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Attachments: The CARMEN System Indicator
Exit Attachments

The CARMEN System Indicator

  • #661
  • Dec 10, 2009 7:19am Dec 10, 2009 7:19am
2
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  • #662
  • Dec 10, 2009 7:19am Dec 10, 2009 7:19am
3
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  • #663
  • Dec 10, 2009 7:52am Dec 10, 2009 7:52am
Quoting forexforex
3
Thanks for the pics ForexForex! I am glad to see you are doing so well and helping to prove the value of the Carmen Eyes system.

Can you give some specifics on exactly how you are trading this? What SL and TP. ANy filters. Do you exit one trade and just reenter in the opposite direction?

Thanks in advance for your help!

SirWolf
Believe and Achieve!
  • #664
  • Dec 10, 2009 7:53am Dec 10, 2009 7:53am
Quoting forexforex
3
Hey Forexforex,

Thanks for posting. I've been following this thread a while and am trialing the Carmen indicator as well - with some success. My questions to you are:

 

  1. Do you enter the moment the line crosses or wait till a new candle forms (still above when going long and still below when short)?
  2. How do you place your stops to try and not get stopped out when the market chops a little?

I've caught some good trends with Carmen but lately I do seem to be getting stopped out a fair bit and you seem to be having better success so I'd really appreciate your insight.

Many thanks,

Pushers

  • #665
  • Dec 10, 2009 8:25am Dec 10, 2009 8:25am
big down move on the USDCAD, this would be the best time to close your trade. A good time to re-enter would be if price breaks support line.
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  • #666
  • Dec 10, 2009 8:38am Dec 10, 2009 8:38am
Hi Aicccia,

Thank you for sharing your amazing indicator. I am still trying to understand it and trying out various settings, but so far it works well. You have obviously dedicated a lot of time and effort to the development of the carmen indicator and your generosity is most commendable. May all your trades be profitable and I wish for you every blessing!
  • #667
  • Dec 10, 2009 11:04am Dec 10, 2009 11:04am
Not sure I did this quite right but this was my trade on the GU this morning. It shows the potential although I bailed before it hit the bottom. This was on the one minute TF. Like others in this thread, I like the 30 minute too. There seems to be less false breakouts. I can see the potential of this indicator filtering it with fibonacci and strategic areas of support and resistance. I have been following this thread and many are using this indicator in different ways with positive results. I will keep reading and learning. Just a note. I never use indicators so this would be a change for me but so far I like it and the breakouts usually occur where a traditional fib level or s/r is being broken. Thanks Aicccia for this contribution and all your hard work.

PT
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Zone Breakout Method
  • #668
  • Dec 10, 2009 11:25am Dec 10, 2009 11:25am
Thanks. I read your comments about your trade intervals during market trading. You said you preffered 30 min. chart when trading. I want to ask: As an intraday trader who has just started trading, which charts are the most friendly for newbies?
  • #669
  • Dec 10, 2009 12:00pm Dec 10, 2009 12:00pm
Quoting forexforex
This is what happened today for me.
+66pips 1st crossover
+10pips 2nd crossover + 30pips @ reentry

Total: 106 pips

Wow impressive today..It has exceeded my target of 50pips/day.
Thanks again.
forexforex,

I was wondering why in the example in this post (645) you waited until what seems like the second or third 30 minute candle after we crossed the blue line to buy. Is there a filter you used to cause you to wait?

Thanks,
PT
Zone Breakout Method
  • #670
  • Edited 2:18pm Dec 10, 2009 1:31pm | Edited 2:18pm
Sorry for the question, but i want to know where i change the value for take profit (red and orange line in this indicator).

Regards,

Alex.
  • #671
  • Dec 10, 2009 1:40pm Dec 10, 2009 1:40pm
I usually wait until white line confirms the current trend as indicated by the white line and current price have crossed over and past the previous white line. This usually happens between 2nd and 3rd candle at the crossover. My point of Entry is usually at the 4th candle as it is passing the last white line.

Quoting PowerTrader
forexforex,

I was wondering why in the example in this post (645) you waited until what seems like the second or third 30 minute candle after we crossed the blue line to buy. Is there a filter you used to cause you to wait?

Thanks,
PT
Attached Image (click to enlarge)
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  • #672
  • Dec 10, 2009 1:51pm Dec 10, 2009 1:51pm
Quoting forexforex
I usually wait until white line confirms the current trend as indicated by the white line and current price have crossed over and past the previous white line. This usually happens between 2nd and 3rd candle at the crossover. My point of Entry is usually at the 4th candle as it is passing the last white line.

Thanks, I knew you had a good reason.

PT
Zone Breakout Method
  • #673
  • Dec 10, 2009 2:08pm Dec 10, 2009 2:08pm
Forexforex,

I was wondering what that second white line is? I know the one that follows price very closely is the 3ema but I don't know what the second one in your charts is.

Thanks

Mannai70
  • #674
  • Dec 10, 2009 2:22pm Dec 10, 2009 2:22pm
That blue line is a Carmens_eyes_v3.1 with the following settings:

It lags a little but after closing and opening the MT right after 30min expires (when forming a new candle), it gives you a better picture or perspective of the trend. I hope Aicccia will fix this also as we can use it as an early signal of change of trend for more profit. You can try using it and tell me what you will discover.

Quoting mannai70
Forexforex,

I was wondering what that second white line is? I know the one that follows price very closely is the 3ema but I don't know what the second one in your charts is.

Thanks

Mannai70
Attached Image (click to enlarge)
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  • #675
  • Dec 10, 2009 2:35pm Dec 10, 2009 2:35pm
Quoting forexforex
You can try using it and tell me what you will discover.

Hmm, strange with those setting I only have yellow line showing.

And top blue line is missing.
Viewer Discretion Advised: Shall we shag now or should we shag later? :-)
  • #676
  • Dec 10, 2009 2:40pm Dec 10, 2009 2:40pm
I normally don't trade this late.. But this is just an illustration of the point of entry. Although I went ahead and took the trade.
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  • #677
  • Dec 10, 2009 2:42pm Dec 10, 2009 2:42pm
Quoting SkyzerFX
Hmm, strange with those setting I only have yellow line showing.

And top blue line is missing.

same here with this settings only the yellow line appears
  • #678
  • Dec 10, 2009 2:52pm Dec 10, 2009 2:52pm
Out 1@ 1.6272. SL for the remaining 2 lots is triggered at break even point at the point of entry (it is late in the afternoon)

Quoting forexforex
I normally don't trade this late.. But this is just an illustration of the point of entry. Although I went ahead and took the trade.
  • #679
  • Dec 10, 2009 3:40pm Dec 10, 2009 3:40pm
+30 pips so far in this trade. I just let the other 1 lot remaining run and see what happens. Done for today.

Thanks again
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  • #680
  • Dec 10, 2009 5:41pm Dec 10, 2009 5:41pm
Quoting forexforex
+30 pips so far in this trade. I just let the other 1 lot remaining run and see what happens. Done for today.

Thanks again

nice trades
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