Advanced system #14 (Simple trading with Daily range)

What if? this is just an example you short because the formula is saying to short. Then your trade goes down 30 pips. So you still have not hit your profit level. Then it starts going back up to the original opening of the trade. Do you close the trade where you started it so that way you break even & then wait to see where it goes?

Center of Gravity 1.mq4

Hi Stuart,
This looks good but the risk ratios are wrong. very often you have 1 to 2 instead of 2 to 1.
please advise.

Andy

Hi Stuart,

How did you discover this? Your Excel Sheet and the Template for getting out the HLC are wonderful. But in the Template I couldn't find the what you call centre of gravity. I live in Nigeria and believe this system will work well for cos my time is GMT+1

Thanks for sharing this.

John

Hi Stuart,

I'm having difficulty opening the daily range zip file and have done a search but not being too computer literate am not sure if I need to download a facility to open it. Any thoughts would be appreciated.

Much appreciate the spread sheet - would have caught this mornings rise on gbd/usd and the TP was hit on the button.

Many thanks

Paul

hi,

thanks for sharing...

how to set SL..?

Hi all,

Starting at the beginning of this week, Monday 09/03/09, trading only those pairs on my spread sheet, I have had only one minor loss of 30 pips with the GBPCHF on Tuesday, and a total profit of 992 pips for the week so far - we still have tomorrow to go?

Feel free to look back on your own charts to check my results? My 24 hour period is from 07:59 to 07:59 GMT.

Maybe this was a particularly good week?

Happy trading ... and may we all profit.

Stuart

Hi all,

Results for 12/03/09:

EURUSD + 60 PIPS
GBPJPY + 80 PIPS
GBPUSD + 55 PIPS
EURGBP + 28 PIPS
GBPCHF + 72 PIPS (Both orders triggered and TPs met).

Total pips profit for the day = 295

Happy Trading to all,

Stuart

ps.) Edward, I would really value your thoughts on this method? :-)

Hi all,

Updated spread sheet attached. Please download this one to replace existing.

25__MOVE_3.xls

Thanks,

Stuart

Hi all,

Just to give you my results only trading the EURUSD since monday, also only trading in the direction of the Center of Gravity line:

Monday: BUY ORDER +30 pips (closed trade at 07:59 GMT manually, TP not hit)
Tuesday: BUY ORDER + 42 pips
Wednesday: BUY ORDER + 53 pips
Today: BUY ORDER, currently at +26 pips and target is 60 pips.

Kind regards,
Stuart

Hi All,

With the last upload did - PLEASE IGNORE THE WELLXAMA INDICATOR FOR THIS METHOD. FOLLOW ONLY THE CENTER OF GRAVITY LINE.

Thanks,
Stuart

Hi all,

I have made a template with the help of some indicators to determine which way to set ones order for the day.
In the template I have the 'wellxAMA' indicator, as well as the 'Center of Gravity' indicator. How you would determine which trade to place is at the given time, look at the general direction of the Gravity line, and also at the 'wellxAMA' dot, or last dot.
If the wellxAMA dot or last dot is yellow - ONLY PLACE A SHORT ORDER.
If the wellxAMA dot is blue - ONLY PLACE A LONG ORDER.

I have noticed it works best, for me, only trading the GBP pairs, and setting orders just before the London market opens.

But one can choose any pair, and also any 24 hour period.

I have attached the spread sheet again, but with the formulae for both a 4 decimal and 2 decimal place pair.

DAILY_RANGE.zip

25__MOVE_2.xls

Thanks, and happy trading.

Stuart

Hi Marie

Thanks for your comment. I do have the stop Losses set at +10 and -10 respectively? I am currently also testing a trend indicator in order to only set one order, depending on the general trend. Also the "center of Gravity line" seems to indicate the direction. (http://forex-strategies-revealed.com/scalping/center-of-gravity)

I will post the indicators here as soon as I am happy with the results. I think it would be a lot safer to only set orders in one direction ... but need to filter which one.

Thanks,
Stuart

Thanks Stuart for your system.

I think the stop losses should be set to opposite order + 10 for shorts, and opposite
order - 10 for longs. Have you considered filtering the trades by the long term trend?

Thanks again

Marie

Hi Wayne and Synalon,

To answer your question Wayne ... yes, you set both orders at the same time. Hopefully one will trigger and exit soon after the market opens.

And Synalon, I did notice the error in the formula. I have uploaded a new spread sheet. Also, bear in mind that you can easily copy the formulae for new pairs - like the 2 decimal and 4 decimal point pairs.

25__MOVE_1.xls

Kind regards,
Stuart