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AshFX Daily

  • #1,341
  • Jul 15, 2008 8:23pm Jul 15, 2008 8:23pm
Just wanna share this MM videos.

Money Management. http://forexfactory.com/images/icons/icon14.gif
  • #1,342
  • Jul 15, 2008 9:25pm Jul 15, 2008 9:25pm
Quoting trader8686
Great, and in that (sell signal) you are only checking at the Stochs red line or both (red and blue) lines?



Trader8686
---------------------------
Just like to learn it better!
The EA checks many things but it doesn't change the fact that it was a 2nd strength trade according to the rules of the AshFX system. The stoch position is one of the major factors in deciding 1st or 2nd strength and the EA doesn't look at shades of 50. It's either above or below.
  • #1,343
  • Jul 16, 2008 12:26am Jul 16, 2008 12:26am
Quote
mtaboneweb
Member

your really doing a great job!
I will wait for the final version of the EA to be realeased! Will this take a month before you can release it?
  • #1,344
  • Jul 16, 2008 2:04am Jul 16, 2008 2:04am
What a trending day on all pairs
EJ and UJ both hit 1st TP
  • #1,345
  • Jul 16, 2008 2:07am Jul 16, 2008 2:07am
Quoting nvwine
I don't see how your beginning of the week short EURJPY trade had anything to do with your AshFX Daily system. Was this just a trade you took based on another trading setup? Other than the candle being to long for you to enter a real trade, the EURJPY signaled yesterday for a full AshFX Daily trade today. At least the way I see it.

Yep, I entered on another system of mine. I actually called this short on the weekend (to those on my private list of Forex Moment Maps).
  • #1,346
  • Jul 16, 2008 2:14am Jul 16, 2008 2:14am
Quoting forexmoments
Ok guys, this is my recommendation for tonight, and what trades I am taking:

Short - Eur/Gbp (FIRST STRENGTH TRADE).
Enter @ 0.7933, SL @ 0.7983, TP1 @ 0.7883, TP2 @ AO turns green.

My advice is not to short Eur/Chf, the candle is relatively long,

Concerning Eur/Jpy and Gbp/Jpy, (not only are the candles too long),
sorry, newbie asking here, why you concern the lenght of the candle? some people say it shows the trend, do you mind explain that, thanks a bunch .
  • #1,347
  • Jul 16, 2008 2:20am Jul 16, 2008 2:20am
Quoting femzy112
What a trending day on all pairs
EJ and UJ both hit 1st TP
I'm curious what your first TP was on these 2 trades. Based on the standard AshFX rules as I understand it, the first TP for EJ would be over 200 pips and over 150 pips for UJ. While both these trades are in profit currently, they're nowhere near those targets.
Greetings from Guanajuato, Mexico
  • #1,348
  • Jul 16, 2008 2:28am Jul 16, 2008 2:28am
Quoting yen44x
I'm curious what your first TP was on these 2 trades. Based on the standard AshFX rules as I understand it, the first TP for EJ would be over 200 pips and over 150 pips for UJ. While both these trades are in profit currently, they're nowhere near those targets.
yen; personally i simply take them in 50s
  • #1,349
  • Jul 16, 2008 2:30am Jul 16, 2008 2:30am
Quoting femzy112
yen; personally i simply take them in 50s
Well good for you . . . you've banked some definite profits then.
Greetings from Guanajuato, Mexico
  • #1,350
  • Jul 16, 2008 2:33am Jul 16, 2008 2:33am
yen are you in any trades currently??
  • #1,351
  • Jul 16, 2008 4:52am Jul 16, 2008 4:52am
Quoting forexmoments
Ok guys, this is my recommendation for tonight, and what trades I am taking:

Short - Eur/Gbp (FIRST STRENGTH TRADE).
Enter @ 0.7933, SL @ 0.7983, TP1 @ 0.7883, TP2 @ AO turns green.

My advice is not to short Eur/Chf, the candle is relatively long, and there's strong imminent support. Same goes for Eur/Aud. Also, Aud/Cad has way too much resistance, so I'm not trading that.

