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ALF/TVI - Simple, effective daytrading

  • #841
  • May 12, 2010 7:35pm May 12, 2010 7:35pm
Quoting Lou G
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...

I think people just can't help themselves. Everyone says they want a simple, elegant method that makes money (like your's for instance) but deep down they don't trust simple. They must add complexity in order to feel they can understand a complex market. It just can't be so simple that two indicators can do the job. They are missing that a great deal of work went into designing those two indicators and they are designed to work beautifully together.

I've been following your method since I discovered it when it was in the middle of Page 2 of this thread and it is both simple to use and profitable. In science when a theory really comes together, many refer to it as Elegant. Clean, concise and functional; your method is indeed elegant.

Thank you for sharing.

Dick
  • #842
  • May 12, 2010 11:27pm May 12, 2010 11:27pm
Lou,
Ditto to dicks message above.

Lou, Is there a possibility of an E-mail option as part of the signal on the Tvi change.

Regards

Doc.
  • #843
  • May 13, 2010 2:22am May 13, 2010 2:22am
2 Trades for today got very good downside ride.... Thnx for this method.
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  • #844
  • May 13, 2010 5:36am May 13, 2010 5:36am
I am at times guilty of this. I add indicators which I know, in the back of my mind, are simply, redundant. Just trying to,"make sure." This is a reaction to a fear of loss...Of course, we must be prudent with our entries/exits, but layering our charts with indicators does not necessarily serve this end. Personally, in addition to the ALF/TVI signal, I like to see a break of a fractal, or Price Channel H/L as evidence of meaningful P/A. This may not be entirely necessary, but has served me well in the past, and I am reluctant to let go of it.
Vincit qui se vincit.
  • #845
  • May 13, 2010 5:50am May 13, 2010 5:50am
Ho hum
:-)
You know I hardly ever lose with this system, it is kind of scarey!
Time to notch up the amount traded

Thanks Lou....and thanks for reminding us to keep this as indicator free as possible. I know I have TVI candles *AND* TVI histogram....but I kinda like to see the shape of the histogram

PGPB
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  • #846
  • May 13, 2010 6:19am May 13, 2010 6:19am
I seem many times to lose - like this one -20 Do I do wrong?
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  • #847
  • May 13, 2010 6:32am May 13, 2010 6:32am
Quoting driftwood
I seem many times to lose - like this one -20 Do I do wrong?
if you could show your trade on the screenshot we can see your entry and exit.
The way to do this is to go into account history.
Right click on the trade and drag it up on to the screen and you will see a red dotted line showing your entry and exit.
(see my post where I have the trade shown)

I often move down to the 5 minute chart for entries.....although most of the time I am looking at 15 minute charts.

a 20 pip stop is maybe a bit tight.....hard to say since I don't know your entry.....but you would likely be in profit right now if you had held the trade

PGPB
  • #848
  • May 13, 2010 6:45am May 13, 2010 6:45am
I am use MT4 for ALF charts not for to trade. Entry 1.2552 same candle exit 1.2572. I wait passed USA news. Look red arrow and line I post on pic above. Thx pgpb. I hope I can do good as u soon.
  • #849
  • May 13, 2010 7:03am May 13, 2010 7:03am
Quoting Dr.Scalpall
Lou,
Ditto to dicks message above.

Lou, Is there a possibility of an E-mail option as part of the signal on the Tvi change.

Regards

Doc.
I think that was addressed in an earlier post - you need one line of code added to the TVI indicator and you must set up MT4 with your email info.

Not sure which post it was but the explanation was pretty clear - I will add it to TVI candles when I get time or you can do it if you know how.
Old Benjamin was right
  • #850
  • May 13, 2010 7:04am May 13, 2010 7:04am
Quoting driftwood
I am use MT4 for ALF charts not for to trade. Entry 1.2552 same candle exit 1.2572. I wait passed USA news. Look red arrow and line I post on pic above. Thx pgpb. I hope I can do good as u soon.
Hi Driftwood

Who do you use to trade?
I know some folks use these "spread betting" sites ...I have never really looked into the pros and cons. (I guess this is off topic for the thread)

I did notice your little red arrow......after I posted my response to you.

