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NIH98 Journal of Whatever

  • #661
  • Aug 6, 2019 3:43pm Aug 6, 2019 3:43pm
Quoting OAPDave
{quote} There Ok but I like to see them fit in with my other indicators {image}
Trend continuation using !nih98 indicators are top notch, considering higher time frame are in line.
  • #662
  • Aug 6, 2019 3:45pm Aug 6, 2019 3:45pm
My setup
TMA is in background and not visible
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  • #663
  • Aug 6, 2019 3:52pm Aug 6, 2019 3:52pm
Quoting Merka
My setup TMA is in background and not visible {image} {image}
Interesting, but I just cannot trade without a grid of some sort
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  • #664
  • Aug 6, 2019 10:30pm Aug 6, 2019 10:30pm
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}
Hi Dave,

Firstly my deep appreciation to NIH for his work and sharing in his forum, and of course the pictures of mans best friend.

That's an interesting question.

I would like to think that there are benefits to viewing the signal box, however it requires each trader to adapt the information to suit their individual trading time frame.

If our own research and education suggests that the larger time frames assist with determining the direction of future price movement, it requires an assessment of current time frame--(in your chart 1 Min) can I use a 15 min signal? or if I use the Daily signal, can I afford to hold until the Take Profit target is reached---This is a stupid example as the time frames are ridiculously long, but by experimenting with different Signals we may realistically use say a 15 min signal, for the 1 min chart.

Also I have used a combination of Time frames from dashboard systems to assist with my short term trading--(I like 15 min Charts) A combination of Green signals over a range of time frames, provides a potentially strong view for future direction--but be careful how you use that info as in today's markets NEWS can play havoc with trading times.

Today's NZ interest rate was reduced and the GBP/NZD price just jumped 334 pips 58 mins ago.

I don't have NIH's signal box on my charts, to evaluate what the signals were suggesting an hour ago, covering several different time frames, but if you can review them your reply would be appreciated.

I used (FerruFx) dashboard system as I can adjust it to suit my parameters---

Here is a quick summary of how I viewed the GBP/NZD Daily chart with NIH's TMA's and RSI's

I do not use the standard settings of either TMA;s or RSI's and the reasons is due to everyone has a different view of what constitutes a trend. Having said that the RSI's crossed down around June 21 2019---( Short Trades are my focus)

My Middle TMA line started down movement on June 24th 2019----Here is the crunch Only short trades are taken at this level of indication.

Until

Aug 5th 2019

My RSI indicator crossed up

Today---My Mid Line TMA appears to have flattened (Bar is still working as we type)

Could I have traded the GBP/NZD Long from Aug 5th when my RSI's crossed up---yes, as a short term trader. Would I have held that position at breakfast today----That my friend is what would you have done, my experience, or lack of it, provides an answer for me---you check your own chart, and with your experience suggest ways in which it could have been held as a long position.

If you do provide a reply to that question, I will reply with my method of handling this long position.

I appreciate that GBP/NZD is not the chart you normally post about but Boris and UK Govt. are impossible to understand at this point in time

Kind regards
Ben
  • #665
  • Aug 7, 2019 12:01am Aug 7, 2019 12:01am
Quoting btrfx1
{quote} Hi Dave, Firstly my deep appreciation to NIH for his work and sharing in his forum, and of course the pictures of mans best friend. That's an interesting question. I would like to think that there are benefits to viewing the signal box, however it requires each trader to adapt the information to suit their individual trading time frame. If our own research and education suggests that the larger time frames assist with determining the direction of future price movement, it requires an assessment of current time frame--(in your chart 1 Min)...
If you could post a chart and details it would be much better.
  • #666
  • Aug 7, 2019 2:46am Aug 7, 2019 2:46am
Hi Markstep,

Thank you for your request, however showing you my chart will not benefit you or anyone else for that matter. If you looked at my chart and tried to duplicate it on another trade it would probably fail, and that would be doing you a disservice, believe me, because like you I thought that was a way to learn how to trade. I failed from that method of trading, you have to develop you own box of trading tools.

Education, Education Education are the three ingredients necessary to trade markets.

There are a few good places to gain education, and a million and one experts who all claim to know how to trade.

It's a simple question you need to ask yourself--if they were that good, how come they are not trading their own expert advice--- yeah they will tell you something for a price, which will empty your bank account over time, cos when one doesn't work guess what they will sell you another you beaut system.

