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  • #741
  • Aug 9, 2010 9:16am Aug 9, 2010 9:16am
Quoting yaed
Hi

Yes i was refering to these charts you posted.

The second signal on the first chart, at around 16:15 on the chart makes good use od the MMVG lines and if it behaved like this a lot i can see why you would want to use MMVG. On this occasion CCI and BBands gave signal at roughly the same time.

The first circled signal on the first chart does not make sense to me however. The CCI signal circle and the circle around the price showing it outside of bbands is not synchronized in time. Besides the MMVG lines seem not to do much of anything here,...
Hi yaed

Could it be that this system isn't the right one for your trading style? Then may be it's better to go away from this system or adapt it in your own way till you feel better with it. There are a lot of systems here at FF which might have more strictly rules for entries and exits. This system gives the market its breath and it doesn't really interesting me if my proft is now 5 or 10 pips higher. My main target is that I will earn a profit with this system AND THAT THIS SYSTEM WILL GIVE ME A HIGHLY PRACTICAL USE.

Kindest regards

FxCube
  • #742
  • Aug 9, 2010 9:33am Aug 9, 2010 9:33am
Quoting Forexcube
Hi yaed

Could it be that this system isn't the right one for your trading style? Then may be it's better to go away from this system or adapt it in your own way till you feel better with it. There are a lot of systems here at FF which might have more strictly rules for entries and exits. This system gives the market its breath and it doesn't really interesting me if my proft is now 5 or 10 pips higher. My main target is that I will earn a profit with this system AND THAT THIS SYSTEM WILL GIVE ME A HIGHLY PRACTICAL USE.

Kindest regards

FxCube...
Yes it would seem i dont understand how you trade, if it is the case that you are not interested in discussing it then it will remain so.
My signature is: "Classified".
  • #743
  • Aug 9, 2010 9:42am Aug 9, 2010 9:42am
I am kind of interested in using fractals somehow. It seems they give signal on formerly closed candles, so they repaint in other words. But what are they for really? How to use them effectively? Anyone have experience in this?
My signature is: "Classified".
  • #744
  • Aug 9, 2010 9:56am Aug 9, 2010 9:56am
Quoting yaed
Yes it would seem i dont understand how you trade, if it is the case that you are not interested in discussing it then it will remain so.
Sorry yaed

That's not my communication level.

You are here at Hoss's thread and so we discuss at first his great system.

My system is posted at:
http://www.forexfactory.com/showthread.php?t=249257

Keep it up!
  • #745
  • Aug 9, 2010 11:01am Aug 9, 2010 11:01am
Quoting Forexcube
Sorry yaed

That's not my communication level.

You are here at Hoss's thread and so we discuss at first his great system.

My system is posted at:
http://www.forexfactory.com/showthread.php?t=249257

Keep it up!
Yes i see youre point
My signature is: "Classified".
  • #746
  • Aug 17, 2010 8:27am Aug 17, 2010 8:27am
I got caught up in the news and lost over 70k today but I just traded this method 2 times in a row with 10 lots and made 5 pips consecutively in each trade.

It gave me hope again : ) Thanks Hoss and everybody for this thread. I will continue working with and trying this method and keep you posted. I have tried so many different methods! I hope this one works for me....
  • #747
  • Aug 17, 2010 8:50am Aug 17, 2010 8:50am
hoss, respect to you for this.

truly awesome.
  • #748
  • Aug 17, 2010 8:52am Aug 17, 2010 8:52am
Quoting yaed
I am kind of interested in using fractals somehow. It seems they give signal on formerly closed candles, so they repaint in other words. But what are they for really? How to use them effectively? Anyone have experience in this?
apparently bill williams loves his fractals.

so that must mean something.
  • #749
  • Aug 19, 2010 10:39pm Aug 19, 2010 10:39pm
I have tried every method of averaging in to see if I could've dug my way out on the July 1st breakout and nothing worked. I think if someone got caught up in that, they could've easily wiped out their account if they weren't using an SL.

I like trading this system without an SL, like Hoss, however, Hoss, or anyone, how could one have dug their way out of the July 1st breakout?
  • #750
  • Aug 25, 2010 3:35am Aug 25, 2010 3:35am
i m very thankful to you hoss
its been 8 months i m struggling with forex
now ur startegy make me realize that i m a scalper by nature
i enjoyed trading this way and my account size is growing back.
i only trade for 1 or two hours and reach my daily target
i only open a trade for 5 minutes and it always closed in profit
i dont care whether it is 3 pips or 7 or 10
i just close it after 5 minutes
8 out of 10 go in profit
biggest loss i got yesterday is 4 pips
thanks again

p.s
i m still trying to learn how to trade longer time frames on a demo account
  • #751
  • Aug 25, 2010 4:16am Aug 25, 2010 4:16am
Quoting I am SS
I have tried every method of averaging in to see if I could've dug my way out on the July 1st breakout and nothing worked. I think if someone got caught up in that, they could've easily wiped out their account if they weren't using an SL.

I like trading this system without an SL, like Hoss, however, Hoss, or anyone, how could one have dug their way out of the July 1st breakout?
Ive been dealing with the same thing over and over again. And there are other breakouts to deal with on backdata, but there are ways. Im on M5 right now, but i think i learned alot from Hoss and Forexcube and the guys here, not that i trade much like what is described here but i learned from it.
My signature is: "Classified".
  • #752
  • Aug 26, 2010 8:43am Aug 26, 2010 8:43am
Quoting I am SS
I have tried every method of averaging in to see if I could've dug my way out on the July 1st breakout and nothing worked. I think if someone got caught up in that, they could've easily wiped out their account if they weren't using an SL.

