Disliked{quote} I would also like to point out that it is The Close which decides whether a candle is Red/Green, Doji/Hammer, IB/OB and so on.Ignored
The only winner is the one who survive the longest...
Looking for higher timeframe candlestick overlay indicator 6 replies
Beating the Odds - Edge Within a Single Candlestick (Explained) 70 replies
An Edge for an Edge (System Development) 113 replies
top 2 single candlestick pattern 7 replies
There is No Edge in a Single Candlestick 64 replies
Disliked{quote} I would also like to point out that it is The Close which decides whether a candle is Red/Green, Doji/Hammer, IB/OB and so on.Ignored
DislikedAs to trading random horizontal lines, I conducted an experiment using LFH simulator. Threw some random lines on a H1 USD/JPY chart and said, I will buy when price crosses up from below and sell when prices crosses down from above. I also used a line chart where the line color was "None" meaning I couldn't see anything on the chart but my random lines and the bid/ask price line. The test was with SL/TP = 30/30 And now the results, I didn't save it, but it was profitable. Unfortunately one can't run trailing stops and move-to-BE on a simulator,...Ignored
Dislikedhey guys, thanks for the great thread, I have been conducting a backtest using this concept of 1 hourly candle and cutting losers short and letting profits run. So far I have taken around 45 trades and the account is up by 45%. 1% risk per trade. The only problem I have is that I am getting lots of losers but a few huge winners, which would be hard psychologically for me trading real money. The losing streaks seem to occur in ranging periods... MY question is does the average true range hold importance as I have been using this as a volatility gauge...Ignored
Disliked{quote} Awesome job! If it's hard on the psyche lower the lot size. How about .5% risk? Feel the same? IMO neither has more relevance over the other. Trade your next 45 based on the previous candle range. You will find out that it's YOU growing the account. Not the filters. My opinions...Ignored
DislikedThe importance or irrilevance of a reference point http://www.sciencedaily.com/articles/a/anchoring.htm AlexIgnored
Disliked{quote} Alex, reference points shouldn't bias you towards an outcome. One where you get trapped and reality and your bias become misaligned. A reference point when used correctly should give you the raw truth, the facts. It will be obvious and apparent to all! If usdjpy is trading under Tokyo open and then London comes online and they offer the pair out of the open and the buyers cannot break the sellers, what exactly does that tell you about usdjpy? If you ask a million people they'll give you the same answer and it won't be biased. Why? Because...Ignored
Disliked{quote} I understand your point of view and I think yours and mine are two sides of the same coin. I don't know which one is better, I'm analyzing each one indipendent so don't take my words as an end clear point of view. Your point of view, unbiased. Take as reference Tokyo and look how price reacts at London open or whatever. In this case I used a reference of 8 hours ago, it can also be a reference of 1 hour ago, but it is still a past reference. My point of view, biased. Premise, majority of people take biased decision. The act of take a decision...Ignored
Disliked{quote} I understand your point of view and I think yours and mine are two sides of the same coin. I don't know which one is better, I'm analyzing each one indipendent so don't take my words as an end clear point of view. Your point of view, unbiased. Take as reference Tokyo and look how price reacts at London open or whatever. In this case I used a reference of 8 hours ago, it can also be a reference of 1 hour ago, but it is still a past reference. My point of view, biased. Premise, majority of people take biased decision. The act of take a decision...Ignored
Disliked{quote} I understand your point of view and I think yours and mine are two sides of the same coin. I don't know which one is better, I'm analyzing each one indipendent so don't take my words as an end clear point of view.Ignored
Disliked{quote}
Why do people buy or sell? Because they perceive price going up or down.
Last decision is biased by price, current prices.
My view, in this case, of a reference point is in the now.
Our mind subconsciously take a reference point and when we perceive price moving away of a certain degree from that point we react (buy or sell).
Each person is individual but when you see people as a collective, what does it happen?Ignored
Disliked{quote} Just realized u summed up my junk in one sentence. Zzz, time for me to learn to write better.Ignored
Disliked{quote} Ha..it's not my gift either. I'm hopeless Kinspk! Graphic below expresses my previous post visually. The graphic is raw. Other static points like bids/offers, handles/halfs, session highs/lows etc need to be used. By doing so, you'll get a running/continuous stream of feedback on EU performance. By omitting historical price prints, i cut through the bullshit and pick up almost instantly on 'right side' of trade. regards {image}Ignored
Disliked""95% of the time price will close above or below the open." Amateurs will never see the edge in this quote, unless a professional point it out where the edge lies within this quote."Ignored
Disliked{quote} Thanks Neio for this thread. This below (pics) is my contribution to statistical analysis. In one point I disagree with you: it's not 95% of times price moves away from the open. It's less. I considered O-C < 0.5 pips and more or less only 85% of times price moves above or below the open. (at least for this pair). Anyway thanks {image}Ignored
Disliked{quote} Yes, it took me one whole week to code this piece of software (I'm slow) and it's not finished yet. But the hard part it's to deal with GMT hour and daylight save period... have to check out if everything is right. And have to study the outputIgnored