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  • #241
  • Apr 14, 2007 7:01pm Apr 14, 2007 7:01pm
I have an alert that was programmed awhile back that will pop-up and sound up to two simultaneous sounds overlapped to get your attention. You just need to set the values both as "true" inside the indicator. It's self explanatory.

The alert will announce upon a color change on the MT4 TF setting (lower MTF TF) If platform is set to 30M that will be the TF you will receive an alert on.

At first I didn't want an alert on a non closing HAS candle. But upon further contemplating of my naval I figured this is better. Here is why:

1. Let's say you are long based on all upper TF's.
2. Ok so you drill down to the 4hr and find a reversal
3. You drill down one TF lower to the 1hr and you want to get in on the 1st blue candle.
4. Set your alert and when the candle on the hr is forming (unstable and not closed yet) you will get your alert at the first instance of a blue candle. If this candle goes back red you will get another alert. If it goes back blue another alert. This if course will happen as the candle is accumulating 1 hours worth of price movement.
5. This is ok and maybe preferable since we want are ass woke up out of bed. I have no problems with the first hint of blue since I just want to get in at some decent sign of reversal. Why wait for a whole 1 hour passing to seek a closed candle.
6. This alert may go back and forth alerting us as the candle goes from red to blue and possibly back to red hence a nice alarm clock. I know this is how it worked with the pop-ups. I am not sure about the sounds but I am almost sure it works the same way.

------------------------------------------------------------------------

I will be sending this alert to all me members right through your email. Please say thanks to CJA for his work as he deserves all the credit!
  • #242
  • Apr 14, 2007 7:42pm Apr 14, 2007 7:42pm
Here is an important key to the vault concept regarding scalping and the "fine tuning" method. When you drill down one TF lower then the initial TF that was found for the entry make sure you don't enter in a parabolic move.

If you do you have entered late. You have missed the train leaving the station and won't make much in the trade. So if you find yourself hearing the alert and you see that big ass move just "forget about it" and move on.

You can always drill down TWO TF's lower then the desired TF and will often times avoid the initial spike. However where there is a bonus there is also a booby prize. If you do scale down TWO TF's lower to enter you will sometimes catch an early entry that is a fake out.

Don't worry as ANY ENTRY that wasn't entered on a parabolic spike is ALWAYS preferable to just getting in at a random entry like I have been doing to save time.

Go to ForexTSD website for images. They re-produce better over there!!!!!!!!!

http://www.forex-tsd.com/suggestions...d=1#post103709

Post #246
  • #243
  • Apr 14, 2007 8:55pm Apr 14, 2007 8:55pm
I want to comment about time of closing bar.

Regardless MT4 server time,
Daily bar closes @ 23:59:59, new bar starts @ 0:00:00
so if we are on April 13 @ 15:37, we have unclosing bar of April 13 and closed bar of April 12, then if we move down to 4H bar, we have "12-16" 4H bar of unclosing bar, and closed bar of "8-12" 4H bar.
Then move down again to 1H bar, we have "15:00" 1H bar of unclosing bar, and closed bar of "14:00" 1H bar.
For 30M bar, 15:30 is unclosed bar, 15:00 was closed bar
For 15M bar, 15:30 is unclosed bar, 15:15 was closed bar
For 5M bar, 15:35 is unclosed bar, 15:30 was closed bar
So in real time we should move forward as time goes forward as well, it is our decision where we enter while looking at the patterns for these multiple TFs.

If I do make mistake, please clear this up.
  • #244
  • Apr 15, 2007 8:33pm Apr 15, 2007 8:33pm
Somebody asked what happens if the highest TF being the month is blue and all lower TF's starting with weekly are red. He asked what would I think. I have gave it considerable thought and I feel in my opinion that if for example:


Monthly = Blue

Weekly = red

daily = red

4hr etc = red

I would consider the weekly as the highest TF and work down from there. If your trade goes against you the rules would say exit if weekly turns blue. Yes you would lose a ton of pips but I have had my success thus far not having a pip stop.

Take a look at the charts and see how likely you would get stopped out let's say with a 1hr entry and all TF's up to a week are in favor of the trade direction.

I don't feel this is crazy trading. I think if you adopt your own pip stop and alter things you might be shooting yourself in the foot. I never have too much trade capital on any one trade which gives me a piece of mind.

Please don't assume I believe in any martingale system. I don't. I truly understand them having been exposed to all the betting methods known to mankind in the casinos. You can't obtain any edge from any betting style if the underlying method has a negative expectancy.

If you have a positive expectancy you can vary all sorts of betting gyrations and you will have various outcomes based on how much you risk.

