Simbasystem-gbpusd - page 16
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Trader 79 And Others
Could this have been another entry on 1min chart?
OK LISTEN,PLEASE
FIRST I THANK YOU FOR YOUR KIND DEDICATION TO THIS THREAD
SECOND I UNDERSTAND THE NATURAL TENDENCY OF EVERYBODY TO OPTIMIZE
THIRD,IF YOU KEEP OPTIMIZING(IN THIS THREAD..Iknow you are going to play withe the timeframe,the indicators,the SATL,IT IS NATURAL,BUT DO IT ON YOUR OWN),do not post different settings,timeframes,etc,IN THIS THREAD
FOURTH,..AND BELIEVE ME..I have been there,I have played with the system,changing the TF(1m to week) the oscillator(rsi,stlm2,rbci2,schaff digital,stoch,cybercycle,fisherized variation of the previously mentioned oscillators and their uncle)and its length,the digital filter or ma to use as trend indicator(JMA,SATL,DECEMA,NONLAGMA,Chandelierstops as trend filter-they work fairly well on 1H TF,BUT SATL4H IS BETTER FILTER..even FATL ON DAY FRAME TO APPLY IN 5M TF) and its length(half a dominant cycle..but what timeframe do I use to measure the cycle length 1H,4H,1D,1W?,the currency pair to which to apply it..how do I know the dominant cycle(CLUE:DIGITAL FILTER GENERATOR posted by NEWDIGITAL)...AND THIS IS YEARS OF EXPERIENCE AND THOUSAND OF HOURS DISTILLED ..TO HELP YOU avoid wasting your time..I am sure that the system can and will be improved..and once you are competent with its settings you will be able to do so..
You can not imagine the workload that supposes create and keeping alive a thread..IF you keep posting variations,you make it more confusing for everybody else..Wasting their and my time..and the moment I feel I am wasting my time..I will employ it more productively.
Go ahead ,innovate..but do not post the innovations in this thread(For a few weeks),create an alternative thread if you want to do it..or wait for a few weks for posting the excellent innovations you will have devised,BUT NOT NOW,..please.
Regards,
SIMBA
Hi Simba,
In few posts you mentioned that we could trade off of 1M chart.
Ex. Post #46. That is the reason for my post with 1Min chart, that is all no other intentions(innovations).
I am going to trade on 5min chart.
Thanks
Hi everybody,
I have read several different posts with practically the same requests,so,,I will try to reply to all within this post
1-Download the template -post 32-and install it to MT4>>>templates
2-Download and install the indicators included in post 32 AND 46 of this threadin MT4>>experts>>indicators.
3-Please do not modify the settings
4 RULES FOR BASIC:
1-ENTRY:Buy BELOW -95%R IF TREND UP AND BLUE
Sell ABOVE -5%R IF TREND DOWN AND RED
2-EXITS
YOU ARE NOT GOING TO LIKE IT)
STOP:NO STOPS..We enter based on indicators,not on price so,we exit only
when the trend indicator changes its colour and direction-complete 4h bar,until the 4h close,even if during the 5m tf it changes colours often-it does not happen very often but today has all the numbers(do not worry,in the advanced mode we will use a variation of the chandelier stops,also on MTF,that will limit our risk and keep us in the trade)
TAKE PROFIT:For the moment,30 pips..do not worry..will change.
Now,you must be astonished by my exit settings,remember,these are the basics,and I want you to PAPERTRADE THIS SETTINGS ON 5M TF,today Friday,news(CPI,TIC,CAPACITY UTILIZATION..)INCLUDED.AND,VERY PROBABLY,I am going to ask you to papertrade these settings ON 1M TF during next week,then,I want you to constantly post your bad and good(paper)trades,the defects you see and..more important,if you are(paper)profitable..creative discussion ,and more advanced indicators will follow-that hopefully will take care of the problems-will follow.
Now,I just checked the market,and it seems that the trend is still up,but it looks like topping..we will probably get either no signal or an entry(buy) signal ,if we get any,in the
1.9550/1.9600 area,(paper)take it,it will probably be a bad signal-not sure,if I were I will start shorting like crazy,but the trend is still up,.But the risk,as defined by the advanced is too high,no problem either you will experience what I want you to experience,if it happens,a change of trend..the worst possible settings for this system.or you will start making paper money and internalizing the system.
