Disliked{quote} Monty - also remember that the displayed number you are seeing is not pips but points - which is a 1/10 of a pip....all measurements in MT4 are in points...Ignored
- #3,844
- Edited 8:35pm Sep 17, 2019 7:42pm | Edited 8:35pm
{quote} My apprehension is "HOW MUCH DO THEY REPAINT?" And I don't yet know the answer to that question yet. Maybe this will only look good in hindsight. I HATE indicators that repaint, but maybe I can get over it.
How many bars repaints? Let say on H4 chart, you are applying higher time frame TMA in D1 calculations, which have Half-Length of 5.. that means 5 daily bars will be repainted and that is including the current daily daily bar.. so if current daily bar is 18 Sept, at the close of this bar, 12,13,16,17,18 Sept will be repainted.. If one usually uses half length 20, it means 20 daily bars will be repainted (including the current daily bar). If one uses current TF TMA with half-length of 20 bars, then 20 bars will be repainted including the current running one.
For me personally, TMA is good, even though it repaints.. I also use 3 TMA like DrDave, but the TF used is different as DrDave (if i'm not wrong DrDave once mentioned the usage of cTrader due to more TF options as he analyses doubling TFs... maybe DrDave could share the reasons why doubling TFs... totally interested in the reasons behind). I use H4-H1-M15 as per usual to trade in M15.. as it provides the general direction of 3 waves pictures (filter) as in post 2114. Sometimes it is so difficult to see where price is going using just candlesticks, maybe i'm just not good in PA yet.
Example below, a trade just taken, and 10pips is very easy per day as DrDave always mentioned if one can control and accept to let go the rest of the movement... It takes me weeks to change my mindset and i still can not 100% accept it, i still prefer the R concept, but it can certainly generate result. Oh, upper screenshot taken from MT4 as the indis are on MT4, but i trade real on MT5.
P.S the most important thing is that thank you so much for the generosity of SwingMan and Mladen who programmes the indis and shares the mql4 files..
EDIT: Frankly, i don't want to mislead people about TMA, see the screenshot i took before the trade is taken, H4 is down, H1 is up, but can see M15 in somehow someway in exhaustion, waiting for it to make a LH and for me most importantly show a close below a weekly open... Comparing this with NZDUSD and USDSGD, i chose AUDUSD as the sign of exhaustion is much clearer even though the H4 is all showing down.. The screenshot before trade is taken, TMA is so ugly(contradicts with H4, lower band is rather flat, as though PA doesn't want to go down again, however we have to note it can still repaints), after the trade is done, the TMA is repainted and looks so beautiful (it works)... Thus, can not be used as signal, but definitely helpful.
{quote} Hi RH, there is a v2.1 for that in post 1 of 'LazyTMA trading' thread. A Example below, a trade just taken, and 10pips is very easy per day as DrDave always mentioned if one can control and accept to let go the rest of the movement... It takes me weeks to change my mindset and i still can not 100% accept it, i still prefer the R concept, but it can certainly generate result.... {image}
The anomaly is the RH method I believe we need to uterlise how this method works to our benefit, im still testing it in addition to S&R/ Breakout levels.
I also have a theory why a pair will reverse and hit your stop loss and it is the same reason that makes you struggle to hit 1R, 1.5R /2R when right, then ask yourself of all your trades that you open day to day how many do that for you.
However I must admit it will require traders to have a decent experience of the markets, many on here will manage but newbies will struggle until they put in the "flight hours" navigating and understanding the flight instruments
The more you learn, the more you see
- #3,846
- Sep 18, 2019 12:39am Sep 18, 2019 12:39am
- Joined Apr 2019 | Status: Trader | 1,997 Posts
{quote} DrDave and I share an understanding there! I'm working on a concept to dispel this perception of the R Concept (or infact tweak it actually), in my approach one is able to save alot of time and hit a very visible target much faster. I have been doing 5% growth per day when trading over the last 3 months now, I have since started testing 10% growth per day; most recent I've done it on a 5k account for 2 weeks consistently now (risking 4 -5% equity per trade). The strategy is the same whether you have $1000, $5000, $50,000, $100k, $1000 000...
