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ALF revisited - simple, effective daytrading

  • #981
  • Jun 24, 2010 6:35am Jun 24, 2010 6:35am
Quoting pgpb
I don't want to go into the use of this indicator as it would not be respectful to the original thread.

I threw it on, well because I liked Niceguy's EA, and I wanted to say thank you with something I use. I don't always use it, but it can be a filter

I will tell you that I also often use no indicator at all.
You can PM me if you are really keen on this indicator and I will help there...but not on this thread
I hope you understand

PGPB
Yup I understand.
  • #982
  • Jun 24, 2010 7:50am Jun 24, 2010 7:50am
Quoting NiceGuy
Tell me what you think? Or more important tell yourself what do you think will happen next?

Attachment

just signed on so i did not look to see what actually occurred...but my 2 pips version (and i did not look at other's comments either)

the most recent low surpassed the 2 previous lows...possible trend reversal pivot point bar was a possible trend reversal...much support and resistance, small drop in pips.

prob will test pivot point twice and third time could drop for nice pip profit
  • #983
  • Jun 24, 2010 8:10am Jun 24, 2010 8:10am
Quoting desi
Yup I understand.
Desi, got your private message. I can not put an image in a private message so I will answer in the thread. ....BUT to any one who thinks an indicator is going to turn your trading around you are wrong. The things that will turn your trading around are:

1/ screen time (demo trading then trading real small)
2/ money management (wins bigger than losses)

The QQE indicator shows a dark line (that is very similar to RSI)buy when it crosses above 50 and sell when it crosses below, the red dotted line MUST be below the dark blue line for buys and above the dark blue line for sells

Lots of people are trading ALF with PA (price action).....when I use the ALF method (don't always), I use ALF, PA, pivots and sometimes the QQE indicator as a filter

Hope this helps.


PGPB
Attached Image
  • #984
  • Jun 24, 2010 9:05am Jun 24, 2010 9:05am
been on a losing streak, not sure what went wrong. seems i'm always to slow to enter the trade. will go cool off while i observe the market...
  • #985
  • Jun 24, 2010 9:17am Jun 24, 2010 9:17am
Quoting NiceGuy
That was nothing... except oh nooooo... that's the highest of today

Attachment

Ride on baby!!!
Hope you ride this one as I did....

Can you explain what was your entry point on the trade and explain your reasoning?

We would appreciate it.
thanks
jacob
  • #986
  • Edited 10:57am Jun 24, 2010 10:11am | Edited 10:57am
Quoting losingtrades
just signed on so i did not look to see what actually occurred...but my 2 pips version (and i did not look at other's comments either)

the most recent low surpassed the 2 previous lows...possible trend reversal pivot point bar was a possible trend reversal...much support and resistance, small drop in pips.

prob will test pivot point twice and third time could drop for nice pip profit
You got it... But this time Price climbed fast on Tokyo but all the sudden the candles gradually getting smaller. We could see buyers would not want to risk Europe open. More buyers bailed out at the same time means we can expect a real fast drop. We have to act fast or else we would lose the momentum. Time for Small lots but longer trade.

Well that's what my mind say to me. I dont know about others. If you are new to EU just dont do this. Look for safer entry point.

Attached Image (click to enlarge)
Click to Enlarge Name: Alf_EU_10_edit.jpg Size: 110 KB


PS: This pattern is happening over and over again. If you oftenly wait for london you might noted this.
  • #987
  • Jun 24, 2010 11:01am Jun 24, 2010 11:01am
Please help. New to forum and Meta Trader. Reading the comments and down loaded files, where do I find "yourmt4" in MT. Do I have to create thes files and is so how do I do it. Would appreciate assistance, thanks.
  • #988
  • Jun 24, 2010 12:03pm Jun 24, 2010 12:03pm
Quoting gidjo
Please help. New to forum and Meta Trader. Reading the comments and down loaded files, where do I find "yourmt4" in MT. Do I have to create thes files and is so how do I do it. Would appreciate assistance, thanks.

yourmt4 is the platform demo you downloaded...fxcm, forex.com, alpari, etc.
  • #989
  • Jun 24, 2010 12:08pm Jun 24, 2010 12:08pm
Quoting NiceGuy
You got it... But this time Price climbed fast on Tokyo but all the sudden the candles gradually getting smaller. We could see buyers would not want to risk Europe open. More buyers bailed out at the same time means we can expect a real fast drop. We have to act fast or else we would lose the momentum. Time for Small lots but longer trade.

