View Full Version : The Pimpsters Simple system, not the holy grail, but darn close
Thanks for sharing. Going to follow with interest.
Daily chart on nzd jpy is ready to be short but the h4 tf hasn't met the criteria. It currently has a candle. I will enter commerce for short once h4 tf has turned. Celebrate nzd/jpy daily chart, it has peaked.
PP
https://www.forexsoutheast.asia/attachments/1519513140876739113.jpg
https://www.forexsoutheast.asia/attachments/1519513143438884927.jpg
Can you wait for the H4 candle to shut or do you input when you see it has turned red only for one minute?
Daily chart on nzd jpy is prepared to be brief but the h4 tf has not met the criteria. It currently has a green candle. I will enter commerce for brief once h4 tf has turned.
PP
Your rules do not make any sense.
You cite the RSI but you do not say how it's used.
You do not say which direction you exchange with an upper or lower group hit.
Do you await the H4 candle to close or do you input once you see it's turned red only for one minute? FraggleRock,
When the candle turns let us say red, as long as it is exactly the same color as the MACD, I'll enter the trade. Take a peek at NZDJPY, it's already started to make it's movement like I called, and after the candle gave me confirmation by turning reddish, I entered the trade. It didn't matter if it was a new candle or maybe not because I'm just using it as a entrance point to the Daily chart.
PP
Your principles do not make any sense.
You cite that the RSI but you do not say how it is used.
You do not state which direction you trade with an upper or lower band hit. Billbss,
Sorry for any confusion. I basically use the RSI as my sign for indiing tops and bottoms . So with the RSI settings of interval 8 and overbought level of 85 and oversold level of 15, after I get these signs from the RSI, I follow the rules for entry as stated. Hope I sort of cleard up things.
So basically, RSI is above 85 you go short, RSI is under 15 you move long.
PP
I was wondering if you're able to discuss what pairs you trade on this particular method?
Also, when you were trading on the lower time frames, what time frames were you using, if you do not mind sharing. Were the lower time frames no longer profitable or did you only want to go to a less stressful time frame?
I was wondering if you're able to share what pairs you exchange on this particular method?
Additionally, if you were trading over the reduced time frames, then what time frames were you using, if you do not mind sharing. Were the decrease time frames no more profitable or did you just wish to go to a less stressful time period? This works with all currencies, so long as it fulfills the standards.
I had been trading the M5 TF and it was really tricky since it is a counter trade system. Your time on every transaction needs to be great or it can and will take off on you. It was also stressful because my risk was quite high. The profits were good but you know the old expression, you wager big you triumph little, and you also lose large. After having 40 consecutive successful trades, I decided to change my tactics and egy while I was ahead. Every now and then I will exchange it that is when for me it's a no brainer not to select the trade. On occasion the setups are so simple. This egy really sets me at ease and extremely stress free.
PP
Thanks for responding. I can not wait until I am a member so I do not need to wait for my article to be eliminated first.
I can see what you mean about the reduce time frames. They can be very hectic.
If you don't mind me asking would you trade for a living?
This works with all currencies, as long as it meets the criteria.
I was trading the M5 TF and it was really tricky since it is a counter commerce system. Your timing on each transaction needs to be perfect or it can and will take off on you. It was also stressful since my risk % was very high. The profits were great but you know the old expression, you bet big you triumph little, and you also lose large. After having 40 successive successful trades, I chose to change my tactics and egy while I was ahead. Every now and then I will exchange it that is...
Thanks for responding so fast. I can not wait until I'm a member so I don't need to wait for my post to be eliminated first.
I will see what you mean about the reduce time frames. They may be quite hectic.
If you don't mind me asking do you trade for a living? No, I trade on my spare time and fortunately I am ready to get trades in at work because I exchange using Oanda's web based sysem. I also exchange MT4 when I am home. I utilize MT4 to send me signals and alerts to my phone when I am at work so that I can get my trades in.
PP
I shorted NZD/JPY just now at 63.63. I've my stop loss at 64.69. Is that the correct stop loss to utilize?
I look forward to a thread since I like the simplicity of this trading.
No, I trade on my spare time and fortunately I am able to acquire trades in at work since I trade with Oanda's internet based sysem. I also trade MT4 when I am home. I utilize MT4 to send me signs and alerts to my phone when I am at work so I can get my transactions.
PP
I hope I'm not bugging you or asking to many questions. I'm just trying to get my trading track and I believe this would be a fantastic place for me to get started.
