Disliked{quote} Hi Chamane, Are you able to share the Strength meter you are using.? ThanksIgnored
https://www.forexfactory.com/showthr...8#post11826638
- #1,523
- Jan 9, 2019 4:11am Jan 9, 2019 4:11am
- Joined Jan 2009 | Status: Trader | 1,987 Posts
I have got SL with NZDJPY sell trade. No problem, but believe me or not - I had some doubts about this trade and other JPY pairs, it seemed like we had hidden bullish divergence on H1. {image}
- #1,525
- Jan 9, 2019 2:23pm Jan 9, 2019 2:23pm
- Joined Jan 2009 | Status: Trader | 1,987 Posts
Missed this trade. {image} {image}
- #1,526
- Jan 9, 2019 2:51pm Jan 9, 2019 2:51pm
- Joined Jan 2009 | Status: Trader | 1,987 Posts
A HD pattern in progress for NZDCAD in the 4 HR TF. It will be confirmed if MACD crosses down the zero line in the 1 HR TF. Better if there is a regular divergernce pattern just before.
- #1,527
- Jan 9, 2019 3:18pm Jan 9, 2019 3:18pm
- Joined Jan 2009 | Status: Trader | 1,987 Posts
Potential HD on this one too.
Thanks! Still following the thread, i think it should get more attention, but already happy with the increasing attention it gets lately 
I saw you (Chamane) entered on the cross of the MACD, so i attached an indicator that paints an arrow when the cross happens, so you don't need to zoom in and see if the line crossed the 0 level yet (sometimes i found it hard to spot exactly).
And i had a question, could you explain us some more about how you manage your risk? Do you use a fixed % per trade, or do you use the ATR to calculate lot size?
Greetings, TheJube.
I saw you (Chamane) entered on the cross of the MACD, so i attached an indicator that paints an arrow when the cross happens, so you don't need to zoom in and see if the line crossed the 0 level yet (sometimes i found it hard to spot exactly).
And i had a question, could you explain us some more about how you manage your risk? Do you use a fixed % per trade, or do you use the ATR to calculate lot size?
Greetings, TheJube.
- #1,532
- Edited Jan 11, 2019 1:38am Jan 10, 2019 8:51pm | Edited Jan 11, 2019 1:38am
- Joined Jan 2009 | Status: Trader | 1,987 Posts
Thanks! Still following the thread, i think it should get more attention, but already happy with the increasing attention it gets lately
- #1,533
- Jan 11, 2019 1:18am Jan 11, 2019 1:18am
- Joined Jan 2009 | Status: Trader | 1,987 Posts
Going to pass on this one, seeing it too late.
- #1,535
- Jan 11, 2019 1:48am Jan 11, 2019 1:48am
- Joined Jan 2009 | Status: Trader | 1,987 Posts
{quote} I prefer even smaller risk - 1% and never more than 2% per trade on live account. Except very small live accounts (about 100 -200 USD) for testing purposes, where it can be higher.
{quote} Hi Jube, thanks for the indicator, I will use it for sure. MACD has to get acros the zero line at the close of the price. I got caught a couple of times not respecting that criteria. But that's my personal way. I trade with the minumum lot size, wich is 0.01 for my account. When placing my stop loss at the last swing high/low, I calculate if the risk is not more than 5% of my capital. If it is, no trade. I then set my profit at a RR 1:1. When reaching half my risk in profit, I bring my stop loss to breakeven plus a few pips. If there is...
Crystal clear! I see you are using the arrow already, nice! (I don't know why exactly but the arrow size and color don't change when i change the settings, maybe someone knows how to code that).
And i had 3 questions:
1. What do you do when for example you went long on the 4H+D1 timeframe setup, but then a sell setup is forming on lets say the H1+H4 timeframe. Do you take the sell then? Or do you exit the long then? How do you do that, because sometimes im in a trade and see an opposing trade forming on the lower timeframe.
2. Can you explain a bit how you use the Currency Momentum Strength Meter in conjunction with the hidden divergence system? Do you look for the trade suggestions and if so do you trade them in that direction or you trade opposite of the trade suggestion (I.E. go long if the suggestion is a sell and vice versa).
3. How do you pick the pairs? How do you scan them? Do you have them all open on a specific timeframe in windows, or you check them every now and then?
Thanks in advance, and already thanks for the effort!
Greetings, TheJube.
- #1,539
- Jan 11, 2019 9:33am Jan 11, 2019 9:33am
- Joined Jan 2009 | Status: Trader | 1,987 Posts
{quote} Thanks alot Chamane for the explaination
To answer your questions:
1- Once I am in a trade, I follow my rules. Bringing my stop loss to breakeven when in profit at half my risk and closing the trade when MACD crosses back the zero line should take care of many situations going the wrong way, with a small loss or gain.
2- The currency strength meter I am showing is simply another way to confirm the big picture. I rely firstly on the cross of the Donchian midlines on the higher timeframe and trade accordingly. Most of the times they are in sync.
3- I trade mostly 4H and Daily timeframes, so I look at all pairs manually. I only have one screen, so I can hardly show all 28 at the same time.
Hope this helps.
- #1,540
- Jan 11, 2019 12:09pm Jan 11, 2019 12:09pm
- Joined Jan 2009 | Status: Trader | 1,987 Posts
Here's an example of a HD setup on small timeframes.
