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Fisher

  • #81
  • Sep 21, 2009 9:31am Sep 21, 2009 9:31am
Hi Jiva, I am following the EUR/USD, I see on the 15M a downtrend but 5M a 1M are in blue in the Fisher indicator. Would you have taken those entries on 1 or 5M or just waited for white signals to follow the trend? Thanks
  • #82
  • Sep 21, 2009 10:11am Sep 21, 2009 10:11am
Quoting Jeg
Hi Jiva, I am following the EUR/USD, I see on the 15M a downtrend but 5M a 1M are in blue in the Fisher indicator. Would you have taken those entries on 1 or 5M or just waited for white signals to follow the trend? Thanks
Am taking entry signals on 5m. It's easy to be always right using hindsight, but the signal for entry I would have considered looking at the charts as they are now would be the one with the vertical line through it.
from the looks of thing you would have had a great run.....
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  • #83
  • Sep 21, 2009 10:35am Sep 21, 2009 10:35am
new trade
fisher short signal 5m.
with a stop far enough way
tgt set at intersection of 200 ema and r1
I don't want to get too ahead of myself with trying to find entries on pullbacks when I've had such good success just waiting for the trend change, let me not get distracted from what has been working nicely
it's only the 5m, and the trends on a 5 min change several times per day...
If I have to wait, so what. Wait...
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  • #84
  • Sep 21, 2009 10:37am Sep 21, 2009 10:37am
I need to forget about looking for entries on pullbacks. I mean if it were the hourly chart or the daily chart, okay pullbacks, but let me get real here. This is the 5 minute chart!!!
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  • #85
  • Sep 21, 2009 10:44am Sep 21, 2009 10:44am
closed out early,
had a quick drop down
and probably a little retracing in order.
just didn't want to wait.
Maybe strategy should be for 10 pips, that's it..
If I got 10 pips in 2 mins everytime I entered a trade,
well, what's wrong with that? No hanging around. In and out.
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  • #86
  • Sep 21, 2009 10:45am Sep 21, 2009 10:45am
Nice thread and powerful indicator. I will begin using this today in a demo account.

I like how no new indicators have been added. Keeps things simple and if ain't broke, don't break it!

I do have two quick questions

I understand using the 200ema. It's a very powerful moving average on many timeframes. What I don't understand is the use of the other two moving averages. What benefit do they add? From the looks of things, they are not needed if Fisher generates the signals. If you want for Fisher to generate a signal and the other emas to cross, you will have probably missed the move. Can you explain how you use the other two moving averages and if they are truly needed.

My second question is, how often do you refresh your chart? From what I've read, Fisher repaints but not badly. From my point of view, it does not seem to be a problem. I honestly could care less if it repaints because when the signal was generated, that's what was happening on that chart at that time. If it's giving good signals, the repainting issue is of no concern? How often do you refresh your chart and have you thought about not refreshing your chart and just letting it run and seeing if the signals still are good?
  • #87
  • Sep 21, 2009 11:22am Sep 21, 2009 11:22am
Quoting Siuol
Nice thread and powerful indicator....

Great to hear from you. Glad to hear you find the thread helpful.
looks like we are on the same page...

you're right, the other 2 ma's, the 13 and the 25 are really not needed.
I guess it's just an overall visual thing for me. Gives me a kind of orientation for price action. Like trees in the background of a portrait. No signal relevance at all. just a kind of general orientation. Maybe it's a "baby blanky"
have tried dumping them but felt uneasy.

The repainting for fisher is very minimal. Not coo coo like some other indis. I keep an eye on it, but it has not made 1 iota of difference.

And yes, it is a breath of fresh air to not have a zillion indicators going every which way and bells ringing like 4 alarm fires...

Catchy little trader saying I heard recently really sticks with me, "If a person has a clock they know what time it is, if they have 2 clocks they're not sure what time it is." Sounds like trader's zen...

