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LFX Trading Proverbs

  • #361
  • Apr 3, 2018 10:14am Apr 3, 2018 10:14am
Quoting jjibl
Hi drock You can share which average movings you use. Thank you July Bento
It's funny that you mentioned consistency is better than precision. I spend HOURS every day reading and seeing if I can improve my system. I don't change the fundamentals of it but am just trying to fine tune it. I really just enjoy the challenge of improving all the time. It's like a puzzle that can always be improved just a little bit. I find that improvements now come at a microscopic level because fundamentally I have the indicators, signals, and channels in place. I believe your system(s) have been fine tuned over time as well lol.

As far as my channels are concerned they are more for containment. Maybe it's psychological but I like price contained within varying channels of probability. Makes me feel safer somehow. Of course there are always unexpected moves from the market but for the most part it has a good functionality and price stays within them. Your equilibrium field is interesting. It's obviously an MA ribbon but what is the 3rd TF surrounding it ? Also can you explain more about how you use it to take trades ? Does price have to come into the blue field and then bounce of the ribbon (either top or bottom on a retrace) ?
Listen more than you speak and be constructive
  • #362
  • Edited 7:18pm Apr 3, 2018 11:33am | Edited 7:18pm
For consistency I studied charts, not other people. It was difficult to find business analysts that traded Forex, so I was pretty much been on my own. I ran ideas past my team to get feedback. We identified problems and worked to solve them. In nearly every case, that meant reinventing an indicator. I would find something close and then modify it to meet my design. Then back to analysis, validation, and feedback, lol. That loop continued for several years. It took so long because I kept flip-flopping between precision and consistency. When I finally made up my mind, it didn't take very long to design the final template because it was just a matter of settings. We already had the tools. One day I was reflecting on my early days when I was a stock options trader and remembered how larger orders needed less movement to make profit. That finally convinced me to trade by compounding instead of conquering. I set aside my over-achiever hat for more money with less work.

When I studied charts I looked for two things. One, where is my ideal entry on any range? Two, where is my ideal entry on any trend? Basically, how do I tell the entries apart from each other? Is it fundamental, technical, or timed? I cannot tell you my conclusions because it will depend on each persons' trading plan. A position trader, a scalper, a breakout trader, a trend trade, and a swing trader all have different criteria. I decided to be an intraday swing trader, so that is how I did mine. I needed more time between trades so I could trade more pairs. I take a really relaxed approach because it just isn't necessary to go crazy anymore, lol. Good Luck.
You cannot be extraordinary by being normal
  • #363
  • Apr 3, 2018 12:41pm Apr 3, 2018 12:41pm
Quoting dkrock
For consistency I studied charts, not other people. It was difficult to find business analysts that traded Forex, so I was pretty much been on my own. I ran ideas past my team to get feedback. We identified problems and worked to solve them. In nearly every case, that meant reinventing an indicator. I would find something close and then modify it to meet my design. Then back to analysis, validation, and feedback, lol. That loop continued for several years. It took so long because I kept flip-flopping between precision and consistency. When I finally...

I find this concept interesting. My biggest problem has been when to take profits. I use a stochastic customized (I know how you feel about stochastics lol, no need to mention it) and TDI custom indicator but they are both static and not dynamic so they always top out when trending and I have been trying to figure out a way to stay in the trend longer (hence regression channels) but this results in my indicators signaling for me to get out too early versus where the price is in relation to the median on the regression channels. I really do like your field surrounding the MA ribbon. I am visual and seeing when to get in, trade the pullback (rarely), and when to get out (I assume when it either crosses the MA ribbon opposite side or closes outside your blue field) makes a lot of sense to me. Can you let me know how to set up the field around the ribbon ? I can't seem to figure out how to do that.

I also agree that EVERYTHING is essentially a range if you go high enough on your TF. But trends none the less exist and as the saying goes, the trend is your friend and I usually trade in the direction price is currently going (size of candles, price action etc.)
Listen more than you speak and be constructive
  • #364
  • Edited 7:24pm Apr 3, 2018 1:02pm | Edited 7:24pm
Quoting carsten103
{quote} I find this concept interesting. My biggest problem has been when to take profits. I use a stochastic customized (I know how you feel about stochastics lol, no need to mention it) and TDI custom indicator but they are both static and not dynamic so they always top out when trending and I have been trying to figure out a way to stay in the trend longer (hence regression channels) but this results in my indicators signaling for me to get out too early versus where the price is in relation to the median on the regression channels. I really...
The purpose of using multiple time frames is to help identify entries and exits. Are you in a range or a trend? Use the signal that fits that condition. That means ideally, if you are comparing two times frames and you use two indicators, you need to duplicate each one so you can see both time frames at once.

