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 5 Min TrendPipper - with NonLagMA, EMA and Pivots

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mary



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PostSubject: 5 Min TrendPipper - with NonLagMA, EMA and Pivots   Sat May 28, 2011 1:51 pm

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5 Min TrendPipper - with NonLagMA, EMA and Pivots

I like this system because:

1. Keeps me out until trend is starting
2. Gets me in early in a new trend
3. Keeps me in while trend develops
4. Gives colour coded entry signals
5. Specific exit point
6. Filters out bad signals
7. SL is small (10-15 pips)
8. TP anywhere from 10-50 pips per trade.
9. Few losing trades (if stick to rules), yet actively trading most of session.
10. Small Time frame, 5 mins

Visually back testing it produces 40- 100 pips per day (Late Asian and
London Session) on GBPUSD, also trying it on EURUSD but so far prefer
GU.

Today's trading on GBPUSD has produced around 88 pips (If taken all entries at correct time and stuck to the exit rules.

Please note it is NonLagMA not actually Hull indicators - If anyone knows the difference between the NonLag and Hull please post. I thought they were the same - apologies.


Chart Indicators and Settings:

5 Minute Chart

20 Exponential Moving average - set to close

Three NonLagMA indicators in separate window, set to 15, 30 and 50

set Fixed Min to 1 and Fixed Max to 2 to straighten indicator

(note NonLag indicator now does not have yellow as it was confusing people)

Pivots, Today's Open, Yesterday's High and Low
(when I say Pivots in future I mean all pivots, mid pivots, Yest highs, lows, open etc)

I use 2 pivot indicators one has yesterday's high/low, today's open etc,
and the Autopivot as it shows previous days Pivot lines but not highs
or lows.

Candle Timer, Current Price (optional)

RULES

Trading times: late Asian and London session.

SIGNAL (tells us direction bias)

1. NonLags all same colour (Red Short, Green Long)

Risky to enter on the signal, price has often moved away from 20 EMA and we get stopped out on on the retrace.

ENTRY

2. Wait for price to return to EMA and close in direction of trade below EMA for Short and above EMA for Long

I prefer correct colour candle for the direction also also.

If we wait for the reverse to EMA, we can have smaller stop loss, higher probability, and less false entries.

3. Check NonLag's still right colour for the direction of the trade.

If they are not this is indication price trend may not be following
through on signal. Sometimes just waiting for 1 or 2 candles we get
confirmation.

4. Try not to enter if price too close to a Pivot point

eg if we want to go long and price is 4 pips under daily pivot not a good entry point.

EXITS

1. PIVOT POINT - take profit at the pivot point you are trading towards.

Price gets magnetised to these points,

(these can be Daily PP, R1,2,3, S1,2,3, Mid points, Open, yesterdays High, or Low) ALL these
points tend to be either stop and reverse, stop and consolidate, or
slow, reverse, or continue). Either way can be good exit point as price
is often indecisive at these points.

If candles are strongly going towards the pivot point, or if NonLag's
all stay right colour consistently, consider holding to see if price
goes to next pivot point especially if its a mid pivot point.

2. SIGNAL OTHER WAY (3 NonLags opposite colour to trade)

Consider exiting also if 2 of the 3 NonLag's are wrong color.

Using this exit usually gets us out of a bad trade for either a couple of pips, break even or a few pips loss.

Rarely should we watch it go to SL as there will usually have been an
indication by the NonLag's that price was reversing. It is better to get
out with a few pips loss and perhaps re-enter later.


STOP LOSS

Approx 10 - 15 pips, use your own judgement some pairs may need 15
others may need only 10. If we get the entry right, price often moves
quickly in our direction so stop loss not an issue. But if you try to
trade in low volatility or ranging times you may find stops being tested
more often.

If we wait for the EMA retrace to enter, stops are hardly ever looked
at, exits will then tend to be for a few pips or break even at worst if
the trade doesn't follow through.

TAKE PROFIT

2 or 3 pips from the pivot you are trading towards.

If price misses by 5 pips or more it usually comes back for another go.

Alternate methods, take 50% at pivot, move to break even and let rest ride to next pivot.

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mary



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PostSubject: Re: 5 Min TrendPipper - with NonLagMA, EMA and Pivots   Sat May 28, 2011 1:53 pm

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SIGNAL
1. NonLags (HMA's) all same colour
(Red Short, Green Long)

Risky to enter here, need larger stop loss and trend may reverse and continue in other direction.

ENTRY
2. Wait for price to return to EMA and close in direction of trade below EMA for Short and above EMA for Long


If we wait for reverse to EMA, can have smaller stop loss, and higher probability, less false entries.

3. Check HMA's still right colour

If they are not this is indication price trend may not be following through.


EXITS

1. Price touches a Pivot point

Price gets magnetised to these points,

(these can be Daily PP, R1,2,3, S1,2,3, Mid points, Open, yesterdays High, or Close) ALL these
points tend to be either stop and reverse, stop and consolidate, or
slow, reverse, then continue) Either way good exit point.

If candles are strongly going down or up to the pivot point, or if HMA's
all stay right colour consider holding to see if price goes to next
pivot point especially if its a mid pivot point.

Notice even the trade I mentioned earlier where i missed the 20 pips and
exited for 5, it did go on to the R1 pivot point (shown on chart for
short entry)

2. SIGNAL OTHER WAY consider exiting if 2 of the 3 HMA's turns
wrong color, but wait for candle close as the colour changes during the
candle as it moves.


STOP LOSS
I start with 15, and when 7-10 pips in profit move SL to 10 pips.

Tend to use 15 pips on GBPUSD and 10-12 pips on EURO. If we wait for the
EMA retrace stops are hardly ever looked at, exits will then tend to be
for a few pips or break even at worst if the trade doesn't follow
through.

TAKE PROFIT - 2-3 pips away from the pivot you are trading
towards, but watch in case you miss by 1 pip. If it misses by 5 pips or
more it usually comes back for another go.

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PostSubject: Re: 5 Min TrendPipper - with NonLagMA, EMA and Pivots   Sat May 28, 2011 1:53 pm

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Stop losses and take profits as always
would be personal preference and personal trading styles. I am only
stating what I am using, as i said this may change as we forward test
it. And it may change for different currencies.

I developed this system specifically for its small stop loss, and higher probability of success and not hitting stops often.

Just pick any day, late Asian-London session, the EMA entry after the
signal nearly always results in trade going in the right direction, and
not going towards the stop much at all. That's the beauty of the wait
for EMA.

Just while I was typing this there was a trade on the pound, immediately
after entering price continued in the right direction, not even 1 pip
towards my stop.

Now to decide whether to take profit at Open or wait for R1, it looked
like it may form a pin bar so I took profit at Open for 20 pips.

Stop Loss size may not make much difference if the system proves to be reliable.

But looking at the trade I just did, if price had reversed and went to a
stop loss of 23 pips (being just above the recent high) it most likely
would have signaled a new entry long or the 2 HMA exit, so would have
exited before that anyway.

If price moved very quickly against me as it does sometimes, I still
would prefer a smaller stop loss, this i also why I move the sl to 10
pips once in profit.

So I am still happy with 15 pips at present on the pound.











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PostSubject: Re: 5 Min TrendPipper - with NonLagMA, EMA and Pivots   Today at 11:32 am

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