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  • #661
  • Sep 24, 2009 9:12am Sep 24, 2009 9:12am
Quoting GrZack
Hi Brian,

thx for the question. I'm working on it. It has a little bug, I think... (not confirmed yet). I tried several combinations of the settings which means how many trade does it perform per day. On the first day, there was 7 trades. Now, it did 15 winners + 2 loosers / day approx. The "bug" causing the losses, this is not a question, but I still don't know that the fish indi is the main problem, or the condition is not correct/complete yet.

Version1 : total failure
Version2 : can make consistent profit, with the "BUG".
Version3...

Hi GrZack,

I was wondering how things go with your project.
Did you already solved the bug?

Regards,
  • #662
  • Edited 11:58am Sep 24, 2009 11:37am | Edited 11:58am
I came across this post and thought it might benefit Nitro traders. It comes from Clockwork71 and his Silent Service thread (a great thread by the way, very similar to how I trade). This relative strength concept is unique to forex, and one that I had not considered but will definitely incorporate into my own trading. How does this apply to Nitro? Because GJ and EJ are key pairs in this system, when they are both moving in correlation, the EUR/GBP may provide further indication as to which is the strongest of the two. Hope it helps.

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

"One thing that looks obvious to me now, but not when I started was this: All pairs have a function. Not all are trader-friendly, but they all mean something.

Some pairs like EUR/USD are very, very liquid and are great for trading. Low spreads are typical, and it tends to move like an instrument that's traded by everyone. (As you would expect.)

However, there are some other pairs that most of us ignore. One that I hardly ever trade is the AUD/NZD pair. However, it is always up on my platform. I find it to be one of the most useful pairs I watch. (I watch, not trade....typically.)

I don't like the action on this pair, the spread sucks, and choppy would be putting it mildly. So what do I use it for?

Relative Strength.

Let's take a common example. Let's say that we are getting a long signal on both the NZD/USD and AUD/USD pair at the same time. This wouldn't be a surprise, as these two pairs tend to move in tandem. (A lot like the XXX/JPY pairs.) They are both driven by similar forces. So which one do you take?

Pull up a AUD/NZD chart. It is this chart that will show you which one is stronger. If the AUD is gaining on the NZD, it stands to reason that it should

You want to buy the strongest currency, and short the weakest. Of course the NZD/USD could go up as well, but normally will not get as far as the AUD/USD. (In these situations.)

Just a thought.

CW"

(http://www.forexfactory.com/showpost...&postcount=426)
  • #663
  • Sep 24, 2009 11:57am Sep 24, 2009 11:57am
I downloaded the indicatros in the first post but they dont seem to match all the charts that everyone posts.. well at least not the candles, is there another place i can download the indicators from ???

thanks!!

Quoting 4xStar
Post #1 of this thread should give you all the information you need to trade it .. the other thread is just past history, however some good things there include the numerous 'pep talks' and often scoldings from Edge, who first introduced us to this lucrative method of trading.
  • #664
  • Sep 24, 2009 1:31pm Sep 24, 2009 1:31pm
did you install a RENKO script?

Quoting acereto
I downloaded the indicatros in the first post but they dont seem to match all the charts that everyone posts.. well at least not the candles, is there another place i can download the indicators from ???

thanks!!
  • #665
  • Sep 24, 2009 2:00pm Sep 24, 2009 2:00pm
Very interesting
Thanks!

Quoting asdf
I came across this post and thought it might benefit Nitro traders. It comes from Clockwork71 and his Silent Service thread (a great thread by the way, very similar to how I trade). This relative strength concept is unique to forex, and one that I had not considered but will definitely incorporate into my own trading. How does this apply to Nitro? Because GJ and EJ are key pairs in this system, when they are both moving in correlation, the EUR/GBP may provide further indication as to which is the strongest of the two. Hope it helps.

---------------...
  • #666
  • Sep 24, 2009 5:42pm Sep 24, 2009 5:42pm
nope.. where can i get the renko script ??? and how do i install it ??

thanks!!

