Yet another newbie system!

[sr2]

Hi robber

I will also check my setup. I have a suspicion that some of the settings are wrong. Not sure if other people have had similar problems but MT4 seems to update daily! I think it may have messed up some of my settings. If I get a chance this weekend I will take a look.

SR2

[milo]

I'm very impressed with your system and thought process SR2. It seems you have shed your "Newbie" feathers very quickly. This system is appealing on many levels. I thought you may want to know for future reference that VT has an expert for MA crosses. All you do is plug in the ma's you use and it will sound an alert when they cross. Of course you will have to then double check it on MT and wait for your entry but it should still save you some time.

Looking forward to your results for Feb.

Then again since you use the 4 hr it could be a day or 2 after the cross before your entry.

[amin1000]

Hi SR2,
thanks for your simple system.
I started using it by entering in the last cross of MA40 and PSAR (about 24 hours ago) but it is going down. Am I doing something wrong or I just have to be patient?

thanks.

[amin1000]

Sorry,
I was talking about USD/JPY.
maybe my first trade was among one of those unsuccessful trades. we will see the next opportunities.

[sr2]

Originally Posted by sr2

Hi robber

I will also check my setup. I have a suspicion that some of the settings are wrong. Not sure if other people have had similar problems but MT4 seems to update daily! I think it may have messed up some of my settings. If I get a chance this weekend I will take a look.

SR2

Hi

**** PLEASE READ FOR ANYONE USING THIS SYSTEM ******

As I mentioned I checked my MetaTrader setup over the weekend. I was checking the various indicators and upon changing the MA settings MT crashed. When I restarted MT, it refused to connect. I tried re-installing but nothing worked. In the end I deleted MT and all references to it on my HardDrive and in the registry. I then re-installed and it connected. Luckily I had saved my settings as a template. When I applied the template I found something strange. The MA came up as Exponential rather then weighted. Don't ask me why. I tried changing it to weighted but the crossovers did not match the trades I had made in January. So I switched back to Exponential and it all fitted. So basically it looks like I was using Exponential all along even though MT was indicating that I was using Weighted. I have emailed MT support to check and am awaiting a reply. I apologise if anyone has been using the settings and it has not worked quite like mine. Hopefully this should fix it. So just to recap the settings:

Exponential MA 10 period on close price = FastMA
Exponential MA 40 period on close price = SlowMA
Par Sar step = 0.02 Max = 0.2

I hope this clarifies things. Please let me know if there is anything else that people notice. I want to make sure that everyone can use this system profitably.

Also just to let you know I am working on a modification to this system which I am hoping will produce an even better success rate. If it proves successful I will publish the results

SR2

[sr2]

Originally Posted by milo

I'm very impressed with your system and thought process SR2. It seems you have shed your "Newbie" feathers very quickly. This system is appealing on many levels. I thought you may want to know for future reference that VT has an expert for MA crosses. All you do is plug in the ma's you use and it will sound an alert when they cross. Of course you will have to then double check it on MT and wait for your entry but it should still save you some time.

Looking forward to your results for Feb.

Then again since you use the 4 hr it could be a day or 2 after the cross before your entry.

Thanks for that Milo. I need to spend time looking at other platforms. Currently I use MT to tell me when to get into a trade. I am going to use GFT to live trade in the next few weeks.

Will post the results for all to see very soon.

SR2

[sr2]

Originally Posted by amin1000

Hi SR2,
thanks for your simple system.
I started using it by entering in the last cross of MA40 and PSAR (about 24 hours ago) but it is going down. Am I doing something wrong or I just have to be patient?

thanks.

Hi amin1000

Not entirely sure what you are asking me but I will clarify how I get into the trades and hopefully you can follow. I use Metatrader to confirm trades.

1) Setup the indicators I have mentioned
2) Wait for fast MA to crossover slow MA. This will let you know that there is a potential trade coming up. This usually happens several hours before the actual trade so you do have be patient
3) When the PARSAR crosses over or touches the SlowMA check what the pip difference is between the slow MA and the open price. If the difference is below 100 pips you have a trade. If it is more than 100 do not trade.
4) Set a SL and TP of 100 pips. The TP needs to be investigated because as I mentioned in a previous post there are a lot more pips to be had if the TP strategy is setup correctly

These are the very basic rules I follow. I hope you can follow them too. The idea is to try to control your emotions (which I am still having difficulty with.) You can set the trades and walk away. The nice thing is the system gives you am idea in advance of potential trades i.e. the MA cross so there is a potential trade. You can them check back every 4 hours for a trade.


Hope that helps

SR2

[sr2]

Originally Posted by amin1000

Sorry,
I was talking about USD/JPY.
maybe my first trade was among one of those unsuccessful trades. we will see the next opportunities.

Hello again amin1000

I can confirm that this trade hit the SL. So basically -100 pips.

Just to give you an idea of the trades this month:

5 TP trades +500
4 SL trades -400 (including the lastest USD/JPY)

So so far this month the system is up 100 pips. Not looking brilliant but I think there will probably be a few more trades this month so lets see. Plus profit is profit. And again to repeat I think that a good exit strategy would have netted a lot more pips. You will see when I post the full results and follow the trades through.

SR2