I have just been lucky......also I have lots and lots of screen time, so perhaps I am developing a feel for things. I think when it comes right down to things there is often an intuition involved.....we can follow the rules, but at times the market looks like it is going to fall further.....or at other times the market looks undecided....it is hard for me to put that into words as to what I am seeing.

This month trades have really been going my way.......I really like Lou's method. Lou, thanks again!

PGPB
  • #851
  • May 13, 2010 7:26am May 13, 2010 7:26am
Entry at the arrow - exit at color change (or earlier if you're paying attention) equals at least 20 pips...
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Old Benjamin was right
  • #852
  • May 13, 2010 8:25am May 13, 2010 8:25am
Same trade I post Lou - I losing coz I waiting candle closed to enter.
  • #853
  • May 13, 2010 8:41am May 13, 2010 8:41am
Here is my 2nd trade for today... I m using pivot level's with it and it is working greatly.
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  • #854
  • May 13, 2010 9:48am May 13, 2010 9:48am
Quoting Pip26
Here is my 2nd trade for today... I m using pivot level's with it and it is working greatly.
Pip26, would you be willing to post your pivot indicator? I like how it lists the levels with numbers in the margin rather than lines all over the chart. Thanks in advance.
  • #855
  • May 13, 2010 10:03am May 13, 2010 10:03am
Quoting evynsdad
Pip26, would you be willing to post your pivot indicator? I like how it lists the levels with numbers in the margin rather than lines all over the chart. Thanks in advance.
Here it is
Attached File(s)
File Type: ex4 #Pivot-point-vTEXT-v2.ex4   19 KB | 510 downloads
  • #856
  • Edited 12:41pm May 13, 2010 11:43am | Edited 12:41pm
@Lou
if it is not a problem
when you will have a time
can you update the tvi candles to they remembour width set in settings?
defoult it is set to 5 but when i wana see more charts and use zoom out width 5 look fat and because they do not remembour settings when i save a templare i have to manualy change it at every chart that i load
even when i change from m15 to h1 for a while they are fat again
thanx a lot!
edit
ok i edited the mq4
i didnt known that it can be that easy;]
regards
  • #857
  • May 13, 2010 11:52am May 13, 2010 11:52am
Quoting bbolss
hi
can you tell me what is this red line on your chart? some mtf alf? set to m15?

i very like oryginal Lou method ! thanx Lou again!
but i wana check this your settings - during the week i read some very interested book
Al Brooks - "reading price charts bar by ba"r and he show everything almoust on 5m i wanna check if i can trade great Lou method mayby on m5 in direction of m15 and watch priceaction as He wrote in the book ;D

i gues that i finaly will back to m15 but i wana try;]
regards
The Al Brooks book is a classic......it is not an easy read, but he is an amazing trader
  • #858
  • May 13, 2010 12:01pm May 13, 2010 12:01pm
Another quick 13pips on GBP/USD and 12 on EUR/USD using m15 with visual confirmations on m5 and m1 before the trade.

Did I leave another 10-15 pips on the table? Yes...but I'm practicing not being greedy, and being steady until I am better at it.

I'm getting the hang of this!

Kerst
  • #859
  • May 13, 2010 12:06pm May 13, 2010 12:06pm
yes it is HARD book
i think i will read this one or mayby 2 times more - too much informations for only one read
anyway back to topic
  • #860
  • May 13, 2010 12:06pm May 13, 2010 12:06pm
Quoting Dr.Scalpall
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,

Hello Dr. Scalp,

your chart is interesting. the MTF indicator you mentioned does not appear in the indicator window when I try to duplicate your chart. Instead it posts in the Price Action window. Any suggestions ?

Thanks.
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