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(binned per thread starter's request) Currency Strength with cont

  • #501
  • May 23, 2018 7:51am May 23, 2018 7:51am
Quoting neilgroom
Current heat map.. I hope you where all on the JPY last night/this morning. Hitting major resistance now. Funny how I said don't trade in the Asian session and the JPY takes off into orbit. My spread on the NZD/JPY was very low considering. {image}
All nighter for Mr. Groom last night...haha. That's how you make the big bucks!
  • #502
  • May 23, 2018 7:55am May 23, 2018 7:55am
Quoting bojack34
{quote} All nighter for Mr. Groom last night...haha. That's how you make the big bucks!
As we spoke on PM it was all thanks to my cat keeping me awake.. I was in the right place at the right time.
The graph does show average high volume at that time though.. Got no data for NZD/JPY but just USD/JPY

EDIT: That's GMT so add an hour as we are in UST now
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpyvolume.png Size: 117 KB
The most violent element in society is IGNORANCE
  • #503
  • May 23, 2018 8:04am May 23, 2018 8:04am
Quoting neilgroom
{quote} As we spoke on PM it was all thanks to my cat keeping me awake.. I was in the right place at the right time. The graph does show average high volume at that time though.. Got no data for NZD/JPY but just USD/JPY EDIT: That's GMT so add an hour as we are in UST now {image}
You better get your cat something nice now. Maybe let it inside the house tonight at least. Buy it some cat nip.
  • #504
  • May 23, 2018 8:08am May 23, 2018 8:08am
Quoting bojack34
{quote} You better get your cat something nice now. Maybe let it inside the house tonight at least. Buy it some cat nip.
He is on my lap now.. Good boy, good boy lol.. Trouble is I seriously need a long nap now.. I'll be in touch later if you're free.. How did the game go last night?
The most violent element in society is IGNORANCE
  • #505
  • May 23, 2018 8:11am May 23, 2018 8:11am
Quoting neilgroom
{quote} He is on my lap now.. Good boy, good boy lol.. Trouble is I seriously need a long nap now.. I'll be in touch later if you're free.. How did the game go last night?
It went GREAT! Thanks for asking. Get some rest, talk to you later. If your wife gets mad just blame it on me! LOL
  • #506
  • May 23, 2018 8:15am May 23, 2018 8:15am
My two contrarian trades this week were USDJPY and USDCHF. USDJPY is the only one that met ALL requirements. It made me 50+ pips on Monday but then it went straight down. As long as I kept a Trailing stop on it or just moved my SL to BE I would have been totally ok. But if you just let the trade run, it would have been a bad outcome so far. Locking in profit is next on the list as far as creating some rules to my strategy. I think I"m going to use ADR some how for reference as to "when" to take profit.

Using the RSI in the way you explained kept me out of the USDCHF trade all together. That saved me a bunch of $$ by doing so.
  • #507
  • May 23, 2018 10:59am May 23, 2018 10:59am
Quoting mrdfx
Awesomeness, I'm in!
hi can you help me? i read some post of this thread and i understood some part of this method.
Open myfxbook site e go in community outlook search pairs with long or short 70% or higher and 5000 or much volume and open daily chart in my mt4 and open a trade contrarian but, when i can open the trade? can you explain all the steps I read in your posts that you earned a lot of pips.

thanks in advance
  • #508
  • May 23, 2018 12:45pm May 23, 2018 12:45pm
Quoting bojack34
My two contrarian trades this week were USDJPY and USDCHF. USDJPY is the only one that met ALL requirements. It made me 50+ pips on Monday but then it went straight down. As long as I kept a Trailing stop on it or just moved my SL to BE I would have been totally ok. But if you just let the trade run, it would have been a bad outcome so far. Locking in profit is next on the list as far as creating some rules to my strategy. I think I"m going to use ADR some how for reference as to "when" to take profit. Using the RSI in the way you explained kept...
I think what will be best is a news filter. Was there any red news to come in the Asian session last night? I never look most of the time.

