NITRO Variations for Open-minded Traders | Page 4 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

NITRO Scalping for serious traders 863 replies

MT4 Indicator for daily variations 0 replies

The Absent Minded Investor - Adventurous Forex Trading Tales 32 replies

Attachments: NITRO Variations for Open-minded Traders
Exit Attachments

NITRO Variations for Open-minded Traders

  • #61
  • Aug 28, 2009 1:14am Aug 28, 2009 1:14am
Quoting asdf
Here is the follow up to the earlier chart. My apologies to studbiol and any others who may have been confused. I did not intend to be cryptic or play the role of the riddler. I was merely trying to provoke some thought. Hopefully this does not add to the confusion. When looking at this chart, just look at it as is. I did not have the benefit of scrolling to the left. So I just started with the failed triple bottom. (LL = lower low, HH = higher high)
Thank you asdf. It was very well and clearly explained chart. Although every trader should know these things by hart it is always good to have a refresher course on these things.

Regards

Kristjan
  • #62
  • Aug 28, 2009 1:31am Aug 28, 2009 1:31am
Quoting deang001
Keith - Why don't you send us an email explaining what happened to the account?
Please keep on topic. This is not the place to air grievances. We are here to discuss trading Nitro and improve our trading.
  • #63
  • Aug 28, 2009 1:40am Aug 28, 2009 1:40am
OK guys here are my variation from original Nitro. Instead of 10 pip brick I use 5 pips brick a bit faster and what is more important for me the stops are smaller. I use SM trix and act based on its arrows when it is inline with MOM. I use two of them. Both are with the same value but on is open and second one is closed. Small arrows on the chart are just MA crossing alerts just for alerting purpose.
My sl is always 15+spread (so it is 3 bricks) which with alpari is now moving up and down but I take average and it is 2 pips and my tp is always 10-spread (2 bricks). Sometimes when I have not placed my pending order it might be pip more or pip less.
OK yesterday’s trades. There were 9 trades 5 winners and 4 losers. Now you might think that this is crazy such a lousy hit rate. But the main thing is that I made money with it. Attached is the chart where all my trades are marked. So what is the conclusion on this? It is all about MM not only that 2% and how much you risk per trade and so it is more. If you look my trade size then you might figure it out what system it is and how those trade sizes are calculated. So when you have 90% of hit rate you should be making tons of money with proper MM. I think now the next step for the group should be to figure out the proper MM cos everything else is already in place.

Regards

Kristjan
Attached Image (click to enlarge)
Click to Enlarge Name: näidis.gif Size: 63 KB
  • #64
  • Aug 28, 2009 1:51am Aug 28, 2009 1:51am
Quoting kristjantelve
There were 9 trades 5 winners and 4 losers.
Kristjan,

I see only 5 winners trade. The 4 losers are filtered out by HMA.

Take care & keep up the good work.

GrZack
  • #65
  • Aug 28, 2009 2:23am Aug 28, 2009 2:23am
Quoting GrZack
Kristjan,

I see only 5 winners trade. The 4 losers are filtered out by HMA.

Take care & keep up the good work.

GrZack
Yes and no. When making visual back test it may seams that it really filters out some of the bad trades but in reality that HMA changes color and it can not be 100% bullet proof thing for filters. The only filter it can provide is that wehter the price is above or below the line. One can easily trade without the line also. I have just kept it as for old time sake.

Regards

Kristjan
  • #66
  • Aug 28, 2009 2:59am Aug 28, 2009 2:59am
Quoting asdf
Here is the follow up to the earlier chart. My apologies to studbiol and any others who may have been confused. I did not intend to be cryptic or play the role of the riddler. I was merely trying to provoke some thought. Hopefully this does not add to the confusion. When looking at this chart, just look at it as is. I did not have the benefit of scrolling to the left. So I just started with the failed triple bottom. (LL = lower low, HH = higher high)
Yes...PA is always PA....
An H&S is visible in every TF chart...with Renko is much clear because there's no time factor...but the prices are the same...

Watch my chart...just now EURJPY is forming a double top, with a divergence of trix 3
Trix 3 is only an additional information, we can se the double top also without indicators...
When the double top is confirmed? When the price falls below the support line i've drawn...that is an easy support to find in the chart..

