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ICCE. Bemac's Fib. Reverse Engineered

  • #1,101
  • Jan 8, 2010 9:10pm Jan 8, 2010 9:10pm
Quoting ak4x
While on the subject of S/R... horrizontal, slanted and otherwise...

One of the posts that turned my head some time back...

http://www.forexfactory.com/showpost...ostcount=39769


Still does now that I read it again for the umpteenth time.
Hey, like, your a Hoser, eh. Like you probably like Hockey as well eh?
http://www.forexfactory.com/showpost...ostcount=39780
  • #1,102
  • Jan 9, 2010 2:56pm Jan 9, 2010 2:56pm
Seriously; & I know which thread I'm in;
You have a choice.
Your Account
OR
an Account Traded by others thoughts,

There is a way.

It's about making your own deciscions.

This thread has it's uses but, If I mayask, Check How Long the Persn you are taking advice from has been a Member.

It may not be an indication of their knowledge but it might help you advance.

I know I have contributed here before but it was usually along the lines of;
"You may want to rethink that advice."

This Thread is neccessary beacause it trans people in Venting without thinking.

Apologies to all those that believe they have actually done something here. This Thread is but a stepping stone for those that want to grow.

All Hail The Arrows.

It is my beliefe that you survive based on the Number of resposes to this thread. That doesn't make it worthwhile reading.

There are, for those that are interested, some other Threads dealing with the same subject.

In hopes that we All advance.
BMc.
  • #1,103
  • Jan 10, 2010 11:18pm Jan 10, 2010 11:18pm
Trades are progressing as I had hoped (I don't expect to be correct everytime).
Posted 1Hr TF Charts to help explain why I moved my SL to where I did.
I'm not using "Bemac Trade Manager" on these Trades as that is a different subject.

AUDUSD
Currently + 125Pips. SL moved @ 0.92250 Profit lock of 41Pips.
Attached Image (click to enlarge)
Click to Enlarge Name: bmc audusd 1hr.gif Size: 37 KB


USDCHF
Currently + 142Pips. SL moved @ 1.0200 Profit lock of 51Pips.
Attached Image (click to enlarge)
Click to Enlarge Name: bmc usdchf 1hr.gif Size: 40 KB


I did take note that My Indicators seem to be reaching the Turning point in this (1Hr) TF BUT, I am Trading the Daily TF. Not the 1 Hour.
Check out how they look in the Daily.

AUDUSD
Attached Image (click to enlarge)
Click to Enlarge Name: bmc audusd daily 2.gif Size: 52 KB


USDCHF
Attached Image (click to enlarge)
Click to Enlarge Name: bmc usdchf daily 4.gif Size: 56 KB


In the last week, I did nothing but ensure I didn't have to adjust positions. No stress, no sweat & metric tonne o' time to do the other things I wanted to.

At full Lots (I know that is not where most of us Trading) that would be a nice Monthly Income of ~ $8,000.00 "This Week"

It does equate to ~ 1% of a $25,000.00 Demo account (currently + $240.00) Trading Minis (0.10 Lots) though. And that aint bad.
  • #1,104
  • Jan 13, 2010 6:19pm Jan 13, 2010 6:19pm
Quoting Bemac
Trades are progressing as I had hoped (I don't expect to be correct everytime).
Posted 1Hr TF Charts to help explain why I moved my SL to where I did.
I'm not using "Bemac Trade Manager" on these Trades as that is a different subject.

AUDUSD
Currently + 125Pips. SL moved @ 0.92250 Profit lock of 41Pips.
Attachment

USDCHF
Currently + 142Pips. SL moved @ 1.0200 Profit lock of 51Pips.
Attachment

I did take note that My Indicators seem to be reaching the Turning point in this (1Hr) TF BUT, I am Trading the Daily TF. Not...
Very nice trading! Attached is a chart I've been watching since December on the EURUSD daily. I'm not sure I have the channel exactly where it needs to be but it did touch the top of the channel twice after the "breakout" on January 10th so I think the top is close

Attached Image (click to enlarge)
Click to Enlarge Name: eu_011310.gif Size: 26 KB


I thought initially this might dip back in but it looks like it is regrouping to continue the upward movement to ~1.4757 eventually, we'll see! Take all of this with a grain of salt as always.

