{quote} Good choice to me. Aligment of the TFS is one secret for a winning trade. Another tip when trading Yen pairs: if Nikkei is up all currencies will be long against the Yen.
Alien's Extraterrestrial Visual Systems
- #18,582
- Oct 24, 2017 4:53am Oct 24, 2017 4:53am
- Joined Jul 2013 | Status: Trader | 2,603 Posts
{quote} Would You w8 for h4 to give a bbs green light or look to enter on lower time frames?
Didn't notice the setup in time so now also me waiting for a retrace on 15 M or H1 to enter long. (teeth on ADX slopes in M5 and M 15 say is possible a retrace)
Per aspera ad astra
- #18,583
- Oct 24, 2017 6:25am Oct 24, 2017 6:25am
So next 2 trades to analise:
USDCAD 2017.07.05
H1 setup:
rsioma and stochastics pointing down, adx's not that great on this one
H4:
adx's up, rsioma short + forming ds
M30:
stochastics show sharp move to the downside, rsioma pointing down, adx;s expansion underway
in hindsight stochastics on h4 showed posibble bottom already, in the conditions of low volatility indicators are less usefull for sure, should have w8 for bbs on m30 end and show direction.
AUDUSD 2017.07.12
Winning trade
slingshot
h1 setup:
perfect setup for me rsioma up full strength, adx;s expanding, stochastics besides 8.3.3 are very high
H4:
full strength trend, only 8.3.3 gives us some warning that it is very high already
m30:
rsioma pointing up, adx's expanding, 8.3.3 pointing up
As always are opinions and suggestions are welcomed
Looking forward to it.
USDCAD 2017.07.05
H1 setup:
rsioma and stochastics pointing down, adx's not that great on this one
H4:
adx's up, rsioma short + forming ds
M30:
stochastics show sharp move to the downside, rsioma pointing down, adx;s expansion underway
in hindsight stochastics on h4 showed posibble bottom already, in the conditions of low volatility indicators are less usefull for sure, should have w8 for bbs on m30 end and show direction.
AUDUSD 2017.07.12
Winning trade
slingshot
h1 setup:
perfect setup for me rsioma up full strength, adx;s expanding, stochastics besides 8.3.3 are very high
H4:
full strength trend, only 8.3.3 gives us some warning that it is very high already
m30:
rsioma pointing up, adx's expanding, 8.3.3 pointing up
As always are opinions and suggestions are welcomed
Looking forward to it.
- #18,584
- Edited 7:27am Oct 24, 2017 7:08am | Edited 7:27am
- Joined Jul 2013 | Status: Trader | 2,603 Posts
So next 2 trades to analise: USDCAD 2017.07.05 H1 setup: {image} rsioma and stochastics pointing down, adx's not that great on this one H4: {image} adx's up, rsioma short + forming ds M30: {image} stochastics show sharp move to the downside, rsioma pointing down, adx;s expansion underway in hindsight stochastics on h4 showed posibble bottom already, in the conditions of low volatility indicators are less usefull for sure, should have w8 for bbs on m30 end and show direction. AUDUSD 2017.07.12 Winning trade slingshot h1 setup: {image} perfect setup...
Per aspera ad astra
- #18,586
- Oct 24, 2017 11:15am Oct 24, 2017 11:15am
- Joined Jul 2013 | Status: Trader | 2,603 Posts
So next 2 trades to analise: USDCAD 2017.07.05 H1 setup: {image} rsioma and stochastics pointing down, adx's not that great on this one H4: {image} adx's up, rsioma short + forming ds M30: {image} stochastics show sharp move to the downside, rsioma pointing down, adx;s expansion underway in hindsight stochastics on h4 showed posibble bottom already, in the conditions of low volatility indicators are less usefull for sure, should have w8 for bbs on m30 end and show direction. AUDUSD 2017.07.12 Winning trade slingshot h1 setup: {image} perfect setup...
You know the saying "let the winners run". Now Stoch. 100 was stuck to the ceiling and you could have taken every slings up till 100 left the 80 zone or keep the winner.
This is a particular way of trading the trend that master Alien taught.
To your success.
Per aspera ad astra
- #18,589
- Oct 25, 2017 4:08am Oct 25, 2017 4:08am
- Joined Jul 2013 | Status: Trader | 2,603 Posts
A fundamental update for today.
