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The Force 5min system

  • #2,001
  • Jan 16, 2009 2:44pm Jan 16, 2009 2:44pm
The London session opens at 3:00 am, that is correct. Not sure what it does on the USD/JPY, we only trade it on euro/usd, and it is the only one we talk about the on the forum and chat.

Good luck

Quoting Paris Hilton
Interesting. Does that work only with USD/JPY? And what do think is the beginning of EURO session? Is that 3:00am EST? Thanks, Paris
A woman drove me to drink, and I forgot to thank her
  • #2,002
  • Jan 16, 2009 2:46pm Jan 16, 2009 2:46pm
any EA for this system?
Add value everyday in Pips
  • #2,003
  • Edited 4:51pm Jan 16, 2009 4:39pm | Edited 4:51pm
Quoting Pip-Stud
any EA for this system?
We get this question from time to time. There is no auto-trading EA for The Force because a large part of the system involves discretionary decisions. Another important reason is The Force is a training system to teach those who follow it to understand price action to an intuitive level. The indicators are only 'training wheels' that will come off after weeks or months of following the force training.

I worked with Vantage to develop an indicator to give audio and visual alert when Basic and Advanced signals are lined up. The purpose of this is to wake up a trader who has not been paying attention.

Please refer to post 1897 for the current version of AudioAlerts.mq4

http://www.forexfactory.com/showpost...postcount=1897

http://blog.codeunit.co.za/images/Bi...ing_Wheels.jpg
training wheels will come off...
  • #2,004
  • Jan 16, 2009 5:02pm Jan 16, 2009 5:02pm
Quoting simpleguy
If anyone can give me any suggestions on how to make it better
Simpleguy, Awesome trading log, keeping it simple and including meaningful comments too for each decision. I like the column for PA, so important. A log and review of each trade is the very best way to accelerate the learning process that I know of. Well done!

In Excel you select cell A2, then use menu Window.Freeze Panes. This will keep the first row headings visible for you as you scroll down further.
  • #2,005
  • Edited 7:08pm Jan 16, 2009 6:42pm | Edited 7:08pm
Quoting robdee
A typical wolfe wave reaction from the bottom at 3025 (point 5) up to the target line.

If euro bears are still keen they should resume targeting the lower line formed by 1 3 5...

Attachment
Hi
I am also a big fan of Wolffe waves. Do you see the extension lines as being key points to trade off? 15m eurusd?

I followed a WW pattern on 15 min (different to your chart) and took entry off 1min eurusd. I look at theForce setup on 5 min (attached), looks cool!
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_03 Jan. 17 11.03.gif Size: 11 KB
  • #2,006
  • Jan 16, 2009 9:42pm Jan 16, 2009 9:42pm
Quoting emacro
Hi I am also a big fan of Wolffe waves. Do you see the extension lines as being key points to trade off? 15m eurusd?
I draw my trendlines on the 15min timeframe. When I do this I see large multi-day chart patterns such as Head & Shoulders, Wolfe Waves, Gartleys, and Channels. I only post them here as an orientation to what is happening on a multi-day level. I certainly don't use them as a trading trigger.

A multi-day view helps me understand why some trendlines are breaking and others are holding. It is all about finding and confirming support/resistance levels before taking a trade triggered by The Force signals on the 5min chart. I never use 1min charts.

Hope that answers your questions.
  • #2,007
  • Jan 16, 2009 10:41pm Jan 16, 2009 10:41pm
Getting stopped out at BE several times this week has prompted me to search for more defensive or more realistic profit targets.

My usual money management is to close half at +20 and let the second half run on for more profit. I use a standard 20 pip stop on all trades.

The problem is my second profit target has been too vague and too hard to reach before getting stopped out. So I ran through four different 'what if scenarios' to see what would have worked better. The results suprised me...

2 TPs at +10 +20 (50:50) profit $1,590.00
2 TPs at +20 +40 (50:50) profit $2,433.28
3 TPs at +20 +40 +60 (50:25:25) profit $2,528.28
1 TP at +40 (100%) profit $2,628.80

+40 pips was definitely the sweet spot and moving my stop to BE after reaching +20 was also a good idea. So I have selected the second scenario as my new defensive play.

Attached Image (click to enlarge)
Click to Enlarge Name: eurusd_16jan2009_defense.gif Size: 15 KB
  • #2,008
  • Jan 16, 2009 11:16pm Jan 16, 2009 11:16pm
PLs can you direct me to the latest version of the set of indicators to this system. thank you for the audio alert.

Quoting robdee
Thanks for all the feedback on the AudioAlerts indicator.

With 100+ downloads of the last update I see there is a reasonable level of interest in this project so I will continue.

I have added one new feature in this update. That is "Line Alerts" which is controled by a user setting. All the signal logic remains unchanged.

LineAlerts = True
One alert per candle when price touches a line (that is any trend line or horizontal line on the price chart)

Attachment

I have also decided for myself that printing...
Add value everyday in Pips
  • #2,009
  • Jan 17, 2009 12:30am Jan 17, 2009 12:30am
Quoting robdee
Getting stopped out at BE several times this week has prompted me to search for more defensive or more realistic profit targets.

My usual money management is to close half at +20 and let the second half run on for more profit. I use a standard 20 pip stop on all trades.

The problem is my second profit target has been too vague and too hard to reach before getting stopped out. So I ran through four different 'what if scenarios' to see what would have worked better. The results suprised me...

