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trading Dash Fibo V1- Forex Without Tears

  • #1,381
  • Jan 17, 2018 4:53am Jan 17, 2018 4:53am
Quoting Traffex
{quote} Thank you. Another question: If you are with one or more baskets in a winning situation, when do you exit ? Do you have a daily target ?
having a target is not a good thing in pro trading because it puts you under pressure and some time you overstretch a market because you want to meet target.secondly,market are not always the same every day so i only take what the market gives to me for the day.if my trade plans line up i trade.for my exit of profit i will take about it
  • #1,382
  • Jan 17, 2018 6:23am Jan 17, 2018 6:23am
Quoting Mjyoung
{quote} YES even if it is 4 i will.i take all trades as the signals comes
first of all thanks Mjyoung and other contributors for the great thread

have a question regarding rule #4:
am i understending rule #4 correctly?
- first find weak (strong) currency (slave or master)
- at least 4 of 7 pairs of slave (or master) currency must have percent change above (below) 0.1 (-0.1)
- all these pairs must be 10 pips above (below) daily open line

picture taken at 10 45 GMT today
EUR basket: sell EA, EC, EN, EG, EU
explanation:
- EUR weak (slave)
- other currencies in EUR basket are not slaves (it doesn't matter if these are not masters)
- percent change for these pairs are bellow -0.1
- 10 pips below daily open line (it's painted red)

CHF basket: buy AF, CF, GF, NF, UF
explanation:
- CHF weak (slave)
- other currencies in CHF basket are not slaves (it doesn't matter if these are not masters)
- percent change for these pairs are above 0.1
- 10 pips above daily open line (it's painted green)
arrows in CSM (currency strength meter) don't matter for the rule #4
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  • #1,383
  • Jan 17, 2018 6:49am Jan 17, 2018 6:49am
Quoting Mjyoung
{quote} having a target is not a good thing in pro trading because it puts you under pressure and some time you overstretch a market because you want to meet target.secondly,market are not always the same every day so i only take what the market gives to me for the day.if my trade plans line up i trade.for my exit of profit i will take about it

Thank you. In post #1295 you entered all trades about 9.50 and closed them about 12.27. What was the reason for the exit?
  • #1,384
  • Jan 17, 2018 8:57am Jan 17, 2018 8:57am
Quoting Gluvina
{quote} first of all thanks Mjyoung and other contributors for the great thread have a question regarding rule #4: am i understending rule #4 correctly? - first find weak (strong) currency (slave or master) - at least 4 of 7 pairs of slave (or master) currency must have percent change above (below) 0.1 (-0.1) - all these pairs must be 10 pips above (below) daily open line picture taken at 10 45 GMT today EUR basket: sell EA, EC, EN, EG, EU explanation: - EUR weak (slave) - other currencies in EUR basket are not slaves (it doesn't matter if these...
See Image for some explanations. Thanks
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Wisdom is profitable in all things
  • #1,385
  • Jan 17, 2018 9:00am Jan 17, 2018 9:00am
Not bad for today...
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Wisdom is profitable in all things
  • #1,386
  • Jan 17, 2018 9:16am Jan 17, 2018 9:16am
Quoting wittybiz
Not bad for today... {image}
nice!

