Yet another newbie system!

[compro00]

SR2.............. where are youuuuuuuuuuuuu ???????????????????????

[Attiqul]

Hello everyone,
I just started reading about currency trading and I am practising with RefcoFX demo system. I have also just downloaded MetaTrader4.

This probably is a very very easy thing to do, but being new I dont know how to do it. On MetaTrader Charts if I want to see previous months prices not currently showing on the chart I would left click on the chart with my mouse and move it to the left. Now once the current price changes or I let go of the mouse the chart goes back to the present time. How do I stop this from happening.

Another thing I realised is that the prices on the charts on MetaTrader are slightly different from the prices on RefcoFX platform and their charts. Has any body else noticed this?

Finally, about this trading system we are discussing here. Where the SARPAR crosses the slow MA, do we check the current open price of the particular currency pair and the value of the slow MA, if this is less than 100pips we trade??? Is my understanding correct.

Also, finally finally where is the man himself??????????????

Thank you for ur help.

Attiqul.

[TheWolf]

Originally Posted by sr2

Hi all

Hope you are having plenty of success in your trading.

I am a newbie to trading and would like to share my system with you and hopefully get lots of feedback. Basically I tested this on paper using Metatrader as I am not proficient enough to code Metatrader to back test automatically, so if anyone can help with that I would greatly appreciate it.

The system is very simple, which I think for a newbie is a good option. There are a few issues with the system such as drawdown and timescale as you will see, but having said that the profits can be quite good and you do not have to sit at the PC all day long.

The system is basically using 4 hour charts with 10wma and 40wma crossover with Parabolic SAR (0.02, 0.2).

1) Wait for fast MA to cross slow MA
2) Wait for PSAR to touch or crossover the slowMA from below for a buy or above for a sell (hope thats clear)
3) If the fast MA is less than 100pips (still experimenting with this) away from the slow MA you have a trade signal

(see attached image)

I use a stop loss of between 50 and 100 depending on the volatility of the currency pair. I start moving my trailing stop up as the profit goes over a 100. But like any kind of trading I use my own judgement too. The nice thing is you do not need to watch the trades all day long. You can just put them in and leave them if you like, using a stop loss of 50 and a take profit of 100-150 and check every 4 hours if there are any new trades.

Manual backtesting has produced the following results (from January 2004 up to and including July 2004). Unfortunately due to personal circumstances I was unable to continue testing and would ideally like to complete the study using Metatrader. Also as this was manual backtesting there maybe some errors:

GBPUSD
======
4 trades
4 winners
0 losers

Total pips: 1416


AUDUSD
======
7 traders
5 winners
2 losers

Total pips: 852

EURUSD
======
8 trades
6 winners
2 losers

Total pips: 674

USDJPY
======
10 trades
6 winners
4 losers

Total pips: 1145

USDCAD
======
10 trades
6 winners
4 losers

Total pips: 747

GBPCHF (needs more testing)
======
6 trades
3 winners
3 losers

Total pips: 3199

EURGBP
======
11 trades
2 winners
9 losers

Total pips: -224


Total trades: 56 trades
Total Winners: 32 winners
Total losers: 24 losers

Total pips: 7809

As you can see there are not that many trades in the year which I think is quite good as it means you can do other things instead of having to sit at the PC all day long. This is a longer term trading system.

Any comments, suggestions or queries are welcome.

Thanks for reading and apologies for the really long post.

ps. please note as I mentioned in a later post in this thread. The MAs are exponential MAs not weighted as stated above.

Does anyone know how to create an expert for this?

[Attiqul]

someone answer my above post please.

Also, does anyone know any alert services that will let you know when a crossover has happened? That would save us time.

Attiqul

[Zorbas]

Hello group

I am new to forex, and registered here a few days ago.

I found this thread early on, and have tested the system on SBFX demo.

If I have done this correct, I see we may have an opportunity now in EUR/JPY 4H chart.

Anyone able to suggest some other good indicators that can tell us more about the strenght of this trend?

I want to jump into this trade, but as a newbie I would like to hear others opinons first.

Regards
Zorbas

[sr2]

Hello everyone

Apologies for my lack of posts recently.

I have been on a charity cycle in Kenya/Tanzania to raise money to feed children out in Kenya. All the riders combined managed to raise over £250,000. This money will be held in a bank account and the interest used to feed over 14,000 children 1 hot meal per week, for life. It was a very m oving experience and I now appreciate even more what I have. I am in the process of setting up a charity myself. The idea being that the money donated will be invested in an FX fund and the profits used to feed children around the world. If anyone can help with ideas, systems, guidance I would really appreciate it. I will probably start a new thread rather than bog down this one.

Anyway I got back yesterday and am still recovering. I will try to look over all the charts and systems and post updates, this weekend. Sorry for not replying to emails and posts. I will try to get round to replying to all soon.

Take care
SR2

[amin1000]

Attigul,

you can turn off the "auto scroll" by going to "charts", "auto scroll"...

good luck.

[amin1000]

Welcome back SR2!

On behalf of all, i would like to say that we are all proud of your involvement in charity works

Your system is still one of the very promising ones.
Waiting to see all the updates and also the new version.
Keep up the good work...

amin1000