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CP6 and several others.Please stay with the original settings ,as they are ,do not change to 180/170 periods just because the inmediate past tells you they are better..KEEP AT 90 PERIODS,MY SETTINGS HAVE A REASON WHY,AND THE PURPOSE OF THE DRILL IS TO USE MY SETTINGS FIRST,You will have ample time to express your creativity in a few weeks.
Sorry to seem so strict,BUT IF PEOPLE KEEP CHANGING THE SETTINGS AND POSTING THEM,THEY WILL CREATE A LOT OF CONFUSION,AND THUS,INSTEAD OF WASTING MY TIME I WILL STOP POSTING IN THIS THREAD.
You can open an alternative "simba clone" or whatever if you want-and prepare to invest a considerable amount of your time,but do not change the settings IN THIS THREAD,nor post alternative INDICATORS,ETC.
Thanks,
SIMBA
thanks simba...i will stay with all the original settings...im sorry, thats really my fault..i shouldnt do that.
HI ALL,
IT LOOKS LIKE THE S1 CAN HOLD,AND LOW VOLATILITY DAYS USUALLY ARE RANGE TRADING AND CATCHING OF STOPS...but the Future is unknown and
anything can happen
IN ANY CASE,EVEN IF GBPUSD REBOUNDS,THIS IS NOT OUR TRADE,OUR TRADE IS TO WAIT FOR %R(90 periods,please)-5 penetration,AS LONG AS THE MTF tells us that the trend is still short..and JUST DO IT...see attached pic
HI ALL,
IT LOOKS LIKE THE S1 CAN HOLD,AND LOW VOLATILITY DAYS USUALLY ARE RANGE TRADING AND CATCHING OF STOPS...but the Future is unknown and
anything can happen
IN ANY CASE,EVEN IF GBPUSD REBOUNDS,THIS IS NOT OUR TRADE,OUR TRADE IS TO WAIT FOR %R(90 periods,please)-5 penetration,AS LONG AS THE MTF tells us that the trend is still short..and JUST DO IT...see attached pic
SEE YOU AGAIN IN A FEW HOURS,
Regards,
SIMBA
Should one exit as soon as the %R is breached, in this case fall below the -5% line?
hi trader79...i think the rules is to trade at m5 timeframe...stay with the rules as simba suggest...this will make this thread easier to understand & people didnt confuse by changing this & that...i also do it before by changing the williams value but thats my fault...im sorry...stay with the rules...cheers
Try this template ... I've included all the indicators that I think are being used by Simba. He is resting right now. Hopefully, after he wakes up, he can kindly check this template to confirm whether it is correct or not.
Cheers .....
K3iroll,
Thanks a lot for your help and your template, hope to see your forward test result soon.
I hope the lion won't get sick coz of lack of sleep
In reference to "The Most Important Thing To Do After Closing A Trade," when do you determine to exit the trade? If you look at GBPUSD now, th etrade would have been profitable.
Hi,
The BASIC:STRICT RULES
Advanced:More flexibility.This sometimes MEANS that JUST USING the basic would have done MUCH BETTER.Other times the advanced nuances will considerably increase the profit.
PERSONAL:I have a personal RULE(Like not trading,usually,on Fridays), that AFTER BEING FOR HOURS IN A LOSING TRADE,THEN STAYING IN A PROFIT FOR A SHORT TIME(from10:17 to 10:51 CET) ,IF THE PROFIT THEN STARTS BECOMING A LOSS AGAIN ,I CLOSE THE TRADE INMEDIATELY,either at a small profit or at a small loss(usually).This rule has worked,for me ,in the long term..BUT THIS DOES NOT HAVE TO AFFECT YOUR TRADING OF EITHER BASIC OF ADVANCED,IT AFFECTS MY TRADING,AS YOUR PERSONAl RULES WILL AFFECT YOURS..I only ask people that temporarily stop their personal rules and beliefs,just to learn a basic drill and its nuances,but as they get experience,they will develop their personal rules,that if true and tested ,will do them more good than bad.
This has nothing to do with the Simba basic,I am just trying,first,to convey the necessity of practicing and drilling the Basic,second that trading has a lot of nuances,third that adding bells&whistles to the BASIC does not necessarily increase its profitability,fourth(hopefully ) that sometimes adding bells &whistles adds profits...
BASICALLY I AM COMUNICATING TO YOU IN A 2 FREQUENCY MODE:
1-THE SYSTEM,Specially the BASIC must be strictly followed to be learnt and internalized. MY AIM IS :Let them internalize that trading can be more confortable than it has ben until now.Let them acquire the basic core of competencies that will increase their survival rate in Live trading.
2-MY PERSONAL TRADES AND THOUGHTS ON THE MARKET:MY AIM IS..Just to let inexperienced traders see/grasp How do one professional trader thinks when he plans,executes and exits a trade..in all his greatness(occasionally) and misery(often)..Trading is just much more than buy blue sell red.
OF COURSE I DO NOT EXPECT ANYBODY TO TRADE AS I DO..
I JUST WANT THEM TO GRASP BY VICARIOUS EXPERIENCE SOME ADDITIONAL NUANCES BESIDES THE SYSTEM THAT FORM PART OF ACTUAL LIVE TRADING...and if they want to adopt some of my habits(Analyze the just closed trade and internalize what could you have done better..,check channels,check for potential stop location areas,etc)fantastic,and if they want not,fantastic too..as long as they drill the basics.
Due to your experience,you will understand that I am not going to modify my actual trading style to teach a lesson to beginners(TOO expensive for me)..I am going to distill the basics of my actual trading system,and make the beginners trade it(VERY REWARDING FOR THEM,IF THEY HAVE THE DISCIPLINE)..from simple to complex,because,as long as the core of their trading is the basic or a similar strategy(buy dips in an uptrend,etc) they will be relatively safe.