Obviuosly this has nothing to do with scalping...but can be useful for who wants to catch more pips...these are the basis of the technical analysis...and Renko makes more easy to find these formations..
Attached Image (click to enlarge)
Click to Enlarge Name: divergence.gif Size: 16 KB
Market is like a puzzle, YOU have to fit the pieces!!
  • #67
  • Aug 28, 2009 4:04am Aug 28, 2009 4:04am
GREAT ASDF!
Great material!! It's all in the PA!
Keep it coming!!

Quoting asdf
Here is the follow up to the earlier chart. My apologies to studbiol and any others who may have been confused. I did not intend to be cryptic or play the role of the riddler. I was merely trying to provoke some thought. Hopefully this does not add to the confusion. When looking at this chart, just look at it as is. I did not have the benefit of scrolling to the left. So I just started with the failed triple bottom. (LL = lower low, HH = higher high)
  • #68
  • Edited 5:01am Aug 28, 2009 4:34am | Edited 5:01am
Resistance level touched for the 3rd time... price is long in all other pairs and momentum is high...
...if PA goes beyond the resistance line it's buying time

....or
momentum may go down and become a triple top, PA then falls below the support line and it's selling time!!

Am I ok?
Attached Image (click to enlarge)
Click to Enlarge Name: 7.gif Size: 28 KB
  • #69
  • Aug 28, 2009 6:07am Aug 28, 2009 6:07am
Great info ASDF.
helps put things back in perspective. Sometimes it's easy to get caught up in the scalping...looking at what is happening right now.
We forget about the basics and the bigger picture
  • #70
  • Aug 28, 2009 6:22am Aug 28, 2009 6:22am
Today i'm working with a hybrid templete...half Nitro and half C4... back to old school...

Nitro has the advantage of smoothing PA...
C4 has the advantage of being "faster" and gives more signals in a day...

While all was quite sleeping on Nitro...i've made 4 trades with C4...simple, fast, and with a smaller SL...

The truth is always in the middle...right??
Attached Image (click to enlarge)
Click to Enlarge Name: 082809b.gif Size: 61 KB
Market is like a puzzle, YOU have to fit the pieces!!
  • #71
  • Aug 28, 2009 7:12am Aug 28, 2009 7:12am
Quoting Chris_B
Today i'm working with a hybrid templete...half Nitro and half C4... back to old school...

Nitro has the advantage of smoothing PA...
C4 has the advantage of being "faster" and gives more signals in a day...

While all was quite sleeping on Nitro...i've made 4 trades with C4...simple, fast, and with a smaller SL...

The truth is always in the middle...right??

Chris
You have traded (and are trading?) both C4 and Nitro-renko. What advantages , if any, do you see with Nitro over the relatively 'conventional' C4 method

thanks
R
  • #72
  • Aug 28, 2009 7:25am Aug 28, 2009 7:25am
Hi Chris,

back to indicator based trading ?



Quoting Chris_B
Today i'm working with a hybrid templete...half Nitro and half C4... back to old school...

Nitro has the advantage of smoothing PA...
C4 has the advantage of being "faster" and gives more signals in a day...

While all was quite sleeping on Nitro...i've made 4 trades with C4...simple, fast, and with a smaller SL...

The truth is always in the middle...right??
  • #73
  • Aug 28, 2009 7:48am Aug 28, 2009 7:48am
Quoting rorieu
Chris
You have traded (and are trading?) both C4 and Nitro-renko. What advantages , if any, do you see with Nitro over the relatively 'conventional' C4 method

thanks
R
They are 2 very different ways to watch the PA and trade...
I'm not so experienced...but i've understood that with Renko...all indys are absolutely useless... when a brick has formed the PA already has done the move...and the indy only tells the same thing...
Renko is very good to see the overall trend...support and resistence and some patterns...
I really didn't saw Renko as a scalping method before Nitro...but Nitro is not only Renko... Nitro is Renko+JPY pairs+right hours to trade... is not Renko per se that works...is the conjunction of the factors...

C4 still remains a good way to scalp for a few pips...also in C4 thread some people still prefers to trade C4...that's not wrong...no doctor can tell you what you have to trade...just try and find what suits you better...

