DislikedI think the reason most are failing on this is they do not know when to enter or recognize a proper engulfing tradesIgnored
This system is not working, sorry.
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DislikedI think the reason most are failing on this is they do not know when to enter or recognize a proper engulfing tradesIgnored
DislikedReview 28 pairs at a glance. Click on the pair to change chart to the desired pair. use the "Post val" parameter to get pair names like EURUSDv, "v" being the character for the Post_val" parameter. {file} {image} {file} {file}Ignored
Disliked{quote} Donīt think so much, because I know how engulfing bars look and I have an indicator which highlights them. Still, almost all trades are losses. See my trades from today, strictly by the rules, but all of them hit SL: {image} {image} {image} {image} {image} {image} {image} {image} This system is not working, sorry.Ignored
Disliked{quote} -eurgbp was on support, dont sell into support -cadchf, same thing, at bottom of range on support. -eursgd, on support -usdczk, looked like a decent setup but is inside a wedge pattern on 4hr, should wait for this to break. -eurhkd, on support -eurusd, looks decent, i also traded it and got stopped out, thats just trading not going to win 100% -sekjpy, is choppy with no direction, should leave it alone. -nokjpy, on support. should try trading the majors and some minors, stretching yourself to thin across all the currency pairs just makes...Ignored
Disliked{quote} Donīt think so much, because I know how engulfing bars look and I have an indicator which highlights them. Still, almost all trades are losses. See my trades from today, strictly by the rules, but all of them hit SL: {image} {image} {image} {image} {image} {image} {image} {image} This system is not working, sorry.Ignored
Disliked{quote} -eurgbp was on support, dont sell into support -cadchf, same thing, at bottom of range on support. -eursgd, on support -usdczk, looked like a decent setup but is inside a wedge pattern on 4hr, should wait for this to break. -eurhkd, on support -eurusd, looks decent, i also traded it and got stopped out, thats just trading not going to win 100% -sekjpy, is choppy with no direction, should leave it alone. -nokjpy, on support. should try trading the majors and some minors, stretching yourself to thin across all the currency pairs just makes...Ignored
Disliked{quote} Donīt think so much, because I know how engulfing bars look and I have an indicator which highlights them. Still, almost all trades are losses. See my trades from today, strictly by the rules, but all of them hit SL: {image} {image} {image} {image} {image} {image} {image} {image} This system is not working, sorry.Ignored
Disliked{quote} Donīt think so much, because I know how engulfing bars look and I have an indicator which highlights them. Still, almost all trades are losses. See my trades from today, strictly by the rules, but all of them hit SL: {image} {image} {image} {image} {image} {image} {image} {image} This system is not working, sorry.Ignored
DislikedYes, I get you guys, I am making a living from (automated) trading since 2009, no worries :-) All I am saying is that this system is NOT working as per the rules in post #1, it is a net loser. ONLY if you interpret the market (and humans are bad at that) it works a bit better. But still, this strategy is doomed to fail (backtested it on data since 1987, 28 pairs already (H4 and D1)). Sorry to have no better news.Ignored
DislikedYes, I get you guys, I am making a living from (automated) trading since 2009, no worries :-) All I am saying is that this system is NOT working as per the rules in post #1, it is a net loser. ONLY if you interpret the market (and humans are bad at that) it works a bit better. But still, this strategy is doomed to fail (backtested it on data since 1987, 28 pairs already (H4 and D1)). Sorry to have no better news.Ignored
Disliked{quote} I am well aware about that (been trading for 15 years), but I am talking about the PLAIN original system and itīs rules, which are: - engulfing bar & price below 30 EMA: sell - engulfing bar & price above 30 EMA: buy Nothing within those rules says to check support & resistance, other indicators, or whatever. What I am saying is that this system is NOT working as described and ONLY if you go and interpret other things into the market, which means you can basically use any other system as well, as it has no edge without further interpretations...Ignored
Disliked{quote} Show me the other rules of the system creator then. Her post is here https://www.forexfactory.com/showthread.php?t=824888 and it says: 1. Add EMA 30 2. Follow the trend 3. Look for engulf pattern. The high/low of the current bar need to cover the high/low of previous bar. 4. Enter at the next open bar. 5. Long when PA above EMA 30, and short when PA below EMa 30 6. Use Fibo to determine SL and TP So where are more rules from the ORIGINAL creator of this system that I have not followed?Ignored
Disliked... And so this system is not a system, sorry. As soon as second guessing is required in addition to the system rules to make it successful, it is a plain fail for me, as it misses the point of a system that can be traded "as is". It simply is not a winning system in the long run - all the backtests of the EA for that system show that. ONLY if you are an experienced trader you can POSSIBLY make money with it, but again, that is not a real "mechanical" system then.Ignored
Disliked... And so this system is not a system, sorry. As soon as second guessing is required in addition to the system rules to make it successful, it is a plain fail for me, as it misses the point of a system that can be traded "as is". It simply is not a winning system in the long run - all the backtests of the EA for that system show that. ONLY if you are an experienced trader you can POSSIBLY make money with it, but again, that is not a real "mechanical" system then.Ignored
Disliked{quote} Show me the other rules of the system creator then. Her post is here https://www.forexfactory.com/showthread.php?t=824888 and it says: 1. Add EMA 30 2. Follow the trend 3. Look for engulf pattern. The high/low of the current bar need to cover the high/low of previous bar. 4. Enter at the next open bar. 5. Long when PA above EMA 30, and short when PA below EMa 30 6. Use Fibo to determine SL and TP So where are more rules from the ORIGINAL creator of this system that I have not followed?Ignored