--------------------------------------------------------------------------

INTERESTING FACT



If you over trade your account exactly double based on your edge and capital you will break even in the long run. If you over trade your account by triple you will loose in the long run.

This is all based off of good research when we are faced with how much to wager based off of our edge and capital size. It works with any method that offers an edge and one bases his trade lot size according to bankroll amount.

Here is the rub. What edge do we have. To figure ones edge it becomes a little tricky. You need to calculate how much money you put into action and divide that by your profit/loss. Now what makes this a little more difficult is most of us work off of margin.

There are two schools of thought. Do we use the money we wager as only our margin requirement or do we use the full amount put into action? I guess both ways are correct. You could have a margin call if a nuclear bomb went off. So there you go. I just got off track and hit one of my tangents, sorry.
  • #245
  • Apr 15, 2007 9:20pm Apr 15, 2007 9:20pm
Just got my first actual alert looking to enter on a 30M but using the 15M drill down and received a bunch of alerts as the 15M was toggling back and forth. Looking to go long now.....
  • #246
  • Apr 15, 2007 9:29pm Apr 15, 2007 9:29pm
When I was talking about that example with the month being one color and the week >>>>>>>>>> downwards being another color I wanted to add this.

If we see the monthly down to the 1hr for example being all blue we don't know what the yearly says. So if we just go off the weekly and ignore the monthly I think we are ok. We are not looking to scalp 200 pips here. If you are looking for big pips be careful of the weekly in this example because you just got a glimpse up a girls skirt since you were able to see the next higher TF being the monthly....

  • #247
  • Apr 16, 2007 5:12am Apr 16, 2007 5:12am
Hi steinitz,

I am looking forward to forward testing your system on a demo account, but before i do, i would just like to confirm that I understand it correctly.

I will be trading the 1h/4h time frames as this best suits me. To enter a long position, both the 1h and 4h lines on the 4TF HAS BAR indicator would have to be showing blue, and exit when they both turn red(which would give me a short signal), does this mean I ignore the daily and weekly lines on the indicator?

Also, what currency pairs do you trade with this system?

Thank you for sharing this system, and looking forward to a future filled with pips
  • #248
  • Apr 16, 2007 6:13am Apr 16, 2007 6:13am
You're talking about original method, right now Steinitz proposes to focus on scalping method, which begin with higher TF and move down to lower TF, but I believe all 3 methods are great combinations, try to fire trades according to the methods, leave it a few days, you will admire HAS then.
  • #249
  • Apr 16, 2007 6:38am Apr 16, 2007 6:38am
Hey Don,

Today, I exited my GBPUSD position because the 5min TF showed some red candles, and upon my further investigation I believed that this would be a stalling point. I like to scalp so my system is now going to be 30/15/5 min TF instead of what I was trading before - 30/10/3. Too bad MT does not give the option of a 10/3 min TF. Or is this possible?

Furthermore, I like my setup. I have 4 windows on my screen with your HA smoothed on all 4 drawn on each chart. This seems to work better for me visually than to have the indicator at the bottom of the chart - take a look.

So far, the system works perfectly. I still have to get used to the alerts. As I type this email, I hear some sounds but have to assume that this is the alert that was programmed.

Anyone got an idea how to change the time zone to NYC time?

Thanks,
Al
Attached Image (click to enlarge)
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  • #250
  • Apr 16, 2007 9:59pm Apr 16, 2007 9:59pm
Quoting FibzY
Hi steinitz,

I am looking forward to forward testing your system on a demo account, but before i do, i would just like to confirm that I understand it correctly.

I will be trading the 1h/4h time frames as this best suits me. To enter a long position, both the 1h and 4h lines on the 4TF HAS BAR indicator would have to be showing blue, and exit when they both turn red(which would give me a short signal), does this mean I ignore the daily and weekly lines on the indicator?

Also, what currency pairs do you trade with this system?

Thank you for sharing this system, and looking forward to a future filled with pips
Yes you enter when you have two like colored bars. This 1hr and 4he would be blue so you can go long. I don't have a great exit strategy. My original rules said to get out only when you have all three TF's in the opposit color. In this case all red.

I don't favor this exit as you gave back to much profit. If you get out with less opposing colored bars like 1 or 2 you get head faked too much. The entries are pretty good but exits need something else. Some people like pivots.
  • #251
  • Apr 18, 2007 2:51am Apr 18, 2007 2:51am
Hi steinitz,

your Tradesystem is very profitable, i trade 1 m chart, i get very early signal and the drawdown is very little, is good for intraday trade. With alert it would be even better. Very good job.


