The Pimpsters Simple system, not the holy grail, but darn close - Page 3
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Thread: The Pimpsters Simple system, not the holy grail, but darn close

  1. #21
    How are you doing with this method? Any update?

  2. #22
    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

  3. #23
    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. .

  4. #24
    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

  5. #25
    How can you start the template? It sounds its in XML format?

  6. #26
    Thanks for sharing. Going to follow with interest.

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