ALF revisited - simple, effective daytrading | Page 35 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

1min scalping using mtf ALF by bbolss 685 replies

How difficult is it to find an effective daytrading method? 156 replies

ALF/TVI - Simple, effective daytrading 1,114 replies

BOWALF - Breakout with ALF Filter 142 replies

Alf Alert problem 2 replies

Attachments: ALF revisited - simple, effective daytrading
Exit Attachments

ALF revisited - simple, effective daytrading

  • #681
  • Jun 15, 2010 8:22am Jun 15, 2010 8:22am
I took GJ Long. Sl at 20 pips with 20 pip instant trail and TP at 30. Currently about 3 pips locked in on trail.

Demo and in hindsight the spread is too large on this.
Attached Image (click to enlarge)
Click to Enlarge Name: test.jpg Size: 131 KB
  • #682
  • Edited 8:26am Jun 15, 2010 8:25am | Edited 8:26am
Gonna try again. Is this the way alf_it template should look? I used the paper clip instead of the first post links.
Thanks for any reply.

Quoting tubguy
Gonna take this for a spin. Believe I have all the proper files that were updated today. Loaded the last alf_it template. Does this look correct?
Attached Image (click to enlarge)
Click to Enlarge Name: alf_it.gif Size: 13 KB
  • #683
  • Jun 15, 2010 8:25am Jun 15, 2010 8:25am
Trade went to a high of 26 pips and closed at +6 pips.

M15 is new to me and I definitely need to be more hands on in terms of closing trades quicker.
  • #684
  • Jun 15, 2010 8:33am Jun 15, 2010 8:33am
Quoting tubguy
Gonna try again. Is this the way alf_it template should look? I used the paper clip instead of the first post links.
Thanks for any reply.
yes....looks like you have the indicators installed correctly......but why not just download the indicators ***AND THE TEMPLATE*** from the first post, that way you are guaranteed to get it right.
Then if you want to make changes (like using bars, rather than candles etc) you can change them from the template.

By the way, I see you are a James 16 member....good for you.....great teaching that is.

PGPB
  • #685
  • Jun 15, 2010 8:34am Jun 15, 2010 8:34am
Quoting flyer415
Trade went to a high of 26 pips and closed at +6 pips.

M15 is new to me and I definitely need to be more hands on in terms of closing trades quicker.
I used to only trade GJ for the last 2 years...using a Trailing Stop on the beast is begging for an early stop out.

GJ is so volatile that you are better off setting an initial target (for GJ I used 15 pips)

So when I hit +15 I'd move my SL to Break Even...

Even better is trading with 2 lots...close the first lot at +15 and then move SL to BE on the remaining lot...then you can ONLY WIN...there is no losing.
  • #686
  • Jun 15, 2010 8:44am Jun 15, 2010 8:44am
http://www.forexfactory.com/showpost.php?p=3795780

Quoting pilotui
Thanks goes to Lou for his hard work and willingness to share...he's inspired me to let go of some of my prized jewels in my trading arsenal.

Hi pilotui,

Your post here with the indi seems interesting. I think LouG suggested (to some posters) to open a new topic/thread if with some interesting indi's

Hope I am not off topic.

Re ALF, maybe because I dont have enough screen time yet, that's why either I am waiting too long before entering a trade, or chickening out when in the trade?
  • #687
  • Jun 15, 2010 8:46am Jun 15, 2010 8:46am
Quoting tubguy
Gonna try again. Is this the way alf_it template should look? I used the paper clip instead of the first post links.
Thanks for any reply.
Looks fine
Old Benjamin was right
  • #688
  • Jun 15, 2010 8:48am Jun 15, 2010 8:48am
Yesterdays nigh equaled (look at H1 chart) - big round numbers are always interesting places
Old Benjamin was right
  • #689
  • Jun 15, 2010 8:49am Jun 15, 2010 8:49am
Quoting flyer415
Trade went to a high of 26 pips and closed at +6 pips.

M15 is new to me and I definitely need to be more hands on in terms of closing trades quicker.
Using TP might helps. I use 10-15 for EU and 15-30 for EJ. BE and Trail stops from 75% target for EJ. But it really depends on the trade itself. When looking for short retrace I might use smaller TP, when going with trends I'll go with bigger TP.

Closing trade is a bit harder to do in live. Especially when the PA shooting back at us in fast movement and requotes making it worst.
  • #690
  • Jun 15, 2010 8:51am Jun 15, 2010 8:51am
My comments so far today have been market related.