Check the attachments and please remember the rules and EXCLUSIVELY PAPERTRADE THIS SYSTEM..my target is having you trading live ,with confidence,the advanced settings in a few weeks..and to do so I want you to practice(simulated) from the basics up,believe me ,YOU NEED IT TO INTERNALIZE the system,its faults,and its advantages.
Set the alarms for WILLIAMS%R at-95 and -5,so that you can trade your ususal system while having this in the background,and,if the alarms sound,JUST FOLLOW THE RULES(papertrade my friends).
Check the attachments and Regards.
SIMBA4-ENTRY BUY:BLUE(4H) #MTF_xpMA _v2 SATL+WILLIAMS%R >-5(CLOSE OF THE 5M,not before)
5-ENTRY SELL: RED #MTF_xpMA_v2SATL +WILLIAMS %R <-95(CLOSE OF THE 5M,not before)
You made an error there Simba... %R should be -5 for short...
Very interesting and most importantly thanks for sharing Simba. Entered g/u same time as u, held and it hit 30pips profit, e/u also entered, held a long time, 30pips profit and finally u/chf entered held a long time as well and also hit 30 pips. Demo only and still a long way to go but most importantly, thank you for sharing with others and helping others who are interested.
Exit or not exit?
Hello, SIMBA
Thank you for sharing your system! I think the advanced mode will give answer to my question, but for now...
Just for experiment on USD/JPY. /We may have the same situation on GBP/USD don't we /
An hour after buying on 118.00 the color of our main indicator changed. What can we do - close, wait, or new sell on Resistance 1 ?
10X in advance
Sorry, I've made a mistake
Sorry, I've made a mistake - not 'after buying' but 'after selling' and the color of the vertical line is red (not blue)
Zathar
You made an error there Simba... %R should be -5 for short...
RIGHT,I DID,MY FAULT AND SORRY,THANKS FOR CORRECTION....FORTUNATELY THE SYSTEM IS SELF EVIDENT VISUALLY.
IF you,or anybody else,find an obvious mistake like this ,please feel free to point it out,
AND,Since I can not keep my frequency of posting,nor I can reply to all the individual messages,specially when a similar question as been already answered in the thread,I will be grateful if somebody wants to help other thread participants whith this and other similar matters.
In a few minutes I will post the drill for Tuesday19 December 2006,
Regards,
SIMBA
Trader79
Hi Simba,
In few posts you mentioned that we could trade off of 1M chart.
Ex. Post #46. That is the reason for my post with 1Min chart, that is all no other intentions(innovations).
I am going to trade on 5min chart.
ThanksPLEASE READ THE VERY PROBABLY IN 1"VERY PROBABLY,I AM GOING TO ASK YOU TO PAPERTRADE ON 1M TF,ETC,ETC,THE NEXT WEEK"
2-READ THE YESTERDAY POSTED RULES FOR TODAY DRILL DID I ASK YOU TO TRADE ON 1MTF?OR DID I ASK TO TRADE SPECIFICALLY ON 5M?
3-A TRADING WEEK HAS SEVERAL DAYS..SO,UNTIL FRIDAYS..IT IS VERY PROBABLE
THAT I ASK
REGARDS,
SIMBA
RULES FOR 19 DECEMBER 06-TUESDAY+interesting
Hi all,
RULES FOR TUESDAY
1- THE FOLLOWING rules stay the same:
DEMO ONLY
CURRENCY PAIR:GBPUSD ONLY
TF:5M
90 periods %R >-5 For Sell,If trend direction red,with the comments regarding potential change of colour/end of 4Hbar necessary confirmation for trend change,ETC
90 periods%R <-95 For Buy,If trend direction blue,same comments as above
STOP:NO STOP
2-THE FOLLOWING RULES CHANGE TO:
TAKE PROFIT 50 PIPS from each position entry point(see below regarding number of positions,if you have sold 1 @ 1.9650 and 1 @1.9687 you cover one @1.9600 and one @ 1.9637
POSITION SIZE 0.35 LOTS PER EACH 5.000$IN DEMO ACCOUNT,AND YOU CAN ADD A MAXIMUM OF ANOTHER ADDITIONAL POSITION(UP TO2 POSITIONS) ONLY IF FOLLOWING 3CONDITIONS ARE MET,A-OF COURSE YOU MUST HAVE A SECOND VALID SIGNAL:B-TIME DISTANCE BETWEEN POSITIONS ENTRY IS HIGHER THAN 4HOURS and.. C-PRICE MUST ,for second entry only, BE NO MORE THAN 50 PIPS ABOVE THE RED TREND-so,it can be below,at, or max +50 from the RedTrend (obviously for second sell) or NO MORE THAN 5O PIPS BELOW THE BLUE TREND(OBVIOUSLY FOR SECOND BUY)same..it can be above,at or-50 below the BlueTrend.
