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Currency meter trading - strongest v weakest

  • #101
  • Feb 10, 2010 12:34am Feb 10, 2010 12:34am
Quoting Beshakey
Thank you vantage, for your kind responses. Was unable to put in any screen time last 24 hrs.

I think the CM will be a nice accessary to a lot of trade systems.

I had an interesting (I think) observation monday. While watching the EU and EJ they turned short for a fairly rapid move at about 1400 GMT, thus triggering my trade, as per my usual rules (the break of a LL) on the 15 time frame.

I noticed that strength numbers of the currencies "crossed" at just about the time my stop order was tripped. Picked up a nifty 45 pips, too.

Perhaps...
Yes see post 1 for the possible other trades.
  • #102
  • Feb 10, 2010 12:34am Feb 10, 2010 12:34am
Quoting Beshakey
Guess what? I caught the same move on the EJ for about 20. Spotted it on the 15, and fine tuned it on the five.

Shakey
Nice one.
  • #103
  • Feb 10, 2010 12:53am Feb 10, 2010 12:53am
EJ had a 40 pip move up to 123.40 ish but stayed 3-6, had a 15 hammer sold the close which tied in with 5 min railroad tracks, -17.

There was a weekly pivot just below the sell area, should perhaps have waited for that to break.
  • #104
  • Feb 10, 2010 1:11am Feb 10, 2010 1:11am
Quoting yullah
Vantage : it seems this system is good in US and Uk sections.


i got a call of HMR 4 on eur/usd H1 by 14:00 and CM shows that $ was weak and eur strong, then when another candle forms i bought EU and made good result.

But i want to know pls do you make your entry on 5min or 1 min. pls address how you use 1min and 5min
Nice trade, Yullah

I think you are right. I bet, like most indicators, the CM needs some volitility to work best. As far as strengths, it is probably always accurate no matter when. BUT it doesn't help to know that dollar is stronger than the Euro, if niether one of them are moving enough to make any money.

Usually, the asian doesn't have much volitility, but sometimes, you can catch a good move or two. In other words, (like a friend of mine said) - - look at the asian from time to time, but don't plan on doing any trading.

Can find some good moves a couple hours before the europe open, say 0400 GMT. European traders are getting out of bed, and the BIG money is firing up the trading desks to decide how they are going to manipulate the various world markets. Seems like currencies move pretty smoothly without being too crazy about this time.

Be cautious about 0900 GMT because that is when the BIG Players are making the same decisions over here in the US.

This is only my opinion. Some people make a real study of this.

Shakey
  • #105
  • Feb 10, 2010 4:02am Feb 10, 2010 4:02am
I am still feeling my way with the CM, but traded Frankies Hour and the first hour of London. Not a lot of action (ie, significant differencies - is that a word? between the currencies,) had 2 trades - one for +7 and the other for +14. From my point of view, very much a work in progress. But, very interesting.
  • #106
  • Feb 10, 2010 9:41am Feb 10, 2010 9:41am
Hi Vantage,

Can you elaborate a bit on the following, Please?

strongest v weakest, 5 min hl/lh's and re-entry off 1 min bounces as long as the currencies are staying strong/weak. This appears to be the bread and butter trade. A 4 point spread appears to give very good trades.

Many thanks,
BC
  • #107
  • Feb 10, 2010 10:08am Feb 10, 2010 10:08am
Hi, Vantage,

Just back online after a frustrating week of internet outage and v interested to see your enthusiasm for a currency meter.... but first, I am appalled that you are excluded from posting elsewhere (H4X has suffered the same fate... this commercial thing really needs sorting out more sensibly : Twee, are you and your colleagues listening ?) ! I haven't even worked out what you are selling...

I joined a private forum awhile back and set up one member's excellent, free currency meter (screenshot attached), but after a month or so I decided it was not telling me anything that wasn't already obvious on my charts. When I have caught up my week backlog, I will study both this thread and my currency meter more carefully...
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  • #108
  • Feb 10, 2010 7:40pm Feb 10, 2010 7:40pm
I have 3 question:

1. What is "Frankies hours?

2. I am familiar with basics of candlesticks, and know many of the formations, but . . what are "railroad tracks?"

3. Are these stupid questions that any trader should know? Should I be embarassed?

Thanks guys, Shakey
  • #109
  • Feb 10, 2010 7:46pm Feb 10, 2010 7:46pm
Hey Mr Vantage

I went to your HL LH system thread, and reveiwed a little. Nice, sensible and effective system. Even though I don't enjoy scalping the way many traders do, I look forward to reading more. Thanks Shakey
  • #110
  • Feb 11, 2010 3:20am Feb 11, 2010 3:20am
Quoting orientos
From my point of view, very much a work in progress. But, very interesting.
Yep me to, WIP.
  • #111
  • Feb 11, 2010 3:30am Feb 11, 2010 3:30am
Quoting Bobcat2
Hi Vantage,

Can you elaborate a bit on the following, Please?

strongest v weakest, 5 min hl/lh's and re-entry off 1 min bounces as long as the currencies are staying strong/weak. This appears to be the bread and butter trade. A 4 point spread appears to give very good trades.