- #3,847
- Edited 1:17am Sep 18, 2019 1:06am | Edited 1:17am
- Joined Aug 2018 | Status: Trader | 343 Posts
{quote} Tell us more bossman.
By the way just clear to be clear on something, that i can see creating confusion : I dont increment a new balance by 5 - 10% each day, therefore compounding it day to day.
At start of a given month; I'll look at the equity balance and set the 10% daily goal for that 'respective month' based on the balance, (or it could be done week to week I guess) but month to month is perhaps a better measured approach for me because you will be changing your position sizing. At the end of said month one then looks at the equity balance to set the % target for the next 22 days (ie. month) and so on and so on... hope that makes sense. sorry for any confusion (equates to approx 200% growth month to month)
The more you learn, the more you see
{quote} I briefly explained it in the post. I wrote: "I am using it to prevent me from taking trades in the opposite direction that the two bands are pointing AND as a way to stay in trades longer by staying with the trend." If both bands are pointing up, I only trade long. If both bands are pointing down, I only trade short. If I am in a trade and price is moving in the same direction GENERALLY OVERALL then they help me stay with the trade longer than I would have without them. Aside from that... I think I have found another indicator that improves...
i looked a while ago at superimposing 3 TrueTMA bands on price
Below is the same pair for H1 TF
Works very well sometimes as per this example. Coincidence of 3 TF extremes.
Not so well in others. Obviously a ranging market is best
I have enclosed the indi so you can explore further if you're interested
Below is the same pair for H1 TF
Works very well sometimes as per this example. Coincidence of 3 TF extremes.
Not so well in others. Obviously a ranging market is best
I have enclosed the indi so you can explore further if you're interested
- #3,852
- Sep 18, 2019 3:53am Sep 18, 2019 3:53am
- | Membership Revoked | Joined Jun 2011 | 9,885 Posts
To free Gazans of Hamas, use whatever it takes.
- #3,853
- Sep 18, 2019 4:23am Sep 18, 2019 4:23am
- Joined Jul 2009 | Status: Trade What U See Not What You Think | 1,761 Posts
Always a Student, Never a Master - Emulate What Works
- #3,854
- Sep 18, 2019 4:31am Sep 18, 2019 4:31am
- Joined Jul 2009 | Status: Trade What U See Not What You Think | 1,761 Posts
Always a Student, Never a Master - Emulate What Works
- #3,855
- Sep 18, 2019 5:17am Sep 18, 2019 5:17am
{quote} Thank you for the detailed explanations. That clears things up for me quite a bit. Can you share the TMA indicators you used in your very top image and their settings? I would like to compare all of the different TMA indicators to each other that I can find to see which one may be the most useful.
The one i use : TMA+CG 4C AA MTF TT.mq4
I also encounter VWMA+CG 4C AA MTF TT.mq4
There is one more indicator too from 'NIH98 Journal of Whatever' post 1 and you can apply all the different types of MA for it... The first 20 pages has many good information about how the OP traded and can find many really useful indicators mod by him.. I don't know him, but from his posts there and in this 'MM (Money Maker) Detective Indicator' thread, his trading explanation is superb, the way he use indicator is really cool too, and we can know that he is a veteran trader, great programmer with really cool ideas, earns from trading too.. a lot.. lol.. however sadly he recently doesn't post anymore..
The settings that i used for TMA+CG 4C AA MTF TT.mq4 actually changed from the initial setting provided by the indicator,
then to TF set H4 and current, Halflength 20, Close Price, Deviation 2.6,
then to H4, H1 and current TF, Halflength 20, Close Price, Deviation 2.0,
then after reading 'NIH98 Journal of Whatever', it changes to H4,H1 and current TF, Halflength 18, Median Price, Deviation 2.1. (examples attached, only differs in colour and timeframe).. following blindly vortex math.. haha.. frankly, it doesnt matter for me as stated in the previous post.. yup.
have fun
- #3,856
- Sep 18, 2019 5:52am Sep 18, 2019 5:52am
{quote} DrDave and I share an understanding there! I'm working on a concept to dispel this perception of the R Concept (or infact tweak it actually), in my approach one is able to save alot of time and hit a very visible target much faster.
