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The Super Simple System

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  #1  
Old 12-02-2009, 23:17
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Default The Super Simple System

This system is designed for new traders getting their feet wet into trading FX.

So, what is the Super Simple System (SSS)?

Well, let me tell you.

Open up any hourly chart on Metatrader. Say, Eur/Usd, on H1.

Then on the left hand side, you'll see a box called "Navigator". Click on the tab called "Indicators", and you'll see a list of different indicators. These indicators are used to help us make decisions.

So here, we want to choose, the "Awesome Oscillator" indicator. Click and drag that onto the actual chart. You'll see it come up immediately as a separate window at the bottom of your chart.

Then we want to place two "Moving Average" (MA) indicators. Moving averages are lines you'll see on the actual chart itself. So, click and drag that onto your Eur/Usd chart. You'll see a few parameters here. Click on reset (this makes everything back it's default settings). Then leave everything as it is, except change the "MA Method" to "Exponential". Click OK.

Then we want another Moving Average Indicator. So again, drag and drop it on to your chart, but this time, we want to change a few things more. Firstly change the "period" to 7. Then, change the MA method to "exponential". Finally, change the colour to something else, say yellow. (This will help us distinguish between the different MA lines).

This is what you should be seeing:




That's it. All your indicators are now set up. You're ready to begin trading!

Ok, so how do we know when to enter into a long (buy) or short (sell)?

Simple, you follow the system's rules. Following the rules of a system is imperative, it helps traders keep their discipline, and helps eliminate the two biggest emotional pitfalls in trading: greed and fear. Get too greedy and you'll lose any profits you might have made. Get too scared, and you might exit a trade for a loss, which could have ended up a profitable, had you stuck to the rules.


The SSS Rules

THE ENTRY:

1. Look for a cross of the MAs. For a buy, the yellow MA must cross above the red MA. For a sell, the yellow MA must cross past down the red MA.

2. Then, look for a green Awesome indicator for a buy. And a red Awesome indicator for a sell.

Only once both of the above conditions have been met, can we enter a trade. We are not allowed to enter if the candle is still being formed. We have to wait till the end of the hour, i.e. till the candlestick has fully closed.


THE EXIT:

Place a 30 pip Take Profit and a 30 pip Stop Loss. This means, if price moves in your favour by 30 pips, your trade will automatically end (with a profit). And likewise, if the price goes against you by 30 pips, your trade will automatically end (with a loss). If neither the TP nor the SL are hit, yet the Awesome has turned the opposite colour, then exit. Again, wait till the candle has fully closed.

____________________________________________


That's the rules. Feel free to test the system, and post questions, findings, results, experiences, life history, etc... on the forum.

I'll also be giving examples of trades entered/exited a little later on.

Ash
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  #2  
Old 19-02-2009, 12:25
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Thanks Ash, looks so simple, but you know what they say, KISS

(keep it simple stupid!)
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  #3  
Old 21-02-2009, 21:22
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Default

Will this work on the 5 or 15 minute or is that too noisy? What is the period of the first MA. Thanks

Last edited by Vetmxracer; 21-02-2009 at 21:27.
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  #4  
Old 23-02-2009, 07:51
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Default well done mate!

it works but u have got to be careful not to get burnt at lower time frames...just wait for it to get to the conditions stated on the H1 chart if not i would say "sorry to say i told you so" well done here



Quote:
Originally Posted by Vetmxracer View Post
Will this work on the 5 or 15 minute or is that too noisy? What is the period of the first MA. Thanks
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  #5  
Old 23-02-2009, 13:06
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This is something I will def, give a shot..
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  #6  
Old 23-02-2009, 13:41
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Looks a nice system....will try on paper for a while...
Thanks Ash..
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  #7  
Old 23-02-2009, 15:55
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Default My findings Ash pls give ur view on this...

well, i followed the pattern as you described and i found out something....i noticed that if i set my S.L for just 30pips, i ll loss my trades cos of the movement patterns of fx market so i decieded to use my initiative to set my SL at the point where the yellow line intercets the red line for both the buy and the sell trades.Thats the only modification to earn max profit.I trade one lot and so far, i made $600 using this method on 4different trades today....Thats ok by me!!! lol.
If you have got a smaller account or your afraid, stick to the 30pips s/l.i also set my T/P to 20-25pips so i dont get too greedy(Not good for my health...lol)Thanks once again if you can share more methods so we can have a variety, i would love that.Watch out for mine soonest!!God bless you lots
Emmanuel
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  #8  
Old 23-02-2009, 21:20
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Default gbpusd 1h 2009.02.23 2300h

Im testing this system...
Sell. gbpusd 1h 2009.02.23 2300h.
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The Super Simple System-gbpusd-1h-2009.02.23-2300h.gif  
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  #9  
Old 24-02-2009, 12:51
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Quote:
Originally Posted by Vetmxracer View Post
Will this work on the 5 or 15 minute or is that too noisy? What is the period of the first MA. Thanks
Too much noise on the lower timeframes for this system.

