amytrade, pm me your name if you use any instant messaging
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Ask any questions you have about trading here. I'm only on here for a few minutes a day and the rest of the time trading, sleeping/napping, with family, or working on automated systems and can't/don't want to be bothered. In case you are asking for one on one tutoring sorry I'm not interested.
My new method seems to kick a$$! Most predictions and biases to trade in that direction payed off.
I'm spending most of my time putting my levels into TopGun's VB script editor and it will be in a format majorly different than I can easily translate to a forum but will show you pairs I feel will be strongest/weakest tomorrow. The systems I'm developing use real time trends though to confirm or deny these though so don't use these blind!
Stronger ones you can buy at CLOSER support, anything over 50 is bullish and under is weak. Weaker ones sell at close resistance levels. Really super easy, use pivots off monthly, weekly, previous days/weeks/months highs and lows and fib levels.
The higher the strength reading the stronger the currency is now and is likely tomorrow as long as trend continues, ie higher highs, higher lows. The lower the number the weaker it is now and should be as long as trend doesn't reverse.
It seems pretty kick a@@! I dont need tutoring I do well for myself trading, but always wanting to learn and thats what this thread has begun. I wanted to offer other signals/calls but dont want to do so on this thread or on forex factory. Great job so far the insight is spot on and very in depth.
It seems pretty kick a@@! I dont need tutoring I do well for myself trading, but always wanting to learn and thats what this thread has begun. I wanted to offer other signals/calls but dont want to do so on this thread or on forex factory. Great job so far the insight is spot on and very in depth.
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Ok makes sense. I'm spending most of my time now working on systems. Getting there and they're making some money but no where near their potential. I have an intelligent trailing stop that uses TopGun's chandelier stop and tightens it when it goes outside their containment bands or above/below hourly stat high/low and even more when it hits the 1Std Dev stat high/low and in many cases it catches 95% of the trade but also gets out too soon on way too many trades.
I've realized this while trying to code up how I trade myself, teaching a computer to know when to employ one exit method vs another is very difficult!
I probably have a few more months perfecting my system but when done don't mind collaborating with you or others on methods. I try to be single minded when doing projects though so will have to finish this first.
Here's the AUDJPY, traded it long as my overnight analysis suggested and REAL TIME confirmed. But the 3am trade got stopped out 60 to 80 pips sooner than I would have manually and my 9:30 counter trend short got stopped out instead of making 50+ pips like I would have. I'm using 4 different stops now for different types of trades and suspect I'll have to use more OR wait for an X pip move before tightening most likely.
This is a dynamic tool and completely different than my previous anticipatory system where I looked at and analyzed each and every pair. Trends that are strong can continue but many are up to levels where they could easily reverse tomorrow so be careful. I'm using real time tools to filter the buys/sells IF and ONLY IF they are strong/weak in real time.
Exceptional day Friday with all predictions except USDJPY and GBPUSD exploding in anticipated direction.
Here's great chart of EURUSD, found support at 6:30am at hourly and exploded up. For those of you who don't use the Chandelier trailing stop you should take a look at it. It does an amazing job of keeping you in for the majority of strong trends.
This is a dynamic tool and completely different than my previous anticipatory system where I looked at and analyzed each and every pair. Trends that are strong can continue but many are up to levels where they could easily reverse tomorrow so be careful. I'm using real time tools to filter the buys/sells IF and ONLY IF they are strong/weak in real time.
After big trend days the market often consolidates so be careful of that tomorrow. These trend numbers show current trends and their relative strengths, above 50 is strong and under 50 weak. The trends on Thursday spilled over to Friday but its less likely tomorrow the trends will continue. I expect CHOPPY trade. I hope I'm wrong but if you expect it and it doesn't show up great but if you are expecting it and it shows up you won't get chopped up into pieces.
I'm also looking for real time signs of reversals in many of these even strongest and weakest ones.
Hello Amytrade,
How can I get the fx power index and fx multi map indicator?
Thanks.
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It's in the TopGun Software. Search Google for this name or LeverageFX their forex site and you can find them. If you're a smaller trader you can get software free by trading with FXDD or FXCM. If you have a bigger account or don't like these brokers due to the higher spread they have than some options out there you can just buy the software like I did.
I used to spend 40 minutes doing analysis on about 26 pairs to get my biases for next day but using a VB script I wrote and using the FX Power index and multimap on 3 longer time frames I find almost as accurate.
You need to use FILTERS when trading. If its on my buy list and ABOVE the 20 period hourly simple Moving Avg then look for pullbacks and when trendline broken buy, stops under the last swing low and trail your stop up. Reverse for shorts. I was swamped today but will post some screen shots tomorrow of trades I took. I use the Power Index mainly so if a pair thats strong today isn't strong tomorrow and shows weakness instead I'll short it but prefer to trade IN the direction I am anticipating for tomorrow.
I thought I'd have more time today so only going to post 2 charts going to show strongest likely pair today EURUSD and weakest CADJPY. I always watch real time strength/weakness results but wanted to show trades I take based on my shorter term systems.
The EURUSD wasn't the strongest pair today, GBPUSD was for much of it, but it was my likely strongest yesterday. There were 2 great wedge breakouts and the pullback at 7am was excellent as the EUR was getting strong and USD weaker EVEN THOUGH THIS PARTICULAR pair was falling at the time. YOU RARELY see this type of trade but it works as close to 100% as any pattern I trade with.
CADJPY was likely to be weak today so first short on pullback didn't result in much profit but upper containment band which stops price movement 70 to 80% of the time in likely weak pairs held as resistance and on breakdown was excellent short. Then once it broke hourly moving avg at 9:30 am EST was perfect due to previous weakness at 7am till 8am. It was the second weakest pair of ALL of them! Yellow bottom band is almost always the max distance so perfect exit point to capture virtually all of the profit.
I'm not sure how useful these predictions are as they're only 1/4 of what I'm using in my auto systems and rely totally on real time strength/weakness to confirm or deny their validity.
But will post anyway, you can use many filters to find this and if your currency software has scanning just scan for above a certain moving avg for buys and below for sells. A good rule of thumb also is above the Daily Pivot buy and below sell. A buy candidate that's below the daily pivot is invalidated !!! That rule alone will keep you safe.
I'm of course watching these real time and only focus on ones where REAL TIME strength/weakness confirms anticipated direction. Without the tools I use you can use hourly 20 period simple moving average also. Above look for buys, below sells.
I've been working on creating automated trading systems with TopGun's Visual Basic language with pretty good results. Since I'm doing this in a way that would take me an additional 30 minutes to translate my trade levels and plans back into human english so people on here could understand and because I have nothing to sell or promote on here that's a total waste of my time.
Once I fully get my automated systems done I may come back but its just too time consuming. There's pro's and con's in their programming system. The pros is you can do anything you want and have systems based on tons of different time frames. The downside is it only works in real time so I have to code stuff up, then run it overnight and then fix what's wrong and try to improve the rest. I will probably go live with this in next few weeks. It usually makes over 100 pips net per day and on some trend days a fortune.
Goal is to make more money and sleep throughout the night letting computer trade for me.