I was wondering how do you consistently use a predetermined take profit or do you sometimes manually track your stop loss? I'm asking since your chart says you chose your trade using a 50 pip take profit and you risked 5 percent over the trade. If I'm right since your stop loss will sometimes be pretty large, your MM is very rarely 1:1.
I have some bizarre thoughts on MM but I just wanted to see how your trading moves since your trades probably are risking greater than what your goal is.
I entered brief at 63.63 on NZD/JPY and currently I am 32 pips on the commerce. I feel that the pair still has space to fall so I'm going to hold on the commerce and ride it out and see what happens.
Hey Pimpster, can save a template for MT4 and upload it, I got one of my charts setup like it on Oanda, but want to use MT4 much valued
My message was moderated because I believe I did not elaborate enough with my reply, let's say it more :
I believe your system have possible. Thanks for sharing it.
I would also like to get a MT4 template with this method. I coud try it and test it on some USD/CAD and EUR/JPY. I like those 2 pairs. Have you got more screenshots such as for your method?
I'll upload the MT4 template after I get the opportunity. I work during the day and that I don't have access to my platform. If you were able to get in the NZD JPY trade last night, you should have got a descent reunite on this one.
PP
I was able to make 46 pips on that trade which added a bit more than 2% to my own account.
Thank you for the call!
I'll upload the MT4 template as soon as I get the chance. I work through the day and that I don't have access to my platform. If you were able to get in the NZD JPY trade last night, you should've a descent reunite on that one.
PP
Hello Pimpster,
on your first post you discuss using MACD with the default configurations (12,26,9), but on your screenshots you utilize other settings (10,22,8)...
Can you explain the reason?
And exactly what do you utilize the ADX for?
I also saw you are using the H8 chart. . .can you elaborate on this?
Hello Pimpster,
on your very first post you discuss using MACD using the default settings (12,26,9), but on your screenshots you use additional settings (10,22,8)...
Could you explain the reason?
And exactly what do you use the ADX for?
Additionally, I saw you are using the H8 chart. . .can you elaborate on this? Olarion,
Yeah I can see the confusion. The ADX and MACD settings was just something that I was testing out that my father gave me who is also a trader and I just forgot to knock my settings. Disregard that.
I use the H8 chart for a signal too but not every platform gets the H8 chart. I simply revealed it as a visual showing the descent of this of this candle. Hope that cleared things up.
PP
OK, I have posted the template and indiors, use same template to the H4 TF. Since MT4 has MACD I did not include it. The RSI (which is the heart of the egy) has email alert too. It sends me my alert therefore that I do not have to search for it.
A few to keep an eye on for next week D1 TF, NZD/USD, AUD/USD and NZD/CAD. They should be getting ready to brief. I don't normally trade on Sunday's, and Monday's is an iffy for me unless there is really superior market movement. The fantastic thing of this egy is that without any market movement you will not recieve any trading signs. I will be observing those currencies and create some descent pips off them. Happy trading.
PP
https://www.forexsoutheast.asia/attachments/1519513161586183017.mq4
https://www.forexsoutheast.asia/attachments/15195131622072326858.mq4
https://www.forexsoutheast.asia/attachments/1519513166136056087.tpl
How are you doing with this method? Any update?
Hello!
This looks great, thanks for sharing, I am taking a peek today, theres one thing I want tot understand is, how do I get it to send me email alerts if the RI crosses? It doesnt appear to have the option in the properties and I've opened the indior in metaeditor but its all a bit greek to me, wondering if you could assist regarding the way to define my email addres and so forth?
thanks for your time!
ST
Hrmm analysis so far o good simply the real trades are VERY few and far between... be quite lucky to get two at precisely the exact same month by the appearances of things. . That analysing 5 major pairs so far. .
Hi everyone, I know this is a really old thread, however, the egy intrigued me, because it reveals a lot of potential. Has anyone tried this out or worked on improving it?
I have been working on tweaking this for 2 results, to reduce false signs in volatile states, and to improve the method on little timeframes to grow the trade opportunities each day.
(sorry no templates since I am using a mac, and dont have mt4, although I could run it on a mac, my graphics card isnt working correctly and utilizing mt4 through drama on mac makes it extrmely slow, therefore im trading over the Oanda net platform)
first off the changes I made to the indior settings were:
STARC bands, 3-15-2 (this widens the bands a bit more and helps reduce false signs during vlatile conditions or breakouts on little timeframes.)
