Is there a thread for this as my babypips search only shows a PDF or is that what you are refer
ring to?
@wearethechamp, I have already shared my trading style. However , I am repeating here-- basic system of Philippirrip. i.e. 20/50 EMAās on 4H which corresponds to 80/100 on H1. stochs14.3.3 I exit my positions once stochs reach the other side ( over bought/ over sold ) and look for reentry again thru stochs till the MAās cross over, subject to, stochs divergence. You may please refer my previous post no#1044, on this subject.
Yes, i understand the strategy you use. But your trading pattern.
Do you look at 20EMA and 50EMA on 4H chart, then switch to 1H to look at stochs 14.3.3?
Or just 80EMA and 100EMA on 1H crossover, and enter when stochs move to OB/OS?
How do you set SL level?
Which pairs you trading? to double your account?
As DOUBLING account balance in 1 month is very profitable and accurate.
It may help a lot of traders here.
If you possible to write you trading pattern in details?
I manually test my strategy, but my results wasnāt good. It just maintaining at my deposit balance.
Yes there is a thread on that and if you type in route 60 in the babypips search youāll find it
Phil, what is it about Route 60 that caught your attention? From what i gather it looks like a tweaked up Fib trading from 61.8% to 60% and 38.2% to 40% and plotting this to the highs and lows (of lets say some strong bearish or bullish bars in a trend).
The 20/50 EMA + Stochs offers a more robust way to trade?
Keen to hear your thoughts on this as the threadās OP on Route 60 seems to be MIA and so is his myfxbook account too. So besides the PDF thereās not much left to chew on?
No definitely I think my system is waaaaaay better. The problem with my system is people donāt like to hold positions for long periods. What route 60 can give us, is a really solid exit strategy.
I know you are more familiar with my system than myself by now so Iāll just tell you the example without picture. Go to a 4hr chart of GBPJPY and find my long entry. It way on May 4. Now what I do is I draw a fibonacci extension of the upward move and milk the pips. Most traders donāt like to sit that long so they look for shorter time frames.
What I think those types of traders, who donāt like to wait a lot, can draw a fib retracement from the Overbought to Oversold move and exit at 60 retracement level. This method gives them a shorter holding time, less chance of facing a failure pattern and higher winning rate. You would have made 105 pips on the GBPJPY long in this method in five days. I still think my original method is better, Iām making 500 pips in 11 trading days. But not many traders like to hold trades for this long.
To sum up the rules would be;
Wait for 20 EMA to cross above 50 EMA.
Stochastic will be overbought. wait for stochastic to go over sold and enter long after the main signal line crosses above moving average.
Draw a fib retracement from the high of the overbought area to the low of the oversold area. Take profit at level 60 retracement.
Hi, PhilipPirrip!
Iāve already read most of pages of this topic but didnāt find some important information.
First situation
For example, i decided to trade short after crossover at point a.
Itās a bad trade, but we also can make profit if enter the trade in a correct time. How can i undestand that the first crossover in stochastic at zone b is fake? In a circle b in stoch we can see 3 or more crossesā¦ Which to enter and why?
Also, can you give some recomendations how to prevent trades like that?
Second situatoin
I want to trade long after crossover at point b.
Is combination of lines at circle c correct for long? Or because of red line didnāt reach 20% level this signal is wrong?
Let we skip c circle and wait untill d point appear. In oversold area we can see again 2 or 3 crosses, which of them should i trade long and why?
Thanks a lot!
a) No signal. By the time stochs moved back to OB (above 80), EMAās turned bullish
b) EMA 20 >50 then at C there was a trigger for long which then saw a sharp decline and then a rally. EMAās then turned bearish
(Deviating from Philās method and to answer your question on how to avoid such tradesā¦ price gave you a clue right there when on a second attempt, it failed to break higher. So when price declined that was your clue to exit). Also there was a ānearā Double top right there, so exiting longs was very visible on the charts.
Entry at ācā is just fine (thatās the actual rule posted by Phil) although looking for entries defined by ādā is more robust (something which I follow and find to offer better entry, which also marks a good level for recovery).
Notice if you entered long at ādā (based on %K & %D both crossing from below 20), that price level was recovered (look to the right where price makes a small high when ema 20<50).
You mean if next crossover appears before we catch enter point for previous crossover, previous crossover signal becomes fake. Right?
I did not understand what do you mean.
And what exactly is a signal to enter at [B]d[/B]: when blue line of stoch crosses a red line of stoch or when both lines cross 20 level?
Refer to the screenshot with comments.
Or click here to view the image: View image: Signal Example
And just to clarify, iām looking at the chart from Point (a) where EMA 20 crossed below 50. There is a lot more story on this chart prior to point a but I think it would be a bit confusing at this point in time.
You probably should the whole thread then, you will find your important information repeated several times. You dont seem to grasp the rules of the system well either.
Iām not sure because I cant see the picture clearly, shouldnāt stops have moved to breakeven before the reversal?
hi Philip,
Can you private message me your contact method? i got some questions to ask you.
Im unable to go into the private message (Send new message). they say i yet have the permission.
you can just ask me here so everyone can benefit 
Hey there guys! Iāve read through this thread from front to back! Think I might have it cemented in my head and thought Iād post my current watch list, see if it checks out with other peoples ideas?
Current watch list:
-
EUR/CAD
-
EUR/CHF
-
EUR/JPY
-
EUR/AUD
-
EUR/USD
-
EUR/GBP Edit Valid trade happened last thursday, my bad
(Seems like Euro is taking an all round dip!) -
USD/JPY
-
GBP/USD
Hope this checks out!
Okay.
I downloaded a software - Forex Strategy builder professional.
Im trying to build my 1H into EA.
Understand that your stohastic set up is %k period=14, %k slowing=1, %D period=3.
When %k (main line) arrived at OB/OS then crossed %D (Signal line), entry when bar closed/other bar open.
But when i setup in forex strategy builder, its only show:
Slow %D rises
SLow %D fall
Slow %D is higher than level line (OB/OS)
Slow %D is lower than level line
Slow %D crosses level line upward
Slow %D crosses level line downward
Slow %D changes its direction upward
Slow %D changes its direction downward
%K is higher than Slow %D
%K is lower than Slow %D
%K crosses Slow %D upward
%K crosses Slow %D downward
Which is appropriate?
It would help if you tell us which timeframe are you using and whether your are long or short on each pair
I have no idea man I donāt have any programming skills unfortunately. There is an entire section in the forum dedicated to that and may be you can ask them there
Okay thanks. i think i should trade it manually will be better.
thanks. good luck your trading.
You could get an MQL5.com freelancer to code the strategy for you for about $50 with room for making adjustments modifications as well.
I have experience with these EA building softwares but they are highly limiting. I donāt know how much your software retails for, but using a freelancer is a better/cheaper/flexible way to go about.
Remember that the EA building software should be flexible to āYOURā needs/requirements not the other way around.