Yet another newbie system!

[sr2]

OK here is a quick taster of the new system. I am not publishing the system itself until I have carried out some more testing research. So far this year the system generated the following trades (I am sticking to the same 100 SL TP for now):


GBPUSD
======
03/01/2005 1.9117 ==> +100
17/02/2005 1.8884 ==> +100

USDJPY
======
07/01/2005 104.04 ==> +100

EURJPY
======
28/01/2005 134.72 ==> +100
14/02/2005 136.05 ==> +100

USDCHF
======
02/02/2005 1.1888 ==> +100


GBPJPY
======
14/02/2005 196.66 ==> +100

EURCHF
======
14/02/2005 1.5539 ==> +100

USDCAD
======
19/01/2005 1.2252 ==> +100

AUDUSD
======
26/01/2005 0.7662 ==> +100

EURGBP
======
NONE


As you can see so far this system has been 100%. I am not for a second saying that this system will always produce winners. I'm sure this system like any other will have good periods bad periods therefore requires a lot more testing.

Also as you can see there have only been 10 trades since the start of the year. The system uses the same setup as the YANS system except that the entry is slightly different.

I will keep you posted on this one too.

SR2

[amin1000]

SR2
Thank you for your descriptive reply. I am using both MT3 MT4 on my system (because some of the indicators created on this forum do not have the MT4 version) None of the platforms have given me problems WMA's always stayed the same in MT4 even after frequent updates. But I saw the difference after I changed them to EMA's. That can change many things!

There are only two systems on this forum that I am practicing on demo for now. Both of them are just simple. Yours BunnyGirl's. By the way what is your comment about BunnyGirl's system?

Thanks

[sr2]

Originally Posted by amin1000

SR2
Thank you for your descriptive reply. I am using both MT3 MT4 on my system (because some of the indicators created on this forum do not have the MT4 version) None of the platforms have given me problems WMA's always stayed the same in MT4 even after frequent updates. But I saw the difference after I changed them to EMA's. That can change many things!

There are only two systems on this forum that I am practicing on demo for now. Both of them are just simple. Yours BunnyGirl's. By the way what is your comment about BunnyGirl's system?

Thanks

Hi amin1000

Glad things are looking better. I am still waiting to hear MT support. I did not have any problems with MT3 but am suspicious as there are so many updates to MT4. In fact there was an update today. After the update I checked the setup again. It was ok. Anyway lets see what they say.

BG's system is very good. I would recommened it as a starting point for any newbie. In fact it was one of the reasons I decided to go down the MA crossover route. BG is very talented a lot can be learned the way she trades.

SR2

[amin1000]

Thanks for your comments SR2.
One question:
Sometimes EMA40 PSAR don't sharply cross they rather move right on top of eachother for a while (like the recent EUR/USD).
What should be done when this happens?

I have attached the screen photo.

Thanks

[sr2]

Originally Posted by amin1000

Thanks for your comments SR2.
One question:
Sometimes EMA40 PSAR don't sharply cross they rather move right on top of eachother for a while (like the recent EUR/USD).
What should be done when this happens?

I have attached the screen photo.

Thanks

Hi amin1000

your screenshot I can see that the PARSAR crosssed the EMA40 without any problems. I am attaching your screenshot with the crossover highlighted. You are only looking for the first crossover then nothing else. Remember the rules

1) First EMA40 crosses over EMA10
2) PARSAR crosses or touches EMA40
3) If the open price is within 100 pips of EMA40 you have a trade

So in the case of your screen shot you would buy at the open price with a SL TP of 100. I think in this case it would have been 100pip profit or more with a good exit strategy (as I keep saying)

Hope that helps
SR2

[amin1000]

Dear SR2

I know that the PSAR cross should be after the two EMA cross. Thanks for your clarification though.
Actually what I meant was in case such an overlap (PSAR in previous picture) occur right after the two EMA cross what should we do? When do we enter?

I have a second question regarding another case attached to this message. Is this case considered to be a PSAR cross or not? Because here PSAR ends right when the two meet. What should we be doing here?

Thank you

P.S.
I can't wait to see your "new improved system" published. Htly as a newbie I am a fan of very simple systems like yours. No headache for checking 10 indicators along with other charts based on different time frames for an entry!Please keep it as simple as possible although you get many good suggestions others. Do you know if anybody is using your current system live? Is your definite plan to go live for a mini at the end of Feb.?

[sr2]

Originally Posted by amin1000

Dear SR2

I know that the PSAR cross should be after the two EMA cross. Thanks for your clarification though.
Actually what I meant was in case such an overlap (PSAR in previous picture) occur right after the two EMA cross what should we do? When do we enter?

Hi amin1000

Basically as long as the PSAR touches or crosses the slowMA get in the trade. Also you can sometimes wait. If the markets are not moving fast then you can wait for a while in case you get a better price. For example the current USDJPY trade had an opening price of 104.59 but I got a price of 104.72 because I checked the charts late. The nice thing is there is no rush to get into the trade immediately as you can often get a better price. Hope I answered your question. If not please can you ask again...I'm a bit slow sometimes

Originally Posted by amin1000

I have a second question regarding another case attached to this message. Is this case considered to be a PSAR cross or not? Because here PSAR ends right when the two meet. What should we be doing here?

Thank you

Again you should get into the trade. I am sure that with a bit more investigation there may be a better answer to your question. Even though there has been a big reversal in the price. The important thing is sticking to the rules for now then adapting them to your style of trading. I know that the price went up a bit today the last time I checked my trade it was up 35pips. It has probably fallen back but that does happen with this system. Sometimes the SL/TP is hit quickly other times it can take days...just have to be patient. Saying that if you feel that the trade does not look right then get out. For example some ps are somewhat correlated so if the charts indicate opposing trades then you may want to check that before entering. I have been trying to create a system which is a no-brainer i.e. do this this you should be profitable...only time with will tell if it works out this way

Originally Posted by amin1000

P.S.
I can't wait to see your "new improved system" published. Htly as a newbie I am a fan of very simple systems like yours. No headache for checking 10 indicators along with other charts based on different time frames for an entry!Please keep it as simple as possible although you get many good suggestions others. Do you know if anybody is using your current system live? Is your definite plan to go live for a mini at the end of Feb.?

I do not know if anyone is using the system live. If they are I would suggest taking it slow as the system is still very new. I will definitely be live trading in March

January was a good month for the system. February looks like it may be a loser...not sure yet. The system is still up 100pips with 2 open trades another trade or two may just get in. Lets hope its profitable even if it is only 100 pips that way we have 2 out of 2 winners.

SR2

[robber]

Hi SR2 I'm really pleased to see that youve figured out what the problem was. Looking forward to more info on your new ideas.

Keep up the great work


Neil