RSI interval 8, with lower and upper bands of 80-20 rather than 85-15. When testing this egy, I discovered the limits 85-15 a little extreme and led to many missed opportunities.
Additionally I changed to using the OHLC bars instead of candlesticks, just because of the particular method they're my own personal preference as they more clearly show the meeting point between the pub and the starc ring. I also find they show the trend slightly more clearly
Additional use of SMA 50 and 150, for help of fashion identifiion
Changes to Method:
been trading solely on the USD/JPY, mainly because of the only reason, for larger pip moves and relatively lower spreads.
I have 4 timeframes open concurrently
-1m, set up with just the MACD, utilized for entrance into a sign in the 5M chart
-5m, 15m charts set up with STARC, RSI, MACD, used for receiving signals and entrance to signs of the greater timeframe above them
-1H chart, set up with STARC and RSi, just employed for an initial signal.
Primarily I keep looking for the first signal on the 5M chart, bar touching upper/lower starc band, and RSI lt;20/gt;80
once sign is confirmed, moved to lower timeframe, 1M, and await the pub and MACD signs to undo and enter the transaction. Small TP 5-10 pips
then proceed to the 15M chart, and wait to find out if there's a second signal, bar touching bands and rsi lt;20/gt;80, should so move back to 5M and angry for reversal of the curent pub and mACD to enter a trade. TP 10-15 pips
and repeat this this moving to the 1H chart, with a TP 15-20
Other items to note, is that though this egy works in all states, the signs do work better when it is trending.
When in a fashion, you will only get the signs in the RSI for the counter trend, however I discovered that results in a lot of overlooked transactions in the direction of the trend that are extremely high probablility trades. So I decided to use signs also in the direction of the current trend. Lets say for example we have a trend upward, whilst we'd be executing the counter trend signals of the bars bouncing off the upper bands and affirmation of the RSI, I would also have the long signs on the pullbacks, in which the bar touches the lower bands, no matter how the RSI in an uptrend will seldom fall to our confirmation zone lt;20, so we have to say around lt;40 RSI is good confirmation of the sign.
The RSI occasionally has to be treated a little subjectively, such as in a sideways market, it requires a lot of movement to try and get the RSI to the confirmation zones, so if you want to search for commerce opportunities, you have to preferably compare to current RSI level to preceding high lows of the RSI in which on the chart would have been a good trade entrance.
In terms of money management and SL's, I havnt been utilizing any SL, since these transactions work out in profit almost 90% of their time. As we're fairly much slipping to the commerce, it is far better to wait till the peak of the correction prior to shutting all transactions, and normally the transactions you made on the greater time frames will probably profit more then any loss of the transaction submerged on the smallest timeframe.
The real key to the egy is patience and discipline, and if you only trade on the perfect, no brainer set-ups, this is even a very good high risk-high leveraged egy, making upto 50% on your capital in a day that I have done very successfully on my little live trading account. This im mostly working on it because a minimal risk ergy which makes 1 percent on your capital per day.
Ofcourse still a work in advance, every egy requires a lot of time in testing and tweaking, would appreciate any feedback for improvement. But the intial results have been very good
Thanks,
Slum
How can you start the template? It sounds its in XML format?
Hello fellow traders. This is an amazing and an outstading forum. I have been trading actively for approximately 1Â 1/2 decades. I have learned much from this forum and very thankful for all the great indiors that I also have downloaded from here and I wanted to give something back. I believe in giving and sharing and passing it forwards. I think that I have a great easy system and there is always room for improvement so I thought I would post it and perhaps get some comments on it. I call this system (the pimpster grail) Anyway this system is so straightforward and easy any novice can do it successfully.
As all of us know, the market moves in 3 directions (up, down, and sideways). Some traders prefer to proceed with the trend, some commerce ranging markets, along with others counter commerce (most riskier). I am the counter trader. It's not an easy way to exchange but IMO it's the best way to exchange. If you can learn this, I think that you ought to have hardly any bad trades and I will explain how. Granted you won't receive as many trades as you would like, but if you do get a transaction it's pretty much as I prefer to say (MITB), cash in the bank. I traded this egy reside on smaller time frame risking a very large proportion of my capital (I won't say how much, just very high), and I doubled my capital in 3 months (mind you I stated this was reside trading and not demo). I have now toned it down a little and I am risking.