Although I would like to have a sound alert function for a cross of the zero line. Maybe someone who knows coding will take compassion and put one together. I'm tempted to try to figure out how to do it when it's quiet in the market.

about not refreshing the charts in order to compare. The few times I've done that there were very minimal differences. Nothing significant. Not enough to invalidate a signal or even give a false signal. Mostly the coloration differences. That is partly why I use magenta for below zero, so any repainting will show up and I can monitor it. Also because I like magenta...

Please keep the thread posted on your efforts. Good and bad, we can learn something...

best wishes
jiva34

I was considering how real teachers do not charge a fee. That way the knowledge can be passed along without corruption....If a student is also a customer, there is a conflict of interest....
Whatever I have learned of any value has come from teachers who did not ask anything of me.....except my attention...
just a thought.
__________________
  • #88
  • Sep 21, 2009 11:29am Sep 21, 2009 11:29am
beautiful method, good results ...
Congratulations on study work and dedication ...
thanks for sharing with everyone ...

please could put back the latest version of your bookmarks ...

thanks
  • #89
  • Sep 21, 2009 11:31am Sep 21, 2009 11:31am
just as I thought,
USDCAD went into consolidation after that move down.
it may be that the chart to watch for a signal would be the 15 min.
but it would have to be the 2nd bar below 0 and that would be no less than 30 mins away.
better to stick with the 5 min chart and just follow several pairs...
no signal 5 min no trade.
maintain the discipline.... the strategy has proven itself good over and over, learn patience...
If it's worth having it's worth waiting for...
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  • #90
  • Sep 21, 2009 11:36am Sep 21, 2009 11:36am
Thanks for answering my questions. I also want to comment on something you said in a previous post. I trade the 5min chart. I always target 10 pips. I know some people will disagree with this but I'm confident in my ability to pull 10 pips out of the market. I'm not as confident when trying to pull 50 or 100.

I used to try to hit the homeruns and it killed me. Once I started using proper money management (never risking more then 2% on a trade) and targeting 10 pips per trade, my trading results increased greatly. I made 2 trades today (live account) and walked away with 20 pips, which is equal to 2% of my capital. At one point and time I got sidetracked on why I began trading forex...to make money. If I can get 20 pips out of the market each day (on average) I can live very well. Getting 10 pips on my winners makes me more than happy enough. It allows for stressfree trading.

Quoting jiva34
Great to hear from you. Glad to hear you find the thread helpful.
looks like we are on the same page...

you're right, the other 2 ma's, the 13 and the 25 are really not needed.
I guess it's just an overall visual thing for me. Gives me a kind of orientation for price action. Like trees in the background of a portrait. No signal relevance at all. just a kind of general orientation. Maybe it's a "baby blanky"
have tried dumping them but felt uneasy.

The repainting for fisher is very minimal. Not coo coo like some other...
  • #91
  • Sep 21, 2009 11:55am Sep 21, 2009 11:55am
Quoting Siuol
Thanks for answering my questions....
You are a wise person. I know the truth of what you are saying.. Now I have to live it.
It is funny how I know something to be true but faced with a situation I will go against the true understanding. That somehow this time "The law of gravity will be defied" just for me.. greed, greed, greed. What an amazing phenomenon. A blinding effect, make bad decision, then kicking afterwards. Oh, all my money is gone...
I am determined to learn discipline. I will learn. I am learning. Thank you.

jiva34

The 5 min will easily give 10 pips on a good signal.
  • #92
  • Sep 21, 2009 12:03pm Sep 21, 2009 12:03pm
You will get to where you want to be when it comes to being disciplined. It takes time. For me, I just got tired of seeing 10 pip winners turn into losers. Trust me, once you get to the level you want for discipline, you will be rewarded greatly.

Like you said, the signals are good. I agree that watching multiple pairs on the 5min is the way to go. I'm not worried about the pullbacks. On a 5min chart, there will be many changes in trend direction for you to capitalize off of. I'm just going to wait for the trend to change and enter. I want my trading to be as simple as possible.