Then from 'Daily Trading Ideas...' thread, i think maflip (he earns from forex everyday, really cool and fun trader) mentioned: with the trend -> be greedy (for me, R system can be applied here as we don't know where it will end -> Emm multiple exit strategy), then not with the trend -> scalp (here, DrDave 5/10 pip profit system can be used).. also there akim0895 (very friendly trader and OP) is really amazing too, he get hundreds of pips per day just focusing on XAUUSD and GBPUSD and sometimes the rest of majors, totally amazing.. if i'm not wrong, he divides into 5 position, multiple entry, then 4 scalp, the other one is left with BE+ a little pip and the trade may last for days and he gets like 3 digits pips with crazy amount of lots..
Also, there is one successful trader from Taiwan, he seldom posts, i forget his nick and thread, the most recent case in FF TE, he earned like 70000% real account id i didn't remember wrongly too.. yup, crazy.. he has busted 190+ account, then now he is earning much more than that.. his SL is like 10% of account, but his TP is like 30-40%..
There is another thread too, similar like Taiwan guy, different approach in money management, here and i only read the first post, but haven't try it out yet, but i think it is certainly doable..
so marcus, i hope you will be sharing your knowledge too
green pips btw
{quote} Thanks for your comments and insights Marcus. Do you have a specific reason for not aiming for 10% per day based on your current balance that day? The reason I ask is because if you aimed for gaining 5 - 10% on your current balance each new day, the compounding effect would be astronomical.
However the logic based on what I've suggested earlier should work with correctly increasing position sizing to match said balance...
The thought comes to mind; if changing your position sizing on a daily might be too disruptive and therefore kill ones momentum or pattern of habit as you don't really get a chance to consistently work with a position size on your lots because you increase it daily to accommodate your new equity balance. I don't think I would enjoy it.
May be one for the future, but for now I will walk before I start running not so long ago I arrived to your thread, crawling....
The more you learn, the more you see
- #3,858
- Sep 18, 2019 6:20am Sep 18, 2019 6:20am
- Joined Jul 2009 | Status: Trade What U See Not What You Think | 1,761 Posts
Always a Student, Never a Master - Emulate What Works
- #3,859
- Edited 8:30am Sep 18, 2019 6:34am | Edited 8:30am
- Joined Aug 2018 | Status: Trader | 343 Posts
{quote} Hi marcus, imho, just sharing, the R concept works.. remember the video posted by Emm? The one that contain information about Lottery sytem and Insurance system in trading forex.. Lottery system -> Emm W1 trades.. Insurance system -> the way DrDave takes profits... Then from 'Daily Trading Ideas...'
Wow, those are some crazy numbers, Akim0895 seems to use the same strategy multiple entries, multiple exits.
Also XAUUSD is my favourite pair to trade . If you get a feel for its rhythm, learning how to get on and off that train you will make some AMAZING profits but that bullet train loves to eat up the greedy, I'm always happy to get off with modest gains. 20 Day average is 223pips One really needs to have correct position sizing to trade that pair.
The more you learn, the more you see
- #3,860
- Sep 18, 2019 7:01am Sep 18, 2019 7:01am
{quote} Thank you very much for all the info. What is the name of the zig zag set of yellow bands, and what are the settings?
Do you mean the step like bands? TMA+CG 4C AA MTF TT.mq4 -> Inputs tab: Time Frame (click it once or twice) then select H1 and change the colour to yellow; while the orange one is TimeFrame: Current, Light salmon colour is H4.. same setting for all as posted above except different time frame applied on M15.