  • #252
  • Apr 18, 2007 5:58am Apr 18, 2007 5:58am
Quoting steinitz
I have an alert that was programmed awhile back that will pop-up and sound up to two simultaneous sounds overlapped to get your attention. You just need to set the values both as "true" inside the indicator. It's self explanatory.

The alert will announce upon a color change on the MT4 TF setting (lower MTF TF) If platform is set to 30M that will be the TF you will receive an alert on.

At first I didn't want an alert on a non closing HAS candle. But upon further contemplating of my naval I figured this is better. Here is why:

1. Let's say you are long based on all upper TF's.
2. Ok so you drill down to the 4hr and find a reversal
3. You drill down one TF lower to the 1hr and you want to get in on the 1st blue candle.
4. Set your alert and when the candle on the hr is forming (unstable and not closed yet) you will get your alert at the first instance of a blue candle. If this candle goes back red you will get another alert. If it goes back blue another alert. This if course will happen as the candle is accumulating 1 hours worth of price movement.
5. This is ok and maybe preferable since we want are ass woke up out of bed. I have no problems with the first hint of blue since I just want to get in at some decent sign of reversal. Why wait for a whole 1 hour passing to seek a closed candle.
6. This alert may go back and forth alerting us as the candle goes from red to blue and possibly back to red hence a nice alarm clock. I know this is how it worked with the pop-ups. I am not sure about the sounds but I am almost sure it works the same way.

------------------------------------------------------------------------

I will be sending this alert to all me members right through your email. Please say thanks to CJA for his work as he deserves all the credit!
Thanks for all the hard work. Looks really impressive. Can't wait for $ madness to subside so that I can look at trend indications in normal conditions.
Please can you forward the alert to me as well.

Thanks again.
  • #253
  • Apr 18, 2007 2:26pm Apr 18, 2007 2:26pm
Hi everyone...

I prepared a Word doc for the HAS System. I copied and pasted Steinitz's HAS doc and all related posts from the threads, complete with charts. I edited it for spelling and grammar. I also included relevant posts by other members (e.g. Acetrader). There's also material from the other forum that Steinitz started at. It's a large file, so it will be 2 parts.
You can add to it as we go along at the forums.
I hope this will be helpful to all.
Heartfelt thanks to Steinitz for sharing his great system.
Happy & successful trading.......
Lilly


Go to:http://www.forex-tsd.com/suggestions...d-here-41.html

Post #401

To see the word docs. I tried uploading them here and this forum can't handle the memory size.
  • #254
  • Apr 18, 2007 7:12pm Apr 18, 2007 7:12pm
[quote=funboyz;275592]Hi steinitz,

your Tradesystem is very profitable, i trade 1 m chart, i get very early signal and the drawdown is very little, is good for intraday trade. With alert it would be even better. Very good job.
/quote]
Hi Funboyz,
What time do you use Steinitz's system with 1m charts?

Bests
- Sukhen
  • #255
  • Apr 18, 2007 7:33pm Apr 18, 2007 7:33pm
Please explain how you use this on the 1 M charts. Thank you.

[quote=sukhen;276338]
Quoting funboyz
Hi steinitz,

your Tradesystem is very profitable, i trade 1 m chart, i get very early signal and the drawdown is very little, is good for intraday trade. With alert it would be even better. Very good job.
/quote]
Hi Funboyz,
What time do you use Steinitz's system with 1m charts?

Bests
- Sukhen
"Loss and failure are inevitable but misery is optional"
  • #256
  • Apr 18, 2007 8:27pm Apr 18, 2007 8:27pm
What happened to the sub forum???


B.
"Skills pay the bill's!"
  • #257
  • Apr 18, 2007 8:45pm Apr 18, 2007 8:45pm
I guess Merlin didn't like all the attention I have been getting. I have been directing all members to both forums giving both forums an equal opportunity with a symbiotic public readership.
  • #258
  • Apr 18, 2007 8:59pm Apr 18, 2007 8:59pm
I will only be available at ForexTSD from now on. I don't appreciate losing my moderatorship and now my sub-forum.
  • #259
  • Apr 18, 2007 9:28pm Apr 18, 2007 9:28pm
AAAGGHHH...

I don't like Forex-TSD. Why don't you email Merlin and work it out?


B.
"Skills pay the bill's!"
  • #260
  • Apr 18, 2007 10:00pm Apr 18, 2007 10:00pm
I am sure Merlin Does'nt want any of the rules broken.

But, Merlin just think of all the users you are getting that are checking out FF from other forex websites like F TSD. We are a community of traders and I am sure most of us have several forums we visit daily. I know I do!
Could it be Man is trying to be something without knowing they're complete?
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