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Monster Muncher Manual Trading Discussion: Compliments SH

  • #21
  • Aug 6, 2010 3:50am Aug 6, 2010 3:50am
Quoting pipsacker
Hi Steve,

Loaded everything and charts look like the ones you use. I have none of the red, green, or blue lines on any of them. Does it make a difference if my broker uses 4 or 5 digit charts?
Thanks.

pipsacker
Make sure you have the EA loaded into your broker>experts. And the template loaded into your broker>templates.

Right click a blank chart and select the template. Should work weather or not your broker is a 4 or 5 digit.
  • #22
  • Aug 6, 2010 4:06am Aug 6, 2010 4:06am
Thanks Steve for your quick response! I'm glad I asked so I won't be overly eager to hit the entry button when it approaches 40/60. I've been taking a look at the charts and I'm liking the simplicity of your whole system. I'm getting a glimpse of the kinds of pips you can capture. Simply awesome!

When you talk about retracement, just want to clarify -- for example, price under the green line, RSI = 30 so you're looking to go long. But say you missed that first entry, then if price continues to stay below the green line, RSI =30 again, you enter long again. Is that correct?

Quick confirmation, at the beginning of every hour, reload the template to refresh the charts?

Thanks again...looking forward to next week and it's not even Friday!
Best,
Leftcoaster
  • #23
  • Aug 6, 2010 4:14am Aug 6, 2010 4:14am
Quoting leftcoaster
Thanks Steve for your quick response! I'm glad I asked so I won't be overly eager to hit the entry button when it approaches 40/60. I've been taking a look at the charts and I'm liking the simplicity of your whole system. I'm getting a glimpse of the kinds of pips you can capture. Simply awesome!

When you talk about retracement, just want to clarify -- for example, price under the green line, RSI = 30 so you're looking to go long. But say you missed that first entry, then if price continues to stay below the green line, RSI =30 again, you enter...
Yes, if you missed your first entry because the RSI didn't hit your mark, then it comes back and triggers you are definitely good to go long in that situation.

Or if you mean that price hit the RSI mark the first time, but you just missed the trade because you aren't watching, and then it comes back and hits 30 again, then I would also say yes, I don't see why you couldn't take the second trade.

Yes refresh 1Hr charts every hour. You will see a shift in the chart because for some reason it recalculates, maybe because it was originally designed to count 18 four hour bars.

By the way 4 hour data is ready to go at Thurs 12 AM ET, I think. Its possible to find retrace trades on the 4 hour charts. Don't think I would use them for breakout/red line trades though.
  • #24
  • Aug 6, 2010 4:29am Aug 6, 2010 4:29am
To be honest, I was actually thinking the missed trade was because I wasn't awake when it occurred (sleeping always gets in the way of a 24 hour market!) Which brings up my next question. Have you noticed if there are preferrable market hours for your strategy? Also do you stand aside in front of news like tomorrow's NFP?

Thanks for replying so quickly and thoroughly! Much appreciated!
Leftcoaster
  • #25
  • Aug 6, 2010 4:56am Aug 6, 2010 4:56am
Quoting leftcoaster
To be honest, I was actually thinking the missed trade was because I wasn't awake when it occurred (sleeping always gets in the way of a 24 hour market!) Which brings up my next question. Have you noticed if there are preferrable market hours for your strategy? Also do you stand aside in front of news like tomorrow's NFP?

Thanks for replying so quickly and thoroughly! Much appreciated!
Leftcoaster
8 PM Est to 5 AM Est is when I'm watching the charts. European session is the height of things during those times, but Asian sessions have also been pretty active lately. I'd watch NY too if could stay awake, but like you said, a person has to sleep. But yeah you know, the major session times are always the best times of activity.
  • #26
  • Aug 6, 2010 5:08am Aug 6, 2010 5:08am
Quoting stevefx
8 PM Est to 5 AM Est is when I'm watching the charts. European session is the height of things during those times, but Asian sessions have also been pretty active lately. I'd watch NY too if could stay awake, but like you said, a person has to sleep. But yeah you know, the major session times are always the best times of activity.
8pm - 5am EST is quite doable for me as well then my eyes start feeling heavier and the body....

I'm looking forward to next week and your strategy's continuing success! Many pips to all!
  • #27
  • Aug 6, 2010 7:04am Aug 6, 2010 7:04am
u can try RSI 4 .. to test...
  • #28
  • Aug 6, 2010 8:24am Aug 6, 2010 8:24am
Hi SteveFx,

Downloaded exactly like you said. Charts look like the ones you use, except never any lines to trade. All the charts have the same readings on the left side. ADR Not Reached is on all of them too.
Any ideas?
Thanks.

pipsacker
  • #29
  • Aug 6, 2010 8:46am Aug 6, 2010 8:46am
The ADR not reached is from another indy I have which I'd put on that template. I don't really use it though its useful. It measures Daily Average Range, and shows how many more pips are needed to reach the average Daily High and Average Daily Low. It says ADR not reached when it hasn't met its overall average Daily Range movement. I'll post the indy below. Goes to your broker>experts>indicators

As far as why you aren't getting any lines I'm not totally sure. I'll post a couple diiferent versions and you can see if they work any better.

