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Resurrected Powerful Dazfx AMG wave

  • #1
  • First Post: Edited 5:48am Dec 9, 2008 5:24am | Edited 5:48am
Hi

I would like to create this new thread to dedicate to the original Dazfx AMG method as posted by Daz http://www.forexfactory.com/showthread.php?t=75922. For those who have not read the DAz method, please review the materials that Daz laid out in the link above. It is very well written.

As you have known, the original Daz thread is dead, therefore, this thread is intended for the continuation of the authentic original Daz AMG wave method without the incorporation of any other techniques. This thread should serve as the working ground where traders like you and me who have read, understood and taken trades using the AMG wave. It is not intented for educational purposes, rather, a place where traders can help each other out to continuously posting photos of charts where potential Daz AMG wave trades can be taken. If you are a newbie and looking for information and asking questions about the rules of the method, please direct them to the original thread above. This thread is a library of charts and potential setups, keeping records of all Daz setups and trades taken. We want to keep it clear and easy to follow instead of several hundred pages long with questions when one similar thread with the same content is already there for you to do just that.

As you guys might have noticed that trying to spot potential Daz trades can be difficult sometime due to various reasons such as you are not at the computer and even when you are scanning through your graphs, there are still many chances of missing all the good ones. However, this AMG method is so powerful and most accurate as I have experienced it, and I am convinced that it should not be abandoned and if you know how to exploit it properly, it should contribute a great deal to your success in the forex business.

Guys, we need each other to look for potential trades and post them up here. Help us out and please do contribute your charts in this thread. I hope that this thread can become the community of traders where they constantly post photos of potential Daz setups. You alone might miss something ..but with a community of traders, we are very powerful. I hope that this thread can compensate for the things that you miss.

Daz traders, we need your support. Please help us to contribute to this thread and help to revive an awesome trading concept that Daz has shown us.
  • #2
  • Dec 9, 2008 12:46pm Dec 9, 2008 12:46pm
hey Adam ...

I just happened to finish reading the whole dazfx thread this weekend, so this thread is greatly timed!

i've been flirting between amg waves and the abcd strat by dra (another great strat) ... but i do love how precise dazfx's method is.

whilst i may not be able to contribute to this thread for a while yet I will track it very closely (it'll help me to learn) and I hope its a real success.

all the best
iffy
  • #3
  • Dec 10, 2008 9:19pm Dec 10, 2008 9:19pm
Long Potential

Chf/jpn On 1 Hour. 10pm Est On Dec 10th 2008.
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  • #4
  • Dec 11, 2008 1:33am Dec 11, 2008 1:33am
hello adam

Nice work, but really if u wonna follow the amg rule to the core, why long when the global trend is down?

Explaining this would bring more life to this thread.

thanks
  • #5
  • Dec 11, 2008 1:58am Dec 11, 2008 1:58am
Quoting Adam.the.
Long Potential

Chf/jpn On 1 Hour. 10pm Est On Dec 10th 2008.
yep just fallow price action nothing else....

recognize when you loose and cut it short and let the winners run
  • #6
  • Dec 11, 2008 2:19am Dec 11, 2008 2:19am
Quote
yep just fallow price action nothing else....

recognize when you loose and cut it short and let the winners run

Sherm,

read the first post of adam, he said strictly daz, so he needs to explain taking long following daz rules strictly as he said.

after his explanation, I can have one or few things to say, maybe, there is more to it than wot he said initially.

I dont care if this becomes a winner, all i care is 'following the rules strictly' so he needs to give more explanation to the long.

Nice work buddies
  • #7
  • Dec 11, 2008 3:47am Dec 11, 2008 3:47am
Target 1 FE 50% was hit.

This is one of the examples that trades should not be taken within 15-30 mins before news release. We had 3 heavy news on the CHF after target 1 was hit. At this point. If follow the rules, all lots must be closed with profit at target 1 which is 50% Fibo extension.

