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Thread: Demark Lines EA

  1. #11

    Default A poster's experience using MG's strategy

    Hie Mystic!

    Thanks for the indicators posted. I have traded using demark indicator only and my account grew 16% starting from 27 November trades. open 3 lots per pair. Trading 9 pairs now. take profit set to 3 different targets set by the demark indicator. my SL for short is the previous Highest High and long is the previous Lowest Low.

    AUDUSD 80 pips
    NZDUSD 262 pips
    USDJPY 13 pips
    USDCHF 287 pips
    EURUSD -73 pips
    GBPUSD 498 pips
    GBPJPY 135 pips
    GBPCHF 126 pips
    EURJPY 541 pips

    Not bragging about results here. just to inform that simply by trading the demark indicator only its possible to make this kinda pips. Couldnt attach my HTM file here...wonder wats wrong with it....

    ---

    How i enter a trade. I will open 3 positions each per pair with 3 different profit targets.

    For Buy.

    If the Hourly bar closes above the thick red trendline, I will enter a buy position on the next open bar. My SL will be the previous Lowest Low. When i open trades, i will immediately look at the trade targets. There is 4 targets set by the demark ind but i only choose 3 out of the 4; (u will notice that 2 of the targets nearly have similar values, u choose either one)

    When my first target is reached, what i do is i move my 2nd position SL to +15 pips and my 3rd position to Breakeven and i let the trades run. I might move both SL to +50 when i see more than 100+ pips floating for GBPJPY/GBPCHF per position.

    For Sell, the rule is the same except that i add the spread to the previous highest high for my SL.

    So rite now i only watch the market on hourly basis...

    actually i never really look at my laguerre when i enter a position...just the break of the trendline to enter... i never use keltner also...

    i only open trades when the trendlines are broken. sometimes the target profit set by the demark is quite near to the open position n market moves quite fast..maybe thats why some trades dont last that long...

    I will wait for the targets to be hit...sometimes if i feel the targets cant be reached, i will move my SL to book some profits in case market goes against me..

    I hope this info will help.
    Attached Files Attached Files

  2. #12

    Default Another poster's summary of Mystic Genie's strategy

    after reading mystic's explanation of his discretionary trading method it seems to me that mystic's well conceived and well considered method is this:

    - primarily use james16 pa techniques and imransait's lageurre trend approach on higher time frames, then step down to the four-hour and again apply imransait's laguerre and james16 pa, while also watching for good forex candle formations (those that do not use gaps), and all along the way watch out for trend lines.

    - use the one-hour time frame to sharpen the entry because you really want the market entry to start going in your direction from the beginning. if it starts going against you, use hedging until the timing lines up, and do not use stops. for exits use fibs on higher time frames and also watch the laguerre. sharpen the exit with smaller time frames.

    - pay attention to the session timing and be aware of the non-commercial cot to further stack the trade.

    this entry is now loaded with everyone hopefully heading in the right direction, the entry is timed to not so easily get stopped out, the exit looks like it will happen after a good long run, so leverage up big and hope for the best.

    good solid trading technique, except for the money management, but maybe the wild man leverage is ok since trades with everything lined up do not happen every week - why not maximize your outcome while risking a fixed amount?

    sounds great to me. i see a smart patient entry and exit with managed quantified risk executed with an intuition of the market direction combined with some measure of luck. this is not some wild trade that can never be repeated.

    the best information on the laguerre is in imransait's thread (smaller timeframes) here:

    Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait

    and james16 price action (bigger timeframes) here:

    james16 Chart Thread

    great trade mystic!!

    <<>>

    Try these Laguerre settings for visualizing tighter turns - .65 and .70

  3. #13

    Default

    Well gang, this is what I've gathered so far reading 27 out 60 pages of the thread...Hopefully, this will be a good starting point for possibly trying to make this system/method into an EA.

    --Nicky

  4. #14
    Administrator funyoo's Avatar
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    Default

    Quote Originally Posted by bnbb2004 View Post
    Well gang, this is what I've gathered so far reading 27 out 60 pages of the thread...Hopefully, this will be a good starting point for possibly trying to make this system/method into an EA.

    --Nicky
    The problem is that everyone has his own way to interpret the system. There is a lot of subjective part.

    You should better test it manually by yourself and then by your experience according to what works, say how we should define the system.

    I remember now about the COT report used by Mystic to filter the trades. We have to import extern data, I have not the knowledge to do that. We should find another way to filter the signals. We can still manually set the EA on "only" buy/sell.

  5. #15
    Administrator funyoo's Avatar
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    A new test with this EA.

    It is currently generating good results.

    12 pairs H4.

    Total net profit : 30.49%
    RDD : 9.51%

    AU 440
    EAU 299
    ECH -16
    EG 524
    EY -185
    EU 113
    GCH -306
    GY -242
    GU 652
    UCA 230
    UCH 167
    UY 1444

    Note : it is one of the first code that I have shared on the web.
    Attached Images Attached Images Demark Lines EA-detailedstatement-demarklinesea-12-pairs-h4-fixed-lot-0-1-gif 
    Attached Files Attached Files

  6. #16
    Administrator funyoo's Avatar
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    12 pairs H4. fixed lot 0,01.

    Total net profit : -4.83%
    RDD : 5.68%

    ACA 2
    ACH -40
    AY 3
    AN -36
    AU -3
    CACH -62
    CAY 30
    CHY -39
    EAU -20
    ECA -62
    ECH -77
    EG -125
    EY 98
    EN -55
    EU 58
    GAU -26
    GCA -72
    GCH -18
    GY 110
    GN -50
    GU 29
    NCA -42
    NCH -38
    NY -23
    NU -15
    UCA -75
    UCH -19
    UY 97
    Attached Images Attached Images Demark Lines EA-detailedstatement-demarklinesea-all-pairs-h4-fixed-lot-0-01-gif 
    Attached Files Attached Files

  7. #17

    Default

    Hi Funyoo!

    Are the set files the same for post #16 and #17? Are they the same tests?

  8. #18
    Administrator funyoo's Avatar
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    Quote Originally Posted by bnbb2004 View Post
    Hi Funyoo!

    Are the set files the same for post #16 and #17? Are they the same tests?
    Hi bnbb2004,

    That's correct.

  9. #19

    Default

    I keep getting the following error msg and I have put the indicator in the right place. :-|

    2009.03.09 11:50:39 Cannot open file 'C:\Program Files\Interbank FX Trader 4-9\experts\indicators\DeMark lines.ex4' on the USDCHFm,H4

  10. #20

    Default

    Rename the indicator in its folder...You can go to the MQL site where this EA is posted and get my instructions there...

    ES


    Quote Originally Posted by bnbb2004 View Post
    I keep getting the following error msg and I have put the indicator in the right place. :-|

    2009.03.09 11:50:39 Cannot open file 'C:\Program Files\Interbank FX Trader 4-9\experts\indicators\DeMark lines.ex4' on the USDCHFm,H4

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