My New Day Trading System-rate and test - page 12
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Down then up I would think.Buyers and sellers around. Dangerous flat line day. Time to pull out the Stoch I would think. Nailed 26pips Y/day with the system. Small but sweet.
Cheers.
PS:
AUD has interest rate announcement as well. Thats when we will see movement.I looked at the news calender but didn't see anything for AUD today. Guess I need to look closer.
Good pip catching yesterday. (high five)
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Ther's also a potential long in GPD/USD at the moment. The support looks good. There is a nice gap in resistance. I'm keeping an eye on this one.
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Update: 12:03 am
I think the potential AUD/USD trade is out the window now too. It just soared up to -42 on a sudden spurt of bull juice but I noticed that it did so just as the 9 was going off so there was no way that I was taking it if it closed above -40. That's a big no no. Sure enough the price fell from .56 to .48 in the space of a minute. The support/resistance relationship that looked so charming this morning has evaporated because the trade took too long to develop.
Meanwhile the GPD/USD set up is starting look better and better.
USD/CAD
Trading Bias: Buy
Entry Point: 1.0190
Stop Loss: 1.0155
Target Price: 1.0260
Total Volatility: 100
heheh , when 9 does now work
this shows another scenario -- good to know
It doesn't tell you when to buy or sell, only when the price might move quite a bit in either direction.
Trend
I love your system. I tend to look at the daily chart before entering and then go to the one minute chart and trade only in the direction of the main trend. In this way I have made many successful trades. Your USD/CAD trade was perfect by the way.
Regards.
this shows another scenario -- good to know there are different scenarios
ya, I am starting to get some research result on sophisticated entry signal
probably combine 2 template and need lot of GUT (I got scare out easily) to enter
but I am starting to test it under live situation -- hope that I could change the habit in my mind and go along with it
indicators
Hey
I like your indicators, could you post them, with the template- I would like to try your system.
Thanks
Q
big thanks surfer, if I PM chat with you much later, I got a rain check --
how I use it -- I dunno
Where I put it -- in this template >> I probably schedule a time slot in June to test it out -- could have some Q afterward
my approach of testing is usually -- manually entry (pure technical)
observation --> Universal Sign --> testing the Sign --> Adjust my Freq. of Entries ---- >> 30M becuase just too bloody lazy to change TF myself)
let you see, How I did put in the 30M TF of EURO-JPY
S~A I think as a forex trader, you can choose 2 arsenal
one is fishing Stick, another is forest wooden branch Y-shape hunting tool -- i.e. hunting in the forex forest, you will allow to pick one arsenal before each ENTRY, you must know which one to pick
Had a look at the swing thing you mentioned above. Nice coding and once again another way to beat the odds. From my point of view I would like to get the trades right on a single pair before venturing into more.
Some of the strength of CycleSurfer's system is it's simplicity and certainly it is an easy concept to rinse and repeat. I have knocked up the indi's as I find them useful with my trading style and post them here in appreciation of CycleSurfer initiating the thread and concept.
Personally I will now come up with some hard and fast rules for myself that I will share and then look at enlarging the Ea's because there still needs to be another filter in place as I see it. Could be as simple as a 55 ema or 21/1 bollie, haven't had a chance to have a good look yet.
But the beauty of this forum is the massive talent within and I hope others get a hold of this thread and bring CycleSurfer's baby home.Hi brooky,
how is your Ea doing? Did you make any improvements?
Best regards!
ROC Rainbow Oscillator Indi
Hi All.
Thought I would share an indi that combines what we have been using conceptually with WPR and ROC.
After having worked with Cj's system for a few weeks now, I personally found that the -40 and -60 lines can bring great pleasure or great grief.
The system relies very much on momentum as it often signals very late in a move and needs a keen eye to pick a quality signal.
The combination of the ROC rainbow and the oscillator has been the answer for me.
Look at the rainbow and listen to the oscillator and there will be a pot of gold at the end. Well maybe :-)
So heres a little detail .
1- The indi may look like a fast MACD but has nothing to do with it. It is instead based in the Rate of Change of the WPR initially.
2- This rate of change is reflected in the rainbow by the maroon and blue histo's. I like to call them the smart money MA's.
3- The centre ma's in the rainbow is where the herd would like the price to go. Notice how the bear belly and the bulls bulge magically line up as support and resistance further down the track. Hmmmm.
4- The oscillator uses this ROC for it's histo and the yellow line is a modified force input. For me I can finally see if there is likely to be a follow on of any positive or negative histo movement. Something I could never work out in a macd.
5- This oscillator is very sharp at detecting divergences in force very early which generally will result in a reversal or slow down. Vital for us as we need momentum to get us over the lines.
6- The pink line on top and green line on the bottom when they appear are your warning of a divergence. It pays to take heed.
7- The signal for the top divergence is different from the bottom anc can be adjusted in the settings. The reason I have done this is because a bottom reversal is totally different to a top reversal. Tops are often long 3 prong attacks while bottoms can be piercingly sharp.
Generally you will find top divergences showing up a lot earlier than bottoms. The herd loves buying and can drag a price way above value for ages which the divergence will pick up but is often to early to short from.
8- The signal strength that you input is only the basis for the divergence calculation. I have made it dynamic with an element of ATR to help push it away from past moving markets limiting the amount of divergence signals.
You will notice that the distance that the div line is from the histo is a gauge of how strong the div signal is.
Generally the further away from the ROC line, the more attention it deserves.
I have attached a chart which is fairly self explanatory of how you may use this indi to make your decisions.
Notice what appeared as a long signal ended up being a fantastic short.
The indis are attached with a tpl.
NOTE: It is a two part set. Both need to be in the indicators folder, but you only need the oscillator running if you want.
This is because I need more buffers than the 8 allowed in one indi. Again a note to any coders out there. The indis work but I know can be optimised better, so if anyone is bored, thanks in advance.
REMEMBER. With the rainbow, make sure you set your chart to foreground, and again thanks to Mladen for the gem of an idea of the rainbow.
Re the EA. It did finish testing in profit but with only an averaged 2% profit ratio. I actually believe it can be filtered properly especially after spending the last week with the new oscillator. When the EA fires will be important. It was deadly at the right times, horrible at quiet times. In one three month period it was up 532% and then it lost what it gained, but all in time, I need to trade as well.
Cheers.
As usual, use the indis at your own risk, I am only giving back what I can to a forum that has given me so much.