Trend Runner | Gold EA Download - MT4/MT5 Resources - MetaTrader 5 Resources
Hello everyone,
I've been a lurker on this forum for several years. After 5 years of trying, I decided to give back to the Forex community by sharing a trading method that finally worked for me. I call them trend runners. Before I get started, I'd like to first lay out some rules for this thread.
1 - I know this method is not perfect. No way is. If you have something to say about this, please provide constructive feedback. Support what you said.
2 - If you have any questions or want to ask anything, please attach the diagram and add comments. It just makes it easier to see what you're talking about.
3 – Please don’t ask me about Eas because I don’t believe them.
4 – If you don’t like the approach, leave. We are here to learn not to put each other down.
5 – Don’t be shy about asking questions about the method, but please don’t fill your post with simple questions that have been answered a million times around the web. If you don't know when your broker closes a candle, figure out how I can tell.
6- If you are new to Forex, learn the basics. I won't answer basic questions here.
7-I know that everyone has their own way of trading. I have no problem with you creating this system yourself, but before you start adding indicators, try it out as is.
Okay, now that we've got that out of the way, let's get started.
Trendsetter
Trading Type: Swing Trading
Goal: Capture mid-term swings in the overall trend direction.
Currency Pairs: Any and all Forex currency pairs, metals, oil, stocks and CFDs. I use AUD/USD, EUR/JPY, EUR/USD, GBP/JPY, GBP/USD, USD/CAD, USD/CHF and GOLD/USD (gold).
Time range: 4 hours and above recommended. I use 4 hours.
My agent: Oanda .
Indicators: 200 SMA (50 and -50 levels), Support and Resistance (Bari) and Supertrend. I will add an additional tool called "Daily Signal Bar". It's not an indicator. You wouldn't trade based on this. It is an MTF tool that shows you the overall strength of each TF in its pair. It also features daily opening prices, high and low points, and current spreads.
Money Management: Everyone has their own risk tolerance. Here I will explain my management. I start the new month the same way. I start with the current balance shown in the account. In addition to this, I also add the margin held by my broker for any current open trades. Finally, I add the value of any guaranteed profits on any open trades that have not yet been realized but have been protected by stops.
Please note that if your current trade goes against you, be sure to subtract the full 2% of your risk.
I will use this value until the end of the month regardless of how many wins or losses there are in the month. You may ask why? My risk is always 2% of my balance per trade. But this amount changes with each transaction. If I risk 2% and take a loss after winning, it will wipe out more than 2% of my original balance. If I then trade based on the post-loss balance and use 2%, and it's a profitable trade, the amount will be less than what I calculated based on the original monthly amount. Get it?
Now, since the goal of this method is to capture the mid-term trend, we need to give the trade a breather. I use a static stop loss of 100 pips on each trade of H4 TF. The beginning of any trade is the highest level of risk you will assume when trading. The goal of trading is to minimize losses and maximize gains.
Transaction management is important. What I do is, once my trade is profitable +30 pips, I move my stop loss to BE +3. I do this because it at least covers my interest and leaves me with a little profit if the trade goes against me. After that, for every 10 points I move, I add another point to the BE. If, when you check, the market has moved in your direction, but has moved back slightly, then for every 10 points it moves, you will still have gained 1 point in your favor. For example, if the market moved 100 points in your favor but is now around 60 points, your BE should be +10. This way, no matter what happens, you will receive 10% of the total movement. There are more explanations of the indicators below. Please read this.
I know the above is a bit much and can be a bit confusing. Here are 2 examples that may help:
Example 1:
Balance on June 1 = $9500. The broker currently holds $1,500 for margin trade 1 and $1,500 for trade 2. Trade 1 has 125 pips worth $2 each. Value $250. Trade 2 has 75 pips worth $2 each. Value $150.
Add it. 9500 + 1500 + 1500 + 250 + 150 = 12900. This amount of $12,900 will form the basis for all transactions executed during the month. So I calculated it as:
$12,900 X 0.02 = $258. Now, taking a fixed stop loss of 100 pips, I divide by 258 / 100 = $2.58. If you use MT4 to execute your trades, each trade will use 0.25 lots. Rounding down is always better than rounding up. If, like me, you execute on the Oanda FXTrade platform, you will use (approximately) 25,800 units.
Example 2:
Balance on June 1 = $9500. The broker currently holds $1,500 for margin trade 1 and $1,500 for trade 2. Trade 1 has 125 pips worth $2 each. Value $250. Trade 2 has -50 pips @ each pip is worth $2. Value - $100.
