GBP/JPY for QQE Traders!

Quoting Pips_Cruiser

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You've touched on what I think is the biggest problem with this strategy. The daily pivots and the way they're recalculated for each session. It would be a lot less trouble if it wasn't for daylight savings time (and multiple brokers, and multiple trading platforms).

You're in the UK and they switched to daylight savings time recently. While on standard time your clocks were in sync with GMT; but with daylight savings time you are now 1 hour ahead of GMT. Since you're using MT4 and your broker is on GMT time, give this a try:

For London session change the pivot at 08:00 (8AM) UK time, but use 7 for the DayStartHour setting. This way you'll be changing the pivot at the actual start time of the session, and you'll use the correct GMT time for the settings.

For NY session change the pivot at 16:00 (4PM) UK time, and use 12 for the setting. For Tokyo session change the pivot at 23:00 (11PM) UK time, and use 24 for the setting. NY is on daylight savings time, but Tokyo is not.

I think this will get things squared away for you. But it will change again when the UK and US switch back to standard time.

Lately I've been using the 15min 100sma moving average instead of the session daily pivots. The 30min 50sma would also work, as would the 1hr 25sma. All of these are basically 1 day price averages, much like daily pivots. I make sure price is on the correct side of them before taking a trade.

For TP targets I've been using the standard daily pivots, a fixed number of pips, a likely area of S/R using fibs, a major moving average, or a price area on the chart that shows historical S/R. If the trade isn't taken during prime hours, I usually treat it as a scalp and reduce the pip target and risk.

P.S. - Lately I've been doing without the LSR (level stop reverse indicator) as well. I also wonder why we need both the 1hr 100sma and the Daily 5sma in the strategy. The 1hr 100sma is basically a 4 day price average, and the Daily 5sma is a 5 day price average. Maybe one of these would suffice.

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Quoting Kenu

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Hi Pip Cruiser,

I wonder if you can help me ith 2 indicators; Do you by any chance have the indicator for the daily pivot so that I can change the settings according to the different time zones (Tokyo, London NY etc.) regarding the QQE strategy as I'm not sure that my daily pivot indicator has this facility to do this.

Also do you have the indicator (the trend lines above and below the candlesticks) that is shown on the chart below that you posted as I seem I cannot find it on this thread.

Many thanks and your contribution is much appreciated on this thread to those getting aquaited with the QQE strategy.

Regards,
Kenu

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Quoting TiaForex

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I'll give that method a try later this week. Thanks.

I'm currently trying to get to grips with Auslanco's 15m and 1hr/4hr strategy, both of which use QQE5 and QQE60 a lot. The problem I've had today is that the 15M strategy has generated 2 different sell signals both of which reversed on me quickly and for losses (don't worry I've been demoing while I learn so no money lost). The QQE60 on the 15M is crossing all over the place.

I'm using the latest version of the strategy with the DP, 100 SMA and daily 5SMA checks but these sell signals came below all those levels. I know Aus says his 15M strategy signal is his priority, so I'm just wondering what am I missing looking at the charts.

Can you guys (if you're familiar with the strategy) tell me what would have made you stay out of those trades?

I should add that I know that losses are part of the game and if this was one of those occasions then no problem. I just want to be doubly sure that I didn't miss something that should have kept me out of the market.

I noticed the price bounced off the 50EMA on the 4HR but I didn't know if that was a crucial support level. But what I'm learning is that if I put every EMA, SMA, fibo level and pivot point S/R level on the chart then I'd see resistance or support everywhere and I would never take a trade.

I'm also trying to read the momentum indicators from Aus' other thread which is proving interesting. Very hard to work out which one takes priority. I use the 1C, 10C, 14C and the stochastic RSI together with the 5SMA channel as recommended by Aus. Anyone else had success with that approach?

Fascinating to watch you guys talk about the QQES PC and Nobitacu, I've bookmarked that to return to when I have a bit more knowledge.

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Quoting Nobitacu

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TP hit for the GJ earlier, 50 pips bagged. EJ TP also hit, 25 pips bagged. EU might confirm later for a Buy once QQE30 confirms. Pretty good day so far I'd say.

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Quoting Pips_Cruiser

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The Pip Machine is at it again!!