H1 is best.
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  #10  
Old 24-02-2009, 12:53
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Quote:
Originally Posted by biometrix View Post
well, i followed the pattern as you described and i found out something....i noticed that if i set my S.L for just 30pips, i ll loss my trades cos of the movement patterns of fx market so i decieded to use my initiative to set my SL at the point where the yellow line intercets the red line for both the buy and the sell trades.Thats the only modification to earn max profit.I trade one lot and so far, i made $600 using this method on 4different trades today....Thats ok by me!!! lol.
If you have got a smaller account or your afraid, stick to the 30pips s/l.i also set my T/P to 20-25pips so i dont get too greedy(Not good for my health...lol)Thanks once again if you can share more methods so we can have a variety, i would love that.Watch out for mine soonest!!God bless you lots
Emmanuel
Hey, thanks for your feedback biometrix. Great to hear you've made $600. Seriously, whatever works for you, then that's all good.

P.S. I'm not restricting what modifications you feel will benefit this system. You'll soon realise the flaws of the system, and you'll improve and learn new methods as you gain experience.

Last edited by AshFX; 21-05-2013 at 20:55. Reason: Removed invalid link
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  #11  
Old 27-02-2009, 21:25
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I'm sure that I am just missing something, but what is the entry? Is it that the cross occurs exactly when Awesome turns the color in the same direction, or is it one then the other?
Thanks,
David
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  #12  
Old 27-02-2009, 21:42
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Quote:
Originally Posted by dmizrahi View Post
I'm sure that I am just missing something, but what is the entry? Is it that the cross occurs exactly when Awesome turns the color in the same direction, or is it one then the other?
Thanks,
David
Hi Dmizrahi,

It doesn't really matter to be honest, which one comes first. The cross can occur first, or the Awesome can occur first.

I'll post some examples over the weekend.
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  #13  
Old 28-02-2009, 13:29
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Default thanks

simple and profitable:)
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  #14  
Old 01-03-2009, 01:30
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Quote:
Originally Posted by AshFX View Post
Hi Dmizrahi,

It doesn't really matter to be honest, which one comes first. The cross can occur first, or the Awesome can occur first.

I'll post some examples over the weekend.
Thanks! BTW, what is your win ratio? Also, if the Awesome occurs first, do you enter at the cross or the hour after the cross in order to confirm the cross?
Thanks again,
David
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  #15  
Old 04-03-2009, 08:20
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Default The Super Simple System

I was just looking at all Ash's system and I was quite intrigued by the Super Simple System (SSS).

Is there a way for me to filter out false signals?

Thanks.
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  #16  
Old 04-03-2009, 12:52
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Quote:
Originally Posted by dmizrahi View Post
Thanks! BTW, what is your win ratio? Also, if the Awesome occurs first, do you enter at the cross or the hour after the cross in order to confirm the cross?
Thanks again,
David
Win rate isn't spectacular, but it does have the ability to catch decent trends. The key feature of this system is it's simplicity.

You only enter at the close of the hour.
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  #17  
Old 04-03-2009, 13:03
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Here are the last two trades on Eur/Usd.

Both were profitable.
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  #18  
Old 04-03-2009, 13:05
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Another one is almost lining up, we have to wait till the candle closes.
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  #19  
Old 04-03-2009, 13:07
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The 30TP and 30SL rule can be modified for different pairs. Some pairs are more volatile than others, and you'll realise this more as you test your trades. There is no fixed rule here, but what is fixed is that you don't change the reward/risk ratio, it should always be 1:1. I.e. whatever your TP is, then that should also be your SL.

For example, on the GBP/JPY, you may want a 50 TP and a 50 SL, since this pair moves a lot. Again, it's not a fixed rule, and this part of Forex Trading is what we call "discretion", where you judge what decisions to make, on which pair, and which time, based on current factors. The ability to successfully use discretion only comes with practice and ultimately, experience.
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  #20  
Old 04-03-2009, 13:22
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Quote:
Originally Posted by hedgehog View Post
I was just looking at all Ash's system and I was quite intrigued by the Super Simple System (SSS).

Is there a way for me to filter out false signals?

Thanks.
I guess that's the million dollar question hedgehog!

The problem is, the more filters you apply, the less trades you get. Then you would still get false signals. So then you apply more and more filters, giving you less and less number of trades. Then finally, you reach a stage where you've applied sooooo many filters, that you might only be seeing 1 or 2 trades a week!

Even then, some of them will turn pear shaped.
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  #21  
Old 04-03-2009, 14:07
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Default You Have A Good Point

Ash,

Thanks for the setting things straight. As the system's master, I guess you have a very good point that if we apply too many filters, then it wouldn't be called the Super Simple System now would it?

Having said that, I demo traded this SSS and made more in my P/L compared to some SUPER DUPER SYSTEM (that costs super duper amount of money too) that claims to makes thousands of pips per month.

So Ash, great work!! :cool:
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  #22  
Old 04-03-2009, 14:10
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Default Is there an Alert?