I use indicators that confirm whether or not the candle design has any meaning. I trade sample sizes, not candle shapes, so any specific candle has to signal within the whole. As I stated in an earlier post, I fine them tune by blacking out candles and trading according to the indicators. That means I do not need candles to place trades. Part of the reason for that, other than gaining accuracy in my indicator signals, is because candles are the #1 method of manipulating traders to react emotionally. If I don't use a candle as signal, it cannot create panic or anxiety when the market makers start playing around with it. But mainly, one candle and its shape, does not dictate my trading decisions. It is a part of the whole.
You cannot be extraordinary by being normal
  • #365
  • Apr 3, 2018 1:28pm Apr 3, 2018 1:28pm
Quoting dkrock
{quote} The purpose of using multiple time frames is to help identify entries and exits. Are you in a range or a trend? Use the signal that fits that condition. That means ideally, if you are comparing two times frames and you use two indicators, you need to duplicate each one two times so you can see both time frames at once. To make the orange/red field, use a ribbon indicator and set the line width to 9. Making the blue one is a lot more difficult. You don't need it since you use regression channels and its design it seriously customized. Sorry....

I like knowing what "might" happen. I use regression channels to give me an idea of what might happen. I can always use another indicator that would show me probabilities using a different methodology. but I understand it's yours and you worked hard to create it. Can you at least give me an idea of how I could go about creating something like it ? I don't mind paying someone to code it for me. It's not another MA ribbon. Maybe a regression slope (high & low) ? Something like that ?
Listen more than you speak and be constructive
  • #366
  • Apr 3, 2018 1:31pm Apr 3, 2018 1:31pm
Quoting dkrock
{quote} The purpose of using multiple time frames is to help identify entries and exits. Are you in a range or a trend? Use the signal that fits that condition. That means ideally, if you are comparing two times frames and you use two indicators, you need to duplicate each one two times so you can see both time frames at once. To make the orange/red field, use a ribbon indicator and set the line width to 9. Making the blue one is a lot more difficult. You don't need it since you use regression channels and its design it seriously customized. Sorry....

I have my indicators and channels duplicated to show my 2 time frames. In your opinion is 2 enough ? You mentioned a 3rd tf. Is it necessary and does it add enough value to consider ?
Listen more than you speak and be constructive
  • #367
  • Edited 7:22pm Apr 3, 2018 1:38pm | Edited 7:22pm
Quoting carsten103
{quote} I have my indicators and channels duplicated to show my 2 time frames. In your opinion is 2 enough ? You mentioned a 3rd tf. Is it necessary and does it add enough value to consider ?
I only use two. The third provides me background to my moving average field and helps to show its pattern. LOL. Everything is a pattern. We tried 3 in the past but found that waiting on the third one for confirmation seriously depleted pips.
You cannot be extraordinary by being normal
  • #368
  • Apr 3, 2018 2:08pm Apr 3, 2018 2:08pm
Quoting dkrock
{quote} I only use two. The third provides me background to my moving average field and helps to show its pattern. LOL. Everything is a pattern. We tried 3 in the past but found that waiting on the third one for confirmation seriously depleted pips. As for your issue of burrowed indicators, you can use the next time frame to determine your exit. For me, I advanced it a little bit, if you want to call it that. I do not use TDI, but I use my own version that I invented before I knew what a TDI was. If it is ranging, then everything confirms to it....

Thank you, thank you, thank you. I just increased my settings on my indicators to mimic higher tf's and the range increased dramatically (slowed indi's down). I'll play around and see which settings work the best with semafor.
Listen more than you speak and be constructive
  • #369
  • Edited 3:56pm Apr 3, 2018 2:56pm | Edited 3:56pm
Quoting carsten103
{quote} Thank you, thank you, thank you. I just increased my settings on my indicators to mimic higher tf's and the range increased dramatically (slowed indi's down). I'll play around and see which settings work the best with semafor.
You are on your way now. Now that you understand the concept and how it draw the patterns, it is just a matter of tweaking it to your tastes. Welcome to Forex.
You cannot be extraordinary by being normal
  • #370
  • Apr 5, 2018 2:15am Apr 5, 2018 2:15am
I will repeat: R. Miner, Crucial, and dkrock, are the best traders I ´ve learned from in 15 years.
Thanks brother.
  • #371
  • Apr 5, 2018 2:20am Apr 5, 2018 2:20am
Please excuse me drock, if I just shortly change the subject of your thread, but it´s worth it!

