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NIH98 Journal of Whatever

  • #641
  • Edited 10:58pm Jul 27, 2019 8:21pm | Edited 10:58pm
Quoting OAPDave
The thread is quite and I am bored, so I will post a few charts If you think the Dollar is Strong or Weak Dave {image} {image} {image} {image} {image} {image} {image} {image}
Hi Dave
The first chart is showing US$ above its Monthly Open=US$ LONG. Any FX pair that includes the USD should be traded in the direction of the US$...SHORT set ups only would be the safest for XXXUSD pairs (price < MO), LONG for USDXXX pairs (price > MO). The other charts you posted reflect that (I think). Enjoying your way of thinking and applying. Trading your GU BO system could therefore be further filtered to trading only in the direction of the US$ Monthly open? Could this not then be applied to the US$ Weekly open as well? I can see many new ideas popping up if I'm on the right track.
  • #642
  • Edited 10:56pm Jul 27, 2019 10:45pm | Edited 10:56pm
Friday trade on GU...my Trade Manager was set to BE when price hit 50% of target. You could close 50% of the trade at this point but I chose not 2....pity. The system by Dave went on to record another great result. The entry is in full accordance with Dave's take on all the Monthly Open prices of the US$ and FX pairs as I described above (If my assumptions are correct).
Dave your treatment of Short and Long trades with a form of Martingale is very sound. I was introduced to something similar somewhere in the FF threads years ago, but I was distracted by other trading ways and never put it into practice. Now if we could just have Trending markets all the time and not ranging ones...I guess the US$ chart might hold clues as to when the markets WILL trend enough to avoid the trades of Thursday (2 losses), but maybe not. If price is going UP on the US$ above the MO or WO and > than say 2 MA's and the MA's are UP then you could consider USD FX pairs will be strong and trade the appropriate pairs accordingly?
Attached Image (click to enlarge)
Click to Enlarge Name: GU 26 July.jpg Size: 200 KB
  • #643
  • Edited Jul 29, 2019 2:53am Jul 28, 2019 4:01am | Edited Jul 29, 2019 2:53am
Quoting grenell
{quote} Hi Dave The first chart is showing US$ above its Monthly Open=US$ LONG. Any FX pair that includes the USD should be traded in the direction of the US$...SHORT set ups only would be the safest for XXXUSD pairs (price < MO), LONG for USDXXX pairs (price > MO). The other charts you posted reflect that (I think). Enjoying your way of thinking and applying. Trading your GU BO system could therefore be further filtered to trading only in the direction of the US$ Monthly open? Could this not then be applied to the US$ Weekly open as well? I can...
Hi grenell
Yes my friend you have nailed it completely.
Good post great chart
Dave
  • #644
  • Jul 28, 2019 4:06am Jul 28, 2019 4:06am
Quoting ferdinando
{quote} Hi Dave, Thanks for posting the monthly chart. Could u explain the concept of 1% octave? Is it similar to a % of ADR? Kind Regards Ferdinando
Hi Ferdinando
It's just levels to show how much price as gained or dropped in the month shown in Nih98 percent terms and yes you could say it's a form of atr/adr
Dave
  • #645
  • Jul 29, 2019 7:38am Jul 29, 2019 7:38am
Quoting OAPDave
Not a bad Monday at all. No drama Dave {image} {image} {image} {image} {image} {image}
Nice job Dave
I have a question related to the last chart GBPNZD.
Was the buy triggered on your broker?
I ask the question because at that time usually brokers widen spreads (it could be also more than 10 or 15 pips) and it's really hard to avoid that buy not being triggered.
  • #646
  • Jul 29, 2019 11:28am Jul 29, 2019 11:28am
Quoting OAPDave
{quote} Hi Merka That pair runs at about 5 pip spread with my broker so I just factor that in when placing orders Dave ps Merka if by any chance your Broker takes you into a trade by the spread, you have a fixed set of rules and money-management so although it's not nice, just take it as part of the game and carry on. The method as no emotion just take the tablets and do it
Thanks
  • #647
  • Jul 31, 2019 11:42am Jul 31, 2019 11:42am
Quoting OAPDave
Oops a Buy winner {image}
Thanks for keeping this thread alive sir dave, hope we can see more interactions, as we have valuable information shared here. I have been busy this month but now back to trading, I am familiar with Nihilist approach but will look into your trading style. Thank you.
  • #648
  • Jul 31, 2019 11:49am Jul 31, 2019 11:49am
Quoting MarkStep
{quote} Thanks for keeping this thread alive sir dave, hope we can see more interactions, as we have valuable information shared here. I have been busy this month but now back to trading, I am familiar with Nihilist approach but will look into your trading style. Thank you.
No problem my friend, here to help, but only if you drop the (Sir) tag
Just plain
Dave
  • #649
  • Aug 1, 2019 11:12pm Aug 1, 2019 11:12pm
Quoting OAPDave
{quote} No problem my friend, here to help, but only if you drop the (Sir) tag Just plain Dave
Do we have any confirmation of where the trend will lead? thanks
  • #650
  • Aug 2, 2019 11:13pm Aug 2, 2019 11:13pm
Quoting OAPDave
{quote} No problem my friend, here to help, but only if you drop the (Sir) tag Just plain Dave
So we basically place a trade at the start of the daily open, some days will be winners, Some will have loses. Did some week have more Losers than winners ?? Some spike will trigger the opposite direction to open then retrace resulting to a lose, ranging market is also hard. This is profitable in trending market. You have mentioned you only place 2 trades meaning you only choose 1 pair to trade for that day?, How do you choose your pair. Regards
  • #651
  • Aug 3, 2019 4:20am Aug 3, 2019 4:20am
Quoting MarkStep
{quote} So we basically place a trade at the start of the daily open, some days will be winners, Some will have loses. Did some week have more Losers than winners ?? Some spike will trigger the opposite direction to open then retrace resulting to a lose, ranging market is also hard. This is profitable in trending market. You have mentioned you only place 2 trades meaning you only choose 1 pair to trade for that day?, How do you choose your pair. Regards
Mark
Take a look at the chart, now do you understand the Buy entry with the stop and the 1 to 1 risk reward target (do the opposite for a Sell)
Money-management
Divide your account in half, call 1 a Buy account and the other a Sell account
Run a Buy Martingale with a 1 1 3 5 8 increase
Run a Sell Martingale with a 1 1 3 5 8 increase
Simple Yes ?
