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  • #921
  • Aug 15, 2008 10:16am Aug 15, 2008 10:16am
Hi lNaijafx, Noel, Doubletop, and all who post here, i have been following this thread from the start, and have to say it is great, i missed the advanced concepts of daz in the trading room, if anyone could state the rules with a few charts to explain it ,it would be great fior all, i trade similar to this method, but i use a formula to get me into a trade.I do not enter till the entry target is met, i have been looking to use the 5 Ma but do not quite get how to use it for entry as there seems to be some variation on its use . The 5MA get one in earlier than my entry signal and the difference can be a lot of pips. also what is the RR for entry At 5 MA to target 1 FE , 2 FE and 3 FE, I will post my charts as i see moves setting up and would encourage comments to help all here,and keep this thread alive,have to go for now , Bye All Pat
  • #922
  • Aug 15, 2008 10:29am Aug 15, 2008 10:29am
Possible set up on one hour CHF/JPY A 100.93 B 99.99 C 100.86 for sell, any comments, Pat
  • #923
  • Aug 15, 2008 11:10am Aug 15, 2008 11:10am
Hi all,

Closed this one earlier from today, held on to it for quite a while.

Nice result though with 76 pips in the bag.

Have a good week end all,

Cheers DT.
Attached Image (click to enlarge)
Click to Enlarge Name: usd_jpy_2.gif Size: 24 KB
  • #924
  • Aug 15, 2008 11:15am Aug 15, 2008 11:15am
Hi rtcw,

I believe that this is what you are looking for -

Dazfx – Advanced

Advanced rule!

Look for impulsive wave(swing hi-lo)

wait for retracement to either 38.2 and 50.0

reversal candle on either of the fib ratio

spot divergence on stoch

pull your trigger as usual

"it rocks at every time frame but you must get the trend right".
  • #925
  • Aug 15, 2008 12:35pm Aug 15, 2008 12:35pm
Quote
Hi lNaijafx, Noel, Doubletop, and all who post here, i have been following this thread from the start, and have to say it is great, i missed the advanced concepts of daz in the trading room, if anyone could state the rules with a few charts to explain it ,it would be great fior all, i trade similar to this method, but i use a formula to get me into a trade.I do not enter till the entry target is met, i have been looking to use the 5 Ma but do not quite get how to use it for entry as there seems to be some variation on its use . The 5MA get one in earlier than my entry signal and the difference can be a lot of pips. also what is the RR for entry At 5 MA to target 1 FE , 2 FE and 3 FE, I will post my charts as i see moves setting up and would encourage comments to help all here,and keep this thread alive,have to go for now , Bye All Pat

Come to the tradingroom. look for powerful fib method by daz. we are alwayz there
  • #926
  • Aug 15, 2008 1:06pm Aug 15, 2008 1:06pm
Quoting rtcw37
Possible set up on one hour CHF/JPY A 100.93 B 99.99 C 100.86 for sell, any comments, Pat
I did draw attention to this setup in the room but was told it was invalid as more than 10 candles were invoved in the setup but there does seem to be some confusion re the 10 candle rule or at least i'm confused,however i did take the trade and closed out for 25 pip profit.

Regards Edward
  • #927
  • Aug 15, 2008 1:18pm Aug 15, 2008 1:18pm
Quote
I did draw attention to this setup in the room but was told it was invalid as more than 10 candles were invoved in the setup but there does seem to be some confusion re the 10 candle rule or at least i'm confused,however i did take the trade and closed out for 25 pip profit.

Regards Edward

edward, nobody is confused, setup with 10-12 candle max gives the best setup and that's wot is we are alwayz looking for.

the only trade we lost in two weeks is as a result of 25candles setup, the trade gave 24pips before it hit stop loss.

if u have such setup, i will just advice u look for good entry on 4hr time frame.

and wot would have been the outcome of that chfjpy if u had left it. would it have met tgt1,2 and 3?

we tag a trade successful if tgt 1 and 2 are met.

thanks
mike
  • #928
  • Aug 15, 2008 1:32pm Aug 15, 2008 1:32pm
Quote
I did draw attention to this setup in the room but was told it was invalid as more than 10 candles were invoved in the setup but there does seem to be some confusion re the 10 candle rule or at least i'm confused,however i did take the trade and closed out for 25 pip profit.

