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ALF revisited - simple, effective daytrading

  • #601
  • Jun 14, 2010 11:15am Jun 14, 2010 11:15am
HI Lou,
sorry for the distractions today, I totally agree "just trading tomorrow"!

Thanks once again for a great system and your ongoing support.
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  • #602
  • Jun 14, 2010 11:18am Jun 14, 2010 11:18am
Arrow problem solved. I didn't have the ALF.exe in my indicators. Now that I loaded it, arrows appear. Thanks for the help.
  • #603
  • Jun 14, 2010 11:26am Jun 14, 2010 11:26am
Not a single problem using the beta version.

Not really into using the arrows, but maybe need to get used to them now.
  • #604
  • Jun 14, 2010 11:27am Jun 14, 2010 11:27am
.. so we can get down to business tomorrow.

If you have not done so, do the following:

Download and install ALL (repeat, ALL) indicators from Post #1. These will provide the ALF method. If you don't want to use the template, that's fine but get ALL the indicators.

If you want to beta test IT_Candles, download and install:

IT_Candles.ex4 and Instant_Trendline.ex4 from the paperclip icon.

Set up your chart(s) in any way you wish as far as colors, etc. but they should bear a close resemblance to charts I have posted.

Please post charts using the MT4 "Save as picture" facility (on the file menu) rather than some other method. That way they can be enlarged in FF by those who want to look at them.

If you still need to resolve chart issues, try to post your questions TODAY so we can spend time on trading tomorrow (and on subsequent days). The ALF method is about simplifying the charts with the goal in mind of focusing on TRADING (rather than on often-redundant indicators).

Thank you.
Old Benjamin was right
  • #605
  • Jun 14, 2010 11:29am Jun 14, 2010 11:29am
I'm a little confused, are the arrows buy/sell signal indicators?

Towards the end of the chart, how should one interpret?

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  • #606
  • Jun 14, 2010 11:29am Jun 14, 2010 11:29am
Quoting Freddyfx
Not a single problem using the beta version.

Not really into using the arrows, but maybe need to get used to them now.
You can turn the arrows off on the Inputs Tab - I don't use them either, in fact I don't use ALF_Alert at all.
Old Benjamin was right
  • #607
  • Jun 14, 2010 11:32am Jun 14, 2010 11:32am
@ Lou
i sent You a PM can you check the inbox?
  • #608
  • Jun 14, 2010 11:46am Jun 14, 2010 11:46am
Quoting stmoong
I'm a little confused, are the arrows buy/sell signal indicators?

Towards the end of the chart, how should one interpret?

Attachment
Sometimes the indicators are wrong (especially in a very choppy market). Try a different time frame or wait until the market settles a bit.
Old Benjamin was right
  • #609
  • Jun 14, 2010 11:55am Jun 14, 2010 11:55am
Quoting bbolss
@ Lou
i sent You a PM can you check the inbox?
I don't know why your thread was moved - check with Twee.
Old Benjamin was right
  • #610
  • Jun 14, 2010 12:13pm Jun 14, 2010 12:13pm
Hi all,

Please can someone tell me if this is a good entry? I took the short at the open of the last bar at 1.2250 because red (and black) candle (big) closed below ALF.

At first the trade went against me and then I took 10 pips profit.

I am not sure because of the large candle that crossed the ALF. If it is very large, should I enter before the open of the next one?

Thank you.
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  • #611
  • Jun 14, 2010 12:18pm Jun 14, 2010 12:18pm
Is there an option on the alert for candle close instead of candle open? Can this be added as an option? thanks
  • #612
  • Jun 14, 2010 12:22pm Jun 14, 2010 12:22pm
Quoting NewbieFxFx
Hi all,

Please can someone tell me if this is a good entry? I took the short at the open of the last bar at 1.2250 because red (and black) candle (big) closed below ALF.

At first the trade went against me and then I took 10 pips profit.

I am not sure because of the large candle that crossed the ALF. If it is very large, should I enter before the open of the next one?

Thank you.
If you made +10 pips it's a good trade. It is, however, counter-trend (against the prevailing trend, which has been up for about 12 hours). If you are new to Forex, you might want to trade only with the trend until you learn about retracements and other price patterns.

When you gain some experience with ALF, you might not want to wait for the arrow (or, you might not want to use the arrow at all).

At this point, good job...
Old Benjamin was right
  • #613
  • Jun 14, 2010 12:26pm Jun 14, 2010 12:26pm
Quoting rotunda
Is there an option on the alert for candle close instead of candle open? Can this be added as an option? thanks
Actually, ALF_Alert is already looking at the previous close rather than the current open.
Old Benjamin was right
  • #614
  • Jun 14, 2010 12:51pm Jun 14, 2010 12:51pm
Hello @ all,

the new IT Candels are very impressive. Thanks to LOU G!!!
To determine the Trend the SMA 48 looks good to me...

Best Regards
bretlee
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  • #615
  • Jun 14, 2010 12:52pm Jun 14, 2010 12:52pm
Quoting bretlee
Hello @ all,

the new IT Candels are very impressive. Thanks to LOU G!!!
To determine the Trend the SMA 48 looks good to me...

Best Regards
bretlee
Or, you can compare where ALF is now to where it was at the left side of the chart...
Old Benjamin was right
  • #616
  • Jun 14, 2010 12:55pm Jun 14, 2010 12:55pm
Quoting Lou G
Or, you can compare where ALF is now to where it was at the left side of the chart...
  • #617
  • Jun 14, 2010 1:01pm Jun 14, 2010 1:01pm
Hi Lou,

you mean this ?
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  • #618
  • Jun 14, 2010 1:07pm Jun 14, 2010 1:07pm
Quoting Lou G
Or, you can compare where ALF is now to where it was at the left side of the chart...
That was an EPIC response.
  • #619
  • Jun 14, 2010 1:10pm Jun 14, 2010 1:10pm
Ok Thanks ...
  • #620
  • Jun 14, 2010 1:31pm Jun 14, 2010 1:31pm
Question for Lou here, or am I being just dumb? On beta testing of IT candles, what do we do on candles that are black or white? The reason I ask is because on post 558 you say at B trade would have been good for about 20pips, however on my chart all these candles were black including your entry candle, and I thought we only went long on green, short on red. Could you explain entry conditions using IT candles one more time for a simpleton like myself just so that I am clear.
Many Thanks
Geoff
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