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Up and under price pattern

  • #3,301
  • Nov 4, 2020 3:24am Nov 4, 2020 3:24am
missed it.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #3,302
  • Nov 4, 2020 3:30am Nov 4, 2020 3:30am
Quoting Inthebox
missed it. {image}
Trend too strong today to retest. TBH the price moved so quickly my EA failed to enter trades in another strategy even I coded it to retry for 5 times in row...
  • #3,303
  • Nov 4, 2020 3:43am Nov 4, 2020 3:43am
Quoting tommydoginti
{quote} Trend too strong today to retest. TBH the price moved so quickly my EA failed to enter trades in another strategy even I coded it to retry for 5 times in row...
today US election day. so expected.
do you make ea and test?
i would like to test on RSI mtf but do not have the faintest idea how to do it.
ITB - Seeing Orderliness amongst 'Randomness'
  • #3,304
  • Nov 4, 2020 4:01am Nov 4, 2020 4:01am
Quoting Inthebox
{quote} today US election day. so expected. do you make ea and test? i would like to test on RSI mtf but do not have the faintest idea how to do it.
my coding skill is not so good but so far can fit my own need. For divergence and PA trade I probably have to keep manual for now.

I code auto trade EAs for MT4, and not a single bit of indi on charts, just text feedback so I know they are working. For indi I code them on TradingView

what is the condition you are looking for on MTF RSI?
  • #3,305
  • Nov 4, 2020 4:33am Nov 4, 2020 4:33am
Quoting tommydoginti
{quote} my coding skill is not so good but so far can fit my own need. For divergence and PA trade I probably have to keep manual for now. I code auto trade EAs for MT4, and not a single bit of indi on charts, just text feedback so I know they are working. For indi I code them on TradingView what is the condition you are looking for on MTF RSI?
thanks.
i will send you from my ff journal later.
do not want to choke this thread.
ITB - Seeing Orderliness amongst 'Randomness'
  • #3,306
  • Nov 4, 2020 4:41am Nov 4, 2020 4:41am
Quoting tommydoginti
{quote} what is the condition you are looking for on MTF RSI?
here
ITB - Seeing Orderliness amongst 'Randomness'
  • #3,307
  • Nov 4, 2020 6:46am Nov 4, 2020 6:46am
Quoting Inthebox
{quote} here
Yes. I also notice the major issue with divergence indicators are almost impossible to be automated due to need of manual input for period "lookback". Better to do manually.

Same for QM. I guess it is better off to perform manual analysis rather than spending so much time figuring out how to code the pattern recognition into non-AI codes like MQL4.

Let's stay on sharing the charts then
  • #3,308
  • Nov 4, 2020 7:25am Nov 4, 2020 7:25am
Quoting tommydoginti
{quote} Yes. I also notice the major issue with divergence indicators are almost impossible to be automated due to need of manual input for period "lookback". Better to do manually. Same for QM. I guess it is better off to perform manual analysis rather than spending so much time figuring out how to code the pattern recognition into non-AI codes like MQL4. Let's stay on sharing the charts then
will do.
ITB - Seeing Orderliness amongst 'Randomness'
  • #3,309
  • Nov 4, 2020 9:11am Nov 4, 2020 9:11am
Quoting Inthebox
if price ever comes down, potential bullish qms. {image}
managed to squeeze some.
could have gotten 40 pips.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #3,310
  • Nov 4, 2020 8:44pm Nov 4, 2020 8:44pm
asia session
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ITB - Seeing Orderliness amongst 'Randomness'
  • #3,311
  • Nov 5, 2020 5:15am Nov 5, 2020 5:15am
today's london session is ranging due to the suspense of us presidential election.
may carry into new york session.
ITB - Seeing Orderliness amongst 'Randomness'
  • #3,312
  • Nov 5, 2020 8:09am Nov 5, 2020 8:09am
london session.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #3,313
  • Nov 5, 2020 8:46am Nov 5, 2020 8:46am
the past few days, i have been doing usdcad. you can have your favorite pair or two.
daily has 1-3 set ups.
if say, targeting 20 pips (or up to individual) each trade for 1% equity increase or loss each day.
it is reasonably doable. the key word is consistency.
or say 5% each week or 20% each month, as may not be winning everyday.
with compounding, you will be surprised on what you will get at the end of one year, two years ...... do the math.
ITB - Seeing Orderliness amongst 'Randomness'
  • #3,314
  • Nov 5, 2020 9:39am Nov 5, 2020 9:39am
Quoting Inthebox
the past few days, i have been doing usdcad. you can have your favorite pair or two. daily has 1-3 set ups. if say, targeting 20 pips (or up to individual) each trade for 1% equity increase or loss each day. it is reasonably doable. the key word is consistency. or say 5% each week or 20% each month, as may not be winning everyday. with compounding, you will be surprised on what you will get at the end of one year, two years ...... do the math.
Getting the best setup to trade is definitely a trial of your patience, but I agree that a profitable day/month only need a small number of winning trades. Better get the best edge you can rather than gambling.

