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ALF/TVI - Simple, effective daytrading

  • #281
  • Edited 8:14am Apr 7, 2010 7:55am | Edited 8:14am
Up to now I have not been posting my losing trades but here's one from this morning. Short EU at 1.3339 12:15 GMT. An unsuccessful attempt to ambush a downtrend... -12 pips.

Exited due to TVI reversal and upward break of ALF.
Attached Image (click to enlarge)
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Old Benjamin was right
  • #282
  • Edited 8:23am Apr 7, 2010 8:12am | Edited 8:23am
+52 pips, two shorts. In fact I missed one signal for long in early morning GMT+2 (about 10-15 pips to win).

Im using ALF as support/resistance for price action, it's a very good indicator for this.

J.
Attached Image (click to enlarge)
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Audaces fortuna iuvat !
  • #283
  • Apr 7, 2010 8:23am Apr 7, 2010 8:23am
Quoting chojnak
+52 pips, two shorts. In fact I missed one signal for long in early morning GMT+2 (about 10-15 pips to win).

Im using ALF as support/resistance, it's a very good indicator for this.

J.
Good trading, J.
Old Benjamin was right
  • #284
  • Apr 7, 2010 8:31am Apr 7, 2010 8:31am
Lou G, thanks.
Unfortunatelly Im a 'roller coster trader', I earn many pips when I have a good day and lose too much when my mind goes away.

I wish some day I'll handle with it, just some day...

Keep working Lou G, it's a good system

J.
Audaces fortuna iuvat !
  • #285
  • Apr 7, 2010 8:47am Apr 7, 2010 8:47am
Hi Lou
Thanks for your valuable contribution, generousity, and help. I consider this system a great addition for newbies like me.. I hve just notied a perfect setup on AUD-USD on 15M. What do you think Lou.

Kind Regards ForexZak
  • #286
  • Apr 7, 2010 9:03am Apr 7, 2010 9:03am
Quoting forexzak
Hi Lou
Thanks for your valuable contribution, generousity, and help. I consider this system a great addition for newbies like me.. I hve just notied a perfect setup on AUD-USD on 15M. What do you think Lou.

Kind Regards ForexZak
Hi there,
Yes AUDUSD had a good setup. But i would take it after the second bar closed above ALF, as a confirmation of good signal was a cross of zero line by TVI.
Cheers
The Road appears under the steps of walking men...
  • #287
  • Edited 9:19am Apr 7, 2010 9:04am | Edited 9:19am
Quoting forexzak
Hi Lou
Thanks for your valuable contribution, generousity, and help. I consider this system a great addition for newbies like me.. I hve just notied a perfect setup on AUD-USD on 15M. What do you think Lou.

Kind Regards ForexZak
You're welcome. I don't follow AU so I don't have a chart handy but good luck...

Post a chart so we can see your trade.
Old Benjamin was right
  • #288
  • Apr 7, 2010 9:16am Apr 7, 2010 9:16am
Hello Lou G,
I would like to find out is it possible to add signal (alert) to TVI to have alert on zero cross and to ALF for Price cross?
Best Regards
The Road appears under the steps of walking men...
  • #289
  • Apr 7, 2010 9:23am Apr 7, 2010 9:23am
Quoting Soondoock
Hello Lou G,
I would like to find out is it possible to add signal (alert) to TVI to have alert on zero cross and to ALF for Price cross?
Best Regards
There is already an alert on TVI when color changes - I'm still not quite ready to give the zero cross the emphasis some feel it deserves, only because I have seen so many setups where that would have been a "way too late" place to trade.

Also not sure about an alert for ALF due to the potential for a signal almost every bar when PA is in a tight range.
Old Benjamin was right
  • #290
  • Apr 7, 2010 9:26am Apr 7, 2010 9:26am
Quoting Lou G
There is already an alert on TVI when color changes - I'm still not quite ready to give the zero cross the emphasis some feel it deserves, only because I have seen so many setups where that would have been a "way too late" place to trade.

