First of all thank you very much Clay for sharing your trade strategies. You did a great, great job in presenting the material and giving continued support in this thread. You must have tons of hours into this and I appreciate your efforts. Also thx to all the others that have contributed as well. I find it amazing that a person can find tons of successful forex trading systems for free. I can't say the same for most other markets, everyone wants big $$$ for their systems.
I’ve looked at several systems offered here at FF and this one jumps out at me. The way the manual and info was presented is very thorough and professional. I’ve paid for systems less professional. Another thing I really like is I can setup my charts on another platform
I've read everything and will continue to follow this thread so I can perfect these strategies and get all my questions answered. I will be trading live (I just can’t learn anything sim trading) so I'm sure I'll have some questions as I progress.
For now I just need help with one thing. The scripts don't seem to work on my Demo MT4. Nothing happens when I ”execute on chart”. I put in all the setting as per manual. I've never used scripts before so I don't know how to use them. Even though I'm trading live on another platform, I would like to practice on the MT4.
Sorry about the long post. Thanks again for everyone’s help.
Barry
Hi Barry, not sure what might be stopping the script, but you shouldn't have to do anything but click, hold and drag the script to the chart you want to execute it on and drop it. OR, make sure the chart you want to execute on is "active" by seeing that it is the highlighted chart, then double click the script for a sell or buy.
Check the settings under Tools-> Options -> Expert Advisers,,, then make sure everything is checked to allow it all to function. THAT SHOULD allow the scripts to fire for you.
I did a bit of analysis on today's trades and this is what I found. The "one chart" setup with the higher time frame "equivalent" moving averages really looks good, BUT the missing ingredient in the "sauce" doing it that way is P/A on the higher time frame charts.
You just cannot trade effectively without actually "seeing" that P/A and knowing, more or less" how it will affect the movement of price on M15. For example, a pin bar "by our definition" on H1, is really powerful and will probably override what is happening on M15. A pin bar like that on D1 will probably override H1 and so on.
The "lines" drawn on the charts by the Moving Averages are really accurate as the strategy and all the posted trades prove. Here is the problem, when you don't "see" that P/A, you are more or less flying blind.
I make mistakes, but today really threw me that I made so many in such a short period of time and then the charts just quit making sense for a while. But, when I went back to the basic three time frame setup, all of a sudden I could "see" again.
SO,,,, BACK TO THE BASICS,,, If you want to use the other type of chart, go ahead, but POST using the NORMAL setup, please.
NOW,,, Not mentioning any names, and NO APOLOGIES so no one "feels" singled out. NO MORE talk of trendlines, pivots, or any other time frame other than the four acceptable "by the rules."
The MAIN setup is three charts, M15 for the signals, H1 for finding really strong "touch" and constrainment trades and D1 for the same. H1 and D1 also do a great job of showing the overall trend, and the trend of the moment.
I hate to be a stickler, but this is what made this strategy so strong and so simple, and I want it to STAY that way. We should be trying to master the simplicity, not adding additional, subjective complexity to it.
Again, I am NOT singling anyone out, but I AM going to stick the rules of the strategy and the rules of the thread from here on out. This community, FF, not just this thread needs a very, very simple, easy to "see" and master strategy that anyone from newbies to the very experienced can benefit from.
Thank you in advance, we have a great community of traders on this thread, and I have received numerous P.M.s from many about how simple the strategy is, and how "friendly" the thread is. Let's keep it that way.
I'm also going to post more after the trade is completed, instead of during it as it detracts from my personal focus on trading. I will still answer all the questions I can.
God bless, thanks for all the input, and all the encouragement.
Clay
Eclayf, as you can see this is my first post & it looks like you got a knack of bringing the first time posters out of the closet... Anyway, everybody had to start with their first post.
Been lurking on FF for a while now & my biggest hurdle so far has been to stick to one system. Off course there are many good ones, but what you're doing here - teaching us PA with the help of ma's - is great stuff. Thanks mate. I think I must just delete all those fancy indicators in MT & then I won't be tempted.
Re the scripts: I'm having the same problem & maybe it's because we're using 5 digit brokers. I might be wrong but maybe a script guru can check it out.
I think I must just delete all those fancy indicators in MT & then I won't be tempted.
Ignored
Very interesting comment. I had literally searched out over 1800 indicators with not a single duplicate in them. I have read tons and tons of books about trading, "The Law of Charts," "Forex Surfing," so many I literally can't remember them all and about 80 or so complete systems for trading, all different, as I explain the the "Learning to Dance" document and I have been slowly going back through them to see if there was any REAL value in any of them.
Today, I threw them ALL in the recycle bin, and emptied it, then defragged my hard drive. The ONLY thing I kept was my copies of "Think and Grow Rich," "Trading in the Zone" and "The Greatest Salesman in the World," all of which have as their main focus,
Never give up
Stay positive
BELIEVE YOU CAN
Use creative visualization
Be creative
Love what you are doing
NEVER GIVE UP
That is the main focus of this thread really. The trading strategy is merely an outgrowth of that. NOW, I will only use the basic setup and begin again to master my trading.
Re the scripts: I'm having the same problem & maybe it's because we're using 5 digit brokers. I might be wrong but maybe a script guru can check it out.
Ignored
I ran into the five digit issue once before, but forgot about it. SO, if you have a five digit borker, that is the problem because it means that the Script is trying to execute and set a SL at 1.9 pips instead of 19 and of course, MT4 does not allow that tight of an SL.
I have included the process to fix this in the new versio of the manual I am working on, but here are a coupe of modified 5 digit scripts.
