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(binned per thread starter's request) Currency Strength with cont

  • #2,441
  • Aug 6, 2019 7:12am Aug 6, 2019 7:12am
Quoting Ross88
{quote}you said you're going to pay me a visit in real life
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Toxic Flow for FX Brokers.
  • #2,442
  • Edited 12:55pm Aug 6, 2019 9:31am | Edited 12:55pm
Quoting copi88
{quote} Up moves are fuelled by sellers whose stops are being triggered and are forced to become buyers, institutions are not the ones buying at higher and higher prices
We can discuss endlessly if volume is lagging or not, if MA34 strategy is slightly or significantly better, if order flow and wave analyses saying this and that, but the copi88's quote above is exactly the reason, why the contrarian trading work out. Because this is the way how forex mechanics works. That"s the reason where stop hunt myths came from. Market or institutions manipulate the price higher because they want sell at the very best price. If retail seller's stop losses are eaten by market, what does it mean? Retail stop losses are not standard type of limit or stop orders in MM order book. They do not provide liquidity. They are actually orders waiting in broker's order book to be triggered once market touches the price level they are set on. At that time they become market orders. And what drives the market? Aggressiveness of the orders and lack of luquidity. Market orders bring the agresivity that drives the price higher and higher. What MM does when public herd is aggressively buying through stop losses ? MM is selling to them and because MM is much bigger capitalised than any of retail trader so MM can afford SELLING into the uptrend several hundred pips because at the end the price will go down or because there is much much bigger set of buy orders on BID side. Actually we are usually right when selling we just sell too soon.Look what happens to the common trader very often. He sells, stop loss triggered and after several legs up price revert going down in significant price drop. That's why many brokers trade against us, meaning they do not hedge a risk of our trade and rather take opposite side of the trade. It's much cheaper to them because it provides higher profit from our failed trade than hedging our trades which claims their margin and causing them further costs when financing risk hedging of our trade. Should not we do the same?
That's how I understand spot fx and why I must agree what Niel, and partially Fractalfreak in his thread, are saying. That's also the reason why it does not much matter what kind of indy one will use either rsi2 or fast stochastic anything would work as confirmation mechanism with retail sentiment. It's not Holly grail though, losses are part of the trading, and proper risk management is another prerequisite to be successful of course. There are further details, like e. g. the fact that MM makes several markets at once so selling EUR on EURAUD can be neutralized buy buing EURCHF etc,... But it's for another thread.

That's my two cents to this topic, I hope it makes sense.
  • #2,443
  • Edited 9:03pm Aug 6, 2019 8:49pm | Edited 9:03pm
multi currency SSI dashboard by apprentice
http://fxcodebase.com/code/viewtopic.php?f=17&t=65683
Humble & Kalcker CLO2 = Covid killer
  • #2,444
  • Aug 6, 2019 9:25pm Aug 6, 2019 9:25pm
Quoting jusiur
multi currency SSI dashboard by apprentice http://fxcodebase.com/code/viewtopic.php?f=17&t=65683
For which platform is this for?
Trade what "Is", not what "If".
  • #2,445
  • Aug 6, 2019 10:13pm Aug 6, 2019 10:13pm
Quoting 4xu2
{quote} For which platform is this for?
.lua trading station
Humble & Kalcker CLO2 = Covid killer
  • #2,446
  • Edited 8:59am Aug 7, 2019 8:44am | Edited 8:59am
Quoting mcquak
{quote} We can discuss endlessly if volume is lagging or not,
It's like the saying goes, "you can't teach an old dog, new tricks".

People are used to what they are used to, even if they don't work.

It lags.... Isnt that obvious if the myfxbook changes from sell to buy or vise versa. Just like an MA cross or the macd - IT LAGS.

We are not talking here about when it crosses from a buy to sell or sell to buy... If Hanover wants to try and prove it doesn't work I won't stop him.... I know it does and that's all that matters.. Yes, it lags when they change from buy to sell.. But this thread is not about when it changes.

If the GBPJPY for instance is at 90% buy on myfxbook.. You only look for sells. Not rocket science is it?

Now is the JPY strong again today.. and what does myfxbook say on the JPY pairs. The majority are in trades trading against it. I take it the JPY is a very strong currency today.

But I will update with ICmarkets blocked the EA from running as they said it's not the amount of money it makes, but your EA exceedes over 25,000 server messages when there is a lot of movement in the market so at this time your EA has been blocked due to hyperactivity. We kindly ask you to check the settings of your EA and modify/disable the trailing stop orders as required.