Well that's what my mind say to me. I dont know about others. If you are new to EU just dont do this. Look for safer entry point.

Attachment

PS: This pattern is happening over and over again....

man...you have so many strategies...please teach us more...maybe you should call out your trades on skype or something and then explain so we can learn and earn at the same time.

so, i see that you entered after it surpassed the two previous lows of support. got it now...thanks.


btw, do you trade fulltime or do you have another job? I have another job, and just find it difficult to find enough time to trade...but i am sacrificing family time at night to learn and study the charts.


thanks again
  • #990
  • Jun 24, 2010 1:40pm Jun 24, 2010 1:40pm
Been through most of this thread a couple of times. I have a few questions.

1. My, "alf alert," shows an, "e" instead of an arrow. I know this isn't because of anything messed up with the indicator because this exact same things happen on other indicators I have that are supposed to show an arrow. Does anyone know why this is happening and how I could change the, "e," to the prefered arrow.

2. Lou often says to determine the trend just look at where alf is now in relation to the left of the chart. BUT, is that zoomed all the way out? Because from different magnifications the comparison can be different.
  • #991
  • Edited 2:40pm Jun 24, 2010 2:26pm | Edited 2:40pm
Quoting losingtrades
yourmt4 is the platform demo you downloaded...fxcm, forex.com, alpari, etc.
Sorry late reply
Live MT4 from Boston Merchant Financial Can you help? Thanks
  • #992
  • Jun 24, 2010 3:07pm Jun 24, 2010 3:07pm
Quoting gidjo
Sorry late reply
Live MT4 from Boston Merchant Financial Can you help? Thanks

then it should be c:/programs/FXCM MT4/experts/indicators for all files except the .tpl

the .tpl goes into c:/programs/FXCM MT4/templates

then apply the template to the chart then apply the alert to the chart since that is not in the template
  • #993
  • Jun 24, 2010 3:16pm Jun 24, 2010 3:16pm
Only 5 posts left to 1000!
  • #994
  • Jun 24, 2010 3:18pm Jun 24, 2010 3:18pm
Quoting paradoxical
Only 5 posts left to 1000!

  • #995
  • Jun 24, 2010 3:28pm Jun 24, 2010 3:28pm
now we get the 1000 ....



>>>>> 3 now <<<<<
  • #996
  • Jun 24, 2010 3:33pm Jun 24, 2010 3:33pm
so we need new one coz im trying to adopte all the ideas posted here but...

new thread with brif introduction

Best Regards
  • #997
  • Jun 24, 2010 3:39pm Jun 24, 2010 3:39pm
Where is Lou?
  • #998
  • Jun 24, 2010 3:40pm Jun 24, 2010 3:40pm
Away - coz new and newer ideas were posted within here and Lou had the feeling he is not needed anymore... furthermore he wants to spend more time trading for himself!
  • #999
  • Jun 24, 2010 3:42pm Jun 24, 2010 3:42pm
Quoting nightyhawk
Away

you were 1000...congrats...

anyone else seen this thread?

http://www.forexfactory.com/showthread.php?t=241420
  • #1,000
  • Edited 4:05pm Jun 24, 2010 3:51pm | Edited 4:05pm
Quoting KumoDragon
Been through most of this thread a couple of times....
1. That will most likely be because of your installed fonts (wingdings specifically) - I'm guessing it comes up with ê and é?

2. That comes down to experience - it will vary with the time frame you are looking at, the zoom level, the market etc
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