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ALF/TVI - Simple, effective daytrading

  • #121
  • Edited 5:52pm Mar 20, 2010 3:28pm | Edited 5:52pm
I want to thanks everyone with introducing their strategies and such. I am curious as to how you place your stops I know it depends on your account balance risk tolerant percentage account. You place stops right below/above blue ALF line as Lou stated and Lou or anyone do you place behind the last bar close below/above blue line thanks.

I would use mini lots of 2 and after 10 pips let the other pip run move my stops to break even. However, I am studying other strategies demo.
  • #122
  • Mar 20, 2010 9:18pm Mar 20, 2010 9:18pm
Quoting wapminnin
I want to thanks everyone with introducing their strategies and such. I am curious as to how you place your stops I know it depends on your account balance risk tolerant percentage account. You place stops right below/above blue ALF line as Lou stated and Lou or anyone do you place behind the last bar close below/above blue line thanks.

I would use mini lots of 2 and after 10 pips let the other pip run move my stops to break even. However, I am studying other strategies demo.
Actually, I have not been following my own advice - I've been using a flat 20 pip stop on my trades.

Just above/below the ALF is a good general rule but use common sense - if price is 50 pips away from ALF, you probably don't need that large a stop. Conversely, 10 pips is probably too little.
Old Benjamin was right
  • #123
  • Mar 21, 2010 1:54am Mar 21, 2010 1:54am
Hi Lou G,

Thank you for sharing strategy. Just fininsh reading thread and will start trading this strategy Monday morning. Will post results here.

Cheers,
  • #124
  • Mar 21, 2010 6:58am Mar 21, 2010 6:58am
this is amazing, how this system is rated so quickly, it started on the 16th march and 4 days later it is a 5-star rating.

Does that attest to the effectiveness and simplicity of the system as day trading strategy?

kos
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John 3:16 - From THIS love no power on earth can me sever.
  • #125
  • Mar 21, 2010 9:05am Mar 21, 2010 9:05am
Quoting Kosomolate
this is amazing, how this system is rated so quickly, it started on the 16th march and 4 days later it is a 5-star rating.

Does that attest to the effectiveness and simplicity of the system as day trading strategy?

kos
I don't know how the rating system works. I'd like to think that the method works for many as well as it does for me - I'm not that good as a trader and developed this to keep me from overtrading and only taking trades with a good chance of success.
Old Benjamin was right
  • #126
  • Edited 11:59am Mar 21, 2010 11:41am | Edited 11:59am
thanks for the suggestion Lou. As far as 5 star ratings. I know so far it works good for me I use TRO_SupReshhill for support resistance level I found from some where on the forex factory forum. THis way I won't buy near the resistance area or support. usually I see I think this style or method is used not necessarily to ride the wave but to get in with high degree percentage the trade will move in your favor and be happy with 10-25 pips unless you are glued to the screen for longer periods to follows. It used like SMA moving average but much smooth.

My goal is to see if I can use eur/usd and another pair or two in order to achieve about same number of pips but will shall see if time permits.Otherwise, I will try to find a part time job to trade around the less activity trading hours that fit my schedule. If anyone having success trading other pairs let us know.

Hope everyone success and keep it simple and don't overtrade.Use small micro lots to get a feel for it. I have a separate account for trading micro lot like 10cents a pip so i can be "live " feel of trading while experimenting. this is my way of "demo".
  • #127
  • Mar 21, 2010 10:51pm Mar 21, 2010 10:51pm
The screen shot below was taken Sunday night (when I wouldn't be trading anyway) but it's a great example of what "Do Not Trade Now" looks like, no matter what time of day you see it. No correlation between M15/H1, two horizontal ALFs, etc.
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Old Benjamin was right
  • #128
  • Mar 22, 2010 4:23am Mar 22, 2010 4:23am
thanks for posting the TVI indicator. I am adding this to one of my templates and has shown to close out trades very well.
This will be a handy tool to help improve my trading.
Cheers
  • #129
  • Mar 22, 2010 6:51am Mar 22, 2010 6:51am
Morning all,
Just thought I'd post a little 5 pip sclap to start the week off on the right foot.
Although ALF is flat on both the 1h and 15m, this was taken as a scalp. SL is break of last Lower High.
Short entry from break of center BB. Price is south of ALF and TVI is pointing down.
There may be more in this trade but I took it with the intent of gaining 5 pips from the trade and closed it accordingly.
Good trades to all this week.
Cliff
Attached Image (click to enlarge)
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I get exercise just pushing my luck
  • #130
  • Edited 8:26am Mar 22, 2010 8:09am | Edited 8:26am
I'm short EU at 1.3489 as of about 20 minutes ago - let's see...

