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Attachments: 1min scalping using mtf ALF by bbolss
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1min scalping using mtf ALF by bbolss

  • #241
  • Jun 18, 2010 5:01am Jun 18, 2010 5:01am
Quoting Horuss
Hey mate. I can see on your chart 2 instances of going short according to your system. any reason you didnt take them? I mean those two on the left before you went long
Didn't know which entry you were talking about here but here is my take on it if it helps at all:

Entry 1 is sound IMO. Price did make a higher high but the wicks on the peak of the last high show you that price is getting rejected. The signal bar is a nice momentum bar so i'd have had no problem trading that.

Entry 2 is one I really like but it probably breaks the OP's rules as price didn't really retrace back into the ALF. Nice little pin bar in a strong move and then a momentum bar.

Entry 3 is a valid entry but a failed trade. However, price has made a higher high and the signal bar has a long wick against your trade showing rejection. Given that it had already made a strong move, I couldn't have traded that one.

I'm guessing that bbolss wasn't around for the good entries.
Attached Image (click to enlarge)
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  • #242
  • Jun 18, 2010 5:02am Jun 18, 2010 5:02am
depends on a day
but like 7-15

thanx u2
  • #243
  • Jun 18, 2010 5:09am Jun 18, 2010 5:09am
Quoting Trotty

Entry 3 is a valid entry but a failed trade. However, price has made a higher high and the signal bar has a long wick against your trade showing rejection. Given that it had already made a strong move, I couldn't have traded that one.

I'm guessing that bbolss wasn't around for the good entries.
check out how osma nicly filter this 3rd bad entry
  • #244
  • Jun 18, 2010 5:17am Jun 18, 2010 5:17am
Quoting bbolss
check out how osma nicly filter this 3rd bad entry
Good point!
  • #245
  • Jun 18, 2010 6:27am Jun 18, 2010 6:27am
Quoting Trotty
Didn't know which entry you were talking about here but here is my take on it if it helps at all:

Entry 1 is sound IMO. Price did make a higher high but the wicks on the peak of the last high show you that price is getting rejected. The signal bar is a nice momentum bar so i'd have had no problem trading that.

Entry 2 is one I really like but it probably breaks the OP's rules as price didn't really retrace back into the ALF. Nice little pin bar in a strong move and then a momentum bar.

Entry 3 is a valid entry but a failed trade. However,...
Thanks for your input mate. regarding entry 2 what you mean it didnt retrace back to mlf? i thought i needs to just cross it and then you enter at close.

Also can you tell me why you suggest trading london session only?

Last thing. can you help me a little bit with the exits? I always either close early or too late ;-(

cheers
  • #246
  • Jun 18, 2010 6:58am Jun 18, 2010 6:58am
Quoting Trotty
Didn't know which entry you were talking about here but here is my take on it if it helps at all:

Entry 1 is sound IMO. Price did make a higher high but the wicks on the peak of the last high show you that price is getting rejected. The signal bar is a nice momentum bar so i'd have had no problem trading that.

Entry 2 is one I really like but it probably breaks the OP's rules as price didn't really retrace back into the ALF. Nice little pin bar in a strong move and then a momentum bar.

Entry 3 is a valid entry but a failed trade. However,...

Pls have a look at attached pic. Why would you filter enter in red circle?

cheers
Attached Image (click to enlarge)
Click to Enlarge Name: 1.jpg Size: 89 KB
  • #247
  • Jun 18, 2010 7:11am Jun 18, 2010 7:11am
Quoting Trotty
Didn't know which entry you were talking about here but here is my take on it if it helps at all:

Entry 1 is sound IMO....
Yip, if you can read PA, you will be right most of the time.

  • #248
  • Jun 18, 2010 7:12am Jun 18, 2010 7:12am
Quoting Horuss
Thanks for your input mate. regarding entry 2 what you mean it didnt retrace back to mlf? i thought i needs to just cross it and then you enter at close.

Also can you tell me why you suggest trading london session only?

Last thing. can you help me a little bit with the exits? I always either close early or too late ;-(

cheers
I would be happy to take entry 2 but I think the rules are that it needs to close inside the ALF and then close across it in the direction of the trade, Bbolss can perhaps clarify.

