) is that the Bollinger Bands can be erratic. Everyday we have slow hours and less volatility, this will result into narrower bands. Because of this, parabolic signals would have more probability of going outside the band. It seems that standard settings is optimized in H4. You might have to tweak them in shorter time bands.
Anyone can tell me how i can get the Bollinger bands on oanda to ignore the weekend break? It pulls the bands out of kilter unlike the MT4 platform i use for live trades. Besides the 3 hour TF on Oanda, it can adversely affect entry points as the SAR dots fall outside the bands when they should not…on MT4 the weekend is ignored and not shown as a line of dashes…
:mad:
Did i explain myself correctly?? the bollinger bands converge on the weekend break and then slowly part as trade resumes and that is where the error could arise…
I’ve been trying out this system today, and although I don’t have the nerves to stay in a trade too long (and then suddenly change my mind and go long/short again) I’ve managed to gain 94 pips from 08.00 - 14.00 CET today.
I’ll send some screenshots later on + some questions, I really need your guys help and do some more studying on the babypips school.
Happy tradin’!
Hi Johnsovich
That’s the trick, to not close out before the SAR dots reverse although some have their own exit strategies. I’ve found this system to work on the 4H and daily but i’m no day trader like some. try to avoid ranging markets but that’s not easy to predict either. I’ll post some trades once i have closed later this week. most trades on 4H more than a day to complete…
F. Go to “Tools”>User Preference>Chart: select “Ignore Weekend Data” and then the times you want ignored. I also select “Hide Weekend Data” but I don’t know if that is necessary if the data is ignored.
My question: do you use the PSAR reversal as a stop? I like to have a SL in case I lose the signal or have a computer crash but don’t know what size to set. thanks,d
Which pair?
Anyway to filter out ranging markets, I use ADX DMI in the daily chart. Only take the signal when ADX is above 20 and Trade in the direction of DMI only (long or short). It lessens the opportunities but I have more confidence in riding it out until exit signal (Parabolic SAR). My stops are set every 4 hours at the parabolic SAR. When I sleep at night I just let it run. No need watching this by the minute.
I am actually long USD/JPY since yesterday. But this has weak ADX (below 20 - broke my rule) so I foresee this as a slow and bumpy ride.
GBP/USD.
I’ve added the ADX now as well but to be honest I don’t really know how it works. :o If it’s below 20 am I lookin for going long then and vice versa? And I don’t what DMI is either. Sounds like a good idea though, B.Bs and PSAR alone seems a bit… unsafe.
Here’s a picture from yesterday (if you’re interested): 
ADX shows you the strength of the trend. It does not tell you the direction. If below 20, then trend is sideways. If above 20, then we have a trend but don’t know if it’s up or down. The higher the ADX, the stronger the trend. My general rule is to stay away if ADX is less then 20. You can try going in if ADX is less than 20 and anticipate but expect a choppy ride. I’m testing one of these trades now.
DMI has two lines, DMI+ and DMI-. DMI tells you the direction of the trend but not the strength. If DMI+ > DMI- then it is an uptrend. If DMI- > DMI+ then it is a down trend. Only trade in the correct direction.
Take note that I apply this to a higher time frame. If you trade IcyCloud system on H4, then check the ADX DMI indicators in the daily.
Take note that I am also testing the system with these filters so I don’t guarantee how well it performs. But in theory, it seems to be a clear way of lessening fake outs. Be warned that you may miss out on other opportunities as a tradeoff.
Hi, do you use the default settings on MT4 or what platform do you use? They call this average directional movement on MT4 default period is 14…
Cheers
fischerb
Thanks dobro for the setting info. i dont use stops at all because i use the daily TF so i have plenty of margin and time to react. i use a very small percentage of my account balance on trades so i can ride the trade for days and weeks if i have to but for traders that cant afford a large balance this may not work.