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The Dragon

  • #101
  • Feb 3, 2010 10:18am Feb 3, 2010 10:18am
Quoting wesnel
So far your analysis has proven right.
Price bounced perfectly off the 200ema on 1hr tf.
I made a quick 12 pips off that bounce

Wes
Happiness is.....
  • #102
  • Edited 1:53pm Feb 3, 2010 1:50pm | Edited 1:53pm
Not a bad day,

Testing on 3 pairs, Eur/Usd, Gbp/Usd & Aud/Usd. Waiting for good setups and confirming on higher tf's.

Made 62 pips for the day.
  • #103
  • Feb 4, 2010 2:36am Feb 4, 2010 2:36am
Quoting wesnel
Not a bad day,

Testing on 3 pairs, Eur/Usd, Gbp/Usd & Aud/Usd. Waiting for good setups and confirming on higher tf's.

Made 62 pips for the day.
This dragon is a most beautiful creature. Is he not?
How he loves the 200 ema!!
How he is drawn to the pivots and s/r.
He has true character....
Since he is a "fractal" being, zooming in and zooming we see he is consistent. A dragon all the time....
Macro or micro. It is he...
The same wonderful creature...
He will lead us to great riches.
Long live the dragon....http://www.meetdragons.com/d/787-2/odr5.jpg
  • #104
  • Feb 4, 2010 2:44am Feb 4, 2010 2:44am
Trick:
toggle through the different time frames on the same chart, marking the 200ema on each by drawing a horizontal line through it.
These 200 ema levels are significant for the dragon and by seeing them all on 1 chart we can follow his movements.
Attached Image (click to enlarge)
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  • #105
  • Feb 4, 2010 2:49am Feb 4, 2010 2:49am
Quoting jiva34
Trick:
toggle through the different time frames on the same chart, marking the 200ema on each by drawing a horizontal line through it.
These 200 ema levels are significant for the dragon and by seeing them all on 1 chart we can follow his movements.
Use this MTF indicator, instead of toggling between timeframes
Attached File(s)
File Type: mq4 AllAverages_v2.2.mq4   17 KB | 512 downloads
  • #106
  • Feb 4, 2010 6:01am Feb 4, 2010 6:01am
Quoting Wlfx
Use this MTF indicator, instead of toggling between timeframes
Thanks.
Will give it a go...
  • #107
  • Feb 4, 2010 9:22am Feb 4, 2010 9:22am
Spectacular day!!
Simply breathtaking!!!
The dragon has landed at the weekly 200 ema, which is also the 50 fib for the correction from his highs...
Now it appears the macd divergence on the 4hr is resolving and his move back up is to commence.
In his weekly form no doubt he is a little tired and will rest for some time at his favorite place, the 200ema.
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  • #108
  • Feb 4, 2010 9:43am Feb 4, 2010 9:43am
Yeah was a good day, made 56 pips, been a decent week so far.
  • #109
  • Feb 4, 2010 10:42am Feb 4, 2010 10:42am
Quoting wesnel
Yeah was a good day, made 56 pips, been a decent week so far.
Pays to be patient...
Disciplined..
http://t2.gstatic.com/images?q=tbn:L...o_dragon_0.jpg
  • #110
  • Feb 5, 2010 12:37am Feb 5, 2010 12:37am
still tend to favor the scenario that the dragon will stay right around the 200ema weekly, tendency is for him to drop just below the ma and then come back up through it and sit there for a while, maybe all next week.
The Spain, Greece, Portugal thing will have played out by then and the worst fears will have driven the dragon to overshoot to the downside.
Similar to what he did when he reached the 200 ema on the day tf.
Just one way to see things.
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  • #111
  • Feb 5, 2010 12:51am Feb 5, 2010 12:51am
Another indicator I like to use, not always (too many indis clutters things), but some of the time is the trix.
This is a triple moving average indicator so it very closely resembles the macd.
Trix tracks the movements of the dragon.
The arrows are there to show areas to pay special attention.
They are not automatic "buy" and "sell" signals.
I find especially useful when trix on a time frame higher than the 1m crosses either the green lower line or the red upper line and begins to come back down.
These are areas where the dragon has over done it one or the other and will not be able to continue. He will have to turn the other way at least for a little while.
Used in connection with everything else, this information can help to confirm a safe entry.
Attached Image (click to enlarge)
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Attached File(s)
File Type: ex4 THV4 Trix called.ex4   28 KB | 398 downloads
  • #112
  • Feb 5, 2010 2:11am Feb 5, 2010 2:11am
maybe back up to 38 fib...
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  • #113
  • Feb 11, 2010 12:40am Feb 11, 2010 12:40am
Looking at this system i can see you will make pips.

I do have concerns however.

As you earlier insisted, this system is 'Alive' and so is not mechanical like you said.

As this system is not mechanical, when you are trading this with real pounds and pence, you will have issues.

I say this because the lack of a mechanical entry and exit signals means that you are using your judgment and your emotion.
I promise you this is very dangerous.

You Do Not know what's going to happen in this market, otherwise you would be a multi-billionaire by now.

As this is the case, you cannot use your judgement and "gut instinct" to trade, because there is only a 50% chance of this being right (not good odds to me).

Again, I'm not saying you won't make money with this, I am simply poijnting out a fundamental flaw, which is that you are relying to much on instinct and judgement with this, and I assure you the FX market is "un-judgeable", it will do what ever it wants, regardless of your dragon wanting to soar with the eagles, if the market is going to crash and you listen to your dragon and it wants to fly, your going to get burnt.

By all means trade this my friend, however i really do see this as quite a big flaw.

