Advanced system #14 (Simple trading with Daily range)

Thats a good idea Josh - i might start being more selective as you say; if i have to start thinking about the trend and its not immediately apparent i am going to stay away. By the way, can i ask what cog settings you are using. i have three different cogs, two re-painters and a non-repainter but boy does the non-repainter suck some memory from my laptop and i wonder whether its worth it especially as i am only using it at a very specific point in time.

scott

HI ALL,

FIRSTLY I WOULD LIKE TO THANK EVERYONE FOR THEIR IDEAS AND THOUGHTS WITH REGARD TO THIS METHOD.

HOWEVER, AFTER MANY TESTS AND COMPARISONS, I AM GOING BACK TO MY ORIGINAL METHOD OF SETTING BOTH THE LONG AND SHORT ORDERS. THE RESULTS HAVE "OUT PROFITED" ANY OTHER. 1200 PIPS IN A WEEK CAN'T BE WRONG?

THE ONLY DIFFERENCE THIS TIME, IS I WILL BE USING THE AVERAGE DAILY RANGE, INSTEAD OF THE PREVIOUS DAYS RANGE. THANKS SCOTT FOR THE INDICATOR:

Average_Daily_Range.mq4

I HAVE ALSO ADDED MY "FINAL" SPREAD SHEET. ALL YOU NEED DO IS ADD THE DATE (optional ...HAHA), THE AVERAGE DAILY RANGE FROM THE INDICATOR, AND THE CLOSE PRICE AT THE START OF YOUR 24 HOUR PERIOD. IT WILL DO THE REST FOR YOU.

FINAL_25_MOVE.xls

IF YOU ARE TRADING ON A NON MT4 PLATFORM LIKE ME, CREATE A DEMO WITH ANY MT4, AND USE THAT FOR YOUR INDICATORS.

I WILL KEEP POSTING MY RESULTS HERE, AND WILL ALWAYS WELCOME MORE SUGGESTIONS AND QUERIES.

MANY THANKS, AND HAPPY TRADING,

STUART

Stuart and all SoS fans [Strategy of Stuart]

For those of you that have been trading 10 (or multiple) pairs, has anyone done a little study to determine WHICH of the ten have been regularly more promising [1 - % of winning days, and 2 - avg pip gain]?

Of course, none will be 'perfect,' but some may be much more favorable.

Best to all, David

Hi Stuart, I am new to forex. Thanks for the strategy. The column P in the excel sheet, I hope its the number of days in a month. we have to put down the Highs , Lows and Close for all the previous days in a month before we arrive at SL, TP for a day I guess. For eg.. For today the 20th march if we were to arrive at SL , TP the previous 19 days highs, lows and close has to be there in the excel sheet.?

Raj

Hi All (again)

Just a quick question for those of you trying this approach - has anybody got some hard and fast rules about determining the trend when you are getting ready to enter your orders for the day? The day has not been a good one in terms of determing the trend - perhaps I should stay away from anything where the COG or short sma I am using is approaching anything like the horizontal.

Would welcome any suggestions about what represents a good trade or not in terms of trend or is it as simple as - if it aint going diagonally dont bother with it?

Cheers

Scott

Hi Stuart,

You said using a 200ema is also a good indicator, is that on a hourly chart or what time frame?
I really like what you have done here.

Thanks for everything
Kevin

Hello All

Just following on from the discussion on average daily ranges (thanks Stewart for the spreadsheet)and to answer Kevin's question, I have been using an MT4 indicator called #(T_S_R)-Daily Range Calculator which averages the last day, 5 days, ten days, 20 days and a long average as well which i cannot recall the period for. Copy and paste the full name (starting with #)into google and the first link actually lets you download it straight into your MT4 Indicator folder and then just drag onto the chart.I have been using the main long term average.

Stuart, have you noticed any anomalies using the non-re-painting cog? I used the standard cog yesterday and the non-re-painting cog today and noticed that there was some variation on a couple of pairs as to whether they were short or long which i thought was slightly weird.

Scott

Hi David,

Thanks for the comments. :-)
I too am on OANDA? But ... I have a demo on a MT4 platform, and use that demo as a reference re charts and indicators. It helps me specially with the COG line and decision.

On OANDA, I have the 200 ema loaded as a guide too.

Regards,
Stuart

thank you for the reply Edward ur expertise helps us a lot

Hi Stuart

I am a newcomer to this thread, but have been thinking through a similar strategy to yours over the years! I like the way you have simplified the idea. A question: using metatrader, I download the data to the spreadsheet using the data window. I wonder if there is any way to automate that? This means I can set up some decision rules so can test a couple of new assumptions would like to build in. Will report back when I have any meaningful results.

Thanks for all the stimulating ideas.

Diana

Replying about how I traded last two times.
I used EST time with day start/end at midnight.

I used 25__MOVE_3.xls spread sheet for calculating all entries, exits etc with 25% rule. Everything by the formulas given there.

I used COG indicator (Center of Gravity 1.mq4) on 1 hour chart to tell me the trend direction. Depending on a trend, I placed only one order (either Sell or Buy).

I used a Stop loss originally recommended by Stuart - the stops from same 25__MOVE_3.xls spread sheet.

If no TP/SL was triggered, position was held till midnight and was closed manually.

Regards,
Edward

Hi all,

Another simple indicator is using the 200ema. If the price is above the ema, only place a long order, and if below the ema, only a short. Very simple.

Cheers,
Stuart

Stuart/Edward

For those of us on OANDA (or something else without COG) can you suggest a good proxy for COG? Perhaps a SMA of some size? Something else? Love Stuart's fine work but do need to be sure I am trading the proper direction.

Thanks to you both. Have a great trading day to end your week. It has certainly been a successful one so far on Advanced 14.

With much appreciation and best regards, David

Hello Edward,

Can you please discuss how you took the trades in detail? What percentage entry did you use, how about the stop? Was your target 1:1? Did you enter both buy and sell order or follow the cog on the i hour chart at the time of placing the order?

Thanks so much

Hi Kevin,

Follow this link:
http://forex-strategies-revealed.com/scalping/center-of-gravity
And don't change a thing on it. Just follow the center line on your H1 chart for direction.

Cheers,
Stuart