At this point, even after that long red bar of news came out, it still didn't hit stoploss yet in case that you didn't move the stoploss up to break even after target 1 hit.
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  • #8
  • Dec 11, 2008 4:01am Dec 11, 2008 4:01am
Quoting Adam.the.
Target 1 FE 50% was hit.

This is one of the examples that trades should not be taken within 15-30 mins before news release. We had 3 heavy news on the CHF after target 1 was hit. At this point. If follow the rules, all lots must be closed with profit at target 1 which is 50% Fibo extension.

At this point, even after that long red bar of news came out, it still didn't hit stoploss yet in case that you didn't move the stoploss up to break even after target 1 hit.
Hello Adam

Nice trade, but kindly explain why you'll go long when the major trend is down, this is in contrast to the original daz rule.

I'm willing to learn and also contribute, please explain
God's Love For You Is Sure Never You Doubt It
  • #9
  • Dec 11, 2008 4:05am Dec 11, 2008 4:05am
Quote
Target 1 FE 50% was hit.

This is one of the examples that trades should not be taken within 15-30 mins before news release. We had 3 heavy news on the CHF after target 1 was hit. At this point. If follow the rules, all lots must be closed with profit at target 1 which is 50% Fibo extension.

At this point, even after that long red bar of news came out, it still didn't hit stoploss yet in case that you didn't move the stoploss up to break even after target 1 hit.

here are the exit rules according to daz
EXIT STRATEGY

Carrying on from the previous example, I would exit my first lot at Target 1. If price does reach Target 2, I will take out the second lot, and move my stop loss to Break Even (Entry point). I will then take out my last lot when Target 3 is reached.

If you look at the charts provided, you can see that the targets can be calculated using the Fibonacci Expansion tool.

-When the confirmation candle is a Harami (Inside bar), use FE 50.0 as Target 1, FE 61.8 as Target 2 and FE 78.6 as Target 3.

-When the 'AB' wave consists of more than 10 candles, use FE 50.0 as Target 1, FE 61.8 as Target 2 and FE 78.6 as Target 3.

-When the confirmation candle is quite large, use FE 61.8 as Target 1, FE 78.6 as Target 2 and FE 100.0 as Target 3.

and this is only invalid set-up according to daz rule

INVALID SETUPS

A setup is considered invalid:

1) If there is a news release within 15-30mins.
2) If the confirmation candle moves so much that the stop loss is widened to a point where the Risk/Reward ratio is no longer 1:1.5.
3) If there is a major psychological support/resistance (ie, 2.0000 for Cable, 1.5000 for EURUSD, etc) before the first profit level (Target 1).
4) If the setup is against the major trend (atleast two TFs up from the one you are trading with).

If you follow the rule according to daz, u wouldnt have taken chfjpy. the daily trend is bearish, daz said, if u r taking signal on a time frame, go to 2 tf above ur signal chart for trend definition.

there is no place daz said u shd move stop to break even 30mins prior to news realese, he said dont take entry 15-30mins before news release.

Honestly, at this point, it takes patience to wait for daz setup, daz trades requires patience and obedience to rule strictly, the trade u took was a fine one base on Price Action but not on Daz rule.

I trade and teach daz method but i stopped teaching, will continue trading it coz it works well but requires patience .

well, good if u wonna keep this thread alive but plz post daz trades to the core, i know them when i see them.................

Keep it Daz!
  • #10
  • Dec 11, 2008 4:16am Dec 11, 2008 4:16am
Quoting Naijafx
hello adam

Nice work, but really if u wonna follow the amg rule to the core, why long when the global trend is down?

Explaining this would bring more life to this thread.

thanks
Naija,
DAz method can be used to trade in a very dynamic environment. You find the most recent AB impulse wave and following the most recent trend, which is upward in this case, to take trade. Since the beginning of this week, this pair is uptrend. Even though the general trend is down, but we do take trades in smaller trends inside the bigger trends. Clearly in the 1 hour chart starting from last friday, the trend in this timeframe is up.

