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ALF revisited - simple, effective daytrading

  • #121
  • Jun 2, 2010 8:15am Jun 2, 2010 8:15am
Took 25pips with u LouG but on 15m.
Still looking both old and new for now.
  • #122
  • Jun 2, 2010 8:24am Jun 2, 2010 8:24am
Quoting driftwood
Took 25pips with u LouG but on 15m.
Still looking both old and new for now.
+25 is good. You will gain confidence as you compare old/new - new is better

Share your M15 chart to help others.

Anyone confused about that last trade, speak up...
Old Benjamin was right
  • #123
  • Jun 2, 2010 8:31am Jun 2, 2010 8:31am
If you are long at 1.2201 or so, I can't blame you - it looks good. Candle went green at that price.

Those more conservative will wait for an upturn in ALF to indicate a trend change.
Old Benjamin was right
  • #124
  • Jun 2, 2010 8:37am Jun 2, 2010 8:37am
Quoting Lou G
If you are long at 1.2201 or so, I can't blame you - it looks good. Candle went green at that price.

Those more conservative will wait for an upturn in ALF to indicate a trend change.
I am long now but I plan to take only +5 this time.
Make money Not pips
  • #125
  • Jun 2, 2010 8:40am Jun 2, 2010 8:40am
Quoting balle1973
I am long now but I plan to take only +5 this time.
Long was counter-trend, IMHO - I did not bite, but those who did should do no worse than break even.

+5 is smart...
Old Benjamin was right
  • #126
  • Jun 2, 2010 9:00am Jun 2, 2010 9:00am
News coming in - hang loose...
Old Benjamin was right
  • #127
  • Jun 2, 2010 9:26am Jun 2, 2010 9:26am
Thanks very much for bringing us this simple and great system!!

Just curious about black/white bars? what's their indication/meaning?

thanks!
  • #128
  • Jun 2, 2010 9:41am Jun 2, 2010 9:41am
Quoting rootkit
Thanks very much for bringing us this simple and great system!!

Just curious about black/white bars? what's their indication/meaning?

thanks!
See post #7
Old Benjamin was right
  • #129
  • Jun 2, 2010 9:45am Jun 2, 2010 9:45am
Normally, I trade right up to the London close (90 minutes from now) but I'm officially hanging it up for today.

I will do a daily postmortem at 16:00 gmt...

Speaking of which, all references to the time of bars will be GMT - if your broker's server differs from this, be sure to calculate the offset so we can all be on the same page with bar references...
Old Benjamin was right
  • #130
  • Jun 2, 2010 10:05am Jun 2, 2010 10:05am
I'm using windows 7 and ODL metatrader

since saving the ex4 (x2) and the template files - odl metatrader keeps crashing

i have saved to the correct location(s) - any advice please?
  • #131
  • Jun 2, 2010 10:12am Jun 2, 2010 10:12am
I have now removed the 2 x EX4 files - and metatrader works fine

Are there any incompatibilty issues with these EX4 files?
  • #132
  • Jun 2, 2010 10:33am Jun 2, 2010 10:33am
Hi all,

Just a suggestion to consider for exits for the ones that maybe not always have a good pa feeling (like myself). I use a combination of pivot lines and fibo expansion. Fibo expansion you can find under "insert". I put my initial target a few pips below/above a pivot line that suits me, so it doesn't have to be the first one. After the entry I will add the fibo expansion from the last swing h/l to the point of entry and will use the 161.8 level as the point to either a: use as target (so change the initial target) or use as point to change the stop to BE.
This exit strategy has nothing to do with the original thread and can be used with whatever trading strategy you use. It works for me and I hope it will help others. Still this exit strategy has a little discretion in it, so be careful and follow your own thoughts!

pbb
Attached Image (click to enlarge)
Click to Enlarge Name: pivots.gif Size: 19 KB
  • #133
  • Jun 2, 2010 10:46am Jun 2, 2010 10:46am
Quoting makka
I have now removed the 2 x EX4 files - and metatrader works fine

Are there any incompatibilty issues with these EX4 files?
None reported. If you are absolutely positive that the ex4s were in the correct folder, you might want to google "mt4 windows 7 problems" and see if anyone has mentioned trouble.
Old Benjamin was right
  • #134
  • Jun 2, 2010 10:47am Jun 2, 2010 10:47am
i have win 7 and all works fine
  • #135
  • Jun 2, 2010 10:53am Jun 2, 2010 10:53am
One good trade today - 12:25 GMT, M5 EU short at 1.2207, profit between 12-30 pips depending on your trade management skills.

Not a bad day but not a good one either, just okay.

Shift your chart to D1 and notice the triple bottom forming - could this be the end of the downtrend? We'll see...
Old Benjamin was right
  • #136
  • Jun 2, 2010 10:53am Jun 2, 2010 10:53am
Quoting bbolss
i have win 7 and all works fine
Can you post couple of your winning charts? Thanks.
  • #137
  • Jun 2, 2010 10:58am Jun 2, 2010 10:58am
Quoting bbolss
i have win 7 and all works fine
Well, time to be sure ex4s were in this folder:

yourmt4/experts/indicators

where "yourmt4" is the name of the folder where your broker has installed MT4.

Template goes in yourmt4/templates (NOT yourmt4/experts/templates).
Old Benjamin was right
  • #138
  • Jun 2, 2010 11:34am Jun 2, 2010 11:34am
My first ALF trade. Although pretty flat action I saw more buyers than sellers...nice set up +21 for this trade. Cant wait for more pips...
Attached Image (click to enlarge)
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  • #139
  • Jun 2, 2010 11:52am Jun 2, 2010 11:52am
Quoting bpips
My first ALF trade. Although pretty flat action I saw more buyers than sellers...nice set up +21 for this trade. Cant wait for more pips...
Nice work.
Old Benjamin was right
  • #140
  • Jun 2, 2010 11:57am Jun 2, 2010 11:57am
I think i like this method. Second trade +10. So two trades +31 for the day. I thank the author...Lou great stuff..
Attached Image (click to enlarge)
Click to Enlarge Name: two wins.gif Size: 7 KB
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