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  • #61
  • Edited 2:24pm Sep 7, 2009 1:39pm | Edited 2:24pm
Very Cool Cat!
How did you know that?
You must spend a lot of time on market analysis.

I often think that all you really need to trade long term is a few good correlation indicators etc.
DxTrade was supposed to be working on a meter type one, but with all the mess that was going on
with the C4 threads he may have given up on the project or kept it to himself.
Which I wouldn't blame him if he did.

Added another chart from dailyfx showing pairs relative to each other.
Only showing three on the screen shoot, but actually was able to add one more.
Not sure what limit if any the java script has.
Will have to remember this one, I never seem to have enough room to show more than on chart at a time on the screen so this will be very useful.
Attached Image(s) (click to enlarge)
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  • #62
  • Sep 7, 2009 3:27pm Sep 7, 2009 3:27pm
Quoting 45Fxguy
Very Cool Cat!
How did you know that?
You must spend a lot of time on market analysis.

...
Will have to remember this one, I never seem to have enough room to show more than on chart at a time on the screen so this will be very useful.
Whenever I am interested in something, I google it, and normally one of the links at a forex forum somewhere directs me to other links. Those I like the best I put in a separate category in my bookmarks for forex. I knew DailyFX did this, because when I go to a new site, I tend to play around with it to see if there is anything new or useful on the site to download or use regularly from the site. This I found useful at this site.

Then, whenever I find a pdf or word file that has something of interest, I put it in my downloads section of my hard drive in a forex file, and rummage through it to find good things. Helps me find things when my eclectic interests return to a subject, or help out a fellow trader .

I think DX did give up on the project, haven't seen him on the other C4 or nitro forums for a while. It's a shame, as he made some nice indicators. Not that many threads currently into scalping. So nice to have a place to talk a little about it.

Best wishes,

Cat Preacher
  • #63
  • Sep 7, 2009 3:41pm Sep 7, 2009 3:41pm
Quoting 45Fxguy
Hello Cat Preacher,

Thanks for all the info, a lot more to digest.
Below is a possible long trade example on uy m5 chart.
First signs price is on a continued upward move @ 1:45 the Ind-Fractals-LA indi shows a M15 slight reversal in PA, bottoming out if you will, & RSI candle is also marking it with the green center line, & price is moving up with and away from the EMA 45 line, plus the momentum line is moving up above the top red horizontal line of the BarScalper MACD..
iMax3alert is the trigger, if there is a sudden reverse signal of any of the...

Good results, your doing well.
Some questions for you.
Are you trying to let the good trades run at all?
Exploring your chart, it looks like you may be running 3,4 even 5 possible techniques.
Are you scared of being wrong? or are you scared of never being wrong again?
  • #64
  • Sep 7, 2009 4:21pm Sep 7, 2009 4:21pm
Quoting jacson101
Good results, your doing well.
Some questions for you.
Are you trying to let the good trades run at all?
Exploring your chart, it looks like you may be running 3,4 even 5 possible techniques.
Are you scared of being wrong? or are you scared of never being wrong again?
Hi Jacson, good to hear from you again.

I was wondering the same thing, hence my questions. Often it is better to add or subtract one thing at a time to see the change on your trading, otherwise you never know what worked, and what didn't. Personally, I only use a couple of indicators, and prefer pure price action. When I get too many indicators, I wait all day for things to line up perfectly, and I miss many good trades. When that happens, I back way off indicators, as I find that by their very nature, they do not predict what happens next, but only tell you what has happened.

Whereas with price action indicators, you see the tussle between buyers and sellers that happens over and over again - sort of like tracks in the sand or snow to see who is in control. Indicators seem to express that too, just slower.

Best wishes,

Cat Preacher
  • #65
  • Edited 5:02pm Sep 7, 2009 4:33pm | Edited 5:02pm
Quoting jacson101
Good results, your doing well.
Some questions for you.
Are you trying to let the good trades run at all?
Exploring your chart, it looks like you may be running 3,4 even 5 possible techniques.
Are you scared of being wrong? or are you scared of never being wrong again?
I'm not quite there yet, but this is where I'm trying to be, a few quotes taken from Trading in the Zone:,

"Most traders have absolutely no concept of what it means to be a
risk-taker in the way a successful trader thinks about risk. The best traders not only take the risk, they
have also learned to accept and embrace that risk. There is a huge psychological gap between assuming
you are a risk-taker because you put on trades and fully accepting the risks inherent in each trade."