Another reason I considered this a potential trade is because it broke out of the daily trend suggesting some moves up.
Even though that trade did not hit target 2, but you should take profit at 50% FE before news came out and invalidated the trade. (this is explained in Daz exit entry and invalid setups).

The picture below showed a breakout of the daily trend. Pay attention to the last candle as it went outside the channel.

(I might move this thread to the interactive trading forum. And also traders take trades solely based on these posts are at their own risks. )
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  • #11
  • Dec 11, 2008 4:36am Dec 11, 2008 4:36am
Quoting Adam.the.
Naija,
DAz method can be used to trade in a very dynamic environment. You find the most recent AB impulse wave and following the most recent trend, which is upward in this case, to take trade. Since the beginning of this week, this pair is uptrend. Even though the general trend is down, but we do take trades in smaller trends inside the bigger trends. Clearly in the 1 hour chart starting from last friday, the trend in this timeframe is up.

Another reason I considered this a potential trade is because it broke out of the daily trend suggesting...
Good explanation and clarification. I'll conclude (going by your explanation) that this is Daz system but with a little intuition and not purely mechanical as it is.

Why will you want to move the thread?
God's Love For You Is Sure Never You Doubt It
  • #12
  • Dec 11, 2008 5:02am Dec 11, 2008 5:02am
Highly unlikely for such a system to be mechanical since alot of discretion is required in identifying the main trend. Which in my opinion, is the main hurdle for the success of this method. Many new traders of this method failed not because of the inability to follow the original rules, but because they take a retracement move against the major trend.

I believe that is why mike and d liberators were so intrigued by adam's first trade since it was explicitly suggested by Daz to observe at least 1-2 timeframes above the current timeframe and trade with that trend. And for that particular trade, it was extremely difficult to comprehend why would that be a high probability trade when it was so obvious that price was trending down.

Anyway, good effort in keeping the daz system alive. =) Although I no longer trade this system, it is still one of the trading system threads I really like on this forum.
  • #13
  • Dec 11, 2008 5:19am Dec 11, 2008 5:19am
Quote
Naija,
DAz method can be used to trade in a very dynamic environment. You find the most recent AB impulse wave and following the most recent trend, which is upward in this case, to take trade. Since the beginning of this week, this pair is uptrend. Even though the general trend is down, but we do take trades in smaller trends inside the bigger trends. Clearly in the 1 hour chart starting from last friday, the trend in this timeframe is up.

Another reason I considered this a potential trade is because it broke out of the daily trend suggesting...

Adam, i trade just the way u explained above............ but sincerely speaking, its not DAZ and that's exactly my arguement!

I was previledge to trade with daz for a while and i have indepth understanding of the method, recently, i made a modification which i called trading in the zone, simply put fusion of abcd into daz method.

taking those trade of yours could be so much confusing to newbies and those that have read the rules in page 1 of daz.

I dont trade daz strictly, but i trade daz along the trend, i allow the trendline to give me the direction and that's why i dont post much into daz thread but once i see daz trade, i will post there.

Daz thread is not dead, but its in recession as there are no core daz trades now.

your analysis could be too cumbersome for rookie but very sound non-daz style.

Let's keep it daz as u have suggested in ur first post so as not to bring confusion in the mind of newbies that are willing to learn simplicity.

when newbie have fully grasp daz, as in core daz, they could migrate to ABCD wave analysis which i have mastered to well God's willing.

Keep it simple
keep it daz
  • #14
  • Dec 11, 2008 6:31am Dec 11, 2008 6:31am
Quoting Adam.the.
Naija,
DAz method can be used to trade in a very dynamic environment. You find the most recent AB impulse wave and following the most recent trend, which is upward in this case, to take trade. Since the beginning of this week, this pair is uptrend. Even though the general trend is down, but we do take trades in smaller trends inside the bigger trends. Clearly in the 1 hour chart starting from last friday, the trend in this timeframe is up.

