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realjumper Dec 2, 2011 9:03pm | Post# 3381

Hi,

New to Forex. Been following the thread for a while. Wanted to ask RealJumper if you have different settings for the extreme indicator on m1 charts. I seem to have very few spikes on m1. Significantly less than that on the m5.
No.....the settings are all the same. You have to understand that the M1 chart is a different beast to the m5, and the M15....and everything else. The only thing that is the same is the currency pair! The M1 charts indicators will act differently to the M5 because the indicators are working to an equation to achieve a result, based on the timeframe of the current chart.

You can only trade the M1 charts when the PA is suitable. Sometimes the M5 charts are un-tradable, especially when the PA is in a tight range, and the M1 charts see that same PA is easy to trade. Sometimes the M1 is untradable.......it all depends.

I wouldn't, and don't make a habit of trading M1 charts, I just do it when M5 won't give up any pips but M1 will........10 trades of 8 pips average is 80 pips!!!

The spikes on the M1 are certainly helpful, but for me, the secret lays in the stochastic. If I could only ever have one indicator, I would choose the stochastic.

Everything you need for M1 trading is here

realjumper Dec 2, 2011 9:06pm | Post# 3382

May this little nothing trader please offer some potential help.
Now whatever advice RJ gives you automatically trumps and has much more weight than anything I could add.
I have this also on my 1 min chart. Thought it was wierd until I got an idea. Maybe less spikes, the better. Why, because even when I don't get interim spikes on a 1 min chart, I ALWAYS get em really close to tops and bottoms (They always have to come). Why, don't know, yet it helps to stay in the trade longer than if I was getting more spikes. Longer in the trade, more...
Not true man......everyones advice is worth considering, and everyone can learn from everyone too.

My advice to you, is to not focus on the spikes too much.....learn to read the stochastic oscillator. The spikes are handy, but the stoch is the 'real deal'

CasinoEdge Dec 2, 2011 9:13pm | Post# 3383

Not true man......everyones advice is worth considering, and everyone can learn from everyone too.

My advice to you, is to not focus on the spikes too much.....learn to read the stochastic oscillator. The spikes are handy, but the stoch is the 'real deal'
Yes, the stoch is a good filter, and I don't trade without it!

realjumper Dec 2, 2011 10:55pm | Post# 3384

Yes, the stoch is a good filter, and I don't trade without it!
Yes it is good.....it has been around since about 1950 and it still works well. On it's own it can generate many false signals, but when combined with even a simple moving average, it is a very powerful indicator.

It's a pity that many new traders like to choose the latest and flashest looking indicators as a first step into trading. A simple MA + Stochastic is all that is need to be profitable......all the extra indi's enhance this profitability, which is great, but people still ought to become familiar in trading with just an MA and Stochastic, because they will be a valuable tool that will stand them in good stead for ever more......no matter what system they choose to trade eventually.

5c

RJ

MaryJane Dec 2, 2011 11:59pm | Post# 3385

1 Attachment(s)
A simple MA + Stochastic is all that is need to be profitable......
so true

add an ATR channel and such obvious M1 range can be scalped almost mechanically without even looking at candles (me saying this ). yet the execution must be flawless and quick, lowspread and slippage-friendly br0ker is mandatory.

sample below: flat 5 hours of asian session, range 37 pips, those small trades would add into 94 pips (!!). i like to use the experimental spike indi with dist2=66 on M1 only but the stochastic is the really the key, the underlaid senti/emo is a nice confirmation. exit always on the other side of channel [the bands are ATR(300) * 2.618]. The center line is SMA(75) which happens to be SMA(5) in M15 and if the market starts to trend, it takes a clear slope really fast ..tight stops, no excuses (+spread if above the tops).if stopped out twice in the same direction, the range may be over.

and in trend or drift the bounces off the midline (or the bands with deeper pullbacks) can be traded with precision using symphonie + stoch, looking at 5'/15' big pic
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ttaro27 Dec 3, 2011 12:47am | Post# 3386

so true

add an ATR channel and such obvious M1 range can be scalped almost mechanically without even looking at candles (me saying this ). yet the execution must be flawless and quick, lowspread and slippage-friendly br0ker is mandatory.

sample below: flat 5 hours of asian session, range 37 pips, those small trades would add into 94 pips (!!). i like to use the experimental spike indi with dist2=66 on M1 only but the stochastic is the really the key, the underlaid senti/emo is a nice confirmation. exit always on the...
Could you upload your template, please ?

