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  • #921
  • Apr 30, 2020 2:58am Apr 30, 2020 2:58am
Quoting stu48
GM Laura, Do you ever take any notice of big number ?
Morning

I guess I do, subconsciously.

I don't put any lines on my charts at big numbers but I'm usually aware of them as potential take profit or reversal areas. Probably not something I'd include as I'm not convinced the success rate is high enough. Could be wrong there though.
  • #922
  • Apr 30, 2020 3:09am Apr 30, 2020 3:09am
Quoting LauraT
{quote} Hi The values should be the same. Check that you have Monthly timeframe disabled in both of them.
I've disabled all time frames except for the 5min as this is the one I'm using for trading, will that be OK?
  • #923
  • Apr 30, 2020 3:14am Apr 30, 2020 3:14am
Quoting jan.forex
{quote} I've disabled all time frames except for the 5min as this is the one I'm using for trading, will that be OK?
Ah, no.

The timeframes we take readings from are 4H, Daily, Weekly (regardless of which timeframe you are trading).
  • #924
  • Apr 30, 2020 3:21am Apr 30, 2020 3:21am
Quoting LauraT
{quote} Ah, no. The timeframes we take readings from are 4H, Daily, Weekly (regardless of which timeframe you are trading).
Thanks for helping
  • #925
  • Apr 30, 2020 3:32am Apr 30, 2020 3:32am
Quoting LauraT
{quote} I trade the indices on 1m timeframe predominantly. The big difference with indices on that timeframe is that you cannot afford to wait for everything to line up. As you'll know, counter-trend moves can be substantial and we want to capture both. So, I would simply take fresh channel crosses or channel failures and trade in accordance with the channel and SMA. Hope this helps.

Hi Laura

Sticking with indices, how important is RSI?

Also does same apply with oil?

Many thx
It's a dirty job but someone's gotta do it!
  • #926
  • Apr 30, 2020 3:34am Apr 30, 2020 3:34am
good morning
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  • #927
  • Apr 30, 2020 3:46am Apr 30, 2020 3:46am
Quoting LaBoca
{quote} Hi Laura Sticking with indices, how important is RSI? Also does same apply with oil? Many thx
Hi

For 1m indices/oil it is less important.

The CompositeRSI reading gives us a great indication of the predominant trend but it's focused on higher timeframes. By the time you wait for RSI to change from bearish to bullish, you could have caught a counter-trend move that's huge.

I did experiment with shorter timeframe RSI but found it too noisy. I will keep trying though and will release 1m settings if I'm successful.

Hope this helps.
  • #928
  • Apr 30, 2020 4:03am Apr 30, 2020 4:03am
Quoting LauraT
{quote} Hi For 1m indices/oil it is less important. The CompositeRSI reading gives us a great indication of the predominant trend but it's focused on higher timeframes. By the time you wait for RSI to change from bearish to bullish, you could have caught a counter-trend move that's huge. I did experiment with shorter timeframe RSI but found it too noisy. I will keep trying though and will release 1m settings if I'm successful. Hope this helps.
Quote
1. Channel Cross - When the EMA channel fully crosses to the other side of the SMA.

2. Channel Failure - When the EMA channel gets partially across the SMA but then returns to the previous side.
Hi Laura,
Would you clarify this for me, does the CompRSI have to agree with the channel cross and is the exit based on crossing back only or the change in the compRSI?
Thanks
  • #929
  • Apr 30, 2020 4:16am Apr 30, 2020 4:16am
Quoting jado911
{quote} {quote} Hi Laura, Would you clarify this for me, does the CompRSI have to agree with the channel cross and is the exit based on crossing back only or the change in the compRSI? Thanks
Hi

The CompRSI will never impact your exits. We primarily use it to enter with the dominant trend.

As I said above though, we differentiate between 1m indices/oil and 5m/15m currencies. For the currency entries, we want CompRSI to agree with channel cross direction. I originally didn't mention this different approach as I didn't want to muddy the waters but, now that there are people trading the 1m indices/oil, it seems timely to explain.

Hope this helps clarify.
  • #930
  • Apr 30, 2020 4:23am Apr 30, 2020 4:23am
Finding it slightly slow today no entries so far. Being patient
  • #931
  • Apr 30, 2020 4:26am Apr 30, 2020 4:26am
Quoting james.trades
Finding it slightly slow today no entries so far. Being patient
Yes same here, no real opportunities so far, at least from what I've seen...
  • #932
  • Apr 30, 2020 4:34am Apr 30, 2020 4:34am
Yeah, all pairs going or are on the opposite way of the MA's. It should reverse in NY session.
Anything above the line is an uptrend, below the line is a downtrend.
  • #933
  • Apr 30, 2020 4:37am Apr 30, 2020 4:37am
Quoting Barraka
{quote} Yes same here, no real opportunities so far, at least from what I've seen...
Hi, I've been following you for a couple of days and I'm trying to better understand Laura's great sharing job.
UsdCad and CadJpy are not good opportunities?
  • #934
  • Apr 30, 2020 4:41am Apr 30, 2020 4:41am
Quoting FrancescoDTM
{quote} Hi, I've been following you for a couple of days and I'm trying to better understand Laura's great sharing job. UsdCad and CadJpy are not good opportunities?
I've been in CADJPY since earlier this morning
  • #935
  • Apr 30, 2020 4:45am Apr 30, 2020 4:45am
Quoting FrancescoDTM
{quote} Hi, I've been following you for a couple of days and I'm trying to better understand Laura's great sharing job. UsdCad and CadJpy are not good opportunities?
Hi, know the question wasn't aimed at me but I'm avoiding UCAD as its at the previous days low and markets ranging, for the whole of today it's moved sideways. Personal preference but for channel continuation trades I like to see a more aggressive move rather than sort of aimlessly stumbling into the MA. That's how I see it anyway! Happy pippin'
  • #936
  • Apr 30, 2020 4:45am Apr 30, 2020 4:45am
For Traders of 1m Indices/Oil

I want to highlight a way of using CompRSISelectv2 (available in post 1) that might be useful to those who trade 1m indices/oil.

The indicator settings are 15/60/0/0 and you should add lines at 55 and 45. Above 55 is bullish, below 45 is bearish.

It's not perfect but I think it will hopefully act as a good general guide of momentum. Do feel free to play around with settings and let me know how you get on with it.

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  • #937
  • Apr 30, 2020 4:57am Apr 30, 2020 4:57am
Quoting LauraT
{quote} I've been in CADJPY since earlier this morning
Nice! I had set an alert at 76.57, didn't quite get there and now it's rallied completely. You entered based on M1?
  • #938
  • Apr 30, 2020 5:04am Apr 30, 2020 5:04am
Quoting Barraka
{quote} Nice! I had set an alert at 76.57, didn't quite get there and now it's rallied completely. You entered based on M1?
I got in based on the 5m. It had made a bullish channel cross and had taken out the previous day's high.
  • #939
  • Apr 30, 2020 6:11am Apr 30, 2020 6:11am
Potential sell set-up EC.
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  • #940
  • Apr 30, 2020 6:13am Apr 30, 2020 6:13am
EJ also close.
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