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ALF revisited - simple, effective daytrading

  • #241
  • Edited 8:01am Jun 4, 2010 7:45am | Edited 8:01am
at .5 normal pos. size. All trades pos. at this time. Could reverse on a dime(lol). Euro has not been this low vs Usd since 4/06.EDIT: Have just moved Sls to b/e...Friday, and NFP Friday at that! Mom. slowing.
Vincit qui se vincit.
  • #242
  • Jun 4, 2010 7:56am Jun 4, 2010 7:56am
This weekend I'm continuing work on ALF_Candles. There are a few small things about it that I'm not totally pleased with.

I'm also thinking about how to handle the alerts - I know this is important to many of you and I am working on it. Not as easy as it seems to find a useful way to do it and not throw an alert when it isn't useful. Be patient...
Old Benjamin was right
  • #243
  • Jun 4, 2010 8:16am Jun 4, 2010 8:16am
checked your system today lou,

and again well layout system. i tried your system today. and i at the moment 100+ pips on eu / usa.

just a matter of time now till it goes under 1.20.

maybe a good idea setting for an alarm is this.

when ALF goes flat dont trade. when ALF goes up or down like 10 degrees or more, give alarm for trade. when ALF reaches again the 10 degrees point. stop trade.

just an idea. dont know it is possible to program, but i think would cover some of the problems?
  • #244
  • Edited 9:36am Jun 4, 2010 9:06am | Edited 9:36am
My current Aud/Usd trade using these tools. Only this and Aud/Jpy trade remain open. Rest closed at b/e + a few pips for a bottle of wine. I know this is not the standard method as outlined by Lou and will not post any additional such trades if he prefers. I entered on break of Fractal support rather than waiting for candle close.
Attached Image (click to enlarge)
Click to Enlarge Name: bb.gif Size: 27 KB
Vincit qui se vincit.
  • #245
  • Jun 4, 2010 10:05am Jun 4, 2010 10:05am
Quoting Pippopotamus
My current Aud/Usd trade using these tools. Only this and Aud/Jpy trade remain open. Rest closed at b/e + a few pips for a bottle of wine. I know this is not the standard method as outlined by Lou and will not post any additional such trades if he prefers. I entered on break of Fractal support rather than waiting for candle close.
I only provide the tools. I don't push my way of using them unless I see someone who obviously is not getting it on their own.

You're an experienced trader - do as you see fit and share with the rest when what you do is successful.
Old Benjamin was right
  • #246
  • Jun 4, 2010 10:17am Jun 4, 2010 10:17am
Aud trades working out nicely. Breaks of Fractal S/R viv a vis Alf produce stellar entries, IMHO. The Aud/Jpy trade. Will close up shop at 16:00 GMT.
Attached Image (click to enlarge)
Click to Enlarge Name: bb.gif Size: 29 KB
Vincit qui se vincit.
  • #247
  • Jun 4, 2010 10:35am Jun 4, 2010 10:35am
Quoting Pippopotamus
Aud trades working out nicely. Breaks of Fractal S/R viv a vis Alf produce stellar entries, IMHO. The Aud/Jpy trade. Will close up shop at 16:00 GMT.
I'm almost ready to call it quits now (15:30 GMT). The good short move on EU took place before I was awake and then died out. There was a short signal on M15 a few minutes ago but I did not take it because it's Friday and PA will most likely bounce off 1.2000...

No trades for me today.
Old Benjamin was right
  • #248
  • Edited 11:00am Jun 4, 2010 10:37am | Edited 11:00am
Here's my 2nd trade of the day, closed for +15 bringing the daily total to +31.



http://i48.tinypic.com/5vrhmv.jpg





http://www.forexfactory.com/%3Ca%20h...%22%3E%3C/a%3E
  • #249
  • Jun 4, 2010 10:39am Jun 4, 2010 10:39am
Quoting MoneyMaker
Here's my 2nd trade of the day, closed for +15 bringing the daily total to +31.
Yes - another member who gets it. Thanks for posting - it's a big help to those who are not quite there yet.
Old Benjamin was right
  • #250
  • Jun 4, 2010 10:43am Jun 4, 2010 10:43am
I mentioned in an earlier post that a few things in the indicator were annoying me - here's the main one. A bar can be both an up and a down fractal at the same time. The indicator needs to deal with that and it isn't - the two black bars following the double fractal should be red, not black.