But before doing anything else, just try dragging the EA onto your chart from the Experts section without using the template.
Attached File(s)
File Type: ex4 ADR_no_sunday_bar.v1.ex4   6 KB | 402 downloads
File Type: mq4 Stevefx.mq4   7 KB | 435 downloads
File Type: mq4 BreakoutV2.mq4   20 KB | 401 downloads
File Type: mq4 BreakoutV3.mq4   20 KB | 399 downloads
  • #30
  • Aug 6, 2010 8:50am Aug 6, 2010 8:50am
steve what are these files? i use the breakout 4 you posted first.. really amazing strategy.. i like.. thanks
  • #31
  • Aug 6, 2010 8:58am Aug 6, 2010 8:58am
Quoting mistersimple
steve what are these files? i use the breakout 4 you posted first.. really amazing strategy.. i like.. thanks
The top file is just an indicator which shows the Average Daily Range. Its included with the template I posted earlier, so if you download it to:

your broker>experts>indicators,

then load the template it show up in the bottom left hand corner. It will show you how much room up and how much room down you have before you hit the expected Average Daily Movement for a specific pair. Theoretically it could be incorporated into a TP strategy. But I haven't used it yet as such. I was just playing around with it when I included the template on the first page, and forgot I had it there. So is optional.

The rest of the files below that are just different versions of the Monster Mucher system. They go to:

your broker>experts

You don't need them if everything is already working for you. I'm just posting them because this fellow above is having some trouble with the latest version. So maybe one of these others will do the trick for him.

-Cheers
  • #32
  • Aug 6, 2010 9:31am Aug 6, 2010 9:31am
Hi SteveFx,

Thanks for all your help. It just does not work for me. The Breakout v.4 shows up on the custom indicators, but clicking on it does not add it to the chart. I will keep watching the thread. Maybe someone else will have the problem and a remedy.

pipsacker
  • #33
  • Aug 6, 2010 9:40am Aug 6, 2010 9:40am
Quoting pipsacker
Hi SteveFx,

Thanks for all your help. It just does not work for me. The Breakout v.4 shows up on the custom indicators, but clicking on it does not add it to the chart. I will keep watching the thread. Maybe someone else will have the problem and a remedy.

pipsacker
It should not show up on custom indicators. It should show up in Expert Advisors, with the sort of blue flying saucer images next to them.

If it is showing up in Custom Indicators then you have it placed in the wrong file.

Again, it goes in:

your broker>experts

Not your broker>experts>indicators

This could be your problem.

-Cheers
  • #34
  • Aug 6, 2010 9:49am Aug 6, 2010 9:49am
UJ is giving the long signal on the retrace. We'll see how it works out.
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYretrace.png Size: 505 KB
  • #35
  • Aug 6, 2010 9:55am Aug 6, 2010 9:55am
thnks steve.. but i have different pic for usdjpy .. my green line is at 85.48
  • #36
  • Aug 6, 2010 9:56am Aug 6, 2010 9:56am
Quoting mistersimple
thnks steve.. but i have different pic for usdjpy .. my green line is at 85.48
Refresh the template, see if you get a different pic.
  • #37
  • Aug 6, 2010 10:24am Aug 6, 2010 10:24am
still doesnt change.. thnks anyway..
  • #38
  • Aug 6, 2010 10:27am Aug 6, 2010 10:27am
Hi SteveFX,

Finally got it working. Put into experts and refreshed the template.
Thanks.
My USD/JPY is a bit different, too. Probably broker thing. Mine never closed on or below the green line. It spiked through it a couple of pips and went back up. Would this be an acceptable trade?

pipsacker
  • #39
  • Aug 6, 2010 10:38am Aug 6, 2010 10:38am
Quoting pipsacker
Hi SteveFX,

Finally got it working. Put into experts and refreshed the template.
Thanks.
My USD/JPY is a bit different, too. Probably broker thing. Mine never closed on or below green line. It spiked through it a couple of pips and went back up. Would this be an acceptable trade?

pipsacker
Glad to hear you got it working. Is a little troublesome that people are getting different takes UJ. If you can do me a favor and download the
"stevefx" version which I posted a few posts back.

Again place it into:

your broker>experts

then drag it onto your screen, and uncheck "allow live trading"

then see if you get the same pic as me.

-Thanks
  • #40
  • Aug 6, 2010 10:49am Aug 6, 2010 10:49am
Hi Steve

my green line is at 86.475 with the stevefx and breakout 4 versions.
Im using fx pro. may i ask which broker you have the charts on, so I may download the demo and see if I get the same price for the green line on USDJPY 1 hr chart.

All the best
Ian
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