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  • #461
  • Jan 15, 2010 4:30pm Jan 15, 2010 4:30pm
Haven't investigated this yet as I haven't had a need.

One way would be to setup an email account just for trade signals and get metatrader to send you an email alert. This feature is already built in to metatrader. You could then have your phone check this email account on a regular basis.

I usually know a trade is setting up quite a few minutes before it happens so there should be plenty of time? For example, I got the heads up on EU and GU trades well before they occurred.

Later, I may investigate an SMS option and put it in the dash.

Quoting pipgame
Hello Stratman, because you are very good programmer have one question?


Is possible to create SMS (mobile phone) alert?

I have no idea if it is possible or not. If it is possible and will work ok, I will not ask you for free.

Thanks for answer


cheers

pipgame
  • #462
  • Jan 15, 2010 5:20pm Jan 15, 2010 5:20pm
The Dash really proved its worth during that session

EDIT: Ooops made 73 pips including the only losing trade ie EU -2 pips (had previously stated 75 pips ... sorry )

My visitors were out for the day so I got a chance to trade my first full session for the year ... with the following results:

1) 0 pips: Dash Predicted GU short (heads up but not traded)

Initially the dash gave me a clue that GU is likely to short ... confirmation given by previous divergence
http://www.forexfactory.com/showpost...&postcount=437

The short occurred but I didn't take it as I was programming updates to the dashboard (v3.01) which I released later same day.

2) 0 pips: Dash Predicted EU short (heads up but not traded)

I gave everyone a heads up on a possible EU short looming
http://www.forexfactory.com/showpost...&postcount=442

Within 15 min, the break occurred.
http://www.forexfactory.com/showpost...&postcount=443

I didn't take the trade as I was busy with something else

3) Made a post about EJ & GU looked about to follow the short of EU.
http://www.forexfactory.com/showpost...&postcount=444

4) 10 pips: Within 8 min of signal, EJ did short
http://www.forexfactory.com/showpost...&postcount=445

5) 23 pips: UJ short
http://www.forexfactory.com/showpost...&postcount=446

6) Dashboard was giving a signal for possible GU short looming
http://www.forexfactory.com/showpost...&postcount=447

7) Dashboard GU short signal getting stronger (20 min later)
http://www.forexfactory.com/showpost...&postcount=448

8) +25 pips: GJ Short
http://www.forexfactory.com/showpost...&postcount=449

9) +15 pips: Closing out the day
+8 pips: EJ Short
+9 pips: GU Short
-2 pips: EU Short
http://www.forexfactory.com/showpost...&postcount=450

Note that the GU short did occur (as predicted) but I got out at +9 pips.

One important thing I've learned is not to be greedy ... almost twice my daily target is plenty.

Overall, I am really pleased with how the dashboard is helping my strategy.
  • #463
  • Jan 15, 2010 6:24pm Jan 15, 2010 6:24pm
Thanks for all your hard work Stratman. I look forward to trading with the new dashboard next week!

I'm just wondering how you approach trading multiple currencies with your system.. You've said previously that you usually only trade one currency at a time - do you look for trades in the first currency (out of GU, EU or EJ) to hit the 40 pip range and then progressively trade the others? Or do you trade EJ until Frankfurt opens then keep only EU or GU windows open?

Sorry if it seems like I'm asking for something very specific - I guess I'm just wondering if you keep an eye on all 3 currencies at once, waiting for alerts from the dashboard, or if you find it better to focus on 1 currency at a specific time.

Again, thanks for your wonderful contributions to the FF community - it's really unfortunate that you're unable to post to the THV thread. I'll definitely be frequenting this thread in future
  • #464
  • Jan 15, 2010 7:16pm Jan 15, 2010 7:16pm
I use to only look at one currency at a time. I think this is important until you get a strategy that works for you.

You may remember (when I was allowed to post on the THV thread) that I traded EJ during Asian session and EU during Europe/London.

Near the end of last year, I tried GU during Europe/London.

This year I feel I have my strategy quite well worked out, so I'm applying it to other currencies ... particularly during my main trading time GMT 05:00 to 09:30. If I didn't need to got to bed, I would continue until GMT 11:00

The main currencies I look at are EU, GU, UJ, EJ & GJ. GJ is the only one that I'm not confident trading ... it's a monster

With GJ, you can gain lots of pips ... but you could lose your shirt if you don't have good money management. That was my first GJ trade using the fractal breakouts and thv ... as you can see, I chickened out for just over 20 pips

I have all those currencies open in metatrader. I have two charts for each, one is analysis with dashboard and the other is thv with the three mini thv's (M15, M5 & M1) at the bottom.

