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Trading Focal Points -- "A Leap Of Faith"...

  • #181
  • Edited 3:02pm Mar 25, 2022 2:37pm | Edited 3:02pm
Quoting robots4me
{quote} Ahhh -- 'Confirmed' and 'Potential' Focal Points -- excellent, I got it. Thank you...
Robots4me For your calculations you can generate a Synthetic Focal Point within your Tolerance parameters

No need for a Synthetic Focal point when CMA 16 and CM 32 intersects

But let's suppose CMA 16/ 32 crosses at 100, CMA 32/64 at 102 and CMA 16/64 at 103, you can average the intersection values and build a Synthetic Focal Point

(100+102+103) = 305 / 3 = 101.666
?
  • #182
  • Mar 25, 2022 2:47pm Mar 25, 2022 2:47pm
Quoting robots4me
{quote} Right -- got it. Here's a question: Your chart has a mixture of Confirmed and Potential FPs. How would you trade it? What do you do when Confirmed and Potential disagree?

Let's see how it has moved in several minutes

Potential Focal Points are confirmed which brings nothing to calculate Target Price

But we see a Double Top Pattern

CMA 256 has made its Top
CMA 128 is building its second Top

I would be ready to Short
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  • #183
  • Mar 25, 2022 2:54pm Mar 25, 2022 2:54pm
EURCHF 1 mn

Opened Short position
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  • #184
  • Mar 25, 2022 2:59pm Mar 25, 2022 2:59pm
EURCHF 1 mn

Short Follow Up
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  • #185
  • Mar 25, 2022 3:08pm Mar 25, 2022 3:08pm
Potential Target 1,0280

Intermediary Target 1,02180
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  • #186
  • Mar 25, 2022 3:45pm Mar 25, 2022 3:45pm
Target 1,02140 +/-24
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  • #187
  • Mar 25, 2022 4:02pm Mar 25, 2022 4:02pm
Target reached
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  • #188
  • Mar 25, 2022 5:20pm Mar 25, 2022 5:20pm
Hey R4M,

Checking out this Focal Points on Chart indi and am trying to test it on the strategy tester but its not properly updating. Is there any way we can rectify that?

Thanks buddy
  • #189
  • Mar 25, 2022 6:32pm Mar 25, 2022 6:32pm
Quoting parisboy
{quote} Let's see how it has moved in several minutes Potential Focal Points are confirmed which brings nothing to calculate Target Price But we see a Double Top Pattern CMA 256 has made its Top CMA 128 is building its second Top I would be ready to Short {image}
Okay -- you say you would "be ready" to short. I don't know what "be ready" means. What do you have to see in order to pull the trigger?
  • #190
  • Mar 25, 2022 9:43pm Mar 25, 2022 9:43pm
Hi Robots4me and Parisboy,

I am planning strategies to trade Gold so that my trades are more secure when I start trading in my Live account and I want your opinion.

I am going to use the market insight which my account manager (Broker - BDSWISS) send me daily. It includes Pivot number and long targets and short targets.

I am also going to use the strategy which most of trader use it. Trader look at bigger time frame for trend and then trade in smaller time frame. I am going to look target in bigger time frame and then trade in Gold in M1 time frame.

what do you guys think and is there anything which I can add?

Thanks for all yours efforts.
Love for all; Hatred for none.
  • #191
  • Mar 25, 2022 9:55pm Mar 25, 2022 9:55pm
Quoting robots4me
{quote} Okay -- you say you would "be ready" to short. I don't know what "be ready" means. What do you have to see in order to pull the trigger?
Hindsight traders don't pull trigger.
Practice makes a person perfect
  • #192
  • Mar 26, 2022 2:32am Mar 26, 2022 2:32am
Quoting parisboy
Objectif atteint {image}
Tres beau trade ! Anticipation, prise de position, cible
  • #193
  • Mar 26, 2022 3:28am Mar 26, 2022 3:28am
Quoting aahmad29
Hi Robots4me and Parisboy, I am planning strategies to trade Gold so that my trades are more secure when I start trading in my Live account and I want your opinion. I am going to use the market insight which my account manager (Broker - BDSWISS) send me daily. It includes Pivot number and long targets and short targets. I am also going to use the strategy which most of trader use it. Trader look at bigger time frame for trend and then trade in smaller time frame. I am going to look target in bigger time frame and then trade in Gold in M1 time frame....
Hello @aahmad29 -- there is not much I can add. That is way more analysis than I do -- probably because I primarily trade EAs. When discretionary trading I look at the here and now -- I trade what I see.

There's no right or wrong approach. Continue what you are doing, and keep your eyes and ears open. Hopefully you will find a routine that consistently works for you -- both from a profit standpoint and one that fits your schedule and the style you like to trade. For example, I could never trade M1 -- I'm just not a screen-starer. I mean, I could if I had to -- but I don't have the patience and don't enjoy trading that way.

Others take a different approach and they are free to share that with you here...
  • #194
  • Mar 26, 2022 3:29am Mar 26, 2022 3:29am
Quoting simnz
{quote} Hindsight traders don't pull trigger.
What's your point? Are you calling me or @parisboy a hindsight trader? I hope not -- you might find yourself standing on shaky ground...
  • #195
  • Edited 4:57am Mar 26, 2022 4:36am | Edited 4:57am
Quoting simnz
{quote} Hindsight traders don't pull trigger.
simnz I do not understand your remark about "Hindsight trader". Why this remark ? Why now ? why you ?

your remark looks like false common sense. It looks good, realist but it is a generality which is enough true to have some credibility, but generally is never tested by the poster on the specific case he coments. It is like "repainting" another magic word

we are ALL "Hindsight" traders in some way. Because all what we do is inspired by the past.

https://www.forexfactory.com/thread/...torical-levels. Your thread title shows you use historical levels. Isn't it "hindsight" in some way ?

