OK. Here it is. You need to put both in your indicator folder. When it's attached, you can go into settings and activate the sound alert, and also text labels in the input section, and you'll get a nice little text entry of exactly where the candle changed color in addition to a sound alert.
I did a quick search on that thread, searching through the "paperclip"
I could not see the indicator.
I would imagine that if it is posted on FF you can share it here.
In fact a lot of the indicators that make the rounds are ones that have been shared on other threads.
Hey Anne, how do you determine when to cut the loser? That is my weakness right now.
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Hi Jim
I'm just going with the +5/-10 strategy. But I don't let it get that far! When I open a trade I set a SL of -12 and a TP of +12. I have to do this as the dang broker has a minimum SL/TP of 10 pips, then the spread. This is just for safety if the internet fails (has hapenned!!) LOL!
But I keep a very careful eye on the thing and if I get -5 against me I am out. This could be wrong! I am only learning like everyone else. Just my style 'cause I HATE losing pips.
If you think about it, one -10 loser wipes out 2 +5 winners. So if you win 2/3 you break even. You MUST do better than that to make pips. Edge suggests 8/10 but this is only 13% more than 2/3. So I try to keep the SL at -5. Then one loser only kills one winner and you break even at 5/10 trades. If you can get 8/10 you are doing OK.
But I keep a very careful eye on the thing and if I get -5 against me I am out. This could be wrong! I am only learning like everyone else. Just my style 'cause I HATE losing pips.
What do you think?
Anne
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This is what I am doing also, I am just not comfortable yet with a 20 pip stop and a 10 pip TP. I like to get 5-6 pips out of a 10 tic bar after an entry, then I am out. But I find myself letting price go against me, up to 7 pips on the last round of trades, before it came back to be a winner.
In the back of my mind, I keep hearing "all it takes is one runaway loss to wipe out 3 or 4 trades"...
What you're doing is probably the better way. 10 of those (net) a day is all you'd need. I'll be experimenting with +5 and + 10 on a small pnny type live account to see which is better.
I'm just going with the +5/-10 strategy. But I don't let it get that far! When I open a trade I set a SL of -12 and a TP of +12. I have to do this as the dang broker has a minimum SL/TP of 10 pips, then the spread. This is just for safety if the internet fails (has hapenned!!) LOL!
But I keep a very careful eye on the thing and if I get -5 against me I am out. This could be wrong! I am only learning like everyone else. Just my style 'cause I HATE losing pips.
If you think about it, one -10 loser wipes out 2 +5 winners. So if you win...
I thought I would share this nice visual. With Renko bricks set at 10 and Trix set at 2, E,E,E, you cans see that pover the last few days almost every trade on the EU would have been a winner, regardless of time of day.
Just my luck I have to travel this week and won't be able to trade until I get back.
Probably mostly because I'm trading after hours too close to NY lunch time I guess. Think Edge said 7 am to 11 am for us in EST.
Thought I'd post my losers anyway just to compare the original c4 set up to the one I'm using now. I think the original settings does give less fake outs when market starts to flat lines.
I might have to give the poor man Renko a try..., at least after prime time trading hours.
10 trades just going for +5 on a 10-pip Renko. 9 winners.
Anne
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Hi TG,
I see your loss was apprx half your ave win - actively working your SL.
Great to see your postings. I'm watching the renko posts with much interest, and will prob "go get it" very soon.
An advantage I see in them is that there is a built-in ADX function, by getting in once PA/brick has cleared the MA and gotten away from the mash into directional movement ... sweet
Probably mostly because I'm trading after hours too close to NY lunch time I guess. Think Edge said 7 am to 11 am for us in EST.
Thought I'd post my losers anyway just to compare the original c4 set up to the one I'm using now. I think the original settings does give less fake outs when market starts to flat lines.
I might have to give the poor man Renko a try..., at least after prime time trading hours.
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hi 45fxguy,
sometimes u have 2 jump the gun abit. i think it's ok 2 anticipate trades in advance sometimes. rules r abit rigid at times. it might get u in 2 early or 2 late. like in your case. trade well. thanks
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Joined Nov 2008
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All,
Initial tests on the "diamond" counting scheme indicate that it gives roughly equivalent performance to the Trix(2,E,E,E). So nothing to get excited about there. Just a different way to skin the same cat, so to speak.
So just stick with the Trix or SMcandles for now...
Thats what I thought too. Does MT4 paint the order entry in the wrong place? From the looks of it, you entered, then there was another blue brick that closed after your entry, and then price moved against you...
sometimes u have 2 jump the gun abit. i think it's ok 2 anticipate trades in advance sometimes. rules r abit rigid at times. it might get u in 2 early or 2 late. like in your case. trade well. thanks
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Thanks.......
I was starting to think that too, the vorticity signal alerts I placed as my 1st alert signal may have been good entries for these trades it looks.