Quoting bali2002
did you install a RENKO script?
  • #667
  • Sep 24, 2009 8:07pm Sep 24, 2009 8:07pm
Still not trading, busy organising a big event for this weekend. Just watched this mornings action before I left, Once both the gbp and eur closed their blocks below the 99.95 then the eur was good for at least an 18 pip move.
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  • #668
  • Sep 25, 2009 9:57am Sep 25, 2009 9:57am
Pips there for the taking
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  • #669
  • Sep 25, 2009 10:08am Sep 25, 2009 10:08am
There's been a huge (+300 pips) down movement on most the JPY pairs.

Anybody knows why?
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  • #670
  • Sep 25, 2009 10:47am Sep 25, 2009 10:47am
Don't know why but should have seen it coming though since I sometimes run backtest at night on ey when the market slows down in the evenings, to one year ago to the date of the next market opening day.
I switched to trading usd pairs again this morning since I didn't see much price movement when I opened my yen charts. I think nitro works equally well on those pairs too with correlation so now I almost always have some fx stuff to do.


Quoting bali2002
There's been a huge (+300 pips) down movement on most the JPY pairs.

Anybody knows why?
  • #671
  • Sep 28, 2009 8:02pm Sep 28, 2009 8:02pm
I apologise for the absence, had a big event to organise for last weekend, but back trading again.

The eur had closed it's block at 131.25 with the MI below 99.95 so waited for the gbp to do the same (aud was following down). When the gbp closed it's block at 142.65 I placed the Sell. On Oanda it went in at 131.20 and took profit at 131.13. Trade lasted 2 min 10 seconds.

Price actually only went 10 pips from my entry so quite happy with my "Less is more" +7.
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  • #672
  • Sep 29, 2009 12:38am Sep 29, 2009 12:38am
Quoting DaveW
Still not trading, busy organising a big event for this weekend. Just watched this mornings action before I left, Once both the gbp and eur closed their blocks below the 99.95 then the eur was good for at least an 18 pip move.
Hey Dave, love you posts, thanks man. Is there any reason you haven't gone for a 100 mom line? Have you found your setup more benefitial to have it close over 100.05/99.95?
  • #673
  • Sep 29, 2009 1:26am Sep 29, 2009 1:26am
Guys, I'm really amazed with nitro. I am amazed at how quickly the system falls away and one can begin to trade in the zone. I get the feeling a lot of you guys have also touched on this experience with it. This video is talks about the zone, its a great watch just bare with it for the first few minutes.


The elements of flow (from wikipedia):

  1. Clear goals (expectations and rules are discernible and goals are attainable and align appropriately with one's skill set and abilities). Moreover, the challenge level and skill level should both be high.[2]
  2. Concentrating and focusing, a high degree of concentration on a limited field of attention (a person engaged in the activity will have the opportunity to focus and to delve deeply into it).
  3. A loss of the feeling of self-consciousness, the merging of action and awareness.
  4. Distorted sense of time, one's subjective experience of time is altered.
  5. Direct and immediate feedback (successes and failures in the course of the activity are apparent, so that behavior can be adjusted as needed).
  6. Balance between ability level and challenge (the activity is neither too easy nor too difficult).
  7. A sense of personal control over the situation or activity.
  8. The activity is intrinsically rewarding, so there is an effortlessness of action.
  9. People become absorbed in their activity, and focus of awareness is narrowed down to the activity itself, action awareness merging.

Inserted Video
  • #674
  • Sep 29, 2009 2:16am Sep 29, 2009 2:16am
I haven't posted for a while. Here's a quick 7 pips on E/J right at the London opening. Price stalled a bit and I was being cautious, but it easily got to 10 pips which is what my TP is set to by default.

