Členom od Apr 11, 2011 202 príspevkovSplexin(Splexin)Apr 22 2011 at 19:41 (upravené Apr 22 2011 at 19:42 )
speki posted: Please have a look at the Insert menu of your Metatrader. You can put text labels and many other things on the chart. Also, I think you swapped the long and short entry levels? Long at 61.8%? It's at 25 % on the chart.
Ah, thank you for pointing that out. I was kind of in a hurry and didn't even think of using the text labels
You're right about me inadvertently switching the entry points!
It's suppose to be--
LONG- previous candle close > 50-SMA. Entry point <=25.0% Fibonacci level of previous candle. Stop loss = 61.8% Fibonacci level of previous candle. Take profit = lesser of SL x 2 or 5-period ATR.
SHORT- previous candle close < 50-SMA. Entry point >=61.8% Fibonacci level of previous candle. Stop loss = 25.0% Fibonacci level of previous candle. Take profit = lesser of SL x 2 or 5-period ATR.
speki posted: Well this is fairly simple, shall I say almost mechanical, not sure why none of the MQL geeks came up with a profitable EA? But since it should be traded on the daily, you could put in the limit orders once a day manually, if you're sure it's profitable.
Only one coder worked on it. At first it was horrible but improved when we made 'one trade/day or none' rule. We discussed grouping the profitable trades to see if they would correspond with a RSI or Stochastic etc
Yes, the system is designed to be traded manually, I was just curious how it would perform as an EA. Basically you spend 10-15 minutes a day max looking at charts, then either place limit order or stay out for the day. Number of winners and losers are 'supposed' to be 50/50, with the size of winners larger. Huge gains are not a priority of this system. It's generally meant to be a quick and effortless way of gaining about 10-15% a month.
Surround yourself with people whose eyes light up when they see you and who have no agenda for your reform.
Členom od Apr 11, 2011 202 príspevkovSplexin(Splexin)Apr 22 2011 at 19:57 (upravené Apr 22 2011 at 19:59 )
speki posted: Anyway, what position sizing do you recommend?
Well, the position sizing should be set according to your own money management rules. But a good risk/reward rule for this system is to only trade ten times your account balance (balance, not equity).
So if you have a $10,000 account then you would trade 1 lot on every trade, $20,000 then 2 lots, etc. For experimentation and testing purposes it's good to start out with 0.10 position sizes just to get an idea of how it works.
It is designed to be used on the EUR/USD, GBP/USD, USD/JPY, and AUD/USD, in that order. Have only tried it thoroughly on the Euro.
I swear to God I've recently read about a 'former bank trader' who shared his manual system here. Too lazy to start sievin thru the posts. You could've saved us all some time Sean if you tell the whole story. Why did that other chap call you Sean anyway? I don't see 'Sean' anywhere in your profile or here in the thread.
Ah, nevermind. Lenka's second album just came out,it's fuckin genius. Don't miss it. She's my astro twin by the way. Not that you'd care LOL.
speki posted: I swear to God I've recently read about a 'former bank trader' who shared his manual system here. Too lazy to start sievin thru the posts. You could've saved us all some time Sean if you tell the whole story. Why did that other chap call you Sean anyway? I don't see 'Sean' anywhere in your profile or here in the thread.
I actually hesitated in saying 'former bank trader' because all the systems seem to come from 'former bank traders,' when we ALL know that's a bunch of baloney. I got the system by word of mouth offline, that's the whole story. So I don't know who or what or where exactly it came from. I know it hasn't been shared here already though.
I had Sean as part of my username but then just decided to keep it all Splexin. Sounds cooler
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to
trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do not invest money that you
cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.
Any data and information is provided 'as is' solely for informational purposes, and is not intended for trading purposes or advice.