Attachments: Powerful Fib Based System - by DAZfx

Powerful Fib Based System - by DAZfx

#581
Apr 9, 2008 4:39am Apr 9, 2008 4:39am

ChowClown
| Joined Sep 2006 | Status: Trader | 944 Posts

Quoting ianf0ster

Disliked

Hi Naijafx,
Thanks for the heads-up. I have taken the U/Chf but based upon the next biggest swing, since th one in your post retraced too far.

I have 2 questions :
1. The stochastic used in the Dazfx method, is it simple or exponential , isand is it close/close or low/high ?

2. I think the 'traffic lights' in your chart look good. What is the indicator and what is it showing . That is which MACD, and which EMA and what is STR?

Thanks,
Ian

Ignored

Hi Ian,

Mike kindly posted my chart to the thread as an update, so i guess i'd better answer the questions.

1/. I use the exponential and close/close, as a personal preference.

2/. Someone kindly gave a link to the traffic lights in the room the other day. I've attached it here for you....not sure i'll keep it on my template for much longer, it ends up confusing me more than helping to be honest, and isn't part of the strat anyway.

HTH

Attached File(s)

tendance_v2.ex4 41 KB | 872 downloads

#582
Apr 9, 2008 8:25am Apr 9, 2008 8:25am

ianf0ster
| Commercial User | Joined Jan 2007 | 1,486 Posts

Quoting ianf0ster

Disliked

Hi Naijafx,
Thanks for the heads-up. I have taken the U/Chf but based upon the next biggest swing, since the one in your post retraced too far.
Ian

Ignored

My U/Chf trade is stopped out. Looking at it now, I see that it was really too long a swing to do on the 1Hr and should have been appraised on the 4Hr.
Only on the 4hr , the Stoch was not turning up - so it should have been a no trade.

I have since added the stoch (32,3,3) to show how the 4hr stoch (8,3,3) is looking.

Wiser but poorer,
Ian

Attached Image (click to enlarge)

Click to Enlarge

Name: uchf_9apr08.gif
Size: 26 KB

#583
Apr 9, 2008 9:38am Apr 9, 2008 9:38am

ChowClown
| Joined Sep 2006 | Status: Trader | 944 Posts

A handy tip, Ian. Thanks. Pls forgive my ignorance, could you explain why the other parameters of the stoch aren't transposed upwards too, so 32,12,12?

#584
Apr 9, 2008 10:53pm Apr 9, 2008 10:53pm

fiborex38
| Additional Username | Joined Mar 2008 | 15 Posts

To trade Daz technique successfully , I believe we need to strictly follow all the rule. Spotting the correct AB wave is the most important thing. As for me, I always go with the daily trend and stochs have to be either at 20 or 80 barrier vincinity, not in the middle. IF they do not have these characteristics, then I don't take the trade.

losing a trade is part of the game. The important thing is manage your money right. I am willing to risk 3% of my account. So if you lose a trade, you would take much of a blow.

Keep practicing. WE need to make this thread stay alive.

As of right now, I have spotted 3 potential setups. They all agree with the daily trend and stochs are in the desired vincinity for us to make an entry.

Attached Image(s) (click to enlarge)

Click to Enlarge

Name: Screenshot 04102008-034057593.GIF
Size: 52 KB

Click to Enlarge

Name: Screenshot 04102008-034128748.GIF
Size: 58 KB

Click to Enlarge

Name: Screenshot 04102008-034207214.GIF
Size: 55 KB

#585
Apr 10, 2008 3:01am Apr 10, 2008 3:01am

ianf0ster
| Commercial User | Joined Jan 2007 | 1,486 Posts

Quoting ChowClown

Disliked

A handy tip, Ian. Thanks. Pls forgive my ignorance, could you explain why the other parameters of the stoch aren't transposed upwards too, so 32,12,12?

Ignored

Hi CC,
I didn't look closely enough at this. It just matched the 8,3,3 on the 4Hr at that point in time. I see now that they don't match that often, neither does the 32,12,12 on the 1Hr although it is closer.
I also tried an MTF Stoch on the 1hr set to represent the 4 hr, but that was also out.

So more investigation is required.

Ian

#586
Edited 8:50am Apr 10, 2008 3:05am | Edited 8:50am

ChowClown
| Joined Sep 2006 | Status: Trader | 944 Posts

lol Ian, your setting gave me added confidence with the CJ long trade earlier

Edit: T1 and T2 filled (+12 T1, +22 T2). Stop on remaining lots set to breakeven.

Edit: b/e stops filled.

Attached Image (click to enlarge)

Click to Enlarge

Name: CJ - (1) 10th April 08.GIF
Size: 57 KB

#587
Apr 10, 2008 8:47am Apr 10, 2008 8:47am

ChowClown
| Joined Sep 2006 | Status: Trader | 944 Posts

Cable 4hr short setting up, just waiting for everything to line up.

Attached Image (click to enlarge)

Click to Enlarge

Name: GU - (2) 10th April 08.GIF
Size: 54 KB

#588
Apr 10, 2008 8:53am Apr 10, 2008 8:53am

PipsUS
| Joined Mar 2008 | Status: Trader | 6 Posts

This system is great! Daz we are excited about the advanced system. Wish I could trade the London session more, but just have to take what NY can give me at this time. Great group of traders in the room too!

#589
Apr 10, 2008 8:58am Apr 10, 2008 8:58am

roger0078200
| Joined Jan 2008 | Status: Trader | 50 Posts

Quoting ChowClown

Disliked

Cable 4hr short setting up, just waiting for everything to line up.

