Hi Philip . Thanks for sharing your strategy! I’m also new to this and learning . Was just wondering if you or anyone can see a short signal coming on eur/chf? Stoch has crossed at oversold and seems to be approaching over bought.? Any thoughts?
Many thanks
Thank you for that. Contains 1 minute data, separated in files by year. Will take a look at it, but will take some work (and processing power) to roll up the data, and concatenate it by year. Nonetheless, great reference. Thanks again.
Thanks again man. You have no idea how important for me the work you are doing. I’m hope it does benefit you too. With forex you don’t need to test every single pair. Even something like EURUSD or USDJPY will give us an idea.
And if you do that test I will actually revise the trade log one by one to see how I would have tackled each trade as it comes. So we can improve the system further.
Thanks a lot.
Dosojin, the EURCHF is going to show a signal soon on my chart too.
Pending list :
AUDCAD
AUDNZD
GBPAUD
NZDCAD
CADJPY
And I got one question
Edit: I know this is not a complete pattern yet , I mean does the high point I connect correct? or I should connect at the high point of blue box?
[QUOTE=“Jalapenofan;689159”]Dosojin, the EURCHF is going to show a signal soon on my chart too.[/QUOTE] great thanks man. Seems like a great strategy. Still getting confused with fib levels though. I understand where to place the fib just can’t work out the s/l positions
No lol. Ok See that area you marked with a blue square? Right next to it is an even higher pin. That is THE HIGH, since it was the highest area price reached before EMA crossed lower. That is where you should connect the fib to.
Okay got it. So any fibo key level with stoch at another extreme is entry?
No we don’t care about fibo levels for entry. We care about fibo extensions for exit.
Apart from EUR/CHF, There are 2 more trades that i will be looking to enter sometime this week as long as all rules are made…
EUR/TRY
GBP/AUD
Courtesy of Jaleponfan, I have 4H EURUSD data from late, 2009-present. I loaded the data into Wealthlab and ran it against my model, trading like stocks since my system doesn’t natively support FX (really shouldn’t matter, as long as data is consistent), and the results are terrible. I am bewildered, and am hoping that it’s something that I’m doing. Please offer explanations if you can:
First the raw performance graph:
Next, the trade performance summary:
I’ve attached 2 files to this post as well:
The list of Trades that were made. This is an Excel Spreadsheet, but I had to rename the file to EURUSD.txt, so that
this forum would allow me to upload (they don’t like .XLS attachments for some reason). So, rename it to EURUSD.XLS,
once you D/L it;
I re-attached my Wealthlab model code, so that it can be reviewed as well.
I have to run out with my wife for a couple of hours, so I’ll look for comments when I get back.
EUR/JPY short anyone?
Just by taking a quick look at the last trade it looks like you are buying where you should be shorting. The very last trade on the 18th of December is a long trade where the EMA’s are clearly in a down-trend. and your STOCH’s should be negative. no reason to be going long there…
Did you have the Stoch set at 14,3,1 when back testing?
just watching EUR/CHF stcoch is just about to cross! my question is do i wait until the next candle opens or get in the trade now? only demo so ill try it anyway but any advice would be great… also could someone tell me if i have this all set up correctly and where the S/L would go on the fib…much appreciatted
Shemski, I understand what you are saying by looking at the chart, but the Stochastics never reach Overbought to give you a Short signal. More importantly, if you look prior to that decline in price, there is a cross-over (designated by my Green triangle on main Chart), followed by a stochastic Buy signal (also designated by a Green triangle in the Stochastic chart). This leads to the Buy and quick Stop-out. After that point, we’re waiting for our next signal. So, the question becomes, what rules can we use to avoid that Buy signal (that is avoid the chop)?
Hmmm, maybe a good point would be to open the position once the stochastic is leaving the overbought/oversold area, I think it would help to avoid the chop, but some pips would be lost. Or maybe to not enter if the EMAs are too close between them, I am not sure.
HhAHAHAHAHA. Thanks for your effort first and foremost. I’m siding with Shemski on this one though. I remember this chart like it was yesterday, that’s the May sell-off if I’m not mistaken. I’ll try to do my (manual) analysis on how this should be trade so you can compare it to your computer.
Now before that, the EMAs did cross upwards weeks later, so you should have still made a huge profit shorting the EURUSD. But as I mentioned earlier, because the computer lacks context it got caught in a false long everytime rather than capturing the short. In essence, every good short is a failed long and good long is a failed short. I’ll be back with the chart explaining it better.
[QUOTE=“Shemski;689192”]EUR/JPY short anyone?[/QUOTE]
What chart are you looking at?
