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MADdash (Moving Average Distance)

  • #2,261
  • Nov 14, 2018 1:20pm Nov 14, 2018 1:20pm
Quoting salimc
{quote} Thank you for your prompt reply. Ps, see the picture. I have highlighted the portions which I guess is important when taking help from MDash. Moreover, there is an alert function which will make things easy. Ps comment if I am correct in this point. {image}
Yes looking good brother but from my experience, that alert sometimes comes too late. I want to start considering a trade the moment price gets within some few pips of the MA Channel. And there are many ways to skin a cat - I can use the MADDY or use the original indicator from where the MADdash idea was birthed.
Attached Image (click to enlarge)
Click to Enlarge Name: Ibuks MA Dashboard.gif Size: 32 KB

The Ibuks dashboard or Bread n Butter Dashboard (as called on FF) will alert you when price is within 20 pips (default) of your preferred MA). I don't use the alert but set the dashboard in a way that when price is within 11 pips of my MA, the number will be bold and change color and the MADdash will help me arrange them in order of strongest and weakest. GBPJPY was the best pair to trade but has been all over the chart and I manage to scalp 27 pips before leaving it alone.
Attached Image (click to enlarge)
Click to Enlarge Name: GJ Trades1 - 11142018.gif Size: 48 KB
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  • #2,262
  • Nov 14, 2018 4:03pm Nov 14, 2018 4:03pm
Quoting 919gilead
{quote} No not all my trades are with the trend, as I also trade from exhaustion points but would not mentioned that here, so I don't confuse newbies. The dashboard is only used to time my entry although it does give a bird's eye view of what is happening and would only use it if my chart setup is in agreement. NB: See the CADCHF trade I posted below (post 2259) - the current trade was taken against the trend

hi
thanks my friend that why a was asking cause did see you did take the trade against the trend
many thanks
  • #2,263
  • Nov 15, 2018 12:01am Nov 15, 2018 12:01am
Quoting 919gilead
{quote} Yes looking good brother but from my experience, that alert sometimes comes too late. I want to start considering a trade the moment price gets within some few pips of the MA Channel. And there are many ways to skin a cat - I can use the MADDY or use the original indicator from where the MADdash idea was birthed. {image} The Ibuks dashboard or Bread n Butter Dashboard (as called on FF) will alert you when price is within 20 pips (default) of your preferred MA). I don't use...
Hi brother,
First I must apologize for this long letter.
I have met many traders mostly advocating for trading with the daily chart (which takes weeks to close a trade). You are the first successful trader I have met who are trading successfully with a 5 min. chart. Fantastic! Anyway, I have a few questions for you and I will be more than happy if you can answer them one by one.
1. Do you trade 3 sessions? Or first 2 hours of each session?
2. Do you trade the Asian session? If yes, which pairs?
3. Do have your favorite pairs or you select a pair according to the merit of the setup?
4. To trade a 5-minute chart you need to be in front of your PC and monitor each setup constantly, isn't it?
5. I know that CSM has an edge (it understands changing the strength/weakness of a single currency before any indicator can do that). But I have observed that when the strength or weakness of a currency is detected (it is late) as it has already reached the support or resistance level and hence no trading opportunity left. That's the problem!
7. Is there any way to know in advance which currency is going to be stronger or weaker when they immediately start to move? If that can be detected there can be a chance to trade with a short time frame.
I am sure that I have already bored you so much that I have to stop now. Anyway, thank you so much for your patience.
Regards,
Salim
  • #2,264
  • Nov 15, 2018 12:11am Nov 15, 2018 12:11am
Quoting salimc
{quote} Hi brother, First I must apologize for this long letter. I have met many traders mostly advocating for trading with the daily chart (which takes weeks to close a trade). You are the first successful trader I have met who are trading successfully with a 5 min. chart. Fantastic! Anyway, I have a few questions for you and I will be more than happy if you can answer them one by one. 1. Do you trade 3 sessions? Or first 2 hours of each session? 2. Do you trade the Asian session? If yes, which pairs? 3. Do have your favorite pairs or you select...
You Have sent me his dashboard picture with M5 highlighted with the yellow line. Is there any significance for me for this line?
Thanks.
Attached Image
  • #2,265
  • Nov 15, 2018 1:58am Nov 15, 2018 1:58am
Quoting salimc
{quote} Hi brother, First I must apologize for this long letter. I have met many traders mostly advocating for trading with the daily chart (which takes weeks to close a trade). You are the first successful trader I have met who are trading successfully with a 5 min. chart. Fantastic! Anyway, I have a few questions for you and I will be more than happy if you can answer them one by one. 1. Do you trade 3 sessions? Or first 2 hours of each session? 2. Do you trade the Asian session? If yes, which pairs? 3. Do have your favorite pairs or you select...
Hi Salimc,

