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PM Forex Strategy

  • #281
  • Jul 1, 2010 8:06am Jul 1, 2010 8:06am
Yesterday I tried demoing this system for the first time and it was great. Wonderful. Today, everything I do goes against me. I wanted a simple clean chart and I'm using the EU 15 & H1. I have been reading NiceGuy and Fokusnik and loosingtrades and have learned what I know but that's not getting it today like it did yesterday. I have been using the semifor for entry and exit. Following Fokusnik's advice. I have Alf and 21 on my chart and SR. I want this to work. Is the EA still doing it's thing?
Thanks guys. I appreciate all you are doing. I'm in the process of reading the whole thread but interruptions make it difficult.
I think this is gonna be good if I past today!
Thanks again.
s
Jacob, where are you!
  • #282
  • Jul 1, 2010 8:47am Jul 1, 2010 8:47am
sanyhuis, I'm very sorry that today everything went against you, but frankly speaking I don't understand how come.

I don't trade EURUSD, I prefer other pairs, but let's take a look at the charts.

On M-15 we can see a perfect entry after London open - at 10:00 AM. I showed it in a circle. IT IS PERFECT! It is a third candle according to iamnoel's rules, and at this moment all four MTF's dots are aligned. So you could enter 10:00 AM 1.2246

When the currency got a semafor alert on M-15, it also got a semafor alert on H-1. So you should go to H-1 and watch it there. You can exit right now, 1.2407 (and that would be 161 pips!), but the Heiken Ashi on H-1 is still strong, so I would wait a little longer.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: EURUSD H-1.gif Size: 173 KB
  • #283
  • Jul 1, 2010 9:27am Jul 1, 2010 9:27am
Quoting Syahmi
Hi there.... you need this indy (attached)... add into ur indicator folder.

Hello Sayami,
Thanks for all the help. Here are 4 signals to buy. Three are winners and One is a looser,..... not bad for today !!
Attached Image (click to enlarge)
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  • #284
  • Jul 1, 2010 9:46am Jul 1, 2010 9:46am
Great trading day!!!
Attached Image (click to enlarge)
Click to Enlarge Name: pmforex_1.gif Size: 20 KB
  • #285
  • Jul 1, 2010 9:52am Jul 1, 2010 9:52am
sanyhuis, and one more thing.

You said: "I wanted a simple clean chart"

On the other hand, you said that you also have ALF and SR.

I don't want to offend anybody, and I do know that some of the people here are much more experienced than I'm, but in my humble opinion you have way too many indicators: NonLagMa (21), Alf, SR, semafor.

For example, I use for the entry NonLagMA (21), my MTF is the same NonLagMA, it is just convenient to have MTF, but both NonLagMA (21) and MTF show the same data. And you use for entry NonLagMa (21), Alf and SR, and these indicators are based on a very different principles and show the data differently and if you are not very experienced, it could make a lot of confusion.

And the same with exit, as far as I understand you use now for the exit ALf, SR, semafor, Heiken Ashi. The same thing - way too many indicators...

I like iamnoel's system for its simplicity and clarity, basically it has ONLY ONE indicator (NonLagMA) that works pretty damn good whether it is 21 and 84 or 21 and MTF.
  • #286
  • Jul 1, 2010 9:52am Jul 1, 2010 9:52am
Well, today is an exceptional day for European Cross as they Rocketing to the moon....

Some traders will got heavy crashed, some will make huge profits. Oh well.. This is just another day in forex business...
  • #287
  • Jul 1, 2010 10:36am Jul 1, 2010 10:36am
Quoting Fokusnik
sanyhuis, I'm very sorry that today everything went against you, but frankly speaking I don't understand how come.

I don't trade EURUSD, I prefer other pairs, but let's take a look at the charts.

On M-15 we can see a perfect entry after London open - at 10:00 AM. I showed it in a circle. IT IS PERFECT! It is a third candle according to iamnoel's rules, and at this moment all four MTF's dots are aligned. So you could enter 10:00 AM 1.2246

When the currency got a semafor alert on M-15, it also got a semafor alert on H-1. So you should go to...


that is a sweet interpretation...it helped me out.

thanks,
jacob
  • #288
  • Jul 1, 2010 10:50am Jul 1, 2010 10:50am
jacob, I live in Ohio, but I decided that I'm gonna make it on Forex, so I sleep during day and trade both London and NY.

