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ALF revisited - simple, effective daytrading

  • #1,001
  • Jun 24, 2010 6:27pm Jun 24, 2010 6:27pm
Quoting KumoDragon
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?...
Anyone have an answer for #2?
  • #1,002
  • Jun 24, 2010 8:28pm Jun 24, 2010 8:28pm
Quoting losingtrades
you were 1000...congrats...

anyone else seen this thread?

http://www.forexfactory.com/showthread.php?t=241420
One minute is too much for me.

A guy named Brijon has started a thread using a simlar principal to this. Here is the link: http://www.forexfactory.com/showthread.php?t=242404

I am in the process of combining this system and the above using a line chart, alf line and the alf alert arrows. Way too early to tell.
  • #1,003
  • Edited 1:34am Jun 25, 2010 1:01am | Edited 1:34am
Continuing my previous post.

Here is another example of the pattern that keeps repeating itself on EU M5. I won a lot... I mean a LOT from this....

Attached Image (click to enlarge)
Click to Enlarge Name: Alf_EU_11.jpg Size: 90 KB


This is ACE. Only play when you have one...
Please look my previous post on this thread for explaination.
  • #1,004
  • Edited 1:30am Jun 25, 2010 1:15am | Edited 1:30am
Again and again....

Attached Image (click to enlarge)
Click to Enlarge Name: Alf_EU_12.jpg Size: 38 KB


Use it wise my friend
  • #1,005
  • Edited 4:02am Jun 25, 2010 3:26am | Edited 4:02am
Another 15 pips coming....
Could have done it more easily... but I only need 15 pips.
Just closed a couple of minutes ago after today's london open.

This is friday and this was the last trade for me this week.
No lose trades for this week.

Keep the pips comin boys!

Attached Image (click to enlarge)
Click to Enlarge Name: Alf_EU_13.jpg Size: 92 KB
  • #1,006
  • Jun 25, 2010 3:35am Jun 25, 2010 3:35am
good clear insight of your trades NICEGUY
  • #1,007
  • Jun 26, 2010 3:09am Jun 26, 2010 3:09am
Want to thank Lou for this system!
I´ve carefully tested maybe 40 diferent things during the last 3 years..
I know Elliot and Fibos by heart,Bill W.....etc.. plus excellent software...nothing worked beyond BE...except for a RSX system with thin profits...that I still trade.
I trade Oanda, (lots are 1 $), so I adjust my lots exactly, 2 lots, each 0,5% of my account.
With Alf I use 10 pairs, 15 M and H charts.Filter simple EW ,specially carefull when against trend, then I look for divergence of W5... Up to 10 trades a day..2 hours of work.
Use an auto trail (some 2 bars below/above entry), and a 0,68 and 1,68 TP for each lot.If the first one reaches target, I make a little anyhow.
So once I put the trade, I move to the next opportunity and forget that one till its `finished.
Results on 30 trades are awsome:around 0,35 R average.
Want to see 100 trades, better 1000.
Consider this: 10 double trades a day, at say, 0,2 R, roughly 400 trades a month...makes 80 R profit (0,5%)...Then:40 % monthly??
Compound that precisely, and it´s hard not to dream of a Lamborghini (just joking, I like electric cars)..

Anyway, future will tell...it´s fun in the meantime...

Thanks again Lou...
  • #1,008
  • Edited 8:23am Jun 26, 2010 8:19am | Edited 8:23am
Quoting cuchuflito
Want to thank Lou for this system!
I´ve carefully tested maybe 40 diferent things during the last 3 years..
I know Elliot and Fibos by heart,Bill W.....etc.. plus excellent software...nothing worked beyond BE...except for a RSX system with thin profits...that I still trade.
I trade Oanda, (lots are 1 $), so I adjust my lots exactly, 2 lots, each 0,5% of my account.
With Alf I use 10 pairs, 15 M and H charts.Filter simple EW ,specially carefull when against trend, then I look for divergence of W5... Up to 10 trades a day..2 hours of work.
Use...
Can you clarify what you mwan by "Filter simple EW"......what is EW?

You say you "use 10 pairs, 15 M and H charts", .....does this mean you have 20 charts open.....do you use the Hourly chart to help you decide what to do on the 15m

Which pairs do you trade?

One thing that I struggle with is how many pairs to pay attention to.
I want to look for the best trades, so trading multiple pairs allows me to shop for the best set up......but having so many charts open is cumbersome

PGPB
  • #1,009
  • Jun 26, 2010 8:29am Jun 26, 2010 8:29am
"Can you clarify what you mean by "Filter simple EW"......what is EW?"
______________________________________________________

Elliot Wave perhaps?
  • #1,010
  • Jun 26, 2010 6:44pm Jun 26, 2010 6:44pm
If we want to use the candle opposite color change method of exiting an ALF trade, do we wait until the candle closes, or as soon as it shows any color opposite?

