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Weekly Trend Trading Method

  • #601
  • Feb 15, 2010 10:19pm Feb 15, 2010 10:19pm
Quoting cabbagepicker
I apologize up front if this has already been asked. I looked thru the thread and could not find the answer. The 2ma crossover indicator that I am using (same name as you are using) does not send emails when turned to true. Is there an up to date version I am missing??? Thanks for the help.
Hello cabbagepicker and welcome to this thread. I'm not sure about the email alert function because I'm not a programmer, and I don't use email alerts. Pm Fredella who is a programmer. I think he could help you.
  • #602
  • Feb 16, 2010 10:54am Feb 16, 2010 10:54am
Hi LGTJ and team on the forum --

I could have written much of your post one: can't sit at the screen all the time (or overnight), mixed success with small TF trading AND a belief that the higher TFs are where some significant rewards and high(er) successful strike rates should be found.

I am not a rookie to forex but have not been able to sustain success. I will . . .

So, glad to be here. My 'solution' to my para. one above has been to follow higher TFs with Ichimoku which does work BUT gets to the trend following quite late on a D1 or W1. I am hoping this approach might get one in to solid trades sooner. My early investigation says, 'yes.'

All of you have every right to expect me to read the 600 or so posts, and I am well into it. My 'hole' is the middle group of postings.

Observation. I'm not quite sure where you are. That is, some have taken off indys and others have put things on from the original version and vision. IS THERE AN AGREED UPON OPTIMAL SET OF INDICATORS AT THIS MORE MATURE STAGE OF DEVELOPMENT? If so, could one of you graciously make an up to date restatement of those with their settings?

I'll keep reading and start some set-ups on my screen, and by the way, just curious -- about how many positions are you finding on, say, the D1 per month? By its nature, I suppose this technique demands plenty of patience.

Thanks to any responders!

Greetings and best regards to all, Forest
  • #603
  • Feb 16, 2010 11:55am Feb 16, 2010 11:55am
LG

I see you are on-line now (1253 est).

Quickly, it seems YOU have not modified your system (screen) much since the inception. Others have, of course.

Implication here is you are still getting superior results.

Fair statement?

Best, Forest
  • #604
  • Feb 16, 2010 11:55am Feb 16, 2010 11:55am
Quoting Forest-Sea
Hi LGTJ and team on the forum --

I could have written much of your post one:...
Hello Forest-Sea and welcome to this thread. The new set up and rules are on page 24 post #346, but I suggest that you study and understand the original method's rules before moving to the new set up. Look over all of my charts and study them for understanding. Believe me there are plenty of charts . As to how many set ups per month, I don't know because price action is unpredictable. If you have any more questions, feel free to ask.
  • #605
  • Feb 16, 2010 12:01pm Feb 16, 2010 12:01pm
Ah, a post in the middle. It's why I haven't seen it yet.

Will follow your recommendation.

Blessings, Forest
  • #606
  • Feb 16, 2010 12:11pm Feb 16, 2010 12:11pm
Quoting Forest-Sea
Ah, a post in the middle. It's why I haven't seen it yet.

Will follow your recommendation.

Blessings, Forest
You're welcome. I also forgot to mention this, the original rules are on pages 1 & 2. Once you understand the rules and study my charts and explanations, then you'll be ready to move to new set up.
  • #607
  • Edited 8:20pm Feb 16, 2010 2:02pm | Edited 8:20pm
LG and friends --

At the risk of deeply embarrassing myself, (oh well . . . ) it does appear that most entries could be made using (just) the RSI and MACD set ups at the bottom of the chart.

While I surely agree attention should be given to S/R points, including TLs, it seems valid entries from the RSI and MACD have been pre-signaled from the 2MA and slope indicator.

So when will these tools add value and information for you? The slope, in particular, will be pointing your way prior to the confirmation from the RSI and MACD (won't they?).

I guess I am like some others of you. I kind of prefer a 'clean' looking chart WHEN POSSIBLE. Is it here?

Many thanks for your thoughts and wisdom, Forest

PS -- Of course, the reason here will be to keep out of less promising trades . . . perhaps I am wondering how often this purpose is achieved?

PS2 -- OK, I did find an example where the 2MA FOLLOWED the RSI and MACD. So obviously, the 2MA does serve a useful purpose, although this might be infrequent. Help is help.
  • #608
  • Feb 16, 2010 6:52pm Feb 16, 2010 6:52pm
Sorry for the heavy load of questions. This will quickly subside.


I must have missed it, but what 24 hour period is generally being used by you traders? Mine is currently set at GMT +1 around the end of NY trading.

What has proven itself?


Thanks, Forest
---------------------
  • #609
  • Feb 16, 2010 7:11pm Feb 16, 2010 7:11pm
Quoting Forest-Sea
I must have missed it, but what 24 hour period is generally being used by you traders?
What has proven itself?

---------------------
Not quite sure what it is your looking for...

Are you looking for a particular DAY of the week that we look @ set-ups?

If so, It could be everyday.

If you are looking for a time WITHIN a day that we look for set-ups, I can tell you that MY daily candles roll over @ 5 P.M. Central time. So anytime after 5 I will look for valid set-ups that have formed over the day.

