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ALF revisited - simple, effective daytrading

  • #41
  • Jun 1, 2010 1:57pm Jun 1, 2010 1:57pm
Quoting Pippopotamus
M15 trade...I have added my fetish...6 pd. Price Channel to help decide PA.
Excellent trade...
Old Benjamin was right
  • #42
  • Jun 1, 2010 1:59pm Jun 1, 2010 1:59pm
Quoting cce
Excellent upgrade...way to stay with the project...Look forward to your continued posts as well as those of others as this thread progresses...
Took a little trade during off hours after I got home from work...played out further than 6 pips but I was scalping after all...
Great addition to the candles...
Thanks much...
Cliff
Another good one...
Old Benjamin was right
  • #43
  • Jun 1, 2010 2:00pm Jun 1, 2010 2:00pm
Quoting Pippopotamus
M15 trade...I have added my fetish...6 pd. Price Channel to help decide PA.
Can you provide me that fetish?
  • #44
  • Jun 1, 2010 2:10pm Jun 1, 2010 2:10pm
Type,"Price Channel," into search function at top of page.
Vincit qui se vincit.
  • #45
  • Jun 1, 2010 2:16pm Jun 1, 2010 2:16pm
Quoting pbb
Hi Lou,

Was with your prior thread from the beginning and really liked the way you managed that, just so straight forward. I am looking forward following this revisited thread and will reread a bit from "Trading Chaos" by Bill Williams (that's been a while). I have not been so great at posting charts myself, see if with the start of this new thread can change that!

Great to see you back so soon again!

pbb
"Trading Chaos" is his best, IMHO.
Old Benjamin was right
  • #46
  • Jun 1, 2010 2:17pm Jun 1, 2010 2:17pm
Quoting Pippopotamus
M15 trade...I have added my fetish...6 pd. Price Channel to help decide PA.

Why didn't you go short on the bar previous to your long entry? Red bar breaking down through the ALF line.
  • #47
  • Jun 1, 2010 2:30pm Jun 1, 2010 2:30pm
Quoting tbone
Why didn't you go short on the bar previous to your long entry? Red bar breaking down through the ALF line.
In fact, the Short was two bars prior to the Long entry and was a loser. My intent was simply to show that great +.0177 win.
Vincit qui se vincit.
  • #48
  • Jun 1, 2010 2:33pm Jun 1, 2010 2:33pm
Quoting Pippopotamus
In fact, the Short was two bars prior to the Long entry and was a loser. My intent was just to show that great +.0177 win.
Thanks. You did have an outstanding trade! However, my problem is that I probably would have taken the short. I guess the thing that the long had going for it was that it broke previous highs while the short didn't break previous lows.
  • #49
  • Jun 1, 2010 2:40pm Jun 1, 2010 2:40pm
Quoting tbone
Thanks. You did have an outstanding trade! However, my problem is that I probably would have taken the short. I guess the thing that the long had going for it was that it broke previous highs while the short didn't break previous lows.
I also would have taken this trade. I just can't seem to recognize good trade signals with this system. I keep seeing a lot of signals turning into losers. Or maybe I'm missing something here... Too bad for me!

Great pips to everyone!
  • #50
  • Jun 1, 2010 2:44pm Jun 1, 2010 2:44pm
Quoting tbone
Thanks. You did have an outstanding trade! However, my problem is that I probably would have taken the short. I guess the thing that the long had going for it was that it broke previous highs while the short didn't break previous lows.
Normally I wait for a break of PC before entering. On occasion, I don't. We'll see how these new S/R candles work out.
Vincit qui se vincit.
  • #51
  • Jun 1, 2010 2:47pm Jun 1, 2010 2:47pm
Quoting Pippopotamus
Type,"Price Channel," into search function at top of page.
Already done that, too much results and no indicator, I don't want to be "off topic" but I would like that indi for another system, can you attach it please?


Best regards
  • #52
  • Jun 1, 2010 2:50pm Jun 1, 2010 2:50pm
Quoting tbone
Thanks. You did have an outstanding trade! However, my problem is that I probably would have taken the short. I guess the thing that the long had going for it was that it broke previous highs while the short didn't break previous lows.
Why is it a problem if you did take the short? Looks like a small loss, which is then more than offset by a 177 pip win.
Old Benjamin was right
  • #53
  • Jun 1, 2010 2:50pm Jun 1, 2010 2:50pm
Quoting Pippopotamus
Type,"Price Channel," into search function at top of page.
lol
type Price Channel in serarch
go to first found thread and 21 post
  • #54
  • Jun 1, 2010 2:55pm Jun 1, 2010 2:55pm
Quoting Orcinus
Already done that, too much results and no indicator, I don't want to be "off topic" but I would like that indi for another system, can you attach it please?


Best regards
Here...Trading Discussion...Price Channel Trading...post#21.
Vincit qui se vincit.
  • #55
  • Jun 1, 2010 2:55pm Jun 1, 2010 2:55pm
Quoting roachroach
I also would have taken this trade. I just can't seem to recognize good trade signals with this system. I keep seeing a lot of signals turning into losers. Or maybe I'm missing something here... Too bad for me!

Great pips to everyone!
To you I say the same as I just did to tbone - your wins will exceed your losses. I know you must also have seen the signal Pippo refers to - 177 pips is HUGE.

Be patient, people! Put in that screen time that I continually rant about and all will become clear.
Old Benjamin was right
  • #56
  • Jun 1, 2010 2:58pm Jun 1, 2010 2:58pm
Quoting Lou G
Why is it a problem if you did take the short? Looks like a small loss, which is then more than offset by a 177 pip win.
Thanks Lou. I understand. My problem is I probably would have stayed in the short too long making it a larger loss and missed the long entry... :-(
  • #57
  • Jun 1, 2010 3:03pm Jun 1, 2010 3:03pm
Much whipsaw around the blue line. If all you do is go short on a red candlestick below the blue, and long on a green candlestick above, you get whipsawed badly.
  • #58
  • Jun 1, 2010 3:04pm Jun 1, 2010 3:04pm
Thanks Lou for this simple system.
My question what is the initial SL you use for say 15m, 30m TF or you be in front of your screen and use your discretion?
  • #59
  • Jun 1, 2010 3:15pm Jun 1, 2010 3:15pm
Quoting Dreamliner
Much whipsaw around the blue line. If all you do is go short on a red candlestick below the blue, and long on a green candlestick above, you get whipsawed badly.
At times that's true. In the original thread I made a point of cautioning members to avoid trading when ALF is horizontal and PA is in a small trading range. I have not mentioned that here yet only because most of the folks posting here were also a part of the earlier thread but I will get around to it in fairly short order.
Old Benjamin was right
  • #60
  • Jun 1, 2010 3:17pm Jun 1, 2010 3:17pm
Quoting Pippopotamus
Here...Trading Discussion...Price Channel Trading...post#21.
Thank you!


Just took a 22 pips trade, new order open at trendline break. What do you guy's think about the entries? I'm looking for 20 pips + spread for now. Not the bets time to trade, but it felt good.
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