Ignored

hey chow..cable seems to be bullish on daily...wat do u say..but weekly is bearish..

#590
Apr 10, 2008 9:47am Apr 10, 2008 9:47am

ChowClown
| Joined Sep 2006 | Status: Trader | 944 Posts

Quoting roger0078200

Disliked

hey chow..cable seems to be bullish on daily...wat do u say..but weekly is bearish..

Ignored

hi rog, for me cable on the daily is still bearish until it makes it's next HH/HL stair step - simple, but it gives me something to hang my hat on

#591
Apr 10, 2008 10:30am Apr 10, 2008 10:30am

ChowClown
| Joined Sep 2006 | Status: Trader | 944 Posts

...just posted a watch on EU hrly long, in the room...bit scrappy looking, but you never know

#592
Apr 10, 2008 10:41am Apr 10, 2008 10:41am

popisdead
| Membership Revoked | Joined Dec 2007 | 539 Posts

suggested by wooley on TF1h

Quoting woolley

Disliked

Hi popsidead, to be honest I dont realy look at anything under 4hrs if I can help it, but looking at the charts (1hr) with the settings 240-4-0-1.0-500
looks as if it would work pretty much the same as the higher time frames.

hope this helps.
http://www.forexfactory.com/images/buttons/quote.gif

Ignored

Attached File(s)

Center of Gravity.mq4 5 KB | 664 downloads

Center of Gravity.ex4 7 KB | 552 downloads

{Promotion Removed}

#593
Apr 10, 2008 11:12am Apr 10, 2008 11:12am

ianf0ster
| Commercial User | Joined Jan 2007 | 1,486 Posts

Quoting ianf0ster

Disliked

Hi CC,
I didn't look closely enough at this. It just matched the 8,3,3 on the 4Hr at that point in time. I see now that they don't match that often, neither does the 32,12,12 on the 1Hr although it is closer.
I also tried an MTF Stoch on the 1hr set to represent the 4 hr, but that was also out.

So more investigation is required.
Ian

Ignored

OK, I have found out that the reason th MFT_Stoch didn't look like the 4Hr close/close.
ChowClown is correct in that using 32,12,12 on a 1Hr chart gives a better approximation to 8,3,3 on a 4Hr chart than does 32,3,3.
However there is a problem with using 4Hr charts or an MTF_stoch set for a 4Hr periond on a 1 hr chart. The problem is that ther are up to 4 possible 4Hr charts (due to the local time used for the chart) e.g. GMT, GMT+1, GMT+2, GMT+3 etc. I hate 4Hr charts for this reason, but it is much worse when you use a 4hr chart with an indicator which only uses the open or close (not so bad if it uses high and Low as well).
I think that this is the reason why somewhere on either Spudfyre's or TEB's thread, somebody suggested using 32,3,3 as a longer term confirmation of an 8,3,3.

It is interesting that althoug I have often seem systems using 5,3,3 or 8,3,3 or even 14,3,3, it is only the first parameter which has been changed - the %D and Smoothing always seem to be kept at 3.

I attach the MTF_Stoch indicator should anybody want to use it. Note that for this Dazfx system, from what I understand, you would place it on a 1hr chart and set the following:
Timeframe = 240 i.e. minutes
Kperiod = 8
MAMethod = 1 0=SMA, 1=EMA
Price = 1 0 = High/Low, 1= Close/Close

I hope this helps,
Ian

Attached File(s)

#MTF Stochastic v2[1].0.mq4 6 KB | 672 downloads

#MTF Stochastic v2[1].0.ex4 8 KB | 576 downloads

#594
Apr 10, 2008 11:21am Apr 10, 2008 11:21am

ChowClown
| Joined Sep 2006 | Status: Trader | 944 Posts

Fantastic Ian, thanks v much

for your time and effort!

ATB and hope to see you in the room sometime.

#595
Apr 10, 2008 11:45am Apr 10, 2008 11:45am

mazdaz
| Joined Nov 2007 | Status: Watch Half Naked Charts | 202 Posts

Quoting popisdead

Disliked

suggested by wooley on TF1h

Ignored

TY for posting mate.

But may I know what its for?

#596
Apr 10, 2008 12:01pm Apr 10, 2008 12:01pm

popisdead
| Membership Revoked | Joined Dec 2007 | 539 Posts

Quoting mazdaz

Disliked

TY for posting mate.

But may I know what its for?

Ignored

still not sure how to use this effectively..
from the discussion on the room..

Quoting ChowClown

Disliked

like the way CoG curves in advance of price, as if predicting trend change....will dig around when i can set aside some time, to see how others are using it.

Ignored

we'll see..

pid

{Promotion Removed}

#597
Apr 10, 2008 1:33pm Apr 10, 2008 1:33pm

Noel
| Joined Sep 2006 | Status: Trader | 179 Posts

Hi Dazfx,

Looking forward to hearing about the advanced entry method for your system, hope to see you in the trading room soon.

#598
Edited 2:52pm Apr 10, 2008 2:07pm | Edited 2:52pm

Federali
| Joined Feb 2008 | Status: who are you? Im a Federali | 47 Posts

OK, i know my fib is off. but the EJ and PJ about to turn down. PINK is my 5SMA...NOW the stoch are above the 80 not crossed down...once it sets up...what would be the TPs on this PJ. thank you
OK...i did go back and i think i know the TPs...now the problem here for short is that there is a Phy level at 200.00 on PJ...that is before Tp1. So this trade would be skipped...or just us smaller $$$per pip.

Attached Image (click to enlarge)