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ALF revisited - simple, effective daytrading

  • #841
  • Jun 16, 2010 1:21pm Jun 16, 2010 1:21pm
Quoting desi
Just out of curosity, what are these Xs for?
From what I understand, it is to prevent online engine crawlers from spamming his email. Only "human" will have the capacity to take out those X's and use his correct email.
  • #842
  • Jun 16, 2010 1:24pm Jun 16, 2010 1:24pm
Quoting majikman2010
Yeah, I was afraid of that. It's not me per se, it's because I'm still a junior member here. Here's my regular email: [email protected] (remove the X's)
Is the email address you have provided to Forex Factory not correct? I have already emailed you there...
Old Benjamin was right
  • #843
  • Jun 16, 2010 1:29pm Jun 16, 2010 1:29pm
Quoting iamnoel
From what I understand, it is to prevent online engine crawlers from spamming his email. Only "human" will have the capacity to take out those X's and use his correct email.
Thanks, I got it.
  • #844
  • Edited 5:57pm Jun 16, 2010 4:16pm | Edited 5:57pm
EU H1...

Keep bangin' up but no cigar!
Big chance to go low today folowing H4 downward pattern...

Attached Image (click to enlarge)
Click to Enlarge Name: Alf_EU_2.jpg Size: 61 KB
  • #845
  • Jun 16, 2010 4:29pm Jun 16, 2010 4:29pm
you and Lou bring some good common sense to this thread and to this forum.ALF like Lou said from John Ehlers is simply Oscillator like
(overbought oversold) . Also trade micro lots to get used to trading like Lou said and others. less pressure than using standard lots .


Quoting Dick
"I almost began the initial ALF thread with ALF as the only indicator (and I still believe that anyone who has taken to time to learn about basic market dynamics can trade very successfully with ALF alone). I added a companion indicator because I am practical by nature and realize that that level of involvement is not a realistic expectation and I wanted to make trading effectively available to more people."...
  • #846
  • Jun 16, 2010 4:37pm Jun 16, 2010 4:37pm
Quoting chit0z
Hey Lou G,

Firstly many thanks for sharing such a system with community. I have been trading live on this system since two weeks and had mixed kinda results. What I am basically struggling with are the valid signals turning out to be failure. I am still trying to figure out the best moves, patterns, combination etc. So it would be great if you could post some charts from your daily trading (the way you do normally) and also explain why you took a certain trade after a signal and why you didn't considered another signal.

Lastly here are some of...

the original post shows many LOU examples charts

http://www.forexfactory.com/showthread.php?t=226154
  • #847
  • Jun 16, 2010 7:02pm Jun 16, 2010 7:02pm
Quoting chojnak
Hi,

This EA can be VERY usefull, you can set TP, SL (and moving it by mouse), trailing stop, automatic BE, close part.

Please enjoy (and all greetings to www.luktom.biz ).

Best regards, J.
Hi,

Does any one have or know where I can find instructions on how to use this EA from post 778, an english version would be helpful.

Thanks...
  • #848
  • Edited 7:57pm Jun 16, 2010 7:38pm | Edited 7:57pm
Hi everybody!

Lou, thank you very much for this great system!

You said that you're still working on it, still trying to find a better indicator or improve the candles. I understand that ALF is very important and it is almost perfect, but the second indicator can be improved or replaced. Could you please take a look at Nonlagdot? Nonlagdot doesn't repaint, I mean it can change the color when the candle is forming (but it does it not very often), but when the candle is closed it doesn't change.

The picture (GBPJPY H-1) shows that the orange and blue dots allow to stay in the trade much longer than candles and this means bigger profits.

Maybe you could create a new candles indicator using Nonlagdot? Just my 2 cents.
Attached Image (click to enlarge)
Click to Enlarge Name: nonlogdotpicture.gif Size: 22 KB
Attached File(s)
File Type: ex4 nonlagdot.ex4   6 KB | 431 downloads
File Type: mq4 nonlagdot.mq4   5 KB | 505 downloads
  • #849
  • Jun 17, 2010 12:42am Jun 17, 2010 12:42am
Hello,

First, thanks Lou for the method and answering questions. Can I please get feedback on the trade? I took the sell at the yellow dot. It looked very similar to the other yellow dot entry a while back.

The PA broke out of the 20-30 range cycle, London has opened, I waited til the candle closed below the ALF, trend was very much down. I couldn't have just jumped in earlier because it was still cycling in the range, so that's not a reason for the failed trade.

Thanks for everyone's help.
Attached Image (click to enlarge)
Click to Enlarge Name: alf loss.gif Size: 16 KB
  • #850
  • Jun 17, 2010 1:06am Jun 17, 2010 1:06am
Quoting rolleddice
Hello,

First, thanks Lou for the method and answering questions. Can I please get feedback on the trade? I took the sell at the yellow dot. It looked very similar to the other yellow dot entry a while back.