"At the same time, the best traders have
developed attitudes that prevent them from getting reckless. Everyone else is afraid, to some degree or
another. When they're not afraid, they have the tendency to become reckless and to create the kind of
experience for themselves that will cause them to be afraid from that point on."

To answer your other question probably yes, but haven't really forwarded tested it that much yet, just mostly back test practicing in the simulator.
I could probably let the winners run longer following the RSI candles etc & let the multi trade managing ea close the trade at break even, +5 or 20 to 30 pips if the trend runs that long.
I do like to try & test a lot of different methods, indicators, systems, but this usually gets in the way of trading live so trying to buckle down, and just focus on one good system.

When I've forward tested a few more days I will post the Multi Trade Managing ea or a link to it's thread. Then upload my preset file for it & see if we can make improvements to it's settings.

& If CatPreacher has time, it would be great to see some screen shots.

Volume was extremely poor this afternoon, didn't feel good about placing even a demo trade. Guess that's to be expected on Labor day. Did anyone get in on any of the big moves this morning?
  • #66
  • Sep 7, 2009 4:42pm Sep 7, 2009 4:42pm
Quoting CatPreacher
Hi Jacson, good to hear from you again.

I was wondering the same thing, hence my questions. Often it is better to add or subtract one thing at a time to see the change on your trading, otherwise you never know what worked, and what didn't. Personally, I only use a couple of indicators, and prefer pure price action. When I get too many indicators, I wait all day for things to line up perfectly, and I miss many good trades. When that happens, I back way off indicators, as I find that by their very nature, they do not predict what happens next, but...
Indeed Cat,
Thank you for your insight and content.
Great stuff sir.
  • #67
  • Sep 7, 2009 4:43pm Sep 7, 2009 4:43pm
Quoting 45Fxguy
I'm not quite there yet, but this is where I'm trying to be, a few quotes taken from Trading in the Zone:,

"Most traders have absolutely no concept of what it means to be a
risk-taker in the way a successful trader thinks about risk. The best traders not only take the risk, they
have also learned to accept and embrace that risk. There is a huge psychological gap between assuming
you are a risk-taker because you put on trades and fully accepting the risks inherent in each trade."

"At the same time, the best traders have
developed attitudes that...
Good answer

Have a fun week ahead,
  • #68
  • Sep 7, 2009 6:26pm Sep 7, 2009 6:26pm
Quoting 45Fxguy
I'm not quite there yet, but this is where I'm trying to be, a few quotes taken from Trading in the Zone:,

"Most traders have absolutely no concept of what it means to be a
risk-taker in the way a successful trader thinks about risk. The best traders not only take the risk, they
have also learned to accept and embrace that risk. There is a huge psychological gap between assuming
you are a risk-taker because you put on trades and fully accepting the risks inherent in each trade."

"At the same time, the best traders have
developed attitudes that...
No didn't take any new positions.
Been fiddling around with volatility.
Here's a neat indicator.
Found it here: http://www.forexfactory.com/showthread.php?t=29207
Instructions are pretty simple also, green above grey take the trade.

My gut is telling me to do some work on this indi.
Attached File(s)
File Type: mq4 Damiani_volameter.mq4   3 KB | 638 downloads
  • #69
  • Sep 7, 2009 6:35pm Sep 7, 2009 6:35pm
Quoting jacson101
...
Been fiddling around with volatility.
Here's a neat indicator.
Found it here: ...
Instructions are pretty simple also, green above grey take the trade.

My gut is telling me to do some work on this indi.
Hi Jacson, I say, GO FOR IT! Let us know how it works for you. I've seen this before, but have never really tried it out.

Best wishes,

Cat Preacher
  • #70
  • Edited 8:04pm Sep 7, 2009 7:40pm | Edited 8:04pm
Quoting jacson101
No didn't take any new positions.
Been fiddling around with volatility.
Here's a neat indicator.
Found it here: http://www.forexfactory.com/showthread.php?t=29207
Instructions are pretty simple also, green above grey take the trade.

My gut is telling me to do some work on this indi.
I've used it once or twice before not sure how useful it is yet to me as a scalper since I love volatility.

