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  • #621
  • Apr 23, 2008 9:32pm Apr 23, 2008 9:32pm
Hello Everyone,

Excellent thread. thanks to all and especially to Waterflame for posting this method. I am manually testing this method and came across many situations where we get the signal and trend continues for more than 24 hours some times even 2 days and obviously it is difficult to monitor trade for 2 days, one of the post it was mentioned that when CCI crosses 100 again we can reenter the trade in the trend direction or take profit and wait for another signal. Is the any other way to reenter the trade instead of waiting for the reversal signal. I am posting a GBPUSD 15 min chart where i have marked the begening and end of the trend in Blue rectangle, trend started around 2/14/2008 18.30 GMT and ended 2/15/2008 23.00.


I will appreciate any comments regarding this.


Dennis.
Attached Image (click to enlarge)
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  • #622
  • Apr 24, 2008 12:05am Apr 24, 2008 12:05am
Quoting sukusun
Hello Everyone,

Excellent thread. thanks to all and especially to Waterflame for posting this method. I am manually testing this method and came across many situations where we get the signal and trend continues for more than 24 hours some times even 2 days and obviously it is difficult to monitor trade for 2 days, one of the post it was mentioned that when CCI crosses 100 again we can reenter the trade in the trend direction or take profit and wait for another signal. Is the any other way to reenter the trade instead of waiting for the reversal signal. I am posting a GBPUSD 15 min chart where i have marked the begening and end of the trend in Blue rectangle, trend started around 2/14/2008 18.30 GMT and ended 2/15/2008 23.00.


I will appreciate any comments regarding this.


Dennis.
One option is to follow the trade for the first five to six hours. Once the initial profit is locked in, then set a trailing stop and enjoy the rest of the ride on the trend.
  • #623
  • Apr 24, 2008 8:11pm Apr 24, 2008 8:11pm
Folks,

a friend of most people, a real altruiste, have coded some a first version of this statement of the method of trading in this thread.

Thank you very much TheLion ( also known as nittany on forex-tsd )

its an amazing guy

here is the post

http://www.forex-tsd.com/expert-advi...d-catcher.html
  • #624
  • Apr 24, 2008 8:41pm Apr 24, 2008 8:41pm
Quoting Clansman
One option is to follow the trade for the first five to six hours. Once the initial profit is locked in, then set a trailing stop and enjoy the rest of the ride on the trend.

you are welcome Sukusun...

and thank you Clansman for your help, also Trader4Life for his recomandation of weak session targets, to share with others his experience
  • #625
  • Apr 25, 2008 2:35am Apr 25, 2008 2:35am
Quoting Waterflame
you are welcome Sukusun...

and thank you Clansman for your help, also Trader4Life for his recomandation of weak session targets, to share with others his experience
You are welcome Waterflame. Congratulations on developing a solid system.
  • #626
  • Apr 25, 2008 5:13am Apr 25, 2008 5:13am
Quoting Waterflame
Hi all,

i researched another sweet tool what can you help for identifying the right candles for entry, if you still have problems to identify advertising and confirmation candles, with the Ma candle indicator.

This one is much easier, you wait just for the apearing of the dot, and not changing color of any candle.

I hope it helps you ...

Regards


http://www.abload.de/img/samplehln.gif
so the entry point will be?not the dot only right? an elaboration would be appreciate.....
  • #627
  • Apr 29, 2008 7:55pm Apr 29, 2008 7:55pm
Quoting B@by trader
so the entry point will be?not the dot only right? an elaboration would be appreciate.....
Apologize Babytrader, i just haven't the time the last days to answer, i will clearify it for you.

No rules were changed, but just to watch at the 3 Ema, use the dots as a plus for entry, to be assured of the Confirmation candle, and entry signal.

have fun
  • #628
  • Apr 29, 2008 8:17pm Apr 29, 2008 8:17pm
I know at the beginning there were 4 pairs suggested but I reckon by now people may have tried on on a few others.