EDIT: I bailed out at 1.3472 for net +15 pips.

There was strong support at 1.3500 going back to last week. That was broken eventually and, when TVI turned down on H1 I took the trade.
Attached Image (click to enlarge)
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Old Benjamin was right
  • #131
  • Mar 22, 2010 8:44am Mar 22, 2010 8:44am
Quoting cce
Morning all,
Just thought I'd post a little 5 pip sclap to start the week off on the right foot.
[size=4]Although ALF is flat on both the 1h and 15m, this was taken as a scalp....
Nice play, Cliff.

As you can see, I did something very similar a bit later.

The astute will notice that I did not wait for my own exit rules to take effect. My reason? Mondays can sometimes be a bit jumpy with a lower daily range than other days of the week - just a "feel" thing, really.

Going back to an earlier post, this may prove to be a premature bailout but I steadfastly refuse to feel bad about pips left on the table if I have made a decent profit on the trade. This may not be the end - there could still be a retracement.
Old Benjamin was right
  • #132
  • Mar 22, 2010 10:38am Mar 22, 2010 10:38am
EU appears to have settled into ranging rather than trending. I think I'm done for the day.

Those who traded the M15 without looking for H1 confirmation probably did better than I did - perhaps this is true in ranging markets. Time will tell.
Old Benjamin was right
  • #133
  • Mar 22, 2010 11:22am Mar 22, 2010 11:22am
Quoting Lou G
EU appears to have settled into ranging rather than trending. I think I'm done for the day.

Those who traded the M15 without looking for H1 confirmation probably did better than I did - perhaps this is true in ranging markets. Time will tell.
Seems like professionals are accumulating below 35
/ ... clarifying decisions ... /
  • #134
  • Mar 22, 2010 11:29am Mar 22, 2010 11:29am
Quoting walb99
Seems like professionals are accumulating below 35
I'm not very well-versed in VSA so I can't reliably identify accumulation unless someone calls my attention to it
Old Benjamin was right
  • #135
  • Mar 23, 2010 9:39am Mar 23, 2010 9:39am
Took +15 pips net during the 09:15 candle (and after the news activity).

I'm not totally satisfied with the exit strategies for this method (as I've found that I generally don't wait for them) so I'll devote some time to improvement.

On the whole I'm very comfortable with trading this strategy. The results speak for themselves - 7 trading days, 8 wins, 1 loss.
Attached Image
Old Benjamin was right
  • #136
  • Mar 23, 2010 3:47pm Mar 23, 2010 3:47pm
well here is one I took not sure if I followed the rules per se. I use my own exit rules but the entry as far as I know was by the book. Almost 50 pips on the trade
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  • #137
  • Mar 23, 2010 7:29pm Mar 23, 2010 7:29pm
Quoting kodflakes
well here is one I took not sure if I followed the rules per se. I use my own exit rules but the entry as far as I know was by the book. Almost 50 pips on the trade
Looks good to me - the rules (such as they are) aren't all that rigid.
Old Benjamin was right
  • #138
  • Mar 24, 2010 4:38am Mar 24, 2010 4:38am
Lou, Thanks for sharing your setup.
Can you go over your exact entry rules again? Sorry but I've read the whole thread and still not sure.
Also how do you put 2 indi's in 1 window.
Barry
  • #139
  • Mar 24, 2010 4:47am Mar 24, 2010 4:47am
Quoting Bary
Lou, Thanks for sharing your setup.
Can you go over your exact entry rules again? Sorry but I've read the whole thread and still not sure.
Also how do you put 2 indi's in 1 window.
Just drag and drop both of them in the same window.
  • #140
  • Mar 24, 2010 7:36am Mar 24, 2010 7:36am
Quoting Bary
Lou, Thanks for sharing your setup.
Can you go over your exact entry rules again? Sorry but I've read the whole thread and still not sure.
Also how do you put 2 indi's in 1 window.
http://www.forexfactory.com/showpost...32&postcount=7

Long when PA breaks above ALF and TVI is up - reverse for short. Best if ALF is deviating from horizontal in direction of trade.
Old Benjamin was right
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