Regards Edward

if u had left the CHFJPY, it would have been a loser!
check it out again

we all want to learn and get better
  • #929
  • Aug 15, 2008 1:53pm Aug 15, 2008 1:53pm
Quote
I did draw attention to this setup in the room but was told it was invalid as more than 10 candles were invoved in the setup but there does seem to be some confusion re the 10 candle rule or at least i'm confused,however i did take the trade and closed out for 25 pip profit.

Regards Edward

if u had left the CHFJPY, it would have been a loser!
check it out again

we all want to learn and get better
  • #930
  • Aug 15, 2008 3:54pm Aug 15, 2008 3:54pm
Hi guys:

Nice thread. One question for Mike or anyone (including Daz). The original post says
Quote
1) The new candle following the Confirmation Candle is on or near the 5 SMA.

How have you been interpreting this line?

The new candle just has to be "near?" (If so, how near is near?); or

Price of the new candle has to actually cross above/below the 5 SMA before entry?

Thanks in advance.
  • #931
  • Aug 15, 2008 4:59pm Aug 15, 2008 4:59pm
Hi Watsone, Naijafx and atticttrader thanks for replys and invite to trading room, will pop in Monday PG, Going back to the doubletop trade i see the A/B move has around 27 bars and the B/C leg 21 bars on the Hour 1 timeframe, does this invalidate the trade acording to the rules, can someone explain as i am confused? I gathered that once a impulse wave was shown and was not eratic looking one could take the trade, as in some of Dazfx early posts show charts with inpulse waves with over 10 bars on the hour timeframe, i am also confused like edware could you shed some light Naijafx or doubletop or anyone. Ragards to all Pat
  • #932
  • Aug 15, 2008 5:05pm Aug 15, 2008 5:05pm
Quote
Hi guys:

Nice thread. One question for Mike or anyone (including Daz). The original post says Quote:
1) The new candle following the Confirmation Candle is on or near the 5 SMA.
How have you been interpreting this line?

The new candle just has to be "near?" (If so, how near is near?); or

Price of the new candle has to actually cross above/below the 5 SMA before entry?

Thanks in advance.

at the point of entering the sma5 is either acting as resistance or support. the moving average have a way of pulling the price to it(testing) we want the price to break that barrier before diving in.

hope its clear

Mike
  • #933
  • Aug 15, 2008 5:15pm Aug 15, 2008 5:15pm
Quote
Hi Watsone, Naijafx and atticttrader thanks for replys and invite to trading room, will pop in Monday PG, Going back to the doubletop trade i see the A/B move has around 27 bars and the B/C leg 21 bars on the Hour 1 timeframe, does this invalidate the trade acording to the rules, can someone explain as i am confused? I gathered that once a impulse wave was shown and was not eratic looking one could take the trade, as in some of Dazfx early posts show charts with inpulse waves with over 10 bars on the hour timeframe, i am also confused like edware could you shed some light Naijafx or doubletop or anyone. Ragards to all Pat

Let me say this, setup with 20 candles or more works but setup with 4-10 candles work best.

if u read very well, this method aims at picking the recent impulse wave, that is recent swing hi/lo and not the whole large impulse wave. if u read very well, the large impulve waves retraces to 38.2 to 50.0 most times which indicate strong wave/trend but this system takes advantage of the recent wave pull back to our defined fib ratio for possible trade.

so my advice is this, if u get a large wave and feel like trading, go to 4hrs and see if the wave its a reflection of swing hi-lo

anyway, let's meet in the tradingroom for more

Mike
  • #934
  • Aug 15, 2008 6:04pm Aug 15, 2008 6:04pm
This is the only trade we lost in about two weeks. if you look at 1hr, you will see that it gave a valid setup except that the impulsive wave is well over 10 candles.

There was a good pull back in 1hr right but we lost it. why? there should be a reason!