Here's an ALF-related thought - I notice that when ALF begins to move toward PA (as it's doing now on EU M15), PA often moves to reconnect with ALF.

Meaning, let's see if PA moves down to meet ALF...
Old Benjamin was right
  • #691
  • Jun 15, 2010 8:54am Jun 15, 2010 8:54am
Quoting pilotui
Yes you are off topic...Lou and I are cool, I asked permission. Then another 20 or so random indy's were posted by others, thus prompting Lou's message.

As for your trading...please post a screenshot and tell us what you saw...thinking etc, then we can help you analyze possible flaws.

-Darren

Ops, don't get me wrong. Very interested in your indicators, so I was thinking if we can expound on it further.

If not possible, let's drop the topic. My apologies for going off topic.
  • #692
  • Jun 15, 2010 8:58am Jun 15, 2010 8:58am
Quoting iamnoel
Ops, don't get me wrong. Very interested in your indicators, so I was thinking if we can expound on it further.

If not possible, let's drop the topic. My apologies for going off topic.
Gotcha...Right now I'm just focusing on trading...running a thread is a lot of work.

Sorry for jumping on ya!
  • #693
  • Jun 15, 2010 8:59am Jun 15, 2010 8:59am
I'd love to hear thoughts from the more experienced traders about how they treat the high effect news announcements. According to the explanation on the news page, the TIC data this morning should have been positive for the USD. That thought prompted me to be cautious and not jump in long on the E/U at the time that data was announced.

I believe there are forces at work that we do not know about behind the scenes that are artificially propping up currencies. Those of you who have been successfully doing this for several years, what are your thoughts? Did you jump in long when PA finally broke through the 1.2276 resistance?
Attached Image (click to enlarge)
Click to Enlarge Name: test.gif Size: 17 KB
  • #694
  • Jun 15, 2010 9:00am Jun 15, 2010 9:00am
USDJPY

#A - got in
#B - chickened out when PA is "crossing" ALF

Lost 5 pips (including 3 pip spread)
Attached Image (click to enlarge)
Click to Enlarge Name: forex.jpg Size: 40 KB
  • #695
  • Jun 15, 2010 9:01am Jun 15, 2010 9:01am
Quoting losingtrades
hey bruno...that correlation calc is new to me. one question...which is the lagging pair?

thanks
jacob
I donīt know if there is a laggin par. for me the point is if some thing is goin on USDJPY, off course it will affect the others corretated and vice versa.
I have a future plan to bring these correlations to a mathematic guy to study probabilities.

sorry the bad english.
Best Regards
bruunoalves
  • #696
  • Jun 15, 2010 9:04am Jun 15, 2010 9:04am
Halfway into my trading day - nothing has moved me so far.

On another subject, I have no interest in participating in a trading room of any kind. I'm not much of a joiner anyway and, between keeping up with what's going on here and doing my own trading, I can't think about being busier than I already am.
Old Benjamin was right
  • #697
  • Jun 15, 2010 9:06am Jun 15, 2010 9:06am
Thanks Pgpb, Lou.

Been a J16 member for almost 2 years. The stuff taught there....Scary good.

So far had a small 10 pip winner this morning. This could be a nice way to enjoy breakfast. LOL
  • #698
  • Jun 15, 2010 9:09am Jun 15, 2010 9:09am
The upside of this sluggish EU has allowed me to just "put in my screen time" on IT_Candles.

All looks good and the indicator/setup I'm using seem to telling me all that I need to know about the market - feel very comfortable with it thus far.
Old Benjamin was right
  • #699
  • Jun 15, 2010 9:13am Jun 15, 2010 9:13am
Well, had that one trade on GJ.

ANALYSIS:

Ok with entry but moves can be fast so best to use a hotkey script to enter faster.

ALF system gave me 26 pips. maximum of 32 pips if I could enter faster.

Trade management was poor. Used a TS of 20 to get me out. Overall bad idea. Ended up with +6 pips. Some good suggestions from others here on best way to handle it. THANKS..

ALF:

Good timing. Provided a winner.
  • #700
  • Jun 15, 2010 9:15am Jun 15, 2010 9:15am
Lou,

How do YOU determine a change in trend? Do you ignore it unless there is hours of movement in a particular direction (or a quick huge move in the opposite direction)?
1 trader viewing now