Thank you for your kind words and would respond to your questions as follows:

  1. Yes I do trade the 3 sessions and it depends on the setup. Asian opens around 4 pm my time while London starts around midnight. US is around 5 am my time. I trade any of them if there is a setup with CSM/MADdash confirmation.
  2. Yes I trade the Asian session as I mentioned trading the 3 sessions above. I don't have preferred pairs as it is the setup and confirmation that determines my trades. Generally, my default chart is GBPJPY as my favorite because of its ADR.
  3. Answered in 2.
  4. Yes trading off the M5 means sitting in front of my computer when trading but if no setup, I do other things and just intermittently check the charts and dashboard.
  5. Trading strength and weakness comes with its challenges but it it is not insurmountable, and depends on how you use your edge. It will seem true that most signals come late but late to do what??? The MADdash is based on lagging indicator and you have to find a way to turn the lagging indicator into a leading indicator. Traders are not seeing the edge in the CSM or MADdash because they do not understand how to use and have not bothered to read how it is used. Please read post 4 again and focus on how a lagging indicator can be turned into a leading indicator. The signals you get from the CSM or MADdash is not to trade, but rather an alert that something is happening or about to happen. Another way to overcome late signals is to trade only one currency pair - focus on the setup and enter on CSM/MADdash confirmation. And this leads to your last question
  6. Is there any way to know in advance which currency is going to be stronger or weaker??? Yes we can have a fair idea - your chart setup!!! See post 1471 to 1474, and another live example at MADDY thread. Below is another one I took while responding to your mail.

Attached Image (click to enlarge)
Click to Enlarge Name: GJ Trade1 - 11152018.gif Size: 45 KB


Market has since turned and I am now short the same GJ I just bought about 45 minutes ago. I buy above my MA Channel and sell below it. I don't second guess the market and this is why I trade the NOW trend.
Attached Image (click to enlarge)
Click to Enlarge Name: GJ Trade2 - 11152018.gif Size: 42 KB



It's almost midnight here and going for a snooze.

Shalom
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  • #2,266
  • Nov 15, 2018 2:24am Nov 15, 2018 2:24am
Quoting salimc
{quote} You Have sent me his dashboard picture with M5 highlighted with the yellow line. Is there any significance for me for this line? Thanks. {image}
I was just highlighting the M5 time frame because I trade off this time frame; but did you also observe anything All JPY related pairs are red meaning JPY is strong and all GBP pairs are red meaning GBP is weak, and this is confirmed by the MADdash. But look at the M1 TF, GBP pairs have all reversed!!! This is how to turn a lagging indicator into a leading one. This is when to start looking for a short trade in GJ as M1 is pulling back or diverging from M5 and M15, so we wait for M1 to recycle back into M5 + M15 trend. Aggressive traders can trade the pullback as well as the trend.

See post 1936, post 127, post 166 & 167.
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  • #2,267
  • Nov 15, 2018 11:09am Nov 15, 2018 11:09am
Attached Image (click to enlarge)
Click to Enlarge Name: EU Trade1 - 11152018.gif Size: 56 KB

Price goes above my MA Channel and bang I pulled the trigger for a buy. Why? The two M5 candles breaking out of the channel were very strong (about 20 pips) and the dashboard reflected strength vs weakness. Price pulls back just within few pips of my SL under the DOL (daily open line) for a 15 pip DD, and our turning lagging indicator to a leading one kicks in here. I trade full lot for a very small account and my principle is to always take whatever the market gives me and never worry about what is left on the table as there is always another day. Therefore was happy to close for 7 pips
Attached Image (click to enlarge)
Click to Enlarge Name: GJ Trade2b - 11152018.gif Size: 50 KB

Took a total of 49 pips from GJ I mentioned in post 2265 before going to snooze.

I am watching the GJ as it seem to be setting up a buying opportunity as it bottoms out for the day but need to break above 145.0 handle Oh no, just failed again and therefore on the sideline
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  • #2,268
  • Edited 11:39am Nov 15, 2018 11:25am | Edited 11:39am
Haha testing the waters as price bounces off the 144.50 level with very tight SL, and now in a free trade. The 145.00 level as first profit target
Attached Image (click to enlarge)
Click to Enlarge Name: GJ Trade3 - 11152018.gif Size: 40 KB

Calling it a day and all the best.