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Quoting Kenu

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Hi Pip Cruiser,

I wonder if you can help me ith 2 indicators; Do you by any chance have the indicator for the daily pivot so that I can change the settings according to the different time zones (Tokyo, London NY etc.) regarding the QQE strategy as I'm not sure that my daily pivot indicator has this facility to do this.

Also do you have the indicator (the trend lines above and below the candlesticks) that is shown on the chart below that you posted as I seem I cannot find it on this thread.

Many thanks and your contribution is much appreciated on this thread to those getting aquaited with the QQE strategy.

Regards,
Kenu

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Quoting Pips_Cruiser

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Hi TiaForex,

You’re making some good observations and asking intelligent questions. It’s pretty clear that you’re studying other threads, testing strategies on demo, and that you’re sincere about learning more. It’s an unfortunate fact that all of Auslanco’s strategies have suffered on FF from his absence. I’d like to recommend that you visit his blog site.

http://auslanco-fx.blogspot.com/

You might even want to subscribe to his service for a while. I’ve heard there’s an online chat group and that he visits it regularly. I think you owe it to yourself to ask the right person the questions. Here’s what his blog site currently has for the 15 minute strategy:

http://www.auslanco-15.blogspot.com/

One thing I like about this particular page is what he says at the end. It reinforces my own experiences with this strategy:

Best Times to trade :

After 01.00AM EST ( 06.00GMT) to 11.00AMEST (16.00GMT)

Things to remember:

Before you enter a trade, please check for a good profit to loss ratio to the next support or resistance level (TP level). If not do not take the trade.

This system is not the holy grail in Forex. There will be many losing trades during the ranging markets. Always make sure to secure some pips every 30 to 40 pip move and move your stop loss forward.

This strategy is developed only for GBP/JPY pair. However there are some traders who use different settings on the same strategy for other pairs. You are more than welcome to experiment with things.

You must not trade this strategy until you are fully comfortable trading this on a demo account. There are many more things such as indicator behaviors, timing, etc., that you will learn only by studying the price action on your own charts.

You’ll probably also have access to better information about his daily momentum strategy there. I think it was mostly still a work in process while the FF thread was alive.

Please give this a try, then come back and let us know what you've learned. We could use some assistance here . . .

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Quoting TiaForex

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Thanks for the encouragement PipCruiser and for the links.

I've actually been to asulanco's blogs and his other website too, which is currently down. I'm also a member of his premium service and have been in his room for about six weeks listening and learning. Unfortunately he went on holiday about a month ago just as I was starting to pick up knowledge. (I didn't really want to ask him stupid questions until I'd read everything he'd written on FF) and he was due back last week. I hope he's okay. Until then I am deciphering everything he posted.

I have a friend who is also highly capitalised who has made a fortune through auslanco's methods. He put me onto this site, and given that I ultimately have a lot of capital to invest, I wanted to do it by the book and spend a good few months demoing and most importantly learning before investing even a tiny amount of it.

I've found it useful to watch the datestamps of all Aus' posts so I can get the most recent version of his strategies. The most current 15M is posted late on his 15M thread in green ink. The Mom was never posted as an official strategy but I know from his chatroom and service that he swears by the 3 MOM indicators and uses them to predict price action for the day. He was also getting quite excited about some new projects which he mentioned in the chatroom which I can't really talk about publicly. I'm sure he wouldn't mind, I'm just observing the courtesy. What happens in Vegas stays in Vegas....

I've now read all all of his strategy threads (except the newstrade one which I got about 350 pages in before giving up....although I read that every day). It's a shame he's away and his main website is down but it gives me time to research.

Today I'm going to plough through the DIBS method and read about the James16 group that everyone recommends. I'm not looking for a dozen strategies but those seem like essential reading. I'm also seeing how everyone who proclaims themselves an expert isn't necessarily one on here and sometimes the loudest voices know the least...

I know it's possible to make a very good living in forex, expecially when you're highly capitalised, and to enjoy the intellectual challenge. I'm looking forward to getting there.

By the way, the section you quote is one of my favourite pieces of writing of his and it's good to be reminded of it. In my memory he'd written that before adding the extra conditions of the 1H 100 SMA, the D5 SMA and the DP to filter out bad trades during the ranging markets. But I was wrong, they are all there. So losing trades are part of the game. I'm going to demo it over 100 or so trades following the rules strictly and see what I get.