Add it. 9500 + 1500 + 1500 + 250 - 200 = 12900. This amount of $12,550 will be used as the basis for all transactions executed during the month. So I calculated it as:
$12,550 X 0.02 = $251. Now, taking a fixed stop loss of 100 pips, I divide by 251 / 100 = $2.51. If you use MT4 to execute your trades, each trade will use 0.25 lots. Rounding down is always better than rounding up. If you execute on the Oanda FXTrade platform like me, you will use (approximately) 25,100 units.
Indicators and their uses:
200 Simple Moving Average (levels 50 and -50) -
The 200 SMA is the most widely used and accepted moving average in all markets. It is especially useful in long-term trading. In this method, I use the 200 SMA to show the overall trend of the current TF. When prices are below that line, I only look for shorts. It would be helpful if the line was also trending down, but it's not necessary. If you enter a short trade because the price closes below, and I mean the price, not just the price spike, and the 200 SMA is either long or flat, then the risk of the trade failing is higher. This doesn't mean don't trade, it just means the probability of failure is high.
Super trendy-
This indicator was developed by Olivier Seban and later recoded by Jason Robinson. This indicator has the huge advantage of being suitable for all time frames in all markets. It is based on the average true range (ATR). Blue indicates a bullish trend and red indicates a bearish trend.
The Super Trend indicator moves above or below the price depending on the developing trend. The main advantage of Olivier Seban's repositioning based on the closing day is to filter out false signals that may appear during periods of trend slowdown or no trend. I use it as confirmation. If the overall trend is down, then I would only trade when the indicator is red and the price is below the 200 SMA.
Support and Resistance (Bari) -
This is a basic support and resistance indicator based on fractals. The indicator repaints until the price is actually confirmed a few candles later. This indicator is used as a future stop loss level/profit safety level.
If you use the included MT4 template, your completed chart should look like this:
In the next article I will explain how to trade using this method and add indicators and templates.
******************************************************************************************************************************
Please read
S&R levels are used for new stop loss/profit protection. However, sometimes they don't appear for very long, and I personally don't mind if the market just rebounds. However, if I make a huge profit on a trade, I can adjust my stop loss without waiting for the S&R to appear. Even if you don't see indi coming, you can see the next level of S&R. This is a money management decision. If you agree to wait for them, that's great, if not, tailor your deal to your wishes.
This thread was started for methods, not money management. I discuss my money management and let people understand what and how I control my trading. I have demonstrated this method to several colleagues. Some people like my MM method, some don't. One of them uses PSAR, I believe his settings are Step 0.02, Maximum 0.2. I actually like that one but just stick with mine because it works. He was happy with it and I was happy with mine. My friend uses automatic trailing stops. Still others move his stops to every S&R green and red. If it brakes and closes, he moves the brake.
Do you understand what I mean? You have to be disciplined, but not so strict that you lose money just because a line doesn't appear on the chart. Come up with a MM method that works for you. If you don't believe it, don't use mine. Make one that works for you, using some of the products my colleagues use. The bottom line is, we're here to make money, let's make money.
I'd like to read and see what you guys are doing, post some charts and let me know what you are trading and what MM methods you are using.
Another quick note on creating MM scenarios.
Please go live. Even if it's just a few cents. If you don't do this, if you can't handle how your MM uses real money versus simulation games, you will find yourself in a world of trouble.
Take care of yourself-
-ILZ
************************************************ ******************************************
Please read
Well, it seems people are confused. I thought I explained it well, but I guess not.
When to enter a checklist:
Price near/below 200 SMA?
Yes - go to next question
no-stop
Price close to/below super trend? Blue represents long and red represents short?
Yes - go to next question
no-stop
This seems to be the part that confuses most people who don't understand.
If there is established S&R risk in your trade, whether long or short, the closing price must differ by at least 30 points from the established S&R.
If there is established S&R risk in your trade, whether long or short, price must break and close that established S&R at any amount as long as it is within 30 pips.
Stop adjusting:
Once the price moves 30 pips in your favor, adjust your stop loss to +3 at any time during or after the initial entry candle.
For every 10 pips of total movement (not just the current price), movement +1.
My initial stop is 100 pips unless the S&R is established closer to 100 pips.
You can dock wherever you want.
Closing transaction:
If the price closes across the supertrend. It doesn't matter if ID SUPERTREND changes color.
If the price closes above the 200 SMA.
If price closes in the opposite S&R direction to the current trade.
That’s all the basics. All other tip questions are answered throughout the thread. If you're not going to take the time to read all the answers people and myself have generously posted, that's your responsibility.