Shalom

Attached Image (click to enlarge)
Click to Enlarge Name: GJ Trade3b - 11152018.gif Size: 37 KB

Stopped me out and I re-entered; target made and done for the day
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  • #2,269
  • Nov 16, 2018 12:40am Nov 16, 2018 12:40am
Quoting 919gilead
Haha testing the waters as price bounces off the 144.50 level with very tight SL, and now in a free trade. The 145.00 level as first profit target {image} Calling it a day and all the best. Shalom {image} Stopped me out and I re-entered; target made and done for the day
hi 919gilead

please share your last template and indicator and PLEASE dont refrence to the older post

and please for the last time for ever,describe one of your trade compaltly ,i mean all things you check at the first step until close that trade as a last step.

i will be appreciated men.thank you
  • #2,270
  • Nov 16, 2018 6:20am Nov 16, 2018 6:20am
Quoting 5aztv88
{quote} hi 919gilead please share your last template and indicator and PLEASE dont refrence to the older post and please for the last time for ever,describe one of your trade compaltly ,i mean all things you check at the first step until close that trade as a last step. i will be appreciated men.thank you
Hi 5aztv88,

Unfortunately I cannot do that as (1) I don't have the luxury of time and (2) nothing has changed from the indicators and/or the template that were shared before and I still trade the same way. The only thing I play/change around is the 21/35 LWMA, EMA or SSMA.

I sincerely hope you understand and can invest the time to read what I shared and if you have any question(s), I will be more than glad to help but asking me to repeat what has already been explained when nothing has changed is pushing it.

Thank you and have a good week end.
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  • #2,271
  • Nov 16, 2018 11:36am Nov 16, 2018 11:36am
My view on NZDCAD Today! NZD strong CAD weak.....channel made the difference.
Attached Image (click to enlarge)
Click to Enlarge Name: 1.png Size: 32 KB
  • #2,272
  • Nov 16, 2018 12:53pm Nov 16, 2018 12:53pm
Quoting JediForex
My view on NZDCAD Today! NZD strong CAD weak.....channel made the difference. {image}
In which way the channel made the difference?
If nzd is strong and cad is weak you just buy nzdcad
  • #2,273
  • Nov 16, 2018 1:17pm Nov 16, 2018 1:17pm
Quoting Merka
{quote} In which way the channel made the difference? If nzd is strong and cad is weak you just buy nzdcad
to follow the movement: 2 retracement didn't break the channel so i did't close the trade. Very useful.
  • #2,274
  • Edited Nov 17, 2018 12:22am Nov 16, 2018 11:07pm | Edited Nov 17, 2018 12:22am
Quoting salimc
{quote} Hi brother, First I must apologize for this long letter. I have met many traders mostly advocating for trading with the daily chart (which takes weeks to close a trade). You are the first successful trader I have met who are trading successfully with a 5 min. chart. Fantastic! Anyway, I have a few questions for you and I will be more than happy if you can answer them one by one. 1. Do you trade 3 sessions? Or first 2 hours of each session? 2. Do you trade the Asian session? If yes, which pairs? 3. Do have your favorite pairs or you select...
Hi 919gilead,

First I must apologize for my delayed reply as I have to take care of certain other things. I am very much obliged for your kind reply to all of my questions. Thank you once more. I enjoy your every word. In fact, I have become your fan

1. Maybe you are still young for handling 3 sessions. Too Much stress. I could not even think of it. Maybe that's the reason that I am not a full time trader
2. From your chart, I can guess how do you trade. You go long when a price is above DO and short when a price is below DO. But for this you need to have higher ADX and that you possibly manage from MD or other CSM (I know you are a CSM expert)
3. Sometimes when I find a time I do day trading. I also trade with a 34/55 sma. But the problem is that whenever I click for a trade (day trade), the market immediately reverses and goes 40-60 pips to the opposite direction. Its because I buy when I see a breakout and forgets that within seconds there will be a pullback .
4.Swing trade: For that, I have to wait for the new daily bar formation which I get at 3 am morning (according to my time zone). So too much stress for me on health ground. So I am trying to prepare myself for day trading with the help of CSM.
5. I am trying to read the alerts from MD & other CSM. I can't trade the US session as at that time I have to teach my daughter. She reads in School.
6. I didn’t have the opportunity to read the Bread & Butter thread yet. But will read it soon.
I have to go now. Take care. Have a nice snooze (now it's your midnight. We are having a 10-12 hours time difference. As we are staying in the other part of the world.). Bye.