[color=navy]2 TPs at +10 +20 (50:50)...
hi robdee, i was thinking about the same question also...By normal practice is I will move to BE + 1 mabye after earn +8pips.... but often got SP and end BE +1 ....SL is +5pips after major resistance, TP 20pip ...
thx for the simulation....will rethink my MM ....
  • #2,010
  • Jan 17, 2009 1:18am Jan 17, 2009 1:18am
Quoting robdee

2 TPs at +10 +20 (50:50) profit $1,590.00
2 TPs at +20 +40 (50:50) profit $2,433.28
3 TPs at +20 +40 +60 (50:25:25) profit $2,528.28
1 TP at +40 (100%) profit $2,628.80
+40 pips was definitely the sweet spot and moving my stop to BE after reaching +20 was also a good idea. So I have selected the second scenario as my new defensive play.
Thanks for your valuable information. May I ask you on what data base you did your calculation?
When I began with this strategy I used the TP at +10 (50%) +20 (25%) +50 (25%).
But I didn't like the RR - ratio. You could kill your win of 2 trades by ONE loosing trade, if the +50 pips gate is not hit. So it is way better to wait for the +20 pips gate to hit for first exit, I assumed. And I was right. My RR got better and so also my profit per day.
So my TP strategy is TP +20 (50%) +40 (25%) and the rest I let run.
My SL is moved to B/E after +10, as I hate a winning trade turning into a loosing one.

cheers
robBroker
  • #2,011
  • Jan 17, 2009 1:22am Jan 17, 2009 1:22am
Quoting robdee
I draw my trendlines on the 15min timeframe. When I do this I see large multi-day chart patterns such as Head & Shoulders, Wolfe Waves, Gartleys, and Channels. I only post them here as an orientation to what is happening on a multi-day level. I certainly don't use them as a trading trigger.

A multi-day view helps me understand why some trendlines are breaking and others are holding. It is all about finding and confirming support/resistance levels before taking a trade triggered by The Force signals on the 5min chart. I never use...
Thank you Rob
So you only trade US afternoon sessions?

BTW I am surprised. I see only Skywalker (apart fromFJ) in the forum. No Chewbacca, DarthVader, HanSolo, Leia, Jabba etc....
  • #2,012
  • Jan 17, 2009 1:44am Jan 17, 2009 1:44am
Quoting robdee
A typical wolfe wave reaction from the bottom at 3025 (point 5) up to the target line.

If euro bears are still keen they should resume targeting the lower line formed by 1 3 5...

http://www.forexfactory.com/attachme...1&d=1232128943
U can say that..because it is already happened...

Sonic
  • #2,013
  • Jan 17, 2009 1:59am Jan 17, 2009 1:59am
Quoting sonicdeejay
U can say that..because it is already happened...

Sonic
What rob is saying is that the ww is predicting a move back down to point 5 and below, if that is what I understand by Wolffe waves.
  • #2,014
  • Jan 17, 2009 4:56am Jan 17, 2009 4:56am
Quoting emacro
What rob is saying is that the ww is predicting a move back down to point 5 and below, if that is what I understand by Wolffe waves.
The ww predicted a move to the green area on robdee's chart.
  • #2,015
  • Jan 17, 2009 7:15am Jan 17, 2009 7:15am
Quoting Sensimenia
The ww predicted a move to the green area on robdee's chart.
Attached a chart from Linda Bradford Raschke's (a Market Wizard-Schwager's book) p99, where the chapeer talks about Wolffe waves.... page 99. I think is what Robdee is trying to post... Gives perspective on projected support/resistance.
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_01 Jan. 17 23.07.gif Size: 48 KB
  • #2,016
  • Jan 17, 2009 7:16am Jan 17, 2009 7:16am
Quoting emacro
What rob is saying is that the ww is predicting a move back down to point 5 and below, if that is what I understand by Wolffe waves.
I see...buddy...
  • #2,017
  • Jan 17, 2009 10:24am Jan 17, 2009 10:24am
Quoting sonicdeejay
I see...buddy...
First bot attack on chat, now thrash post spammmers here.
  • #2,018
  • Jan 17, 2009 10:58am Jan 17, 2009 10:58am
Finally I got the system set right, and I understand it now, so easy, Thank you, FJ. I will demo trade the system for 2 or 3 more days to make sure I have a good command of it, then I will jump into my live account, can't wait to do that.
Add value everyday in Pips
  • #2,019
  • Jan 17, 2009 6:14pm Jan 17, 2009 6:14pm
Quoting sonicdeejay
I see...buddy...
From the textbook....

btw your sonic r thread is great. We better not hijack FJ's thread here, which has some great stuff too!
  • #2,020
  • Jan 18, 2009 1:08am Jan 18, 2009 1:08am
Quoting robBroker
Thanks for your valuable information. May I ask you on what data base you did your calculation?
Rob, I based the four MM scenarios on my last ten basic force trades.

TIP: To view your prior trades on the chart, drag and drop trades from account history on to your chart. Might get messy so suggest using a new clean chart for this. Shift+drag'n'drop will display all the trades visible in account history.

Anyone who wants to examine my MM scenario in more detail I have attached my template file below that shows each trade. Save the template file to MT4\templates, open a new EURUSD 5min chart and apply the template. You'll be able to see exactly how this MM scenario played out.

The scenario is: 2 TPs at +20 +40 (50:50) moving stop to BE at +20
Attached File(s)
File Type: tpl robdee_scenario2.tpl   25 KB | 603 downloads
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