Kind Regards,
Support | IC Markets

When the currencies took off, it was changing the trailing stop to fast though resulting in to many server messsages.
Time for some recoding of the stop loss.
The most violent element in society is IGNORANCE
  • #2,447
  • Aug 7, 2019 9:03am Aug 7, 2019 9:03am
Quoting neilsdigest
{quote}If the GBPJPY for instance is at 90% buy on myfxbook..You only look for sells. Not rocket science is it?
Precisely.
Some people will rather try to find reasons why it can not work instead of either think about the rationale behind or letting it be and looking for different/better methods ( better for them ) .
  • #2,448
  • Aug 7, 2019 9:15am Aug 7, 2019 9:15am
The only thing that doesn't lag price is value. If you know how to accurately value an instrument you will know when you are trading at a discount or a premium and therefore will know if you can buy something and sell it for more than its worth at a later date or visa versa for a sell.

How anyone can trade something that they cannot value is beyond me. Its just gambling if you dont know.

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Boxing clever since 76.
  • #2,449
  • Aug 7, 2019 9:18am Aug 7, 2019 9:18am
Quoting mcquak
{quote} Precisely. Some people will rather try to find reasons why it can not work instead of either think about the rationale behind or letting it be and looking for different/better methods ( better for them ) .
Seriously makes me laugh.. The RSI I use doesnt work. Lets spend all the time coding one to prove it. WHY?

This is from the EA trades today with using myfxbook and my version of the RSI as a strengh indicator before icmarkets blocked the EA from running as the JPY was going very strong as I mentioned it was changing the stop orders to often resulting in them banning it lol

People give up to easy. Find flaws instead of carrying on and if they don't like it.. Think it doesnt work go try something else.

Richard Branson. A self made billionaire....... The vast majority of his businesses FAILED. Did he give up. Where would he be today if he did?
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The most violent element in society is IGNORANCE
  • #2,450
  • Aug 7, 2019 9:23am Aug 7, 2019 9:23am
Quoting copi88
The only thing that doesn't lag price is value. If you know how to accurately value an instrument you will know when you are trading at a discount or a premium and therefore will know if you can buy something and sell it for more than its worth at a later date or visa versa for a sell. How anyone can trade something that they cannot value is beyond me. Its just gambling if you dont know. {image}
What is that VWAP or Hull Moving Average?

God I got absolutely bummed on gbpnzd. Didn’t take profit then the market went up 2%. Shit happens. I should have known it was a bad time to be trading for NZD strength. Took revenge and opened usdcad and usdjpy which went into immediate profits.

Didnt have time to finalise my account opening with IC Markets. Oanda let the trade go beyond my guaranteed stop. Do not - DO NOT use Oanda folks.

Can’t all be candyfloss and ponies!
  • #2,451
  • Aug 7, 2019 9:40am Aug 7, 2019 9:40am
Quoting Neogenesis
{quote} What is that VWAP or Hull Moving Average? God I got absolutely bummed on gbpnzd. Didn’t take profit then the market went up 2%. Shit happens. I should have known it was a bad time to be trading for NZD strength. Took revenge and opened usdcad and usdjpy which went into immediate profits. Didnt have time to finalise my account opening with IC Markets. Oanda let the trade go beyond my guaranteed stop. Do not - DO NOT use Oanda folks. Can’t all be candyfloss and ponies!
Might be best to stay out of the GBP at the minute as low liquidity and it might have spicks one way or the other.. Parliment is taking a break and most of the traders are on vacation.

But I'm usually wrong :-)

P.S I can't spell when I'm tired.. So take no notice ;-)

But after yesterdays counter trends it's been a very good day again.. Let's see if the EURGBP can make a new high before the weekend.
The most violent element in society is IGNORANCE
  • #2,452
  • Aug 7, 2019 9:51am Aug 7, 2019 9:51am
Quoting Neogenesis
{quote} What is that VWAP or Hull Moving Average? God I got absolutely bummed on gbpnzd. Didn’t take profit then the market went up 2%. Shit happens. I should have known it was a bad time to be trading for NZD strength. Took revenge and opened usdcad and usdjpy which went into immediate profits. Didnt have time to finalise my account opening with IC Markets. Oanda let the trade go beyond my guaranteed stop. Do not - DO NOT use Oanda folks. Can’t all be candyfloss and ponies!
No VWAP and MAs are indicators based on either price or volume and therefore lag. Value are the alternative markets or combinations of that are used by the institutions to build their intrinsic value models. These are also what they use in what is called statistical arbitrage trading.

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You would look to buy when price and value diverge and then get off the trade when value runs out.
The pension funds (green line) are not buyers of the EUR at the moment and so any move up is going to be limited
Boxing clever since 76.
  • #2,453
  • Aug 7, 2019 9:55am Aug 7, 2019 9:55am
Quoting neilsdigest
{quote} Seriously makes me laugh.. The RSI I use doesnt work. Lets spend all the time coding one to prove it. WHY? This is from the EA trades today with using myfxbook and my version of the RSI as a strengh indicator before icmarkets blocked the EA from running as the JPY was going very strong as I mentioned it was changing the stop orders to often resulting in them banning it lol People give up to easy. Find flaws instead of carrying on and if they don't like it.. Think it doesnt work go try something else. Richard Branson. A self made billionaire..........
Hi, neil the rsi you use is the one in post 778?. Thank you
  • #2,454
  • Aug 7, 2019 10:04am Aug 7, 2019 10:04am
Quoting nunez1
{quote} Hi, neil is the rsi you use is the one in post 778?. Thank you
Yes but it only works well on a linebreak chart. So a linebreak 1 chart taken from the daily candle chart. You can test it using tradingview. Linebreak 1 chart and add the rsi2 HLC/3.

