Gambling system? BO System? Here is "The Italian jOB"
Last updated on May 19, 2015
Hi everyone, I'm Michael, I'm writing from Italy and I'm sorry for my poor English. I want to share my personal strategy. I did a lot of research and by taking the simple approach (because simple is better), I created a very solid strategy. Of course, I can't guarantee "evergreen" days, but with my strategy, I can get an ITM range between 65% and 75%. Rarely, but it does happen, it touches 50% of ITM.
I'd like to know what your thoughts are on this and how to filter out false signals.
I named this strategy " The Italian Job ".
IMPORTANT NOTE: This is the original strategy and the first one we start with. Then you will find the last updates at the end of the post.
Hi everyone, I'm Michael, I'm writing from Italy and I'm sorry for my poor English. I want to share my personal strategy. I did a lot of research and by taking the simple approach (because simple is better), I created a very solid strategy. Of course, I can't guarantee "evergreen" days, but with my strategy, I can get an ITM range between 65% and 75%. Rarely, but it does happen, it touches 50% of ITM.
I'd like to know what your thoughts are on this and how to filter out false signals.
I named this strategy " The Italian Job ".
IMPORTANT NOTE: This is the original strategy and the first one we start with. Then you will find the last updates at the end of the post.
What do we need?
I use MetaTrader 4 for trading.
index:
We set the classic Bollinger Bands on our classic candlestick chart.
Then we plug in our BBRSI indicator. Here we will cover the stochastic indicator . This way we will have two indicators in the same window.
For BBRSI, we retain 2 levels: 30 (oversold) and 70 (overbought). We also maintain the RSI at 14 and the Bollinger Bands at 20-2.
Regarding the stochastics, we modified the stock levels from 20 to 10 (oversold) and from 80 to 90 (overbought).
You can download all indicators and templates from here:
Entry rules:
1 minute TF for 5 minute trades. (But you can also try different TFs, the less signal, the better)
entry:
_MT4 Stoch must be above the 90 level.
_RSI must be above the 70 level and above the Bollinger Bands.
_If the candle on the chart is outside the Bollinger Bands at the close and all other conditions are met, enter immediately.
Call entry:
_Stoch must be in Level 10.
_RSI must be below the 30 level and like Bollinger Bands.
If the candle on our chart matches the Bollinger Bands at the close and all other conditions are met, enter the trade immediately.
Now some photos:
Here are my results from the past week:
EUR/USD London and New York session
Monday, 12 ITM - 2 OTM 85.71%
Tuesday 8 ITM - 3 OTM - 1 TIE 66.67%
Wednesday 12 ITM - 1 OTM 92.3%
Thursday, 10 ITM - 5 OTM - 1 TIE 62.5%
Friday 10 ITM - 5 OTM 66.67%
The results were similar every week.
It will be even further if we stay away from the big news and focus on the New York opening.
----->Check now for last updates<-----
Thanks to Swingman we have a simple indicator, a very good matrix, we just have to wait for all signals. The best results were obtained with a TF of 5 minutes and an expiration time of 10 minutes. The maximum continuous loss recorded from the system using this setup is 4 (5minTF-10minEXP), so you may consider applying Marigale MM . This is the last version .
There are also some good indicators you can use to filter out some bad signals, which some people have posted here... somewhere...
swingman contribution
boItalianJob Stochastic_v1.ex4
Wulong contributes non-lag stochastic nrp_mtf + alert nmc.mq4
Again, sorry for my English... I'd like to announce that I'm working on something better and very powerful.
I'd love to contribute to those who want to create automation software.
Please don't hesitate to speak your mind and hopefully help someone else...but please try to demo!
Special thanks to SwingMan
good trade
mike
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