But it really isn't that hard. The system is simple. Don't complicate things.
-ILZ
I've been a lurker on this forum for several years. After 5 years of trying, I decided to give back to the Forex community by sharing a trading method that finally worked for me. I call them trend runners. Before I get started, I'd like to first lay out some rules for this thread.
1 - I know this method is not perfect. No way is. If you have something to say about this, please provide constructive feedback. Support what you said.
2 - If you have any questions or want to ask anything, please attach the diagram and add comments. It just makes it easier to see what you're talking about.
3 – Please don’t ask me about Eas because I don’t believe them.
4 – If you don’t like the approach, leave. We are here to learn not to put each other down.
5 – Don’t be shy about asking questions about the method, but please don’t fill your post with simple questions that have been answered a million times around the web. If you don't know when your broker closes a candle, figure out how I can tell.
6- If you are new to Forex, learn the basics. I won't answer basic questions here.
7-I know that everyone has their own way of trading. I have no problem with you creating this system yourself, but before you start adding indicators, try it out as is.
Okay, now that we've got that out of the way, let's get started.
Trendsetter
Trading Type: Swing Trading
Goal: Capture mid-term swings in the overall trend direction.
Currency Pairs: Any and all Forex currency pairs, metals, oil, stocks and CFDs. I use AUD/USD, EUR/JPY, EUR/USD, GBP/JPY, GBP/USD, USD/CAD, USD/CHF and GOLD/USD (gold).
Time range: 4 hours and above recommended. I use 4 hours.
My agent: Oanda .
Indicators: 200 SMA (50 and -50 levels), Support and Resistance (Bari) and Supertrend. I will add an additional tool called "Daily Signal Bar". It's not an indicator. You wouldn't trade based on this. It is an MTF tool that shows you the overall strength of each TF in its pair. It also features daily opening prices, high and low points, and current spreads.
Money Management: Everyone has their own risk tolerance. Here I will explain my management. I start the new month the same way. I start with the current balance shown in the account. In addition to this, I also add the margin held by my broker for any current open trades. Finally, I add the value of any guaranteed profits on any open trades that have not yet been realized but have been protected by stops.
Please note that if your current trade goes against you, be sure to subtract the full 2% of your risk.
I will use this value until the end of the month regardless of how many wins or losses there are in the month. You may ask why? My risk is always 2% of my balance per trade. But this amount changes with each transaction. If I risk 2% and take a loss after winning, it will wipe out more than 2% of my original balance. If I then trade based on the post-loss balance and use 2%, and it's a profitable trade, the amount will be less than what I calculated based on the original monthly amount. Get it?
Now, since the goal of this method is to capture the mid-term trend, we need to give the trade a breather. I use a static stop loss of 100 pips on each trade of H4 TF. The beginning of any trade is the highest level of risk you will assume when trading. The goal of trading is to minimize losses and maximize gains.
Transaction management is important. What I do is, once my trade is profitable +30 pips, I move my stop loss to BE +3. I do this because it at least covers my interest and leaves me with a little profit if the trade goes against me. After that, for every 10 points I move, I add another point to the BE. If, when you check, the market has moved in your direction, but has moved back slightly, then for every 10 points it moves, you will still have gained 1 point in your favor. For example, if the market moved 100 points in your favor but is now around 60 points, your BE should be +10. This way, no matter what happens, you will receive 10% of the total movement. There are more explanations of the indicators below. Please read this.
I know the above is a bit much and can be a bit confusing. Here are 2 examples that may help:
Example 1:
Balance on June 1 = $9500. The broker currently holds $1,500 for margin trade 1 and $1,500 for trade 2. Trade 1 has 125 pips worth $2 each. Value $250. Trade 2 has 75 pips worth $2 each. Value $150.
Add it. 9500 + 1500 + 1500 + 250 + 150 = 12900. This amount of $12,900 will form the basis for all transactions executed during the month. So I calculated it as:
$12,900 X 0.02 = $258. Now, taking a fixed stop loss of 100 pips, I divide by 258 / 100 = $2.58. If you use MT4 to execute your trades, each trade will use 0.25 lots. Rounding down is always better than rounding up. If, like me, you execute on the Oanda FXTrade platform, you will use (approximately) 25,800 units.
Example 2:
Balance on June 1 = $9500. The broker currently holds $1,500 for margin trade 1 and $1,500 for trade 2. Trade 1 has 125 pips worth $2 each. Value $250. Trade 2 has -50 pips @ each pip is worth $2. Value - $100.