FOOLS AND THEIR MONEY ARE SOON PARTED!!! never forget that

I started learning Technical Analysis in 1990 and developed an understanding of markets.

Indicators are nothing more than a graphical representation of price action, so which one are you going to use?????

I don't know your background but let me help you by doing the following

Using MT4 open two charts of GBP/NZD one a daily chart and the other one a 15 min chart.

Select NIH's setup or your own and create your own set of values to interpret the charts---Think outside of the box.

My best tip I can forward to you, and it's not chart based is

Never BUY if OVERBOUGHT
Never SELL if OVERSOLD

How you determine those levels will depend on your knowledge of Technical Analysis.

REPEAT---REPEAT and REPEAT these processes, preferably in a demo account until you get it right, then apply the theory to a range of different currencies and see how you go.

First rule of trading---make sure the data feed you are paying for is REAL TIME AND ACCURATE---Rubbish input equals Bad analysis plus expensive and dismal failure.

Are you a full time trader or a part time one??

Kind regards
Ben
  • #667
  • Edited 6:54am Aug 7, 2019 5:07am | Edited 6:54am
Quoting btrfx1
{quote} Hi Dave, Firstly my deep appreciation to NIH for his work and sharing in his forum, and of course the pictures of mans best friend. That's an interesting question. I would like to think that there are benefits to viewing the signal box, however it requires each trader to adapt the information to suit their individual trading time frame. If our own research and education suggests that the larger time frames assist with determining the direction of future price movement, it requires an assessment of current time frame--(in your chart 1 Min)...
Hi Ben
Thank you for a great post, just wish we had a few more like that.
I will have a more in depth look at the Gbp/Nzd a little later, but for now I will just post the method that I am trying to perfect adding a money-management
To me I see risk of 47 pips and I could just play every Buy and Sell from the Daily with my money-management or I could use the Monthly and just go with the Daily Signal that matches the Monthly direction
At the moment I am looking at Nih98 Signal Box to see any clues that let me bank then re-enter the Trending direction or in other words Add to my position
Dave
Attached Image(s) (click to enlarge)
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  • #668
  • Aug 7, 2019 6:58am Aug 7, 2019 6:58am
Quoting btrfx1
{quote} Hi Dave, Firstly my deep appreciation to NIH for his work and sharing in his forum, and of course the pictures of mans best friend. That's an interesting question. I would like to think that there are benefits to viewing the signal box, however it requires each trader to adapt the information to suit their individual trading time frame. If our own research and education suggests that the larger time frames assist with determining the direction of future price movement, it requires an assessment of current time frame--(in your chart 1 Min)...
Hi Ben
This would be my view with my alternative grid with shows S/R
Dave
Attached Image(s) (click to enlarge)
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  • #669
  • Aug 7, 2019 7:18am Aug 7, 2019 7:18am
Quoting OAPDave
{quote} Hi Ben Thank you for a great post, just wish we had a few more like that. I will have a more in depth look at the Gbp/Nzd a little later, but for now I will just post the method that I am trying to perfect adding a money-management To me I see risk of 47 pips and I could just play every Buy and Sell from the Daily with my money-management or I could use the Monthly and just go with the Daily Signal that matches the Monthly direction At the moment I am looking at Nih98 Signal Box to see any clues (Yes, (with reservations) see below for more detail...
Hi Dave,
Thank you for the reply, I have read on the FF site where some will say a money management is not required and I do not accept that under any circumstance.

We have all learnt a way in which we can make some good calls, but as time has proven, forecasting the future is fraught with danger.

I do not post very often as trading is an individual business, and when discussing a particular subject, we aim to help others, but trust the information presented would not be misinterpreted due to their limited database of knowledge, so I stay behind the curtain so to speak

As per my message to "MarkStep" in an earlier post, copying my chart would cause him heartache (and my purpose is to help but never cause anyone harm by what I say and do), as he could never understand my almost 30 years of studying trading.

I have been following this post for quite a while, so poking my head out from behind the curtain to talk to you is a privilege for me, hope it helps.

Appreciate all of the posts and especially your way of trading. I have used your 31 tick box size for the GBP/USD and allowed myself to set the mid point at the beginning of my day.

I have a couple of large screen which allows me to place a couple of time frames to view in real time.

