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FX-50 Great Scalping System

  • #2,021
  • Apr 2, 2009 3:25am Apr 2, 2009 3:25am
Quoting Jazz1964
Hi Brian,
overheated at 50 or 200? Or....
I am not a coder, so I can't help you.

Lol no problem.. on the cci alert, I have been tweaking
and for myself have found 89 cci and 225 as the overheated
level working even better for me.. that allows it to work better
across more market conditions.

on the bollinger squeeze overheating the level would be 50
could test 45, but I would set the default at 50 and see how
that looks if and when such an indicator could be
posted here

Brian
  • #2,022
  • Apr 2, 2009 3:50am Apr 2, 2009 3:50am
Quoting John Edwards
Hi Pipster,
Next there is a Pivotline very close above or near to your entry point. Price has not yet come above the Pivotline and make a retracement back towards...... and after such a retracement stayed above that Pivotline.
Think of Pivotlines on TF1 charts not being a single line.... but as an area with 5 - 7 pips (depening on currencypair) on both sides where price still may fall back under the Pivotline or rise above it again.... if price dropped just under that Pivotline.
This post will be added to my pdf....

As you can see in my post 2013, the SDX-TzPivots2b plots the names of the pivot/fib lines at the right of the chart. That's why I use that indicator.
Trading S/R with PA only. No indicators anymore!
  • #2,023
  • Apr 2, 2009 3:57am Apr 2, 2009 3:57am
Quoting golden1
on the bollinger squeeze overheating the level would be 50
could test 45
Okay, the stoch! I was confused
Trading S/R with PA only. No indicators anymore!
  • #2,024
  • Apr 2, 2009 4:29am Apr 2, 2009 4:29am
Hi JE and Jazz,
Thanks a lot for your analysis of my trade. I appreciate all your comments and insights.

John, I don't fully understand your advice "Look at the Red Randy Candle still above the Kijun/Tenkan as your tradeguider.....". Can you explain further?
I've also noticed that the pivots and fiblines are different between your (Jazz &JE) v3.2 templates. That's why I didn't see the R1 pivot on John's template just above my entry point. It is present on Jazz's template though.
Do I need to adjust any settings on the pivots for the broker I use (fxdd)?
Thanks again,
Satini
  • #2,025
  • Apr 2, 2009 7:29am Apr 2, 2009 7:29am
You entered on the blue dot and red arrow. Next price came down..... however the third red candle didn't go under the Kijun/Tenkan.... Next price went up again.

Pivotlines are important, however they are far less strong and important than the TFZones, certainly when both are in the same area and support or resistance is being added by the TFZones.
TFZones show you more than anything else how support and resistance is being built up in a chart and it does that by taking care of the influences of 5 TF's in one chart, i.e. TickZone + TF1, TF5, TF15 and TF30.

Look for instance at the chart I did add to the previous answer regarding your trade setup. You will notice..... on that chart I have neglected some of those Pivots- and Fiblines, because they are completely overruled by the force of the TFZones. TFZones building support here in this way..... is the main issue that counts and overrules everything else in any chart in such moments.

If you study and learn this trade setup by heart..... you will next time immediatley recognize when it it arrives.

No need to change anything with any broker using this template or trade with any manual trade system, unless you have a broker that applies Floating Spread (which in such cases may vary from 2 to 25 pips) at irregular intervals. Brokers that use Floating pipspread are thieves. Avoid these type of brokers.... as if they are the Plague, cause they are.....

Broker issues normally only are of a different kind and f.i. require the right scripts for getting in and of trades.

Good Luck, John




Quoting Pipster007
Hi JE and Jazz,
Thanks a lot for your analysis of my trade. I appreciate all your comments and insights.

John, I don't fully understand your advice "Look at the Red Randy Candle still above the Kijun/Tenkan as your tradeguider.....". Can you explain further?
I've also noticed that the pivots and fiblines are different between your (Jazz &JE) v3.2 templates. That's why I didn't see the R1 pivot on John's template just above my entry point. It is present on Jazz's template though.
[font=&quot]Do I need to...
  • #2,026
  • Apr 2, 2009 2:22pm Apr 2, 2009 2:22pm
Quoting John Edwards
TFZones show you more than anything else how support and resistance is being built up in a chart ............

