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The Dragon

  • #141
  • Feb 19, 2010 4:01am Feb 19, 2010 4:01am
at work hoping the phone doesn't ring...
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  • #142
  • Feb 19, 2010 5:41am Feb 19, 2010 5:41am
jiva34 not waste anymore your time with this kind of methods and study!

(is an advice)
MY telegram channel: https://t.me/https://t.me/tnavieurusd
  • #143
  • Feb 19, 2010 6:58am Feb 19, 2010 6:58am
Quoting tnavi
jiva34 not waste anymore your time with this kind of methods and study!

(is an advice)
you have something to share?
  • #144
  • Feb 19, 2010 7:37am Feb 19, 2010 7:37am
This kind of trading is not for everyone, that's for sure...
But I love it.... just as much as someone loves a sport..
tennis, or golf, or whatever...
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  • #145
  • Feb 19, 2010 9:56am Feb 19, 2010 9:56am
Quoting Xivali
Right so here's my system in brief.

I utilize a pair of 50 period simple moving averages of the high & low.
These then create my channel.

This channel is where I see the similarities in our systems.

I then wait for a candle to open and close below/above the lower/upper channel band.

If a candle opens and closes below the lower band, that is my signal for a short (sell).

If at any point in time the candle closes back within the channel, I exit my position.


I use various Fibonacci points where I move my stop loss to/from.
The...
gonna get a lot of false signals...... how do you differentiate?
  • #146
  • Feb 19, 2010 10:08am Feb 19, 2010 10:08am
off course men.

look:

http://img693.imageshack.us/img693/6182/ejemplok.jpg

there is nothing better than analyzing the price in this way
MY telegram channel: https://t.me/https://t.me/tnavieurusd
  • #147
  • Feb 19, 2010 10:32am Feb 19, 2010 10:32am
Quoting okfx
Jiva, I have tried adding the Macd lines on the DSS but I don't know if you noticed already, the Macd lines shift vertically when you scroll the chart. After the fact, they look perfect but are actually misleading unless in a separate panel.
I am using a Stochs 30,9,9 (just the main line) on top of my DSS 10/60 on the 1m chart. Less clutter. I find faster Stochs like 14,3,3 confusing and misleading as well. They are better with higher timeframe charts. This one catches the bigger moves and is great with divergence, both by itself and with DSS.
On...
Re: strengthmeter.. (the link you uploaded doesn't work, googling it works though)
nice tool for surveying the pairs. I strictly trade the EURUSD so not practical for me.
dss 10/60 a little too slow for me. I want to try to capture small moves.
Faster is better for that even on 1m charts.
  • #148
  • Feb 19, 2010 3:54pm Feb 19, 2010 3:54pm
Quoting Xivali
Right so here's my system in brief.

I utilize a pair of 50 period simple moving averages of the high & low.
These then create my channel.

This channel is where I see the similarities in our systems.

I then wait for a candle to open and close below/above the lower/upper channel band.

If a candle opens and closes below the lower band, that is my signal for a short (sell).

If at any point in time the candle closes back within the channel, I exit my position.


I use various Fibonacci points where I move my stop loss to/from.
The...
Thank you much for such a clean simple trading strategy.
Have been practicing using a 5 ema channel offset 2.
With the in and out system you described.
Very nice.
No offense to any dragon of course.
But the simplicity of catching "his moves" in this way is very attractive.
I can see how it is possible to catch many pips by finding good entry, being able to stay in the trade and a suitable exit.
Very nice indeed.
Thanks again for passing this along.
Will definitely be trying this on live demo and in simulation.
Simplicity is best...
  • #149
  • Edited 4:39pm Feb 19, 2010 4:12pm | Edited 4:39pm
Quoting tnavi
off course men.

look:

http://img693.imageshack.us/img693/6182/ejemplok.jpg

there is nothing better than analyzing the price in this way
I'm not completely stupid, I am well aware of the superiority of price action in determining direction.
Just to say a negative is not complete, a positive alternative needs to be there.
Do you have a strategy to go along with the chart? Something you can share to help viewers along.
We are interested...
  • #150
  • Feb 19, 2010 8:35pm Feb 19, 2010 8:35pm
I tried your dragon method since i am also a dragon. I am quite amazed with the result. I might consider using it for stock.

I caught a Dragon trade for EUR USD using the M15 chart. when it bounced to 1.35, then i ride it for 100 pips.

Nice work.
  • #151
  • Feb 20, 2010 12:45am Feb 20, 2010 12:45am
Quoting tradedragon
I tried your dragon method since i am also a dragon. I am quite amazed with the result. I might consider using it for stock.

I caught a Dragon trade for EUR USD using the M15 chart. when it bounced to 1.35, then i ride it for 100 pips.

Nice work.
happy to hear...

A system is only as good as the trader trading it.... kudos...
  • #152
  • Feb 20, 2010 1:33am Feb 20, 2010 1:33am
Quoting Xivali
Right so here's my system in brief.

I utilize a pair of 50 period simple moving averages of the high & low.
These then create my channel.

This channel is where I see the similarities in our systems.

I then wait for a candle to open and close below/above the lower/upper channel band.

