Simple system(Trend trading system)

[oathbreaker]

Hi,
How many fx pairs you trade using this system? What is the winning ratio and edge? Do you think we can have a "Dashboard" to show all fx pairs?

Hi forex.rapheal

Sorry for the late reply.I was on vacation.Right now i am trading only 2 pairs.This system can be used with any number of pairs(JPY pairs are more volatile so, for this system you have to use larger s/l).Last year i made 28000 pips on this two pairs itself(ya it is 28000 pips u read it correct).But it all depends on risk/reward what your are looking at.It doesn't mean i didn't losses.i even had 15 consecutive losses but had pretty good wins too.my risk reward will be from 1:3 to 1:100.Nothing less than that.Regarding edge, it is just like inside bars and pin bars.The main advantage of any IB and PB are low-risk entries(i.e., you lose less but if you win reward will be huge).
Even this system is same as that.Try to understand this system.As i told you this is a trend trading system.

Let me know if u don't understand the system.I will put more examples.

Regards
Prakash

[smeden]

hi
Nice simple system.

So If you are in a buy from the day before and you get a sell signal. What do you do? Do you close your buy and enter the sell?

[smeden]

Hi I can program your system but need more info.

[garyfritz]

I don't see any entry filter or decision other than "is it going up or down?" Do you enter a position at the opening of EVERY daily candle? Then do you add on another position at the start of EVERY subsequent daily candle until your position closes out in profit, or hits your stop?

[oathbreaker]

hi
Nice simple system.

So If you are in a buy from the day before and you get a sell signal. What do you do? Do you close your buy and enter the sell?

Hi smeden

I don't close any leg.If i am buy the previous day then i will move it to b/e the next day or close it for small loss.I will only add next leg on any time frame after i move the previous trade to b/e.Close the legs is up to u.I will close only when my leg hit 1000 pips each.

Let me know what other information is required.We will discuss in this forum.

Hope i answered ur query,If not please post your question back.

Regards
Prakash

[oathbreaker]

I don't see any entry filter or decision other than "is it going up or down?" Do you enter a position at the opening of EVERY daily candle? Then do you add on another position at the start of EVERY subsequent daily candle until your position closes out in profit, or hits your stop?

Hi garyfritz

Thanks for your post,actually i am waiting for this question.

Yes,I enter at the opening of Every daily candle.I will keep on entering at the start of every subsequent daily candle only after moving previous position to B/E or hit my s/l.

If price is not making any higher high or my last 4 positions died for loss then i will wait till price moves away from that range.

Regards
Prakash

[oathbreaker]

Hi all

Here are my charts for this month on EUR/USD.
Hope this helps every one.
If there are any further updates i will post here.

Regards
Prakash

[cruxs]

Hi Prakash,

I can help you coding the system into an EA, but I need clear instructions to put in the code.

The instructions should be:

When to Open Buy
When to Open Sell
When to Close
Stop Loss
Take Profit
Any other instruction (like trading hours, money management, etc.)

I'm going to start coding with the simplest rules that you posted.

Open Buy when current candle close is higher than last bearish candle open.
Open Sell when current candle close is lower than last bullish candle open
No close instructions
StopLoss 15pips
TakeProfit 30 pips.
Trading hours from London Open to New York Close.

Just remember that an EA can´t ask itself what is going to happen in the day, we have to give the proper instructions to open and close trades.

[oathbreaker]

Hi Prakash,

I can help you coding the system into an EA, but I need clear instructions to put in the code.

The instructions should be:

When to Open Buy
When to Open Sell
When to Close
Stop Loss
Take Profit
Any other instruction (like trading hours, money management, etc.)

I'm going to start coding with the simplest rules that you posted.

Open Buy when current candle close is higher than last bearish candle open.
Open Sell when current candle close is lower than last bullish candle open
No close instructions
StopLoss 15pips
TakeProfit 30 pips.
Trading hours from London Open to New York Close.

Just remember that an EA can´t ask itself what is going to happen in the day, we have to give the proper instructions to open and close trades.

Hi cruxs

Thanks for your help.

Here are the instructions.

For Eur/USD Daily...stop loss:30 pips and take profit:500 pips

At the open of daily candle(asian session),If price is above the open of previous down bar then open a long.
Else if price is below the open of previous up-bar then open short.(s/l:30 pips n t/p:500 pips)

Scenario-1:
After opening the first position,if price moved 30 pips in our direction then we will open another position and moving the first position to b/e.S/l of the second position will be at the low of the candle in up-trend and vice-verse in the down trend.

Scenario-2
After opening the first position,if price hit our s/l then we will wait until price come back to open of the candle.We enter only at the open of the candle with s/l at the low of the candle in up-trend and vice-verse in the down trend.

If you have any doubt please read my first few posts it will be very clear.

Hope this answers your questions.

Regards
Prakash

[cruxs]

Thanks Prakash.

I'm coding your EA with those instructions. i'm calling it Prakash-PipEasy EA.

Give me until friday and then i'll post it here.