PS:
From what I've seen so far those RSI candles I posted seem pretty accurate when used with regular candle sticks, so pretty surprised more traders don't use them.
Didn't see it downloaded even 1Xs yet.
  • #71
  • Edited 10:56pm Sep 7, 2009 9:54pm | Edited 10:56pm
Came across this breakout indi today which looks very good with RSI candles & the PA indi.
Makes for a very clean chart for those who like to keep it simple.
Not saying I really know how to use the JL lines yet, but if anyone else does please pip up.
Look at the 70+ pip potential in this screen shot.
Isn't it funny how you can miss a move like that when you have too much stuff on your charts.

Remember what DailyFx.com said about uy much earlier today on their SSI report?

Intraday Highlight:
USDJPY - The ratio of long to short positions in the USDJPY stands at 3.03 as nearly 75% of traders are long. Yesterday, the ratio was at 4.26 as 81% of open positions were long. In detail, long positions are 7.1% lower than yesterday and 16.0% stronger since last week. Short positions are 30.6% higher than yesterday and 23.5% stronger since last week. Open interest is 0.0% stronger than yesterday and 29.7% above its monthly average. The SSI is a contrarian indicator and signals more USDJPY losses.
Attached Image (click to enlarge)
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Attached File(s)
File Type: mq4 JL-Lines[1] any timeframe.mq4   3 KB | 703 downloads
  • #72
  • Sep 8, 2009 10:26am Sep 8, 2009 10:26am
I didn't have the chart zoomed in as I do in this screen shot, but notice how the very next candle after the one marked with the red star closed just slightly above the previous candle?

I did a counter trend trade based on that red star not seeing that it had already been fulfilled & cost me about 45 pips (live micro account) before I noticed my mistake.
Everything was telling me to sell at the time, dailyfx.com, swingman's renko signals, swingman's regualar signals, rsi candles etc, but I did it anyway.
I took & accepted the extra risk of a counter trend trade which I might have not done probably had I zoomed the chart all the way in before taking the trade.
Guess it's easy to get over confident with these PA stars after all the positive back testing results I got with them over the weekend, oh well lesson learned, I hope......

Maybe you all can confirm, is that red star open or closed?
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  • #73
  • Sep 9, 2009 1:18am Sep 9, 2009 1:18am
Quoting 45Fxguy
I didn't have the chart zoomed in as I do in this screen shot, but notice how the very next candle after the one marked with the red star closed just slightly above the previous candle?

......

Maybe you all can confirm, is that red star open or closed?
Hi 45,

Taking a look at this chart, I see several things from the portion shown. Looking at the red star where the blue arrow is underneath, which I assume is the bar you are discussing, I see that it is the second red star in three bars. I would not enter a trade based on a second red star, as price has already moved for 45 minutes (based on the time frame M15), and about 15 pips from the top of the first star at 15:45.

First this is a slow moving trade to only move 15 pips in 45 minutes. an average of about 1 pip every three minutes. It would make me wonder if it had enough momentum to go much farther. Obviously the bears were slowing the bulls, and except for the red star, not much evidence of strengthening momentum. In fact, with the small bar in between, good evidence of a struggle. The tail is above the bar on this small bar, and I probably would have raised my stop as close as possible to the bottom of this bar.

The bulls won for the red star to appear, but not before a long tail about at the half way point of the first red star, showing there was still significant bear movement. Probably clearing out stops.

I would have entered at the first red star (15:45) for two reasons.

 

  1. The red star in the opposite direction of the previous move; and
  2. The three consecutive down bars with the low of each bar lower than the previous bar, then a reversal above the last bar's high. This is a classical reversal pattern.

With a reversal bar following that second red star, opening above the previous close and closing below the previous open, I definitely would not wait long at all to get out.

As to whether this bar is open or closed, I would think it would be closed because of the wick of the subsequent bar.

Hope that helps some.

Best wishes,

Cat Preacher

  • #74
  • Edited 3:29pm Sep 9, 2009 2:34pm | Edited 3:29pm
Quoting CatPreacher
Hi 45,

Taking a look at this chart, I see several things from the portion shown. Looking at the red star where the blue arrow is underneath, which I assume is the bar you are discussing, I see that it is the second red star in three bars. I would not enter a trade based on a second red star, as price has already moved for 45 minutes (based on the time frame M15), and about 15 pips from the top of the first star at 15:45.