Chart Patterns - I have already seen this thing - for example Double Tops or Bottoms
Trends " Follow the Trend" " The Trend is my friend". Concretly it means that the trader hopes that the "Trend Direction" will go on as much time as possible so that he can benefit of it.

Let's go to the present story :

https://www.forexfactory.com/thread/...0#post13946530

In post 182 of this thread at 8.47 pm I generate an analysis of EURCHF 1 mn based on Double Tops. And conclude "I am ready to Short"

https://www.forexfactory.com/thread/...6#post13946536

In post 183 at 8.54 pm - 7 minutes later - "I pulled the trigger" opening a Short position

https://www.forexfactory.com/thread/...1#post13946541

In post 184 at 8.59 pm - 5 minutes later - I posted a Trade Follow Up

https://www.forexfactory.com/thread/...5#post13946545

In post 185 at 9.08 pm - 9 minutes later - I posted a First Target estimation

https://www.forexfactory.com/thread/...2#post13946572

In post 186 at 9.45 pm - 37 minutes later - I posted a second Target estimation revised somewhat lower

https://www.forexfactory.com/thread/...5#post13946585

Finally in post 187 at 10.02 pm - 17 mn later - I posted that the target was reached

Where do you see in this process "hindsight trading ?"
  • #196
  • Mar 26, 2022 6:16am Mar 26, 2022 6:16am
Quoting parisboy
{quote} simnz I do not understand your remark about "Hindsight trader". Why this remark ? Why now ? why you ? your remark looks like false common sense. It looks good, realist but it is a generality which is enough true to have some credibility, but generally is never tested by the poster on the specific case he coments. It is like "repainting" another magic word we are ALL "Hindsight" traders in some way. Because all what we do is inspired by the past. https://www.forexfactory.com/thread/...torical-levels....
@parisboy -- your posts are great. And there are those of us who are following along. I asked a simple question, and @simnz -- for whatever reason, perhaps envy -- chose to take that opportunity to insult us. He doesn't have the slightest clue how Focal Points work -- and he doesn't care. He was just in an insulting mood...
  • #197
  • Mar 26, 2022 6:48am Mar 26, 2022 6:48am
Quoting robots4me
{quote} @parisboy -- your posts are great. And there are those of us who are following along. I asked a simple question, and @simnz -- for whatever reason, perhaps envy -- chose to take that opportunity to insult us. He doesn't have the slightest clue how Focal Points work -- and he doesn't care. He was just in an insulting mood...
Anonymous people getting insulted? Ha ha .
Practice makes a person perfect
  • #198
  • Mar 26, 2022 6:48am Mar 26, 2022 6:48am
Quoting robots4me
{quote} @parisboy -- your posts are great. And there are those of us who are following along. I asked a simple question, and @simnz -- for whatever reason, perhaps envy -- chose to take that opportunity to insult us. He doesn't have the slightest clue how Focal Points work -- and he doesn't care. He was just in an insulting mood...
Thank you @Robots4me ! I try to be factual.

By the way this analysis + trade took 75 mn. It is somewhat long for our patience.

Its the reason why I always write : if you want to TRAIN , to TEST these methodologies IMHO it is better to do it on a 1 mn Timeframe. Because you could see between 5 to 10 opportunities a day (it will be useful to know how many in average).

Then you HAVE to use parallely Higher Time Frames. Hence you will check that you will endlessly observe the same patterns , the same crossings etc.

This way I hope you could understand that Moving Averages deal with numbers represented by points on a screen with limited length and width.

This way I hoped everybody will wipe out of his mind the bullshit(s) ideas : it depends of the Time Units and NZ Dollar / Zimbabwe Currency is very specific.
  • #199
  • Edited 7:19am Mar 26, 2022 7:03am | Edited 7:19am
Quoting robots4me
{quote} @parisboy -- your posts are great. And there are those of us who are following along. I asked a simple question, and @simnz -- for whatever reason, perhaps envy -- chose to take that opportunity to insult us. He doesn't have the slightest clue how Focal Points work -- and he doesn't care. He was just in an insulting mood...
@robots4me I have not answered your question about "I do not understand what means I am redy to short"

I assume you wanted to the conditions required to "pull the trigger" to code them

I have not (codable) answer right now.

We have to work on it. The only remark I can made is that I have a tendancy to enter too soon.

I think it would be useful to calculate and identify WHEN a CMA turns

Reminder :

Price Action makes a Top or a Bottom
CMA 16 (red) follows 8 Bars later
CMA 32(blue) follows 16 Bars later and crosses CMA 16 building a Focal Point 1632

This is an automatic, mathematical process . How to use it to our profit for an optimal Entry ?
  • #200
  • Mar 26, 2022 8:16am Mar 26, 2022 8:16am
Quoting parisboy
{quote} @robots4me I have not answered your question about "I do not understand what means I am redy to short" I assume you wanted to the conditions required to "pull the trigger" to code them I have not (codable) answer right now. We have to work on it. The only remark I can made is that I have a tendancy to enter too soon. I think it would be useful to calculate and identify WHEN a CMA turns Reminder : Price Action makes a Top or a Bottom CMA 16 (red) follows 8 Bars later CMA 32(blue) follows 16 Bars later and crosses CMA 16 building a Focal Point...
Thanks @parisboy -- this is an excellent answer. That's really all I needed to know. I am still trying to establish where the boundary lies between discretion and codable rules.
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