In MT4 use the one fxbarwise coded.. https://www.forexfactory.com/showthread.php?p=12414599#post12414599
The most violent element in society is IGNORANCE
  • #2,455
  • Aug 7, 2019 10:13am Aug 7, 2019 10:13am
Quoting neilsdigest
{quote} Yes but it only works well on a linebreak chart. So a linebreak 1 chart taken from the daily candle chart. You can test it using tradingview. Linebreak 1 chart and add the rsi2 HLC/3. In MT4 use the one fxbarwise coded.. https://www.forexfactory.com/showthread.php?p=12414599#post12414599
Thanks Neal, Im trying to learn how to use this system
  • #2,456
  • Aug 7, 2019 10:19am Aug 7, 2019 10:19am
Quoting copi88
{quote} No VWAP and MAs are indicators based on either price or volume and therefore lag. Value are the alternative markets or combinations of that are used by the institutions to build their intrinsic value models. These are also what they use in what is called statistical arbitrage trading. {image} You would look to buy when price and value diverge and then get off the trade when value runs out. The pension funds (green line) are not buyers of the EUR at the moment and so any move up is going to be limited
This nice but this data is not available to common retailers, is it?
  • #2,457
  • Aug 7, 2019 10:20am Aug 7, 2019 10:20am
Quoting neilsdigest
{quote} Seriously makes me laugh.. The RSI I use doesnt work. Lets spend all the time coding one to prove it. WHY? This is from the EA trades today with using myfxbook and my version of the RSI as a strengh indicator before icmarkets blocked the EA from running as the JPY was going very strong as I mentioned it was changing the stop orders to often resulting in them banning it lol People give up to easy. Find flaws instead of carrying on and if they don't like it.. Think it doesnt work go try something else. Richard Branson. A self made billionaire..........
It is the way we have been wired, to look for loop holes without trials, that is why I like Hanover's findings only the discerning mind can build on it.

I am not against meaningful disagreements on method or strategy, but attitude and intention matters.

Peeps forget that you only need conservatively a strategy that works 55% of the time with good risk management to be successful in fx. I like the query and inquiry into the strategy but the insinuations is annoying.

Except you are an insider, every information that determines bias is lagged fundamentals or technicals. If the understanding is from this basis, I believe we can significantly increase our odds for success.

The approach in my own opinion is, whatever the strategy shared, how can I improve the body of knowledge or make it work for me else I disregard. Every strategy is personal.
D labour of a fool wearieth him cos he doesn't know how to enta d city
  • #2,458
  • Aug 7, 2019 10:27am Aug 7, 2019 10:27am
Nice modified RSI indicator of fxbarwise re-programmed by Hanover: Nice work @Hanover

https://www.forexfactory.com/showthread.php?p=12427014#post12427014
D labour of a fool wearieth him cos he doesn't know how to enta d city
  • #2,459
  • Aug 7, 2019 10:52am Aug 7, 2019 10:52am
Quoting mcquak
{quote} This nice but this data is not available to common retailers, is it?
It is. Built that model in Tradingview. You will need to pay for a data feed to get some of the values but otherwise anyone can do it.

The difference between us and the institutions is that they will not look at it like that. Those values will feed into an AI algo which will combine all the various values and give them a single value to trade from, whereas we have to interpolate the values and be vary of the scaling issues that occur as you are overlaying one market over another with completely different y axis.
So if I scale in on the chart it looks like I have value but if I scale out I dont.

Here is an example on Gold

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Boxing clever since 76.
  • #2,460
  • Aug 7, 2019 10:55am Aug 7, 2019 10:55am
Quoting lordgbengs
{quote} It is the way we have been wired, to look for loop holes without trials, that is why I like Hanover's findings only the discerning mind can build on it. I am not against meaningful disagreements on method or strategy, but attitude and intention matters. Peeps forget that you only need conservatively a strategy that works 55% of the time with good risk management to be successful in fx. I like the query and inquiry into the strategy but the insinuations is annoying. Except you are an insider, every information that determines bias is lagged...
I guess you do not know the whole context in which several people contributing positively in this thread are victims of verbal attacks on another site by anonymous group of stalkers. And especially Neil is being threatened by them. These people use Hanover's posts like hammer and evidence that subject of this thread is nonsense and can not work, which is pretty subjective as you rightly noted. Not Hanover"s fault of course, I just meant to put things into the context
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