Hi everyone,

Just wondering if anyone has an alert for when the MAs crosses. It a chore monitoring so many charts, so an alert would be perfect. :D

Thanks.
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  #23  
Old 05-03-2009, 08:12
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There was a cross of MAs at the red vertical line. Why did this trade not work out?

Thanks for comments.
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  #24  
Old 05-03-2009, 11:08
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Quote:
Originally Posted by hedgehog View Post
There was a cross of MAs at the red vertical line. Why did this trade not work out?

Thanks for comments.
No offense meant, but it is simply because there are no 100% win/success rate system in the world, only profitable one but still you "must" suffer loss :) and move on to another trade.
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  #25  
Old 05-03-2009, 11:35
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Quote:
Originally Posted by Ben920FX View Post
No offense meant, but it is simply because there are no 100% win/success rate system in the world, only profitable one but still you "must" suffer loss :) and move on to another trade.
None taken. Yes I realized that. As usual, human nature or perhaps competitive side would always seek an answer or something to justify what went wrong. I was also hoping there was something in there that I did not see while others saw.

Thanks Ben920FX.
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  #26  
Old 05-03-2009, 19:38
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Default thanks

thank you very much for the effort>:)
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  #27  
Old 05-03-2009, 21:59
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Love this system, am trying it out today, thanx.:cool:
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  #28  
Old 06-03-2009, 20:52
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Default Does SSS work on larger timeframes?

Howdy all,

Does anyone know if this Super Simple System is profitable on 4 Hour charts and/or daily charts? I ask since I'm really busy with work and family throughout the day. OK, enough about my personal life. :p

Anyways, thanks much everyone for your attention to my post. :)

From me,
dicarlp
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  #29  
Old 07-03-2009, 05:03
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Used it for three days so far. Looks good
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  #30  
Old 07-03-2009, 12:41
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Hi Ash,
thanks for sharing the system.
I'll be demo testing it in the following weeks


Good trading everyone:)
D_G
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  #31  
Old 09-03-2009, 08:14
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Default

been using and watching it on the 5m 15m 30m & H1

results have been pretty good for short term...scalping..

I did add another indicator that I picked up from another site.

RSI8 with a EMA8 over laided.

watch the direction the RSI crosses EMA

tends to give a heads up before the SSS shows direction

your opinion would be appreciated.
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  #32  
Old 09-03-2009, 16:05
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Default RSI8 EMA8

How do you overlay the two indicators? Tried but couldn't.:(
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  #33  
Old 09-03-2009, 17:09
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1. Set up the RSI(8)

2. Set up EMA(8) in the same window with RSI by dragging
the Moving Average icon onto the RSI window, then choose Apply
to: First Indicator’s data
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  #34  
Old 13-03-2009, 03:18
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Default Any Updates

Any updates on how this system is doing? It seems that with any moving average system there is always whipsaw, how is this system handling it?

What pairs are people trading?
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  #35  
Old 13-03-2009, 03:20
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Please...what are the two moving averages? 14 & 7? Are they based on the EMA close price?

Thanks,
Bob:confused:
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  #36  
Old 13-03-2009, 08:01
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Quote:
Originally Posted by Bobkat View Post
Please...what are the two moving averages? 14 & 7? Are they based on the EMA close price?

Thanks,
Bob:confused:
Hi Bob,
Based on the instructions as per post #1, what i've got in my FXDD chart is 7 ema & 14 ema. Both are applied to the close price.
Hope that helps :)
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  #37  
Old 15-03-2009, 03:21
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Default MA Crossover Alert

Quote:
Originally Posted by hedgehog View Post
Hi everyone,

Just wondering if anyone has an alert for when the MAs crosses. It a chore monitoring so many charts, so an alert would be perfect. :D

Thanks.
You'll find a couple of custom indicators for Metatrader 4 in this forum:

Index of /_MT4_Indicators

I personally use this one (which has alerts):

http://www.abysse.co.jp/mt4/indicato...0Crossover.mq4

Hope this helps!
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  #38  
Old 16-03-2009, 08:53
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Quote:
Originally Posted by jesperweber View Post
You'll find a couple of custom indicators for Metatrader 4 in this forum:

Index of /_MT4_Indicators

I personally use this one (which has alerts):

http://www.abysse.co.jp/mt4/indicato...0Crossover.mq4

Hope this helps!
how does one copy it to MT4?
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  #39  
Old 17-03-2009, 01:53
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Default HELP

Hi Ash

I am new to forex and decided to go with the SSS. Have a little problem though.You said to change the MA method to "exponential" when setting up the charts. This seems impossible as only figures appear on the parameters box therefore i could not do the changes. Pls tell me if i missed something.
Thanks for your time.

Ace1:)
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  #40  
Old 17-03-2009, 10:55
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Quote:
Originally Posted by jake View Post
how does one copy it to MT4?
Paste the source-code into MetaEditor as a new custom indicator and compile.
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