Don't know if I understood ya correctly there Sea?

If not, hit me up and let me know man!
  • #610
  • Feb 16, 2010 8:28pm Feb 16, 2010 8:28pm
Your note helps. I guess whenever OUR D1 candle closes, mine at 3 pm PST,we take a look at possible positions.

I had originally thought all might set up a D1 candle opening and closing at the same time to look at identical candles.

Best, Forest
  • #611
  • Feb 16, 2010 8:31pm Feb 16, 2010 8:31pm
Quoting Forest-Sea
I guess whenever OUR D1 candle closes, mine at 3 pm PST,we take a look at possible positions.
Nail on the head Forest-Sea!
  • #612
  • Feb 16, 2010 8:52pm Feb 16, 2010 8:52pm
If any one is out there, looks to me like we may soon get a qualified entry on the U.J. at around 90.50 high close of the daily bar that closed today.

RSI and MACD look good, and the weekly trend has also turned up.

Any barriers to entry?
Possibly: (1) the 50 is not too far overhead, but room for some pips, (2) some [minor] resistence isn't for above.

Forest
  • #613
  • Feb 16, 2010 9:12pm Feb 16, 2010 9:12pm
Quoting Forest-Sea
If any one is out there, looks to me like we may soon get a qualified entry on the U.J. at around 90.50 high close of the daily bar that closed today.

RSI and MACD look good, and the weekly trend has also turned up.

Any barriers to entry?
Possibly: (1) the 50 is not too far overhead, but room for some pips, (2) some [minor] resistence isn't for above.

Forest
The valid signal appeared on 2/12/10.
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy d1.gif Size: 37 KB
  • #614
  • Feb 16, 2010 9:43pm Feb 16, 2010 9:43pm
Quoting lgtj
The valid signal appeared on 2/12/10.
Attachment
wait and see...
Lazy Forex
  • #615
  • Feb 16, 2010 9:46pm Feb 16, 2010 9:46pm
Thanks, LG.

I am trying to figure out why my Alpari MT4 platform did not yield a complete signal until today.

I did get the arrow on 2/12 but the RSI 50 standard was not eclipsed until this candle closed. Unfortunately, the my chart is lagging at bit with seemingly the same settings (RSI = 8, MACD = 12,26,9). . . OK, I see you moved with your buy on a touch of the two lines. I thought we wanted to clear them. Bad reading on my part. Helpful! That would have moved my entry to 2/15 . . . better, at least.

I don't want to be several days behind.

Best to you, Forest
  • #616
  • Feb 17, 2010 12:13am Feb 17, 2010 12:13am
Quoting Forest-Sea
Thanks, LG.

I am trying to figure out why my Alpari MT4 platform did not yield a complete signal until today.

I don't want to be several days behind.

Best to you, Forest
I would guess that more likely than not it is because Lg uses IBFX which paints a Sunday candle....This does throw off daily indicator strategies a bit.

Try to also D/L and load up the system in IBFX and see if it yeilds the same results as in Lg screen-shot.

Let me know if this still does not fix the difference!
  • #617
  • Feb 17, 2010 8:34am Feb 17, 2010 8:34am
Do you have the 2MA indicator properties set up correctly? When I started using this method my arrow was coming up at different points and realised that was the reason.
  • #618
  • Feb 17, 2010 9:02am Feb 17, 2010 9:02am
2MA looks ok. Does seem to be the sneaky Sunday surplus candle.

Thanks, guys, for your suggestions.

Forest

Hey, Short, time for you to hit the rack and grab some sleep Downunder.
  • #619
  • Feb 17, 2010 5:05pm Feb 17, 2010 5:05pm
Might really be for Zoot or Maklla (post 415 area)

I noticed you did some smaller TF trading around the holidays. I know it requires more attention and it's not for huge pipshakes, but I am curious as to your comfort and level of success when you were at H1-H4-D1?

I do have some NY trading time I could devote to this. My daily bar closes/opens at 3 pm (PST) so a little 5 am NY trading would be ok.

Thanks, Forest
  • #620
  • Feb 17, 2010 5:22pm Feb 17, 2010 5:22pm
Quoting Forest-Sea
Might really be for Zoot or Maklla (post 415 area)

I noticed you did some smaller TF trading around the holidays. I know it requires more attention and it's not for huge pipshakes, but I am curious as to your comfort and level of success when you were at H1-H4-D1?

I do have some NY trading time I could devote to this. My daily bar closes/opens at 3 pm (PST) so a little 5 am NY trading would be ok.

Thanks, Forest
Nice!


For sure, we did do some lower TF stuff round the holidays. This was only because "Typical" PA is kinda out the window around that time.

At the time I was only seeking quick 20-40 pip pops. In-n-Out

This style also carried ALOT more risk though, as I'm sure you can see why.

I would still recommend only following your Daily signals direction If/When dropping down to lower TF's.

The Asian Open is more in my favorable time schedule, so this is the area (Market Opening) I traded these lower TF in most.

It can be done, for sure, as long as you are still paying attention to
and respecting the BIGGER (Daily/Weekly) trend that is making your H1 chart!

Hope this answers any questions ya had.....
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