I'll work on it and fix it by Monday (hopefully).
Attached Image (click to enlarge)
Click to Enlarge Name: alf.gif Size: 7 KB
Old Benjamin was right
  • #251
  • Jun 4, 2010 10:49am Jun 4, 2010 10:49am
Quoting trade4fun
checked your system today lou,

and again well layout system. i tried your system today. and i at the moment 100+ pips on eu / usa.

just a matter of time now till it goes under 1.20.

maybe a good idea setting for an alarm is this.

when ALF goes flat dont trade. when ALF goes up or down like 10 degrees or more, give alarm for trade. when ALF reaches again the 10 degrees point. stop trade.

just an idea. dont know it is possible to program, but i think would cover some of the problems?
I have some minor problems in ALF_Candles that need to be corrected before I get to alerts (what I do to solve Problem A will affect Problem B sort of thing) but thanks for suggesting. I will get to it...
Old Benjamin was right
  • #252
  • Jun 4, 2010 10:50am Jun 4, 2010 10:50am
I don't completely get how candles are produced, or just don't understand the example. I thought a candle turns red as it passes below a current Fractal support level, and vice versa for green. Have the 2 black candles of reference broken fractal support? Looks like the L of large green candle is current Fractal support...getting ready to wipe the egg off of my face. Pippo EDIT: A closer look at the charts leads me to believe there a gap (yet to be filled) in my understanding of how the candles are produced.
Vincit qui se vincit.
  • #253
  • Jun 4, 2010 11:06am Jun 4, 2010 11:06am
Quoting Pippopotamus
I thought a candle turns red as it passes below a current Fractal support level, and vice versa for green.
They do, but they also change color when direction change is possible but has not yet been confirmed by an actual TL break. In the case you mention, an up move has been rejected (temporarily) but there is no nearby support (yet). This is what I'm trying to fix...
Old Benjamin was right
  • #254
  • Edited 11:30am Jun 4, 2010 11:09am | Edited 11:30am
at the risk of being tedious. Isn't the L of large green candle a Fractal? Edit: Have closed my Aud trades for +116, and +89, even though the move looks to still have legs..
Vincit qui se vincit.
  • #255
  • Jun 4, 2010 11:13am Jun 4, 2010 11:13am
Dumb day for me but not for some others.

Thanks to the posters of winning trades, especially those trading pairs other than EU - keep 'em coming, it helps the newer people.

Those who are struggling - study the above-mentioned winning trades and don't be hesitant to ask questions if you don't get it. It IS gettable (there are enough wins to substantiate that) but we each progress at different rates.

Post losses that you don't understand to the forum (rather than PM me) - many here are better traders than I and will be glad to help...
Old Benjamin was right
  • #256
  • Jun 4, 2010 11:20am Jun 4, 2010 11:20am
Quoting Lou G
Yes - another member who gets it. Thanks for posting - it's a big help to those who are not quite there yet.

In hindsight, I shoulda held the GU trade earlier today, would be up over 70 but being friday I'm not too keen on holding for longer times, especially NFP friday.
But still happy with +15.5.

Do that every day for a couple years with the right MM and you'll be comfortable.

MM
  • #257
  • Jun 4, 2010 11:35am Jun 4, 2010 11:35am
Quoting Pippopotamus
at the risk of being tedious. Isn't the L of large green candle a Fractal? Edit: Have closed my Aud trades for +116, and +89, even though the move looks to still have legs..
Large green candle is both H and L - that's one of the problems I'm going to work on this weekend.

Nice trades on your part...

EDIT: the fractal support line is working fine - candle goes red as it passes through BUT - the previous three bars should be red also (because the fractal high occurred most recently and was rejected.

Hope that's clear
Attached Image (click to enlarge)
Click to Enlarge Name: alf.gif Size: 6 KB
Old Benjamin was right
  • #258
  • Jun 4, 2010 11:49am Jun 4, 2010 11:49am
Hello LouG, why not low for to turn red be low in front of that one what is 7 candles back from big green plz?

Quoting Lou G
Large green candle is both H and L - that's one of the problems I'm going to work on this weekend.

Nice trades on your part...

EDIT: the fractal support line is working fine - candle goes red as it passes through BUT - the previous three bars should be red also (because the fractal high occurred most recently and was rejected.

Hope that's clear
  • #259
  • Jun 4, 2010 11:53am Jun 4, 2010 11:53am
Quoting driftwood
Hello LouG, why not low for to turn red be low in front of that one what is 7 candles back from big green plz?
I'm already confused enough
Old Benjamin was right
  • #260
  • Jun 4, 2010 11:56am Jun 4, 2010 11:56am
...from Albert Einstein:

"Every explanation should be as simple as possible - but not more simple".

"If you can't explain it to a six-year-old you don't understand it yourself".
Old Benjamin was right
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