I have been testing many indicators and programs for years to determine which combinations will work the best and most importantly which combinations are the most accurate. From all my studies and research I put forth the following program. I call this program the Symphonie Trader System.
Named for the combination of indicators used to determine tops and bottoms for placing entry orders and exit strategy to maximize profit.
These four forces at work in the marketplace are; Trend, Emotion, Sentiment, and Extreme and each one reinforces the other.
The Symphonie Trader System works together like the components of a Symphonie. Alone each instrument has a weak sound, but; when put together the complete symphonie makes beautiful music rich in sound and texture.
The entry and exit strategy is simple. For placing an order one would wait until you have an extreme spike (opposing colour change) and the other 3 indicators show the same colour in the direction of the extreme value.
So, one will execute order at close of all 4 indikators point in same direktion. As an alternate method to better protect ones stress level do not execute a ”markt order” and utilizy the ”pending order” function instead.
Why a pending order? Easy; one can avoid the whipsaw pullbacks that normally happens at the start of a Symphonie Signal as price aktion breaks the edges of a range.
Some time the edge holds and price aktion reverses that can result in one have a loss order. Pending orders keep one to the edge breaks and with the trend versus chasing price aktion with a markt order. Let the market come to you and hand you pips. The downside to a pending order is that one is enter the markt at a high price (buying) or lower price (selling) than using markt order. (Usually 7 pips).
The system exit strategy is simple but here are three possible degrees of exit based on ones level of conservativeness or aggressiveness.
When theTrend indicator shows an trend value change (i.e. colour change) exit the trade at the close of that candlestick. This strategy makes sure that you get all the profit from a trade in a movement.
The downside to this strategy is you are exiting an order when the ends level may not be fully complete and you may miss out on additional profit. If the price action movement is stronger that the cycle extreme shows one would be exiting potentially at the first beginnings of a strong movement and will miss out of the entire movement.
When the Extreme indicator shows an extreme value change (spike or v3.0 colour change) ) exit one half of the trade at the close of that candlestick. (One caveat…..once you get an extreme spike wait for 3 to 4 bars to see it the Extereme holds or exit on first from version 3.0). If no repaint then exit at close of 4th bar/beginning of 5th.)
This strategy makes sure that you get half of the profit from a trade as the extreme points are reached in a movement. The second half of the order would continue to run until the trendline changes colour. Once the trendline changed colour one would exit at the close of that candlestick.
With this strategy half of your order has the potential to gain further if the price action movement is stronger than the extreme point indicated and you could reap the extra movement pips. The downside is that if the extreme is on target and rebounds could hit your 3 pip positive stoploss and loose half your profit.
One caveat…..once you get an extreme value one can wait 3 to 4 bars to see it the Extereme holds. If no repaint then exit at close of 4th bar/beginning of 5th. or exit at change in extreme value.
When all four indicator shows an colour change (spike or v3.0 colour change) one would not exit the order and look to a second indicator order to execute on the new signal.
With this strategy you have the potential for further gains if the price action movement is stronger than the extreme point indicated and you could reap all extra movement pips with a full order.
The downside is that if the extreme is on target and rebounds the price action could hit your 3 pip positive stoploss and one would lose your potential profit. This exit strategy is also called ”Signal to Signal” exit.