Add it. 9500 + 1500 + 1500 + 250 - 200 = 12900. This amount of $12,550 will be used as the basis for all transactions executed during the month. So I calculated it as:
$12,550 X 0.02 = $251. Now, taking a fixed stop loss of 100 pips, I divide by 251 / 100 = $2.51. If you use MT4 to execute your trades, each trade will use 0.25 lots. Rounding down is always better than rounding up. If you execute on the Oanda FXTrade platform like me, you will use (approximately) 25,100 units.
Indicators and their uses:
200 Simple Moving Average (levels 50 and -50) -
The 200 SMA is the most widely used and accepted moving average in all markets. It is especially useful in long-term trading. In this method, I use the 200 SMA to show the overall trend of the current TF. When prices are below that line, I only look for shorts. It would be helpful if the line was also trending down, but it's not necessary. If you enter a short trade because the price closes below, and I mean the price, not just the price spike, and the 200 SMA is either long or flat, then the risk of the trade failing is higher. This doesn't mean don't trade, it just means the probability of failure is high.
Super trendy-
This indicator was developed by Olivier Seban and later recoded by Jason Robinson. This indicator has the huge advantage of being suitable for all time frames in all markets. It is based on the average true range (ATR). Blue indicates a bullish trend and red indicates a bearish trend.
The Super Trend indicator moves above or below the price depending on the developing trend. The main advantage of Olivier Seban's repositioning based on the closing day is to filter out false signals that may appear during periods of trend slowdown or no trend. I use it as confirmation. If the overall trend is down, then I would only trade when the indicator is red and the price is below the 200 SMA.
Support and Resistance (Bari) -
This is a basic support and resistance indicator based on fractals. The indicator repaints until the price is actually confirmed a few candles later. This indicator is used as a future stop loss level/profit safety level.
If you use the included MT4 template, your completed chart should look like this:
In the next article I will explain how to trade using this method and add indicators and templates.
******************************************************************************************************************************
Please read
S&R levels are used for new stop loss/profit protection. However, sometimes they don't appear for very long, and I personally don't mind if the market just rebounds. However, if I make a huge profit on a trade, I can adjust my stop loss without waiting for the S&R to appear. Even if you don't see indi coming, you can see the next level of S&R. This is a money management decision. If you agree to wait for them, that's great, if not, tailor your deal to your wishes.
This thread was started for methods, not money management. I discuss my money management and let people understand what and how I control my trading. I have demonstrated this method to several colleagues. Some people like my MM method, some don't. One of them uses PSAR, I believe his settings are Step 0.02, Maximum 0.2. I actually like that one but just stick with mine because it works. He was happy with it and I was happy with mine. My friend uses automatic trailing stops. Still others move his stops to every S&R green and red. If it brakes and closes, he moves the brake.
Do you understand what I mean? You have to be disciplined, but not so strict that you lose money just because a line doesn't appear on the chart. Come up with a MM method that works for you. If you don't believe it, don't use mine. Make one that works for you, using some of the products my colleagues use. The bottom line is, we're here to make money, let's make money.
I'd like to read and see what you guys are doing, post some charts and let me know what you are trading and what MM methods you are using.
Another quick note on creating MM scenarios.
Please go live. Even if it's just a few cents. If you don't do this, if you can't handle how your MM uses real money versus simulation games, you will find yourself in a world of trouble.
Take care of yourself-
-ILZ
************************************************ ******************************************
Please read
Well, it seems people are confused. I thought I explained it well, but I guess not.
When to enter a checklist:
Price near/below 200 SMA?
Yes - go to next question
no-stop
Price close to/below super trend? Blue represents long and red represents short?
Yes - go to next question
no-stop
This seems to be the part that confuses most people who don't understand.
If there is established S&R risk in your trade, whether long or short, the closing price must differ by at least 30 points from the established S&R.
If there is established S&R risk in your trade, whether long or short, price must break and close that established S&R at any amount as long as it is within 30 pips.
Stop adjusting:
Once the price moves 30 pips in your favor, adjust your stop loss to +3 at any time during or after the initial entry candle.
For every 10 pips of total movement (not just the current price), movement +1.
My initial stop is 100 pips unless the S&R is established closer to 100 pips.
You can dock wherever you want.
Closing transaction:
If the price closes across the supertrend. It doesn't matter if ID SUPERTREND changes color.
If the price closes above the 200 SMA.
If price closes in the opposite S&R direction to the current trade.
That’s all the basics. All other tip questions are answered throughout the thread. If you're not going to take the time to read all the answers people and myself have generously posted, that's your responsibility.
But it really isn't that hard. The system is simple. Don't complicate things.
-ILZ
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