Many thanks,
BC
See chart below gu 5 min. This started as a 'turn' trade see post 1. GBP was slightly stronger than usd earlier suggesting GU up but we were falling. The 1 hr was down on a closed candle so our normal hl/lh system would be to sell which we did.

The numbers for GU were 'turning' meaning gbp was getting weaker and usd slightly stronger giving a chance to sell the lower high candles marked with down arrows.

As the move continued down it became a strong v weak trade with a good spread ie usd now 4.4 and gbp 1.5, a big swing from usd 3 and gbp 4 at the start.

OK 5 min lh/hl as per chart.

1 min re-entries have a look at gu 1 min with an 8 lwma on. If you are in 5 min downtrend with the 8 and 21 lwma's strongly down any retrace into the middle area of the ma's gives an opportunity for a lh sell. You can then switch to 1 min to look for a closed candle cross lower of its 8 lwma for a sell opportunity.

Hope this covers it.
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  • #112
  • Feb 11, 2010 3:36am Feb 11, 2010 3:36am
Quoting jtrade
Hi, Vantage,

Just back online after a frustrating week of internet outage and v interested to see your enthusiasm for a currency meter.... but first, I am appalled that you are excluded from posting elsewhere (H4X has suffered the same fate... this commercial thing really needs sorting out more sensibly : Twee, are you and your colleagues listening ?) ! I haven't even worked out what you are selling...

I joined a private forum awhile back and set up one member's excellent, free currency meter (screenshot attached), but after a month or...
I'm not selling a thing, but I did refer people for a free product to another site that has some 'pay' products. Yes it is not nice not to be able to post elsewhere. If you like send a message I've sent 2 messages (last Sat and Mon this week) asking them to review and haven't had a reply yet.

1 good thing today with pa struggling at 5600 normally a good place to exit CM was still showing GU down giving chance to have another 40 pips up in trade.
  • #113
  • Feb 11, 2010 3:41am Feb 11, 2010 3:41am
Quoting Beshakey
I have 3 question:

1. What is "Frankies hours?

2. I am familiar with basics of candlesticks, and know many of the formations, but . . what are "railroad tracks?"

3. Are these stupid questions that any trader should know? Should I be embarassed?

Thanks guys, Shakey
1 Frankfurt opens an hour before London and can have some very good trades.
2 A reversing pattern where 2nd candle is opposite of previous 1 and about the same length. A decent example would be Y's GU 1hr at the days low and this mornings gu 1 hr at the high of day.
3 No need to be embarassed.
Cheers.
  • #114
  • Feb 11, 2010 3:47am Feb 11, 2010 3:47am
Quoting Beshakey
Hey Mr Vantage

I went to your HL LH system thread, and reveiwed a little. Nice, sensible and effective system. Even though I don't enjoy scalping the way many traders do, I look forward to reading more. Thanks Shakey
The good thing about this method is you can get in at scalp risk but often like today enjoy bigger runs. GU in particular will typically do 100 pips+ in a session. I didn't know that 5656 pivot was the end of this mornings run up, and even if I did it was before my trading time, but after a negative 1hr close and a nice lower high I was pretty sure we were heading down.

This move down is now in direction of Y's move, had a 1hr reversal candle at M M1 5656 so you would expect a decent fall. It did move 100 pips in session so far, giving a chance for an 80 pip trade from a 15 pip stop (80 pips as lh was around 20 below the top). Not quite scalping only.
Cheers Shakey.
  • #115
  • Feb 12, 2010 12:08am Feb 12, 2010 12:08am
Ability to post elsewhere sorted out by Twee, thanks.
  • #116
  • Feb 12, 2010 1:12am Feb 12, 2010 1:12am
A well deserved result. Great.
  • #117
  • Feb 12, 2010 1:44am Feb 12, 2010 1:44am
Quoting orientos
A well deserved result. Great.
Cheers O.

This morning ej, 1 hr up, 2 nice hl's with strength on eur weakness on jpy. Everything combining for some straight forward trades, low risk 1.5% of capital and 4% return on cap for the day.
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  • #118
  • Feb 12, 2010 2:18am Feb 12, 2010 2:18am
I don't trade gj but this is interesting for those that do and like CM. Gbp was getting stronger and jpy weaker. We were focused on ej but this 5 min chart is nice.
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  • #119
  • Feb 12, 2010 4:26am Feb 12, 2010 4:26am
Ej 5 min. The arrow down was a clear turn from eur strong, jpy weak to eur weak and jpy strong. A nice lh with 2 shooting stars.

I then went out but the eur weakness currently just below 3 and jpy strength looks like it continued. I wasn't here for the fall marked with an x would have been interesting.

Usd also showing strength at 7.4 and eu also had a nice fall.
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  • #120
  • Feb 12, 2010 4:32am Feb 12, 2010 4:32am
We added another lwma, 21, as Mrs V wanted a clearer view of 5 min trend. Obviously if there is good angle and separation up or down there is clear 5 min trend and any hl/lh moves into the space between ma's can be clearly seen.

She is aware that when at limit and turning that lh/hl's, 1 2 3 top/bottoms not as easy to spot from the ma's. She does know that a lh/hl in the 8 lwma is a good clue though as clearly seen from this gu chart.
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