The Skyplay System

seems interesting. now london is in daylight saving time , should we change the trading time accordingly when winter is coming? and is it possible to change the sl & tp? i’m not really comfortable with less than 1:1 reward:risk ratio.
Thanks!

the system is made to work from [B]7 AM GMT[/B] through out the year. when i wrote 1 hr before london open that was before DST i think i should edit that to make it less confussing

the system uses that R:R ratio to cover for situations like these

but you can try 1:1 too

Hi Pipsfowfx!

Have setup your strategy and looking forward to trying it out. Love the simplicity and the idea of one trade and then finished for the day.

Have a question for you: 5 min chart; does the MACD crossover signal need to be above the line for a long trade or can we use a crossover signal for a long from below the 0 line assuming everything else lines up? Same question for a short trade.

Would be really helpful if you could put up more charts showing your trades. Keep up the great work!

Gerard

Hi,
Thank you for sharing. Please give me about Exist point information. How i know exist point from your system?

Thank you very much.
Palm

here’s the answer i posted a lil time back, please tell me if thats not what you are asking

I hope you are asking about exit point? we exit at -25 pips SL

Yes it does thanks! I didn’t see it, need to focus more on the detail and would not have had to waste your time!!

BTW did you do any trading today using Skyplay, if so would like to know how you got on as I messed up this morning, thanks again!

the eu closed as a loss coz of change of trend, the gu closed as a profit

Hello again! Thanks for your reply.

When did you take your trades because on my chart it appears that on the EURUSD whenever you took a trade short you within agreed time frame you would have profited (assuming you went short). I went short GBPUSD at 1.52239 07:20 GMT and because of a reversal got stopped out for 25 pips as per strategy. Thanks again.

Have shorted EURUSD at 1.30361 07:20 GMT :15:

I am aware of French Flash Manufacturing PMI at 08:00 how long before after do you consider a trade? My trade has 50 mins before news.

Stopped out EURUSD just before 08:00 with loss of 25 pips!

let me make some screen shots for you

make sure your coral is set to xperiod 20

backtest results are out they can be viewed here System Review: Skyplay System | Forex Blog: Art of Automation

Hi guys and Pipsflowfx congratulations for the system and thanks for share.
I tried backtest the system for the 3 and half months of 2013.
Sometimes I found hard to do it because of indecision of coral ind or my weaks :slight_smile:
It seems to me that it worked well on eurusd than gbpusd.
On eurusd there are only two series of 3 consecutive losses.
Do you agree?

yeah dennyVR sometimes the coral misbehaves but when its clear before our trading time, that gives sweet entries and most likely T.P :slight_smile:

Pipsflowfx, Few questions here.

  1. What is the latest supertrend settings? Is this a coral indicator? Have to add manually because it is not added into the template.
  2. The current trading hour is from London Open(7am GMT) instead of the Frankie Open as you stated if i remember correctly. And the session will end at 2 hours after New York Open(2pm GMT)? Do we have to change the settings when there is a Daylight Savings or we just stick to the 7am-2pm GMT throughout the year?
  3. What time frame do we use the Parabolic Sar for? do we need a confirmation for Psar to enter a trade?
  4. You mentioned that we can only have 1 trade/day even if the trade hits TP/SL. What about 2 trades of different currency pairs at the same time? For instance, Eur/Usd and Gbp/Usd because they are highly correlated pairs.
  5. Do we trade before the news? What if we are in a trade and not TP yet and the news is coming up? How would you manage the trade?

Sorry for asking too many questions, I am too excited with the system. Anyway, Thank you in advanced Pipsflowfx, Glad i found this system, looks promising.

Can I see the screen shots please?

this is a coral indi, settings x period = 20, and it should be added manually

the system is meant to trade [B]7AM GMT[/B] throughout the year so DST will not alter trading hours

No, the psar just found its way into the template as i was trying other things with the system :slight_smile:

i would not advocate trying this system with pair correlation simply because finding precise entry points with the system needs really keen watch

i avoid high impact news as much as i can

you are welcome mate, we are learning and trying to improve the system