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PM Forex Strategy

  • #541
  • Edited 1:23pm Jul 12, 2010 12:30pm | Edited 1:23pm
Quoting Indrek
As it was discussed before, an MTF bar indicator, when used on m15 chart, can change 1 bar of m15, two bars of m30, four bars of h1 and 16 bars of h4 in real time. Naturally, the arrows disappear when it happens.
I'm aware of that, but this doesn't explain why I have diffrent indications in separate windows, both with the same setup, for now I can point only one difference between them, MTF bar indicator in the first window is from template and h4 is at the bottom (m15, m30, h1, h4), MTF bar indicator from the second window isn't from template but h4 is at the top (h4, h1, m30, m15).

Quoting Indrek
It has no meaning for trading but makes backtesting impossible. If you want to backtest, use MP
I backtested MTF bar indicator on History Training from 2.6.2010 to 12.7.2010 and I didn't notice any vanishing arrows so this must be very rare phenomenon
  • #542
  • Jul 12, 2010 12:53pm Jul 12, 2010 12:53pm
Quoting Edźwin
I'm aware of that, but this doesn't explain why I have diffrent indications in separate windows, both with the same setup, for now I can point only one difference between them, MTF bar indicator in the first window is from template and h4 is at the bottom (m15, m30, h1, h4), MTF bar indicator from second window isn't from template but h4 is at the top (h4, h1, m30, m15).
Check how many dots you have set for the arrow? If it is 3 then it means 3 from bottom. If one indicator is upside down then the arrows must not match.
It is up to you if h4 is above or m15.
  • #543
  • Jul 12, 2010 1:32pm Jul 12, 2010 1:32pm
Quoting Indrek
Check how many dots you have set for the arrow? If it is 3 then it means 3 from bottom. If one indicator is upside down then the arrows must not match.
It is up to you if h4 is above or m15.
thanks for quick reply, you resolved my all doubts, cheers
  • #544
  • Jul 13, 2010 1:33am Jul 13, 2010 1:33am
Thanks for that DM3554. I have installed the NonLag and now I have nice little coloured boxes in the 4Bar.
  • #545
  • Jul 13, 2010 3:21am Jul 13, 2010 3:21am
Quoting bobha
Thanks for that DM3554. I have installed the NonLag and now I have nice little coloured boxes in the 4Bar.
  • #546
  • Jul 20, 2010 5:23am Jul 20, 2010 5:23am
Seems like this thread is also dead. It often happens to the best threads like this one or Andrew Forex or ALF Revisited... Why most people are looking for some total mess full of indicators?
There is a thread in FF where a "guru" teaches people how to trade on the basis of PA only. And it is being done using 7 indicators Sounds impossible but it is not, just crazy
No really good system that I have seen uses more than 3 indicators.
  • #547
  • Jul 20, 2010 5:48am Jul 20, 2010 5:48am
Yeah, so sad... anyways, whats the link of "guru"?

Is it good?
  • #548
  • Jul 20, 2010 6:00am Jul 20, 2010 6:00am
Quoting iamnoel
Yeah, so sad... anyways, whats the link of "guru"?

Is it good?
It is sick. Maybe funny if you have a strange sense of humor
I cannot believe how some people buy such crap...
  • #549
  • Jul 20, 2010 6:44am Jul 20, 2010 6:44am
Quoting Indrek
It is sick. Maybe funny if you have a strange sense of humor
I cannot believe how some people buy such crap...


  • #550
  • Jul 20, 2010 9:08am Jul 20, 2010 9:08am
In my opinion, there's some good stuff in this thread. I'm having success with my interpretation of the concepts and indicators.

The NLMA-MTF-4... has some flaws, but the idea behind is solid (inho). It can sometimes give a signal too early and will not remove those arrows. You need to bring up the indicator in the indicator list, select Edit, and Ok without making any changes and it will repaint correctly. But, if ou are looking at the indicator itself you can tell when the false signal is occuring. I will have to go into the code to look further.

I find the signals on the M15 and H1 are very good. Stops are placed below previous high/low and exits are taken with the NonLag.... If looking at M15 exits come with M15 or M5 NonLag... changing direction. On H1, exits come with H1 or M15 NonLag.

