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ALF/TVI - Simple, effective daytrading

  • #821
  • May 11, 2010 9:06am May 11, 2010 9:06am
Quoting EllisEdi
What if game .... (lol)

If I had stayed with the basic rules (10 pip stop, 20 pip tp), my trade would have been back in profit now. And would have closed when price hit my target of 1.2741.

LESSON :
Stick to the rules ...

Mark
Well done - you picked the right place to enter. I'm not going to trade today - didn't sleep well and just not sharp enough for all this volatility.

I'll watch and replay to questions/comments.

Good trading, all.
Old Benjamin was right
  • #822
  • May 11, 2010 9:50am May 11, 2010 9:50am
Quoting Pip26
My first trade with this setup, hope i have follow all rules well????
Looks just fine to me.

Not necessary to have multiple TVI indicators - candles alone is plenty but it's your setup - keep 'em if you want
Old Benjamin was right
  • #823
  • May 11, 2010 10:43am May 11, 2010 10:43am
This is my first post. I've been following this thread, thanks for sharing your system LouG! I've taken a few demo trades - all winners. Tried my first live trades yesterday.

First would have been a winner if I hadn't chickened out and taken an 8 pip loss! Second got stopped out and in hind sight was probably a poor choice.

I then had a couple of winners, one +12 pips during the Asian session and one (attached) +15 during the NY session this morning.

It's a fun system, but patience and nerves are a must
Attached Image (click to enlarge)
Click to Enlarge Name: 5-11-10 - eu short.gif Size: 20 KB
  • #824
  • May 11, 2010 11:59am May 11, 2010 11:59am
Quoting evynsdad
It's a fun system, but patience and nerves are a must
Yes, patience and nerves are a must to trade Forex at all, especially on such an erratic day.

Hang in there and put in the screen time - it's really an easy method to trade if you wait for good setups (like the one you posted).

Take profits early in jumpy markets, let trades run in trending markets.
Old Benjamin was right
  • #825
  • May 11, 2010 12:05pm May 11, 2010 12:05pm
Hi Lou

What are your thoughts on the various time frames?

I will often use moving average or two to help me decide which way the market is moving.......I look as high as the 4 hour and I decide on which way the market is moving and then only take trades in that direction
Then I switch to the ALF/TVI method on the one hour and then down to the 15 minute chart to take trades.
Today I moved down to the 5 minute today.....but I am starting to think the 5 minute candles might be a bit too jumpy for my liking

How low do you go for entries?

PGPB
  • #826
  • May 11, 2010 1:25pm May 11, 2010 1:25pm
PGPB,
I've been trading lower timeframes with a fair amount of success using post 1 rules as can be seen on the pics below.I only trade 6.30 - 8.00 gmt so can't vouch what its like throughout other times during the day. have been following the thread avidly from the start but not posting due to not using Lou's recommended 15min timeframe.

Regards

doc,
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurusdmon.gif Size: 18 KB
Click to Enlarge Name: eurusdtues.gif Size: 18 KB
  • #827
  • May 11, 2010 3:54pm May 11, 2010 3:54pm
Thank you Dr.Scalpall.Can you share MTF_Linear Price indicator?
  • #828
  • May 11, 2010 7:23pm May 11, 2010 7:23pm
Quoting pgpb
Hi Lou

What are your thoughts on the various time frames?

I will often use moving average or two to help me decide which way the market is moving.......I look as high as the 4 hour and I decide on which way the market is moving and then only take trades in that direction
Then I switch to the ALF/TVI method on the one hour and then down to the 15 minute chart to take trades.
Today I moved down to the 5 minute today.....but I am starting to think the 5 minute candles might be a bit too jumpy for my liking

How low do you go for entries?

PGPB...
I started out on M15 confirmed by H1 but, as I gained experience trading the method live (since the inception of this thread), I've moved to using only the M15. I find the M5 jumpy as well but I am not a scalper - perhaps someone else could make the M5 work just fine.
Old Benjamin was right
  • #829
  • Edited 9:01pm May 11, 2010 8:41pm | Edited 9:01pm
Quoting evynsdad
This is my first post. I've been following this thread, thanks for sharing your system LouG! I've taken a few demo trades - all winners. Tried my first live trades yesterday.

First would have been a winner if I hadn't chickened out and taken an 8 pip loss! Second got stopped out and in hind sight was probably a poor choice.

I then had a couple of winners, one +12 pips during the Asian session and one (attached) +15 during the NY session this morning.

It's a fun system, but patience and nerves are a must
EllisEdi read his posts in this thread and LOU to get a feel for this system and understanding patience and analysis of how and why they trade.Of course dont trade with large margin. in my opinion DEMO trade or trade nano lots like .10 cents so you wont get extra pressure on yourself.

also be careful trading at BIG news. forexfactory has NEWS dates.hang in there good luck.
  • #830
  • May 11, 2010 11:05pm May 11, 2010 11:05pm
Quoting Lou G
I started out on M15 confirmed by H1 but, as I gained experience trading the method live (since the inception of this thread), I've moved to using only the M15. I find the M5 jumpy as well but I am not a scalper - perhaps someone else could make the M5 work just fine.
Scalping on 5min with ALF and VMA trigger line MACD confirmation.

