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Attachments: The CARMEN System Indicator
Exit Attachments

The CARMEN System Indicator

  • #681
  • Dec 10, 2009 6:03pm Dec 10, 2009 6:03pm
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.
Just not sure what you need Carmen for in Market like this?

Today whole day it's

flat EURUSD Pair doesn't even move, because there is sideways trading.

You can just buy low sell high. Without all those 1-2-3 . It's flat like

plywood.

Support--Resistance--Support--Resistance.. That's all. Look

it's flat for over 24 hours now.
Attached Image (click to enlarge)
Click to Enlarge Name: eu-flat.jpg Size: 105 KB
Viewer Discretion Advised: Shall we shag now or should we shag later? :-)
  • #682
  • Edited 8:03pm Dec 10, 2009 6:59pm | Edited 8:03pm
I have not tried Carmen for this currency. But I adjusted the Average to 4 and space 1 and this is what I got. You may have to adjust the space and average settings depending on the currency pairs and the momentum of the market.

Quoting SkyzerFX
Just not sure what you need Carmen for in Market like this?

Today whole day it's

flat EURUSD Pair doesn't even move, because there is sideways trading.

You can just buy low sell high. Without all those 1-2-3 . It's flat like

plywood.

Support--Resistance--Support--Resistance.. That's all. Look

it's flat for over 24 hours now.
Attached Image (click to enlarge)
Click to Enlarge Name: correct2.jpg Size: 138 KB
  • #683
  • Dec 10, 2009 7:36pm Dec 10, 2009 7:36pm
Hi aiccia and everyone,
These are my settings for the Carmen indicator when trading G/U:
Average : 3
Space : 1

The methodology that I am using may be unorthodox , but it works with my trading style. It is never my intention to indoctrinate anyone here. I am simply addressing one of the ways to trade Carmen. In the end, Aiccia has the final say on how this indicator should be used and I am just a follower .

Forexforex
  • #684
  • Dec 10, 2009 8:03pm Dec 10, 2009 8:03pm
can someone pls post the templates here? thanks!
  • #685
  • Dec 10, 2009 9:14pm Dec 10, 2009 9:14pm
Quoting forexforex
Hi aiccia and everyone,
These are my settings for the Carmen indicator when trading G/U:
Average : 3
Space : 1

The methodology that I am using may be unorthodox , but it works with my trading style. It is never my intention to indoctrinate anyone here. I am simply addressing one of the ways to trade Carmen. In the end, Aiccia has the final say on how this indicator should be used and I am just a follower .

Forexforex
Hi ForexForex,

I am new to this forum and have found Aiccia indicator useful. But i had some questions for you regarding his indicator.

Please take a look at the attached. There is a scenario where e white line is below the yellow and blue line and is at the 3rd candle. But however it went up shortly, how do we prevent that from happening?
And also what is the red and green line used for?

I just download from 1st page and used it on GBPUSD 30Mins TF... is it ok? i did not do any setting like what u mentioned above as i dont know how to do that setting...
Attached Image (click to enlarge)
Click to Enlarge Name: Carmen Queries.JPG Size: 102 KB
  • #686
  • Dec 10, 2009 10:22pm Dec 10, 2009 10:22pm
Quoting KPForex
Hi ForexForex,

I am new to this forum and have found Aiccia indicator useful. But i had some questions for you regarding his indicator.

Please take a look at the attached. There is a scenario where e white line is below the yellow and blue line and is at the 3rd candle. But however it went up shortly, how do we prevent that from happening?
And also what is the red and green line used for?

I just download from 1st page and used it on GBPUSD 30Mins TF... is it ok? i did not do any setting like what u mentioned above as i dont know how to do that...
I suggest you read the thread in it's entirety and all you questions will be answered.
  • #687
  • Dec 10, 2009 10:35pm Dec 10, 2009 10:35pm
In order for the 1st candle to be valid in the crossover it has to be a big push up or down. Secondly, if there are several candles before the the white line (3ma) crosses over, it indicates that it is just ranging...I usually don't take the trade. But I still watch for continuation or rejection by waiting for more than 3 candles to develop at the crossover.

If I had taken the the trade anyway, i would have accepted the loss. But i know that I would regain it back if I follow the methodology.
Attached Image
  • #688
  • Dec 10, 2009 11:00pm Dec 10, 2009 11:00pm
forexforex,

did you post a template earlier on today? if so I can't find it anymore.

Thanks
  • #689
  • Dec 10, 2009 11:25pm Dec 10, 2009 11:25pm
Quoting forexforex
In order for the 1st candle to be valid in the crossover it has to be a big push up or down. Secondly, if there are several candles before the the white line (3ma) crosses over, it indicates that it is just ranging...I usually don't take the trade. But I still watch for continuation or rejection by waiting for more than 3 candles to develop at the crossover.

If I had taken the the trade anyway, i would have accepted the loss. But i know that I would regain it back if I follow the methodology.
ic ic... so based on the indicator now, there is no trade right?