"A more hawkish replacement to Janet Yellen, as chair of the Fed in February, continues to be suggested, this is also helping to increase the dollar’s value versus several peers, whilst the December FOMC meeting, with its 80% chance of a rate rise announcement, continues to cast a shadow on investors’ radar. The euro experienced a rise versus its peers on Tuesday, despite continuing Catalonia/Madrid tensions, as investors begin to focus on the ECB meeting due to take place on Thursday, the culmination of which should see Mario Draghi the president, announce a programme of tapering the €60b a month asset/bond purchase scheme. With the forward guidance already delivered in previous meetings; that the reduction will be down to €30b per month, the ECB is forecast to broadcast that they’ll be prepared to intervene, should the reduction not have the desired effect. Investors will also be searching for any clues, in the accompanying narrative, that the Eurozone central bank would be prepared to raise interest rates in 2018, from the current floor of zero."
"A more hawkish replacement to Janet Yellen, as chair of the Fed in February, continues to be suggested, this is also helping to increase the dollar’s value versus several peers, whilst the December FOMC meeting, with its 80% chance of a rate rise announcement, continues to cast a shadow on investors’ radar. The euro experienced a rise versus its peers on Tuesday, despite continuing Catalonia/Madrid tensions, as investors begin to focus on the ECB meeting due to take place on Thursday, the culmination of which should see Mario Draghi the president, announce a programme of tapering the €60b a month asset/bond purchase scheme. With the forward guidance already delivered in previous meetings; that the reduction will be down to €30b per month, the ECB is forecast to broadcast that they’ll be prepared to intervene, should the reduction not have the desired effect. Investors will also be searching for any clues, in the accompanying narrative, that the Eurozone central bank would be prepared to raise interest rates in 2018, from the current floor of zero."
Per aspera ad astra
- #18,591
- Oct 25, 2017 5:53am Oct 25, 2017 5:53am
Next 2 setups to assess:
EURAUD 2017.07.10
H4 slingshot:
8.3.3 stoch slingshot, rsioma up, adx's not expanding
D1:
All stochastics going up, adx's expanding, rsioma up but not in the 80 zone
H1:
stochastics going up, rsioma turning up but not yet in the 50 zone, adx's start to expand
In hindsight not a very good setup, h4 long stochastic is crossing down the 80 line and adx's are not expanding so its a indication of losing strength,
h1 bbs rule to w8 for a green dot would save me from this trade
AUDJPY 2017.07.20
H1 slingshot:
rsioma up, adx's expanding, 8.3.3 bottoming,
H4:
all stochs long, adx's expanding, rsioma full up -perfect
M30:
rsioma turning down, long stochastics down, adx's stoped expanding
In hindsight down rsioma and long stochastics on h1 was a warning sign for longs, situation on m30 in every way shows that i should be buying,
If I would w8 for the bbs to show direction i would lost too but i think this trade would be valid:
As always Im looking forward to hear Your opinions thanks
EURAUD 2017.07.10
H4 slingshot:
8.3.3 stoch slingshot, rsioma up, adx's not expanding
D1:
All stochastics going up, adx's expanding, rsioma up but not in the 80 zone
H1:
stochastics going up, rsioma turning up but not yet in the 50 zone, adx's start to expand
In hindsight not a very good setup, h4 long stochastic is crossing down the 80 line and adx's are not expanding so its a indication of losing strength,
h1 bbs rule to w8 for a green dot would save me from this trade
AUDJPY 2017.07.20
H1 slingshot:
rsioma up, adx's expanding, 8.3.3 bottoming,
H4:
all stochs long, adx's expanding, rsioma full up -perfect
M30:
rsioma turning down, long stochastics down, adx's stoped expanding
In hindsight down rsioma and long stochastics on h1 was a warning sign for longs, situation on m30 in every way shows that i should be buying,
If I would w8 for the bbs to show direction i would lost too but i think this trade would be valid:
As always Im looking forward to hear Your opinions thanks
- #18,593
- Oct 25, 2017 8:44am Oct 25, 2017 8:44am
- Joined May 2007 | Status: MT4/MT5 EAs/Indicators/Alerts coder | 6,542 Posts | Online Now
MT4/MT5 EAs/Indicators/Alerts coder
- #18,594
- Oct 26, 2017 12:46am Oct 26, 2017 12:46am
I entered yesterday short on audusd
h1 slingshot:
rsioma long, stochastic slingshot, adx's expanding
M15 entry:
rsioma down slope + ds, adx's expanding, stochastics down sloping.
and now Im thinking should I have exit it with almost BE, h1 looks not good because of the stochastics and adx's, but good for shorts is forming ds-rsioma div
What Do You think guys?
h1 slingshot:
rsioma long, stochastic slingshot, adx's expanding
M15 entry:
rsioma down slope + ds, adx's expanding, stochastics down sloping.
and now Im thinking should I have exit it with almost BE, h1 looks not good because of the stochastics and adx's, but good for shorts is forming ds-rsioma div
What Do You think guys?