can u upload me this report box?
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Anything above the line is an uptrend, below the line is a downtrend.
  • #1,387
  • Edited 10:54am Jan 17, 2018 10:11am | Edited 10:54am
Since explanations are a bit confusing here for many or a bit more and some here play the secretive kind role i will post simple 2 rules at the base of this strategy which i can say is not a bad ideea to follow at all,also is in fact the main rule to manage your entry decision based on currency strength when you use this as indicator in your trading.
The add with rule daily pips since open and daily change % since open can save your ass from problems you might not know to manage like retraces ,pullbacks,rejections.So if you base your entries into the first daily currency pips& change% parameters you can still make some decent pips even if youre not a very skilled trader.Ideea some kind like a cartoon is to not jump and stay in the train while is in station with engine started only, but to jump in the train 1 km away when has already started and have enough speed to move and to jump out from train still in the move before to reach destination station up to which you dont know whats the distance.
Is not bad ONLY if you know how to manage your trades after it was opened.thats called MM and nobody can teach you.
MjYoung or others might not explained perfect maybe due to language barrier and i can see the thing with master and slave can also be confusing for many.
So instead to call a currency master&slave you can call it BASE and QUOTE currencies.
example : pair EURUSD .base currency is EUR quote currency is USD.
So you always look at the BASE as leader against the QUOTE in your trading decisions.
if base is up against quote + UP pips and change % in the limited parameters of above strategy you enter long in that specific pair.
if base is down against quote + DOWN pips and change% in the limited parameters of above strategy you enter sell in that specific pair.
for newbies who still have missing in terms you go and find what is a base currency and what is a quote currency on google and investopedia or babypips will tell you,simple and basic things any trade must know.
cheers!
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Take what you can, give nothing back
  • #1,388
  • Jan 17, 2018 10:27am Jan 17, 2018 10:27am
Quoting Husky77
Since explanations are a bit confusing here for many or a bit more and some here play the secretive kind role i will post simple 2 rules at the base of this strategy which i can say is not a bad ideea to follow at all,also is in fact the main rule to manage your entry decision based on currency strength when you use this as indicator in your trading. The add with rule daily pips since open and daily change % since open can save your ass from problems you might not know to manage like retraces ,pullbacks,rejections.So if you base your entries into...
thank you husky for explaining more.i really hope traders gets it
best regards,
mjyoung
  • #1,389
  • Jan 17, 2018 10:39am Jan 17, 2018 10:39am
Quoting Husky77
Since explanations are a bit confusing here for many or a bit more and some here play the secretive kind role i will post simple 2 rules at the base of this strategy which i can say is not a bad ideea to follow at all,also is in fact the main rule to manage your entry decision based on currency strength when you use this as indicator in your trading. The add with rule daily pips since open and daily change % since open can save your ass from problems you might not know to manage like retraces ,pullbacks,rejections... {image} {image}
Thanks for the info Husky....was curious what the math equation for calculating base and quote percentages? Thanks.
  • #1,390
  • Jan 17, 2018 11:10am Jan 17, 2018 11:10am
Quoting ranger_lp
{quote} Thanks for the info Husky....was curious what the math equation for calculating base and quote percentages? Thanks.
https://en.wikipedia.org/wiki/Currency_strength
how calculations are made and on what exactly are based on that inside DD dash indicator only coder can know exactly.But i remember DD told once in pm that is a simple CS or CSM indicator there.
If you take any other currency strength or currency strenght metter and put is in same window you will see numbers are close to same.
Take what you can, give nothing back
  • #1,391
  • Jan 17, 2018 11:42am Jan 17, 2018 11:42am
Quoting Degolep
{quote} nice! can u upload me this report box? {image}

Please go to:

https://www.forexfactory.com/showthread.php?p=9750862#post9750862
  • #1,392
  • Jan 17, 2018 12:06pm Jan 17, 2018 12:06pm
Quoting Aromos
{quote} Please go to: https://www.forexfactory.com/showthread.php?p=9750862#post9750862
this is why it is not good to skip classes.
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  • #1,393
  • Jan 17, 2018 1:10pm Jan 17, 2018 1:10pm
Quoting Husky77
Since explanations are a bit confusing here for many or a bit more and some here play the secretive kind role i will post simple 2 rules at the base of this strategy which i can say is not a bad ideea to follow at all,also is in fact the main rule to manage your entry decision based on currency strength when you use this as indicator in your trading. The add with rule daily pips since open and daily change % since open can save your ass from problems you might not know to manage like retraces ,pullbacks,rejections.So if you base your entries into...
I want to thank you this clear explanation. But let me ask you, in the CAD example rule 4 is met and we can't get EURCAD trade because it's risky because (daily pips limit done), but what about USDCAD. In agreement with rule 4 I think we could get a USDCAD sell trade. What do you think?