But I understand, that some people can't enter at 10:00 AM. But if you go to H-1 and if you watch several different currencies, not just EURUSD or USDJPY, you'll probably find some good entries before NY Open and after NY Open.
  • #289
  • Jul 1, 2010 11:00am Jul 1, 2010 11:00am
Quoting sanyhuis
I have been using the semifor for entry and exit. Following Fokusnik's advice.
sanyhuis, I never use the semafor for entry! I use it only for exit. It is important!

I use NonLagMA and MTF for entry (according to the iamnoel's rules). I use the semafor and Heiken Ashi for exit.
  • #290
  • Jul 1, 2010 11:05am Jul 1, 2010 11:05am
Quoting Fokusnik
jacob, I live in Ohio, but I decided that I'm gonna make it on Forex, so I sleep during day and trade both London and NY.

But I understand, that some people can't enter at 10:00 AM. But if you go to H-1 and if you watch several different currencies, not just EURUSD or USDJPY, you'll probably find some good entries before NY Open and after NY Open.

hey...what about your business that you run? giving it up?

btw, you will do great at forex.

for me, right now, trying to work a day job (pays the bills), balance family and forex. I need to get into the habit of waking up at 4:00am EST to trade london.


-Jacob
  • #291
  • Jul 1, 2010 11:06am Jul 1, 2010 11:06am
Quoting Fokusnik
sanyhuis, I'm very sorry that today everything went against you, but frankly speaking I don't understand how come.

I don't trade EURUSD, I prefer other pairs, but let's take a look at the charts.

On M-15 we can see a perfect entry after London open - at 10:00 AM. I showed it in a circle. IT IS PERFECT! It is a third candle according to iamnoel's rules, and at this moment all four MTF's dots are aligned. So you could enter 10:00 AM 1.2246

When the currency got a semafor alert on M-15, it also got a semafor alert on H-1. So you should go to...
Thank you Fok. I should have said "I went against everything"rather than say It went against me. When I saw the semifor on the H1 I kept jumping the gun on entering and ended up with 2 huge sells that should have been buys. I finally pulled out the papers I had printed with your instructions and began to reread. From there on it went well. I've still got 2 big bad trades but I have a feeling tomorrow will help take care of those or maybe they will become long term trades. Anyway, I've read the whole thread now and while I'm doing and am comfortable with EU, I also like GU and am familiar with it as well. In this early stage I'm happy with what I have, but am keeping my eyes open for another pair. Hopefully it will be GU, or GY. I will sit down in a bit and look over the indi's and see what can be done with them.
Thanks so much for your time and thoughts in helping me with this. It's not often I find something I'm comfortable with and I am with this one. Getting more so each hour.
s
  • #292
  • Jul 1, 2010 11:26am Jul 1, 2010 11:26am
Quoting losingtrades
hey...what about your business that you run? giving it up?

btw, you will do great at forex.

for me, right now, trying to work a day job (pays the bills), balance family and forex. I need to get into the habit of waking up at 4:00am EST to trade london.


-Jacob
Jacob, I'm in the internet-based business, so I can handle both business and Forex for a little while.

I'm sure that thanks to this thread and thanks to iamnoel we all are going to do great at Forex.

Waking up at 4:00 AM EST is probably a very good idea! Good for you!
  • #293
  • Jul 1, 2010 11:33am Jul 1, 2010 11:33am
Quoting sanyhuis
Thank you Fok. I should have said "I went against everything"rather than say It went against me. When I saw the semifor on the H1 I kept jumping the gun on entering and ended up with 2 huge sells that should have been buys. I finally pulled out the papers I had printed with your instructions and began to reread. From there on it went well. I've still got 2 big bad trades but I have a feeling tomorrow will help take care of those or maybe they will become long term trades. Anyway, I've read the whole thread now and while I'm doing and am comfortable...
sanyhuis, I'm glad that you understood your mistakes, now you're gonna do just fine! We live and we learn!

I think for this system GBPUSD is better than GBPJPY. For this system I also like AUDUSD and NZDUSD.
  • #294
  • Jul 1, 2010 12:26pm Jul 1, 2010 12:26pm
I'm glad to hear that. While I would like to trade the GJ, it's a bit too much for a beginning system. I might have to save that for later days. I do like GU. Aud and NZ sound very interesting too.
Thanks for all the help. I crammed this whole thread in this afternoon while watching the charts. I bit of a headache now but after awhile it will all sink in where it needs to go. I think it's going to be a very profitable business, this thread. I haven't seen one that felt so good since Geoff's GB H1 EA. That one is a prize also.
PS How is the EA working on this one? Anyone tried it yet?
Again, thanks for all your help.
  • #295
  • Jul 1, 2010 1:32pm Jul 1, 2010 1:32pm
Quoting sanyhuis
I think it's going to be a very profitable business, this thread. I haven't seen one that felt so good since Geoff's GB H1 EA. That one is a prize also.
sanyhuis, I agree!

