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Attachments: X50 - M5 trend following
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X50 - M5 trend following

  • #201
  • Feb 12, 2008 5:30am Feb 12, 2008 5:30am
Quoting cfossy04
Dids,

I would like to learn more about the tweaks you are using with the X50 system. Would you be able to share the "wave" indicator that you added to your chart or point me in the direction where I could obtain it.

Thanks,
Chris
Chris,

I don’t think a “wave” indicator as such exists. The best is to add 3 EMAs 34 on your chart.

The wave can be used different ways.

1)It gives instructions on the trend, Up or Down.
2)It can prevent trading in ranging markets, i.e. when the price is between the top and bottom EMAs.
3)The Wave can also be used as a “Breakthrough” indicator. When the wave is broken, e.g. the price closing above the top EMA can be a BUY signal.


Last but not least I used the Wave as a “strength” indicator. You should see it as a clock. The angle can be used as with your watch. The time can be 1, 2…up to 5 o’clock. I like to buy when my “wave” clock is showing 1 or 2 o’clock and sell when the time is 4 or 5 o’clock.

I hope all this make sense and don’t hesitate to contact me shall you require more information.

Cheers,
Dids
  • #202
  • Feb 12, 2008 7:32am Feb 12, 2008 7:32am
Quoting Dids
Chris,

I don’t think a “wave” indicator as such exists. The best is to add 3 EMAs 34 on your chart.

The wave can be used different ways.

1)It gives instructions on the trend, Up or Down.
2)It can prevent trading in ranging markets, i.e. when the price is between the top and bottom EMAs.
3)The Wave can also be used as a “Breakthrough” indicator. When the wave is broken, e.g. the price closing above the top EMA can be a BUY signal.


Last but not least I used the Wave as a “strength” indicator. You should see it as a clock. The angle can be used as with your watch. The time can be 1, 2…up to 5 o’clock. I like to buy when my “wave” clock is showing 1 or 2 o’clock and sell when the time is 4 or 5 o’clock.

I hope all this make sense and don’t hesitate to contact me shall you require more information.

Cheers,
Dids
Thanks Dids and CanuckCT.
Dids, is the book worth buying?
  • #203
  • Feb 12, 2008 8:13am Feb 12, 2008 8:13am
Tenshi,

I would tend to say yes but I don’t know what you are looking for and your knowledge level. It’s a good book well written and not too technical. It covers many areas of trading, chart, psychology, money mgt etc.

Drawback is that each area could be covered individually in many books.
What I liked the most is that the book tries to present trading from a-z. It is a system that will take the reader by hand and present Raghee’s methodology. After reading it you could jump right away into trading ;-).

If you speak French I know another book with does the same but for Futures (concept could be applied to FX as well) which is the best book I know like this.

Hope it helps.
Dids
  • #204
  • Feb 12, 2008 8:15am Feb 12, 2008 8:15am
Quoting CanuckCT
The rules for entry are as follows:

M5 stochastic 5-3-3 leads the way and must be above or below 50
can someone advised on this sentence, to enter should i look at above or below 50?
  • #205
  • Feb 12, 2008 11:18am Feb 12, 2008 11:18am
Dear all,

I've been trading for 3 years and I've been following ff since that time. I've had terrible success but I follow important threads like this one.

I follow forex with great passion and would like to have an EA trade for me as well so I've attached an image along with the indicators to help you all out. You can use the following filters to time your trades.
trades.

A signal generator to monitor the trades so you don't have to monitor your computer all the time.. It's an EMA Cross 4 8 alert signal.

The madro golden filter, ... well, it confirms the signal above.. I'm not sure what the indicators are... but it confirms the trade.

The slope detection line will put you on the right side of the trade.. Mind you the higher the time frame, the greater the accuracy.. but it will allow you to enter the trades with tight stops. A Gann Hi Lo Filter.. again putting you on the right side of the trade.

I'm attaching a template in my next post along with some logic behind each trading decision.

dfxt

Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy_x50_template.gif Size: 22 KB


Attached File(s)
File Type: ex4 ###Gann_HiLo_Activator_v2###.ex4   2 KB | 824 downloads


Attached File(s)
File Type: mq4 __MadroGoldenFilter.mq4   6 KB | 985 downloads


Attached File(s)
File Type: ex4 #Signal_Bars_v6.ex4   54 KB | 815 downloads


Attached File(s)
File Type: mq4 EMA Crossover Signal.mq4   4 KB | 814 downloads


Attached File(s)
File Type: mq4 OsMA Color.mq4   4 KB | 1,285 downloads


Attached File(s)
File Type: mq4 Slope Direction Line.mq4   4 KB | 816 downloads
  • #206
  • Feb 12, 2008 11:22am Feb 12, 2008 11:22am
Here is the revised template I'm using to trade.