However, I must say, the concept is pretty cool
  • #114
  • Edited Feb 12, 2010 1:06am Feb 11, 2010 11:33pm | Edited Feb 12, 2010 1:06am
Quoting Xivali
Looking at this system i can see you will make pips.

I do have concerns however.

As you earlier insisted, this system is 'Alive' and so is not mechanical like you said.

As this system is not mechanical, when you are trading this with real pounds and pence, you will have issues.

I say this because the lack of a mechanical entry and exit signals means that you are using your judgment and your emotion.
I promise you this is very dangerous.

You Do Not know what's going to happen in this market, otherwise you would be a multi-billionaire...
Precisely.
Because the dragon is alive the element of unpredictable is there.
But to simply approach indicators blindly as if he has to obey the rules with no possibility of exception is the very point.
I do not see this understanding as a flaw. I do not see that we disa gree in essence.
The dragon concept rather puts the mechanics and the technicals in perspective. As indicators. They indicate such and such is possible only. Not absolute certainty.
Then I have the opportunity to make a decision. I do not have to trade a set up if I am not happy with it even if all the so called technicals are in line.
I think that to overlook the living aspect of both the dragon and myself is a flaw....
 I rather see that to trade in a so called emotionless state is not only impossible but is also unnatural and therefore out of touch with reality.
Rather a balance must be there. Emotions under control. Not that there are no emotions all. That I believe is an impossibility for a living being.
The dragon moves influenced by emotions, expectations, desires, fear, etc.
To ignore this dimension I feel is to miss a vital aspect of the playing field. To have one's own emotions in control is the key to success. Not to deny that there are any emotions at all.
Best wishes,
Thank you for your comments.
Am using another indi that I am finding very helpful.
rsi 3 smoothed.
It is the exp 3 moving average of rsi 3.
A cross of 50 is the alert...
it is an earlier alert than macd or dss.. but in combination can help to make a decision...
Happy Chinese New Year to all the dragon people....http://www.scottyblog.com/wp-content...agon-dance.jpg
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  • #115
  • Feb 12, 2010 11:06am Feb 12, 2010 11:06am
Quoting Xivali
Looking at this system i can see you will make pips.

I do have concerns however.

As you earlier insisted, this system is 'Alive' and so is not mechanical like you said.

As this system is not mechanical, when you are trading this with real pounds and pence, you will have issues.

I say this because the lack of a mechanical entry and exit signals means that you are using your judgment and your emotion.
I promise you this is very dangerous.

You Do Not know what's going to happen in this market, otherwise you would be a...
humans trade the market. our brains are non linear, so mechanical n linear systems with stiff entry exits are never gona be consistently profitable. that is what i like about the dragon. jiva nailed it on the head. it is a fractal being. i understand the mentality behind those who use mech systems. every1 loves certainty(the shirking of your responsibility to the system), enter here exit there rinse repeat its so straightforward and if they lose they get to blame the system. only when u take ur responsibility in your trading then u will be profitable.

only after throwing all those lagging indicators out of the window. then u will start to develop your own indicator. its called "gut feel" and the more u feel it the more accurate it gets.
  • #116
  • Feb 12, 2010 11:39am Feb 12, 2010 11:39am
you are fairly new, right?

This is not to trade, is to wait until the light turns green ...

good luck, these methods tend to die soon.
MY telegram channel: https://t.me/https://t.me/tnavieurusd
  • #117
  • Feb 13, 2010 12:24am Feb 13, 2010 12:24am
Interesting discussion.
Personally I see it as a matter of balance.
A system is only as good as the trader trading it.
Like a great auto. Fast, smooth ride, great tires, etc. but the driver has to use a certain amount of discretion. The road conditions, he may feel some fear if it is icy.. maybe he decides not to drive that day.
That fear is helpful. He can make a better decision if he feels it.
Trading is like that for me.
I have full faith in my system, my good friend the dragon. He has succeeded too many times. So many times. The money is rolling in to be quite honest. Beyond what I really thought could be possible, only dreamed of.
But I may feel some fear even if the signals are there. Something else may be going on. Some uncertaintly in the marketplace. Greece for instance causing whipsaws. So I respect that fear even if the signals are there and I may chose not to place the trade. Or I may exit early even though the indies are all systems go.
Each trader is unique in how much risk he can tolerate. How much capital he can trade with, what time frame he is most confident of trading. What system he uses.
But I think the principle of balance between mechanics and listening to the voice inside is valid for any trader to become actually successful.
And grow his trading business.
After all trading is a business.
  • #118
  • Feb 13, 2010 11:42am Feb 13, 2010 11:42am
interesting indi
volty channel
incorporates atr...
will see how to use for trailing stops, exits and entries...
Attached Image (click to enlarge)
Click to Enlarge Name: 1.gif Size: 61 KB
Attached File(s)
File Type: mq4 VoltyChannel_Stop_v2.1.mq4   6 KB | 388 downloads
  • #119
  • Feb 13, 2010 12:14pm Feb 13, 2010 12:14pm
Quoting jiva34
interesting indi
volty channel
incorporates atr...
will see how to use for trailing stops, exits and entries...
Hi Jiva,

That Volty channel does look interesting.

Will you let us know how it goes?

Thanks
  • #120
  • Feb 14, 2010 2:00am Feb 14, 2010 2:00am
Quoting wesnel
Hi Jiva,

That Volty channel does look interesting.

Will you let us know how it goes?

Thanks
Took the indi off Trendman's thread while making the rounds on FF a little while back.
He has a couple of unique ways to use it.
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