Essentially, the NLMA-MTF-4... is telling you when the trend is in line across many timeframes. When this occurs you have momentum in your favor. You may not get in at the start of the move, which is also the riskiest time, but you are getting in when the odds are in your favor. And, with the NonLagMA.... you are exiting neer turning points.

I also look at the Pivot Points D, W, & M, the 200 EMAs, trendlines, and S/R in general. NLMA-MTF-4... signals coming around areas of confluence can be powerfull and merit a larger position. These areas can also give you better Stop level placement. The use of these levels is also one of the reasons why I don't think trying to totally automate (EA) this is worth the effort.

I try not to filter signals (guess which will be good or bad), but rather take all signals when I am watching the markets. The only exception is that going back historically, I find the majority of bad signals will come between 6pm and midnight EST. The NonLagMA... turning will get you out of most choppy situations long before your Stop.

I'm subscribed so I'll see if anyone is still open to exchanging ideas.

Artie
The market is always right.
  • #551
  • Edited 5:54pm Jul 20, 2010 12:46pm | Edited 5:54pm
Hi everybody!

I don't think that the thread is dead, I'm sure people will read it six month from now or even a year from now.

As far as I understand the traders that have been active in this thread have found their own styles, created their own modifications, and it is a very good thing. However having this good thing the traders don't want to talk any more - they want to trade and make money! And it's natural!

They also don't want to waste their time arguing about the additional indicators. And they are right!

As for me: when I trade using MTF or MP as an alert tool - I get good, solid results (both M-15 and H-1, six currencies: EURUSD, GBPUSD, EURJPY, GBPJPY, AUDUSD, NZDUSD).

However, I don't trade this way very often any more.

Right now I'm trying to get rid of MTF and also change the settings, testing NonLagMA (9) or NonLagMA (14). In other words, I'm trying to make the system faster and more simple and reliable.

Of course, the tests take a lot of time, but I know: if I succeed with these tests - that's great, otherwise - I can always go back to NonLagMA (21) and MTF or MP.
  • #552
  • Edited 5:00am Aug 5, 2010 4:38am | Edited 5:00am
Yes, it's getting cold around here....
I guess you guys must be too busy trading...

Well, I am still playing around with this stuff and try to arrange a good MM to work with this.

And you know what? When you get the hang of it, you can almost tell which one is the false signal from the right one. I am constanly risking small pips (20 pips max) in 15 TF and aim for ridiculously large TP. Many times, I could nail more than 50-100 pips with only risking 10 pips + Spread. Look for a signal just before London, Newyork, and the close of Europe and stick with high volatility pairs like GU, EJ, and GJ. You will see what I mean. I always put my SL at the back of the candles pointed by the arrows from MTF and I am looking for a small candles to enter. I think this system is great for risking ridiculously small to win ridiculously big kind of trading. We will have our loses but in the end we still making money from making the right entry less than 50% in long term. So keeping the SL closer and the TP far is the key here.

The only problem about this system is I think that MTF NonLag indicator is the one that causing the Lag Especially when opened simultaneously with multi pairs. I am using a Quad Core and 8 Gb system...

I never trade multi pairs before. But I am on my way in educating myself to do so. I am hoping this system could be my way in.

I wonder what's wrong with the lag? I am no coder, and I hope one of you guys could look inside the code to see if there's a problem in it.

Thanks again to all!
NG
  • #553
  • Aug 5, 2010 5:11am Aug 5, 2010 5:11am
Quoting NiceGuy
Yes, it's getting cold around here....
I guess you guys must be too busy trading...

Well, I am still playing around with this stuff and try to arrange a good MM to work with this.

And you know what? When you get the hang of it, you can almost tell which one is the false signal from the right one. I am constanly risking small pips (20 pips max) in 15 TF and aim for ridiculously large TP. Many times, I could nail more than 50-100 pips with only risking 10 pips + Spread. Look for a signal just before London, Newyork, and the close of Europe...

Good to see you again NG. Sounds like trading is going well for you.

