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ALF revisited - simple, effective daytrading

  • #61
  • Jun 1, 2010 3:19pm Jun 1, 2010 3:19pm
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.
A propos this observation, in May, the method referred to in post #1092 in orig. thread had 31W/41L for about 43% win pctg. and scored nearly 2200 pips. We are probing for profitable excursions...nothing more.
Vincit qui se vincit.
  • #62
  • Jun 1, 2010 3:20pm Jun 1, 2010 3:20pm
Quoting desi
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?
I've used a 20 pip stop on M15 for quite a while with good results - I can't suggest what to use for other TFs.

Ideally, stops should be placed just above/below the last PA turning point but should not exceed 1-2% of account balance. Hope this helps.
Old Benjamin was right
  • #63
  • Edited 3:25pm Jun 1, 2010 3:23pm | Edited 3:25pm
to the author of the thread
Thank you, you are doing a great job
  • #64
  • Jun 1, 2010 3:25pm Jun 1, 2010 3:25pm
Quoting Orcinus
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.
Looks good to me - terrible time of day to trade most of the time but very lively today for some reason.
Old Benjamin was right
  • #65
  • Jun 1, 2010 3:37pm Jun 1, 2010 3:37pm
.. from Dreamliner (a few posts back).

DO NOT trade when ALF is flat and PA looks like this. Wait for PA to "peel away" from ALF.
Attached Image (click to enlarge)
Click to Enlarge Name: alf.gif Size: 7 KB
Old Benjamin was right
  • #66
  • Edited 4:34pm Jun 1, 2010 3:44pm | Edited 4:34pm
Quoting Lou G
.. from Dreamliner (a few posts back).

DO NOT trade when ALF is flat and PA looks like this. Wait for PA to "peel away" from ALF.
I see two miniscule losses. IMHO, they will be dwarfed by correctly managing the trades that do,"follow through." Newbies, when things are uncertain, Lou's commentary should be considered the primary source of reference. He generously allows me to pontificate away without reprisal.
Vincit qui se vincit.
  • #67
  • Jun 1, 2010 3:52pm Jun 1, 2010 3:52pm
Quoting Pippopotamus
I see two miniscule losses. They will be dwarfed by correctly managing the trades that do,"follow through."
So are you suggesting to take every trade? I'm not opposed to that, just wondering if that is what you are saying. If you take every trade, you are saying the trends will overcome the ranges, correct?
  • #68
  • Jun 1, 2010 4:24pm Jun 1, 2010 4:24pm
Quoting Dreamliner
So are you suggesting to take every trade? I'm not opposed to that, just wondering if that is what you are saying. If you take every trade, you are saying the trends will overcome the ranges, correct?
I rember looking at this problem when the orig. thread began. I think losses were about 1/3 size of winners, so 1W/3L, 25% is about b/e. I am quite sure merely Long above/Short below, with only a catastrophic SL had a positive outcome. IMHO, it is not the best way to trade using these tools. I wait for a break of 6 pd. Price Channel to confirm entry. Lou's method of waiting for PA to peel away from ALF before entering may be better, but I've traded with Price Channels for so long I am loathe to give them up.This method is very straightfoward, but not mechanical.
Vincit qui se vincit.
  • #69
  • Jun 1, 2010 4:27pm Jun 1, 2010 4:27pm
Quoting Pippopotamus
I rember looking at this problem when the orig. thread began. I think losses were about 1/3 size of winners, so 1W/3L, 25% is about b/e. I am quite sure merely Long above/Short below, with only a catastrophic SL had a positive outcome. IMHO, it is not the best way to trade using these tools. I wait for a break of 6 pd. Price Channel to confirm entry. Lou's method of waiting for PA to peel away from ALF before entering may be better, but I've traded with Price Channels for so long I am loathe to give them up.This method is very straightfoward, but...
Makes sense. Have you posted your price channel somewhere?
  • #70
  • Jun 1, 2010 4:44pm Jun 1, 2010 4:44pm
In addition, the desirability of trading with the larger trend has not been mentioned here (yet), although it was mentioned often in the original thread. We'll get there soon, I'm sure.
Old Benjamin was right
  • #71
  • Jun 1, 2010 5:10pm Jun 1, 2010 5:10pm
Sorry - downloaded the template and the 2 ex4s. Loaded the template but don't see the blue line??? Did I not read the post properly? What is the Blue Line - I assume MA but what period?
  • #72
  • Jun 1, 2010 5:23pm Jun 1, 2010 5:23pm
Quoting Minnelli
Sorry - downloaded the template and the 2 ex4s. Loaded the template but don't see the blue line??? Did I not read the post properly? What is the Blue Line - I assume MA but what period?

