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Simplicity is the ultimate form of sophistication ( Elite )

  • #461
  • Apr 4, 2008 12:03pm Apr 4, 2008 12:03pm
Quoting krisbina

Do you mind to tell me what broker do you use?

I have accounts with FXCM for scalping, because their Trading station have features what Metatrader dont have.

- one click at best ( one clickand ethe executiion will be done, no time consuming )

- the exit is also with one click

but i hate their charts, i use MT4 for charting

I was with Northfinance and changed to FXDD, cause of the stop loss conditions

Northfinance have 10 stop loss at least, FXDD 4 or 5

Soon i will get a bigger account with ACM and CMC

Since you're making money and I guess that you have made a lot of withdrawals from your broker, at least I'd know that your broker is reliable.
I am asking this is because I am a newbie and I would'nt want to risk putting my hard earn cash into a broker who couldn't pay when you're winning.

Frauds or missunderstandings will rarly happen (if they are not a frauding enterprise)

they would not have bad image when presenting their Box.

Choose the most known brokers, and not the news ones to be assured



Thanks for sharing!
.
  • #462
  • Apr 4, 2008 12:16pm Apr 4, 2008 12:16pm
[quote=fxxx;1936769]
Quoting fxxx
Quote:



Alright, question was basically:

Waterflame, can you explain what you mean by "price can lag"
(many people think most indicators are lag, price -the best indicator)
thank you

Yesterday i had a debate with a very aggresive , scynic, and pessimitic guy about moving average crossings, price behaviour and some other things.

I will clearify that i haven't said ( read the thread ) that everythig is perfect.

But the combination will help you to understand and succeed.

every indicator " even moving averages " are lagging indicators.

- Using alone moving averages will fake you

- Using only price action will fake you too

( without talking about the other indicators )

That why are set the rules

Combining Price action confirmation of the candles, with indictor signals to avoif mistakes, preluding entries, and protecting you with a low stop loss.

Potentiality was showed of the Concept.

here is a comparing to trade with the 3 Ema what is near to price but not sloppy, and not too far from price to give late entry.

This will be the big difference, because most traders, even experienced, will have sometimes false analysing of market move consitions, and fall in this little traps.

Thats for are this values and the concept made.

See example:


http://www.abload.de/img/fakes5we.gif
  • #463
  • Apr 4, 2008 12:18pm Apr 4, 2008 12:18pm
Quoting Kevyluvu

Hey Karim,



I am going to continue updating my thread with charts and trades so I don't confuse anyone here. I have come to the conclusion that you can trade this simple system as you intended it and make pips. My charts are a bit different and last night I traded the news which is directly against the rules of this system. Anyways I want to continue posting my live trades and I don't want to contradict the purpose and focus of this thread.


Many thanks for opening my eyes Flame, and I wish you much success.



-Kevin

sure, its a pleasure and a help to hear what you have to say, everyone of us is important
  • #464
  • Apr 4, 2008 12:21pm Apr 4, 2008 12:21pm
thanks to everyone for your kind words, and thank you for helping others with your discussions
  • #465
  • Apr 4, 2008 1:57pm Apr 4, 2008 1:57pm
Quoting Waterflame
would you be honest to share with us this tool, just to take a look on it,

thanks in advance
of course !
Attached File(s)
File Type: mq4 FlatTrend w MACD.mq4   3 KB | 720 downloads
  • #466
  • Apr 4, 2008 3:15pm Apr 4, 2008 3:15pm
What are the precedures you go threw to just lose your spread on a trade waterflame?You can't set a stop right sfter you enter becuase price needs room to breathe for a little while to get moving.Or do you wait till your ahead a few pips then set?I hope this doesn't sound like a stupid question,but your response will give me some insight of how you are managing your trades..Thanks again!!
  • #467
  • Apr 4, 2008 5:24pm Apr 4, 2008 5:24pm
Quoting jlmac27

What are the precedures you go threw to just lose your spread on a trade waterflame?You can't set a stop right sfter you enter becuase price needs room to breathe for a little while to get moving.Or do you wait till your ahead a few pips then set?

as you said, im very hard at this point, i will set this stop loss!

even if i enter a position what is dangerous for my with a big candle, i set stop loss and hard stops!

because its not a thing i will fear about.

all i wish is a good entry and big profits!

some rows i will maybe have some stop loss exits with a resume of 30 pips loss ( 3 trades loss = each 10 pips loss ) because i have set this stop loss hardly, and will not loose much.

But the wining one will give all back, and more

give me some insight of how you are managing your trades..!!

Descibe your question precisely, i can"t answer you random of a question like of (give me some insight of how you are managing your trades )
...
  • #468
  • Apr 4, 2008 6:26pm Apr 4, 2008 6:26pm
What I am getting at is.When do you set your stoploss?At the very begining of the trade?Or do you wait till it has went in your direction with positive pips?How do you get out of a trade using this system with only losing your spread?Thanks again waterflame
  • #469
  • Apr 4, 2008 6:27pm Apr 4, 2008 6:27pm
WaterFlame, hi.

Been watching your thread since its birth. Fantastic thankyou!

I too believe in simplicity.

I have watched a few posters adding their tweeks to better the entries/exits. Some for the better and some not so.

As with many strategies they have their fare share of false signals.

