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ALF/TVI - Simple, effective daytrading

  • #541
  • Apr 27, 2010 4:31pm Apr 27, 2010 4:31pm
Quoting teknoesen
Hi Lou,

What would keep you out of taking a long at the red line. TVI has turned green. The previous bar closed above ALF. Only thing I can think of is that the PA was not moving 'away' from ALF.

Input appreciated.

Today I took two trades on EURUSD. The first trade was long and BE, could have been 20 pips if I had placed a limit. The second trade a short for a quick 20 pips.

Eddie
Overall market trend would lead me to suspect the possibility of a retracement - time to wait and see. This is the part of all methods that cannot be accounted for with indicators and is the most challenging part to learn - what I have referred to several times in this thread as "feel" which can only be learned by putting in lots of screen time.

Sounds like your trading is going okay - today was a difficult one.
Old Benjamin was right
  • #542
  • Apr 27, 2010 7:12pm Apr 27, 2010 7:12pm
Thanks Lou and pipzag for sharing.
Question for pipzag : When you say you try to confirm trend on H4 or daily, do you also use the color of NonlagMA for direction or something else ?
Also do you wait for close of candle to enter and to exit ?

Would be nice to have an indicator with arrow, alert and email when:
- Enter Long when: On H1 NonLagMA crosses AFL from below with TVI green and NonLagMA green on H4.
- Enter Short when: On H1 NonLagMA crosses AFL from above with TVI red and NonLagMA red on H4.
- Exit when on H1 NonLagMA changes color from entry.

That way we could do some backtesting.
I'll share my results when I have more trades with the above setup.


Quoting pipzap
Hi folks,

been out since morning. Just came back now.
Just want to show you how my trading went today.

I entered 3 positions today EURUSD,USDCHF and USDCAD and all of them hit my TP of 40pips each using Lou's system. Could have made more but i had to go out. I came back to see that using the NonlagMa, i could have stayed in the trade and make not less than 100 pips on each trade.

I attached a screen shot of the trades.

I will also post loosing trades if i have one but so far, it has been great.

How have u guys found the NonLagMa? has it...
  • #543
  • Edited 8:04pm Apr 27, 2010 7:44pm | Edited 8:04pm
Hi:

I'm using Lou's setup w ALF, TVI_2color_alert_symbol_tf, and worktime indicators - loving it. Thanks Lou!!

The problem I'm having is any trendlines, text, etc. I put on a chart disappears when I toggle between any timeframes. This only seems to happen on charts that I have worktime on. If I open another chart and throw some stuff on it, I can toggle without losing anything. If I delete worktime, I can toggle time frames without losing anything too.

Has anyone else had this happen or does anyone know how to prevent it? I like the worktime indicator, but it's not really usable like this for me.

Thanks,

John
  • #544
  • Edited 8:44pm Apr 27, 2010 8:33pm | Edited 8:44pm
Quoting teknoesen
Only thing I can think of is that the PA was not moving 'away' from ALF.
Price action is the most important signal. You want positive white candles if you are trading that direction. That should be your entry signal with confirmation from your indicators.
EURUSD has been moving like a snail lately. Seems to lose steam on M15. Pairs with more volatility might have pushed up a little before trailing off like that.

Quoting pipppindog

I like the worktime indicator, but it's not really usable like this for me.
Attached another option for breaking up sessions. Might need Inputs adjusted.
Attached File(s)
File Type: ex4 AsianSession.ex4   4 KB | 304 downloads
  • #545
  • Apr 27, 2010 9:13pm Apr 27, 2010 9:13pm
Hi Agent 6488:

Thanks for posting the assiansession indicator. That might be just the thing. Can you post the .mq4 file for it?

Thanks,

John

Quoting agent6488
Price action is the most important signal. You want positive white candles if you are trading that direction. That should be your entry signal with confirmation from your indicators.
EURUSD has been moving like a snail lately. Seems to lose steam on M15. Pairs with more volatility might have pushed up a little before trailing off like that.



Attached another option for breaking up sessions. Might need Inputs adjusted.
  • #546
  • Apr 27, 2010 11:21pm Apr 27, 2010 11:21pm
i go long for EU... see attached chart.. what u all think?
Attached Image (click to enlarge)
Click to Enlarge Name: Capture.JPG Size: 167 KB
  • #547
  • Edited 5:19am Apr 28, 2010 5:09am | Edited 5:19am
Quoting pipppindog
Hi Agent 6488:

Thanks for posting the assiansession indicator. That might be just the thing. Can you post the .mq4 file for it?

Thanks,

John
I don't have it for that version.
Try this one:
http://www.forexfactory.com/showpost...postcount=1596


I think they are still working on trying to get that one totally stable. They were saying it begins to draws itself a little earlier than it should. Not sure if he updated the file yet. Looks OK to me.
This version marks all of the sessions, and creates a channel to show the high and low of the Asian trading session. You'll likely have to adjust Inputs based on your MT4 broker time vs. local time.
  • #548
  • Apr 28, 2010 7:39am Apr 28, 2010 7:39am
Got a good piece of the up move at 12:00gmt EU m15.

