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Attachments: ALF/TVI - Simple, effective daytrading
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ALF/TVI - Simple, effective daytrading

  • #301
  • Apr 8, 2010 4:50am Apr 8, 2010 4:50am
Hi Lou Very good simple system accurate with nil waffle.I use it as advised on the 5 min charts using GBPUSD GBPJPY and EURJPY gmt 7am to 2pm. And gettin good results. I have just added a Fisher Yurik histogram set at 15 for my exits, will exit when crossover off 0 line takes place not before. Keeps you in the trend. Cheers Happydave
  • #302
  • Apr 8, 2010 5:53am Apr 8, 2010 5:53am
Hello Traders,
Here is my morning trades, may be a bit risky but both closed +20 pips.
EU trade made when TVI crossed zero line under ALF
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 16 KB


EJ the same as EU trade. Also had nice setup on GU but price moved to fast so skipped it.
Attached Image (click to enlarge)
Click to Enlarge Name: ej.gif Size: 17 KB
The Road appears under the steps of walking men...
  • #303
  • Apr 8, 2010 6:49am Apr 8, 2010 6:49am
Hi Lou,
Thanks for sharing this simple system but great, Iam a new membre but i follow this system for a while. About TVI we have to wait for the changing in color for validation or also above/below 0 level ?
best regards
  • #304
  • Edited 8:27am Apr 8, 2010 8:18am | Edited 8:27am
Took +10 between 12:45 - 13:00 GMT and bailed out - very indecisive market so far.
Old Benjamin was right
  • #305
  • Apr 8, 2010 8:20am Apr 8, 2010 8:20am
Quoting gopsat77
Hi Lou,
Thanks for sharing this simple system but great, Iam a new membre but i follow this system for a while. About TVI we have to wait for the changing in color for validation or also above/below 0 level ?
best regards
There seems to be some disagreement about that - I usually trade at color change if PA moves well through ALF. Others seem to want to wait for break of zero line.
Old Benjamin was right
  • #306
  • Apr 8, 2010 9:35am Apr 8, 2010 9:35am
Kind of Wild
  • #307
  • Apr 8, 2010 9:39am Apr 8, 2010 9:39am
Another + 10
Attached Image (click to enlarge)
Click to Enlarge Name: alf.gif Size: 11 KB
Old Benjamin was right
  • #308
  • Apr 8, 2010 9:54am Apr 8, 2010 9:54am
The chart below shows why I am hesitant to base trades on the TVI zero line. Entry at the arrow was good for +20-25 pips before the zero line cross. This happens often.
Attached Image (click to enlarge)
Click to Enlarge Name: alf.gif Size: 13 KB
Old Benjamin was right
  • #309
  • Edited 10:23am Apr 8, 2010 10:20am | Edited 10:23am
Final result +25

I'm embarrassed that I did not hold out for the 25 pips - I bailed out at +11 as shown on post #308.

Still, 2 winners and +20 for the day is a decent result. I hope some of you were with me and did better than I...

London close coming up - I'm done for the day.
Attached Image (click to enlarge)
Click to Enlarge Name: alf.gif Size: 11 KB
Old Benjamin was right
  • #310
  • Apr 8, 2010 10:25am Apr 8, 2010 10:25am
I am with you Lou! I got my 20 on the EU, and 2 trades for 20 each on the GU. Very happy with 60 for the day!
  • #311
  • Apr 8, 2010 10:38am Apr 8, 2010 10:38am
Quoting forexwolf
I am with you Lou! I got my 20 on the EU, and 2 trades for 20 each on the GU. Very happy with 60 for the day!
Excellent - just goes to show that what I said in a post a while back is true. A lot of you people are much better traders than I. But, I'm getting there...
Old Benjamin was right
  • #312
  • Apr 8, 2010 11:12am Apr 8, 2010 11:12am
Those with successful trades - please take a minute to post your charts. I get the feeling that some of the less-experienced are thinking that this approach is too simple to work effectively - they need to be disabused of that notion...

