the exits were always a problem to me and they always will be. but i think you have understand the one i´m using now. track the trade with the 15min dots.
about the other S&R lines you don´t need none for this system but a good knowlege about them and about trendlines is always usefull:rolleyes:
but if you trade this like i´ve posted and you follow the rules ir is enough to make good profits
Rui, remember the EA where you can make a trend line and it will close your order when price crosses the trend line? How did that work out for you?
no good talonD. everytime i change the TF the trendline disapear. and if i leave the pc alone it disapear too sometimes. other times it closes trade without get touched and sometimes price pass thru it like it was nothing.
failed experience
Seems like it would be a good way to close trades if it works like it is supposed to. Maybe a good mql4 programmer could fix it.
that would be great but i don´t know any
Well thats it for today. Couldn’t spend too much time trading today so I only made 6 trades on 4 different USD pairs. I followed your system exactly except on the take profits. I used signals on 5 min charts. Here are my results. These are on a demo account:
Pip Gains
12+7+15+0-1+15=48
Percent Gain Total: 5.74%
Because of volume half of my profit was in the last trade I made. Very promising so far though. I am going to trade quite a bit more tommorow. I am closing the trade when I see an opposite direction dot on a closed 5 minute candle. This may cause a ton of false signals but so far so good. I did miss out on 10 pips or so on one trade.
On another note, because I used the 5 minute candle as my closing signal, I was never really in the trade long enough to move my stop. Still, I’m not going to complain about 5.74%.
good job traderator.
i can tell the same about me.
i took losses after losses and it cost me 4% of my account… yesterday gain was to pay today´s losses
losing days happens. tomorrow will be better:o
[QUOTE=newcenturyintl;187740]Great stuff, Traderator. 5.74% is pretty good!
a troll \o/
ruilima22 -
It looks awfully tempting to trade a reversal of the “dots” ie buy the 1st green dot after a series of red ones. I see some nice moves if one intends to sit at the computer and monitor the trades. Have you ever tried this ?; it is just trading a price reversal. Just wondering, d.
you mean trade at the first dot after the price touch the MA?
yes i´ve try it on the simulator. on the long run it´s profitable in all the pairs… i mean in the last 3 months at least. but there will be great losing straights per pair. when we trade 8 pairs simultaneous we can not afford a losing straight of 7-10 losses in each pair…even risking 1% per trade.
right now with this system i get a lot of losses and even a 4% drawdown like it happens today to me is very hard to swallow.
without the HL LH filter if we trade 8 pairs risking 1% per trade 2-3 bad days will crash an account… but in days like today it is awfully attempting indeed;)
Hi ruilima22,
After opening a trade, when M15 dot don’t change to the right color, do you exit as soon as M5 dot change color or do you wait the closing of the current M5 candle?
Same question about M15 close : after M15 dot turn into your color, do you close your trade as soon as dot reverse or at close of the candle to be sure that it is a real reversal ?
Thank you
You would not want to exit the position until the candle that the dot changes color on closes. I expect you would get a large number of false signals otherwise.
I think this depends on price action. I would say, (and ruilima may disagree with me) that you should, at minimum, wait until the close of the first 5 minute candle. Waiting until 15 minute candle close will avoid false signals but you will run into larger 15 minute candles that will wipe out your trade. 10 minutes into candle might be a middle ground. Either is a risk.
Here’s a trade I would closed because 5 minute candle closed green. On the 15 minute however it is still a red dot a has retraced most of that large upward candle. I’m happy with my 15 pips and would have taken them (if I had gotten into this trade. Wokeup after it started…) We’ll see where we get by waiting on the 15 min candle.
Thank you for your response, I think too that it is better to wait the close.
we should wait for the 5m candle to close… always.
that spike in the gu chart is a new release spike… does´t count as a normal move. always stay extra carefull at the news releases;)
Todays EUR/GBP horizontal trading hit me three times for a total 1.5%. I won’t trade it again until it breaks out. I am backtesting different S/L strategies to see which one provides best returns. I’ll post what I find beginning of next week. Down 3.25% or 32 pips at the moment. Waiting for a solid trade.
ruilima -
I know you use Alpari for finding potential trades but use another broker for the actual trade placement. Question - do you use 2 monitors? I’m having trouble switching back and forth on just one monitor plus one is MT4, the other is Java. Complicated. Anyone with comments please feel free to chime in. d.
i only trade in one monitor… i only look at alpari charts and if i see a setup then i chage to my actual broker.
Day#2 was pretty rough for me. I actually had 12 trades but 5 of them were placed because I configured an indicator incorrectly so I am not going to count them. 7 actual trades with system.
Pip Gain:
-10, -3, 0, -11, -10, 0, -11 = -45
Percent Gain:
-4.62%
So far I’m even on system. Same time, Same place tommorow.