I normally trade with Auslanco 15 min strat. One of the indicators used is the stop and reverse, which I think was custom designed especially. I placed it over your template and found it does seem to weed out the headfakes (as someone named) and can confirm continuation.

Maybe worth a look for yourself and others. Haven't backtested it extensively yet but it has confirmed some good entries for me.

Again I believe in simplicity. See pic for details.

Will follow with interest.

Merci beaucoup.

Damo.

P.S For those interested change settings: ATR Periods = 28
:ATR Multiplier = 2.75

All thanks must go to Auslanco.....
Attached Image (click to enlarge)
Click to Enlarge Name: cha4.gif Size: 21 KB
Attached File(s)
File Type: mq4 MT4-LevelStop-Reverse-v1.mq4   12 KB | 859 downloads
where thought goes energy flows
  • #470
  • Apr 4, 2008 11:41pm Apr 4, 2008 11:41pm
Simplicity is different to different people. It's all relative.

In my opinion, this is a relatively simple system. Thanks for sharing.
  • #471
  • Apr 5, 2008 1:25am Apr 5, 2008 1:25am
Nice indicator Damo12, thank you.
  • #472
  • Apr 5, 2008 2:26pm Apr 5, 2008 2:26pm
A friend of mine have a tutorila to share

http://www.livevideo.com/video/C183D...ster-hack.aspx


enjoy it, and thank you very much snapcraklepip


you can join the community on irc with this adress

irc.frenzyforex.com

channels :

#forex

#eliteforex
  • #473
  • Apr 5, 2008 2:33pm Apr 5, 2008 2:33pm
Quoting Damo12
WaterFlame, hi.

Been watching your thread since its birth. Fantastic thankyou!

I too believe in simplicity.

I have watched a few posters adding their tweeks to better the entries/exits. Some for the better and some not so.

As with many strategies they have their fare share of false signals.

I normally trade with Auslanco 15 min strat. One of the indicators used is the stop and reverse, which I think was custom designed especially. I placed it over your template and found it does seem to weed out the headfakes (as someone named) and can confirm continuation.

Maybe worth a look for yourself and others. Haven't backtested it extensively yet but it has confirmed some good entries for me.

Again I believe in simplicity. See pic for details.

Will follow with interest.

Merci beaucoup.

Damo.

P.S For those interested change settings: ATR Periods = 28
:ATR Multiplier = 2.75

All thanks must go to Auslanco.....
thank you for your collaboration Dave
  • #474
  • Apr 5, 2008 2:38pm Apr 5, 2008 2:38pm
Quoting jlmac27

What I am getting at is.When do you set your stoploss

as i have explained with the candles stop loss and hard stops.

At the very begining of the trade?

it depends of the trade honestly, because i became more aggresive with time, knowing the system beter, sometimes i can trade big candles and assume too he risks.

it can happen that i set up stop loss after the entry of the position.

Or do you wait till it has went in your direction with positive pips?How do you get out of a trade using this system with only losing your spread?

when i have 10 pips profit, i set up stop loss to zero loss, so i earn my spread, and even if price return, i will have no losses.
...
  • #475
  • Apr 5, 2008 3:23pm Apr 5, 2008 3:23pm
Quoting Waterflame
...
Hello waterflame, I also thank you for demonstrate your system. I'm from Germany and follow your thread since the beginning. I started tests with different pairs (but only for a short time of 1 month). It seems to me that the success of your system depends on the volatility of the traded pair. If the volatility of a pair is not very high (like usd/chf) and it consolidates too often (as you described in #1 for Eur/CHF) around der 34MA, you get more losses than winners (often you reach not even the level for setting the 10 pips SL). So it happens, that you can get a row of wrong signals. It seems to me that it's better to trade only very volatile pairs. Can you confirm this with you long life experience and if yes, how do you respond to this? Best wishes, Erik
  • #476
  • Apr 5, 2008 11:31pm Apr 5, 2008 11:31pm
Thanks again my friend,
I don't mean to keep asking the same question.I understand what you are saying,I went back also and reread a few posts that helped also.Keep up the good work.Hope to see some of your results this week!!
  • #477
  • Apr 6, 2008 12:10am Apr 6, 2008 12:10am
Quoting remcous
I agree that... But for filtering ranging market like today, i'm using an indic based on MACD :

(see picture)

what do you think ?
seriously........how to read the indicator.......
when ranging?
when not ranging?

In detail explanation please.....................


you may explain this here or email me:
[email protected]
  • #478
  • Apr 6, 2008 1:58am Apr 6, 2008 1:58am
Nice video Waterflame, I will certainly try and test my manual system. He said he is going to make more videos, what is the name of the web site so we can view them?

Thanks,
Dave
  • #479
  • Apr 6, 2008 4:38am Apr 6, 2008 4:38am
Quoting B@by trader
seriously........how to read the indicator.......
when ranging?
when not ranging?

In detail explanation please.....................


you may explain this here or email me:
[email protected]

Blue = trending up
Red = trending down
other = no trend
  • #480
  • Apr 6, 2008 4:54am Apr 6, 2008 4:54am
Quoting Dave1
Nice video Waterflame, I will certainly try and test my manual system. He said he is going to make more videos, what is the name of the web site so we can view them?

Thanks,
Dave
http://www.livevideo.com/SnapCracklePip
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