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DAX (GER30) - Trading System

  • #41
  • Aug 11, 2018 3:54am Aug 11, 2018 3:54am
Now for the pullback entry. Here is the purpose of stochastics. Sample below H1 keeps making a lower low. It's rare occassion. Sometimes you might get lucky.

And that's it. :-) Enjoy, let me know how it goes.
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  • #42
  • Aug 11, 2018 4:02am Aug 11, 2018 4:02am
More samples... Just measure the TP2 in these samples you can see almost every time there is some kind of reversal when it gets there. Works because this is a profit taking area.
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  • #43
  • Aug 11, 2018 6:41am Aug 11, 2018 6:41am
Quoting maflip
{quote} The custom candle stick is the hourly bar. We place that on M5 time frame. At the market open, after, one hour we measure the high and low of that hourly bar this is what you should do. We then wait for price to touch either side of the entry then we wait for M5 to close. We open a buy stop above that M5 candle and hopefully we hit Target 2 of the measured fib. You can have a bias taking only setup with the trend the NRATR_ATR_Stop indicator is that bias. You see it as green horizontal. BTW: do not trade this concept on forex it's a different...
Hi
Are you placing your stop at 50% level of the first hour bar?
At what levels of the fibo tool are your TP1 and TP2 and TP3 measured from top/bottom of the hour bar?
There is also a measured level on your fibo for the entry, do you enter at this level or above/below the closed 5 min bar?
Regards
  • #44
  • Aug 11, 2018 10:25am Aug 11, 2018 10:25am
here updated with indices strength meter
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  • #45
  • Edited 11:01pm Aug 12, 2018 5:52am | Edited 11:01pm
Quoting howard
{quote} Hi Are you placing your stop at 50% level of the first hour bar? At what levels of the fibo tool are your TP1 and TP2 and TP3 measured from top/bottom of the hour bar? There is also a measured level on your fibo for the entry, do you enter at this level or above/below the closed 5 min bar?
It's a trailing stop. Initial stop is at the other side of the candle. Then it trails by fractal. The entry is price confirmation, if M5 touches below/above the 1hour candle but not strong enough to hit price confirmation, it's invalid, then, wait for the m5 candle to close above/below H1 candle, then buy/sell stop below/above it. For better risk reward or if the 1 hour candle is huge use the retracement entry rule on M1. TP1 on my fib is 1.618 but I don't take profit there if DAX. Take profit at 2.00 and 2.618.

I think this chart explains everything.

Don't blindly place pending buy/sell stop orders if you do that hit rate is only a little higher than 50%. Wait for candle close and a second pass. And if the 1 hour candle is huge don't trade the breakout. Switch to M1 and use the retracement entry rule.

Copy my fib levels below.

EDIT: Pulled out my old EA. From January to this month win rate is 67% of hitting 1:1 of the H1 candle. However, profit is small due to stop loss is larger on the EA than TP. It does not have a trailing stop or it confirms at close of candle then second pass. I just did that to know the statistics. I don't use the EA to trade I just ran it to know the statistics. I'm not a coder so I can't improve it the way I want.
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  • #46
  • Aug 12, 2018 6:06am Aug 12, 2018 6:06am
I can smell someone making an EA hah hah. No need it's only one index. This same method can also work on US index. Actually, it's better if all indexes are moving the same direction. We call it market confirmation. If one of the index is moving the other way. Might be a good idea to stay away. We call it market divergence and things might zigzag before doing something.

Now I wonder if Brixen is reading this. He is an awesome DAX trader. Follow his trades https://www.forexfactory.com/brixen. He counter trends, a risky trader but most of the day he wins.
  • #47
  • Aug 12, 2018 6:09am Aug 12, 2018 6:09am
Quoting maflip
I can smell someone making an EA hah hah. No need it's only one index. This same method can also work on US index. Actually, it's better if all indexes are moving the same direction. We call it market confirmation. If one of the index is moving the other way. Might be a good idea to stay away. We call it market divergence and things might zigzag before doing something.
Your free indicators and free system will fetch millions on an EA .The EA is ready but the millions go to EA maker.

Just kidding , Your indicators are attractive looking.Do a semi manual EA , so Ea will wait for manual confirmation.