Another reason I considered this a potential trade is because it broke out of the daily trend suggesting...
While i agree with you on some points, i'll like to point out imo that simply because a candle breaks out of daily down trend does not indicate an uptrend. In a case like that i stay offline and wait for PA to form new HH or LL to show a clear retracement. Lots of candle break out of trend channel and the very next candle falls back into it.

More so that candle was still in the process of forming, it was not a complete candle yet was it?

Any way, the trade was a good but risky one and like Mike pointed out, its no strictly Daz trade as your thread suggested but rather a fusion of Daz and Dra style which makes it very potent.

If you'll like to create a forum where we can discuss trades based on this system, i'll be very much pleased to join am sure i can learn a lot from you.

But dear friend this aint no Daz trade. and am looking forward to a resurrection of Daz thread.
God's Love For You Is Sure Never You Doubt It
  • #15
  • Dec 11, 2008 6:33am Dec 11, 2008 6:33am
Quote
Yes, Daz core is the intention for this thread. We do not want to see the mixture of techniques.

Again, my apology for the lengthly comments.

http://www.forexfactory.com/images/buttons/quote.gif


well dont wonna take on this arguement,

i will advice keep it daz.......... if its not daz dont post here
chfjpy is globally bearish hence short trades


again,
Keep it daz.............. i will emphasize that
  • #16
  • Dec 11, 2008 6:45am Dec 11, 2008 6:45am
Quote
But dear friend this aint no Daz trade. and am looking forward to a resurrection of Daz thread.

You got it right!

if u wonna post daz trades, plz revive the old one!
Honestly, ur trade on chfjpy contradict ur claim in ur fist page

CHFJPY LONG IS NEVER DAZ TRADE

AM A DAZ TRADER AND I DONT WANT IT MUTILATED!
  • #17
  • Dec 11, 2008 6:51am Dec 11, 2008 6:51am
reviving daz thread is easy,

once u spot one, just post!

i know the strength and limitation of daz system.

refer to soyabean post on this thread for more info. he says it all
  • #18
  • Dec 11, 2008 7:18am Dec 11, 2008 7:18am
Adam, please dont take this wrongly, i know your intentions are good and am willing to be part of this. This should only be a pointer that there are ardent followers of Daz methods out there and the thread is not dead yet but in recession and due to the fact that we've not been abale to secure a very good room for discussing trades. among other reasons.

wrt this, i'll like to suggest and end to this argument and postulate a new title for the thread so as to stem off confusions like this......

Hmmmm.... still thinking of an appropriate name....but if you've got any please suggest.

I enjoy where potential set ups are discussed and not where people post only sucessful trades they've taken and leaving out the bad ones...... i believe this is Adam's intention, so am interested....
God's Love For You Is Sure Never You Doubt It
  • #19
  • Dec 11, 2008 6:39pm Dec 11, 2008 6:39pm
Wow, quite an interesting subject. Lots of arguments so far.

Chf/jy is downtrend and Daz explicitly cited: "Only look for setups that are in the direction of the bigger trend (ie: If you are looking at setups on the hourly, then only look for signals that are with the daily trend.).
Also, the trade is invalid if it is against the major trend (at least 2 TFs up from the one you are trading with).

If you zoom out to 4h and daily, it is still downtrend. I do agree that the there was a breakout of the daily downtrend on your chart, however, we cannot say that the trend has changed direction. We must wait further. I must give credit for you to take that trade with Daz characteristics including Stoch, fibo retracements, and riding the wave. But like you said, setups could be wrong and need comments and having one setup in the opposing trend doesn't mean you change the rules of this method. However, I do agree that AMG waves do exist in countertrend, it is just too risky to take them.

No offense,
Keep up, and I'd like to see more setups
  • #20
  • Dec 11, 2008 8:30pm Dec 11, 2008 8:30pm
why people keep fighting..?
why dont we just share this great system.
and share some thought.

dont you?
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