Remember the problems can arise when price has penetrated the trendline in opposite direction, it can be a potential change of trend or a potential retracement.,,so,this is killing field ,very dangerous or very profitable
3-THE FOLLOWING FLEXIBILITY ADDED(RECOMMENDED/NOT MANDATORY)
USE FIBOPIVOTS POINTS ,IN ADDITION OF THE PREVIOUS RULES TO FLEXIBILIZE YOUR ENTRIES(NOT YOUR EXITS),For example you get a sell signal @1.9547 and the pivot point,or any pivot line-SUPPORT1,SUPPORT2,PIVOT LINE,RESISTANCE .etc.(exclusively those shown at the template ) is near @ 1.9555,you can either choose to sell inmediately or to wait for pivot line "touch" to sell @1.95555..use your common sense and your intuition,some times you will lose an opportunity for waiting ,sometimes you will get a better entry with less risk.
If possible,apply this rules from Tuesday 08:00 GMT,IF DUE TO YOUR PERSONAL TIMEZONE YOU CAN NOT,NO PROBLEM,APPLY DURING YOUR PERSONAL TRADING DAY
I am going to reduce absolutely my frequency of posting .I will reply only for very relevant posts, a few times a day max.So,if the most experienced ones want to reply the usual questions..like How to install an indicator?what is atemplate?I downloaded the indicators,how do i use them? the trendline has changed colour twice in this 4H period,is this a change of trend?(only when 4h confirmation by close of 4h period bar(48*5M)) Shall I sell when%R goes to the opposite range from a successful entry signal?(NO,you sell at TP INDICATED FOR THE DAY)..etc,etc..I will be extremely thankful for your help.
INTERESTING OBSERVATION
(NOTHING TO DO WITH THE RULES,YOU EXECUTE THEM AS EXPRESSED ABOVE)This just food for thought,check the attached pics weekly and 4h..see where the accumulation of Support Resistance relies..try to use them for your thinking during trading..but execute the rules..just for thinking during trading..try to think like"..mmm,I have just received a valid buy signal,theFIBOPIVO s2 is at a distance of 8 pips below entry point,so,I can choose to wait,,AND THERE IS A WEEKLY SUPPORT JUST 10 PIPS BELOW the Fibopivots2(18pips below signal)..should I enter now ,wait to enter 8pips below, or wait 18 pips to the weekly trendline?CLUE:when you finish the drill you should be able to decide that wait 18 pips probably is better,for the sake of the drill, to execute use the rules above,JUSTFIBOPIVOTS from the template.
I WILL NOT POST UNTIL SEVERAL HOURS FROM NOW,PROBABLY ONLY AFTER LONDON OPENING SO,IF YOU NEED ANY CLARIFICATION ,POST IT AND,TRY TO INTERPRET THE RULES WITH COMMON SENSE UNTIL IT IS CLARIFIED.
IT WILL BE INTERESTING IF YOU POST THE HISTORY FOR THE DEMOTRADES THAT YOU ARE DOING WITH THIS SYSTEM.
Regards,
SIMBA
I extended the Williams' PR to give alerts as per Simba's rules. It's hard coded to use 5 minute GBPUSD at 90 periods... It's my first code in MetaTrader, hope it's not too ugly
Anyway, maybe someone finds it useful...