Thanks
Old Benjamin was right
  • #313
  • Apr 8, 2010 12:16pm Apr 8, 2010 12:16pm
Certainly Lou!
I think the markings are pretty self explanatory, but anyone with questions please feel free to ask away. The yellow lines are where I entered and exited.
FYI, I have been trading for just over a year so I am a newbie, but I just finished reading "Trading in the Zone" by Mark Douglas, and recommend that anyone aspiring to be a professional trader read it many many times!
I have bounced around so many different "systems", and feel like I have found something that is straight forward and "easy" to trade. I feel like I have found my "edge" in the market.
Thanks again Lou!!!
Tim
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu 4-8.gif Size: 47 KB
Click to Enlarge Name: gu 4-8.gif Size: 48 KB
  • #314
  • Apr 8, 2010 2:15pm Apr 8, 2010 2:15pm
Quoting forexwolf
Certainly Lou!
I think the markings are pretty self explanatory, but anyone with questions please feel free to ask away....
You're welcome, Tim - and thanks for posting.
Old Benjamin was right
  • #315
  • Apr 8, 2010 2:36pm Apr 8, 2010 2:36pm
Hi Tim,
Thanks for posting the charts. Do you do any confirmation with H1 chart before taking trades? Thanks.

Quoting forexwolf
Certainly Lou!
I think the markings are pretty self explanatory, but anyone with questions please feel free to ask away. The yellow lines are where I entered and exited.
Tim
  • #316
  • Apr 8, 2010 2:39pm Apr 8, 2010 2:39pm
The last 2 were sized down 1/2 so I was still happy with the total.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd1.gif Size: 31 KB
  • #317
  • Apr 8, 2010 2:50pm Apr 8, 2010 2:50pm
Sorry, this is more correct---somehow those 1st 2 trades I thought there was more volume.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd2.gif Size: 31 KB
  • #318
  • Apr 8, 2010 3:28pm Apr 8, 2010 3:28pm
Quoting yesbee1
Hi Tim,
Thanks for posting the charts. Do you do any confirmation with H1 chart before taking trades? Thanks.
Hello Yesbee1,
I look at the H1 and H4 charts to see the overall trend, and the only effect that might have on my trade is weather I go for 10-15 pips (counter trend) or 20-30 pips (with the trend).
In general when I see price close above or below ALF, and there are no big numbers or strong S&R I will enter the trade. Something else I have noticed that happens quite frequently is price will breakout of the ALF, then pullback and touch the ALF then take off in the direction of the original breakout. This can be a strong indicator. It happened today which is when I entered (3 bars after the green horizontal line on the EU). This however is a bit more technical so I don't mean to confuse anyone.
As you can see from the pics I also have some arrows on there. They signify a 5,8 EMA cross. Just something I am experimenting with...
FYI... I live in California and only trade from 6:30am - 9:30am my time. I can almost always find a favorable trade setup during that time.
Thanks for the question, I'll try to be less wordy next time...
  • #319
  • Apr 8, 2010 10:17pm Apr 8, 2010 10:17pm
Hi Tim
Thank you for the info. Thanks to Lou for sharing such a simple and effective system.

Quoting forexwolf
Hello Yesbee1,
I look at the H1 and H4 charts to see the overall trend, and the only effect that might have on my trade is weather I go for 10-15 pips (counter trend) or 20-30 pips (with the trend).
In general when I see price close above or below ALF, and there are no big numbers or strong S&R I will enter the trade....
  • #320
  • Apr 9, 2010 5:01am Apr 9, 2010 5:01am
Quoting forexwolf
Certainly Lou!
I think the markings are pretty self explanatory, but anyone with questions please feel free to ask away. The yellow lines are where I entered and exited.
FYI, I have been trading for just over a year so I am a newbie, but I just finished reading "Trading in the Zone" by Mark Douglas, and recommend that anyone aspiring to be a professional trader read it many many times!
I have bounced around so many different "systems", and feel like I have found something that is straight forward and "easy" to trade. I feel like I have found...
Hi, forexwolf. I am a newbie here. would you mind to share your colour changing histogram ?

Thanks in advance.
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