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ALF/TVI - Simple, effective daytrading

  • #721
  • May 6, 2010 8:10am May 6, 2010 8:10am
Quoting Lou G
Good - now don't forget the "be careful" part.

As Pippo has already pointed out, the rest of this week is problematic due to news releases and general mayhem for the Euro...
OK sir !
Thanks
  • #722
  • May 6, 2010 8:10am May 6, 2010 8:10am
+75 pips

Great system Lou....thanks!
PS. I decided to keep it simple rather than mess around adding a bunch of indicators to this good simple system
Attached Image
  • #723
  • May 6, 2010 8:17am May 6, 2010 8:17am
Quoting pgpb
I decided to keep it simple rather than mess around adding a bunch of indicators to this good simple system
Nice to hear someone say that besides me

Excellent trade.
Old Benjamin was right
  • #724
  • May 6, 2010 8:18am May 6, 2010 8:18am
mayby becaise i dont upload it as Attached but to imageshack.us and then paste link using
Inserted Code
[ IMG]http://....[ /IMG]
without space

ps Lou do you play now only eur/usd ? why?
  • #725
  • May 6, 2010 8:29am May 6, 2010 8:29am
Quoting bbolss
mayby becaise i dont upload it as Attached but to imageshack.us and then paste link using
Inserted Code
[ IMG]http://....[ /IMG]
without space

ps Lou do you play now only eur/usd ? why?
Please do it as I suggested - easier for you and for me and for FF.

EU has lower spread - not a great reason but it's how I think. That's not necessarily a good reason for others. Many trade GU, EY, etc. with no problem.
Old Benjamin was right
  • #726
  • May 6, 2010 8:46am May 6, 2010 8:46am
"By the book" exit of previous trade. Some will say, "but you left pips on the table". This is true but I'm trying to show that you can trade this method with fairly rigid adherence to rules and still make a pip or two.

Rule says "exit at change of TVI direction or cross of ALF".
Attached Image (click to enlarge)
Click to Enlarge Name: alf.gif Size: 12 KB
Old Benjamin was right
  • #727
  • May 6, 2010 8:49am May 6, 2010 8:49am
Quoting Lou G
A few have asked why I do not take every trade - good question. I take those I "feel" will be successful. I am often wrong, but I persevere.

The chart shows results for today so far taking every short trade and associated exit "by the book".

I like the above chart Lou. So what do you use for determining down trend ?
  • #728
  • Edited 10:27am May 6, 2010 8:51am | Edited 10:27am
I keep 3 iterations of the TVI line type indicator on my charts. 6, 9, and 12 5 settings. Helps me see where the trade has been, and where it is heading. This additional info allows me to discern better whether to take a trade or not when a signal occurs. On H4 chart at the close of 08:00 GMT hr. yesterday Eur/Usd TVI 6 6 5 changed bias from down to up and has remained so as of this posting. TVI 9 9 5 has undulated, barely perceptibly so, between up and down since close of 12:00 GMT, yesterday. These undulations are so slight, they may be the result of the way TVI is calculated and displayed. I think. The bias at this setting, as I write, with about 2 hrs. to go before candle close, is up. TVI 12 12 5 is still clearly down. From all of this I infer (not rocket science) that the rate of decline has slowed. Personally, I will be averse to taking additional shorts on H4 TF. I am now waiting for a reversal. Of course, ANYTHING is possible. Tomorrow...NFP.
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Vincit qui se vincit.
  • #729
  • May 6, 2010 8:53am May 6, 2010 8:53am
If you keep on winning every trade you will make a M15 trader out of me!!
Vincit qui se vincit.
  • #730
  • Edited 9:15am May 6, 2010 9:11am | Edited 9:15am
a Valid Alf / TVI trade but counter to the trend.

Entered Long on the close of the candle(that closed up) immediately after the candle that crossed the ALF signifcantly. This means there was some momentum. TVI was moving upwards (green) but under zero line. My exit plan was +20 pips which coinsides with previous support. So I was watching very carefully on a lower time frame (1 min) for price movement exhaustion. I almost exited at +15 pips, but decided to move stop to break even and wait for one more wave (on 1 minute).



