DislikedAl, do we also have to wait for the candle close after the MA cross lines while trading the 1 hour and 4 hour time frames?Ignored
Observation is the path to discovery.
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DislikedAl, do we also have to wait for the candle close after the MA cross lines while trading the 1 hour and 4 hour time frames?Ignored
DislikedAnother important point i would like to make here is wave analysis (higher lows, Lower highs).
No matter what TF you trade or what pair you trade if you pay attention to the waves that a pair produces then you will be able to anticipate the next move of PA to a certain extent.
This system is all about the waves that PA produces so the 123 pattern can also be used as an advantage here
Heres a chart of what one should look for to analyze waves.
Its really simpleIgnored
DislikedX-Man, great post!
I'm so glad that we can discuss this openly and Al doesn't mind us adopting his system to our individual MMs.
X-Man, I agree that 20-25-30 pips should be enough for M-15. As a matter of fact I'll probably start with only 20 pips and then I'll see whether I have to make it bigger or not.
Of course, Al is right when he says "the possibility of repeated spikes at the top (or bottom)", but I'm planning to use not stop-loss per say but rather a pending hedging order (buy-stop if I sell and sell-stop if I buy) placed 20 pips...Ignored
DislikedX-Man, can you come up with a different spin on how to fit your wave concept extremes to this system? Any ideas? As I said on page 1, this is a fine system but I am sure we can make it better and more profitable. Any suggestions that may increase profitability and/or reduce risk are highly welcome.Ignored
Dislikedhi x-man
is this a indicator with the H, L, HH, LL, HL, LH on you chart??
if yes could you put it as an attachment, that would be great
thanks in advance
manilaspurIgnored
DislikedI will be posting ideas when i come up with any.
At the moment if the traders follow your rules on post 1 they will be fine.
Traders must just keep sensible targets all the time and maintain patience and discipline. if the pairs dont produce any trades today that does not mean i have to jump into any trade that i feel move in a certain direction.
Personally if i make 250 pips for the entire week ill be more than happy as that would give me a 1000 pip target per month
showing greed , no patience and no discipline will surely kill a traders account...Ignored
DislikedAl,
Thank you again. You're offering us your system on silver platter. Now with EA's the system is so easy to operate, a real no brainer, even an oldbie (old newbie) find it easy to handle. I suppose there is some kind of filter in the EA's.
Is the white line some kind of MA ? I have to install them and try.
flawIgnored
DislikedGreat suggestion Mike!! I am going to write up your hedging strategy for page 1 this weekend. If you can detail it for me, I would really appreciate it.Ignored