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ALF revisited - simple, effective daytrading

  • #901
  • Jun 18, 2010 8:46am Jun 18, 2010 8:46am
trade on the Loonie

should be self explanatory
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  • #902
  • Jun 18, 2010 9:05am Jun 18, 2010 9:05am
Hello MoneyMaker, same trade but I exit at BE after nothing happens in 20-30 mins then it fall
  • #903
  • Edited 9:58am Jun 18, 2010 9:58am | Edited 9:58am
Quoting freedomsg
Hi Lou, what is the differnet between the said two? I post a chart which I took on just now and it end up hitting my sl. I just want to know am I right to take a long right after the white and green candle? Or am I not right? You have been a great help to us, please do not close down the shop. We need a place to share and ask if we are in doubt. Thank You Lou....
White candle is still up, so that's where you want it to go - green chunk only tells you that it crossed resistance at that point. Just eyewash, IMHO, but when I mentioned dumping it (the split candles), many objected
Old Benjamin was right
  • #904
  • Edited 10:15am Jun 18, 2010 10:14am | Edited 10:15am
Quoting pilotui
Of when NOT to trade...Lou I think this qualifies as a "Flat-liner"

Seriously! Stay Away!!
Yeah, I saw that first thing when I booted up - had some errands to do anyway, so I was out the door.

Been back about 30 mins and still the same - nothing, even on the London.
Old Benjamin was right
  • #905
  • Jun 18, 2010 10:21am Jun 18, 2010 10:21am
... after a LOT more work.

ALF is the only actual indicator here. Four time frames are shown simultaneously. Chart is M1, green boxes are M5, blue are M15 and the red one is H1.
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Old Benjamin was right
  • #906
  • Jun 18, 2010 10:54am Jun 18, 2010 10:54am
Very flat early, some thin soup later (more like consomme, really).

Flat market, no trend, so long/short are both options. The chart shows two obvious trades (but you had to be on M5 to get them). Exit points are also obvious.
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Old Benjamin was right
  • #907
  • Jun 18, 2010 11:03am Jun 18, 2010 11:03am
Looks like the market flipped on me when I didn't expect it. Chart below.

http://img248.imageshack.us/img248/4509/alfbadpa.jpg

I should have paid more attention to the MACD -- lots of downward pressure and the ALF indicator alone shouldn't have been enough for me to jump in.

Doh! Live and learn.
  • #908
  • Jun 18, 2010 12:51pm Jun 18, 2010 12:51pm
Man, nothing but chop today.

1 good short on GU today...not much +26

Have a good weekend all.

-Darren
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  • #909
  • Jun 18, 2010 1:06pm Jun 18, 2010 1:06pm
Quoting Lou G
... after a LOT more work.

ALF is the only actual indicator here. Four time frames are shown simultaneously. Chart is M1, green boxes are M5, blue are M15 and the red one is H1.
Good thinking! I would keep the timeframes as a parameter of choice.

Kostas
  • #910
  • Jun 18, 2010 1:27pm Jun 18, 2010 1:27pm
Lou - would you please post the TradeStation code for ALF (apologies if you have done so already, but I don't see it on either thread) ?

Thanks & have a great weekend.
  • #911
  • Jun 18, 2010 2:48pm Jun 18, 2010 2:48pm
Quoting jtrade
Lou - would you please post the TradeStation code for ALF (apologies if you have done so already, but I don't see it on either thread) ?

Thanks & have a great weekend.
You can find the EasyLanguage code at John Ehlers website in a document called "Time Warp Without Space Travel" on the Technical Papers tab.
Old Benjamin was right
  • #912
  • Jun 18, 2010 2:52pm Jun 18, 2010 2:52pm
Quoting kostas1
Good thinking! I would keep the timeframes as a parameter of choice.

Kostas
But of course - along with colors, widths and everything else I can think of.
Old Benjamin was right
  • #913
  • Jun 18, 2010 4:28pm Jun 18, 2010 4:28pm
Quoting pilotui
Man, nothing but chop today.

1 good short on GU today...not much +26

Have a good weekend all.

