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Finding the trend

  • #461
  • Aug 14, 2024 3:48pm Aug 14, 2024 3:48pm
Quoting RiskFighter
{quote} Thank you very much for your suggestion. It's just that I have learned, that I am a scalper.
methods and systems are Fractal, they can be applied to any TF/period.

last chart was H1/week direction/12H Dow

this is M5/day direction/3H Dow

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"the public is not yet ready for it" W.D. GANN
  • #462
  • Edited 4:13pm Aug 14, 2024 4:00pm | Edited 4:13pm
Quoting OAPDave
{quote} I know you will not admit it but Your problem is the Fear of Losing You need to work out a good money-management to action when you have a loser which we all have at times Start with a fixed R/R You mention The Grail In the Tread Title which we all know is a bit of a myth
Dave - tsk tsk. You are talking to RiskFighter and you tell me that I need to learn Risk Management.

I am an educated Risk Manager. Was the first person in my country to take the education Manager of Risks (M_o_R). Look up that education. I was a pioneer in the 90's in Risk Management. I have the education "Project Risk Management" and have been working as a Project RIsk Manager on large scale projects (10 digits). Have practised risk management on a daily basis in my job for 35 years. Not for the fun, but because it works.

In trading I have many layers of Risk management.

  1. My robots allways have risk management functions. This is all automated. The robot handle it and I don't need to think about it.

    1. Find the right place for the SL (automated). Using math to calculate the lots necessary to lose only an exact amount of money (Percent of your equity).
    2. Find the TP by a factor of the risk. (RR). Fully automated.


  2. Automated set the SL according to the calculation. But my robots have 2 versions. 1) The SL is a firm point and 2) SL is by the end of the bar (invisible) - this helps avoding the wicks that often take your SL.
  3. Next layer. I have a robot that secure, that I can only lose x % on a trading day, then it stops everything. Exits all trades and don't trade anymore that day.
  4. Next layer. I have more accounts. Trading not all accounts at the same day. So a bad day hits only the accounts that I traded, not the paused accounts.
  5. Next layer. When trading Prop accounts, allways have some new accounts ready for passing the challenge in the next single trade. So if you blow an account, that does not matter, the next account is ready.

I Have more risk layers than these. Don't tell me, that I now nothing about risk management.

The Grail. I stand with my believe. The grail is not the strategy that you use. It is the knowledge about finding the next trade. What you chose to call it is your choice, but people tends to call an edge like this for a grail.

The problem is, when I chose to trade a pair which is trending, and then it goes directly into a range. Then I need to find another pair to trade.

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MetaTrader 4 - so many advantages.
  • #463
  • Aug 14, 2024 4:07pm Aug 14, 2024 4:07pm
Quoting Kwt4x
{quote} methods and systems are Fractal, they can be applied to any TF/period. last chart was H1/week direction/12H Dow this is M5/day direction/3H Dow {image}
Yes, Dow Jones showed in the 30ties, that timeframes is fractal.

But you say that I am right:

BB, for downtrend start it should break bottom band, for uptrend start it should break upper band.
Dow(HHHL-LLLH), for downtrend start it should break last HL, for uptrend start it should break last LH.

That is the starting point of the tool I want to make. I could show in a table all the pairs where price have broken the BB.
MetaTrader 4 - so many advantages.
  • #464
  • Edited 4:23pm Aug 14, 2024 4:11pm | Edited 4:23pm
Quoting RiskFighter
{quote} Dave - tsk tsk. You are talking to RiskFighter and you tell me that I need to learn Risk Management. I am an educated Risk Manager. Was the first person in my country to take the education Manager of Risks (M_o_R). Look up that education. I was a pioneer in the 90's in Risk Management. I have the education "Project Risk Management" and have been working as a Project RIsk Manager on large scale projects (10 digits). Have practised risk management on a daily basis in my job for 35 years. Not for the fun, but because it works. In trading I...
Haha
You are talking to a seasoned Gambler on all things with 4 legs
to the point of an Official Tax Inspection
I bet I have created as many
Methods/Systems and Recovery actions as you have done Risk management exercises
2 different things my friend