thank you, your help is really usefull
TONI
  • #1,394
  • Jan 17, 2018 1:23pm Jan 17, 2018 1:23pm
Dash Fibo V1
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  • #1,395
  • Jan 17, 2018 1:33pm Jan 17, 2018 1:33pm
How about you tell us your secrets and don't just post pictures of your profits every day?
Anything above the line is an uptrend, below the line is a downtrend.
  • #1,396
  • Edited 2:12pm Jan 17, 2018 1:40pm | Edited 2:12pm
Quoting forexdaist
{quote} I want to thank you this clear explanation. But let me ask you, in the CAD example rule 4 is met and we can't get EURCAD trade because it's risky because (daily pips limit done), but what about USDCAD. In agreement with rule 4 I think we could get a USDCAD sell trade. What do you think? thank you, your help is really usefull TONI
i was playing with this only based on
pips since open
change % since open
and D1 strength.
so when we use min 70 for strong currency and min 30 for weak we buy strong against weak while have strength and impulse.
respecting strict min for strong min for weak + pip+ change is clear on the way you will lose some very possible trades very good.but what you want ? to rely on the best impulsive realtion between strong and weak to enter fast exit fast? or you want enter in some trades who will put you in situation to lose all your day at charts waiting?
i play with this many times without any indicators but reversed cos in manual i trade only after big strong moves retracements when movement show exhaution .always i get green because i trade few pairs 2 max 3 i can watch very very close and few trades/week.
here the rules are different from what i trade but are good cos i was playing nice many times.
try be decent in profit targets and you will squeeze money from market.i usual lock profits at 20 pips and start trail from there.

i was not too post in this forum since few here really dissapointed me but i see many just have confusion about VERY simple rules not well enough explained maybe language barrier also some playing secret,and i thought worth to post to try at least make things a bit more clear.
cheers

Quoting Degolep
How about you tell us your secrets and don't just post pictures of your profits every day?
the secret is simple.losing bad trades will never be posted.
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Take what you can, give nothing back
  • #1,397
  • Jan 17, 2018 2:42pm Jan 17, 2018 2:42pm
JPY Moved More than daily average. It's time to return. The market is going to deceive. The show is still bullish. If the London market. It was going to continue ascending. But in the US market is the opposite.
This is not a secret. This is the recognition of market behavior. And there is a need for 1 - system selection (all systems are good, all systems have weaknesses) 2 - no change system 3 - practice and practice. 4 - Trust System
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  • #1,398
  • Jan 17, 2018 3:55pm Jan 17, 2018 3:55pm
Quoting wittybiz
{quote} See Image for some explanations. Thanks
thanks
  • #1,399
  • Edited 5:05pm Jan 17, 2018 4:27pm | Edited 5:05pm
Quoting ahhamidz
JPY Moved More than daily average. It's time to return. The market is going to deceive. The show is still bullish. If the London market. It was going to continue ascending. But in the US market is the opposite. This is not a secret. This is the recognition of market behavior. And there is a need for 1 - system selection (all systems are good, all systems have weaknesses) 2 - no change system 3 - practice and practice. 4 - Trust System {image} {image} {image}
Ok thank you.

You ever trade against the rules? 10-25 pips, 0.1-0.25% ?
Do this reversals like todays happen every day? In London session NZD, AUD were strong, Now they are weakening very much.
Simply said: When one currency loses its power it leaves the place for the other currency? (I've read about that on this forum I think in this thread)

What is this indicator?
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Anything above the line is an uptrend, below the line is a downtrend.
  • #1,400
  • Jan 17, 2018 5:29pm Jan 17, 2018 5:29pm
Dashboard Currency meter V1
Trades taken AUTO at 08:30GMT
Still in the trade

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Don't Buy after a Rally, Don't Sell after a Drop
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