Also, place TomDemark Trendlines on your 1 hour/4 hour/Daily charts to determine market support and resistance. Price will bounce or break these lines to invite new triggers to support your trade.

I believe if you combine all these you will trade better.

I look forward to helping you all and trading together.

Dfxtrader
Attached File(s)
File Type: tpl !!x50.1.tpl   14 KB | 781 downloads
File Type: mq4 DeMark lines.mq4   17 KB | 790 downloads
  • #207
  • Feb 13, 2008 6:54am Feb 13, 2008 6:54am
May i know for this system, should i look at 4H or 1D?
  • #208
  • Feb 13, 2008 7:29am Feb 13, 2008 7:29am
Quoting fxykl
May i know for this system, should i look at 4H or 1D?
M5
  • #209
  • Feb 13, 2008 7:47am Feb 13, 2008 7:47am
thanks for your reply.

M5 i guess it is refering to 5minute trade. So for 5minute meaning every 5 minute we need to observed for the signal?
  • #210
  • Feb 13, 2008 8:00am Feb 13, 2008 8:00am
Quoting fxykl
thanks for your reply.

M5 i guess it is refering to 5minute trade. So for 5minute meaning every 5 minute we need to observed for the signal?
Yes M5 is a 5 minute time frame. Everything you need know about this system is explained very well by CanuckCT in post #1.

T4K
  • #211
  • Feb 13, 2008 8:09am Feb 13, 2008 8:09am
Quoting fxykl
can someone advised on this sentence, to enter should i look at above or below 50?

can someone advised about the sentence above?
  • #212
  • Feb 13, 2008 11:01pm Feb 13, 2008 11:01pm
If above 50 looking to buy, below 50 looking to sell.
Cheers
CanuckCT

Quoting fxykl
can someone advised about the sentence above?
  • #213
  • Feb 14, 2008 10:14am Feb 14, 2008 10:14am
Quoting fxykl
May i know for this system, should i look at 4H or 1D?

Use the 4H TD trendlines for your support and resistance and pay attention on the 5 min chart for breaks or bounce. Becareful about getting chop out, because bears and bulls are fighting for positioning.
  • #214
  • Feb 16, 2008 8:31pm Feb 16, 2008 8:31pm
Hey Canuck,

I have a MT4 platform from MBC that has a gold and oil feed. I think the X50 will work well with these two instruments as tehy trend very strongly.

I have an adapted X50 on my other platform which I picked up 208 pips on oil on Friday night but I will be looking forward to using the real thing next week.

I have tried to post images here of the x50 with gold and oil but the sytem wont let me post attachments for some reason??

Cheers,

Dean
  • #215
  • Feb 16, 2008 8:56pm Feb 16, 2008 8:56pm
Here is the image. Did it through Firefox, Explorer wont let me
Attached Image (click to enlarge)
Click to Enlarge Name: Gold and Oil X50.gif Size: 68 KB
  • #216
  • Feb 16, 2008 9:03pm Feb 16, 2008 9:03pm
Sorry guys, that image was probably a bit small. Here is a bigger one.
Attached Image (click to enlarge)
Click to Enlarge Name: Gold and Oil X50.gif Size: 172 KB
  • #217
  • Feb 17, 2008 5:23pm Feb 17, 2008 5:23pm
Hi Deang001,
Those are nice charts for sure.

I wanted to give those folks who are trading x50 a heads up...x50 indicator should be ready in a day or two. I'm not including the UT_Fast indicator filter as it was going to consume too many resources. It will have a minimum MACD cross, a moving average filter and a popup alert.

Cheers
CanuckCT

Quoting deang001
Sorry guys, that image was probably a bit small. Here is a bigger one.
  • #218
  • Feb 19, 2008 6:20am Feb 19, 2008 6:20am
Excellent Canuck, cant wait.
  • #219
  • Feb 19, 2008 6:56am Feb 19, 2008 6:56am
Quoting CanuckCT
Hi Deang001,
Those are nice charts for sure.

I wanted to give those folks who are trading x50 a heads up...x50 indicator should be ready in a day or two. I'm not including the UT_Fast indicator filter as it was going to consume too many resources. It will have a minimum MACD cross, a moving average filter and a popup alert.

Cheers
CanuckCT
keep up the good work!
  • #220
  • Feb 19, 2008 9:19pm Feb 19, 2008 9:19pm
Should have indicator ready for tomorrow or Thursday. Here is a shot of x50 using an 89EMA as a filter. Must be above it for a buy and beloe it for a sell. I took the last trade on this chart.
Cheers,
CanuckCT
Attached Image (click to enlarge)
Click to Enlarge Name: gj.gif Size: 23 KB
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