Alain
Thanks for dropping by and posting, I am not to sure if we need to hone in on Vegas too much more, as to me we have the concept as to the importance he attached to range and the relationship to the open I am just trying to simplify it for a dumb guy like me to use
Dave
The problem is that the description is nice, but with intention or not, is probably wrong ...
Analyze the "Currency Daily System" here in forum, and one sees that to the moving average will be added, e.g. for Model # 1 at the Avg (28) 89, 144 and 233 pips!
No ATR, no factor, nothing. This means that the same distances are calculated for all pairs. That's not fantastic! (Quote: Vegas is a nickname for a former local trader named Barry Haigh, who achieved fantastic gains as a forex trader)
...we have the concept as to the importance he attached to range and the relationship to the open
Ignored
For sure!
I only mentioned the Vegas-Tunnel because the grid you are using is quite simple and I will program it.
On pages 8 and 9 in the file which I have posted is described how to actually calculate the practical bar range and deviations, but without describing how to actually trade.
{quote} For sure! I only mentioned the Vegas-Tunnel because the grid you are using is quite simple and I will program it. On pages 8 and 9 in the file which I have posted is described how to actually calculate the practical bar range and deviations, but without describing how to actually trade.
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George
Found that a second or re read of something is never wasted time, thanks for you and Parisboy for posting the links, never forgetting my aim is always to trade in the simplest and most effective way possible
Dave
{quote} My motto is: "Why easy if complicated is another option?"
Ignored
Yes I understand what you mean as I can remember in the days when my brain was sharp I could cope with an array of charts like this but I am afraid things are slowing down now
Just trying to jump on the Range expansion as it builds from the Open, There are NO different setting it's constant from time-frame to time-frame but initial Risk varies from pair to pair in The GbpUsd case its around 31 pips In the case of the GbpAud initial risk is around 46 pips, which is more than I am comfortable with so I let the trend/expand a little more and trade only 1 level/box of risk which is around 23 pips The idea is very simple controlled RR same setting and rules for all pairs and time-frames , history on chart to the left to check...
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Great work sir Papa SwingMan.
Dave love your setup please can you post the indicators you are using on these setup ?
Sunny2way,
You need Murrey Math or Murey Math Line you can go to ARD777 profile ,you will find that indicator .Hope that what you are looking for.
Cheer ,
Munchie
{quote} Hi giselle1723 Thanks for interest and posting your charts, I have looked into Nih98 sweetspot indicator before but as (I Think I know a little about MurreyMaths) could not make my mind up which one was better) will take a look at your complete setup a little latter today, looks interesting but I just have a concern about M/avges Please keep posting Thanks Dave ps My rather simple chart in action and a clean Murrey Maths Chart {image} {image}
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Hellow,OAPDave
Regarding Nih sweetspot indi, from my observation for a few month, when the price bar penetrates the second dotted line(with body,no wick),
then the price will reach the thick line with a probability of 90%. And also, the price fails to penetrate the thick line(with body,no wick), then the price will turn back.
This is in intraday trading case. I don't know why this happen.
Sweetspot indi setting;thick line 46pips(a half of ADR126), dotted line 11.5pips
{quote} Hellow,OAPDave Regarding Nih sweetspot indi, from my observation for a few month, when the price bar penetrates the second dotted line(with body,no wick), then the price will reach the thick line with a probability of 90%. And also, the price fails to penetrate the thick line(with body,no wick), then the price will turn back. This is in intraday trading case. I don't know why this happen. Sweetspot indi setting;thick line 46pips(a half of ADR126), dotted line 11.5pips Thanks
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Giselle1723
To me that's a great spot and that gives an edge to make a trade, that is exactly why I do try to keep my charts as clean as possible so my eyes can spot patterns that repeat, like you have done.
Thanks indeed for that
Dave
ps
You have spotted a very similar rule that Murrey mentions in his trade entry method