The blue line is a Adaptative Laguerre Filter (ALF), not a moving average. Make sure you placed the indicators on the right folder, the indicators folder inside experts, on your platform directory.

By the way, my last trade hit tp, then I made one short and in 5 minutes I banked another 20 pips.
No more trades for today, it time to have dinner!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: alf2.gif Size: 19 KB
Click to Enlarge Name: alf3.gif Size: 21 KB
  • #73
  • Jun 1, 2010 5:28pm Jun 1, 2010 5:28pm
Quoting Dreamliner
Makes sense. Have you posted your price channel somewhere?

Here it is.
Attached File(s)
File Type: mq4 PriceChannel.mq4   2 KB | 1,229 downloads
  • #74
  • Jun 1, 2010 5:33pm Jun 1, 2010 5:33pm
Quoting Orcinus

Here it is.
How do you use it with the current indicators?
  • #75
  • Jun 1, 2010 5:44pm Jun 1, 2010 5:44pm
Quoting Dreamliner
How do you use it with the current indicators?
I don't actually use it, its not my "fetish". I just started to use this system so I'm not the best person to ask questions. Try Pippotamus, maybe he can help you.


Best regards, Orcinus
  • #76
  • Jun 1, 2010 5:44pm Jun 1, 2010 5:44pm
This could be a good idea for people who keep taking trades where they are getting whipsawed getting into a play too early, by using this channel you want to make sure the signal candle touches the top band for long or bottom band for short.. much flat action and whip can be avoided as such.

Brian

Quoting Pippopotamus
M15 trade...I have added my fetish...6 pd. Price Channel to help decide PA.
  • #77
  • Jun 1, 2010 5:54pm Jun 1, 2010 5:54pm
This system is an even improved version, fantastic, but wondering since its such a long previous thread maybe you can answer, what was that pip count based on?

Just want to know basic, time frame and what pairs were used for that total?

If you can do that or better with such a simple setup... it may be worth further pursuit?

Brian

Quoting Pippopotamus
A propos this observation, in May, the method referred to in post #1092 in orig. thread had 31W/41L for about 43% win pctg. and scored nearly 2200 pips. We are probing for profitable excursions...nothing more.
  • #78
  • Jun 1, 2010 6:05pm Jun 1, 2010 6:05pm
Update: LOL, just re-read first post again. Still, my recommendation on
a simple start would be to alert on ALF candle color change, not white
or black just long or short candle color change as an easy start.

RE:

Just one more..would it be possible to have a simple alert added to
the new ALF candles?

Could be alert on color change, that's easy to go check
or on price crossing ALF, but the color change would cover
more situations and could be on the closed bar.

Brian
  • #79
  • Jun 1, 2010 6:44pm Jun 1, 2010 6:44pm
Thanks Lou. I had placed the ALF Candles but missed the ALF.ex4. I knew it was a simple oversight...thanks again.
  • #80
  • Jun 1, 2010 6:52pm Jun 1, 2010 6:52pm
Quoting Minnelli
Thanks Lou. I had placed the ALF Candles but missed the ALF.ex4. I knew it was a simple oversight...thanks again.

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