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AshFX Daily

  • #1,461
  • Jul 17, 2008 4:18pm Jul 17, 2008 4:18pm
Quoting femzy112
I would advice not taken the GBPCHF trade because now the candle is now even turning Red.The trade is still looking so dodgy.I dont know what others take on this though???
Yes, You are right I will not trade GBPCHF
  • #1,462
  • Edited 7:09pm Jul 17, 2008 6:56pm | Edited 7:09pm
i don't see any new strong trades today based on ash daily
anyone concur?
  • #1,463
  • Jul 17, 2008 8:35pm Jul 17, 2008 8:35pm
Quoting dengzhi
i don't see any new strong trades today based on ash daily
anyone concur?
Yes. All the possibilities had "issues".

Jim
  • #1,464
  • Jul 17, 2008 9:09pm Jul 17, 2008 9:09pm
Quoting femzy112
Yeah i personally wld not take the trade because my ADX says the pair is ranging.Its in a danger zone.
.
Hey sorry to sound ignorant right now, but what is an ADX??? I checked my indicators on MT4 to see if I can learn how to use it and I couldnt find it.
  • #1,465
  • Jul 17, 2008 9:51pm Jul 17, 2008 9:51pm
Quoting TraderJSS
Hey sorry to sound ignorant right now, but what is an ADX??? I checked my indicators on MT4 to see if I can learn how to use it and I couldnt find it.
Average Directional Movement Index:

http://www.metaquotes.net/techanalys...ional_movement

It is located under Menu > Insert > Indicators > Trend.

Asking questions doesn't show any ignorance, much the contrary.
Smart people DO ask.
  • #1,466
  • Jul 17, 2008 9:53pm Jul 17, 2008 9:53pm
the adx is called average directional movement index in mt4. I dont know much about it but it measures the strength of a trend. The blue line or solid line lets you know how strong the trend is by how high it is, and the dotted lines let you know what direction the trend is going.
Nick
  • #1,467
  • Jul 17, 2008 10:15pm Jul 17, 2008 10:15pm
Quoting doblece
Average Directional Movement Index:

http://www.metaquotes.net/techanalys...ional_movement

It is located under Menu > Insert > Indicators > Trend.

Asking questions doesn't show any ignorance, much the contrary.
Smart people DO ask.
Cool, thanks for the link and the direction on how to locate it.
  • #1,468
  • Jul 17, 2008 10:16pm Jul 17, 2008 10:16pm
Quoting 555ngone
the adx is called average directional movement index in mt4. I dont know much about it but it measures the strength of a trend. The blue line or solid line lets you know how strong the trend is by how high it is, and the dotted lines let you know what direction the trend is going.
Makes sense, it is something I will look into and add to charts for sure. Thanks for the response
  • #1,469
  • Jul 18, 2008 3:55am Jul 18, 2008 3:55am
Any result updates on the SS trades taken for today???
  • #1,470
  • Jul 18, 2008 6:31am Jul 18, 2008 6:31am
Quoting doblece
Average Directional Movement Index:

http://www.metaquotes.net/techanalys...ional_movement

It is located under Menu > Insert > Indicators > Trend.

Asking questions doesn't show any ignorance, much the contrary.
Smart people DO ask.
Ok, I found it, is the default setting fine? (period=14)
  • #1,471
  • Jul 18, 2008 7:07am Jul 18, 2008 7:07am
I have read in another forum that in general the longer the timescale the lower the ADX period. As for any other indicator, I think this is a setting you might experiment with and analyze which period is better or more accurate.

The +DI indicates the up average.
The -DI indicates the down average.
The ADX, average directional movement index, shows whether a trend is in effect by smoothing the difference between the +DI and -DI. It shows the momentum over the last "x" bars of the timescale in view.