- #18,595
- Oct 26, 2017 1:23am Oct 26, 2017 1:23am
- Joined Jul 2013 | Status: Trader | 2,603 Posts
I entered yesterday short on audusd h1 slingshot: {image} rsioma long, stochastic slingshot, adx's expanding M15 entry: {image} rsioma down slope + ds, adx's expanding, stochastics down sloping. and now Im thinking should I have exit it with almost BE, h1 looks not good because of the stochastics and adx's, but good for shorts is forming ds-rsioma div What Do You think guys?
Per aspera ad astra
- #18,596
- Oct 26, 2017 1:36am Oct 26, 2017 1:36am
- Joined Jul 2013 | Status: Trader | 2,603 Posts
I entered yesterday short on audusd h1 slingshot: {image} rsioma long, stochastic slingshot, adx's expanding M15 entry: {image} rsioma down slope + ds, adx's expanding, stochastics down sloping. and now Im thinking should I have exit it with almost BE, h1 looks not good because of the stochastics and adx's, but good for shorts is forming ds-rsioma div What Do You think guys?
Per aspera ad astra
- #18,597
- Oct 26, 2017 2:19am Oct 26, 2017 2:19am
{quote} Hi, what is your exit strategy mate with our system? In this trade it was to exit when the sling ended.
in the past my interfering with trade was mostly bad for the outcome's so i stuck to this method.
For sure there is a better way so Im open to hear about it.
I think we can together build a checklist for the alien system for the new users I saw that you JP had something like this on Your chart:
I fully support systematic approach and want to quantify as much as i can. Do You have such a checklist JP or maybe want to give it a try to create it?
- #18,598
- Oct 26, 2017 4:05am Oct 26, 2017 4:05am
- Joined Jul 2013 | Status: Trader | 2,603 Posts
{quote} SL or TP must be hit (1:2 RR) in the past my interfering with trade was mostly bad for the outcome's so i stuck to this method. For sure there is a better way so Im open to hear about it. I think we can together build a checklist for the alien system for the new users I saw that you JP had something like this on Your chart: {image} I fully support systematic approach and want to quantify as much as i can. Do You have such a checklist JP or maybe want to give it a try to create it?
Agree on that; best trades are the set and forget ones and when they are winners with 1/2 or 1/3 we feel great, but to me a short term setup you have to monitor best.
Regarding rules I'm also trying to be the most disciplined as possible and for this reason I'm creating a checklist, but the work is still in progress.
I took this indi (already posted from Marko) and trying to modify it but don't have the .mq4 file and think you could help in creating this checklist for all aliens. Let me know.
Per aspera ad astra
- #18,599
- Oct 26, 2017 4:55am Oct 26, 2017 4:55am
{quote} Hi Songok, to me if you follow a H1 setup you have to monitor it every 1 or 2 hours and if you want better RR trades you have to go from H4 to daily and also weekly chart. Then when you find a good setup there you can go for a set and forget trade. Agree on that; best trades are the set and forget ones and when they are winners with 1/2 or 1/3 we feel great, but to me a short term setup you have to monitor best. Regarding rules I'm also trying to be the most disciplined as possible and for this reason I'm creating a checklist, but the work...
rough sketch Im thinking about:1. foundamental idea/nihilist currency strength meter to look for best trending pairs
2. Find a setup (8.3.3 slingshot, x cross, aliens hook, divergence - if i didnt mentioned something please add
) by hand/dashboard3. Analysis
a) rsioma in the 50/80 zone and going up?
b) adx's expanding? from what lvl? (continue to climb or from compression?)
c) stochastics in the 80 zone and going up?
d) is there a price/indicator divergence signaling some warning?
e) bbs red or green?
4. Multi timeframe analysis (repeat point 3 for all mentioned TF's)
a) setup time frame
b) higher time frame
c) lower time frame
d) pinpoint entry M5-15
5. Asses risk to reward on setup timeframe (check recent volatility)
6. Look for trigger to entry Your trade on lower timeframes (m5-15)
7. Activation of the trigger - check Your predefined risk-reward ratio again with new price
8. Reap all the profits!!!!!! not ;p
9. While in trade:
If Your trade is in lower TF (h1 and lower for me) check M15 periodically for possible warnings of ending the move (divergencies, sharp moves opposed to Your position etc.)