If a candle opens and closes below the lower band, that is my signal for a short (sell).

If at any point in time the candle closes back within the channel, I exit my position.


I use various Fibonacci points where I move my stop loss to/from.
The...
some simulation practice with the channels..
I have put a shi channel on the chart also and I like my macd with crossing alert.
So the template is little crowded. but everything says something, there are no useless decorations...
for exiting I am noticing that exiting if a close below the low channel occurs will keep me in a trade rather than exiting if there is simply a close within the channel, little more risk there so I will keep an eye out for that... The 2 examples on the screenshot show how I would have been out of the trade and missed some nice upside if I had exited simply on a close within the channel.
Your original settings, 50 ma simple hi/lo channel is very nice.
Of course, because of my nature, I had to try a bunch of settings, shiftings, ma types, so on and so on... but the 50 sma seems very good..
I like to use the woody pivots, s/r for targets. not so much the Fibonacci, although I will slap a Fib on the chart every now and then...
thanks for sharing this....
This is like seeing the dragon in xray vision.
http://t1.gstatic.com/images?q=tbn:N...emask_xray.jpg
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Attached File(s)
File Type: mq4 SHI_Channel_MTF_Mod.mq4   7 KB | 327 downloads
File Type: ex4 SHI_Channel_MTF_Mod.ex4   10 KB | 344 downloads
  • #153
  • Feb 20, 2010 7:16am Feb 20, 2010 7:16am
Am seeing some real potential "channeling" the dragon
Pretty potent stuff...
using the 50 sma low as the trailing stop,
and the break above 50 sma hi, marked by an open and a close above the 50 sma hi as the entrance for a long...
keeping an eye out for woody pivots and s/r which tend to be good targets and launching pads.
kudos to Xivali, the junior member who is trading rings around old timers...
and so graciously has given his secrets for free.
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  • #154
  • Feb 20, 2010 8:59am Feb 20, 2010 8:59am
Have a little time today, so what am I doing? Practicing and researching trading, what else?
Very impressive results with the channel...
This technique could be just what I have been looking for...
Will need to have more confidence in the system so I don't exit too early.
this will come with practice no doubt. Another way is to open multiple lots and do a series of partial exits on the way to the target.
Another really good aspect of the channels is that if for one reason or another the trade turns bad, even when first entering the stop will only be at the 50sma which will be relatively nearby... = small loss.
And because the stop trails the 50sma the amt of possible loss will only decrease as the trade progresses.
Another plus, guaranteed to always be on the right side of the trade......
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  • #155
  • Feb 20, 2010 9:16am Feb 20, 2010 9:16am
http://t3.gstatic.com/images?q=tbn:9...py-crowd-o.jpg
Everyone thanks you, Xivali...
  • #156
  • Feb 20, 2010 9:23am Feb 20, 2010 9:23am
I just happened to be still looking at the charts after New York close when the feds did the surprise discount rate hike.
I usually just shut everything down after New York, Sydney is always slow.
But there it was. The big move and I just happened to have a short in place that I was getting ready to close out for a small loss, since I didn't want to hold it over to London. I had a limit order in place and it got taken out in a flash. Then the servers jammed (what what else is new?) and I couldn't back to the broker. Ugh..
Finally the site came back up and the dragon said go for it...
All said and done I caught the 100 pip move.
That was just luck being there then. I never keep the system up at that time of day.
  • #157
  • Feb 20, 2010 10:18am Feb 20, 2010 10:18am
Hi Jiva,

thanks for your outstanding work! This looks a lot like a strategy I am following anyways - I love HA, too.
I'll dig through the pages this week.

best regards,
tradeigel.
  • #158
  • Feb 21, 2010 7:35am Feb 21, 2010 7:35am
more simulator trades.

Again a testing of the stop that follows the 50 sma in this case 50 sma hi, confirms the continuation of the downtrend and also offers an opportunity to put fresh short positions in place.
And again by following the 50 sma as the stop all the gains possible from the move are captured. I exited early because of s3 and the macd cross.
s3 on the downside and r3 on the upside are usually about as far as the dragon will go in a day. Maybe he'll push past a bit, but then he tends to come back in if he goes beyond. That is a pretty big move for him. To go from the pivot point to s3 is really extreme.

these practices are catching the USDCAD during some big moves. I will need to find more sedate sessions to see about false signals.
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  • #159
  • Feb 21, 2010 8:19am Feb 21, 2010 8:19am
This is what I wanted to find out. False signals.
Lots of false breakouts. How to tell the difference????
Can catch a big trend but the consolidations are murder and false breakouts are murder.
maybe a retest of the 50sma is a better entrance after a consolidation.
for long, the ashi opens and closes above the 50 hi, but wait for the dragon to comeback to the 50 hi, if he doesn't close below the 50 hi on a retest it's safe to enter long on the next candle that opens and closes above the 50 hi?
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  • #160
  • Feb 21, 2010 8:40am Feb 21, 2010 8:40am
looking at USDJPY maybe a set up for mkt open
will keep an eye on this to see what happens.
It's a little weird because the signal appeared just as the mkt was closing on Friday afternoon.
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