MOST IMPORTANT: WHAT TO DO WHEN A TRADE HAS JUST BEEN CLOSED..ANALYZE YOUR TRADE.
The market is not moving,so,I could stay a little longer ,but now I have to leave,will check with everybody again tonight.
hi trader79...i think the rules is to trade at m5 timeframe...stay with the rules as simba suggest...this will make this thread easier to understand & people didnt confuse by changing this & that...i also do it before by changing the williams value but thats my fault...im sorry...stay with the rules...cheers
FIRST I THANK YOU FOR YOUR KIND DEDICATION TO THIS THREAD
SECOND I UNDERSTAND THE NATURAL TENDENCY OF EVERYBODY TO OPTIMIZE
THIRD,IF YOU KEEP OPTIMIZING(IN THIS THREAD..Iknow you are going to play withe the timeframe,the indicators,the SATL,IT IS NATURAL,BUT DO IT ON YOUR OWN),do not post different settings,timeframes,etc,IN THIS THREAD
FOURTH,..AND BELIEVE ME..I have been there,I have played with the system,changing the TF(1m to week) the oscillator(rsi,stlm2,rbci2,schaff digital,stoch,cybercycle,fisherized variation of the previously mentioned oscillators and their uncle)and its length,the digital filter or ma to use as trend indicator(JMA,SATL,DECEMA,NONLAGMA,Chandelierstops as trend filter-they work fairly well on 1H TF,BUT SATL4H IS BETTER FILTER..even FATL ON DAY FRAME TO APPLY IN 5M TF) and its length(half a dominant cycle..but what timeframe do I use to measure the cycle length 1H,4H,1D,1W?,the currency pair to which to apply it..how do I know the dominant cycle(CLUEIGITAL FILTER GENERATOR posted by NEWDIGITAL)...AND THIS IS YEARS OF EXPERIENCE AND THOUSAND OF HOURS DISTILLED ..TO HELP YOU avoid wasting your time..I am sure that the system can and will be improved..and once you are competent with its settings you will be able to do so..
You can not imagine the workload that supposes create and keeping alive a thread..IF you keep posting variations,you make it more confusing for everybody else..Wasting their and my time..and the moment I feel I am wasting my time..I will employ it more productively.
Go ahead ,innovate..but do not post the innovations in this thread(For a few weeks),create an alternative thread if you want to do it..or wait for a few weks for posting the excellent innovations you will have devised,BUT NOT NOW,..please.
Hi Simba,
In few posts you mentioned that we could trade off of 1M chart.
Ex. Post #46. That is the reason for my post with 1Min chart, that is all no other intentions(innovations).
I am going to trade on 5min chart.
Thanks
Quote:
Originally Posted by SIMBA
Hi everybody,
I have read several different posts with practically the same requests,so,,I will try to reply to all within this post
1-Download the template -post 32-and install it to MT4>>>templates
2-Download and install the indicators included in post 32 AND 46 of this threadin MT4>>experts>>indicators.
3-Please do not modify the settings
4 RULES FOR BASIC:
1-ENTRY:Buy BELOW -95%R IF TREND UP AND BLUE
Sell ABOVE -5%R IF TREND DOWN AND RED
2-EXITSYOU ARE NOT GOING TO LIKE IT)
STOP:NO STOPS..We enter based on indicators,not on price so,we exit only
when the trend indicator changes its colour and direction-complete 4h bar,until the 4h close,even if during the 5m tf it changes colours often-it does not happen very often but today has all the numbers(do not worry,in the advanced mode we will use a variation of the chandelier stops,also on MTF,that will limit our risk and keep us in the trade)
TAKE PROFIT:For the moment,30 pips..do not worry..will change.
Now,you must be astonished by my exit settings,remember,these are the basics,and I want you to PAPERTRADE THIS SETTINGS ON 5M TF,today Friday,news(CPI,TIC,CAPACITY UTILIZATION..)INCLUDED.AND,VERY PROBABLY,I am going to ask you to papertrade these settings ON 1M TF during next week,then,I want you to constantly post your bad and good(paper)trades,the defects you see and..more important,if you are(paper)profitable..creative discussion ,and more advanced indicators will follow-that hopefully will take care of the problems-will follow.
Now,I just checked the market,and it seems that the trend is still up,but it looks like topping..we will probably get either no signal or an entry(buy) signal ,if we get any,in the
1.9550/1.9600 area,(paper)take it,it will probably be a bad signal-not sure,if I were I will start shorting like crazy,but the trend is still up,.But the risk,as defined by the advanced is too high,no problem either you will experience what I want you to experience,if it happens,a change of trend..the worst possible settings for this system.or you will start making paper money and internalizing the system.
Check the attachments and please remember the rules and EXCLUSIVELY PAPERTRADE THIS SYSTEM..my target is having you trading live ,with confidence,the advanced settings in a few weeks..and to do so I want you to practice(simulated) from the basics up,believe me ,YOU NEED IT TO INTERNALIZE the system,its faults,and its advantages.
Set the alarms for WILLIAMS%R at-95 and -5,so that you can trade your ususal system while having this in the background,and,if the alarms sound,JUST FOLLOW THE RULES(papertrade my friends).
) that sometimes adding bells &whistles adds profits...
IGITAL FILTER GENERATOR posted by NEWDIGITAL)...AND THIS IS YEARS OF EXPERIENCE AND THOUSAND OF HOURS DISTILLED ..TO HELP YOU avoid wasting your time..I am sure that the system can and will be improved..and once you are competent with its settings you will be able to do so..
YOU ARE NOT GOING TO LIKE IT)
Linear Mode