Dave
Ps
I only take 1 buy and/or 1 Sell per day
Attached Image (click to enlarge)
Click to Enlarge Name: EURNZDM15.png Size: 86 KB
  • #652
  • Aug 3, 2019 4:45am Aug 3, 2019 4:45am
Quoting OAPDave
{quote} Mark Take a look at the chart, now do you understand the Buy entry with the stop and the 1 to 1 risk reward target (do the opposite for a Sell) Money-management Divide your account in half, call 1 a Buy account and the other a Sell account Run a Buy Martingale with a 1 1 3 5 8 increase Run a Sell Martingale with a 1 1 3 5 8 increase Simple Yes ? Dave Ps I only take 1 buy and/or 1 Sell per day {image}
Thanks dave, I was missing the martin gale money management.

cheers!
  • #653
  • Aug 3, 2019 7:03am Aug 3, 2019 7:03am
Quoting OAPDave
{quote} Mark Take a look at the chart, now do you understand the Buy entry with the stop and the 1 to 1 risk reward target (do the opposite for a Sell) Money-management Divide your account in half, call 1 a Buy account and the other a Sell account Run a Buy Martingale with a 1 1 3 5 8 increase Run a Sell Martingale with a 1 1 3 5 8 increase Simple Yes ? Dave Ps I only take 1 buy and/or 1 Sell per day {image}
Hello Dave
Till now what level did you reached on your MM logic?
For example, did you ever reached the fifth level?
Are there more levels above the fifth?
Cheers
  • #654
  • Aug 4, 2019 9:45am Aug 4, 2019 9:45am
Quoting MarkStep
{quote} Thanks dave, I was missing the martin gale money management. cheers!
Mark
You are correct my
1 1 3 5 fib is more of a gentle increase than a strict 1 2 4 8 true Martingale, the reason for this is the New ESMA rules that came in which have drastically changed the margin requirements, hence I am only after recovering any losses, of which 1 1 3 5 does up to 5
You must remember with luck you will be winning on the opposite trade whilst attempting to recover any loses
Dave
p. s
Please see the reply to Merka below
  • #655
  • Aug 4, 2019 10:00am Aug 4, 2019 10:00am
Quoting Merka
{quote} Hello Dave Till now what level did you reached on your MM logic? For example, did you ever reached the fifth level? Are there more levels above the fifth? Cheers
Merka
I stop at 5 because the next fib number is 8 and a winner at 8 will not recover previous loses in a 1 to 1 risk, I am sure you can do the maths to calculate that you would need 10 units to recover all previous loses , as I have said in the above post ESMA rules are more restrictive now, so for ease I just call it a 1 1 3 5 series loss and move on, starting again from 1, now as I have said above I am sure you can see reasons sometimes to run trades for perhaps 2 3 4 or more times risk or indeed take the risk out of a trade as quick as possible ( may be the reference of the Dollar chart or indeed looking at the Wkly or Mthly charts may help with this) all this lets you absorb a series loss with not to much damage
Hope that helps
Dave
  • #656
  • Aug 4, 2019 1:45pm Aug 4, 2019 1:45pm
Quoting OAPDave
{quote} Merka I stop at 5 because the next fib number is 8 and a winner at 8 will not recover previous loses in a 1 to 1 risk, I am sure you can do the maths to calculate that you would need 10 units to recover all previous loses , as I have said in the above post ESMA rules are more restrictive now, so for ease I just call it a 1 1 3 5 series loss and move on, starting again from 1, now as I have said above I am sure you can see reasons sometimes to run trades for perhaps 2 3 4 or more times risk or indeed take the risk out of a trade as quick...
Thanks
  • #657
  • Aug 6, 2019 9:40am Aug 6, 2019 9:40am
Guys
I am just curious as their as been well over 1,000 plus downloads of Nih98 rather unique indicators, does anyone take notice of the Signal Box when trading ?
Dave
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDM1a.png Size: 75 KB
  • #658
  • Aug 6, 2019 10:02am Aug 6, 2019 10:02am
Quoting OAPDave
Guys I am just curious as their as been well over 1,000 plus downloads of Nih98 rather unique indicators, does anyone take notice of the Signal Box when trading ? Dave {image}
Not me
I don't use that box.
I tend to create my own entry criterias
Cheers
  • #659
  • Aug 6, 2019 1:58pm Aug 6, 2019 1:58pm
Quoting Merka
{quote} Not me I don't use that box. I tend to create my own entry criterias Cheers
So do you use or find any of Nih98 indicators of value to your trading then
Dave
  • #660
  • Aug 6, 2019 2:04pm Aug 6, 2019 2:04pm
Quoting OAPDave
{quote} So do you use or find any of Nih98 indicators of value to your trading then Dave
Yes
I found the RSI666 very useful for me and also the TMA.
Cheers
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