Btw, possible to explain to me what does the red and green line do? thanks in advance.
Attached Image (click to enlarge)
Click to Enlarge Name: carmen.JPG Size: 70 KB
  • #690
  • Dec 10, 2009 11:30pm Dec 10, 2009 11:30pm
Quoting forexforex
In order for the 1st candle to be valid in the crossover it has to be a big push up or down. Secondly, if there are several candles before the the white line (3ma) crosses over, it indicates that it is just ranging...I usually don't take the trade. But I still watch for continuation or rejection by waiting for more than 3 candles to develop at the crossover.

If I had taken the the trade anyway, i would have accepted the loss. But i know that I would regain it back if I follow the methodology.
Thanks for the free lesson forexforex. An obvious observation in hindsight, however I had not taken that into account, looking through the recent signals (this week) I notice that false signals occur when price is ranging.

Many thanks again, cheers
What you do is a reflection of you....what I do is a reflection of me.
  • #691
  • Dec 11, 2009 3:49am Dec 11, 2009 3:49am
I take extra precaution on reentries as it is risky to trade.
To be valid in an UPtrend:
1. Signal of trend continuation (HL Higher than previous Low white line) should occur.
2. Signs of testing the point of signal should occur
3. Point of entry should be above the Signal point after ONLY if testing occurred.

To be valid in an UPtrend:
1. Signal of trend continuation (LH Lower than previous High white line) should occur.
2. Signs of testing the point of signal should occur
3. Point of entry should be below the Signal point after ONLY if testing occurred.


Quoting KPForex
ic ic... so based on the indicator now, there is no trade right?

Btw, possible to explain to me what does the red and green line do? thanks in advance.
Attached Image (click to enlarge)
Click to Enlarge Name: reentry2.jpg Size: 81 KB
  • #692
  • Dec 11, 2009 7:16am Dec 11, 2009 7:16am
Hey forexforex.............what's that white line just above the carmen indicator?

thx,
todd
  • #693
  • Dec 11, 2009 8:34am Dec 11, 2009 8:34am
time to go short for GBPUSD?

See attached...
Attached Image (click to enlarge)
Click to Enlarge Name: carmen.JPG Size: 60 KB
  • #694
  • Dec 11, 2009 9:34am Dec 11, 2009 9:34am
hey guys, manage to get 10 pips out of it..

And now i am going in again at 1.6235 with short...

Anybody knows how to set the strategy as what forexforex did?

1) Enter 3 lots
2) TP for 1 lot when gain 10 pips
3) switch to BE for SL for e remaining 2 lots and set 20 pips for TP

i am using ibfx and trying it out on demo.. not sure how to set it... can only close the trades with 3 lots..
  • #695
  • Dec 11, 2009 10:51am Dec 11, 2009 10:51am
Hello everyone,

Another very good week with carmen. Profit improved with higher time frame trades (30 mins), but I still take the 1 min trade as well.

My advice to new people trading carmen, stick with 1 max 2 pairs. Trading GU alone is enough to pay the bills. I trade GU & EJ only because, GU leads, other follows....lol

Have a great weekened all...and thanks again aiccai for the great innovation...and looking forward to the new release. If the current release can be this good...I wonder how much more to expect....great things are ahead.
  • #696
  • Dec 11, 2009 12:00pm Dec 11, 2009 12:00pm
Hi Ibuks,

Do you trade Carmen the way Aicccia outlined in post 1 or do you have your own way?

Thanks in advance
  • #697
  • Dec 11, 2009 12:54pm Dec 11, 2009 12:54pm
Quoting mannai70
Hi Ibuks,

Do you trade Carmen the way Aicccia outlined in post 1 or do you have your own way?

Thanks in advance
Hi Mannai,

I follow the originator, as he knows the indicator inside out better than I do. Thats why I trade the 1 min ...but my main trades are from the 30 mins. I have more success following what the 30mins says using the 1 min. Something like using the 1 min for entry.

Play with it, find what suit u and am sure it works out the best dat way. I use the default settings, eventhough am also testing other settings suggested on this forum...but i find the default settings as the way to go for me, since that is what is recommended...and on GU.
  • #698
  • Dec 11, 2009 1:49pm Dec 11, 2009 1:49pm
I found something which looks similar to carmen, it's called dynamic range indicator.
was wondering, if there could be a relationship between the carmen code and this of the other one.
Attached Image (click to enlarge)
Click to Enlarge Name: 2009-12-11 20.47.gif Size: 72 KB
/ ... clarifying decisions ... /
  • #699
  • Dec 11, 2009 5:13pm Dec 11, 2009 5:13pm
where did you find this from?
  • #700
  • Dec 11, 2009 5:23pm Dec 11, 2009 5:23pm
Quoting walb99
I found something which looks similar to carmen, it's called dynamic range indicator.
was wondering, if there could be a relationship between the carmen code and this of the other one.
could you maybe post those indis please
thank you
regards
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