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ALF/TVI - Simple, effective daytrading

  • #661
  • May 4, 2010 9:03am May 4, 2010 9:03am
yeah ! me
same on eur-jpy
but on demo


just couple moore weeks

Lou what is that green arrow on your chart? you pained it or some indy help you pick out "good trades"?;p
  • #662
  • May 4, 2010 9:03am May 4, 2010 9:03am
Exited just a moment ago +40...
Old Benjamin was right
  • #663
  • May 4, 2010 9:12am May 4, 2010 9:12am
Note that TVI color change makes a good exit (RE: previous post).
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Old Benjamin was right
  • #664
  • May 4, 2010 9:20am May 4, 2010 9:20am
Does anyone have any doubt about trend direction when looking at this chart? Not a good idea to trade against this...

A very successful trader (Jacko) who has a long-running trade journal here on FF said: "show this chart to a six-year-old and ask which way it's going".

My point in this post was to explain why the up signal (second green line back) should not have been taken - sorry, forgot to put the up arrow on the chart.

Everyone clear on this?
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Old Benjamin was right
  • #665
  • May 4, 2010 9:34am May 4, 2010 9:34am
at close of 08:00 GMT hr. Have already TP'd E/U for 38 pips(late entry!). Others pos., but moving slowly. All on H4 chart. My G/U trade.
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Vincit qui se vincit.
  • #666
  • May 4, 2010 9:54am May 4, 2010 9:54am
Quoting Pippopotamus
at close of 08:00 GMT hr. Have already TP'd E/U for 38 pips(late entry!). Others pos., but moving slowly. All on H4 chart. My G/U trade.
First of all.....to Lou....great thread....I have been following (and trading) it for a few days now.

Question to Pippopotamus (what is the indicator you use for the 7 period price channel) .......I love the simplicity of Lou's charts....but I want to back test a bit with Pippopo.... price channel and HA

Another question for Pippopot...are you trading only off the 4 hour?

I have found that I prefer lower time frames for this method, with higher time frame confirmation for price trend.
  • #667
  • May 4, 2010 10:10am May 4, 2010 10:10am
The Price Channel ind. I use is found at...Trading Discussions...Price Channel Trading...Post#21. I trade on H4 chart only. I am eager to see the results of your back test.
Vincit qui se vincit.
  • #668
  • May 4, 2010 11:16am May 4, 2010 11:16am
Quoting gopsat77
Hi Lou G

Here is another one, I was out for positive 20 pips
Now you've got it - trade in direction of trend.
Old Benjamin was right
  • #669
  • May 4, 2010 11:17am May 4, 2010 11:17am
Quoting pipzap
Hello,

I went thru the posts and i saw that people have really understood the concept of Lou's system.

Just want to post my trade update today.

I opened position for EURUSD and USDCAD and im up by 53pips and 39pips respectively and still moving.......

is anyone on that presently?

Planning to go live next week and as surely, i will post screen shots of my positions.

happy trading.
Another person get it - nice trading.
Old Benjamin was right
  • #670
  • May 4, 2010 11:19am May 4, 2010 11:19am
Quoting JayalFX
Hi pipzap I have not been able to get the template or the two gif indicators from post #1 onto my MetaTrader 4 spent hours on it but no success with the bugger. so just wondering if you could post a link to your template ,
not being lazy but working with old eyes
I have the TVI indicator
thank you and all who have posted
JayalFX
Not sure what you mean by gif indicators - can you explain?
Old Benjamin was right
  • #671
  • May 4, 2010 11:20am May 4, 2010 11:20am
Quoting bbolss
yeah ! me
same on eur-jpy
but on demo


just couple moore weeks

Lou what is that green arrow on your chart? you pained it or some indy help you pick out "good trades"?;p
I put the arrow there to show the entry point.
Old Benjamin was right
  • #672
  • Edited 11:31am May 4, 2010 11:30am | Edited 11:31am
Quoting Amaya
Nice system. But from my point of view, this system ius not yet fully complete. Your entry and exit are kinda late..?
Entry at 1.3104, exit at 1.3055 equals +47 pips (net spread) - what's wrong with that?
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Old Benjamin was right
  • #673
  • May 4, 2010 11:39am May 4, 2010 11:39am
to me.
Vincit qui se vincit.
  • #674
  • May 4, 2010 11:44am May 4, 2010 11:44am
Quoting Pippopotamus
to me.
Well, I did leave some pips on the table...
Old Benjamin was right
  • #675
  • May 4, 2010 12:00pm May 4, 2010 12:00pm
early. GBP pair trades have stalled. ADP paranoia setting in.
Vincit qui se vincit.
  • #676
  • May 4, 2010 12:37pm May 4, 2010 12:37pm
Quoting Lou G
Well, I did leave some pips on the table...
Lou, if you can invent a system that picks tops and bottoms to the pip....you may as well then focus your energies on: world peace, a cure for cancer, climate change......and then next week......

LOL

Seriously though great system!!
I took a few profitable trades, but did not hold them long enough (I am at work and had to leave my desk and did not want to leave the trades open)

Notes to myself (and anyone else who cares)
* stick to the 15 minute time frame (still using higher time frames to confirm direction)
* wait for the candle to close before entering
* hold trade until I get a clear signal to enter (moving stop to break even quickly
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  • #677
  • May 4, 2010 12:44pm May 4, 2010 12:44pm
Short at 123.77. TP 122.15. Presently,I am happy with the way this trade has developed, but wary of looming news releases.
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Vincit qui se vincit.
  • #678
  • May 4, 2010 1:10pm May 4, 2010 1:10pm
zipzap thanks for reply when I eventually get the template in program files experts templates on
my MetaTrader it shows up as a gif file and metatrader wont open it
it will not copy to this reply but it is a round orb peirced by a little triangle and a little square picture offset on the edge
the same with the indicators when I place them into experts indicators
hope that makes sense , it seems that f/factory icons are not compatable with my MetaTrader4 ? and I do not know how to change them
Allan
  • #679
  • May 4, 2010 1:24pm May 4, 2010 1:24pm
Quoting JayalFX
zipzap thanks for reply when I eventually get the template in program files experts templates on
my MetaTrader it shows up as a gif file and metatrader wont open it
it will not copy to this reply but it is a round orb peirced by a little triangle and a little square picture offset on the edge
the same with the indicators when I place them into experts indicators
hope that makes sense , it seems that f/factory icons are not compatable with my MetaTrader4 ? and I do not know how to change them
Allan
Allan - you need to drop templates into Crogram FilesMetaTrader - "yourbroker"templates

NOT Crogram FilesMetaTrader - "yourbroker"expertstemplates

When you save a file, you will see a "save as type" option.....see image
Choose either .tpl or all files and then save as .tpl

Let me know if this helps
Attached Image
  • #680
  • May 4, 2010 1:27pm May 4, 2010 1:27pm
Quoting Pippopotamus
Short at 123.77. TP 122.15. Presently,I am happy with the way this trade has developed, but wary of looming news releases.
speaking of templates....Pippopotamus.....can you please post yours.....I am a HA moron....I can never get HA candles to look the same way as others. Do I chose candles, or standard bars? If you post your template I will be able to tweak the chart to what I want....but get the HA candles to look right

thx in advance

PGPB
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