You can trade the Dow , it is smoother and better.
  • #48
  • Aug 12, 2018 6:55am Aug 12, 2018 6:55am
Quoting loozers
{quote} Your free indicators and free system will fetch millions on an EA .The EA is ready but the millions go to EA maker. Just kidding , Your indicators are attractive looking.Do a semi manual EA , so Ea will wait for manual confirmation. You can trade the Dow , it is smoother and better.
Hah hah i bet.
  • #49
  • Aug 12, 2018 8:14pm Aug 12, 2018 8:14pm
Quoting loozers
here updated with indices strength meter {file} {image}
Hi,

Thanks a lot.

I will take a look !
  • #50
  • Aug 13, 2018 2:24am Aug 13, 2018 2:24am
What's the current sentiment we got Two gaps to fill last Friday and Today. Unless the market crashes we go straight down. Ideas? Any gurus wanna fill me in?
  • #51
  • Aug 13, 2018 2:32am Aug 13, 2018 2:32am
Quoting maflip
What's the current sentiment we got Two gaps to fill last Friday and Today. Unless the market crashes we go straight down. Ideas? Any gurus wanna fill me in?

Only forum gurus know .I know nothing. They teach. I trade.

but my system won't allow any trades, so I lose less.

My system keep me out of this market , until market finds next move up.Now oversold.

Wait till it gives clear signal.
  • #52
  • Aug 13, 2018 2:36am Aug 13, 2018 2:36am
All I know is we are near the 700% fib extension that started the move down. We might be headed for a crash if we continue to go down here. There must be some kind of fight around this area. Looking for an up move now for some kind of retracement at least even if it will still continue down.. So far H1 touched price confirmation but it did not close above it. So still watching.
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  • #53
  • Aug 13, 2018 2:39am Aug 13, 2018 2:39am
monday is usually up day, now near choppy areas .
Patience is the sentiment

high probability fake move
  • #54
  • Aug 13, 2018 3:28am Aug 13, 2018 3:28am
Price may retrace to friday wall street close .Wait for a divergence to buy.
  • #55
  • Aug 13, 2018 4:08am Aug 13, 2018 4:08am
[quote=maflip;11359137]{quote} It's a trailing stop. Initial stop is at the other side of the candle. Then it trails by fractal. The entry is price confirmation, if M5 touches below/above the 1hour candle but not strong enough to hit price confirmation, it's invalid, then, wait for the m5 candle to close above/below H1 candle, then buy/sell stop below/above it.

Thank you for detailed explannation.
In the meantime 5 min has now confirmed.
Regards
  • #56
  • Aug 13, 2018 4:31am Aug 13, 2018 4:31am
[quote=howard;11361587]
Quoting maflip
{quote} It's a trailing stop. Initial stop is at the other side of the candle. Then it trails by fractal. The entry is price confirmation, if M5 touches below/above the 1hour candle but not strong enough to hit price confirmation, it's invalid, then, wait for the m5 candle to close above/below H1 candle, then buy/sell stop below/above it. Thank you for detailed explannation. In the meantime 5 min has now confirmed.
Yeap great, low volume enter at M1 retrace.
  • #57
  • Aug 13, 2018 4:35am Aug 13, 2018 4:35am
Proof correlations improve profitability

https://www.forexfactory.com/showthr...8#post11361458

https://www.forexfactory.com/showthr...8#post11359948

use the indicator for correlations. A good trader only needs 3 trades a week, lose 1 win 2 = 50 points a week profit.

remember , market will try to retest previous wall street closes, if they are fake moves down.
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  • #58
  • Aug 13, 2018 4:41am Aug 13, 2018 4:41am
Currently up 17 pips. Low volume at the break. Switched to M1 retrace entry. Thinking of moving stop to +5. A Slow day.
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  • #59
  • Aug 13, 2018 4:48am Aug 13, 2018 4:48am
Just got out. It's low volume today. But at M1 should have been able to scalp something for at least 15 pips.

Grab a bite, stretch and come back US session. Wait for volume to come in etc etc before trading. But better to quit and start again tomorrow.
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  • #60
  • Aug 13, 2018 4:51am Aug 13, 2018 4:51am
Compare todays volume to last Fridays volume. You know it's gonna be a shitty day from the start.
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