** I am going to send you a PM.

Thanks,
Salim
  • #2,275
  • Nov 17, 2018 3:17am Nov 17, 2018 3:17am
Quoting 919gilead
{quote} Hi 5aztv88, Unfortunately I cannot do that as (1) I don't have the luxury of time and (2) nothing has changed from the indicators and/or the template that were shared before and I still trade the same way. The only thing I play/change around is the 21/35 LWMA, EMA or SSMA. I sincerely hope you understand and can invest the time to read what I shared and if you have any question(s), I will be more than glad to help but asking me to repeat what has already been explained when nothing...
thanks919gilead ,i understand that . at least can you refer the post that you shared last template and indicators and also the post that you described exactly the way you are trading? im really interested to understand your trading way .i will be appreciated if you guide me one time for ever .
  • #2,276
  • Nov 17, 2018 5:30am Nov 17, 2018 5:30am
Quoting 919gilead
{quote} No not all my trades are with the trend, as I also trade from exhaustion points but would not mentioned that here, so I don't confuse newbies. The dashboard is only used to time my entry although it does give a bird's eye view of what is happening and would only use it if my chart setup is in agreement. NB: See the CADCHF trade I posted below (post 2259) - the current trade was taken against the trend
My friend, what do you mean "exhaustion points" ?
  • #2,277
  • Edited 2:25pm Nov 17, 2018 12:23pm | Edited 2:25pm
Quoting sobhan
{quote} My friend, what do you mean "exhaustion points" ?
The point at which price is finding it difficult to continue the original trend and begins to consolidate or trade sideways. At this point we don't know whether price will continue or reverse and this is part of why:

  1. I trade using the MA Channel and wait for price to break out of the channel before buying above the channel or break below the channel before selling below it
  2. I take my trades off the M5 time frame but trade the M30/H1 candles as this way, I allow the medium term candle to confirm change of trend.


Therefore for continuation in an uptrend as example, I will buy the break of the channel but if it reverses, I don't want the market to sell me a dummy and will wait for either the M30 or H1 candle to close below the MA Channel (not just the M5 candle) to ensure I have "an object in motion" before selling. You can see the GBPJPY long and short trades I took in post 2265. You will see how price consolidated or traded in a range for about 10 hours before first breaking to the upside for about 20 pips before reversing to the downside.

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  • #2,278
  • Nov 17, 2018 12:33pm Nov 17, 2018 12:33pm
Quoting 5aztv88
{quote} thanks919gilead ,i understand that . at least can you refer the post that you shared last template and indicators and also the post that you described exactly the way you are trading? im really interested to understand your trading way .i will be appreciated if you guide me one time for ever .

Unfortunately I cannot do that as I have done the same thing over and over for people, and all you need to do is to click on my name and browse through the summary of replies and will find what you are looking for. I am very busy and trust you can do that for yourself as I would also have to search thru the thread to reference what you want.

Thank you
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  • #2,279
  • Edited 2:21pm Nov 17, 2018 12:51pm | Edited 2:21pm
Quoting salimc
{quote} Hi 919gilead, First I must apologize for my delayed reply as I have to take care of certain other things. I am very much obliged for your kind reply to all of my questions. Thank you once more. I enjoy your every word. In fact, I have become your fan 1. Maybe you are still young for handling 3 sessions. Too Much stress. I could not even think of it. Maybe that's the reason that I am not a full time trader 2. From your chart, I can guess how do you trade. You go long when a price is above DO and short when a price is below DO....
Hi Salim,

1. I am not a young man either but definitely have more time as a fulltime trade. I don't trade all the sessions every day but do look for trades sometimes during the Asian and London sessions, and most of US sessions.
2. No I don't go long or short above or below the DO but the MA Channel, and I also do not worry about the ADX (I assume you mean ADR) until price starts ranging. By now you would have noticed that I am not a conventional trader as I trade outside the box. I trade full lot with small capital and 5+ pips per trade per unit is good enough for me as I can do that over and over again in a day. There is power in tiny gains and this pic I saw somewhere on FF recently just confirms that.
Attached Image (click to enlarge)
Click to Enlarge Name: Power of Tiny Gains.png Size: 97 KB

3. I don't wait for any daily bar formation and guess we all trade differently and this is why the MADdash is just a trade entry and management tool for traders with different system and style of trading. If you read thru my postings and responses, you will find how I trade.

Have a nice weekend and God bless
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  • #2,280
  • Nov 17, 2018 3:58pm Nov 17, 2018 3:58pm
Quoting 919gilead
{quote} The point at which price is finding it difficult to continue the original trend and begins to consolidate or trade sideways. At this point we don't know whether price will continue or reverse and this is part of why: I trade using the MA Channel and wait for price to break out of the channel before buying above the channel or break below the channel before selling below it I take my trades off the M5 time frame but trade the M30/H1 candles as this way, I allow the medium term candle to confirm change of trend. Therefore for continuation...

Tanx dear
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