An ADX of 14 periods will be taking into account the last 14 bars, be it days, hours or minutes.
  • #1,472
  • Jul 18, 2008 7:34am Jul 18, 2008 7:34am
Quoting nvwine
If you look at Ash's screen shots in the first post and the PDF I think you will figure it out. When the blue Stoch main line crosses above the red Stoch signal line it would be a buy condition. When the blue line crosses below the red line it would create a sell condition.
Hi thanks for your reply
  • #1,473
  • Jul 18, 2008 7:48am Jul 18, 2008 7:48am
As at 13.45 hrs (GMT + 1)

GBPCHF - 8 pips both trades open

CADJPY +68 pips both trades open
  • #1,474
  • Jul 18, 2008 8:22am Jul 18, 2008 8:22am
Quoting Safive
As at 13.45 hrs (GMT + 1)

GBPCHF - 8 pips both trades open

CADJPY +68 pips both trades open
Hi,

I am not able to find CADJPY at my MT4, please advise?
  • #1,475
  • Jul 18, 2008 9:06am Jul 18, 2008 9:06am
Quoting trader8686
Thank you for sharing, and this is exactly what I need to learn: the exit strategy.

So, correct me if I were wrong, pls:
You first set up a 50 pipis trailing stop, as soon as you open the first new opened trade, and let it hit the tp. Then you set up a 25 pips trailing stop for the second half of the trade.
Here is how I trade AshFx :
I use the low/high of the signal candle as Stop Loss (SL)
Use the same number of pips as "virtual" Take Profit (TP)
If this SL/TP is more than 150 pips I use 150 pips
I put a Trailing Stop (TS) of 50 pips when i enter the trade.
(better safe than sorry, i hate to see my trade go +50 pips to finally hit my SL )
At half the TP i close half of the trade and let the other part run until it reach TS or...
When it reach TP i change my TS to 25 pips and let it run until it close by itself.
Also I do not care much about the stoch level as soon as it is in the same way as the trade
I use MT4 alerts to know when Half TP or TP is reached.

For the moment it has been working quite good:

Today I entered a buy for
GBPCHF GBPJPY AUDJPY CADJPY
One of these wasn't a valid AshFx signal (AUDJPY i think) but I realised that too late.

GBPCHF +2 (hit TS)
GBPJPY +28 (hit TS)
CADJPY closed half at +57

Still running are
CADJPY part 2 down to +45 for now
AUDJPY +26

Hope this helps...
  • #1,476
  • Jul 18, 2008 9:14am Jul 18, 2008 9:14am
I have a signal on EURJPY on FXDD chart. What do you think about?
  • #1,477
  • Jul 18, 2008 9:39am Jul 18, 2008 9:39am
Quoting atfx
I have a signal on EURJPY on FXDD chart. What do you think about?
no go, AO is still red?
  • #1,478
  • Jul 18, 2008 10:01am Jul 18, 2008 10:01am
Quoting airx3000
Here is how I trade AshFx :
I use the low/high of the signal candle as Stop Loss (SL)
Use the same number of pips as "virtual" Take Profit (TP)
If this SL/TP is more than 150 pips I use 150 pips
I put a Trailing Stop (TS) of 50 pips when i enter the trade.
(better safe than sorry, i hate to see my trade go +50 pips to finally hit my SL )
At half the TP i close half of the trade and let the other part run until it reach TS or...
When it reach TP i change my TS to 25 pips and let it run until it close by itself.
Also I do not care much about the stoch level as soon as it is in the same way as the trade
I use MT4 alerts to know when Half TP or TP is reached.

For the moment it has been working quite good:

Today I entered a buy for
GBPCHF GBPJPY AUDJPY CADJPY
One of these wasn't a valid AshFx signal (AUDJPY i think) but I realised that too late.

GBPCHF +2 (hit TS)
GBPJPY +28 (hit TS)
CADJPY closed half at +57

Still running are
CADJPY part 2 down to +45 for now
AUDJPY +26

Hope this helps...
Thanks so very very much. Indeed, exit is a very important lesson.
Do you set TS manually or automatically? And,
How do you set alert on MT4? As you said,I use MT4 alerts to know when Half TP or TP is reached.

Thanks, again.
  • #1,479
  • Jul 18, 2008 10:06am Jul 18, 2008 10:06am
Quoting fxykl
Hi,

I am not able to find CADJPY at my MT4, please advise?

Highlight market watch and view the symbols of currency pairs. Right click on any of the pairs and select SHOW ALL.

I hope you understand what I mean. Cheers.
  • #1,480
  • Jul 18, 2008 10:31am Jul 18, 2008 10:31am
Quoting dengzhi
no go, AO is still red?
Yes, you are right!!!
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