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GBP/JPY for QQE Traders!

  • #2,261
  • Jul 2, 2008 11:10am Jul 2, 2008 11:10am
By the way, for the 4H I have both Alpari and ODL setup on my computer. the 4h candle closes 2 hours later on Alpari. Which means that sometimes the trade lines up on one and not the other. As long as I stick to one once I've picked the trade (ie not entrance through one and exit through another) then it covers my bases.[/quote]

Ah.. i was thinking of finding a different timeframe for that reason too... i use fxdd for charting and that is gmt plus 2.

I'll check out Alpari. Thanks for the info.

John
  • #2,262
  • Jul 2, 2008 1:38pm Jul 2, 2008 1:38pm
ODL is GMT, Alpari is GMT +2. So if you already have GMT +2 you might want to try ODL
  • #2,263
  • Jul 4, 2008 5:59am Jul 4, 2008 5:59am
The 15 Min strategy trades haven't been good to me this week, because the QQE60 has been crossing back and forth a lot. So lots of entries and exits soon after.

The charts show a bearish daily and a bearish 1H with only the 4H showing up bullish. Daily momentums showed that this would be a day with very little action and the public holiday in the US means that the volumes are low so the indicators become less reliable. Seem like the bearish rally is moving into place for next week.

As Karmo says, it seems to be all about the 4H QQE5 crossing down. That's when things could start happening.

Happy 4th of July to the Americans
  • #2,264
  • Jul 4, 2008 1:38pm Jul 4, 2008 1:38pm
Quoting TiaForex
The 15 Min strategy trades haven't been good to me this week, because the QQE60 has been crossing back and forth a lot. So lots of entries and exits soon after.

The charts show a bearish daily and a bearish 1H with only the 4H showing up bullish. Daily momentums showed that this would be a day with very little action and the public holiday in the US means that the volumes are low so the indicators become less reliable. Seem like the bearish rally is moving into place for next week.

As Karmo says, it seems to be all about the 4H QQE5 crossing down. That's when things could start happening.

Happy 4th of July to the Americans
I think G/J stopped trending this week, and it's just been ranging the past few days. Aus strategies are for a trending market. Here's what my 15min chart looks like. One day up, one day down, etc. Let's try to spend some time discussing trending vs. ranging.
Attached Image (click to enlarge)
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  • #2,265
  • Jul 5, 2008 6:20pm Jul 5, 2008 6:20pm
I’d say one of the biggest reasons for 15 minute strategy losses comes from taking trades while price is ranging instead of trending. I don’t think the strategy itself adequately identifies ranging conditions. It might do a fair job of keeping you on the “right side” of a trade, by using the 1hr 100sma and Daily 5sma. But I don’t think it goes the extra mile and protects you from taking a trade while price is merely ranging around.

Here’s a 1hr chart with an example of some trending days. It has a nice series of higher highs and higher lows. It’s easy to identify. No experience or indicators needed. But what about when it’s first starting? Or ending? Is there a way to identify these transitions? Or at least a strategy you can follow to minimize losses?
Attached Image (click to enlarge)
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  • #2,266
  • Edited 6:55pm Jul 5, 2008 6:33pm | Edited 6:55pm
Here's a 4hr chart of the past couple weeks. It appears we had an uptrend and then a short but strong downtrend. Then ranging or consolidating. I suspect only about half of these days would have profitable 15 minute strategy trades.
Attached Image (click to enlarge)
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  • #2,267
  • Jul 5, 2008 7:15pm Jul 5, 2008 7:15pm
When G/J has been ranging lately and you get a trade signal:

If price is already near the top or bottom of the daily range, you could pass up the trade unless you see it break out for a new high / low.

If price is not near the top or bottom of the daily range, you could choose a TP target near the top or bottom of the range, instead of going for a target beyond it.


Just some food for thought . . .
  • #2,268
  • Jul 5, 2008 7:15pm Jul 5, 2008 7:15pm
Even with the SMA and DP conditions Aus put in to eliminate signals during the ranging markets it still shows the odd blip. But leaving the trade when the QQE60 crosses the other way usually gets you out at break even.

It certainly looks like a range as the market decides whether to change from an uptrend to a downtrend. Consolidation is a good thing, I think. The longer it consolidates the bigger the breakout when it comes. Karmo has been convinced of an imminent downturn for a while.