At Frankfurt and/or London Openings the GBP and other crosses may indicate possible movement in the price, not every day and not at the same times but never the less I find it beneficial to keep a close eye on them.

So here are some of my thoughts on Dashboards and signal Boxes.

1---Primary strong currencies are most sought after---(for Longs)--and vice versa for shorts.

2---In your 1 min view of a post 663 chart above, I looked for confirmation of higher time frames which support the 1 min chart---When i checked your Signal Box the following time frames were green--1, 5, 15 and 30 min. I don't know what they were at the beginning of that up move but it sits well with your grid setup.

3---If those nominated boxes were green at the time of your potential trade LONG, the confirmation was valid, in my opinion. ( If 1 min was green and all others were red--NO TRADE)

4---Depending on your target price and available time to trade would it have been a successful trade for you, therefore the signal box can be used or discarded for that particular trade.

I will leave it to you to assess your grid levels, and I guess there is more that can be discussed but do not want to overload the post.

In relation to the GBP/NZD chart today with it's associated aftershocks from rate adjustments by NZ Gov.---I am not suggesting you look at that pair, I only wanted to show you that all markets are interconnected in many different ways---which brings me to conclude that old saying---(When one baby cries in the hospital nursery/crib room they all end up crying) and if you have children I am sure you understand the point and also for the currency markets.

Goodnite
Ben
  • #670
  • Aug 7, 2019 7:34am Aug 7, 2019 7:34am
Quoting btrfx1
{quote} Hi Dave, Thank you for the reply, I have read on the FF site where some will say a money management is not required and I do not accept that under any circumstance. We have all learnt a way in which we can make some good calls, but as time has proven, forecasting the future is fraught with danger. I do not post very often as trading is an individual business, and when discussing a particular subject, we aim to help others, but trust the information presented would not be misinterpreted due to their limited database of knowledge, so I stay...
Ben
Thank you for your reply and views, I must admit that Your type of posts are well worth reading, I guess its late now for you and bedtime is calling, so just leave you with this, we have a idea of Range I just want to grab a bit of it as they expand it from the Daily, Weekly or even Monthly open.
Thanks again
Dave
  • #671
  • Aug 7, 2019 7:59am Aug 7, 2019 7:59am
Quoting OAPDave
{quote} Ben Thank you for your reply and views, I must admit that Your type of posts are well worth reading, I guess its late now for you and bedtime is calling, so just leave you with this, we have a idea of Range I just want to grab a bit of it as they expand it from the Daily, Weekly or even Monthly open. Thanks again Dave
Hi Dave, for
Yep it's bedtime here but a quik reply. why don't we start with a smaller time frame for example Main chart 4 hr--check direction, go to a 1 hr chart, and confirm a 15 min chart.

Check the Signal bar signals and plot the results or use a demo acct..

I'll do the same an post if I can get the demo to run on the laptop.

Ben
  • #672
  • Aug 8, 2019 2:56am Aug 8, 2019 2:56am
Quoting OAPDave
{quote} Ben Thank you for your reply and views, I must admit that Your type of posts are well worth reading, I guess its late now for you and bedtime is calling, so just leave you with this, we have a idea of Range I just want to grab a bit of it as they expand it from the Daily, Weekly or even Monthly open. Thanks again Dave
NB--For the attention of OAPDave Only

In Reply and not trading advice or inference for anyone---(IN ANSWER TO DAVES REQUEST FOR INTERPRETATION ON NIH's SIGNAL BOARD--REPEAT NOT TRADING ADVICE)

I have monitored the GBP/USD today on our time zone, not a lot of activity in price movement, as you might expect, however Frankfurt has just opened and my signal bars are all green except EMA and STR on Dly. -----MACD on 15 and 30 min also Red.

This will change quickly in my opinion, as it is a knee jerk reaction on Open for trading today.---(Idiots Open markets--- Professionals close them, and normally wait till the rush of blood settles down)

Will attempt to monitor it over next few hours.

Crystal Ball Gazing on GBP/USD---using current price for the following time frames.---(ps currently awaiting London Open for confirmation of Frankfurt movement)
Dly---In limbo until Aug 6th high taken out
Wkly---Short until last weeks close is taken out
Mthly---Short until last months close is taken out

Ben
  • #673
  • Aug 8, 2019 3:37am Aug 8, 2019 3:37am
Dave,

Updating info only.
NIH's signals.
We are 1.5 hrs from Frankfurt Open.
Mixed signals.
Bar M1 to M5 red
M15 to H4 No real value there at the moment.--M1 to H4 continously changing thru Green, Yellow and Red
D1 Red

Of the three indicators in the Box, in order of preference, which ones give the best results for you when applied to your charts

We need to see the settings of the Indicators to better understand the value of them.