-Jacob
  • #554
  • Aug 5, 2010 6:44am Aug 5, 2010 6:44am
Example of good trade....

GBPJPY - M15

Attached Image (click to enlarge)
Click to Enlarge Name: PM_08.jpg Size: 172 KB


Some Advice:
1. Keep Low SL and Keep High TP!
2. Put the SL Behind the candle with the arrow, if our entry is right the price will leave the SL Alone.
3. Stay Away if the candle is too big or already moving too far away from THV Coral. Enter only with the candle your MM can afford.
4. Look for entry just before London Open, NY Open or Europe Close. For JPY Cross, look entry during Toky but before Europe. This is where they ussualy changing direction.
5. If you can read divergence, that would be a plus!
  • #555
  • Aug 5, 2010 7:58am Aug 5, 2010 7:58am
Risk ridiculously small and Win Ridiculously Big

GU M15

Attached Image (click to enlarge)
Click to Enlarge Name: PM_09.jpg Size: 208 KB


This are there waiting for you, enter only when you see one.

Next I will show you guys how to see a bad trades....
  • #556
  • Aug 5, 2010 9:08am Aug 5, 2010 9:08am
More than 100 pips a day by continuously risking less than 20 pips.

Attached Image (click to enlarge)
Click to Enlarge Name: PM_10.jpg Size: 265 KB


Keep the entry candles small and close to THV Coral MA
  • #557
  • Aug 5, 2010 9:30am Aug 5, 2010 9:30am
NiceGuy, thank you for sharing! I really appreciate it and I'll take a look at THV Coral MA and do some demo-testing.

I still like PM strategy, but I decided to find something even simpler, so for the last week I've been trading using just Heiken Ashi and the semafor. Heiken Ashi is amazing when you know how to use it!

So, I trade GBPJPY and EURJPY with just two indicators, Heiken Ashi and the semafor, and so far I'm very pleased with the results.

I also like a lot BBands stop:
http://www.forexfactory.com/showthread.php?t=248649

I think for H-1 GBPJPY it is the best indicator ever. I mean it!
  • #558
  • Aug 5, 2010 10:06am Aug 5, 2010 10:06am
Hi Fokusnik!

Glad you can do well out there..

I still playing around with this PM just to figure out how to trade well with this one. It turns out well...

The Idea of this small candles entry is to risk small and win big.

For example:
Take 10 trades with risking 20 (or lesser) pips SL consistently and aim for 50 (or even bigger pips ). The worst case scenario happened If you lose 7 trades you lose 140 pips, but you will also win 3 trades earning 150 pips. There is still 10 pips in our bank...

See how 30% right will earn you money. If you can not make 30 % right,...well, I dont see the reason why we should bother trading at the first place...

With the idea behind PM strategy aplied to high volatility pairs like EJ, GU and GJ, I believe making 50-100 pips is not that rare from happening. And the statistic will not come to that worst if you trade this with a decent knowledge about the system.

So look for arrowed small candles close to the THV and make your guess! It's as simple as that.

Btw here's another example:
Attached Image (click to enlarge)
Click to Enlarge Name: PM_11.jpg Size: 334 KB
  • #559
  • Aug 5, 2010 10:30am Aug 5, 2010 10:30am
The orginal system became a mess of indicators and a cpu hog. LOL
so much for simple
  • #560
  • Aug 5, 2010 10:39am Aug 5, 2010 10:39am
Quoting NiceGuy
Hi Fokusnik!

Glad you can do well out there..

I still playing around with this PM just to figure out how to trade well with this one. It turns out well...

The Idea of this small candles entry is to risk small and win big.

For example:
Take 10 trades with risking 20 (or lesser) pips SL consistently and aim for 50 (or even bigger pips ). The worst case scenario happened If you lose 7 trades you lose 140 pips, but you will also win 3 trades earning 150 pips. There is still 10 pips in our bank...

See how 30% right will earn you money....


NG...thanks again.

A few questions if you don't mind...

1. The MA THV Coral...is this different than the original nonlag MA from IAMNOEL? If so, can you post it?

2. Which t/f do you use mostly to plan your trade setups?


thanks buddy
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