Do you have any convincing strategies for ranging markets or do you just stay out?
  • #2,269
  • Jul 5, 2008 8:18pm Jul 5, 2008 8:18pm
Quoting TiaForex
Even with the SMA and DP conditions Aus put in to eliminate signals during the ranging markets it still shows the odd blip. But leaving the trade when the QQE60 crosses the other way usually gets you out at break even.

It certainly looks like a range as the market decides whether to change from an uptrend to a downtrend. Consolidation is a good thing, I think. The longer it consolidates the bigger the breakout when it comes. Karmo has been convinced of an imminent downturn for a while.

Do you have any convincing strategies for ranging markets or do you just stay out?
I keep trading. I'll buy dips and sell peaks, looking for areas of S/R whether it's fibs, MA's, pivot points, or trend lines. Also 5min and 15min chart scalp trades using QQE5 and QQE60. Also nice looking 1hr / 4hr QQE lineups even if they're not true 4hr/1hr strategy setups. I also play retraces a lot, especially during Asian session. I'm learning DIBS right now too, which uses inside bars on the 1hr chart.
  • #2,270
  • Jul 5, 2008 10:22pm Jul 5, 2008 10:22pm
Quoting Pips_Cruiser
When G/J has been ranging lately and you get a trade signal:

If price is already near the top or bottom of the daily range, you could pass up the trade unless you see it break out for a new high / low.

If price is not near the top or bottom of the daily range, you could choose a TP target near the top or bottom of the range, instead of going for a target beyond it.


Just some food for thought . . .
That's great advice and makes perfect sense. I wonder if Bollinger Bands would help during a range. I've never used them myself.
  • #2,271
  • Jul 5, 2008 10:28pm Jul 5, 2008 10:28pm
Quoting Pips_Cruiser
I keep trading. I'll buy dips and sell peaks, looking for areas of S/R whether it's fibs, MA's, pivot points, or trend lines. Also 5min and 15min chart scalp trades using QQE5 and QQE60. Also nice looking 1hr / 4hr QQE lineups even if they're not true 4hr/1hr strategy setups. I also play retraces a lot, especially during Asian session. I'm learning DIBS right now too, which uses inside bars on the 1hr chart.
As a relative newbie I am concentrating on trend trades at the moment but am learning the obscure ways of the momentum indicator, which is good for signalling retraces.

DIBS is on my list. I think it might even be the next one to learn. It seems that price action and indicators are such different philosophies. But I like how DIBS keeps it very simple.

By the way, when you're trading 1h4h setups which are not "perfect" where do you allow some leeway to creep in?

Hope you're having a good holiday weekend.
  • #2,272
  • Edited Jul 7, 2008 7:08pm Jul 6, 2008 8:52pm | Edited Jul 7, 2008 7:08pm
Quoting TiaForex
As a relative newbie I am concentrating on trend trades at the moment but am learning the obscure ways of the momentum indicator, which is good for signalling retraces.

DIBS is on my list. I think it might even be the next one to learn. It seems that price action and indicators are such different philosophies. But I like how DIBS keeps it very simple.

By the way, when you're trading 1h4h setups which are not "perfect" where do you allow some leeway to creep in?

Hope you're having a good holiday weekend.
I had a great Fourth! The US Olympic track and field try outs are going on not far from where I live. There was also an outdoor Blues Festival not far away. It made for some nice variety during the long weekend.

I want to eventually trade indicator free most of the time, and maybe even all of the time. But I'm not quite ready for that jump yet. The 1hr4hr setup I mentioned is something I use now and then for London session. I check to see if the 1hr and 4hr QQE's are crossed the same direction, and that price is on the same side of their Gann's, and that price is firmly planted on the correct side of the daily pivot. If all of this is lined up I'll look around for good TP and SL areas, based on S/R. If I see a possibility with good MM, I tend to take it. The target might be a pivot, a fibo level, an MA, or a trend line.
  • #2,273
  • Jul 7, 2008 4:31am Jul 7, 2008 4:31am
Quoting Pips_Cruiser
I had a great Fourth! The Olympic track and field finals are going on not far from where I live. There was also an outdoor Blues Festival not far away. It made for some nice variety during the long weekend.