MaryJane Dec 3, 2011 1:15am | Post# 3387

3 Attachment(s)
Could you upload your template, please ?
for m1 range only (just playing.. preparing for december doldrums)..
i didn't trade it yet (this one exactly)!!

RJ's m1 tpl does the same (or better!)

you will need indi from post#1 (senti+emo+combi),
+ experimental spike (i posted it before)
+ the two below
ATR Bands.mq4
StochasticColor.mq4
m1range.tpl

realjumper Dec 3, 2011 1:45am | Post# 3388

1 Attachment(s)
so true

add an ATR channel and such obvious M1 range can be scalped almost mechanically without even looking at candles (me saying this ). yet the execution must be flawless and quick, lowspread and slippage-friendly br0ker is mandatory.
Nice one MJ.

Lets have a look at Fridays NFP on the H1 chart. Just stochastic and SMA.

Have a look at the chart.....see the last push up of the candle (just before NFP) pushed the stoch well into the oversold area? See where the stoch turned over?......see where the red and green lines crossed?? All of those things are a warning that this thing might (might) be about to drop.....1 full hour BEFORE NFP.......still think that retail traders get the news at the same time as the big players??

SO we have been given a strong warning that this thing might drop. We *could* enter on the first bear candle after the stoch cross, and we would have got away with it.....but.....better to wait for confirmation of another indi. Take the trade as the first bear candle opens *under* the SMA, and place your SL just above the SMA. Have look below at the stoch.....yep.....the red and green lines are separate and racing downhill. This trade is a good one.

The exit could be when the stoch turns up again, and that would be fine, or a more adventurous exit would be at the next stoch cross.....and if you exited there, you'd have an easy 100 pips in your hot little hand.

So there you go.....even NFP is no match for the stochastic oscillator and SMA!!!
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ohammond Dec 3, 2011 3:55am | Post# 3389

Nice one MJ.

Lets have a look at Fridays NFP on the H1 chart. Just stochastic and SMA. Hopefully these charts will post in the correct order, but if not, have a look at the chart with the divergence. Does anyone really think that us retail traders get the NFP news at the same time as the big players?!?!?!

Anyway, that divergence is impossible to miss, and an oscillator indi, not matter whether it is Stochastic, RSI, MACD or whatever, when you see a divergence such as this, pay attention to it.....these are amoung the most reliable...
Only one problem there, the divergence you're showing is surely hidden bullish divergence, price should go up, which it did at first. Apart from the stoch crossing downwards after, and being in an oversold area there is nothing in that divergence that would tell me its going down.

realjumper Dec 3, 2011 4:02am | Post# 3390

Only one problem there, the divergence you're showing is surely hidden bullish divergence, price should go up, which it did at first. Apart from the stoch crossing downwards after, and being in an oversold area there is nothing in that divergence that would tell me its going down.
Yes you're quite correct......it is a hidden bullish divergence. I was too quick in my posting. I never can remember the various divergences and I failed to check this one against my 'cheat sheet'.....bad form on my part.

So that was a poor example on my part, thanks being alert and clearing that error up for me. The rest of the text stands however, divergences on the oscillators are very reliable.

ohammond Dec 3, 2011 4:05am | Post# 3391

Yes you're quite correct......it is a hidden bullish divergence. I was too quick in my posting. I never can remember the various divergences and I failed to check this one against my 'cheat sheet'.....bad form on my part.

So that was a poor example on my part, thanks being alert and clearing that error up for me. The rest of the text stands however, divergences on the oscillators are very reliable.
Yes I totally agree, I use them all the time, was just pointing it out for any new traders that might be looking at the thread.

realjumper Dec 3, 2011 4:07am | Post# 3392

Yes I totally agree, I use them all the time, was just pointing it out for any new traders that might be looking at the thread.
Yep...good on you...thanks for that. I'll edit the post and find a better example later.

realjumper Dec 3, 2011 4:28am | Post# 3393

Divergence
 
1 Attachment(s)
Here is a stochastic divergence......a correct one this time after my silly error that was spotted by ohammond......cheers for that.