Concerning Eur/Jpy and Gbp/Jpy, (not only are the candles too long), in fact I am short since market open on Eur/Jpy & Gbp/Jpy, and now may be too late to enter.
Hi Anyone,

Something is really bugging me and i need an answer so i can go forward with more confidence when placing trades.
When Ash says that it is a first strength trade that is because the STOCHS have not crossed the 50 line
Now what i would like to know is which line is the signal line that determines a first strength trade
As you can see from the chart attached the red line has not crossed the 50 line as of 2nd cnadle so am i right in assuming that this is the line that Ash refers to when he says that it is a first strength trade becuase this red line has not crossed the 50 line

Also what does the blue line represent

Thanks
Paul
Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp.gif Size: 39 KB
  • #1,352
  • Jul 16, 2008 5:29am Jul 16, 2008 5:29am
Quoting pbalfe@tisca
Hi Anyone,

Something is really bugging me and i need an answer so i can go forward with more confidence when placing trades.
When Ash says that it is a first strength trade that is because the STOCHS have not crossed the 50 line
Now what i would like to know is which line is the signal line that determines a first strength trade
As you can see from the chart attached the red line has not crossed the 50 line as of 2nd cnadle so am i right in assuming that this is the line that Ash refers to when he says that it is a first strength trade becuase this red line has not crossed the 50 line

Also what does the blue line represent

Thanks
Paul
The signal bar would be yesterday's bar. Both the Stoch main line and Stoch signal line are above the 50 level on that bar. I opened the data window to confirm. That is why Ash identified it as a first strength trade. In the PDF Ash speaks of the Stochs in a plural tense so both lines would have to be above 50.

If you are talking about the blue line on the Stoch that is the Stoch main line with the red line being the Stoch signal line. If you are talking about the blue line on your main chart, I would guess it is a moving average. We don't have that line on the default template so I don't know. If you press Ctrl+I or right-mouse-click on your chart and select 'indicator list' from the drop down menu you will be able to determine what the chart blue line is.
Attached Image (click to enlarge)
Click to Enlarge Name: ash_eurgbp-0715.gif Size: 52 KB
  • #1,353
  • Jul 16, 2008 5:46am Jul 16, 2008 5:46am
Quoting Pipsnagger
To ASH's point just entering a trade because all the indicators line up is risky without other considerations. With that said if you are mechanically trading this way or on auto with an EA your win lose ratio will be marginal. Trader discretion considering candle patterns, support and resistance as well as fundamentals are all worth considering before taking a postion. Knowing when not to trade is a discipline that takes time and patience to master. If it were as easy as just jumping in and setting SL and TP this would be the holy grail and we would not need anything else. There is no Holy Grail but your own ability to master the space between your ears and develop your individual trading style that works for you. Thanks Ash again for Pipnailer and the Daily system which by using I have gotten alot farther down the road in becoming successfull at this.
You make some very valid comments and I hope you don't take this the wrong way. However, can you justify the wording I have emboldened above? Have you back tested the system to prove that just taking the signals is or is not profitable?

I know that Ash advocates checking S/R levels, candle sizes etc. which is sensible but I just wonder if this system is capable of making a profit with an EA that takes the signals only without any subjective judgements.

Just a thought from a total novice!
James The Beekeeper
  • #1,354
  • Jul 16, 2008 6:06am Jul 16, 2008 6:06am
Quoting nvwine
The signal bar would be yesterday's bar. Both the Stoch main line and Stoch signal line are above the 50 level on that bar. I opened the data window to confirm. That is why Ash identified it as a first strength trade. In the PDF Ash speaks of the Stochs in a plural tense so both lines would have to be above 50.

If you are talking about the blue line on the Stoch that is the Stoch main line with the red line being the Stoch signal line. If you are talking about the blue line on your main chart, I would guess it is a moving average. We don't have that line on the default template so I don't know. If you press Ctrl+I or right-mouse-click on your chart and select 'indicator list' from the drop down menu you will be able to determine what the chart blue line is.
Thanks
So what you basically did was before the chart moved to a new candle you checked the stochs reading on the data panel to see if they were above 50, which they were and i assume you did that at 9.55 to 9.59pm before the candle cahnged at 10 pm on the FXDD charts

Paul
  • #1,355
  • Edited 6:29am Jul 16, 2008 6:14am | Edited 6:29am
Quoting femzy112
yen are you in any trades currently??
Five . . .

New trades today:
eur/jpy short: 1 lot closed at +100; 2nd lot is at +81
eur/gbp short is at -22

Carryover trades:
usd/cad short: 1 lot closed at +83; 2nd lot is at +96
gbp/usd long: 1 lot closed at +86; 2nd lot is at +122
usd/chf short: 1 lot closed at +131; 2nd lot is at +67
Greetings from Guanajuato, Mexico
  • #1,356
  • Jul 16, 2008 6:30am Jul 16, 2008 6:30am
Quoting yen44x
Five . . .

