Heiken_Ashi_Smoothed **Start Here**

Well my first live trade was a 20 pip winner on EUR this morning. Didn't get a signal to get out but closed at that point anyway because the market is so SLOW today and acting weird so I didn't want to push it. I'm still in cautious mode until I feel more comfortable with it - but so far so good.

have looked over everything posted thus far and have come up with a strategy that I feel will take all the concepts and roll it into one startegy with no nonsense objective reasoning and will be purely mechanical. In fact the rules will be structured and well defined so we can put together an EA that if shows a profit (most likley) will not in theory have mixed results due to market conditions. The logic is sound and should work under and market volatility.

I am making a bold statement here and I am holding back the temptation to just hit and run with this since so many of you feel if a great system is made public it will no longer work. Maybe brokers will shut me down. I am willing to share this with you only if I get help programming the modifications.

This is what I need:

1. The 4TF HAS BAR needs to show 1M with every TF in between to 1month
1a. No changes to the way the 4TF HAS BAR & 4TF HAS BAR2 work together.
2. The above MTF indicators lowest TF row corresponds with the platforms TF setting. Example: platform set to 5M = MTF displays 5M thru 1month


Once the above is finished I will need the following alert for entries:

1. When "X" number of TF's (user defined) are red or blue (user defined) on CLOSE of last bar... and

2. When last bar on MTF indicator (shortest TF) changes color to red or blue (user defined) upon CLOSE = entry alert. Blue = entry long and Red = entry short
2a.

Once the above is finished for the entries I will need the following for exits:

3. When multiple TF's on last bar = same color = exit alert
3a. These multiple TF's need to be user adjustable to assign which TF's are to be used in this alert. Example: platform set to 5M = MTF displays 5M thru 1month. When last "X" number of TF's (user defined) shows red or blue (user defined) upon ClOSE = exit alert. Blue = exit longs and Red = exit shorts

Maybe some of you are seeing where I am going with this? This no doubt will be the "nuts" as we call it in poker!
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On post 180

Okay looking at the chart it was a nice short, but why did you wait for several red dots to appear, why not enter sooner when the signal revealed itself?

Just wondering what points everyone is considering when entering a positiion.

Thanks

Ken

I have just added this indicator to my trading based on trend line and S/R, Fibo

this indicator help me identify the trend on different timeframe

Okay, that helps.

I am still trying to figure if I would make an entry based on a 5 or 15 minute signal, I have went out to a 30 Min to watch and observe entry points.

I would agree with each and every tool you have working in agreement with any such signal prior to jumping in at every red or blue dot that appears.

Ken

That's sounds interesting...I will have a closer look, thanks steinitz.

I just wanted to say a few words here. I have asked for this new MTF indicator with alerts and so far I have used it less the alerts and find it really does not help much with what I was seeking. Yes it would be nice to have all 8 TF's on the screen.

Here are the issues with that.

1. Takes up too much memory and hogs the CPU

2. Whatever Tf you choose to enter or scalp you don't need to look past any higher TF's then the 4 we started with.

Therefore, I am going to stick with the 4 TF's which is just fine for any of my methods. By the way I am punishing the market and my closed P/L is growing. I had som 4hr counter trend entries that finally came into fruition. I stayed with them because the daily, weekly and monthly were long.

If an EA is to be made from this I can see that the scalping method may be the one that can be defined and written mechanically. The other method is a bit more complex.
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I know I said I would post on Friday my results. Well I lied. I am posting some new statements.

ONE MILLION DOLLARS SOON

Hello steinitz!

Thanks a lot to share with us your system


Is there something wrong with this indicator

Heiken_Ashi_Smoothed_Alert.mq4


I don't hear anny sound from it???

Thanks

Hi all, By chance I clicked on the link to this method on the FF main page at the end of last week and became interested to read the threads. The system has merit and surely worth a try. I started trading this method live yesterday with small lots and within the last 24 hours netted + 105 pips. There's been nice moves in the market last 12 hours and lots of pips to be made if trading several currency pairs. I just wasnt ready to trade more pairs as still learning this system.

Steinitz, great work, thanks for the time and effort you've put into this and taking the time to clearly explain your method.

P.S: Geax, regarding the question in your post above, I had the same problem until I realised that the sound and pop up window are set to false in the HAS with alert indicator. Right click on your chart, choose indicators/HAS/edit/inputs and change last 2 lines to true.

Thanks a lot PipStar!

I might be stupid.... I can't do what you said....

I will tell you step by step the paht and what I see...


1- right click on chart

2- select indicators list

3- select Heiken_Ashi_Smoothed_ALert

4- click on Edit

5- select imputs tab

5- Now What I see on the 2 last Variable and Value is :
Variable = MaPeriod2 Value = 2
Variable = SoundAlertMode Value = 0

6- I'm only able to change the value to an X number, that's it...




Ok thanks again....

Geax, you dont seem to have the same indicator that I have. I downloaded mine from post No. 176 on this thread posted by Steinitz yesterday. As far as I know that is the latest version. Have a look at his post No. 176.