Do you know them?

Ok dinner time here.

Talk later
Ben
  • #674
  • Aug 8, 2019 4:42am Aug 8, 2019 4:42am
Quoting btrfx1
Dave, Updating info only. NIH's signals. We are 1.5 hrs from Frankfurt Open. Mixed signals. Bar M1 to M5 red M15 to H4 No real value there at the moment.--M1 to H4 continously changing thru Green, Yellow and Red D1 Red Of the three indicators in the Box, in order of preference, which ones give the best results for you when applied to your charts We need to see the settings of the Indicators to better understand the value of them. Do you know them? Ok dinner time here. Talk later Ben
Hi Ben
You are correct we do not know Nigh98 settings for the Signal Box so I have added another one (Nihlist, not sure if there is a connection) but I see a problem, briefly it's that this will need a fair bit of screen time when trading a few pairs, were my aim was to create a Set & Forget Method that being at midnight Uk time I have the enter, target and stop levels, which then leaves me the choice of placing orders or manually trading them, to me I just have to get a happy medium from my Risk Reward money-management which as been made just a little harder with the ESMA rules that govern me.
I will keep my eye on things but I think Range is the key, be it Daily Weekly or even Monthly and perhaps try to increase the Reward ratio
Dave
  • #675
  • Aug 8, 2019 6:06am Aug 8, 2019 6:06am
[quote=OAPDave;12429043]{quote} Hi Ben You are correct we do not know Nigh98 settings for the Signal Box so I have added another one (Nihlist, not sure if there is a connection) but I see a problem, briefly it's that this will need a fair bit of screen time when trading a few pairs,

Hi Dave,

I will not pursue that specific data anymore, it's irreleva.nt in the bigger picture sems we have a much bigger i.e

A "Set n Forget" strategy is a much wider issue to deal with, in relation to the strategy Box analysis/viewing.

As D1 is the maximum box we can monitor n NIH's system, weekly and monthly become impossible to analyse.

My world is short term trading, so I may be unable to assist with large time frames

Firstly ,a set of guidelines are necessary, e.g MM, Stop loss values etc etc.

The bigger the time frame the bigger the drawdowns.

Correlation of more than 2 pairs becomes a problem---i.e. are the selected pairs correlated or not?

I am looking at GBP/USD Dly and observe NIH's RSI's to be a good guide when analyzing the longer time frames

The crossings of the RSI and short MA, especially when above/below the long MA to be excellent points of interest for trading.

But it requires close monitoring of the slope of the long MA.

On my weekly chart Short on 22/04/18 at 1.4000---closed out on 26/08/18 at 1.29567 based on RSI and Short MA with some 1,100 pips in the bank.

The next trade came on 5/5/19 and is still current with 725 pips if closed out right now.

I am not sure if you could trade the Long periods in between Opening and closing trades, an the new rules which govern you may become an issue.

There are more opportunities in the Daily chart over the same periods which if taken provided some butter for your bread as both long and shorts were available.

So i will await your reply in relation to this post as we have traversed from intraday M1 charts to a much bigger picture and I am unsure if my information will confuse or support your efforts.

I must tell you that I am unable to look at such long term trading, too many variables to deal with but don't let that dissuade you in your attempts to try it.

last Update as of 8/8/19 @14:00 every signal box from M1 to D1 is RED (except D! MACD)