For instance if in a short trade, then the next candle turns green (as it starts) do I get out right then and there, or wait for it to close to confirm it's color.

My concern with exiting on color change is that it may just be fluctuation at the start of the candle and then it turns back to color in my favor. (On that same candle)
  • #1,011
  • Jun 26, 2010 9:42pm Jun 26, 2010 9:42pm
Quoting KumoDragon
If we want to use the candle opposite color change method of exiting an ALF trade, do we wait until the candle closes, or as soon as it shows any color opposite?

For instance if in a short trade, then the next candle turns green (as it starts) do I get out right then and there, or wait for it to close to confirm it's color.

My concern with exiting on color change is that it may just be fluctuation at the start of the candle and then it turns back to color in my favor. (On that same candle)
Simply watch support and resistance. If you're long and price holds ABOVE a former resistance area, stay in to the to the next resistance area (and vice versa)
Attached Image (click to enlarge)
Click to Enlarge Name: act_alf_eur.gif Size: 10 KB
  • #1,012
  • Jun 26, 2010 10:22pm Jun 26, 2010 10:22pm
p.s. I'm fully aware that my signature will give you complete confidence
to adhere to anything I might like to add to the conversation.

That being said, I will bow out and leave it to those who can.

BTW... NiceGuy.. you're doing a GREAT job
  • #1,013
  • Jun 27, 2010 10:30am Jun 27, 2010 10:30am
Quoting KumoDragon
If we want to use the candle opposite color change method of exiting an ALF trade, do we wait until the candle closes, or as soon as it shows any color opposite?

For instance if in a short trade, then the next candle turns green (as it starts) do I get out right then and there, or wait for it to close to confirm it's color.

My concern with exiting on color change is that it may just be fluctuation at the start of the candle and then it turns back to color in my favor. (On that same candle)
Does anyone have a direct answer to the color change question.

Thanks traderunner for your input, but I wanted an answer about color the color change exit, not on ways how to hold on as long as possible.

Looking at the charts of ALF I can see that a color change is often a good early exit to keep profit or make losses small. So, that is why I need a direct answer to the question.
  • #1,014
  • Jun 28, 2010 12:09am Jun 28, 2010 12:09am
Quoting TradeRunner
Simply watch support and resistance. If you're long and price holds ABOVE a former resistance area, stay in to the to the next resistance area (and vice versa)
Hi Traderunner,

Which pivot indicator are you using?

Thanks pbb
  • #1,015
  • Jun 28, 2010 11:23am Jun 28, 2010 11:23am
Just did my first successful ALF based trade on the 15M.

Got up at 6, wanted to be ahead of the news at 7:30

It was not a text book entry, but to me it looked like a retrace and likely to continue short.

It was more or less, went against me by 11pip, then the next textbook ALF short entry ended up being very close to my actual short entry.

Went +20 then retraced, stayed in because to me it looked like it had more available short.

Eventually it retraced again and I took +30. AS of where price is now I could have held on for more, but I'd been in this trade since very early and it's already 11:00.... and +30 is very nice. And I didn't have the patience to wait through another retrace that might just reverse on me.

If any more experienced with ALF would like to give me a tip or two feel free.
Attached Image (click to enlarge)
Click to Enlarge Name: kumodragonalf1.gif Size: 19 KB
  • #1,016
  • Jun 28, 2010 12:14pm Jun 28, 2010 12:14pm
Quoting pbb
Hi Traderunner,

Which pivot indicator are you using?

Thanks pbb
Hope it helps.
Attached File(s)
File Type: ex4 Auto Pivot2.ex4   16 KB | 403 downloads
  • #1,017
  • Jun 28, 2010 12:16pm Jun 28, 2010 12:16pm
to all:

which t/f's are you having most success with using Alf?


thanks,
jacob
  • #1,018
  • Jun 28, 2010 12:24pm Jun 28, 2010 12:24pm
Timeframe M15 for me ...

(The second entry was not soooo good, to early .... )
( I´m a very very bad Trader tooo .... )
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy m15x1.gif Size: 11 KB
  • #1,019
  • Jun 28, 2010 12:33pm Jun 28, 2010 12:33pm
Quoting bretlee
Timeframe M15 for me ...

(The second entry was not soooo good, to early .... )
( I´m a very very bad Trader tooo .... )

B:

thanks for your fast reply.

on your graph, the first trade, it appears you waited two more candles to enter after close below alf. Can you explain. do you wait for more confirmation?

-jacob
  • #1,020
  • Jun 28, 2010 12:34pm Jun 28, 2010 12:34pm
Quoting losingtrades
to all:

which t/f's are you having most success with using Alf?


thanks,
jacob
I hope this one answer your question buddy...
I lost 4 live pips today..........

Attached Image (click to enlarge)
Click to Enlarge Name: Alf_EU_14.jpg Size: 93 KB


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