P.S: You are trying to do this the right way to enable sound but your indicator just differs.

ohhhhh!!!! Great thanks a lot!!!!

Let me explain some of my rules or techniques. First off I have been reading some threads on MM and using a martingale system. I could go into this much further but no MM scheme will give any negative expectation system an edge or become profitable. You must start with a method that has an edge and then various MM methods can produce desirable or undesirable results.

Sorry about that but I wanted to get that out of the way. There are many traders that believe one must employ a stop loss. There are some traders that understand that a stop being either mental or physical has no technical merit. It is only an arbitrary way to control ones emotions from seeing your method go through ebbs and flows.

Do you think I had a stop loss when I was counting down a 6 deck shoe in blackjack and dumped 5000.00 midway with a positive count (players advantage)? Hell no. I kept on putting more Benjamin's on the betting square regardless of outcomes. I am here for the long run. I will eventually make money. An edge is an edge.

I exit not on some $ value that makes me feel warm and cozy. I exit on rules. When the long term trend is telling me to do so. I look at the colors of the longer trend to see if he/she is my friend.

I started with 5,000,000.00 in my account. I have floating losses. I love losses. They tell me I am in my trade at the right time. All my losses thus far have turned into profits. I am not even trading higher lot amounts as my account grows purposely to show how many times I can scalp profitably. This way if I can show a nice win/loss ratio I can quantify my edge.

After that I could use some "kelly" wagering based off of my account balance and edge and move up or down my lot size.

I just closed out two more trades this morning with another 60 PIPS profit. How many traders do you know trading every currency pair? I also need to trade this for a period of time to trade across various market volatility enviroments.

Just checking in with results.......

Stein,


What is the latest and greatest way to trade your system???
B>

This post came to me as I was waking up this morning. I am still closing out profitable trades they were floating losses. In fact the largest floating loss was Cable that hit a 170 PIP drawdown and came back to show a 40 PIP profit but I was sleeping. It is now around 15 PIPS winner but I am holding out for a little more.

Let me give you some information on how I started trading and why it didn't work. I started out with "DMI" as my indicator showing good trend strength and I would buy on dips and sell on rallies using the MACD. I would typically go to a 30M DMI trend and use it for scalping. What would happen is I would book a few 5M profitable scalps then the inevitable change in trend would occur and my LAST trade would be a loser and wipe out too much of my scalping profit.

So I turned to the 4hr DMI trend and the same thing occurred there too. A bunch of 5M winners and the inevitable last trade became a loser since the 4hr DMI trend reversed.

So now I come up with this method using the HAS as my trend indicator and instead of using it for scalping I noticed it had pretty good entries but horrible exits. I mentioned this all throughout my initial postings on "Forex Factory". I said we need exit strategies.

Well here is my final thoughts on this matter. Anybody who has a strategy including myself that picks a TF to trade irregardless of style is attempting to fade the overall trend. In fact I would go so far to say that the exits that killed me before were actually entries. What? Did I say that correctly. Yes! They were entries back to the original trend direction.

So here it is. I will consider the "Steinitz" method as only ONE method. If you choose to use the original method you better take your trade profits early and figure out when to close it. I won't be focusing on that anymore. That trade methodology is probably going to show profits but you will have to be psychic knowing when to TP's and can't walk away from the computer.

So for now on I am only going to discuss and work on alerts and EA's for my present system. It's all about scalping medium to long term TF's and the availability to walk away from the computer knowing that if by chance I miss my move to the some profit level it will come back again.

Also, people talk about whippy trading and low volatility etc etc. When I am in my trade I have already set myself up for success since the currency pair is trending already all the way up to the monthly timeframe. <<<<<<< That is the key to this method.

I am up around 680 PIPS since April 1st. Also, don't ask me about stops as they are not part of my method. I will always be trading about 10 currencies at one time evenly distributing my risk. I couldn't care less about a stop or how far down my trade is going. When I enter a 4hr trade against a daily, weekly and monthly trend I will see some floating drawdown. If you can't handle that don't choose that longer TF to fade. Pick 15M or 30M.

No wonder why so many people fail including my 8 years to figure this out. We are all using these short term TF's that we attempt to trade on but behind the scenes is the BIG BLACK HOLE that sucks your trade into the main trend direction.

Larry Williams once said while explaining his %R indicator and I quote "If the trade looks wrong, it is probably right".

Think about that!

Hi Steinitz:

You wrote in #197.......

"So for now on I am only going to discuss and work on alerts and EA's for my present system. It's all about scalping medium to long term TF's and the availability to walk away from the computer knowing that if by chance I miss my move to the some profit level it will come back again."

Since I have a day job, and cant be in front of the computer, I want to trade looking at daily chart,(Long Term) to go long, then do I look for monthly & weekly HAS showing both showing "blue" color?

And should my trigger be on the candle looking at the 4HR chart when the HAS is showing me Red color?

Please correct me if I am incorrect, in my thinking.

Thanks
Zee

You are correct sir!

Hi Steinitz:

Thank you for your answer.
Zee