After analysing each analysis chart, I then wait for fractal alerts. I have quick glance at all charts at the start of each M15 candle and have a more thorough look on the start of each H1 candle.

Hope this helps.




Quoting Mindsphere
Thanks for all your hard work Stratman. I look forward to trading with the new dashboard next week!

I'm just wondering how you approach trading multiple currencies with your system.. You've said previously that you usually only trade one currency at a time - do you look for trades in the first currency (out of GU, EU or EJ) to hit the 40 pip range and then progressively trade the others? Or do you trade EJ until Frankfurt opens then keep only EU or GU windows open?

Sorry if it seems like I'm asking for something very specific - I guess I'm just...
  • #465
  • Jan 15, 2010 7:31pm Jan 15, 2010 7:31pm
Quoting stratman
Hope this helps.
It does help, thank you!

I'll probably stick to monitoring EU & GU for now from the European open onwards and EJ before that. When I get more confident I guess I'll see what I can do otherwise

I'm wondering if you have any plan for an addendum to the dashboard manual covering a few of the "typical" trades that can be taken? Sort of like a trading "template" which could be applied to different currencies. I know you already post wonderful videos of trades and so on, but an outline which covers things that should be checked before entering a trade under certain circumstances would probably be very beneficial to everyone (including the person writing it).

For example, I notice in one of your videos you talk about looking at the gradient of the TRIX and the stochastic, yet it's one of those details that gets overlooked when summarising a trade in this thread (or perhaps something that you don't always consider). Perhaps it's little things like that which can make the difference between a profitable trade and a losing one.

I know it's a big ask, so please only take that as a suuggestion and not a request. If I get to a stage where I'm confident enough in my trading to put something like that together I will, so that I may give back to a community that has helped me so much

Thanks again!
  • #466
  • Jan 15, 2010 9:12pm Jan 15, 2010 9:12pm
This is a good idea, but there are no 'special' extra rules. It's all about experience. I'll try to explain a bit about this in the next post.

Quoting Mindsphere
It does help, thank you!

I'll probably stick to monitoring EU & GU for now from the European open onwards and EJ before that. When I get more confident I guess I'll see what I can do otherwise

I'm wondering if you have any plan for an addendum to the dashboard manual covering a few of the "typical" trades that can be taken? Sort of like a trading "template" which could be applied to different currencies. I know you already post wonderful videos of trades and so on, but an outline which covers things that should be checked before entering...
  • #467
  • Edited 11:49pm Jan 15, 2010 10:18pm | Edited 11:49pm
95% of you will not want to hear this ... but I firmly believe that the majority of people who fail in forex are using a 'profitable' strategy.

Read that again so you are clear on what I just said

I will use an example ... THV is a profitable strategy and you don't have to pay any money to learn to trade it .. there's strict rules and a helpful forum etc. But how many people continue (long term) using THV profitably?

Let's do an exercise ... how many people are viewing the THV thread right now? There's 24. Of those, 6 are members (including me). There have been over 180,000 downloads since 28 Sept 2009. I know THV is profitable so why aren't there more active members on the thread?

Let's conservatively assume that only 5% of the downloads resulted in individuals having a go at using THV. That would be 9000 people. I bet most of them will have moved on to their next 'Holy Grail' opportunity or lost too much money to continue in forex?

IMHO Forex Trading is hard work and you have to practice practice and practice until you can read the charts well enough for tools like my dashboard and systems like thv to assist you. I don't think any system will make you profitable ... they are servants of their master (you).

If you don't do your homework, you'll likely continue searching for the Holy Grail (another assistant) until you understand this (or you lose enough money to call it quits ).

It took me 5 years and $25,000 to understand this. A servant does the bidding of the master, not the other way around

Please feel free to comment.

stratman
  • #468
  • Jan 15, 2010 11:38pm Jan 15, 2010 11:38pm
Hi Stratman. Honestly, my hat goes off to you and I would buy a thousand more hats and throw them your way if I could. This is a once in a life time opportunity to see someone with as much heart and dedication as you when it comes to trading and trying to help others to succeed. That is why I follow your site and thread like a hawk. Anyone one else that has been trying to successfully trade for some time would probably agree. I truly believe you have to lose money before you can become profitable. I have and I know you have as well. I really, really respect you when you say you have to know trading (or your charts/chart analysis) to become profitable. It says alot to me when you are telling people not to totally rely on you platform. If you apply discipline and chart analysis along with your dashboard and understanding of it, you will ( in my opinion) be profitable.