Also not sure about an alert for ALF due to the potential for a signal almost every bar when PA is in a tight range.
I was asking because I am not a full time trader and work in office and have to do other stuff also. So this is just for the "pay attention" purposes.
Any way I hope you would not mind if I ask coders to do it ?
The Road appears under the steps of walking men...
  • #291
  • Apr 7, 2010 9:32am Apr 7, 2010 9:32am
Quoting Soondoock
I was asking because I am not a full time trader and work in office and have to do other stuff also. So this is just for the "pay attention" purposes.
Any way I hope you would not mind if I ask coders to do it ?
No problem.
Old Benjamin was right
  • #292
  • Apr 7, 2010 9:33am Apr 7, 2010 9:33am
Support around 1.3340, resistance at 1.3360. EU seems to be in a fairly tight range. I may hang it up for today.
Old Benjamin was right
  • #293
  • Apr 7, 2010 9:39am Apr 7, 2010 9:39am
Same view Lou G,
I made only 1 trade today was greedy and as a result closed at BE.
The Road appears under the steps of walking men...
  • #294
  • Apr 7, 2010 10:10am Apr 7, 2010 10:10am
HI Lou, i'm the new recruit from far east. Find your system simple to follow. As i had just finnish reading this tread, shall be putting in some screen time to check this out. Thanks for sharing.
  • #295
  • Apr 7, 2010 10:27am Apr 7, 2010 10:27am
what do you guys think of long EU and GU now?

see attach
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Click to Enlarge Name: Capture1.JPG Size: 95 KB
  • #296
  • Apr 7, 2010 10:39am Apr 7, 2010 10:39am
Heavy resitance short term at 1.3372-1.3380 on the EU...flat look to the TVI as well...


Quoting KPForex
what do you guys think of long EU and GU now?

see attach
I get exercise just pushing my luck
  • #297
  • Apr 7, 2010 10:44am Apr 7, 2010 10:44am
This may also help...

Central banks buying EUR dips

Not all the central banks have forsaken the struggling EUR/USD. An Asian regional CB has been rumored buying on the latest dip into the 1.3340s and traders see Chinese bids in the 1.3320/25 area. We could be headed that way again, now at 1.3337.


Quoting KPForex
what do you guys think of long EU and GU now?

see attach
I get exercise just pushing my luck
  • #298
  • Apr 7, 2010 10:55am Apr 7, 2010 10:55am
Hit TP 10 pips for GU... waiting for EU now...
  • #299
  • Apr 7, 2010 11:00am Apr 7, 2010 11:00am
Both EU and GU hit TP for 10 pips each.. thanks
  • #300
  • Apr 7, 2010 11:58pm Apr 7, 2010 11:58pm
Lou, been wanting to thank you again, since I'm getting more and more proficient with your method. I've added volume to the bottom of the chart that really helps--if i could have had an alert based off of it i may have been able to catch the nice move in the Asian Tues first thing. You know, I think there might be something about price action that is not clear to many of us. Don't many of us think of price action as where price has been on the chart when isn't pa really price 'behavior'? When it starts jumping around and pulling away from alf 'convincingly' as you say, It makes sense when you refer to 'screen time' being so beneficial, it just doesn't show itself in backtesting---except I remember a vhands deal that would backtest on the expert advisor that you could speed up and slow down that was pretty neat. Something I've wondered about--do you think that TVI is somehow giving us a peek at some (unseen) forex order book? I was trying to figure out how this order book thing might work when
you started this thread . Generally speaking I'm not that concerned with the underlying characteristics of tools--but what struck me initially about your thread is your excellent grasp of what's really going on here--it really seems to really help an individual successfully trade it. Well, sorry to ramble--been wanting to hear your thoughts of this for a while and to thank you again. I just need a way to get the trade of a liftetime every week or so -- ok, we can settle for monthly.
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