To all who have posted charts on this page - looking very good!

Once you get the "feel" of this approach you will make steady pips.
Old Benjamin was right
  • #549
  • Edited 7:53am Apr 28, 2010 7:53am | Edited 7:53am
I replied to your PM but if you would like a detailed explanation of retracements/reversals, try this thread:

http://www.forexfactory.com/showthread.php?t=80290

This is important basic stuff that all traders need to know.

Best,

Lou G
Old Benjamin was right
  • #550
  • Apr 28, 2010 8:58am Apr 28, 2010 8:58am
This trade deserves a bit of watching ... It is a counter trend (short term) but both 1 hr and 4 hr agree with the direction.


We will see what happens ...

Mark
Attached Image (click to enlarge)
Click to Enlarge Name: 2010-04-28-0910-EurUsd.JPG Size: 38 KB
EllisEdi Moving on to my next trade ...
  • #551
  • Edited 9:04am Apr 28, 2010 9:02am | Edited 9:04am
Quoting EllisEdi
This trade deserves a bit of watching ... It is a counter trend (short term) but both 1 hr and 4 hr agree with the direction.


We will see what happens ...

Mark
Me too - looks good so far.
Attached Image (click to enlarge)
Click to Enlarge Name: alf.gif Size: 10 KB
Old Benjamin was right
  • #552
  • Edited 9:14am Apr 28, 2010 9:06am | Edited 9:14am
Quoting EllisEdi
This trade deserves a bit of watching ... It is a counter trend (short term) but both 1 hr and 4 hr agree with the direction.


We will see what happens ...

Mark
Woot !!! Another successful ALF (A Lou Favorite) ... LOL

Exited @1.3189 for +20
Because - 1. Traded into Resistance with no real news to help drive price.
2. 5 Down arrows in a row so expect a bit of a pull back.
3. The system rules I am using say exit at 20 pips unless strong indications to let run


Mark
Attached Image (click to enlarge)
Click to Enlarge Name: 2010-04-28-0910-EurUsd Closed.JPG Size: 38 KB
EllisEdi Moving on to my next trade ...
  • #553
  • Apr 28, 2010 9:09am Apr 28, 2010 9:09am
Quoting EllisEdi
Woot !!! Another successful ALF (A Lou Favorite) ... LOL

Exited @1.3189 for +20

Mark
Send fan mail to John Ehlers
Old Benjamin was right
  • #554
  • Apr 28, 2010 9:11am Apr 28, 2010 9:11am
Hi Lou G
Here is a charte which i enter a long, will you please tell me if my entry is good or bad
Thanks

kind regards
Gopsat
Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD.JPG Size: 208 KB
  • #555
  • Apr 28, 2010 9:16am Apr 28, 2010 9:16am
If you don't mind, will you post your market hrs. indicator?
Vincit qui se vincit.
  • #556
  • Edited 9:28am Apr 28, 2010 9:19am | Edited 9:28am
Quoting gopsat77
Hi Lou G
Here is a charte which i enter a long, will you please tell me if my entry is good or bad
Thanks

kind regards
Gopsat
Looks good to me...could be a retracement so watch it carefully.

Countertrend trades can be tricky.

Not to be annoying, but here's how I see it - a good profit already made:
Attached Image (click to enlarge)
Click to Enlarge Name: alf.gif Size: 10 KB
Old Benjamin was right
  • #557
  • Apr 28, 2010 9:31am Apr 28, 2010 9:31am
Quoting KPForex
i go long for EU... see attached chart.. what u all think?
i hit my SL for this.. because i did not reference it to H4 chart...

sigh... lesson learnt
  • #558
  • Apr 28, 2010 9:48am Apr 28, 2010 9:48am
is there any way to create a pop up alert when the NonMA crosses with ALF? thanks.. so that we no need to scroll all over the place.. haha
  • #559
  • Apr 28, 2010 9:49am Apr 28, 2010 9:49am
In trading we are confronted with three questions:

Direction - Which way will PA go?

Distance - How far?

Momentum - How long will it take to get there?

TVI provides direction. It's not always right but it's right a lot. ALF acts as a continuously variable RSI - above ALF is long, below is short, providing entry points.

The time of day you choose to trade provides momentum. This is not guaranteed either but, if you trade during the first 4 hours of one of the three major trading sessions, momentum will usually be there.

Distance is the mystery and cannot be predicted. Trade management is the only way I know to cope with this. Watch open trades like a hawk and, if you are in profit, get out at a sign of weakness - you can always re-enter later.
Old Benjamin was right
  • #560
  • Apr 28, 2010 9:56am Apr 28, 2010 9:56am
Recently completed trade:
Attached Image (click to enlarge)
Click to Enlarge Name: alf.gif Size: 11 KB
Old Benjamin was right
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