I really want to thank you and the THV team for sharing your knowlege to us.
  • #469
  • Jan 16, 2010 12:10am Jan 16, 2010 12:10am
Hi, STRATMAN, what great posts you have such a way of explaining things, it all becomes clear.( even for a frenchman)...lol keep on posting and thank you for you hard work.

jean
  • #470
  • Jan 16, 2010 1:02am Jan 16, 2010 1:02am
Do you have a youtube video on how the dashboard works ?

I am subscribed to a service that provides every currencies strength/weakness but it resets twice in 24 hrs and i would love to have something that resets every 3 hours or so as i like to trade with the trend.
Thanks!
  • #471
  • Jan 16, 2010 1:22am Jan 16, 2010 1:22am
There is a freely available strength indicator that I am going to adapt for our strategy. I'm going to build it into the dashboard for convenience but it is available as a stand-alone indicator.

Check it out on this Forex Factory thread
http://www.forexfactory.com/showpost...3&postcount=12

Quoting Honored
Do you have a youtube video on how the dashboard works ?

I am subscribed to a service that provides every currencies strength/weakness but it resets twice in 24 hrs and i would love to have something that resets every 3 hours or so as i like to trade with the trend.
Thanks!
  • #472
  • Jan 16, 2010 1:23am Jan 16, 2010 1:23am
I'm also going to build the news indicator into the dashboard as well. I want my dashboard to be the only thing I add to a chart!
  • #473
  • Jan 16, 2010 1:58am Jan 16, 2010 1:58am
STRATMAN, what a great posts and I am going to stop searching the " holy grail". gonna stick one system and master it. There's no short cut to success, but you lead us to success easier and faster. Thanks again.
  • #474
  • Jan 16, 2010 2:18am Jan 16, 2010 2:18am
I have some videos on my youtube account but they need to be refreshed. I hope to do that next week .. particularly one about setting the time zone (someone requested it).

Youtube videos are here

Quoting Honored
Do you have a youtube video on how the dashboard works ?

I am subscribed to a service that provides every currencies strength/weakness but it resets twice in 24 hrs and i would love to have something that resets every 3 hours or so as i like to trade with the trend.
Thanks!
  • #475
  • Edited 4:31am Jan 16, 2010 3:59am | Edited 4:31am
Quoting stratman
95% of you will not want to hear this ... but I firmly believe that the majority of people who fail in forex are using a 'profitable' strategy...

<clipped>

Please feel free to comment.
I'm actually not so sure I agree with that statement. After coding a large number of EAs to trade numerous systems as described here, I'm of the opinion that most "systems" are actually just complex ways of trading at a break-even level (minus the spread). At least, I believe that to be so for anything with simple mechanical rules.

I know Cobra has commented that PA is quite important when it comes to trading, and to refer to James16's thread on this. However, I have not really seen many people in the THV thread itself comment specifically on PA.

If I tried to tie down what I think the primary ingredients of THV are, they would be as follows (please correct me if I've missed something):

- Trading with the trend (the coral)
- TRIX cross, colour and relationship to 0 (with the angle of the cross taken into account by some)
- Breakout additionally filtered by the cloud
- Divergence between price & TRIX
- The pivot indicator for S&R lines
- Cobra also puts heavy emphasis on drawing up your own HL (heatline) map, marking out important points of S&R

The dashboard adds some extremely useful features, and I do wonder how a profitable trader like yourself makes use of some of them. For example - if the average range for a session has been hit, and we're at the extreme of that session is that likely to prevent you from taking a trade further in that direction? (Actually, just on that note - any plan to add some sort of standard deviation calculation to the session ranges? Would be a great addition imho)

I see you're using H1 & H4 fractal breakouts as your preferred method of picking entries presently - is it really as simple as:

- Wait for an alert that the price is close to one of these S&R lines
- Check THV for entry and note whether or not divergence is valid.
- If divergence against your position exists, don't enter.
- If divergence for your position exists, increase entry possibility (will you usually enter anyway if there is no divergence in your favour?)
- Check where the next S&R line is for TP target, consider whether the r&r is worth it
- If at the extreme of that session's range average, don't take an entry
- Importantly - do you ever wait for the price to breakout, or do you simply enter when THV conditions are met on M5 & M1, before the price breaks out and if it has broken out before these conditions are met do you still enter?