I'm also going to try and read and interpret daily momentums every day and compare them with the price action by the end of the day. I'll let you know how I get on.

Once again thanks for your help, advice and encouragement. It's much appreciated....

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Quoting TiaForex

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Thanks for the encouragement PipCruiser and for the links.

I've actually been to asulanco's blogs and his other website too, which is currently down. I'm also a member of his premium service and have been in his room for about six weeks listening and learning. Unfortunately he went on holiday about a month ago just as I was starting to pick up knowledge. (I didn't really want to ask him stupid questions until I'd read everything he'd written on FF) and he was due back last week. I hope he's okay. Until then I am deciphering everything he posted.

I have a friend who is also highly capitalised who has made a fortune through auslanco's methods. He put me onto this site, and given that I ultimately have a lot of capital to invest, I wanted to do it by the book and spend a good few months demoing and most importantly learning before investing even a tiny amount of it.

I've found it useful to watch the datestamps of all Aus' posts so I can get the most recent version of his strategies. The most current 15M is posted late on his 15M thread in green ink. The Mom was never posted as an official strategy but I know from his chatroom and service that he swears by the 3 MOM indicators and uses them to predict price action for the day. He was also getting quite excited about some new projects which he mentioned in the chatroom which I can't really talk about publicly. I'm sure he wouldn't mind, I'm just observing the courtesy. What happens in Vegas stays in Vegas....

I've now read all all of his strategy threads (except the newstrade one which I got about 350 pages in before giving up....although I read that every day). It's a shame he's away and his main website is down but it gives me time to research.

Today I'm going to plough through the DIBS method and read about the James16 group that everyone recommends. I'm not looking for a dozen strategies but those seem like essential reading. I'm also seeing how everyone who proclaims themselves an expert isn't necessarily one on here and sometimes the loudest voices know the least...

I know it's possible to make a very good living in forex, expecially when you're highly capitalised, and to enjoy the intellectual challenge. I'm looking forward to getting there.

By the way, the section you quote is one of my favourite pieces of writing of his and it's good to be reminded of it. In my memory he'd written that before adding the extra conditions of the 1H 100 SMA, the D5 SMA and the DP to filter out bad trades during the ranging markets. But I was wrong, they are all there. So losing trades are part of the game. I'm going to demo it over 100 or so trades following the rules strictly and see what I get.

I'm also going to try and read and interpret daily momentums every day and compare them with the price action by the end of the day. I'll let you know how I get on.

Once again thanks for your help, advice and encouragement. It's much appreciated....

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Quoting Nobitacu

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Hello Kenu,

I believe this is the pivot indicator you're looking for. Not sure about that "other" indicator however. But that just shows the high and low for that trading day, so it's not required to trade the Aus QQE strategy. PC also uses a different platform to trade, so maybe that's a indicator that comes with his platform, I'm sure there's also an indicator like that for MT4 as well, just have to find it some how...

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Quoting Pips_Cruiser

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Hi Kenu. My VT charts automatically segregate the trading days on the 1hr chart. On the daily chart the trading weeks are segregated. No indicator is needed for it. Nobi gave you the correct pivot point indicator for MT4.

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Quoting Kenu

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Thanks Pips Cruiser. It now makes sense now that I know that you are using VT charts.

I'm still having a slight difficulty though with my QQE as it is showing different cross-over points compared to someone else' I know who has exactly the same indicator version, platform and timeframe . Did your QQE cross over at 11am yesterday as the attachment shows to clarify my point?

Thanks for your patience regarding this QQE strategy

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Quoting Kenu

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Thanks Pips Cruiser. It now makes sense now that I know that you are using VT charts.

I'm still having a slight difficulty though with my QQE as it is showing different cross-over points compared to someone else' I know who has exactly the same indicator version, platform and timeframe . Did your QQE cross over at 11am yesterday as the attachment shows to clarify my point?

Thanks for your patience regarding this QQE strategy

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Quoting Nobitacu

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by the way... I need one more vouch for 1KT status... know anyone that could vouch for me? ^^

Thanks...

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Quoting Pips_Cruiser

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Congrats sir!

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