Are there any pairs it really seems to work particularly bad on, or vice versa? GBP/JPY seems to be the consensus pair for most movement.
  • #629
  • Apr 30, 2008 9:56am Apr 30, 2008 9:56am
Hello,

could you try to explain what kind of market condition this chart says. I would like to understand if this was a good idea to start a trade

long @ 1.5571 within confirming candle near 34 SMA

  1. advertising candle looked ok to me...
  2. market conditions looked fine to me too...
  3. out on stop 1.5561
  4. stop was at the low of the confirming candle


http://www.chixpoint.com/chart.jpg

  • #630
  • Apr 30, 2008 11:25am Apr 30, 2008 11:25am
Quoting li0uid
Hello,

could you try to explain what kind of market condition this chart says. I would like to understand if this was a good idea to start a trade

long @ 1.5571 within confirming candle near 34 SMA

  1. advertising candle looked ok to me...
  2. market conditions looked fine to me too...
  3. out on stop 1.5561
  4. stop was at the low of the confirming candle

Hello

it seam's to me sick market
Attached Image (click to enlarge)
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  • #631
  • Apr 30, 2008 11:40am Apr 30, 2008 11:40am
Look this one, I always wait this market figure now before entry
A+
Attached Image (click to enlarge)
Click to Enlarge Name: healthy.gif Size: 35 KB
  • #632
  • Apr 30, 2008 1:55pm Apr 30, 2008 1:55pm
hm yeah would be cool to get more examples on good/bad market conditions
  • #633
  • Apr 30, 2008 2:07pm Apr 30, 2008 2:07pm
Quoting li0uid
hm yeah would be cool to get more examples on good/bad market conditions

guys, you don't join the chat i have mentioned, im all the time there, may idle, but in most important times of trading im will answer your questions at release, there are some realy good other traders there, who will help you and answer your questions about elite, or forex in general.

To answer your questions immidiatly will have more value as to post threads.

I will still some answers here, but not as often .

thank you
  • #634
  • Apr 30, 2008 2:17pm Apr 30, 2008 2:17pm
heh water, i would like to do so but i am not able to connect to the irc server you posted. maybe itīs another port than 6667 ? could you please send me the full irc server adress again.
  • #635
  • Apr 30, 2008 6:13pm Apr 30, 2008 6:13pm
gbpjpy looks like a great entry to long at 206.50 on 5min chart during the asian market now. the TP will be 206.68 - 2/3 of position. the 1/3 will adjust stop accordingly in case this moves near 206.85 to 207 range.
  • #636
  • Apr 30, 2008 6:17pm Apr 30, 2008 6:17pm
Quoting li0uid
heh water, i would like to do so but i am not able to connect to the irc server you posted. maybe itīs another port than 6667 ? could you please send me the full irc server adress again.

go to post #580. click on that link and you should be able to get in.
  • #637
  • May 1, 2008 2:26am May 1, 2008 2:26am
Hi guys. I tried the post 580 to get into the room, but it still didn't work. I sure would like to utilize live trading through that room. thxs in advance
  • #638
  • May 1, 2008 2:49pm May 1, 2008 2:49pm
Download http://www.mirc.com/get.html


type in status window /server europa.ircforex.com

type in status window /join #Eliteforex
  • #639
  • May 3, 2008 8:23pm May 3, 2008 8:23pm
Waterflame,

I like your system. My charts are set-up exactly like yours and I have read
through all these posts a couple of times now and I understand the system.

Question (?). I use constant range candles set at 7 or 9 depending on
speed of market. I have found that I don't like full candles as they are
unpredictable. Is it possible to use your system using range price bars?

Everything else is the same, advertising candle then entry candle.
The CCI with the histogram is a very nice indicator set at 34.

Thanks

snarlyjack
  • #640
  • May 4, 2008 9:41pm May 4, 2008 9:41pm
Quoting snarlyjack
Is it possible to use your system using range price bars?


snarlyjack

you are welcome snarlyjack,

yes sure you can use range price bars, personaly i choosed candlesticks to get an idea of price information, but if you know you are able to trade RPB's, go for it...

take care of line charts, it gives only closed price to consider, price breaking of the SMA 34 can in this case almost result in fakes, thats why we are using candles.
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