Do I assume that the quietness of the thread means everyone is too busy making money?
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  • #675
  • Sep 29, 2009 2:18am Sep 29, 2009 2:18am
BTW, I'm now using Oanda for live trading and just a MT4 demo for charting. Thanks to DaveW for that. I really like Oanda's execution.
  • #676
  • Sep 29, 2009 3:02am Sep 29, 2009 3:02am
Missed the tail end of Frankfurt so had to wait for the Brits to finish their cup of tea but got in at 131.34 and out at 131.27 for +7 pips. Had to work for a whole 8 mins this time - need a nap now.

Hi Slushfund. There are still a few of us oldies around. I have been busy for the last week but at it again full time. Oanda might not be the bee's knees if you are trading the News but for our sort of trading it suits me down to the ground. Spread on the eur/jpy is only 2.4 and if you wanted to trade the gbp/jpy (which I don't like) it is only 3.8 pips.

The good thing with Oanda is that once you are constanly making succesful trades it is easy to compound, increasing the units you place on a trade to exactly your risk %age. I just made a small spreadsheet which I look at after each trade is complete and fill in the units on the trade box ready for the next one, that way I don't forget. I also leave the t/p and s/l blank so when I do press the button and the action is swift, by the time I pull up the Oanda box it has already run past my +7 and I close it at whatever seems good. if not then I set the t/p and s/l at that time. All the fancy stuff, trailing stops, resetting to B/E, etc. I leave to the experts as I notice that half the time I would have sat for an hour to get out at B/E. I would rather have the "Less" and patiently wait for it to become "More"

Best of luck with your trading.

Regards

Dave W
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  • #677
  • Sep 29, 2009 3:24am Sep 29, 2009 3:24am
Quoting Ferrari
Hey Dave, love you posts, thanks man. Is there any reason you haven't gone for a 100 mom line? Have you found your setup more benefitial to have it close over 100.05/99.95?

Hi Ferrari

I have found that often the Mom will dip down to the 99.95 or climb to the 100.05 before retracing. The moves with momentum behind them will cause the Mom to climb/fall above/below these levels and when the block closes with the Mom above/below is the time to trade (if the correlation is good). All down to patience, observation, trial and error and mostly being tuned in to the behaviour of the three (in my case) pairs that I am monitoring.

Often the eur will close above/below and you simply wait for the gbp. When that starts moving and completes it's block the momentum usually drags the eur along with it sufficient to get you +7 pips.

On the face of it you could possibly write an ea to save you the trouble of having to hit a buy/sell button 4 times a day. However, an ea cannot differentiate between a hesitant move and a positive move, nor decide whether to take profit at +7, +14 or +2 by taking into account the type of PA.

A couple of hours a day to make 2-4% doesn't seem much of a hardship. Once you reach the giddy heights of $20,000 in your account you should be making $400 - $800 a day, enough to live on if you keep it simple. You would have enough time to grow your own veggies, keep a couple of cows for their milk and meat and use the manure to power your eco-friendly ferrari (you need a conversion kit).

Best of Luck

Regards

DaveW
  • #678
  • Sep 29, 2009 3:30am Sep 29, 2009 3:30am
Quoting DaveW
You would have enough time to grow your own veggies, keep a couple of cows for their milk and meat and use the manure to power your eco-friendly ferrari (you need a conversion kit).
Thanks for the reply Dave!

I got that covered - the Ferrari Biofuel

Attached Image


ea? no way! i really enjoy trading in the zone!
  • #679
  • Sep 29, 2009 3:30am Sep 29, 2009 3:30am
Here is my template as requested. I don't have the mql for the Mi, the eq seems to work fine on my setup.
Attached File(s)
File Type: ex4 IndexedMomentumK.ex4   5 KB | 670 downloads
File Type: tpl 1 edge.tpl   4 KB | 695 downloads
  • #680
  • Sep 29, 2009 3:32am Sep 29, 2009 3:32am
Quoting Ferrari
Thanks for the reply Dave!

I got that covered - the Ferrari Biofuel

Attachment

ea? no way! i really enjoy trading in the zone!

Do they do those things in matching pairs?
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