Look for instance at the chart I did add to the previous answer regarding your trade setup. You will notice..... on that chart I have neglected some of those Pivots- and Fiblines, because they are completely overruled by the force of the TFZones. TFZones building support here in this way..... is the main issue that counts and overrules everything else in any chart in such moments.
Heavy statement John!
May I illustrate it with a chart of my index today:
Attached Image (click to enlarge)
Click to Enlarge Name: ff.gif Size: 58 KB
Trading S/R with PA only. No indicators anymore!
  • #2,027
  • Apr 2, 2009 3:47pm Apr 2, 2009 3:47pm
Coming up from the negative side and cross 0 line, and hitting the 67 line, that's when you look for the best price trade. Is this right?

it seems that this works well today.
Attached Image (click to enlarge)
Click to Enlarge Name: chart1.gif Size: 21 KB
  • #2,028
  • Apr 2, 2009 4:30pm Apr 2, 2009 4:30pm
Quoting newline
Coming up from the negative side and cross 0 line, and hitting the 67 line, that's when you look for the best price trade. Is this right?

it seems that this works well today.
Hi Newline,
Your trade is not what we call a High Prob Trade. There is some evidence for a long trade, especially CCi crossing 67 level. But that's not enough.
The tickribbon was below the TF1 Ribbon. It just crossed the TF1 ribbon. You have to wait for a retracement like shown in post 2020.
At your entry a very small retracement occurred, price touched the tickribbon.
But: pipdistance to the higher Tf ribbon was too small and that makes the trade uncertain.

Nice to see you working with this setup. It's a really strong system, which helps you to find the best entries.
Maybe it helps if you read the pdf. And the latest posts of John from today (they're not in the pdf at the moment).
Attached Image (click to enlarge)
Click to Enlarge Name: ff.gif Size: 41 KB
Trading S/R with PA only. No indicators anymore!
  • #2,029
  • Apr 2, 2009 7:50pm Apr 2, 2009 7:50pm
Hi all, how's it all going sorry i just haven't had much time to work on my thread But I want to thank John Edwards, Kino and all who has helped improve this trading method. I also re did post 1 and directing them to post 1. And John if there is anything you want me to add to post 1 let me know and I will change it.
fxtrading24
It Is Not The Exit That Concerns Me, As It Is The Re-Entry
  • #2,030
  • Apr 3, 2009 1:28am Apr 3, 2009 1:28am
I am glad you asked this question, because what you tell us by this is basically the mistake made by most traders. They look for entries at the indicators underneath. That is never the way to make an entry decision.

What I want to point out to you is:

When it is not in the chart..... it certainly is not in the indicators underneath. By this I mean, that you have to read any chart as such that the chart itself conveys to you which is an entry and which is not an entry point..... which is an exit and which is not.

What really matters all the time in any chart is the game of support and resistance, attraction and rejection. That is the name of the game and it is in the chart alone. You have to develop an eye for that...... using MA's TFzones, Pivot- and Fiblines, etc.

Any indicator underneath.... never ever should be more than a confirmation indication. Sometimes you see charts with more than 7 indicators underneath.... all telling the same story. These only mess up reading a chart and never contribute reading a chart immediately when necessary!!!!

The rest already has been answered by Jazz,

Hope this helps too,

John


Quoting newline
Coming up from the negative side and cross 0 line, and hitting the 67 line, that's when you look for the best price trade. Is this right?

it seems that this works well today.
  • #2,031
  • Apr 3, 2009 2:57am Apr 3, 2009 2:57am
Hi FXTrading24,

As you may have noticed things on your thread have developed way beyond my expectations and many have contributed in the meantime, like Maxzeus. Kinonen (as always), Jazz1964, ClearTrade, Golden1, damonl to name but a few...

Your invitation to make an update to Post #1 is very welcome and somewhere next week I'll mail you by PM zip-file with templates and indics, OKay?

Thanks once more,

John

Quoting fxtrading24
Hi all, how's it all going sorry i just haven't had much time to work on my thread But I want to thank John Edwards, Kino and all who has helped improve this trading method. I also re did post 1 and directing them to post 1. And John if there is anything you want me to add to post 1 let me know and I will change it.
fxtrading24
  • #2,032
  • Apr 3, 2009 4:23am Apr 3, 2009 4:23am
Hello John

Great work you guys are doing - very inspirational. John I have tried Braintrend (various versions) & I am unable to attach any one of them to the chart. Any help on this will be appreciated.

Regards

B Dedyal
  • #2,033
  • Apr 3, 2009 6:38am Apr 3, 2009 6:38am
[quote=John Edwards;2646939]You entered on the blue dot and red arrow. Next price came down..... however the third red candle didn't go under the Kijun/Tenkan.... Next price went up again.

Thanks a lot John for all the invaluable advice and sharing. I have certainly learned a lot from this one trade and the other examples you have posted. Looking forward to more wisdom from you and all the rest.