The secret to this trading system is to have patience and wait for a trading opportunity. Allow the indiors do the work for you and wait for you awake and signs for a trading opportunity. DISCIPLINE is the trick to trading and staying focused. This program works if you strictly adhere to the principles, and if anyone has any ideas to improve this system by all means. This is why I wish to discuss it with you. There is more than enough to share in the FOREX wealth world so why not share. The more thoughts, the more ideas, the better.
Below in the attachment is my commerce for today for 50 pips on the eur/jpy pair (that one was way to easy). This one was a great setup and basically I knew it was MITB. I would have went for more but I don't like to stay in trades past a certain time. I expect your comments, tips and improvements to this system.
Let's please keep this forum and discussion tidy from any negativity. We're here for each other and improve our trading skills and of course make cash.
OK so let's get it down and start making some pips.
Timeframes exchanged (H4 D1)
INDICATORS USED RSI, MACD, STARC BAND
I USE AN RSI INDICATOR THAT WILL ALERT VIA TEXT OR EMAIL WHEN THE OVERBOUGHT AND OVERSOLD LEVELS ARE BREACHED. IT IS ATTACHED.
H4 RSI ENTRY RULES (40 - 50 PIPS TP)
MACD (12-26-9), STARC BAND (5-15-1.33), RSI (PERIOD 8, Overbought 85, Oversold 15)
OPEN BAR ON H4 TF SHOULD HAVE PENETRATED OR IS TOUCHING THE STARC BAND INDICATOR UPPER BAND OR BELOW BAND (THESE WILL ACT AS S/R).
ONCE SIGNAL IS RECEIVED AND CONFIRMED, Await THE NEW BAR TO BE FORMED ON THE H4 TF. SWITCH OVER TO THE H1 TF AND OBSERVE THE CURRENT BAR. IF THE CURRENT BAR HAS NOT CHANGED TO THE COLOR OF THE DIRECTION THAT YOU ARE TRADING YOU MUST WAIT FOR THE NEW BAR AND IT NEEDS TO BE EITHER RED FOR SHORT OR GREEN FOR LONG.
THE MACD (DEFAULT SETTING, 12-26-9) CURRENT BAR ON THE H1 TF MUST BE THE COLOR OF THE DIRECTION THAT YOU ARE GOING, RED FOR SHORT OR GREEN FOR LONG. ONCE THESE CONDITIONS ARE MET ENTER TRADE WITH MARKET ORDER AND PLACE YOUR SL ABOVE OR BELOW THE PREVIOUS HIGH OR LOW ON THE H4 TF. TAKE PROFIT OF 25 -- 30 PIPS.
D1 RSI ENTRY RULES (70 - 100 PIPS TP)
MACD (12-26-9), STARC BAND (5-15-1.33), RSI (PERIOD 8, Over 85, Under 15)
OPEN BAR ON D1 TF SHOULD HAVE PENETRATED OR IS TOUCHING THE STARC BAND INDICATOR UPPER BAND OR BELOW BAND (THESE WILL ACT AS S/R).
ONCE SIGNAL IS RECEIVED AND CONFIRMED ON THE D1 TF, SWITCH OVER TO THE H4 TF AND OBSERVE THE CURRENT BAR. IF THE CURRENT BAR HAS NOT CHANGED TO THE COLOR OF THE DIRECTION THAT YOU ARE TRADING YOU MUST WAIT FOR THE NEW BAR AND IT NEEDS TO BE EITHER RED FOR SHORT OR GREEN FOR LONG.
THE MACD (DEFAULT SETTING, 12-26-9) CURRENT BAR ON THE H4 TF MUST BE THE COLOR OF THE DIRECTION THAT YOU ARE GOING, RED FOR SHORT OR GREEN FOR LONG. ONCE THESE CONDITIONS ARE MET ENTER TRADE WITH MARKET ORDER AND PLACE YOUR SL ABOVE OR BELOW THE PREVIOUS HIGH OR LOW ON THE D1 TF. TAKE PROFIT OF 50 --75 PIPS.
https://www.forexsoutheast.asia/attachments/1519513126939789968.jpg
https://www.forexsoutheast.asia/attachments/151951312841745647.jpg
https://www.forexsoutheast.asia/attachments/15195131311904388972.jpg
https://www.forexsoutheast.asia/attachments/1519513134211112561.jpg
https://www.forexsoutheast.asia/attachments/15195131361994608144.mq4
https://www.forexsoutheast.asia/attachments/15195131381311734560.mq4
Powered by forexsoutheast.asia® Version 4.2.5 Copyright © 2025 forexsoutheast.asia Solutions, Inc. All rights reserved.