First this is a slow moving trade to only move 15 pips in 45 minutes. an average of about 1 pip every three minutes. It...
Thanks Cat,

Do you have a single favorite thread, system,, method, ea, indicator etc, that your currently using, either free or commercial?

I was looking at http://www.forexfactory.com/showthread.php?t=136321 today, I think his anchorfx_MRatio indi will go a long way in helping me to stop buying on peaks, and selling at the bottom of dips.
What do you think? Do you know one that can do better?

At least I thought it was in that thread, I know it's in one of forexlion's many threads.
As of right now he only has 78! Wow... I don't even have one yet. lol

Ok, I think it's on this one:
http://www.forexfactory.com/showthread.php?t=149531

Sometimes wish I could send an email to myself in the past.
Looks like some good pip moves where the PA crosses the time series indi line (primer?), & then they both cross the xpMA (trigger?). Maybe a scalper's dream if it can work that easily?

By the look of ASRI 4, & price near fib level +50, it would have been a great place to buy, yes?
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  • #75
  • Sep 9, 2009 3:51pm Sep 9, 2009 3:51pm
Another template I was working on today.
I really need to quit doing that mess.
I probably have a couple hundred already.
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  • #76
  • Sep 9, 2009 5:24pm Sep 9, 2009 5:24pm
A few months back while sifting through 'junk mail' yours truly read a press release put together by ICAP.
In this press release apart from the 'plugging of their wares' ICAP mentioned NDF activity in Asian currencies had picked up.

Ever inquisitive I kept it, having thought long and hard as to what exactly the other pimps, gimps and chimps( thanks MacroMan)were up to, via this reporting.
Alas, Absolutely NOTHING! Jacson was just getting 'high' on information.

Price action,
CNY's rally has eased as was to be expected although gov't intervention aka 'trading' has flatlined recently as of me writing this entry.Maybe, cause their busy buying silly IMF paper or maybe like any good warrior tribe the US. is just being a tad masochistic towards their own.
Who knows?
What Jacson does know is that it would really be silly to be betting on capital appreciation in the face of sky-high inflation. But waiting for the waves to settle down is just not my style.


Regards to all( just typing my thoughts by the way) and thanks.
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Attached File(s)
File Type: pdf 907NDFsNomura.pdf   21 KB | 461 downloads
  • #77
  • Edited 9:47pm Sep 9, 2009 7:15pm | Edited 9:47pm
Does anyone know of a very good Murry Math Line thread?

See how many times today cy touched just above the 5/8 "top of trading range", line and went back down today?

Just did it again, it had been trying to get above it all day, if it every really breaks through that level I wonder how high it will go?
Crystal ball indicator anyone?
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  • #78
  • Edited 12:50pm Sep 10, 2009 10:38am | Edited 12:50pm
I came up with this one last night after surfing the internet for new/old indicators.
Looks like it maybe very good at helping to filter out false c4 trix signals.
Will post template & indicators only if I receive enough request to do so via pm.

I also found a new/old asc trend indi which may act as an additional confirmation signal &/or virtual real time s/r levels.
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Attached File(s)
File Type: mq4 AscTrend2_2.mq4   7 KB | 540 downloads
  • #79
  • Sep 11, 2009 11:09am Sep 11, 2009 11:09am
Glade this is just a trading discussion area. Can more indis = more pips?
Just playing around with MTF indicators, I added multiple MTF signal bars to this chart which include, Stoch, CCI, and RSI, etc. to see what would happen.
Looks like some very high probability trade set ups when all the squares are either red or blue.
Will do more live forward testing next week.
Most MTF indis don't back test very well, but will probably try anyway this weekend.
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  • #80
  • Edited 7:32am Sep 12, 2009 12:11am | Edited 7:32am
Running a visual back test on an old ea tonight, & found it was using the awesome oscillator so had to give it a manual back test try myself in the posted simulator.
I back tested for the next closet market open day exactly one year ago.
Been having connection trouble with both my FXprime & MB trading demo accounts lately, wonder if that is happening to anyone else.
So had to switch mt4 demo brokers again.
Practice makes perfect, ten straight wins is the exercise,
& the more you do it the easier it gets.

Wonder if I can push my fx backtest exercise goal to 15 straight wins with the RWI indi.
http://www.forexrealm.com/technical-...alk-index.html
Attached Image (click to enlarge)
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Attached File(s)
File Type: mq4 RWI.mq4   4 KB | 645 downloads
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