Today, I threw them ALL in the recycle bin, and emptied it, then defragged my hard drive. The ONLY thing I kept was my copies of "Think and Grow Rich," "Trading in the Zone" and "The Greatest Salesman in the World," all of which have as their main focus,
Never give up
Stay positive
BELIEVE YOU CAN
Use creative visualization
Be creative
Love what you are doing
NEVER GIVE UP
That is the main focus of this thread really. The trading strategy is merely an outgrowth of that. NOW, I will only use the basic...
Ignored
So true. We get so caught up in all this info that we forget to keep it simple & master one strategy. I tried many of the systems on FF & it's always the same. Grab the indicators & template, throw it in MT, do a couple of trades, loose money - OK next... Do it over & over & before you realize, you have no more confidence to pull the trigger.
I ran into the five digit issue once before, but forgot about it. SO, if you have a five digit borker, that is the problem because it means that the Script is trying to execute and set a SL at 1.9 pips instead of 19 and of course, MT4 does not allow that tight of an SL.
I have included the process to fix this in the new versio of the manual I am working on, but here are a coupe of modified 5 digit scripts.
Ignored
Thanks - I managed to fix it. Added an extra 0 to the TP & SL. Also noticed that the moneymanagement tries to open 1.21 lots, so I just made it false for now & it works.
Hopefully I can contribute with some trades soon, but first a defrag...
Eclayf, now that you mention it I changed moneymanagement back to true & it's working fine. While I was struggling to get it sorted, I enabled manual confirmation & saw that the Sell/Buy buttons were grayed & noticed 1.21 lots.
Not sure what happened, but working fine now - thanks. Guess I must stop messing with the scripts & concentrate on WHEN to use them....
Just wanted to say that your posts have helped me a great deal. Have only just discovered an interest in trading over the last month when a friend introduced me to the idea. Have been paper trading for about three weeks now and trying out a fair few strategies. Yours is easy to understand with a great scope for making it your own.
Took 37 Pips shorting GBPUSD this morning using it.
And thanks for including trading in the zone. was gonna go and buy it anyway.
Am going to go live soon with a very small acount... will try and post some updates of my progress as and when I can.
Glad it's helping you theminista. It's helping me as well to do all this.
Now for a trade I just took. This is a six image sequence, so if it gets interrupted, just go to the next sequence for the exit and more reasoning of it all.
I was able to get another small "fine tuned" entry. Exited for +10 pips or so bringing my total today to +40.
The whole point of that last set of images was that the basics are all we need of this Strategy to make really good pips each and every day.
IT WILL require patience, but the payoff is absolutely huge in the way of successful trades.
Haven't seen any of the regulars post from last night, but I hope they are all still here and will post some of their trades, but stick to the basics for the sake of learning consistency for everyone, myself included.
I apologize for being so strict about using just the basics and only what's in the manual, but I have learned from experience it's very easy to lose one's focus and end up taking trades that kill the account instead of build it and that is what I want us all to master, building our accounts with the basics consistently, day after day, week after week,, month,, year and so on.
I'm off now for the weekend. I will check in from time to time to see if there are any posts that need some clarification or review of a chart.
I have been working on revising the manual to reflect some refinements in the rules for "touch trades" and to include the great scripts Swingman gave us to make trading a bit easier.
Below are the new revised and cleaned up Manual and the new "Dance Tools" Zip file. You will notice the manual is a bit smaller, partly because of the "clean up" I did, and partly because of all the images now on FF I was able to use fewer trade examples in the Manual.
The Tools Zip has a new profile in it to reflect the basic chart setup I will be sticking to personally. You are free to use this version, or the old one from page 1. There is also an excel spreadsheet that can calculate the number of pips to trade based on the risk you want to use. IT then projects out the account balance growth. Of course it doesn't take bad trades into account, but it's a good way to "plan" a bit, just don't get too carried away with it.
This page will be linked to on Page 1, but for now I am leaving up the old manual as later I will be doing an "Advanced Rules" addition to the manual that will include trading ranges a bit more, and talk more of S/R level tracing using the Wicks.
I haven't made any changes to the other files on page 1.
For now, enjoy and I hope this helps your trading, it has mine in creating it.
Unfortunately the PDF is larger than FF allows. Sometimes the links in the thread have a .php behind them and then can't be opened. Click the link at the top right of the thread and it will open a window with just the attachments in it. Then if you can't find it, click the link "hide images" and all you will see are the zip files and other files attached, like Swingman's indicators and the scripts. You should be able to find the new manual there pretty easily.
I was able to get another small "fine tuned" entry. Exited for +10 pips or so bringing my total today to +40.
The whole point of that last set of images was that the basics are all we need of this Strategy to make really good pips each and every day.
IT WILL require patience, but the payoff is absolutely huge in the way of successful trades.
Haven't seen any of the regulars post from last night, but I hope they are all still here and will post some of their trades, but stick to the basics for the sake of learning consistency for everyone,...
Ignored
hey am i considered a regular? haha. somehow i dont trade fridays. when i 1st started out learning forex via babypips, they were against trading on fridays, calling them stop hunter days where markets move w/o reason. so i chose to trade only 4days a week which is fine cos fri is a family day for me. and thats y i chose to enter forex. to be able to live life to the fullest with my family and partner. its kinda sad to see my buddies slogging 10-12hrs a day and when they are home, they are too tired to interact with their families and on weekends they sleep endlessly to catch up with all that lack of sleep on weekdays. i will never want to lead that kind of life. ur life story and trading journey(in the manual) is rather similar to mine and thus i was inspired to stick to this thread as my main strategy. still visually trading constrainments though(havent really got a hang of them) and having some success with touch trades. will try to revert back to the 3 TF format like u.. altho i have been gettin really comfortable with all the MA equivalents on the 15min.
