Guppy's Multi-Moving Average (GMMA)
- #602
- Jun 23, 2022 12:55pm Jun 23, 2022 12:55pm
- Joined Feb 2019 | Status: Trader | 1,021 Posts
If RSI level is greater than or equal 50, then draw the GMMA in green color. Vice versa. If RSI level is less than 50, then draw the GMMA in red color. {image} {file} {file}
hats off to you sir
are you trading guppy ?
use GMMA (RSI level ) BT in sub window
- #604
- Jun 23, 2022 8:59pm Jun 23, 2022 8:59pm
- Joined Feb 2019 | Status: Trader | 1,021 Posts
To: walvekarraje | From: cdk1212 | Sent: Jun 23, 2022 1:27pm
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Hi Rajesh,
Can you share your MACD alert2 indicator?
tks,
cdk
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Hi Rajesh,
Can you share your MACD alert2 indicator?
tks,
cdk
The trend is very down here if you look at the daily chart and it's been around a long time, perhaps too long, so I was in two minds about selling this. The steady and evenly-spaced long-term guppy lines gave me confidence.
I used a pullback on the H4 chart for my sell stop order. It is a two-bar pullback and the pullback candle happens to be a pinbar, so placing the entry at the base of the PB was a simple decision.
I now have an EA (on a VPS, not here) that I had adjusted to suit my needs - it can move the stop to breakeven at a certain number of pips and once that has been done it can start trailing the stop along an MA of my choice. My settings are B/E at 50 pips, the EMA period = 14 and the applied price = open (most indicators use the close, but I thought the open seemed to work better). The trade is now at B/E and I'm waiting for the trailing stop to kick in to lock in some profit if it doesn't reach the target.
I used a pullback on the H4 chart for my sell stop order. It is a two-bar pullback and the pullback candle happens to be a pinbar, so placing the entry at the base of the PB was a simple decision.
I now have an EA (on a VPS, not here) that I had adjusted to suit my needs - it can move the stop to breakeven at a certain number of pips and once that has been done it can start trailing the stop along an MA of my choice. My settings are B/E at 50 pips, the EMA period = 14 and the applied price = open (most indicators use the close, but I thought the open seemed to work better). The trade is now at B/E and I'm waiting for the trailing stop to kick in to lock in some profit if it doesn't reach the target.
Yesterday was ... interesting. I placed 6 trades and none of them was triggered. Basically, nothing moved all day, just because one country has an independence celebration. So I deleted all orders and started again today. Not only are the trades in a "riper" condition today, but we are done with 4th July and things are moving.
On NZDUSD the daily is in a strongly established downtrend, perhaps a bit too well-established (elderly) but it seems to have life left in it. Based on that dominant higher timeframe bias I placed a sell stop order on H4.
Note the SL on H4 does not use the nearby high for its position, but above the one before that. By placing the SL more conservatively and by using the GMMAs for guidance on trend direction and I have not been stopped out for a while now.
On NZDUSD the daily is in a strongly established downtrend, perhaps a bit too well-established (elderly) but it seems to have life left in it. Based on that dominant higher timeframe bias I placed a sell stop order on H4.
Note the SL on H4 does not use the nearby high for its position, but above the one before that. By placing the SL more conservatively and by using the GMMAs for guidance on trend direction and I have not been stopped out for a while now.
- #608
- Edited 4:20am Jul 5, 2022 3:11am | Edited 4:20am
I have entered four trades today. Three are doing fine (in fact, those three have already made 1% return on account balance and my day is still young). But this one (CHFJPY) has me wondering, a bit of a 50/50 trade. Shouldn't be in it. I have decided to get out when I can.
Monthly chart of CHFJPY
This shows about 10 years of history. Price is very high, too high. Last time it went up here it got pushed back down very quickly. So why do I want to buy here?
Daily chart of CHFJPY
There have been three completed legs up, each one weaker than the one before. We generally step away after this, noting that nothing continues forever and after three legs, maybe we are asking for trouble. (So why ...)
Monthly chart of CHFJPY
This shows about 10 years of history. Price is very high, too high. Last time it went up here it got pushed back down very quickly. So why do I want to buy here?
Daily chart of CHFJPY
There have been three completed legs up, each one weaker than the one before. We generally step away after this, noting that nothing continues forever and after three legs, maybe we are asking for trouble. (So why ...)
I got a nice entry soon after a trend reversal. This means that the trade might continue for some time so I decided to leave it to run over the weekend and into next week. I was at breakeven before the NFPs, so left it open and took the risk. It paid off so let's see what happens next week. I'm trailing the stop along the 21 EMA this time (green line).
The target is at 270 pips, which is optimistic/unrealistic, but if I get there it will be an early Christmas and if the TS stops me out on maybe 100 pips it will still be a good return.
The target is at 270 pips, which is optimistic/unrealistic, but if I get there it will be an early Christmas and if the TS stops me out on maybe 100 pips it will still be a good return.
I got a nice entry soon after a trend reversal. This means that the trade might continue for some time so I decided to leave it to run over the weekend and into next week. I was at breakeven before the NFPs, so left it open and took the risk. It paid off so let's see what happens next week. I'm trailing the stop along the 21 EMA this time (green line). The target is at 270 pips, which is optimistic/unrealistic, but if I get there it will be an early Christmas and if the TS stops me out on maybe 100 pips it will still be a good return. {image}
- #612
- Jul 13, 2022 9:55am Jul 13, 2022 9:55am
- Joined Jan 2013 | Status: Trader | 4,386 Posts
MA provides the market's current direction and strength.
I've been away for two weeks. Didn't miss anything thoughI placed this trade earlier today using the inside bar setup marked on the chart, sell stop order at base of mother bar. An entry higher up would have been better but I didn't have access to my laptop until now. {image}
This USDCAD trade was stopped out a few hours ago by the merest of touches, and now it looks as if price might drop back down again, having done its nasty work. If it now continues up I'll feel better about it - that would be a proper stop-out, a real smack in the face.
Then also this GBPAUD trade, stopped out by a few pips and now look - it is rocketing up just as I thought it might.
- #615
- Edited 12:38pm Aug 2, 2022 11:08am | Edited 12:38pm
- Joined Feb 2019 | Status: Trader | 1,021 Posts
trades in demo account in last 5 days only....
i think it is easier to trade forex than indian markets.
1) no gap up or gap down as market working 24 hrs.
2) no expiry for contracts.
i think it is easier to trade forex than indian markets.
1) no gap up or gap down as market working 24 hrs.
2) no expiry for contracts.
- #616
- Aug 2, 2022 12:34pm Aug 2, 2022 12:34pm
- Joined Feb 2019 | Status: Trader | 1,021 Posts
trade in progress . 2 lots . T1 hit , one lot profit booked.
trades in demo account in last 5 days only.... {image} i think it is easier to trade forex than indian markets. 1) no gap up or gap down as market working 24 hrs. 2) no expiry for contracts.
- #620
- Aug 11, 2022 8:47am Aug 11, 2022 8:47am
- Joined Feb 2019 | Status: Trader | 1,021 Posts
{quote} Excellent trading, Rajesh. Were you using your usual "Walvekar" method? And mostly on H1 timeframe? Have you managed to keep up this kind of success rate? My experience is that when I have had a good run and gained confidence (and probably become too bold) the market has a way of coming back at me.
all trades in profit.
although i am trading only when i get time.