The PA broke out of the 20-30 range cycle, London has opened, I waited til the candle closed below the ALF, trend was very much down. I couldn't have just jumped in earlier because it was still cycling in the range, so that's not a reason for the failed trade.

Thanks for everyone's help.
Just a choppy session at the moment.
  • #851
  • Jun 17, 2010 1:29am Jun 17, 2010 1:29am
Easy...just keep it simple

Alert, wake up, trade, close....sleep
Attached Image (click to enlarge)
Click to Enlarge Name: +15.jpg Size: 149 KB
  • #852
  • Jun 17, 2010 1:47am Jun 17, 2010 1:47am
Quoting rolleddice
Hello,

First, thanks Lou for the method and answering questions. Can I please get feedback on the trade? I took the sell at the yellow dot. It looked very similar to the other yellow dot entry a while back.

The PA broke out of the 20-30 range cycle, London has opened, I waited til the candle closed below the ALF, trend was very much down. I couldn't have just jumped in earlier because it was still cycling in the range, so that's not a reason for the failed trade.

Thanks for everyone's help.

Rolleddice,

IMHO two things to look at:-

1. Your entry was tooo late. The candle that crossed ALF (2 candles earlier) was red and so the entry was on the close of that candle. Although ALF is flat the general trend is down. Trade good for ~ 20pips.

2. When you entred it was right at the London open where anything can happen. More often than not London traders try to reverse the direction of the Asian session.

hth

N.
  • #853
  • Jun 17, 2010 1:55am Jun 17, 2010 1:55am
Quoting Fokusnik

Maybe you could create a new candles indicator using Nonlagdot? Just my 2 cents.
Many in the original ALF/TVI thread used a non-lag moving average that worked almost identically to NLdots. I don't think it caught on as a replacement for TVI/ALF candles, since non-lag is so spastic.

Check out bbolss's thread if you want to catch more pip movement.
http://www.forexfactory.com/showthread.php?t=241420
  • #854
  • Jun 17, 2010 5:55am Jun 17, 2010 5:55am
I don't think I'm going to add any more indicators to my basic setup (which seems to working okay as it is) but that does not mean that you can't
Old Benjamin was right
  • #855
  • Jun 17, 2010 6:18am Jun 17, 2010 6:18am
Hi Lou

First of all thanks for the system. I'm enjoying using it.
I have a question regarding trade entry. I've attached a picure which shows Alf is very flat, If anything moving up Slightly, but the PA is down and Alf is not reacting at all (Gbp/Jpy), Is this a no trade scenario.

Thanks
Simmo

I think P/A has just answered my question, but I'd appreciate your thoughts.
Attached Image
  • #856
  • Jun 17, 2010 6:22am Jun 17, 2010 6:22am
Took +10 long on the 13:00 bar just entering green candle above ALF.

Exit at around 1.2400 because there may be contention at the big round number - don't want to be a part of it...
Old Benjamin was right
  • #857
  • Edited 6:39am Jun 17, 2010 6:24am | Edited 6:39am
Quoting simmo24
Hi Lou

First of all thanks for the system. I'm enjoying using it.
I have a question regarding trade entry. I've attached a picure which shows Alf is very flat, If anything moving up Slightly, but the PA is down and Alf is not reacting at all (Gbp/Jpy), Is this a no trade scenario.

Thanks
Simmo

I think P/A has just answered my question, but I'd appreciate your thoughts.
ALF never follows immediately but it does eventually (if a trend develops). That's the way it's supposed to work. When PA is ranging, it follows closely and vice-versa.

I originally thought (based on my testing at the time) that the slope of ALF was a factor - not so, that has been deprecated since early in the first thread. PA is always the best indicator on your chart - it has zero lag and will always tell you what's happening (if you look at it in tandem with S/R).
Old Benjamin was right
  • #858
  • Jun 17, 2010 7:00am Jun 17, 2010 7:00am
Dead in the water right now. I would consider long above 1.2410 (if it has some enthusiasm behind it).
Old Benjamin was right
  • #859
  • Jun 17, 2010 7:15am Jun 17, 2010 7:15am
Quoting Lou G
Dead in the water right now. I would consider long above 1.2410 (if it has some enthusiasm behind it).
EU has jumped from S1 to R3 about 200 pips already, a bit scary for me to head further north...
I'm just gonna sit and watch for the moment. Have a quality screen time...

Btw.. already banked +30 healthy pips for today...Maybe it's best for me to lay low...
  • #860
  • Jun 17, 2010 7:28am Jun 17, 2010 7:28am
Quoting NiceGuy
EU has jumped from S1 to R3 about 200 pips already, a bit scary for me to head further north...
I'm just gonna sit and watch for the moment. Have a quality screen time...

Btw.. already banked +30 healthy pips for today...Maybe it's best for me to lay low...
I hate you guys who can be awake to trade the London...
Old Benjamin was right
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