London session is important for me as this is when price moves the most. My spread on EU is 1.6 so if the moves are small, your spread is accounting for too large a percetage of your stops and take profits to make it viable.

You will never nail exits so that you are bang on every time...or even close to be honest. The absolute must for me is to let a trade run to at least give you 1:1 risk reward (remember to include your spread). If you are losing £50 on losing trades but only making £30 on your winners, a winning strategy will usually become a losing one.

Moving your stop to break even after a move of 80-90% of your stop will prevent some winners turning into losers.

If price seems to be really moving, try and hang out for a few more pips. Only experience will let you see this. You can usually tell when you are in a "flyer"
  • #249
  • Jun 18, 2010 7:13am Jun 18, 2010 7:13am
Quoting Horuss
Pls have a look at attached pic. Why would you filter enter in red circle?

cheers
Not sure what you mean mate?
  • #250
  • Jun 18, 2010 7:21am Jun 18, 2010 7:21am
Quoting Trotty
Not sure what you mean mate?

Well the red circle entry i would take as it broke below m1 mlf and m5 mlf is going down plus it broke previous low. But eventually it turned into failed signal
  • #251
  • Jun 18, 2010 7:24am Jun 18, 2010 7:24am
Quoting Trotty
Not sure what you mean mate?
Because you know the basics of price action you can make a call easier and does not follow the signals blindly.

A sign of a good trader.

  • #252
  • Jun 18, 2010 7:28am Jun 18, 2010 7:28am
Quoting matlobien
Because you know the basics of price action you can make a call easier and does not follow the signals blindly.

A sign of a good trader.


Thats great but what did you see at this price action that you would skip that entry
  • #253
  • Edited 7:50am Jun 18, 2010 7:37am | Edited 7:50am
Quoting Horuss
Well the red circle entry i would take as it broke below m1 mlf and m5 mlf is going down plus it broke previous low. But eventually it turned into failed signal
The candle you circled is in no man's land. It wasn't crossing the ALF, it had crossed the ALF 12 candles earlier for a good trade.

You will have losers with this, you have losers with EVERY trading method. The only way to filter them all out is to never trade again.
  • #254
  • Jun 18, 2010 7:37am Jun 18, 2010 7:37am
Quoting matlobien
Because you know the basics of price action you can make a call easier and does not follow the signals blindly.

A sign of a good trader.

  • #255
  • Jun 18, 2010 7:41am Jun 18, 2010 7:41am
Quoting Trotty
I would be happy to take entry 2 but I think the rules are that it needs to close inside the ALF and then close across it in the direction of the trade,...
for me it was good to take the second no clear stay out of alf but cross on stoch witn at least 50%lvl touch

and osma bellow 0
  • #256
  • Jun 18, 2010 7:43am Jun 18, 2010 7:43am
Quoting Trotty
The candle you circled is in no man's land. It wasn't crossing the ALF, it had crossed the ALF 12 candles earlier for a good trade.

You will have losers with this, you have losers with EVERY tradiung method. The only way to filter them all out is to never trade again.
  • #257
  • Jun 18, 2010 7:49am Jun 18, 2010 7:49am
Quoting bbolss
for me it was good to take the second no clear stay out of alf but cross on stoch witn at least 50%lvl touch

and osma bellow 0
Cool, cheers mate.
  • #258
  • Jun 18, 2010 8:28am Jun 18, 2010 8:28am
Quoting bbolss
for me it was good to take the second no clear stay out of alf but cross on stoch witn at least 50%lvl touch

and osma bellow 0
bb

Could you please post your new template with osma and stoch ?

Thanks

  • #259
  • Jun 18, 2010 8:40am Jun 18, 2010 8:40am
i will post it next week
for now it is changing with every hour
now im thinking if the normal osma give us something ore just the huge one and it looks a litle crayzy
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  • #260
  • Jun 18, 2010 8:52am Jun 18, 2010 8:52am
and im still thinking about some money managment for it so i have a realy realy important question

did anyone saw 3 or 4 losing signals in a row?
its realy important so think about it look at your charts check your trades
especialy the losing ones and post answer...
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