Certainly, I can't wait to say goodbye to my boss....

Good pipping,
Satini
  • #2,034
  • Apr 3, 2009 9:03am Apr 3, 2009 9:03am
Please start reading on page 100...... there is your solution.

John

Quoting bdedyal
Hello John

Great work you guys are doing - very inspirational. John I have tried Braintrend (various versions) & I am unable to attach any one of them to the chart. Any help on this will be appreciated.

Regards

B Dedyal
  • #2,035
  • Apr 3, 2009 9:05am Apr 3, 2009 9:05am
You're welcome,

John

[quote=Pipster007;2649617]
Quoting John Edwards
You entered on the blue dot and red arrow. Next price came down..... however the third red candle didn't go under the Kijun/Tenkan.... Next price went up again.

Thanks a lot John for all the invaluable advice and sharing. I have certainly learned a lot from this one trade and the other examples you have posted. Looking forward to more wisdom from you and all the rest.

Certainly, I can't wait to say goodbye to my boss....

Good pipping,
Satini
  • #2,036
  • Apr 3, 2009 9:45am Apr 3, 2009 9:45am
Quoting John Edwards
Hi FXTrading24,

As you may have noticed things on your thread have developed way beyond my expectations and many have contributed in the meantime, like Maxzeus. Kinonen (as always), Jazz1964, ClearTrade, Golden1, damonl to name but a few...

Your invitation to make an update to Post #1 is very welcome and somewhere next week I'll mail you by PM zip-file with templates and indics, OKay?

Thanks once more,

John
Great John, glad to help all you out.
It Is Not The Exit That Concerns Me, As It Is The Re-Entry
  • #2,037
  • Apr 3, 2009 11:02am Apr 3, 2009 11:02am
Got it John - many thanks

Dedyal
  • #2,038
  • Apr 3, 2009 2:41pm Apr 3, 2009 2:41pm
Hi John, Jazz and everyone

I think it would be awesome, to keep it simple, if the new ribbon/price
indicator could tell these things
1. Immediately when price closes above all ribbons and the
tf1 ribbon above all other ribbons, and price closes above
the kijun. Pop up alert telling which pair immediately on the close.
2. Exact same for when totally reversed for a short
3. When tf1 just breaks above 5 and price closes above
kijun for a secondary long signal ie not necessarily above
ALL ribbons but in right order otherwise for like inbetween
ribbon trades. Same thing for a short tf1 below 5 and price
first below kijun.
4. a bar just to show us current state red for if below ALL ribbons
green if above all ribbons and yellow if otherwise. So the breakaway
trades, clear sky trades would be first alert above, 1 or 2
and red for a short and green for a long... but the in-between ribbon
trades, where otherwise the tf1, tf5 and price/kijun are all otherwise
setup correctly, then the bar will be yellow, to make sure we
are aware we are not totally above or below all other ribbons and
we can make sure we have enough pip space before entering
a trade toward another ribbon.

Sound good? Looking for confirmation of the indicator for Kino
when he can get back to checking this out and in general
what this indicator should be setup to do.

I think it would be a great asset. Thanks!

Brian
  • #2,039
  • Apr 3, 2009 3:12pm Apr 3, 2009 3:12pm
i don't know. i played very dumb today. trying to do new things when i didn't have it. as i was going back and study how i traded today, i realized i was going backward most of the trades.

well, two, three days of profit was evaporated today.

i need more focus.

all of you guys did well today?
hope so.
  • #2,040
  • Apr 5, 2009 4:48pm Apr 5, 2009 4:48pm
Quoting Artifiz
Learn V1 is much more reliable if you trade by the rules. V2 is a good system, but you need some trading experience to avoid losses.

In the old V1 thread RonaldRaygun made an ea that most used for signals. I still use it since I trade from work and I can't be watching my laptop at all times. I am not an ea programmer, but I changed its original settings (170-34) to 89/21 that most of us are using now. Download the ea and install in your MT Experts folder, then drag it to your chart and set it to: Signals Only: True - Alerts: True - Play Sounds:...
I have spent the best portion of this weekend reading the various threads that involve the original setup. I am new to MT4 but have managed to get my template setup with the minimum indis as suggested many times. What I believe would help me to learn is if I could also enable this ea to give alerts only so that it would reinforce what I am watching on the charts. My question is when I install the ea will it also require me to have the exact indicators and settings loaded in the chart that are referred to in the ea code? Sorry for such a elementary question but I am not familiar with MT4 or ea codes. Thank you for your assistance. ArtCole
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