I want to eventually trade indicator free most of the time, and maybe even all of the time. But I'm not quite ready for that jump yet. The 1hr4hr setup I mentioned is something I use now and then for London session. I check to see if the 1hr and 4hr QQE's are crossed the same direction, and that price is on the same side of their Gann's, and that price is firmly planted on the correct side of the daily pivot. If all of this is lined up I'll look around for good TP and SL areas, based on S/R. If I see a possibility with good MM, I tend to take it. The target might be a pivot, a fibo level, an MA, or a trend line.
Sounds like a great weekend. It was good weather here in London until yesterday afternoon and now it's grey and rainy...

That sounds very similar to the main 1h4h strategy with the exception that you don't wait for the point at which the qqe5 crosses the 50 line, and you add the help of the DP, adapting your targets accordingly with the help of the S/R levels you talked about. I'll keep an eye on that.

GJ is definitely ranging now. I think it's a good time to spend some time learning another method.

I'll give DIBS a go and join you on that thread. Like you I'd like to be indicator free one day, but I am acutely aware of the newbie trap of going from system to system without fully getting to grips with one. There's so much information in those Aus threads and I seem to have read every one of his posts 3 times, each time learning more.

If there are any more QQE prospects I'll post them here for mutual analysis when I see them. By the way, is QQE similar to the MACD?
  • #2,274
  • Jul 7, 2008 5:19pm Jul 7, 2008 5:19pm
I recently got ahold of a copy of Gerald Appel's original write up on his MACD. He uses 6-19-6 for early entry and I use it to conferm the QQE5 and the GANN. It has been very helpful. When they match it is GOOD.

My method for getting out of a trade is support and resistance. I havn't heard of anyone doing this - for the 4 hr. chart I switch it to the weekly chart and I put a thin green line at the top and bottom of each candle. Then I switch back to the 4 hr. You would be supprised at how things match up. If your trade goes right through a green line I stay in. If it stops or pauses for a bit I get out. Compound. And wait to see if it goes through the bar. If it does I get in again. I also use the fib. fan. WHen a fib line matches up with a green line you know you have a STRONG resistance or support line.
And don't forget to reduce your chart so you can see back several weeks and put in your long term trend lines. I have found the long term lines hold more weight than the short term lines you would put in.

I have tried so many things in the past 2 years with little success and with this "system" of mine I am having REALLY GOOD success! I keep an eye on volumn too. When it is low the trade is not as reliable.
  • #2,275
  • Jul 7, 2008 11:41pm Jul 7, 2008 11:41pm
Quoting cybernan
I recently got ahold of a copy of Gerald Appel's original write up on his MACD. He uses 6-19-6 for early entry and I use it to conferm the QQE5 and the GANN. It has been very helpful. When they match it is GOOD.

My method for getting out of a trade is support and resistance. I havn't heard of anyone doing this - for the 4 hr. chart I switch it to the weekly chart and I put a thin green line at the top and bottom of each candle. Then I switch back to the 4 hr. You would be supprised at how things match up. If your trade goes right through a green line I stay in. If it stops or pauses for a bit I get out. Compound. And wait to see if it goes through the bar. If it does I get in again. I also use the fib. fan. WHen a fib line matches up with a green line you know you have a STRONG resistance or support line.
And don't forget to reduce your chart so you can see back several weeks and put in your long term trend lines. I have found the long term lines hold more weight than the short term lines you would put in.

I have tried so many things in the past 2 years with little success and with this "system" of mine I am having REALLY GOOD success! I keep an eye on volumn too. When it is low the trade is not as reliable.
You've usually got something interesting to say, nan. Thanks for dropping by and sharing your insights with us young uns.

  • #2,276
  • Jul 8, 2008 9:02am Jul 8, 2008 9:02am
I think everyone has to build their own trading system. I hope the things that work for me don't take you off the track you are on. But I thought you might be interested.

Yes, I am a Senior. Very very senior in fact. Good luck with all your future trading. For me the learning has been as much fun as finally winning at it.
Last post.
  • #2,277
  • Jul 8, 2008 7:05pm Jul 8, 2008 7:05pm
Quoting cybernan
I think everyone has to build their own trading system. I hope the things that work for me don't take you off the track you are on. But I thought you might be interested.

Yes, I am a Senior. Very very senior in fact. Good luck with all your future trading. For me the learning has been as much fun as finally winning at it.
Last post.
Thanks. Hope to see you back soon!
  • #2,278
  • Jul 8, 2008 7:10pm Jul 8, 2008 7:10pm
[quote=TiaForex;2094574]Sounds like a great weekend. It was good weather here in London until yesterday afternoon and now it's grey and rainy...