This is a Hidden Bullish divergence, and as you see.....the PA continues it;s climb uphill. Divergences that come from oscillators such as stochastic, rsi, macd etc are one of the most reliable signals that you'll see on fx.....and this is another good reason to keep the stochastic on your chart.

So you don't make the same mistake that I made and ohammond cleared up for me.....here is a link to a divergence 'cheat sheet': http://www.babypips.com/school/diver...eat-sheet.html
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astock Dec 3, 2011 5:18am | Post# 3394

divergence
 
@ rj
no, thats not a silly error, these are good examples for learning.
Specially for me as a rookie.
thx

realjumper Dec 3, 2011 4:45pm | Post# 3395

@ rj
no, thats not a silly error, these are good examples for learning.
Specially for me as a rookie.
thx
Divergences are a strange thing.....I never have any problem spotting them, but I always have to check them against my cheat sheet because I just can't remember which way they go......I must be a divergence dyslexic!

realjumper Dec 5, 2011 4:28am | Post# 3396

Well this has been hard work since Asian open.....it doesn't want to give up much in the way pf pips. So Far:

8 Trades
5 winners
1 loser
2 exit at BE

Total = +42

Edit: This is on the M1 chart btw

Nut Dec 5, 2011 6:18am | Post# 3397

Divergences are a strange thing.....I never have any problem spotting them, but I always have to check them against my cheat sheet because I just can't remember which way they go......I must be a divergence dyslexic!
Just wait until the Alzhimers sets in with the dickslexia you wont be able to spell errrrrrrr them direction words never mind divergence.

Cheers
Nut

Evaluator Dec 5, 2011 8:27am | Post# 3398

1 Attachment(s)
NEW Account Statistics Report week 5

As I have done for the past Fridays, I am posting my weekly Account Statistics Report on the NEW Account. Also, please remember that I am only trade EURUSD only in 15 min timeframe and only during EURO and beginning US market times. No more 24 hr trading for me. Getting too old to do that.

My apologies for being tardy with posting this past weeks report. I was on vacation last Thursday and Friday. Took a small vacation to get to the Christmas Markets and do some sight seeing. As you can see from the report the thread account did not perform very well this past week. In addition to only trading 3 days the 5 central bank interventions caught the 15 min. charts on the wrong side of the market and it was a quick loss on the 15 min chart. This market is really jumpy and I would have espected a bounce in the markets as we head into the end of the year which should be euro positive but that appears not to be materializing. I am looking of for some resolution (even temporary) to the Euro crisis that will cause a relief rally to end the year but only the markets will determine that plus I look to a 12500 to 13000 DOW to end the year on a high before we crash next year.

As you can see from the chart the thread account was choppy but we are even with the prior week...maybe 200 to 300 higher. Looking for some good trades this next week to end up the year before the Christmas Holidays. I know I said this last week but I still think we should see some form of break to the upside or the downside next week that will decide the market direction of the rest of 2011.

Happy Trading all.....
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Evaluator Dec 5, 2011 8:32am | Post# 3399

469,141
over 200 pages and over 3400 posts
Moving and shaking the FF forum!!!.......

Since my last post about visititation (7 days ago) this thread continues gains of 12%!!!

(see post #150 , post#658, post#1164, post #1508 , post #1751 , post #1987, post #2257, post #2551, post #2868, and post #3103)

A big HUG and Kiss to everyone ...

Thank you for visiting this thread. It is my sincere hope you find it instructive and helpful to your trading.
PLEASE PLEASE please....keep it up with the comments, ideas, and teamwork.

Evaluator.

(please do not forget to rate)

P.S. Have a WONDERFUL trading week.

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ttaro27 Dec 5, 2011 9:22am | Post# 3400

Why is market so slow today, someone know or has an idea ?


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