Thank you so much ruilima for your kind advice! 
thank you so much for this, I am a new trader trading on a demo account… First tried this today and made:
GDP/USD +86 pips
EUR/JPY +25 pips still going
Agian this is just a demo account, but I like this system. I will see how it goes for a week, and hopefully next week use it in my first live account…
Looking at back charts I have trouble gauging when I should exit…
I am thinking about only trading if the gap between the two sma’s is atleast 80 PIPS, then trading two micro lots with a stop loss at 20 pips, a L1 take profit at the half way point, and an L2 profit target of the opisite MA. If my L1 is reached I would place my stop loss to that level… This would lock in profits and allow half the trade to go… thoughts?
your exit strategie looks good. but if you want my advise, practice a litle more in your demo account before risk your money.
one week testing a system is not enought, even a month is not enought.
I will trade in a small live account, but I think new traders fall into a trap of trading DEMO for long periods of time, then when they go to live its not the “same” because of emotions. I want to trade in a real envornment, with cost assoicated to stupid mistakes, I think in the end it will prevent me from developing “bad” habbits, or entering into “risky” trades because in a demo it doesn’t really matter if you “win” or “loose”…
i never risk 2% per trade. my usual now is a constant 0.02 lots per 1000$ of my account. that will be around 0.4-0.5% of my account per trade.
and i´ve said that i don´t know yet what is the best exit strategy. hopetobegreat gave a good idea. maybe i´ll try it too. for now i use the two MAs to exit and its being working very good
Hi Ruilima, thanks for this system. May i ask the timezone of your MT4 broker? For example. I use ODL, which is GMT+0. Different timezones would cause different daily candles. I’d rather use ur timezone.
Thnks
i´m gmt+0 too
i am agree…im thinking to start with usd100(student capital)
o…and use 10 cent per pip…any comment is welcome…this marylin mansion system is easy to apply. and i start to trade demo toninght…get a few pip…and still study using this sytemm…
does anybody use price alert alarm to know if the price below 2ma or higher than 2ma?
Just checking in to say I’d hoped to start trading this system next week. I have followed the thread but am hoping to get a “summary post” or two so I can perhaps prepare a finished PDF of this system for myself and others to consult.
Can I get Ruilima (or anyone else following this system according to his particular specifications) to provide the following:
[ul]
[li]Which charts are being used? This would include both the longer and shorter TF versions of this system (if you are still trading the shorter scalping version, that is).[/li][li]Please reiterate which indicators are on each chart. Obviously, the 2 SMA high/low is at the heart of the strat, but which others MAs ought be installed and on which charts?[/li][li]Quick summary of when to enter, along with any caveats on when not to enter - even if price is outside the 2 SMA.[/li][li]Any ideas so far on when to plan exits (I realize this is still a matter of some ongoing discussion).[/li][/ul]
If Ruilima or anyone else can chime in real quick I promise to try and gather all the info together along with some chart examples and try whipping up the whole thing into a concise and (hopefully) well-explained PDF e-book for other newbies to consult.
trend.zip (3.13 KB)
this is a indicator that i think that could be very usefull to this system. to make clear to see the HL and LH.
i can open it in my alpari demo account but when i try to open it in my live account in forex.com it crash and shoot down the program.
if someone knows how to fix it it will be good
Hello Ruilima22, could you answer a query I have?
The problem with this system sometimes is that when the candles do go past a daily 2MA (either below or above) they do not go past it very much. For the ideal condition to enter a trade we wait for higher lows/lower highs for the long and lower lows and lower highs for the short. The problem is we may not get the pattern we like until several candles have passed and by that time we are back below the daily 2ma…
My question is, do you look for a minimum number of lower lows for a short (and opposite for long)? IIf you look at this picture you can see how it might be easy to enter a trade at the wrong time - of would you say that this PA is obviously not good?
Any help you could give would be much appreciated.
if you trade in a safe way, by trailing your stops and watch to chart very closly you can trade this price action conditions with a few small losses and BE until you get a good trade. in the long run it will be profitable.
if you cannot be looking at the charts all the time or don´t have enought patience to do it i will advice you to don´t look at this price conditions. ( i mean bear candle, bullcandle, bear candle…) the HL and LH when the candles look almost like heikin ashi candles is my favorite and are more reliable.
and as soon as price cross the ma i open a trade when i see a new HL LH.
hi merchant price. thanks for your offer. it will help everyone.
i´m trying to get something to make clear to see the HL and LH and i think i got it. the indicator i just posted seems to be cool in backtest, will try it next week real time. i can do no arm it´s just for visual help.
right now the rules are:
5m chart. - multitimeframe ma indicator setting to show the daily 2 period ma.
when price goes above or under those mas look for higher lows to buy or lower highs to sell.
until now i think the best period to trade this system is during london market and some pairs during asian too. the NY market seems to flat to trade this.
the SL i use to set it above or bellow the previous HL or LH and them trail it until BE pip by pip.
to close trades i´m stilllooking for the best option but i think this indicator i post in the previous post will help do it too.
i´m also seem a very nice idea about timeshare in other treath that i will study about.
like you see there´s a lot work to do with this before it becomes a very clear system with very clear rules.
until now i use the two aditional ma yellow and green to close my trades. i being able to catch huge moves with it but in a sloopy market it´s making me losing some profits.
open trades is always the simpliest part of a system:D
close them is the problem.
hello ruilima so would you recommend using heiken ashi candles for this system?
I think I get that you are putting the Daily 2-period MAs onto the 5m chart so it’s all on one chart for simplicity, but can anyone clarify what that number value is exactly of those MAs when they are added to the 5?
Can anyone explain the concept of ‘higher lows’ and ‘lower highs’ with perhaps a chart illustration?
I know you mentioned those MA values in an earlier post, but which ones were you using again?
Thanks for your patience.
no. i said that i prefer when normal candles looks like ha candles. all the same color.
if you read the thread you will find the answers to all your questions
the 2ma in daily chart is setting in the 5 min chart with mtf moveing average with 1440 period. it works very fine.
the other 2 ma are 15period smothed aply to close and one 22 period aply to close with 5 period shift.
the concept of HL and LH is very explicity in my early posts with a lot of charts. i now try to put it more explicit with that trend indicator i post a few posts ago
i´m backtesting this trend indicator and in backtest it looks great. i can´t wait for monday to try this out. it looks like my exit problem will be solve soon:D
and it help to identify the HL and LH too.
sounds awesome ruilima22!!! i looked at the indicator also and it looks great… i can’t wait to test it also…so do you think that this trend indicator can replace the 1 moving averages that are applied to the close (the 15 and 20 moving average)?