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The Simplest Forex Strategy

Sir. Williams (wilfredoaa)
Nov 04 2010 at 05:54
82 posts
Guys and Gals,

I am testing out a simple forex strategy. I need your help testing it.

I created a web page to explain it.

https://ewilfredo.com/simplestrategy.html

Check it out and try it and let me know how you did.
Give me some feedback on weakness or strengths you see.

Is a manual system based on Eur/Usd H4.

Trade at least 10 trades and let me know how many pips you won and how many pips you loose.
Please try it out on Demo accounts. Don't trade it with real money.

Grace is the greatest thing ever!
mmccor05
Nov 04 2010 at 07:49
5 posts
Hey Sir. Williams,

I just ran across your indicator, and am looking forward to testing it out.

Just to make sure I understand:

Looking at the EUR/USD 4 hour chart, it has been about 6 hours since a line painted, and we're currently in an uptrend.

Once a line finally does paint along the uptrend, I want to take a short position?

Thanks!
Matt
Sir. Williams (wilfredoaa)
Nov 04 2010 at 15:37
82 posts
yes Matt.
Grace is the greatest thing ever!
Sir. Williams (wilfredoaa)
Nov 04 2010 at 15:39
82 posts
My skype user id is wilfredoaa if anybody has skype by any chance.
Grace is the greatest thing ever!
Sir. Williams (wilfredoaa)
Nov 04 2010 at 17:06
82 posts
In a sense those lines indicate support and resistance for the short swings. The other thing is if you leave the indicator on and then switch to daily charts. Draw a Fibonacci Retracement using the last line. You can go back to the 4 Hour chart where you are trading and get a nice idea of where price could bounce up next or potential targets.

I created a web page to explain this. Go Here https://ewilfredo.com/simplestrategy.html and click on Nov. 4 2010 live trade to review my previous trade and my current trade.

Or you can go directly to the update by visiting here: https://ewilfredo.com/nov4trade.html
Grace is the greatest thing ever!
Rolf Widmer (rolfwidmer)
Nov 05 2010 at 06:37
36 posts
an idea would be trading from H4 but in line with the D1 trend.
mmccor05
Nov 05 2010 at 08:31
5 posts
Have to say, this is looking pretty good so far.

One suggestion though: I seem to always miss the initial printing of each line, and therefore enter the trade late (or not at all). Would it be possible to make it beep or something when a new line is printed?

Thanks!
Matt
Sir. Williams (wilfredoaa)
Nov 05 2010 at 17:18
82 posts
Thx for the input guys. We are making history on this system because this system is being made as we go. I think you have a point Rolf and Actually... I am going to production of video using cam studio to go more in depth about it over the weekend.

I made a discovery on how this strategy will work amazing with a Fibonacci projection allowing you to trade either Daily charts or H4 time frame. So this way mmccor05 you won't missed the lines and know exactly how far you are in price and have profit targets and have more ideas on where the price is going. Giving you a foresight of the market.

Now the fibonacci projection is not the same as Fibonacci retracement, this is going to be very interesting so be on the look out on how this tool will work. Hopefully I can finish the video production and have the update on Monday.

Grace is the greatest thing ever!
mmccor05
Nov 09 2010 at 02:45
5 posts
Definitely looking forward to the video.

Haven't lost a trade when I've entered right after a line printing.

Matt
Sir. Williams (wilfredoaa)
Nov 10 2010 at 01:51
82 posts
The Fibo Expansion doesn't work for the same time frame. It has better results if you use it on Day charts. One thing that can help you signal the end of one line or the beginning of another one is cruising to smaller time frames. So lets say 15m is forming a down line and you are trading an up line on h4.. this could give you a warning that price action is changing.

The other thing is when you see small lines form on smaller times frames real quick that usually confirms longer movements down.
I will make videos but I am still testing some stuff. They should be available soon.
Grace is the greatest thing ever!
Sir. Williams (wilfredoaa)
Nov 10 2010 at 03:49
82 posts
K is official. The strategy will remain simple... just follow the rules

The more things I can add to it will just make it complicated and a looser strategy.

I will be creating videos based on the link above and remember just stay on the H4 EUR/USD if price move to much after the line has been drawn then stay away. Always trade close to the price action.

Grace is the greatest thing ever!
Sir. Williams (wilfredoaa)
Nov 11 2010 at 00:12
82 posts
I updated the strategy. I added a zig zag of lenght 20 to know what is the current trend.
Grace is the greatest thing ever!
Sir. Williams (wilfredoaa)
Nov 11 2010 at 07:36
82 posts
Since my Zig Zag strategy in forex is manual... sometimes I have to sit in front of the computer and watch price. Not anymore... I found out that FXCM has free alerts txt to my phone and also news alerts of the currencies I select. I think this is an awesome free service. Check it out!

https://www.dailyfx.com/charts/mobile_price_alerts/
Grace is the greatest thing ever!
Sir. Williams (wilfredoaa)
Nov 15 2010 at 09:54
82 posts
Does anybody know how to do mt4 coding? I would like to make this indicator an EA.
Grace is the greatest thing ever!
mmccor05
Nov 16 2010 at 05:15
5 posts
Made another trade using the strategy today, and it was a winning one.

Thanks for this!
Matt
SIM
pip2cash
Nov 16 2010 at 06:46
423 posts

wilfredoaa posted:
    Does anybody know how to do mt4 coding? I would like to make this indicator an EA.

How profitable is this EA?

SIM
Falk (fpuschmann)
Nov 16 2010 at 08:09
56 posts

wilfredoaa posted:
    Does anybody know how to do mt4 coding? I would like to make this indicator an EA.

I'll make a try coding your strategie in the next few days if I can afford some hours of my time.

Have a great day
Falk
mmccor05
Nov 16 2010 at 21:05
5 posts

pip2cash posted:
    
wilfredoaa posted:
    Does anybody know how to do mt4 coding? I would like to make this indicator an EA.

How profitable is this EA?

SIM

Well right now it's manual, so you have to be there when the line prints. If you notice it early though, it makes some great profit. I haven't had a losing trade with it yet either.

Sir Williams has done a great job

Matt
Sir. Williams (wilfredoaa)
Nov 18 2010 at 06:57
82 posts
Thanks guys for your input. I added more stuff to my site and added the advance version. I am trying to make videos. But in the meantime if you guys want skpe me and we can do live trades together.

Falk.. check out the advance version... if you can make an EA. The would be awesome even if you just added an alert sound would be very nice. My skype ID is wilfredoaa.
Grace is the greatest thing ever!
Sir. Williams (wilfredoaa)
Nov 22 2010 at 13:59
82 posts
Hey I created an Ea to trade zig zag.. but it needs a little touchs. If you know how to code a little maybe you can make it work... I created using Molanis.. an easy code builder.
Grace is the greatest thing ever!
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