Source: https://www.fxstreet.com/news/forex-today-risk-off-grips-asia-yen-outperforms-eurozone-flash-pmis-uk-inflation-up-next-201805230441

A renewed risk-aversion wave gripped the markets across Asia this Wednesday, with Trump displeased with the China trade talks and also uncertain about the June Summit with North Korea. As a result, the safe-havens jumped into demand at the expense of the anti-risk assets such as oil, equities and Treasury yields.
On the fx front, the Yen emerged the clear winner amid risk-off markets that sent the Yen crosses sharply lower while both the Antipodeans were broadly dumped. The Kiwi slumped below the 0.69 handle, as markets digested RBNZ’s dovish comments, floating negative cash rates. Its OZ neighbor, the AUD, slipped to test the 0.7530 levels on weaker construction output data, as risk-off continued to undermine.
The most violent element in society is IGNORANCE
  • #509
  • Edited 2:31pm May 23, 2018 12:48pm | Edited 2:31pm
Quoting Denondj87
{quote} hi can you help me? i read some post of this thread and i understood some part of this method. Open myfxbook site e go in community outlook search pairs with long or short 70% or higher and 5000 or much volume and open daily chart in my mt4 and open a trade contrarian but, when i can open the trade? can you explain all the steps I read in your posts that you earned a lot of pips. thanks in advance
What is it you need to know. How to trade? How to open Trades?

If so it is best to learn forex from scratch my friend. Start from the beginning. A course. Look up some youtube videos on how to trade and open trades. Learn to use metatrader4 - We all start there.

Sorry can't help more.

P.S Because I had to mega nap after staying up all night.. Use tradingview charts to get the data (Rsi2 etc.) and open/close trades in MT4 if that is what you use.
The most violent element in society is IGNORANCE
  • #510
  • May 23, 2018 3:44pm May 23, 2018 3:44pm
Quoting neilgroom
{quote} What is it you need to know. How to trade? How to open Trades? If so it is best to learn forex from scratch my friend. Start from the beginning. A course. Look up some youtube videos on how to trade and open trades. Learn to use metatrader4 - We all start there. Sorry can't help more. P.S Because I had to mega nap after staying up all night.. Use tradingview charts to get the data (Rsi2 etc.) and open/close trades in MT4 if that is what you use.
hello thanks for the answer maybe I expressed myself badly before but I meant how and when to open a position based on your strategy for example I go on myfxbook and on scorpionfx then I choose for example eurusd 78% long volume 10000 and 21% short volume 5000 after I open eurusd on mi mt4 in the daily quinid graph I open a short position at the break of the last support / resistance? this I would like to understand when to open the position once seen the numbers on myfxbook?


thanks in advance
  • #511
  • May 23, 2018 4:01pm May 23, 2018 4:01pm
Quoting Denondj87
{quote} hello thanks for the answer maybe I expressed myself badly before but I meant how and when to open a position based on your strategy for example I go on myfxbook and on scorpionfx then I choose for example eurusd 78% long volume 10000 and 21% short volume 5000 after I open eurusd on mi mt4 in the daily quinid graph I open a short position at the break of the last support / resistance? this I would like to understand when to open the position once seen the numbers on myfxbook? thanks in advance
It's been proven that it works best at the beginning of the week. So open the trade on a Sunday night/Monday morning depending on your timezone.

Nice work mentioning the last support / resistance. I would post some more but had no sleep last night and my brain isn't functioning.

On Sunday this week I will post the Contrarian pairs to use and which ones to open for you.
The most violent element in society is IGNORANCE
  • #512
  • May 23, 2018 7:11pm May 23, 2018 7:11pm
Get on the JPY the money flow is going crazy again. Don't miss it. Takes me ages to post sorry
Attached Image
The most violent element in society is IGNORANCE
  • #513
  • May 23, 2018 7:15pm May 23, 2018 7:15pm
Quoting neilgroom
Get on the JPY the money flow is going crazy again. Don't miss it. Takes me ages to post sorry {image}
Money flowing to the safe haven currencies? Mainly JPY.
  • #514
  • May 23, 2018 7:20pm May 23, 2018 7:20pm
Quoting bojack34
{quote} Money flowing to the safe haven currencies? Mainly JPY.
Mega money flowing from the NZD..
The most violent element in society is IGNORANCE
  • #515
  • May 23, 2018 7:29pm May 23, 2018 7:29pm
Slowing down down. Going sleep. Feel like a zombie. Might happen again so keep watching the JPY.
The most violent element in society is IGNORANCE
  • #516
  • May 23, 2018 7:31pm May 23, 2018 7:31pm
Quoting neilgroom
Slowing down down. Going sleep. Feel like a zombie. Might happen again so keep watching the JPY.
I would watch that money flow indicator but it's a PAID indicator........too bad it's not a freebie on FF...lol.
  • #517
  • May 23, 2018 7:35pm May 23, 2018 7:35pm
CAD to JPY now. There all going into the JPY lately.. It's Safe

Notice to all demo users.. It took me 5 seconds to sell the GBP/JPY on a real account and that's a ECN account.. On a demo it's instant. If no one is buying the GBP and major money is going into the JPY it hard to get in instantly.