Mike
  • #1,105
  • Jan 13, 2010 9:06pm Jan 13, 2010 9:06pm
As I have said before.
Watch for those rejections.
There's a bunch of reasons but the fact that the 23 % @ 1.3690 appears to have been rejected makes it look like the Price @ ~ 1.4792 is a Target. (1.53xx if that doesn't hold)

I'm still Trading based on this.
Attached Image (click to enlarge)
Click to Enlarge Name: bmc eurusd daily 6.gif Size: 35 KB

But you have brought another Dancer to the Party that I will have to investigate.
  • #1,106
  • Jan 13, 2010 9:39pm Jan 13, 2010 9:39pm
Quoting xtensive
Very nice trading! Attached is a chart I've been watching since December on the EURUSD daily. I'm not sure I have the channel exactly where it needs to be but it did touch the top of the channel twice after the "breakout" on January 10th so I think the top is close ...
I think I drew just about the same channel, here on H8.

Edit: why does my chart look like crap? Does it look that way to you too?
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd h8 icce 13jan10.gif Size: 24 KB
  • #1,107
  • Jan 14, 2010 8:00am Jan 14, 2010 8:00am
Hi guys i don't know if it is a good mod for you:i have added a little function to recall the init in the start()...So now the indi refresh itself when the lines are changed manually without changing timeframes.Bye bye
Attached File(s)
File Type: mq4 ICCEv3mod.mq4   36 KB | 649 downloads
  • #1,108
  • Jan 14, 2010 9:37am Jan 14, 2010 9:37am
Quoting TradeWell
I think I drew just about the same channel, here on H8.

Edit: why does my chart look like crap? Does it look that way to you too?
Yep, that looks very close to the channel I've got. What do you mean your chart looks like crap?

Mike
  • #1,109
  • Jan 14, 2010 10:30am Jan 14, 2010 10:30am
Quoting xtensive
Yep, that looks very close to the channel I've got. What do you mean your chart looks like crap?

Mike
Maybe it's my computer but it looks kind of a ugly fluorescent blue. When I make it full screen it's ok.
  • #1,110
  • Jan 14, 2010 4:07pm Jan 14, 2010 4:07pm
very cool trick! learn something new every day :-)

Quoting leledc
Hi guys i don't know if it is a good mod for you:i have added a little function to recall the init in the start()...So now the indi refresh itself when the lines are changed manually without changing timeframes.Bye bye
  • #1,111
  • Jan 15, 2010 3:54am Jan 15, 2010 3:54am
Quoting MissPips
very cool trick! learn something new every day :-)
I'm very pleasure that you like it!!!Good trading
  • #1,112
  • Jan 15, 2010 5:57am Jan 15, 2010 5:57am
Quoting leledc
Hi guys i don't know if it is a good mod for you:i have added a little function to recall the init in the start()...So now the indi refresh itself when the lines are changed manually without changing timeframes.Bye bye
great lele
  • #1,113
  • Jan 18, 2010 7:55pm Jan 18, 2010 7:55pm
Posted elsewhere...

SOaB.
Overstepped my confidence & tightened my Stop a little to'o' much. (the second 'o' was for Jay )
Stopped out @ 1.0250
http://www.james16group.us/forums/at...1&d=1263857800
Saved some sweat but not any $ in the aftermath.
Got back in: Same Direction. Short.
http://www.james16group.us/forums/at...1&d=1263857640

Still Holding & my Agent loves me. Paid 2 Commissions on the same Trade. http://www.james16group.us/forums/im...dern/glare.gif
  • #1,114
  • Jan 20, 2010 12:00pm Jan 20, 2010 12:00pm
After a brief fake-out to the top (that was not a very good fake-out to be honest, look at those upper wicks!) we dropped back in the channel, and usually when that happens the next break is fast and furious. Behold!

Attached Image (click to enlarge)
Click to Enlarge Name: eu_012010.gif Size: 26 KB


Mike
  • #1,115
  • Jan 20, 2010 1:06pm Jan 20, 2010 1:06pm
Quoting xtensive
After a brief fake-out to the top (that was not a very good fake-out to be honest, look at those upper wicks!) we dropped back in the channel, and usually when that happens the next break is fast and furious. Behold!

Attachment

Mike
Nice observation Mike.
Hopefully you got some additional cargo from it.

Beware "The Shadow(s)"

Personally I got my butt kicked on the USDCHF but I had my SL set at how much I was willing to risk.
(I was Short) Time to re-anylize & Re-set.