Mark
Attached Image (click to enlarge)
Click to Enlarge Name: 2010-05-06-1000-EurUsd.JPG Size: 39 KB
EllisEdi Moving on to my next trade ...
  • #731
  • Edited 9:22am May 6, 2010 9:13am | Edited 9:22am
Quoting maxwell-eqtn
I like the above chart Lou. So what do you use for determining down trend ?
Lower highs and overall slope of ALF. Also, breaks through support. The usual stuff
Attached Image (click to enlarge)
Click to Enlarge Name: alf.gif Size: 12 KB
Old Benjamin was right
  • #732
  • May 6, 2010 9:29am May 6, 2010 9:29am
Quoting Pippopotamus
If you keep on winning every trade you will make a M15 trader out of me!!
Don't confuse the newbies, Pippo I don't win anywhere near that often - I just don't post the losers as I feel it's not instructive.
Old Benjamin was right
  • #733
  • May 6, 2010 9:30am May 6, 2010 9:30am
Quoting EllisEdi
a Valid Alf / TVI trade but counter to the trend.

Entered Long on the close of the candle(that closed up) immediately after the candle that crossed the ALF signifcantly. This means there was some momentum. TVI was moving upwards (green) but under zero line. My exit plan was +20 pips which coinsides with previous support. So I was watching very carefully on a lower time frame (1 min) for price movement exhaustion. I almost exited at +15 pips, but decided to move stop to break even and wait for one more wave (on 1 minute).



Mark
Good one - you are a brave man...
Old Benjamin was right
  • #734
  • May 6, 2010 9:31am May 6, 2010 9:31am
just a feeble attempt at humor. pippo
Vincit qui se vincit.
  • #735
  • May 6, 2010 9:34am May 6, 2010 9:34am
Quoting Pippopotamus
just a feeble attempt at humor. pippo
me too.
Old Benjamin was right
  • #736
  • May 6, 2010 9:39am May 6, 2010 9:39am
i took +15
guess lucky me! :]
Attached Image
  • #737
  • May 6, 2010 9:49am May 6, 2010 9:49am
Quoting Lou G
Good one - you are a brave man...

Counter trend trades are for addrenalin junkies ... LOL .

I should mention I knew this was a risky trade and that my trade was 1/4 of my normal lot size. I do not recomend counter trend trading to someone starting out. There are enough pips when trading with the trend. When I counter trend trade I fully expect to lose, this helps my mental attitude while in the trade. I only take them when I know I can carefully monitor them.

Most of the time I like to pass on counter trend trades. I am still working on forcing myself to pass on them. Sometimes I go all "gambler" and take them anyway.


Mark
EllisEdi Moving on to my next trade ...
  • #738
  • May 6, 2010 9:52am May 6, 2010 9:52am
Quoting Lou G
Don't confuse the newbies, Pippo I don't win anywhere near that often - I just don't post the losers as I feel it's not instructive.
I hate to make this the first post here Lou as your method seems very interesting. New (and old) traders are quite likely to learn even more from posting (some at least) losing trades.

Anyway I trade lower highs and higher lows with what I see as the right candles. I use an 8 lwma but the adaptive laguerre seems very interesting.

Once again pls do not take offence there's none intended.
  • #739
  • Edited 10:14am May 6, 2010 9:52am | Edited 10:14am
... based on Williams Fractals. I'll post this indicator below for the benefit of the less-experienced but I'm not making it a permanent part of ALF/TVI.

After using this for a while, you can see the SR levels in your mind's eye and do it without the indicator...

Whoops, forgot to post the chart:
Attached Image (click to enlarge)
Click to Enlarge Name: alf.gif Size: 10 KB
Attached File(s)
File Type: mq4 Fractal_SR.mq4   2 KB | 586 downloads
Old Benjamin was right
  • #740
  • May 6, 2010 9:55am May 6, 2010 9:55am
Quoting Vantage
I hate to make this the first post here Lou as your method seems very interesting. New (and old) traders are quite likely to learn even more from posting (some at least) losing trades.

Anyway I trade lower highs and higher lows with what I see as the right candles. I use an 8 lwma but the adaptive laguerre seems very interesting.

Once again pls do not take offence there's none intended.
None taken - I think I have posted one or two losers but generally believe that those who are struggling need to see "do this" rather than "don't do this".
Old Benjamin was right
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