The sure thing is that Renko needs more practice and more experience...so it can be that the C4 training has been too short...simply take your time and try...

I'm trying to mix on my template Nitro and C4 too see what effectively suits me more...day by day...and for today i can say that i've had 5 clear signals on C4...for a total of 21 pips...so i would be done for the day..
On Nitro...for now...no good signals...but not all days are the same...
Market is like a puzzle, YOU have to fit the pieces!!
  • #74
  • Aug 28, 2009 7:50am Aug 28, 2009 7:50am
Quoting tex
Hi Chris,

back to indicator based trading ?
Hi Tex..

with Nitro no indicators...only PA...and MA (quite useless)

with C4 yes...as always Trix candles, Trix 6 for longer tem confirm and Lwma 8
Market is like a puzzle, YOU have to fit the pieces!!
  • #75
  • Aug 28, 2009 8:04am Aug 28, 2009 8:04am
Here some other trade...

I don't know if in this thread we can still talk about C4...let me know...but...why not?? The plan is the "Nitro father" and still viable..

The key remains your eye...you have to see when PA moves...indys are always a confirmation or an alert...
Attached Image (click to enlarge)
Click to Enlarge Name: 082809.gif Size: 70 KB
Market is like a puzzle, YOU have to fit the pieces!!
  • #76
  • Aug 28, 2009 8:32am Aug 28, 2009 8:32am
Quoting Chris_B
They are 2 very different ways to watch the PA and trade...
I'm not so experienced...but i've understood that with Renko...all indys are absolutely useless... when a brick has formed the PA already has done the move...and the indy only tells the same thing...
Renko is very good to see the overall trend...support and resistence and some patterns...
Hi Chris,
This is what I am trying. I attach a chart (not MT4) that shows HA candles 'inside' Renko. The thick black lines show where the Renko bricks would be. They are calculated using the Renko 'rules' for 10 pip bricks.

Maybe someone could code this for MT4 - I find it very interesting.

I like your comment on indicators for Renko. I came to the same conclusion some time ago - no one listened
Attached Image (click to enlarge)
Click to Enlarge Name: Spot FX EUR_JPY (28-AUG-09).png Size: 18 KB
  • #77
  • Aug 28, 2009 8:34am Aug 28, 2009 8:34am
Quoting kristjantelve
Yes and no. When making visual back test it may seams that it really filters out some of the bad trades but in reality that HMA changes color and it can not be 100% bullet proof thing for filters. The only filter it can provide is that wehter the price is above or below the line. One can easily trade without the line also. I have just kept it as for old time sake.

Regards

Kristjan
Kristjan,

The HMA may or may not have filtered some of the losers. But price action DEFINITELY would have filtered some of the losers. Let me know if you have any questions. (EDIT: DB = double bottom, LL = lower low, LH = lower high, HL = higher low, HH = higher high)

(SECOND EDIT: noticed a label didn't stay on the chart, added the corrected chart)
Attached Image (click to enlarge)
Click to Enlarge Name: näidis.gif Size: 66 KB
  • #78
  • Aug 28, 2009 8:40am Aug 28, 2009 8:40am
It's been ranging since yesterday. How do you think guys will it go south today?
  • #79
  • Aug 28, 2009 8:46am Aug 28, 2009 8:46am
Quoting bali2002
Resistance level touched for the 3rd time... price is long in all other pairs and momentum is high...
...if PA goes beyond the resistance line it's buying time

....or
momentum may go down and become a triple top, PA then falls below the support line and it's selling time!!

Am I ok?
Perfect! Important thing to consider: what are the pros vs. cons of entering right on the breakout, or waiting for a retrace to retest the previous support or resistance?
  • #80
  • Aug 28, 2009 8:56am Aug 28, 2009 8:56am
Mmmhh...I don't know

I guess if you enter on the breakout you're at the beginning of the trend and have less oportunities of missing it...

...but if you wait for a retrace you are more certain of the trend since its more established?

I'm shure there's much more about it i'm missing!!



Quoting asdf
Important thing to consider: what are the pros vs. cons of entering right on the breakout, or waiting for a retrace to retest the previous support or resistance?
0 traders viewing now