{quote} it looks awesome.
Similar to the way you do your analysis.
Technical + Fundamental.
Masterrmind..............
Master your Mind then Master your Trades
- #2,681
- Nov 2, 2018 5:45pm Nov 2, 2018 5:45pm
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
Similar to the way you do your analysis.
Technical + Fundamental.
Masterrmind..............
- #2,682
- Nov 2, 2018 5:48pm Nov 2, 2018 5:48pm
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
{quote} What a masterpiece Masremind! I wonder if you can add perfered currency pairs as an option? Thankyou for all you do Jeff
Masterrmind..............
Master your Mind then Master your Trades
- #2,683
- Nov 3, 2018 9:26am Nov 3, 2018 9:26am
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
The trading account according to myfxbook analytics is currently compounding at a monthly rate of 3.67%.
Now 3.67% compounded may not seam like all that much but to consistently compound every month, well thats simply a very powerful process.
Some of you may have noticed at the beginning of Post 1 a section covering 10 years with yearly gains and DD in gray font.
There is a reason why it has been posted there and not surprisingly not a single trader has ever asked about it.
Every trader should have a plan or several plans actually covering short term, medium term and the longer term.
The 10 year plan is there to provide motivation not only to me but also to other traders who are keen to trade over the longer term.
The motivation is to turn 1K into 1 Million on a transparent trading account so other traders can also learn from the 'roller coaster' ride.
Compounding monthly at just under 6% for a 10 year term starting from as little as 1K is all it takes.
Always develop a plan so you know where you are headed otherwise you might as well be trading blind folded.
Imagine what happens if you make regular deposits into the trading account and compound this as well.
Good trading,
Masterrmind..............
Now 3.67% compounded may not seam like all that much but to consistently compound every month, well thats simply a very powerful process.
Some of you may have noticed at the beginning of Post 1 a section covering 10 years with yearly gains and DD in gray font.
There is a reason why it has been posted there and not surprisingly not a single trader has ever asked about it.
Every trader should have a plan or several plans actually covering short term, medium term and the longer term.
The 10 year plan is there to provide motivation not only to me but also to other traders who are keen to trade over the longer term.
The motivation is to turn 1K into 1 Million on a transparent trading account so other traders can also learn from the 'roller coaster' ride.
Compounding monthly at just under 6% for a 10 year term starting from as little as 1K is all it takes.
Always develop a plan so you know where you are headed otherwise you might as well be trading blind folded.
Imagine what happens if you make regular deposits into the trading account and compound this as well.
Good trading,
Masterrmind..............
Master your Mind then Master your Trades
- #2,685
- Nov 3, 2018 2:50pm Nov 3, 2018 2:50pm
- Joined Sep 2018 | Status: Complete acceptance of probability | 306 Posts
{quote} Its main purpose is simply to identify possible D1 setups and then its the responsibility of the trader to follow through with all the additional analysis. Similar to the way you do your analysis. Technical + Fundamental. Masterrmind..............
Forex - It's finger lickin' good
- #2,686
- Nov 3, 2018 2:51pm Nov 3, 2018 2:51pm
- Joined Sep 2018 | Status: Complete acceptance of probability | 306 Posts
The trading account according to myfxbook analytics is currently compounding at a monthly rate of 3.67%. Now 3.67% compounded may not seam like all that much but to consistently compound every month, well thats simply a very powerful process. Some of you may have noticed at the beginning of Post 1 a section covering 10 years with yearly gains and DD in gray font. There is a reason why it has been posted there and not surprisingly not a single trader has ever asked about it. Every trader should have a plan or several plans actually covering short...
with plenty of things to learn along.
Forex - It's finger lickin' good
- #2,687
- Nov 3, 2018 10:01pm Nov 3, 2018 10:01pm
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
{quote} Masterrmind I know I've asked this before but I still don't understand how is the trend calculated by the indicator? It's a moving average above/under it? Or any other trading trick? If it's ok with you and you think that it would help with trading, could you please share the method for seeing trends? It would help a lot in exit points at least?
'Trend' is currently calculated in the Dash as follows:
LTrend UP = Current Price on [M1, M5, M15] > Open Price on [M1, M5, M15] respectively
L Trend DN = Current Price on [M1, M5, M15] < Open Price on [M1, M5, M15] respectively
M Trend UP = Current Price on [M30, H1, H4] > Open Price on [M30, H1, H4] respectively
M Trend DN = Current Price on [M30, H1, H4] < Open Price on [M30, H1, H4] respectively
H Trend UP = Current Price on [D1, W1, MN1] > Open Price on [D1, W1, MN1] respectively
H Trend DN = Current Price on [D1, W1, MN1] < Open Price on [D1, W1, MN1] respectively
Very simplistic approach which uses 3 TF's all in agreement to generate an arrow (UP, DN or nothing).
At no time should it be used as a standalone signal to make an entry into the market.
The 'Trend' directions shown by simple arrows should only be used to guage the current intent of the market and certainly not any future prediction.
They may be used for an entry where some minimal form of additional confluence is sought.
Basically, the 'Trend' only shows a snapshot of the market and is highly time dependant.
It is likely that I will alter the 'Trend' code and apply a more sophisticated algorithm in future Dash releases.
Be warned though that any future algorithm that I code into the Dash is done so with my own level of discretion.
A highly confluent case for entry should be applied based on the concepts shown in Post 1 of this thread.
Masterrmind.............
Master your Mind then Master your Trades
- #2,689
- Nov 5, 2018 4:30am Nov 5, 2018 4:30am
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
Scanning for Opportunities
The Quad Candle Dashboard v1.01 will be uploaded hopefully a little later today to Post 1 along with some information about its use and a collection of ready made templates.
Good trading,
Masterrmind..............