If I may offer a word of Caution... (please Trade as YOU see it)
There is a possibility it will break Your (posted) next support but I see another Supp. line not visible on your chart.
Attached Image (click to enlarge)
Click to Enlarge Name: bmc eurusd daily 8.gif Size: 27 KB

Weekly
Attached Image (click to enlarge)
Click to Enlarge Name: bmc eurusd wkly 15.gif Size: 34 KB
  • #1,116
  • Jan 20, 2010 1:18pm Jan 20, 2010 1:18pm
Quoting Bemac
If I may offer a word of Caution... (please Trade as YOU see it)
Thanks for the heads up! I've been trading very small lots on the daily charts because of days like today where you can get hammered pretty hard if you "guess" wrong. I did take a hit when it dropped back in the channel on the 15th because it dropped pretty quick and surprised me after the testing of the upper side so many times the week before, I though I was a bit safer. Once it is back in the channel it is a NO TRADE zone for me though. The nice thing about the daily charts when you DO find a nice channel is that you can still pick up some cargo even on the fake-outs. I'm playing around with trailing stops ATM.

Do you have any advise or experience in avoiding fake-outs? Even watching PA gets you faked out as I've watched a channel break very quickly, great PA, and then stall, hem and haw, and then reverse back into the channel. Thanks again for these wonderful observations!

Mike
  • #1,117
  • Jan 20, 2010 1:43pm Jan 20, 2010 1:43pm
Quoting xtensive
...

Do you have any advise or experience in avoiding fake-outs? Even watching PA gets you faked out as I've watched a channel break very quickly, great PA, and then stall, hem and haw, and then reverse back into the channel. Thanks again for these wonderful observations!

Mike
Let's get Real:
There is another Entity Above 'The Big Banks' but I don't know who.
This is not a conspiracy theory, I believe, it is just a fact.

Consider this;
If the Banks controlled the Market & You were a Banker; wouldn't you form Alliances or Coalitions?
So how come the "BIG" guys need a Bailout? (How could they Lose?)

Remember that it may be a Central Bank that is buying xyz currency but that is actually a final decision taken by a Bank Employee. (there are better Traders here on FF than some of those Nose Junkie, I got my Condo & Bimmer window panes.)

Bottom Line:
Until you succeed in (Pinky & the Brain) Taking over the world or at least joining the growing 5, we are all just guessing.

Luckily, the Powers that be don't want to be hooked to thier waist belt communication device & hand the job over to someone who can make it look natural.

Then comes the Review:
Your Fired & I need you (the new guy) to take the Markets (Plural) Here. Jump!

What a rant. Sorry. The Bottom Line is that You nor I nor You & I together will ever Move a Market.
All we can hope for is to get the Code that they use.

BMc
Edit.
PS. And They don't Scalp. They Consume.
  • #1,118
  • Jan 20, 2010 2:49pm Jan 20, 2010 2:49pm
I joke with my wife about that exact scenario all the time, that there is a dark smoky room somewhere, where like 5 scary men rule the entire world.

You bring up some very valid points about the bailouts and such though...the banks are obviously not as powerful as some think and they (probably) answer to a much higher power that smacks them down when they misbehave and blow their allowance.
  • #1,119
  • Jan 20, 2010 6:54pm Jan 20, 2010 6:54pm
Quoting xtensive

Do you have any advise or experience in avoiding fake-outs? Even watching PA gets you faked out as I've watched a channel break very quickly, great PA, and then stall, hem and haw, and then reverse back into the channel. Thanks again for these wonderful observations!

Mike
Welcome to the wild west.

PA that initiates a trade is just a part of the equation - there is also past PA to be concerned with - in other words, if PA is taking directly into a recent consolidation area or S/R area, then I always suspect a pretty quick reversal, and I am seldom disappointed.

Since the markets tend to move in a fairly lateral direction most of the time, the only way anyone can make money in this condition is to learn how not to lose it in sideways action - AKA 'fake outs'. For most people it means being ultra picky with entries. For a few, they learn to manage their stops to get to BE quickly so that a reversal causes no harm.
I'm pretty much done with all this ...
  • #1,120
  • Jan 20, 2010 7:42pm Jan 20, 2010 7:42pm
Quoting StoragePro
Welcome to the wild west....
And I thought you had given up on us.
You Lurker you.

Glad to see that you still have a hook on this thread.
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