Talk later
Ben
  • #676
  • Edited 7:08am Aug 8, 2019 6:50am | Edited 7:08am
Quoting btrfx1
Quoting OAPDave
{quote} Hi Ben You are correct we do not know Nigh98 settings for the Signal Box so I have added another one (Nihlist, not sure if there is a connection) but I see a problem, briefly it's that this will need a fair bit of screen time when trading a few pairs, Hi Dave, I will not pursue that specific data anymore, it's irreleva.nt in the bigger picture sems we have a much bigger i.e A "Set n Forget" strategy is a much wider issue to deal with, in relation to the strategy Box analysis/viewing. As D1 is the maximum box we can
...
Hi Ben
Please bear with me as sometimes I find it difficult to explain my thoughts, The Time frame makes no difference to my method, it is the Daily Open that sets the tone, what I want to see is, do they make a positive or negative move away and how many pips do the travel, this can bee see on any time frame, lets stay with GU today we can see as I type there as been no negative move below the open (haha just hit the Open) we can see that there as been only 43 pips of the 73 pip Daily average used, so the question is will the expand the range down or will the make new highs, I noted that you mention you can see good chart structure on a 1 min and I agree, all I do is call my 31 pip box an area of indecision, then I hope on the breakout either Buyers or Sellers have taken charge, also my grid/level are give or take 15 pips so you could just scalp 15 pip moves, so indeed sometimes you could be Selling lows and Buying highs to pick up on the Range Expansion
Dave
p.s
You can see now if it drops to my sell level that would make the range about 60 pips so that means with a normal 74 pip range day i would not hit my sell targat so I would just pass on the trade
Attached Image (click to enlarge)
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  • #677
  • Aug 8, 2019 7:32am Aug 8, 2019 7:32am
[quote=OAPDave;12429299]{quote}{quote} Hi Ben Please bear with me

Dave
Yep not a problem especially when you get to my age.

Allow me a little slack here--I changed the position of your box to set the middle point at the start of today---Noe for me I had a breakout at 04:30 (MT4 time) at a price of 1.21545---took the next bars open at 1.21551---at 06:00 my 15 min chart the price ran under the open--a warning signal for me---well there was only 15 pips in it. sees a positive move and so I hold and

At 09:45 I get another warning signal and as soon as the 9:50am bar opens and closed at 1.21572 I try and place an order. The next bar opened and then fell to the top of our box, which causes some concern, but as it opened at the previous close I held.

I have learnt to feel comfortable with NIH's RSI's with the associated MA's and by10:30am the(5 min chart is giving me a warning and the 10:35am opening is cause to exit.

That's some of my trading for today and in those two trades there were approx 40 pips.

For tonight and your trading day we have short trades--and I am using my 5 and 15 mi charts.

I can only see trades from my 5 min chart--hope that makes sense. The signal box for tonights trading is all short according to the red boxes in almost every period.

I have mt4 here now maybe I can send pictures of those moments not sure if it will work lets see, never posted a chart, how to do it, you are an expert at it.

OK I am wrapping up here but leave me a message an I will follow it up tomorrow

Ben
ps I think there is value in using the signal boxes, it's still work in progress, but tonights indications were short and that was the signals for a trade or three
  • #678
  • Aug 8, 2019 7:51am Aug 8, 2019 7:51am
Quoting btrfx1
Quoting OAPDave
{quote}{quote} Hi Ben Please bear with me Dave Yep not a problem especially when you get to my age. Allow me a little slack here--I changed the position of your box to set the middle point at the start of today---Noe for me I had a breakout at 04:30 (MT4 time) at a price of 1.21545---took the next bars open at 1.21551---at 06:00 my 15 min chart the price ran under the open--a warning signal for me---well there was only 15 pips in it. sees a positive move and so I hold and At 09:45 I get another warning signal and as soon
...
Ben That's nicely thought out, you must be having a laugh, me a computer expert !!!!
Mt4
Open the chart that you want to show
Go to file open Save picture
Screenshot opens click save active chart then click ok
Now give the file/picture a name and click save
now look at your post and click Upload from Device
Your Picture folder should open, click picture
Bingo it should be attached to your post now
Dave
have fun
  • #679
  • Aug 8, 2019 4:06pm Aug 8, 2019 4:06pm
Quoting OAPDave
{quote}{quote} Hi Ben Please bear with me as sometimes I find it difficult to explain my thoughts, The Time frame makes no difference to my method, it is the Daily Open that sets the tone, what I want to see is, do they make a positive or negative move away and how many pips do the travel, this can bee see on any time frame, lets stay with GU today we can see as I type there as been no negative move below the open (haha just hit the Open) we can see that there as been only 43 pips of the 73 pip Daily average used, so the question is will the expand...
Update
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDM15a.png Size: 104 KB
  • #680
  • Aug 8, 2019 5:06pm Aug 8, 2019 5:06pm
Quoting OAPDave
{quote} Update {image}
1 loss and 1 win I guess
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