Thanks again, stratman
  • #476
  • Jan 16, 2010 7:13am Jan 16, 2010 7:13am
Quoting stratman
This is a misunderstanding that I will have to sort out with a friend ... let me explain just a little of that. I feel I have to respond here so readers can understand that I am not a thief. In doing so, I hope not to upset my friend any further
Hi Stratman,

Sad to note about the misunderstanding which should not exist in the first place if a Trader shares his strategy with other traders. By sharing the strategy for trading the trader doesn't become poor, infact he should feel happy to note that he is helping so many people and touching there lives in a positive manner.

I think you need to put this incident behind and carry on with the wonderful work that you are doing for the Forex community.

Cheers
  • #477
  • Jan 16, 2010 8:15am Jan 16, 2010 8:15am
Quoting stratman
That already happened a few hours ago ... take a look at times on the trend and you will see it fell away as expected a little later ... good trade.

I was just trying to give people an idea of what I look for. Hope it helped as it did turn into a trade shortly after.
Hi Stratman,
Thanks for your explanation. I will contact you on skype one of these days for further clarification.
BTW there seems to be difference in my charts and your charts. The candle on my chart is green while on your chart it is red. Can you pls investigate and clarify the discrepancy.

Cheers
Attached Image (click to enlarge)
Click to Enlarge Name: Candle Anomaly.PNG Size: 40 KB
  • #478
  • Jan 16, 2010 9:25am Jan 16, 2010 9:25am
Quoting novice198
Hi Stratman,
Thanks for your explanation. I will contact you on skype one of these days for further clarification.
BTW there seems to be difference in my charts and your charts. The candle on my chart is green while on your chart it is red. Can you pls investigate and clarify the discrepancy.

Cheers
Colours of bars in a chart are broker-dependent and nothing to do with strat's dashboard. Sometimes brokers have different price feeds. That's probably why you're seeing a difference.
  • #479
  • Jan 16, 2010 4:29pm Jan 16, 2010 4:29pm
Please understand that this is what I currently think. Please leave room for me to change my point of view at a later date ie I never stop learning from others

Quoting Mindsphere
I'm actually not so sure I agree with that statement...
Mindsphere, I am really pleased you are posting on my thread. Often, it's difficult for me to think of what people need until they ask ... thank you. Please continue prodding me ... I enjoy it

Quoting Mindsphere
After coding a large number of EAs to trade numerous systems as described here, I'm of the opinion that most "systems" are actually just complex ways of trading at a break-even level (minus the spread). At least, I believe that to be so for anything with simple mechanical rules.
I agree with you about EAs. EAs work based on concrete rules ie there can be no gray areas. The problem is that we adapt our trading all the time ie the rules get tweaked too often eg today I've learnt something about candle patterns that will change the way I view Price Action under certain conditions ... this will affect the way I trade. To get an EA that can contain ALL my ideas/rules would be so difficult to maintain.

Quoting Mindsphere
I know Cobra has commented that PA is quite important when it comes to trading, and to refer to James16's thread on this. However, I have not really seen many people in the THV thread itself comment specifically on PA.
I am one of the fortunate few that Cobra has given one-on-one training ie outside the forums. I've concluded that price action and more specifically support and resistance are crucial to using any strategy.

Quoting Mindsphere
If I tried to tie down what I think the primary ingredients of THV are, they would be as follows (please correct me if I've missed something):
Quoting Mindsphere
- Trading with the trend (the coral)
Yes ... this is indeed why we have the coral. Until a person can trade naked charts, there has to be a guide. A moving average is important. The problem becomes which one to choose. Some people use EMA, SMA, LWMA etc of many different periods. Common are 20, 24, 60, 100, 180, 200 etc. This is very confusing to novices. It is usual to find one that suites your own style eg intraday, swing trading etc and stick with it. I personally like 20-60 periods. I also like the M5 coral on other timeframes as I often use thv on M5 , therefore, it makes sense to show it as a 20 period on my M15 analysis ie the 'compass' I include with the dashboard.

Quoting Mindsphere
- TRIX cross, colour and relationship to 0 (with the angle of the cross taken into account by some)
I use fast trix crossing slow trix in correct direction and fast trix cross zero.

Quoting Mindsphere
- Breakout additionally filtered by the cloud
I use a close outside the cloud in the correct direction.

Quoting Mindsphere
- Divergence between price & TRIX
I don't trade against what divergence is saying

Quoting Mindsphere
- The pivot indicator for S&R lines
Some of my entries are based on this, but use it more for exits.

Quoting Mindsphere
- Cobra also puts heavy emphasis on drawing up your own HL (heatline) map, marking out important points of S&R
Support and Resistance are the most important part of my strategy. I am more interested in most recent S/R based on fractals rather than long term. This usually ends up supporting the more congested heatmaps but keeps my chart 'clean'. I must update my videos as I show the traditional heatmap way of doing SR. The principle is valid but I don't 'clutter' my screen as much now.