To me my Risk is simple
If price crosses the fixed stop line before the winning line you have lost
no keep moving the lines
  • #465
  • Aug 14, 2024 4:15pm Aug 14, 2024 4:15pm
Quoting OAPDave
{quote} Haha You are talking to a seasoned Gambler on all things with 4 legs to the point of an Official Tax Inspection I bet I have created as many Methods/Systems and Recovery actions as you have done Risk management exercises 2 different things my friend
I am sure that you are very effective. It is just that you tell me I need to learn risk management.
MetaTrader 4 - so many advantages.
  • #466
  • Aug 14, 2024 4:17pm Aug 14, 2024 4:17pm
Quoting OAPDave
{quote} Haha You are talking to a seasoned Gambler on all things with 4 legs to the point of an Official Tax Inspection I bet I have created as many Methods/Systems and Recovery actions as you have done Risk management exercises 2 different things my friend
No it is not different things. Risk management is risk management. No matter where in your life you use it.
MetaTrader 4 - so many advantages.
  • #467
  • Aug 14, 2024 4:29pm Aug 14, 2024 4:29pm
Quoting RiskFighter
{quote} No it is not different things. Risk management is risk management. No matter where in your life you use it.
Ok
I will leave it at that
  • #468
  • Aug 16, 2024 1:47pm Aug 16, 2024 1:47pm
Quoting Kwt4x
GU heads-up {image} {image} {image}
last hours of the week, but this an update for last week GU heads-up

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"the public is not yet ready for it" W.D. GANN
  • #469
  • Aug 16, 2024 1:50pm Aug 16, 2024 1:50pm
Quoting Kwt4x
{quote} methods and systems are Fractal, they can be applied to any TF/period. last chart was H1/week direction/12H Dow this is M5/day direction/3H Dow {image}
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"the public is not yet ready for it" W.D. GANN
  • #470
  • Aug 19, 2024 6:21am Aug 19, 2024 6:21am
hello
many thanks for your input, so easy now when to trade pairs, your system makes so easy take care .
  • #471
  • Aug 20, 2024 1:42am Aug 20, 2024 1:42am
Quoting ellenbrook
hello many thanks for your input, so easy now when to trade pairs, your system makes so easy take care .
Glad you like it ;-)
MetaTrader 4 - so many advantages.
  • #472
  • Aug 22, 2024 4:10am Aug 22, 2024 4:10am
FINDING THE TREND ?

I suppose the Question should have been asked
Much earlier in the thread

IN WHAT TIME-FRAME ?
  • #473
  • Aug 22, 2024 4:52am Aug 22, 2024 4:52am
Quoting OAPDave
FINDING THE TREND ? I suppose the Question should have been asked Much earlier in the thread IN WHAT TIME-FRAME ?
You look for trends differently depending on the time frame?
Good Trading
  • #474
  • Aug 22, 2024 5:09am Aug 22, 2024 5:09am
Quoting aud
{quote} You look for trends differently depending on the time frame?
  • #475
  • Aug 22, 2024 5:16am Aug 22, 2024 5:16am
Quoting OAPDave
FINDING THE TREND ? I suppose the Question should have been asked Much earlier in the thread IN WHAT TIME-FRAME ?
I believe I have said it. I start at the Daily, then H4, Them H1.
MetaTrader 4 - so many advantages.
  • #476
  • Aug 22, 2024 5:35am Aug 22, 2024 5:35am
Quoting RiskFighter
{quote} I believe I have said it. I start at the Daily, then H4, Them H1.
Depending what number of pips you are Targeting (scalping) not really
sure you need to go though that process
All individual time frames give a trend
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  • #477
  • Aug 22, 2024 5:51am Aug 22, 2024 5:51am
Quoting RiskFighter
{quote} I believe I have said it. I start at the Daily, then H4, Them H1.
Arrr
Good to see you
Just like Elvis
Thought you had left the building
and gone on tour
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  • #478
  • Aug 22, 2024 5:59am Aug 22, 2024 5:59am
Quoting OAPDave
{quote} Depending what number of pips you are Targeting (scalping) not really sure you need to go though that process All individual time frames give a trend {image} {image}
You are right. But this is what people call top down analyzes. If you have a trend at D and H4, then the trend at LTF is more trustworthy - I believe. And I top it with a lot of other stuff.

But in this very moment I put a robot on 25 pairs at M5 - Demo of cause for the experiance. And M5 does not care about Daily and H4.
MetaTrader 4 - so many advantages.
  • #479
  • Aug 22, 2024 6:01am Aug 22, 2024 6:01am
Quoting OAPDave
{quote} Arrr Good to see you Just like Elvis Thought you had left the building and gone on tour {image} {image}
Nope Dave. I am allways at the PC investigting Forex strategies. But I don't participate in every debate. But I read it.
MetaTrader 4 - so many advantages.
  • #480
  • Aug 22, 2024 6:03am Aug 22, 2024 6:03am
Quoting OAPDave
{quote} Arrr Good to see you Just like Elvis Thought you had left the building and gone on tour {image} {image} {image} {image}
I have just made a robot taking trades in the direction of Daily open. And I have started to use it in some of my charts. So you have influenced me. As I say - you are a smart trader.
MetaTrader 4 - so many advantages.
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