Great technique for beginners...

[SRoberts_]

In reply to Sonmel and anyone else coming to this thread late.

With regard to current success or otherwise of Akash's system, I think the jury is still out on that one.

Myself and FXQuest are currently forward testing a Meta Trader expert that FXQuest has written.

Initially my own results with a $5,000 d e m o account trading were not good, with almost half the account blowing in just over a week. However I temper that result with the fact that I had ran the expert on a PC I do my daily work on (I write software for a living) and therefore Meta Trader had not been running consistently everyday or even for the full session each day. I also used it to trade on currencies that hadn't been back tested and therefore had incorrect stop loss and other parameters that probably didn't fit.

HOWEVER !!!

Since Wednesday this week I have setup a dedicated PC on my home network which now runs Meta Trader 24x7, although the Akash expert only trades between 5am - 5pm GMT.

So far my trades for Wednesday and today have seen a $450 profit, with no losses (although I manually closed a few trades)

I'm not leaving the MT Expert to it's own devices though, and am manually managing the the exit of some trades either due to other indicators I'm using such as channel direction/size along with support and resistance lines.

I would definitley say that for any 'newbie' wanting to learn the market, Akash has hit on a way of getting your trades in and out with modest PIPs profit.

The trick with this system like any other is to not rely on the system alone to make (or loose !) your money. There's still no magic cure for long hours of reading and trying out trades on a d e m o account.

Hope this helps.

Regards,

Steve.

[polo0258]

Very interesting, has anybody used this technique on a live account?

[SRoberts_]

I haven't as yet, I only have 1 week inconsistent and 1 week consistent trading on this method.

I intend to demo trade this system for at least 1 - 2 months before I go any further.

But that may be more to do with the fact that I'm only 2 months into learning FOREX trading and don't want to rush in.

Rest assured, I'll certainly be updating my experiences with this system here.

[Karsten]

Originally Posted by polo0258

Very interesting, has anybody used this technique on a live account?

Last week I found 4 live trades. It worked 3 times for a net 57 pips. This week I haven't found any trades during my trading hours(8am-12midnight EST). There seems to be many trades at the London open, but I'm sawing logs at 2am. Oh well, what can I do.

[metal]

Originally Posted by Akash

HOW IT STARTED

Well, after blowing a $10,000 account and eating up almost $5,000 of my new account

Akash,
if you have lots of money to waste, why not give it to some charity. There are a lot of needy people these days.

[tbow]

Hello everyone,

Does anyone know to add the coding to Kijun-Sen expert posted ealier in this thread that will send an email alert when the KS line crossed the price line?

For anyone testing this system in demo trading, it would be nice to be alerted when the KS line crosses the price line so that you can pull up your chart and check trading indicators for a possible trade.

I am guessing it will look something like this, but I am not familiar enough with this code to make it work or where to insert it in to the original code at the bottom of this post. Seems simple enough if you know what your doing, but I don't :-(


if (Ask == Kijun)
{SendMail("KS ALERT","Price just crossed at Kijun-Sen Line");
};



Cheers~~and successful trading to all!
TBOW




HERE IS THE ORIGINAL KIJUN-SEN

//+------------------------------------------------------------------+
//| Ichimoku.mq4 |
//| Copyright © 2004, MetaQuotes Software Corp. |
//| Copyright © 2004, AlexSilver â ïëàíå + |
//| http://www.metaquotes.net/ |
//| http://www.viac.ru/ |
//+------------------------------------------------------------------+
#property copyright "Copyright © 2004, AlexSilver â ïëàíå +"
#property link "http://www.viac.ru/"
#property indicator_chart_window
#property indicator_buffers 2
#property indicator_color1 Red
#property indicator_color2 Blue
//---- input parameters
extern int Kijun=26;
extern int KijunShift=9;
//---- buffers
double Kijun_Buffer[];
//----
//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
int init()
{
//---- Âûâîä Kijun-sen
SetIndexStyle(1,DRAW_LINE);
SetIndexBuffer(1,Kijun_Buffer);
SetIndexDrawBegin(1,Kijun+KijunShift-1);
SetIndexShift(1,KijunShift);
SetIndexLabel(1,"Kijun Sen");
//----
return(0);
}
//+------------------------------------------------------------------+
//| Ichimoku Kinko Hyo |
//+------------------------------------------------------------------+
int start()
{
int i,k;
double u=0;
int counted_bars=IndicatorCounted();
double high,low,price;
//----
if(Bars<=Kijun) return(0);
//---- initial zero
if(counted_bars<1)
{
for(i=1;i<=Kijun;i++) Kijun_Buffer[Bars-i]=0;
}
//---- Kijun Sen
i=Bars-Kijun;
if(counted_bars>Kijun) i=Bars-counted_bars-1;
while(i>=0)
{
high=High[i]; low=Low[i]; k=i-1+Kijun;
while(k>=i)
{
price=High[k];
if(high price=Low[k];
if(low>price) low=price;
k--;
}
Kijun_Buffer[i+KijunShift]=(high+low)/2;
i--;
} i=KijunShift-1;
while(i>=0)
{
high=High[0]; low=Low[0]; k=Kijun-KijunShift+i;
while(k>=0)
{
price=High[k];
if(high price=Low[k];
if(low>price) low=price;
k--;
}
Kijun_Buffer[i]=(high+low)/2;

i--;
}
//----
return(0);
}
//+------------------------------------------------------------------+

[fxquest]

Hi tbow,

You do not need to change the indicator inorder to get notifications.

For example, if you want to add notifications to the KSRobot all you need to do is add the following before the return (1) and return (-1) lines in the OpenPosition function (as you can see you can do alot more than just send an email :

...
longentry = NormalizeDouble( KS, precision );
// Place notification code here ..
SendMail("from your expert", "Price dropped down to "+DoubleToStr(lastclose));
SpeechText("Price dropped down to "+DoubleToStr(lastclose));
PlaySound("alert.wav");
Alert("Close price coming ", Close[0],"!!!");
// End of notification code
return (1);
...

If you realy want to get notified on every cross (and not on every expert decision to buy or sell) place the notification line after the cross tests (once for long and once for short) :

if ( Open[0] < KS && lastask < KS && Ask > KS && longcross == 0 ) {
// notification code here for long cross
}
and

if ( Open[0] > KS && lastbid > KS && Bid < KS && shortcross == 0 ) {
// notification code here for short cross
...
}

There is another thread ("KS Expert") where KSRobot specific topics are discussed.

I hope this helps.
fxquest

[new-trader]

Hi,
I'm totaly a novice in the trading world with less than month when i opened a live account with FXCM. This thread realy made me open my eyes wide while reading the valuable technics by Akash and the replies by others, will done all.

However, there are some unclear points which i would be grateful if someone could shed some light on

1- What is exactly the MA , and how can i apply Linear Weighted Moving Average (LWMA) to my charts.?

2- I'm also using the MT4 with a demo account for the great charts. I can't figure out how to let the robot take care of the trading.

Its 2:30 am here (GMT+3) when i'm writing this and i think there are some other questions in my mind but could not remeber cuz i'm half sleepy already.

Thanks all.