Looking at 4hr, its obvious why the trade shouldn't be considered at all.

so my advice, when u see many candle giving good signal/setup on 1hr, just briefly watch 4hr if its forming as well.

reason being that large impulsive wave on 1hr should be a reflection of waves forming in 4hr, so u quickly confirm the validity of the setup

look at
Hi

Do you think we should SELL this one ?
Attached Thumbnails http://www.forexfactory.com/attachme...1&d=1218010228
Attached Image (click to enlarge)
Click to Enlarge Name: ej-4hr.gif Size: 30 KB
  • #935
  • Aug 16, 2008 3:54am Aug 16, 2008 3:54am
wishing us all a wonderful weekend
Mike
  • #936
  • Aug 16, 2008 4:31am Aug 16, 2008 4:31am
Quoting rtcw37
Hi Watsone, Naijafx and atticttrader thanks for replys and invite to trading room, will pop in Monday PG, Going back to the doubletop trade i see the A/B move has around 27 bars and the B/C leg 21 bars on the Hour 1 timeframe, does this invalidate the trade acording to the rules, can someone explain as i am confused? I gathered that once a impulse wave was shown and was not eratic looking one could take the trade, as in some of Dazfx early posts show charts with inpulse waves with over 10 bars on the hour timeframe, i am also confused like edware could you shed some light Naijafx or doubletop or anyone. Ragards to all Pat

Hi rtcw37,

Sorry for the late reply, just read your post.

Please see the attached charts below for the reasoning I took that particular trade.

You will see the initial entry on the one hourly has a potential reversal set up of hitting the 68.1% retracement level.

This offered an initial risk on the open of the next candle of only 9 pip risk for a potential gain of (T1) 93 pip gain, so good risk reward ratio

Final entry confirmation was the confirmed cross of the stochastics on the 4 hourly time frame (compare the charts attached)

Hope this helps?

Have agood week end,

DT.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: usdcad_1hr.gif Size: 24 KB
Click to Enlarge Name: usdcad_4hr.gif Size: 18 KB
  • #937
  • Aug 16, 2008 4:44am Aug 16, 2008 4:44am
Quote
Hi rtcw37,

Sorry for the late reply, just read your post.

Please see the attached charts below for the reasoning I took that particular trade.

You will see the initial entry on the one hourly has a potential reversal set up of hitting the 68.1% retracement level.

This offered an initial risk on the open of the next candle of only 9 pip risk for a potential gain of (T1) 93 pip gain, so good risk reward ratio

Final entry confirmation was the confirmed cross of the stochastics on the 4 hourly time frame (compare the charts attached)

Hope this helps?

Have agood week end,

DT.

Thanks DT, this has been on mind to post here but i have been kinda busy with my simulator so been a very difficult one for me but thanks for posting it.

For my previous message, this would be confirmation of wot i have been saying, if u want to pick setup with candle, plz check the 4hr for confirmation.

candles that are more than 12 is an indication of happening on 4hr time frame, so u got to go there to look at 4hr before u pull the trigger.

Honestly am looking forward too next week for bountiful pips.

And i want us to use weekend as an opportunity to retrade the previous week to see where we wave made mistake and how to avoid it next time.

here is the link to a post that have all u need for the simulator
http://www.forexfactory.com/showpost...&postcount=701

Thanks
  • #938
  • Aug 16, 2008 5:17am Aug 16, 2008 5:17am
Hi Naijafx, thanks for explanation a chart equals a thousand words, good example, This is of great benifit to me to see as i trade slightly different to this amd an always trying to improve.Thanks again and have a good weekend,
Pat
  • #939
  • Aug 16, 2008 5:26am Aug 16, 2008 5:26am
Quote
Hi Naijafx, thanks for explanation a chart equals a thousand words, good example, This is of great benifit to me to see as i trade slightly different to this amd an always trying to improve.Thanks again and have a good weekend,
Pat

God have used FF to sharpen my forex skill, all the things that i have learnt are given to me freely so i have to teach freely as well, and ensure that am well understood and finally impart the knowledge.

broda, am committed to the course

Mike
  • #940
  • Aug 16, 2008 5:33am Aug 16, 2008 5:33am
Hi doubletop, thanks for posting charts great trade, and excelent RR theses chart and Naijafxs charts have made things stand out and are of great help to me and others like edward,Thanks again hope to talt soon and have a good weekend also.
pat
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