That sounds very similar to the main 1h4h strategy with the exception that you don't wait for the point at which the qqe5 crosses the 50 line, and you add the help of the DP, adapting your targets accordingly with the help of the S/R levels you talked about. I'll keep an eye on that.

GJ is definitely ranging now. I think it's a good time to spend some time learning another method.

I'll give DIBS a go and join you on that thread. Like you I'd like to be indicator free one day, but I am acutely aware of the newbie trap of going from system to system without fully getting to grips with one. There's so much information in those Aus threads and I seem to have read every one of his posts 3 times, each time learning more.

If there are any more QQE prospects I'll post them here for mutual analysis when I see them. By the way, is QQE similar to the MACD?[/quote]

I don't use the MACD or Bollinger Bands in my trading. But here's something I've been reading:

MACD:

http://www.investopedia.com/articles...ACDdiverge.asp

http://www.forexrealm.com/technical-...tors/macd.html

RSI:

http://www.forexrealm.com/technical-...gth-index.html

http://www.actionforex.com/articles-...2007121733643/

RSI with Bollinger Bands:

http://forex.gftforex.com/public/item/169157



P.S. - RSI articles are listed because that's what the QQE is based on.
  • #2,279
  • Jul 8, 2008 7:13pm Jul 8, 2008 7:13pm
Quoting TiaForex
That's great advice and makes perfect sense. I wonder if Bollinger Bands would help during a range. I've never used them myself.
I might experiment around with that . . .
  • #2,280
  • Jul 9, 2008 3:03pm Jul 9, 2008 3:03pm
[quote=Pips_Cruiser;2098292]
Quoting TiaForex
Sounds like a great weekend. It was good weather here in London until yesterday afternoon and now it's grey and rainy...

That sounds very similar to the main 1h4h strategy with the exception that you don't wait for the point at which the qqe5 crosses the 50 line, and you add the help of the DP, adapting your targets accordingly with the help of the S/R levels you talked about. I'll keep an eye on that.

GJ is definitely ranging now. I think it's a good time to spend some time learning another method.

I'll give DIBS a go and join you on that thread. Like you I'd like to be indicator free one day, but I am acutely aware of the newbie trap of going from system to system without fully getting to grips with one. There's so much information in those Aus threads and I seem to have read every one of his posts 3 times, each time learning more.

If there are any more QQE prospects I'll post them here for mutual analysis when I see them. By the way, is QQE similar to the MACD?[/quote]

I don't use the MACD or Bollinger Bands in my trading. But here's something I've been reading:

MACD:

http://www.investopedia.com/articles...ACDdiverge.asp

http://www.forexrealm.com/technical-...tors/macd.html

RSI:

http://www.forexrealm.com/technical-...gth-index.html

http://www.actionforex.com/articles-...2007121733643/

RSI with Bollinger Bands:

http://forex.gftforex.com/public/item/169157



P.S. - RSI articles are listed because that's what the QQE is based on.

More reading. Another reason for my wife to be angry at me....

Thanks for the links. Will investigate them tomorrow. Have just joined James16 website and am staggered by the quality of the information there.

On the QQE front, GY seems to be ranging like crazy. I am using the Gann and the QQE5 to identify the trend like karmo does, but it looks like it can't make up its mind. Daily, 4hr and 1hr are choppy and in conflict.

Confession time. I've taken some trades out of boredom and got lucky. That behaviour will kill me in the long run, so I'm fessing up. Forgive me father for I have sinned...

I wonder if the Gann/QQE5 way of reading trends works on other pairs. I am concentrating my learning on the GY so as to avoid the newbie's disease of running round like a headless chicken trading every pair and strategy on offer.

I've also abandoned DIBS because of some stuff I read on James16's forum. I think it needs to be worked by a very experienced hand in conjunction with deep familiarity with the pair. I'm simply not at that stage yet. Some in depth Price Action study will help.

Sorry to veer slightly off topic.

Back to the QQE. My understanding is that the QQE5 (or strength indicator as we used to call it) replaces the MACD, as well as RSI and stochastics. Aus himself said that the GAnn and QQE5 were the two main indicators and everything else was used for backup.

Does anyone else have anything to say about using the QQE in conjunction with the indicators it's 'supposed' to replace. Thanks Cyber for your post. That's definitely something to chew on and I hope we see you again here soon.
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