Quoting jiva34
You are a wise person. I know the truth of what you are saying.. Now I have to live it.
It is funny how I know something to be true but faced with a situation I will go against the true understanding. That somehow this time "The law of gravity will be defied" just for me.. greed, greed, greed. What an amazing phenomenon. A blinding effect, make bad decision, then kicking afterwards. Oh, all my money is gone...
I am determined to learn discipline. I will learn. I am learning. Thank you.

jiva34...
  • #93
  • Sep 21, 2009 12:14pm Sep 21, 2009 12:14pm
Quoting Siuol
You will get to where you want to be when it comes to being disciplined....
Next trade I post, I post for you.
10 pips. 5min.

question: How do you calculate your stop? Is it also 10 pips or do you consider your trades hi probability trades and let your stops be more than 10 pips.
  • #94
  • Sep 21, 2009 12:14pm Sep 21, 2009 12:14pm
maybe setting up... 5 min
  • #95
  • Sep 21, 2009 12:26pm Sep 21, 2009 12:26pm
testing 200 ema
no signal yet
setting up?
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  • #96
  • Sep 21, 2009 12:35pm Sep 21, 2009 12:35pm
gbpusd short signal 5 min
10 pip tgt
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  • #97
  • Sep 21, 2009 12:37pm Sep 21, 2009 12:37pm
Here is where many people will bash me but I know what works for me. I use a stop loss of 20 pips. This allows me to not get stopped out prematurely on normal market swings. With targeting 10 pips, I'm winning between 70-75% of my trades. I try to have a high hit rate and limit my exposure in the market. In doing so, I'm rarely stopped out for the full 20 pips. As price moves in my favor, I do move my stop to protect profits an minimize my risk.

Quoting jiva34
Next trade I post, I post for you.
10 pips. 5min.

question: How do you calculate your stop? Is it also 10 pips or do you consider your trades hi probability trades and let your stops be more than 10 pips.
  • #98
  • Sep 21, 2009 12:51pm Sep 21, 2009 12:51pm
Quoting Siuol
Here is where many people will bash me but I know what works for me. I use a stop loss of 20 pips. This allows me to not get stopped out prematurely on normal market swings. With targeting 10 pips, I'm winning between 70-75% of my trades. I try to have a high hit rate and limit my exposure in the market. In doing so, I'm rarely stopped out for the full 20 pips. As price moves in my favor, I do move my stop to protect profits an minimize my risk.
That is an acceptable strategy I've heard discussed by professionals. It is called "hi probablity trading". The frequency of successes offsets the larger risk.

Makes sense like that.

The other type of trading I heard discussed was "hi profitability trading" and the stops are set exactly opposite. Because those trades aim at catching the one really big move, they set the stop seriously close and prepare to take lots of very small losses until they are into that one big trade.

Also an acceptable strategy.
  • #99
  • Sep 21, 2009 12:55pm Sep 21, 2009 12:55pm
Glad you understand. Yes, both strategies are profitable. People who can successfully pull 5 pips out of trade on one standard lot at a 65-70% hit rate would see that they probably can pull 3 pips out of the market with two standard lots at an even higher hit rate.

Quoting jiva34
That is an acceptable strategy I've heard discussed by professionals. It is called "hi probablity trading". The frequency of successes offsets the larger risk.

Makes sense like that.

The other type of trading I heard discussed was "hi profitability trading" and the stops are set exactly opposite. Because those trades aim at catching the one really big move, they set the stop seriously close and prepare to take lots of very small losses until they are into that one big trade.

Also an acceptable...
  • #100
  • Sep 21, 2009 12:59pm Sep 21, 2009 12:59pm
got stopped out
not right time of day?
stop too close?
no real trend action, more of consolidation pattern?

price action hovering around the 200ema.

the original sell signal is now repainting to buy.
will be interesting to see if the downside resumes and then the signal repaints again to sell.

Glad this still just the demo...
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