I use ALf plus variable moving average on 5 minute charts for scalping with VMA (Variable Moving Average) as trigger line. VMA is the yellow line on my chart. Wait for VMA to cross ALF and enter at market. Use MACD for final confirmation ie MACD trigger on same side as VMA. Works well, just traded AUD in Asian market for nice win. Notice that VMA even told me which way breakout would occur in pennant formation. (It stayed under ALf so breakout expected to downside.)

Not sure how to attach VMA to post but you can find it on forex-strategies-revealed and forex-tsd. ALF rules.

Pips to all
Attached Image (click to enlarge)
Click to Enlarge Name: ALF & VMA.JPG Size: 190 KB
Just trade the pullback you idiot!
  • #831
  • May 11, 2010 11:34pm May 11, 2010 11:34pm
Quoting Batavier
Scalping on 5min with ALF and VMA trigger line MACD confirmation.

I use ALf plus variable moving average on 5 minute charts for scalping with VMA (Variable Moving Average) as trigger line....
Just worked out how to attach indicators. Not hard at all! Here are the VMA and the MACD I use.
Attached File(s)
File Type: mq4 FantailVMA3.mq4   5 KB | 634 downloads
File Type: mq4 realMACD.mq4   3 KB | 495 downloads
File Type: ex4 realMACD.ex4   3 KB | 396 downloads
Just trade the pullback you idiot!
  • #832
  • May 12, 2010 12:54am May 12, 2010 12:54am
Hi Cural,
The indicator you request is the Mtf-tvi indicator posted earlier in this thread (http://www.forexfactory.com/showpost.php?p=3589153) (hope the link works!!) which is available from the paperclip on top right of this page.
Settings for wch are 8,8,5,15

Regards

Doc.
  • #833
  • May 12, 2010 9:17am May 12, 2010 9:17am
Today is so wishy washy in such a tight range (40+ pips at the time I wrote this). Looks like I can clean the garage today ... LOL


Mark
EllisEdi Moving on to my next trade ...
  • #834
  • May 12, 2010 9:59am May 12, 2010 9:59am
Quoting EllisEdi
Today is so wishy washy in such a tight range (40+ pips at the time I wrote this). Looks like I can clean the garage today ... LOL


Mark
Golf dome? Maybe, if it's still open - too cold here to swing a club outdoors.
Old Benjamin was right
  • #835
  • May 12, 2010 11:34am May 12, 2010 11:34am
Quoting Dr.Scalpall
Hi Cural,
The indicator you request is the Mtf-tvi indicator posted earlier in this thread (http://www.forexfactory.com/showpost.php?p=3589153) (hope the link works!!) which is available from the paperclip on top right of this page.
Settings for wch are 8,8,5,15

Regards

Doc.
HI Doc

I understand the MTF ALF
Can you explain how the MTF TVI works?

I have installed it (overlayed on the TVI histogram), (see imagee) but I don't understand how to read what it is saying

Thanks!

PGPB
Attached Image (click to enlarge)
Click to Enlarge Name: MTF.png Size: 9 KB
  • #836
  • May 12, 2010 2:01pm May 12, 2010 2:01pm
Hello, it would be interesting to have TVI 2 color MTF.
Does anyone want to build it?
Thanks in advance
  • #837
  • May 12, 2010 2:43pm May 12, 2010 2:43pm
What's causing this sudden posting of indicators that have nothing to do with the simple method I created? Anyone who thinks that adding more indicators will make their losing trades disappear is on the wrong thread...
Old Benjamin was right
  • #838
  • May 12, 2010 4:46pm May 12, 2010 4:46pm
Lou G
Thanks for setting up this method and providing so much support! This has really helped me develop a better feel for PA, S/R and trading in general. I have consistently made profits with this in demo and have a real confidence boost.
I've listened to the tips, especially 'don't be greedy!' and I successfully rode last Thursday's drop making about 80% of the move (again, all just demo here).

Again, just thanks a ton!


Kerst
  • #839
  • May 12, 2010 4:54pm May 12, 2010 4:54pm
Lou, would you share with me how to configure mt4 to auto-set your stop loss?
  • #840
  • May 12, 2010 5:28pm May 12, 2010 5:28pm
Hi PGPB, I only use the mtf tvi to give me an idea of the what the tvi is doing on the next upper timeframe, yes it can be a nice move if there is good cross of the tvi's (but don't forget that more often than not they havn't crossed when you take the trade, you take the trade because PA has crossed ALf if you get what I mean??). Likewise, if the tvi's are well apart and I get a signal off the lower tvi that would make them seperate further, I may be a little more conservative in my TP level.

hope this helps,

"Screentime" as Lou states is the key to mastering this sytem if anybody should be in any doubt as to what the candles are telling you that is.

Regards

Doc.
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