Great technique for beginners...

[tbow]

Hello FXQUEST, Thank you so much for the coding, that's exactly what I needed and the great details are appreciated.

Have you considered using the Moving Average Line as the stop ?
Specifically, I would say, after price has moved up so much that the stop loss is set to break even (+10 Pips), then set the stop loss to follow the moving average line.

Looking at the charts, It does keep you in profit and on the really big swings, it can keep you in the proft taking.

Cheers~~
TBOW

[fxquest]

Hi TBOW,

I am glad to hear that you find the expert helpful.

If you look at the expert thread (the name of the thread is "KS expert")you will see that this is already included in the expert since version 1.5 . It is only used to cut the losses and not for profit taking. It really reduced the average stop. So far I did not find an effective way to switch from a trailing stop to MA following after X pips altought this was exactly the idea .... 1.5 also includes other things such as popup alerts and other improvements.

If you have other ideas or if you have time to help with forward testing it will be appreciated.

Thanks,
fxquest

[Akash]

Originally Posted by T4fast

30 min chart has too much of noise, hourly is better.
Crossing of the red line and the blue line is more secure than the crossing of the price with the blue line.

Hi T4fast,
When I was coming up with this technique, I had checked the 15m, 1h, 4h, daily besides the 30m chart, after doing a lot of back testing, I found that the 30m was the safest, because on 15m there is a lot of noise, the 1h catches the trend almost when its over, or doesn't catch it at all, the 4h and daily asked for huge stop losses and trades come very infrequently. Even on the hourly trades come quiet infrequently. THE WINNER ladies and gentlemen- 30m...
Rockin' Tradin'
-Akash

[Akash]

Originally Posted by SRoberts_

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)

Hi Steve,
I was wondering how the expert is doing on your dedicated system. Still in profit ? Let me know..
Rockin' Tradin'
-Akash

[Black Dog]

Originally Posted by Akash

Hi,
I am going to discuss my technique once again, because it has some-what changed since my original post.

Settings:

-Use the Kijun Sen (KS) line in the Ichimoku Kinko Hiyo indicator (by default it is the blue line in the indicator), use default settings, which are Kijun: 26 and Kijun-Shift: 9.

-Use the 20 Linear Weighted Moving Average (LWMA).

-Use only 30 min charts, but you can use hourly charts to have a look at the basic trend.

-Trade only 5AM to 5PM GMT.


Procedure:

-Once price crosses the KS line, either up or down, look at the MA and wait for it to curl in the direction of price.

-When the MA is curled, the value of KS line is your entry point. Always wait for price to retrace slightly from the KS line, so as to cover the spreads.

-Once you enter the trade, 90% of the times, the trade will go in your way (if you checked everything and entered at right price), so when it goes to +10 pips, move your stops to break even. 20% of the times it will come back, hit your stops and then reverse again...but at least you save your money.

-I close at +20 pips profit, but if I catch a long term trend then I try to hold on.

-Once you exit and make about 40-50 pips in a day, go out for beers.


CAUTION:

Underline, bold and italicize these points in your mind.

-Make sure that the MA is curled in the direction of price, when price reaches the KS line. Remember, if it isn't curled, then it might probably be a whipsaw. There is always tomorrow and there always will be more trading opportunities. Don't trade today until you don't see something you're sure about.

-Don't enter a trade, if price hits the KS line when it goes almost vertical and price is ranging 5-6 pips. This system is meant to catch trends. It can, but you just have to wait.

-Farther the MA curls around from the KS line, safer the trade.

-Short when MA is over the KS line and long only when MA is underneath the KS line.

-NEVER ENTER IF PRICE HAS PASSED THE KS LINE, ALWAYS WAIT FOR A RETRACE.


I guess that's about all of my system, please let me know if anyone has any doubts and I would love to clear them out. I would also appreciate your comments on the system, even criticism would help.

Rockin' Tradin'
-Akash

hi Akash...
I wonder to reading your post for LWMA since i have difficulties to find one in my MT4, so could you clearly explain what MA is LWMA & where could i find in MT4 platform...?
One more could u help me to define MACD setting since i tried my self to used it & has some difference looking as i saw in ur charts before....?

Thanks
Tom

[faizy999]

MA for Moving Averages. LWMA for Linear Weighted Moving Average.
When u click insert > indicators > trend > moving averages.
then a pop up open in it select the parameters tab in which u see MA Method set it to Linear Weighted also tune other values if needed

[SRoberts_]

Hi Akash,

Please see my post #6 in other thread started by FXQuest

http://www.moneytec.com/forums/showthread.php?t=17091

Regards

Steve.

[Black Dog]

Originally Posted by faizy999

MA for Moving Averages. LWMA for Linear Weighted Moving Average.
When u click insert > indicators > trend > moving averages.
then a pop up open in it select the parameters tab in which u see MA Method set it to Linear Weighted also tune other values if needed

HI Faizyy999

Thanks.... it works....
But i still waiting Akash or any body could answer my MACD question...

tom