I got EU. Confirmed by a signal I created.
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  • #3,315
  • Nov 5, 2020 9:55am Nov 5, 2020 9:55am
Quoting tommydoginti
{quote} Getting the best setup to trade is definitely a trial of your patience, but I agree that a profitable day/month only need a small number of winning trades. Better get the best edge you can rather than gambling. I got EU. Confirmed by a signal I created. {image}
it's more of a waiting thing than anything. listen to Jesse. sitting and waiting most of the time for qm pattern.
https://www.forexfactory.com/thread/...5#post13242375
maybe why don't you try for one week on watching 2 pairs.
day trading 15-20 pips for 1%.
ITB - Seeing Orderliness amongst 'Randomness'
  • #3,316
  • Nov 5, 2020 10:54am Nov 5, 2020 10:54am
Quoting Inthebox
{quote} it's more of a waiting thing than anything. listen to Jesse. sitting and waiting most of the time for qm pattern. https://www.forexfactory.com/thread/...5#post13242375 maybe why don't you try for one week on watching 2 pairs. day trading 15-20 pips for 1%.
actually I keep an eye out on 4-5 pairs. But my day is also occupied by my day time job (WFH though) and also am trying to develop strategies that suit my trade style based on some ideas found here and other places. Also practice writing EAs and scripts on TradingView. So yea at this stage I am very distracted from any single strategy, but I probably will take another month or so to shortlist 1-2 and then focus on more pairs.
To avoid any accidents in the trades, I now just look at 1-2 pairs for QM and actually place orders

Better earn and learn, play safe in the beginning, then learn but lose
  • #3,317
  • Nov 6, 2020 5:40am Nov 6, 2020 5:40am
london session
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ITB - Seeing Orderliness amongst 'Randomness'
  • #3,318
  • Nov 9, 2020 3:35am Nov 9, 2020 3:35am
Took a shortsell trade in Indian stock. Price reached the QM Zone in H1. https://www.tradingview.com/x/KNOwPblR/

Entry couldn't be taken at the QM line (@1268) since price gapped up during open but entered close to that range(@1260). It moved little lower but reversed and hit the SL.

Other than it being counter trend, any likely things to take care of in future?
  • #3,319
  • Nov 9, 2020 3:46am Nov 9, 2020 3:46am
Quoting rmchokku
Took a shortsell trade in Indian stock. Price reached the QM Zone in H1. https://www.tradingview.com/x/KNOwPblR/ Entry couldn't be taken at the QM line (@1268) since price gapped up during open but entered close to that range(@1260). It moved little lower but reversed and hit the SL. Other than it being counter trend, any likely things to take care of in future?
If I were you and had checked the chart sometime during the second right dotted line, and saw a retest close to QM zone and not hitting my order (the last spike up before your entry), I would have cancelled the order and waited for the next opportunity.

Sometime the retests are not going back to QM zone, and still the QM zone should be considered “voided” as the price are more likely not respecting the level again. Its my observation
  • #3,320
  • Nov 9, 2020 4:02am Nov 9, 2020 4:02am
Quoting rmchokku
Took a shortsell trade in Indian stock. Price reached the QM Zone in H1. https://www.tradingview.com/x/KNOwPblR/ Entry couldn't be taken at the QM line (@1268) since price gapped up during open but entered close to that range(@1260). It moved little lower but reversed and hit the SL. Other than it being counter trend, any likely things to take care of in future?
general sharing of opinion.
the following does not concern pending trades (as one unable to see any price action).

if there is h1 red candle reaction to qm zone, take note of size of candle, whether engulf, pin, 3 bar reversal, etc .......
i can only see 2 red candles.

go to m5 or m15 and wait for pullback.
then apply following filters for entry:
upward sloping trend line break, and/or
macd or rsi below zero or 50 line.

i reckon that the filters would have kept out any selling trades.
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ITB - Seeing Orderliness amongst 'Randomness'
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