Take your conciousness, connect it to your heart: profit is inner peace.
Below you can find the indies needed to trade this system:

https://www.timelesstoday.com/

btw: I´m such a trader for 40 years plus,and like to share with friends.
All the best.
  • #372
  • Edited 12:09pm Apr 5, 2018 11:57am | Edited 12:09pm
Quoting cuchuflito
I will repeat: R. Miner, Crucial, and dkrock, are the best traders I ´ve learned from in 15 years. Thanks brother.
Thanks, but I didn't do it alone. There were quite a few people involved, between testing and analyzing, general feedback, and writing code. Of course Divine Intervention was most prominent since God planted the trading seed in me to begin with. It was a team, a mastermind, so I cannot take the credit. I had a vision and pursued it. Anyone with a definiteness of purpose and a proper mental attitude can achieve the same thing in any field of endeavor. Have a good day and Good Luck.
You cannot be extraordinary by being normal
  • #373
  • Apr 17, 2018 1:27am Apr 17, 2018 1:27am
Hi DKrock
Finally dumped my stochastic rsi (took a lot), applied a 15 Jurik MA to the 30 min. chart as guidance.
Then went to the 5 minutes, applied a Macd, according to the settings you provide in the Lydia site.
(Added my own EW pattern, with fibos in price and time to give me a "feel".)
BINGO, it works.
Thanks again dkrock.
  • #374
  • Apr 22, 2018 7:38am Apr 22, 2018 7:38am
Quoting cuchuflito
Hi DKrock Finally dumped my stochastic rsi (took a lot), applied a 15 Jurik MA to the 30 min. chart as guidance. Then went to the 5 minutes, applied a Macd, according to the settings you provide in the Lydia site. (Added my own EW pattern, with fibos in price and time to give me a "feel".) BINGO, it works. Thanks again dkrock.
Nice to hear. Just realize nothing works all the time because there are some patterns designed to steal your money. You can only make money if the market is moving up and down within your signals and beyond your spread. If it isn't moving enough to make profit, it is not the fault of your system, or you, so keep that in mind.
You cannot be extraordinary by being normal
  • #375
  • Apr 22, 2018 3:42pm Apr 22, 2018 3:42pm
Quoting cuchuflito
Please excuse me drock, if I just shortly change the subject of your thread, but it´s worth it! Take your conciousness, connect it to your heart: profit is inner peace. Below you can find the indies needed to trade this system: https://www.timelesstoday.com/ btw: I´m such a trader for 40 years plus,and like to share with friends. All the best.
what is that website about? are you selling something here?
  • #376
  • May 16, 2018 1:34am May 16, 2018 1:34am
Quoting alphadude
{quote} what is that website about? are you selling something here?
Selling something??????????????
Did you have a look at that homepage....I was just sincerely sharing something good....nothing to do with selling.

I do sell though, removal services (houses and appartments), in Munich, my home town...if you need any help, just contact me. (joking, got enough clients brother).
  • #377
  • May 16, 2018 2:53am May 16, 2018 2:53am
Quoting cuchuflito
{quote} Selling something?????????????? Did you have a look at that homepage....I was just sincerely sharing something good....nothing to do with selling. I do sell though, removal services (houses and appartments), in Munich, my home town...if you need any help, just contact me. (joking, got enough clients brother).
I got something to remove; bad strategies, and bad ideas
  • #378
  • May 16, 2018 8:25am May 16, 2018 8:25am
Quoting alphadude
{quote} I got something to remove; bad strategies, and bad ideas
At least you know they are bad. Puts you ahead of most people
You cannot be extraordinary by being normal
  • #379
  • May 27, 2018 1:15pm May 27, 2018 1:15pm
Inserted Video
You cannot be extraordinary by being normal
  • #380
  • Jul 14, 2018 4:44am Jul 14, 2018 4:44am
Hi dk,

Thanks for creating a wonderful thread here.

I've followed some of your advice and managed to create satisfactory base for the first indicator.

However, I'm struggling to find a second indicator/way that confirms the signals provided by the first. Would you be able to provide any tips or suggestions to get me in the right direction, please?

Wishing you a nice weekend
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