The Quad Candle Dashboard v1.01 will be uploaded hopefully a little later today to Post 1 along with some information about its use and a collection of ready made templates.
Good trading,
Masterrmind..............
Master your Mind then Master your Trades
- #2,690
- Nov 5, 2018 8:56am Nov 5, 2018 8:56am
Scanning for Opportunities {image} The Quad Candle Dashboard v1.01 will be uploaded hopefully a little later today to Post 1 along with some information about its use and a collection of ready made templates. Good trading, Masterrmind..............
- #2,691
- Nov 5, 2018 9:17am Nov 5, 2018 9:17am
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
{quote} Thanks, I will try it ! :-)
Mostly we trade on the D1 TF here.
However, I also add in some lower TF 'short term' cycles of trades such as on the M15 chart.
As the Equity grows I will add in more of the shorter term LTF cycles but since I started this journey with only 1K it means that adding in several cycles at once is not sensible due mainly to lower balance and therefore lower margin.
As the months roll on this situation will change provided the market is generous.
I suggest a demo initially to get familiar with the setups and then when you feel you are ready and well prepared you can try it live.
Completely up to you and if you have questions please ask away.
ps. Some real examples of setups should unfold over the next few days as I would like to get into my next cycle sooner rather than later.
Masterrmind..............
Master your Mind then Master your Trades
- #2,692
- Nov 5, 2018 9:34am Nov 5, 2018 9:34am
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
NZDJPY [D1::64]
Short ??
Monitoring only at this stage.
Time for rest now.
Good trading to all,
Masterrmind...............
Short ??
Monitoring only at this stage.
Time for rest now.
Good trading to all,
Masterrmind...............
Master your Mind then Master your Trades
- #2,693
- Nov 5, 2018 9:41am Nov 5, 2018 9:41am
- Joined Sep 2018 | Status: Complete acceptance of probability | 306 Posts
Scanning for Opportunities {image} The Quad Candle Dashboard v1.01 will be uploaded hopefully a little later today to Post 1 along with some information about its use and a collection of ready made templates. Good trading, Masterrmind..............
Forex - It's finger lickin' good
- #2,695
- Edited 11:11am Nov 5, 2018 9:54am | Edited 11:11am
- Joined Sep 2018 | Status: Complete acceptance of probability | 306 Posts
NZDJPY [D1::64] Short ?? {image} Monitoring only at this stage. Time for rest now. Good trading to all, Masterrmind...............
Daily
1) We're in a range, sitting at the top of it and there seems to be some steam for the bulls.
2) It's interesting that price made higher highs in that range but I don't know if it counts for something?
Weekly
3) There is a downtrend but we're sitting just below it and it's not sure it'll hold
4) The range is visible in the weekly chart as well
Monthly
5) On the monthly chart, we have a range with an inside bar?
6) The same about the trendline, price sits just below it pushing it
7) Didn't leave on the chart as it wasn't clear to see due to many lines but the price is between the 50 and 61.8 Fib of the big swing that make the range area
Some price action would be nice to confirm testing of trendline is over and it's time to continue especially since the price is sitting in an extreme MML area.
Forex - It's finger lickin' good
- #2,697
- Nov 5, 2018 6:58pm Nov 5, 2018 6:58pm
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
{quote} The MML indicator advises when the price resides in the 0/8 - -2/8 and the 8/8 - +2/8 area or just in the -1/8 - -2/8 and +1/8 - +2/8 area?
If current price within -2/8 MML to 0/8 MML --> MML Long signal generated.
Masterrmind...............
Master your Mind then Master your Trades
- #2,698
- Nov 5, 2018 7:15pm Nov 5, 2018 7:15pm
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
Version 1.02 has been uploaded to Post 1.
Current version is shown on the Dash itself (in the title) and also in the "About" and "Input" tabs of the indicator.
v1.02 --> Fixed an issue with the generation of the QM_Signal.
Masterrmind..............
Current version is shown on the Dash itself (in the title) and also in the "About" and "Input" tabs of the indicator.
v1.02 --> Fixed an issue with the generation of the QM_Signal.
Masterrmind..............
Master your Mind then Master your Trades
- #2,699
- Nov 5, 2018 7:24pm Nov 5, 2018 7:24pm
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
QC Dash identifies the following potential setups:
1. AUDJPY --> MML SHORT
2. CADCHF --> QUAD LONG
3. EURGBP --> QUAD LONG / MML LONG / QM LONG
4. NZDJPY --> MML SHORT
5. USDJPY --> QUAD LONG
6. XBRUSD --> MML LONG
What next ?
Masterrmind..............
1. AUDJPY --> MML SHORT
2. CADCHF --> QUAD LONG
3. EURGBP --> QUAD LONG / MML LONG / QM LONG
4. NZDJPY --> MML SHORT
5. USDJPY --> QUAD LONG
6. XBRUSD --> MML LONG
What next ?
Masterrmind..............
Master your Mind then Master your Trades
- #2,700
- Nov 5, 2018 10:48pm Nov 5, 2018 10:48pm
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
{quote} Soon! I hope so.... {image}
Certainly some hesitation being shown by the bulls to drive price higher at this stage.
But is it enough to start a short setup on this pair ?
Are the bulls simply regrouping and waiting for their next charge ?
Lets go back to Nov 1
What was the reason for this move and is there still enough reason floating around now to indicate a continued move up ?
Check the economic data and the fundamentals.
Think about the reasons for the flow of the big money, think about the flow of money in the market from safe havens into risk assets.
Then you'll start to formulate a possible reason for that move.
Is the bullish move still there or is it over ?
Extended thought process:
If we go short but price decides to consolidate for several days happily ranging between lets say the 75 and 76 handles.
How might this PA affect us ?
Is it worth worrying about ?
Masterrmind............
Master your Mind then Master your Trades