-Darren
Hi

Can I have your latest telplate file.

Thanks
Make money Not pips
  • #914
  • Jun 18, 2010 4:45pm Jun 18, 2010 4:45pm
Quoting Lou G
You can find the EasyLanguage code at John Ehlers website in a document called "Time Warp Without Space Travel" on the Technical Papers tab.
Thank-you, Lou .
  • #915
  • Jun 18, 2010 5:33pm Jun 18, 2010 5:33pm
Very cool system, the simplest the better.

I didn't took any trades with this system yet, but just seeing all of those screenshots and the past oportunities on the chart, i think one of the most powerfull PA sign to have a good entry is the 1-2-3 pattern, most of the time of your entries had a clear 1-2-3 pattern supporting the cross, most powerfull on 15m.

I'll try it out. Very good thread, thanks for sharing.
  • #916
  • Jun 18, 2010 5:36pm Jun 18, 2010 5:36pm
Anybody else struggle today on fibre? Friday plus no major news... think I should have had the day off trading!

Up until then, the week had gone well with only minor losses (which I should have stuck out and they would have come good).

How are most people trading? I trade fibre on M5, running ALF, IT candles and pilotui filters (along with manually drawing trendlines). I use fixed limits and stops.
  • #917
  • Jun 18, 2010 6:39pm Jun 18, 2010 6:39pm
Hi Lou,

Been watching your system and think its great , learning a lot thanks. Was wondering if you or anybody else could program an alert for when the fractals appear on the 5 min chart and if you did would it be universal for all pairs. reason being I mainly trade the EURJPY.

Thanks in Advance
Phillipe
  • #918
  • Jun 18, 2010 6:48pm Jun 18, 2010 6:48pm
IMHO, one of the better "filters" for this Method of Action is an SMA 38 (HL/2).
It will approximate the ALF on the next higher time frame.
Do not short when the 38 MA is pointing above a 3 o'clock position, etc. etc.

Thanks to Lou and ALL who have put time and effort into this thread. I continue to be amazed at the generosity and a desire to help by so many who post on Forex Factory. May you all be incredibly wealthy !
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  • #919
  • Jun 18, 2010 11:22pm Jun 18, 2010 11:22pm
Lou,

If you do leave, I predict within 2 or 3 weeks all the charts being posted will look like TradeRunners, except with 3 or 4 more moving averages on the main screen and the CCI, Stochastic, MACD and maybe a couple more on the bottom. Traders just don't trust simplicity and demand complexity. I'm not sure why, but it seems to happen to every method that anyone talks about. Thread after thread has gone that way, and none have improved the performance of the original idea. Oh well.

I trust everyone with multiple indicators got 200 pips from the Swissie a couple of nights ago, plus 150 on the Pound and another 100 on the Euro. All clean, obvious ALF crosses. That was a real good week's trading in about four hours real time.

Lou, give up trying to find a complementary indicator to the ALF, it doesn't need it. Go back to trading and make a lot of money. Your threads will die of indicator overload, but a few of us will think kindly of you whenever we bank a nice profit.

Thanks,

Dick
  • #920
  • Edited 8:13am Jun 19, 2010 2:40am | Edited 8:13am
Despite what Dick has said below...and it's his opinion

I have had several requests for my latest template. (make sure you have downloaded AdaptiveLaguerreFilter.mq4 and Instant_Trend.ex4)

Attached is a zip file with all my custom indy's which I have spent the last 48 hours back testing on the LFH Simulator.(just type it in the search box on FF) I'm not going to make an outrageous claim like I made 35K trading only the ALF (Dick) without proof...

So please download the simulator and test it out this weekend. (To force myself to be honest, I'll pick a random month in from 2007 on and test my trading) Then you'll be ready to go London Open Monday.

Please note the only active email alerted indy is the green line (Elucidated indy) when it crosses it's mid-line...then just follow my on-screen checklist.

I won't be starting a thread for my approach to Lou's system, but if someone wants to feel free. (I just don't have the time)

Lou, this will be my last non-trade related post on this thread.

Once again please email me with questions.

-Darren
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