I have a VERY GOOD feeling about this system, never felt like this before! NEVER! I don't just think that we'll succeed, I KNOW that we'll succeed!

And what is very important: this system works on any timeframe, so everybody can use it for his favorite timeframe! Just look at Syahmi and maxwell-eqtn - they kick butts on M-5!
  • #296
  • Jul 1, 2010 1:42pm Jul 1, 2010 1:42pm
Quoting sanyhuis
I'm glad to hear that. While I would like to trade the GJ, it's a bit too much for a beginning system. I might have to save that for later days. I do like GU. Aud and NZ sound very interesting too.
sanyhuis, before this system I traded mostly GBPUSD, GBPJPY and EURJPY, never traded EURUSD. But of course EURUSD is very good for this system. I looked at the history, went through my notes, looked at the last week's trades and decided: next week with this system I'm gonna trade EURUSD, GBPUSD, AUDUSD and NZDUSD.

I think we can trade GBPJPY and EURJPY with this system too, and it can be very profitable, BUT we have to be very careful, someting like this: if EURUSD and USDJPY go in the same direction, we can trade EURJPY, if GBPUSD and USDJPY go in the same direction, we can trade GBPJPY. So it is a VERY big BUT, and for now I agree with you - it's a bit too much for a beginning system!
  • #297
  • Jul 1, 2010 2:13pm Jul 1, 2010 2:13pm
Friends, you are very close to a very good system here!
I just wanted to suggest something. If you want to trade nonlagMA with higher timeframe confirmation then you might consider using just two MAs instead of the 4TF bars.
For example, if you want to trade M15 with H1 confirmation, you may use one nonlagMA period 20 and another period 80.
4TF bars include too much information, besides it is very often lagging.


P.S. My personal choice would be to use period 20 and period 80 for any timeframe. Or period 20 and period 160 if wanting to be more conservative.
  • #298
  • Jul 1, 2010 2:33pm Jul 1, 2010 2:33pm
Quoting sanyhuis
I'm glad to hear that. While I would like to trade the GJ, it's a bit too much for a beginning system. I might have to save that for later days. I do like GU. Aud and NZ sound very interesting too.
Thanks for all the help. I crammed this whole thread in this afternoon while watching the charts. I bit of a headache now but after awhile it will all sink in where it needs to go. I think it's going to be a very profitable business, this thread. I haven't seen one that felt so good since Geoff's GB H1 EA. That one is a prize also.
PS How is the EA working...

Since almost all of the members of FF have more trading experience than you and me, maybe you should stick with one pair only like me. Then, master that, then move on.

Now, I am trading UJ 5M and I am learning fast with the help of so many great people on FF. If you work too many pairs, it can lead to brain exhaustion.

I am trading UJ, learning its every move. Then, when I can predict it better, I can increase my lots. This way, I trade less and choose the best possible trading opportunities.

Just look at NG's charts. he makes a few daily trades...trades EU, and gets in and gets out...gets his pips. Since he has almost mastered that pair, I am sure he is not trading .1 lots...probably much higher...less trades, less losses...choosing better opportunities.


Just my suggestion. Hope it helps.


Jacob
  • #299
  • Jul 1, 2010 2:39pm Jul 1, 2010 2:39pm
Quoting Indrek
I just wanted to suggest something. If you want to trade nonlagMA with higher timeframe confirmation then you might consider using just two MAs instead of the 4TF bars.
For example, if you want to trade M15 with H1 confirmation, you may use one nonlagMA period 20 and another period 80.
4TF bars include too much information, besides it is very often lagging.


P.S. My personal choice would be to use period 20 and period 80 for any timeframe. Or period 20 and period 160 if wanting to be more conservative.
Indrek, it is a very good idea and I'm sure some of us will follow your advice. The simpler - the better!

Yesterday I tried to compare NonLagMA(84) and the third bar (H-1's bar) on M-15. It seems that their signals are almost the same. But I haven't tested it long enough, so maybe I'm wrong. Obviously we need much more tests.

Maybe you're right about MTF bars giving too much information. When I work on M-15, I look mostly at the bottom bar and the third (H-1) bar. But on the other hand 3 bars' alingment shows better signal than 2 bars' alignment and 4 bars' alignment is a better signal than 3 bars' alignment.
  • #300
  • Jul 1, 2010 2:41pm Jul 1, 2010 2:41pm
Quoting Indrek
Friends, you are very close to a very good system here!
EXACTLY!!!
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