If higher Tf's check one's a day or leave it be
.10. After the trade is resolved journal Your trade
a) win/loss in R terms
b) what did You do wrong/right
c) how did You feel about it
d) MAE/MFE
e) grade of setup
f) statistics of Your trades after the trade
g) compare Your current streak with statistically probable losing/winning streak based on Your recent win rate
11. Repeat every day to build Your ultimate routine
Bonus:
12. Check your trading stats quarterly/annually to check if everything works as it should if not change it
- #18,600
- Oct 26, 2017 6:47am Oct 26, 2017 6:47am
- Joined Jul 2013 | Status: Trader | 2,603 Posts
To me what comes first is fundamental analysis and to be ready before London open every day.
Then to watch the calendar for the incoming events.
By the way today's overview:
"Sterling rose by circa 1% versus the U.S. dollar on Wednesday, as U.K. GDP for the third quarter of 2017 came in at 0.4% growth, versus the expectation of a 0.3% rise, maintaining the YoY growth at 1.5%. Investors immediately translated this result as evidence that the BoE’s monetary policy committee, now has the necessary ammunition to announce an increase to the U.K. base rate, by circa 0.25%, when they meet on November 2nd. Sterling also rose sharply versus the vast majority of its peers including the euro; EUR/GBP up circa 0.5% on the day. Whilst still down versus its key peer (the euro) in 2017, versus a basket of other minor currency pairs, the U.K. pound is up during the year. However, in terms of weighting, the U.S. dollar and euro still represent the largest counter currencies sterling is exchanged for, and are up 10% and 15% respectively, since the Brexit referendum decision in June 2016. In other fundamental news pertaining to sterling published on Wednesday, the index of services reading fell to 0.2% and loans for home purchases fell marginally. Arguments and divisions have created another round of confusion in the USA Republican Party, which could ultimately alter Trump’s majority and therefore hinder his ambition to lower corporate and individual tax rates to some of the lowest in the developed world. Added to disappointing earnings, this consternation caused the DJIA to slip by over 100 points and circa 0.5%, whilst the U.S. dollar also fell on Wednesday, versus its main peers of euro and sterling. Gold rose, after initially falling through S1, as a risk off mood encouraged a flight to safe havens.
The drop in the main USA indices was made even more fascinating as the only high impact, hard data result of the day; durable goods orders for September, beat the forecast by a considerable distance; coming in at 2.2% growth, versus the 1% forecast. Home sales in the USA also smashed through expectation and defied a seasonal reduction; printing a stunning month on month growth figure of 18.9%, versus a 1% forecast. The fall in equities therefore provides more evidence (if necessary), that the rise in USA equity markets, since the Trump presidency win, has been due to one single, primary, factor; a promise to slash tax rates. "
Then to watch the calendar for the incoming events.
By the way today's overview:
"Sterling rose by circa 1% versus the U.S. dollar on Wednesday, as U.K. GDP for the third quarter of 2017 came in at 0.4% growth, versus the expectation of a 0.3% rise, maintaining the YoY growth at 1.5%. Investors immediately translated this result as evidence that the BoE’s monetary policy committee, now has the necessary ammunition to announce an increase to the U.K. base rate, by circa 0.25%, when they meet on November 2nd. Sterling also rose sharply versus the vast majority of its peers including the euro; EUR/GBP up circa 0.5% on the day. Whilst still down versus its key peer (the euro) in 2017, versus a basket of other minor currency pairs, the U.K. pound is up during the year. However, in terms of weighting, the U.S. dollar and euro still represent the largest counter currencies sterling is exchanged for, and are up 10% and 15% respectively, since the Brexit referendum decision in June 2016. In other fundamental news pertaining to sterling published on Wednesday, the index of services reading fell to 0.2% and loans for home purchases fell marginally. Arguments and divisions have created another round of confusion in the USA Republican Party, which could ultimately alter Trump’s majority and therefore hinder his ambition to lower corporate and individual tax rates to some of the lowest in the developed world. Added to disappointing earnings, this consternation caused the DJIA to slip by over 100 points and circa 0.5%, whilst the U.S. dollar also fell on Wednesday, versus its main peers of euro and sterling. Gold rose, after initially falling through S1, as a risk off mood encouraged a flight to safe havens.
The drop in the main USA indices was made even more fascinating as the only high impact, hard data result of the day; durable goods orders for September, beat the forecast by a considerable distance; coming in at 2.2% growth, versus the 1% forecast. Home sales in the USA also smashed through expectation and defied a seasonal reduction; printing a stunning month on month growth figure of 18.9%, versus a 1% forecast. The fall in equities therefore provides more evidence (if necessary), that the rise in USA equity markets, since the Trump presidency win, has been due to one single, primary, factor; a promise to slash tax rates. "
Per aspera ad astra