Quoting Mindsphere
if the average range for a session has been hit, and we're at the extreme of that session is that likely to prevent you from taking a trade further in that direction?
I find it more important to see that the Asian session has made around 40 pips movement (my definition of Asian session means it starts at the close of New York)

Quoting Mindsphere
(Actually, just on that note - any plan to add some sort of standard deviation calculation to the session ranges? Would be a great addition imho)
I haven't thought about a standard deviation. What I look at is the minimum value of the three columns for Month, Week and Yesterday daily average.

Quoting Mindsphere
I see you're using H1 & H4 fractal breakouts as your preferred method of picking entries presently - is it really as simple as:
Even though I trade M15 as analysis, then M5/M1 on thv, I am always looking to H1 as most important. Any trade I take from now on has to support what I see on H1. I also look at H4 and D1 price action ... specifically for long term view and also might get a heads up based on pin bars etc(see James16 thread).

Quoting Mindsphere
- Wait for an alert that the price is close to one of these S&R lines
Looking for PA to likely bounce or break an SR line on H1

Quoting Mindsphere
- Check THV for entry and note whether or not divergence is valid.
Don't look at thv page until I see thv M5/M15 dashboard lamps confirming my thoughts on break or rejection of H1 SR line

Quoting Mindsphere
- If divergence against your position exists, don't enter.
There is definitely a higher risk if trading against divergence. Should stand aside ... trade at your own peril

Quoting Mindsphere
- If divergence for your position exists, increase entry possibility (will you usually enter anyway if there is no divergence in your favour?)
Only enter when I see clear PA signal (candle formation) confirming a break or rejection of my H1 SR line plus THV/fractals/divergence confirmation as well

Quoting Mindsphere
- Check where the next S&R line is for TP target, consider whether the r&r is worth it
My profit target is the hieght of the previous SR in our direction on H1. If risk reward is less than 1:1, stand aside. I normally don't set the take profit, I'd rather move my stop and exit either when stop hit or manually or by looking at the charts.

Quoting Mindsphere
- If at the extreme of that session's range average, don't take an entry
I may have mentioned this as a rule before, but I'm more interested in this value giving me a heads up the probability of a rejection or break of the current SR line. Sometimes I see the range done for the day in the Asian session but Europe/UK/US sessions haven't got a range yet. This is the importantance of having more than just a single daily range value ie that's why I look at the range of each session rather than the total day.

Quoting Mindsphere
- Importantly - do you ever wait for the price to breakout, or do you simply enter when THV conditions are met on M5 & M1, before the price breaks out and if it has broken out before these conditions are met do you still enter?
Always wait for break or rejection to be confirmed by price action on H1 and M15. I may enter with a before this but with a smaller position size and scale in when price action confirms the entry I took.


Wow that was a lot of typing!
  • #480
  • Jan 16, 2010 7:58pm Jan 16, 2010 7:58pm
Quoting stratman
Please understand that this is what I currently think. Please leave room for me to change my point of view at a later date ie I never stop learning from others


Mindsphere, I am really pleased you are posting on my thread. Often, it's difficult for me to think of what people need until they ask ... thank you. Please continue prodding me ... I enjoy it
Any time!

In all seriousness though, thank you for your extensive reply. I've read over it a few times and it's certainly helped solidify a few things in my mind and I'm sure it will help others as well. However it has made me wonder about a few more things

Quoting stratman
I am one of the fortunate few that Cobra has given one-on-one training ie outside the forums....
Just briefly - you talk about SR on your H1 chart - is this simply the H1 & H4 fractal extensions?

I'm also wondering to what extent you utilise candle patterns - because this is what I meant by saying PA is not really discussed in the THV thread. There is a lot of talk about S&R, but no so much at all about the candle patterns around these "zones". I know there's a thousand page james16 thread which explores these concepts, and I have done some reading in that thread - but I basically wonder to what extent things like pin bars, inside bars, bearish outside bars, bullish outside bars and so on can be used in an intraday sense.

Do you watch for candle patterns on M1/M5/M15 or only on H1/H4/D1 (for example)? Or, are they lower on the list of priorities considering you have THV to help pick entries and exits?

I note you say that you "only enter when I see clear PA signal (candle formation) confirming a break or rejection of my H1 SR line". Does this mean break + retest, or simply a strong candle in one direction or the other or something else entirely?

You're extremely lucky (and deserving) to have had 1 on 1 training with Cobra, so I do hope you can shed some light on this for us all
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