Real is so different to a demo. Just a warning
The most violent element in society is IGNORANCE
  • #518
  • May 23, 2018 9:23pm May 23, 2018 9:23pm
Hi Neil,

Can you provide the link to the graph? Would like to check on other pairs for my own homework. =D

Thanks heaps

Quoting neilgroom
{quote} As we spoke on PM it was all thanks to my cat keeping me awake.. I was in the right place at the right time. The graph does show average high volume at that time though.. Got no data for NZD/JPY but just USD/JPY EDIT: That's GMT so add an hour as we are in UST now {image}
Full Time Funded Trader. Occasionally drop by FF. Expect a delay in reply.
  • #519
  • May 23, 2018 11:04pm May 23, 2018 11:04pm
As I am not a full time trader and don’t want to stick to the chair to monitor the market for my leisure day (trying as sometime addicted to trading), I have tried to build an ea to cater the purpose. As I am not a programmer and have very little knowledge in mql4 coding, I have used a paid service (web-based) to help build the ea. And as the choices there cannot fully match with the need, the ea can only be semi-auto. So the logic of the ea is as below:

Open Limit Buy Order when:
{C}1) Myfxbook short position is over 70% and combined long/ short volume over 3000 (not automated in the ea as said I am an idiot in programming, need to watch by yourself and select in the ea for Long Only or Short Only, never Both)
{C}2) H4 or D1 RSI-2 HLC/3 crossed above 30 for the previous candle & candle(1) close is higher than candle (2) close & candle (1) is a bullish candle (this type of trade is an in-trend pull back trade)
{C}3) H4 or D1 RSI-2 HLC/3 crossed above 70 for the previous candle & candle(1) close is higher than candle (2) close & candle (1) is a bullish candle (this type of trade is an in-trend break out trade)
{C}4) The ea open a limit buy at the candle (1) close minus candle (1) body range x factor (set at 0.3 and can be changed by user)
{C}5) SL at 0.8 5 period D1 ATR (adjustable); SL at 1.2 D1 ATR (adjustable); Breakeven and trailing at 60 pips profit with a step of 10 pips (adjustable)
{C}6) For breakout trade, the position size is only half of pull back trade (adjustable) as I think breakout trade is more vulnerable to bounce back and higher risk
{C}7) All pending order will be expired after 24 hours.

Open Limit Sell Order when:
{C}8) Myfxbook short position is over 70% and combined long/ short volume over 3000 (not automated in the ea as said I am an idiot in programming, need to watch by yourself and select in the ea for Long Only or Short Only, never Both)
{C}9) H4 or D1 RSI-2 HLC/3 crossed below 70 for the previous candle & candle(1) close is lower than candle (2) close & candle (1) is a bearish candle (this type of trade is an in-trend pull back trade)
{C}10) H4 or D1 RSI-2 HLC/3 crossed below 30 for the previous candle & candle(1) close is lower than candle (2) close & candle (1) is a bearish candle (this type of trade is an in-trend break out trade)
{C}11) The ea open a limit buy at the candle (1) close plus candle (1) body range x factor (set at 0.3 and can be changed by user)
{C}12) SL at 0.8 5 period D1 ATR (adjustable); SL at 1.2 D1 ATR (adjustable); Breakeven and trailing at 60 pips profit with a step of 10 pips (adjustable)
{C}13) For breakout trade, the position size is only half of pull back trade (adjustable) as I think breakout trade is more vulnerable to bounce back and higher risk
{C}14) All pending order will be expired after 24 hours.

As this strategy cannot be backtested because need to gauge the reading in myfxbook and may incur high risk, please forward test it by demo account.
Attached File(s)
File Type: ex4 Pull Back Breakout Trend Trader.ex4   43 KB | 319 downloads
  • #520
  • Edited 4:11am May 24, 2018 2:31am | Edited 4:11am
Quoting jasonckb
As I am not a full time trader and don’t want to stick to the chair to monitor the market for my leisure day (trying as sometime addicted to trading), I have tried to build an ea to cater the purpose. As I am not a programmer and have very little knowledge in mql4 coding, I have used a paid service (web-based) to help build the ea. And as the choices there cannot fully match with the need, the ea can only be semi-auto. So the logic of the ea is as below: Open Limit Buy Order when: {C}1) Myfxbook short position is over 70% and combined long/ short...
Hi jason

Thanks, that's very helpful indeed. I presume the RSI setting is for trading view platform not MT4 of course but thanks so much

EDIT
Looks like we might get a chance to try it out soon as a few pairs are in a pullback situation right now!
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