New trades today:
eur/jpy short: 1 lot closed at +100; 2nd lot is at +64
eur/gbp short is at -22

Carryover trades:
usd/cad short: 1 lot closed at +83; 2nd lot is at +96
gbp/usd long: 1 lot closed at +86; 2nd lot is at +122
usd/chf short: 1 lot closed at +131; 2nd lot is at +90
Yen
Are you now using this system? I remember you were applying ozfx_D1_Ind to the 4hr charts on 6 pairs and doing very well. Have you switched or doing both?
Regards
  • #1,357
  • Jul 16, 2008 6:30am Jul 16, 2008 6:30am
Quoting pbalfe@tisca
Hi Anyone,

Something is really bugging me and i need an answer so i can go forward with more confidence when placing trades.
When Ash says that it is a first strength trade that is because the STOCHS have not crossed the 50 line
Now what i would like to know is which line is the signal line that determines a first strength trade
As you can see from the chart attached the red line has not crossed the 50 line as of 2nd cnadle so am i right in assuming that this is the line that Ash refers to when he says that it is a first strength trade becuase this red line has not crossed the 50 line

Also what does the blue line represent

Thanks
Paul
Could you share your tamplate, please? It looks amazing! Thanks.
Juan Carlos
  • #1,358
  • Jul 16, 2008 6:46am Jul 16, 2008 6:46am
Quoting howard
Yen
Are you now using this system? I remember you were applying ozfx_D1_Ind to the 4hr charts on 6 pairs and doing very well. Have you switched or doing both?
Greetings . . . this is my first full week of experimenting with AshFX.

OzFX did exceptionally well with the use of the EA or manually for about 2-3 months. After that, though, my results were spotty to say the least on both 4H and Daily trades. I was intrigued by the multiple confirmations used in the AshFx system to validate a trade, so it seemed worth a serious look. So far, so good.

OzFX was my first experience using an EA, and I would be hesitant to try it again with this system. Ash has addressed the need to be aware of S & R before entering a trade, and I agree completely. An EA only determines that the rules of the system have been met, and that may be enough at times, but I personally believe that adding trader discretion to a good system will enhance it even further.

That's a turnabout from what I often said on the OzFX thread, but I learned a valuable lesson over time that an EA may work well, even for extended periods, but it does not and should not replace the trader completely.

With a system based on Daily charts, such as AshFX, trading manually should not be a major issue anyway. That's just my view . . . for those who want to try an EA with this system, I hope it works well for you.
Greetings from Guanajuato, Mexico
  • #1,359
  • Jul 16, 2008 6:58am Jul 16, 2008 6:58am
Quoting pbalfe@tisca
Hi Anyone,

Something is really bugging me and i need an answer so i can go forward with more confidence when placing trades.
When Ash says that it is a first strength trade that is because the STOCHS have not crossed the 50 line
Now what i would like to know is which line is the signal line that determines a first strength trade
As you can see from the chart attached the red line has not crossed the 50 line as of 2nd cnadle so am i right in assuming that this is the line that Ash refers to when he says that it is a first strength trade becuase this red line has not crossed the 50 line

Also what does the blue line represent

Thanks
Paul
That's my question is on page 80 msg 1339.
I think I know the answer, for Sell entry we check the red line, Buy entry we check the blue line.

Everyone pls correct me here if I were wrong.
  • #1,360
  • Jul 16, 2008 7:02am Jul 16, 2008 7:02am
Quoting yen44x
Greetings . . . this is my first full week of experimenting with AshFX.

OzFX did exceptionally well with the use of the EA or manually for about 2-3 months. After that, though, my results were spotty to say the least on both 4H and Daily trades. I was intrigued by the multiple confirmations used in the AshFx system to validate a trade, so it seemed worth a serious look. So far, so good.

OzFX was my first experience using an EA, and I would be hesitant to try it again with this system. Ash has addressed the need to be aware of S & R before entering a trade, and I agree completely. An EA only determines that the rules of the system have been met, and that may be enough at times, but I personally believe that adding trader discretion to a good system will enhance it even further.

That's a turnabout from what I often said on the OzFX thread, but I learned a valuable lesson over time that an EA may work well, even for extended periods, but it does not and should not replace the trader completely.

With a system based on Daily charts, such as AshFX, trading manually should not be a major issue anyway. That's just my view . . . for those who want to try an EA with this system, I hope it works well for you.
Thanks a lot for the comments yen.
It is true that discretion plays a great role in trading, I have never used EAs and will never do, in fact my trading platform is not MT4 to use EAs; even in my previous post I was referring to the Indicator as opposed to the EA.

I am glad you are happy with your new experiment and wish you all the best, I too believe that this one has more merits.
Regards
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