I like trading this system without an SL, like Hoss, however, Hoss, or anyone, how could one have dug their way out of the July 1st breakout?

This is why I am always looking for a big breakout before I get into trades. I never trade when it is quiet. The market is poised for a big move. I haven't seen the chart for that day, nor could I tell you exactly where I would have entered at this point, but I can say that I would have not got in way too early. When you trade this way, you have to fear/respect the breakout move.
Life is too short to have anything but delusional notions about yourself.
  • #753
  • Aug 27, 2010 4:15am Aug 27, 2010 4:15am
Quoting hoss
This is why I am always looking for a big breakout before I get into trades. I never trade when it is quiet. The market is poised for a big move. I haven't seen the chart for that day, nor could I tell you exactly where I would have entered at this point, but I can say that I would have not got in way too early. When you trade this way, you have to fear/respect the breakout move.
i also trade in the same way
only trade when a big move occur
or after some heavy economic data hit the market
because counter trend is my friend
all i need is 5 to 10 pips and i m out
  • #754
  • Edited 5:38am Aug 27, 2010 5:26am | Edited 5:38am
Hi guys!

I'm too one of those who like to get out of a trade quick, and I take my trades off of the M1. However I also watch the M15 for reference.

The entry and exit is timed by the RSI(4), BBands(10,1.5,1.5), ADX(10), and Bulls/Bears power.
I also have implemented a simple indicator that shows me the spread on the chart, right to the current cande, I somehow need this.

What I also take into consideration: the time RSI spends obove vs below the median (50), or say the area above vs below the curve with respect to the median, which helps me to gauge the probability of a trade. My notion is that these areas tend to get balanced over time.

And I also count the number of consecutive (isodirectional) candles. So e.g. if price has moved 5 consecutive candles in the same direction, probability is very high the next candle will be in the opposite direction. This is based on observation.

The attached picture shows my setup (demo - 100% in 10 days). I mainly take trades when price is at a peak outside the BBands. This happens to coincide with very extremes in RSI, +DI/-DI.
Ahh - and this handy tool 'One Click Trading' at the upper left corner (M15), that I love so much..
Attached Image (click to enlarge)
Click to Enlarge Name: 151.PNG Size: 119 KB
  • #755
  • Aug 30, 2010 6:11am Aug 30, 2010 6:11am
Quoting m.m.m.
Hi guys!

I'm too one of those who like to get out of a trade quick, and I take my trades off of the M1. However I also watch the M15 for reference.

The entry and exit is timed by the RSI(4), BBands(10,1.5,1.5), ADX(10), and Bulls/Bears power.
I also have implemented a simple indicator that shows me the spread on the chart, right to the current cande, I somehow need this.

What I also take into consideration: the time RSI spends obove vs below the median (50), or say the area above vs below the curve with respect to the median, which helps me...
So how are things working out for you?
My signature is: "Classified".
  • #756
  • Aug 30, 2010 7:05am Aug 30, 2010 7:05am
Quoting I am SS
I have tried every method of averaging in to see if I could've dug my way out on the July 1st breakout and nothing worked. I think if someone got caught up in that, they could've easily wiped out their account if they weren't using an SL.

I like trading this system without an SL, like Hoss, however, Hoss, or anyone, how could one have dug their way out of the July 1st breakout?

So you can take the 2010.05.06 quite as well. If you don't trade with Stop Loss you could loose all your account money. Be aware that there will be periodic recurrence where big capital players will con money out of your accounts. Forex market will then be nescent more a "forex jungle". Charts are full of these sudden uncontrolled irrational moves. Most trading systems didn't work then in a properly manner. I don't trade with stop loss and put my money out if I have doubled or tripled or quadrupled it and it's better to have 3-4 accounts at different brokers with different trading strategies (range bound vs. trend strategies, short-term vs. long term strategies, break out system,...). Hoss's system is an extremely attractive one which everybody could easily implement in their strategy repertoire, indifferent if you change some parameters of it more to your personal trading style. If market get uncontrollable so it's better go out of the market and stay at the sideline for a spell. Next chance will come, ...sure!

Kindest regards
FXcube
  • #757
  • Sep 1, 2010 1:07am Sep 1, 2010 1:07am
Quoting m.m.m.
Hi guys!

I'm too one of those who like to get out of a trade quick, and I take my trades off of the M1. However I also watch the M15 for reference.

The entry and exit is timed by the RSI(4), BBands(10,1.5,1.5), ADX(10), and Bulls/Bears power.
I also have implemented a simple indicator that shows me the spread on the chart, right to the current cande, I somehow need this.

What I also take into consideration: the time RSI spends obove vs below the median (50), or say the area above vs below the curve with respect to the median, which helps me...
Do you mind posting a template for your setup? Thanks
  • #758
  • Sep 1, 2010 1:18am Sep 1, 2010 1:18am
Quoting hoss
This is why I am always looking for a big breakout before I get into trades. I never trade when it is quiet. The market is poised for a big move. I haven't seen the chart for that day, nor could I tell you exactly where I would have entered at this point, but I can say that I would have not got in way too early. When you trade this way, you have to fear/respect the breakout move.
Thanks for replying Hoss. The crazy breakout that day took place during a 2 hour period after an extremetly disappointing housing number out of the US.

As a result, and after doing some back testing, I discovered that trading this method during major news announcements could be disasterous. So guys, stay away from major news announcements, I repeat stay away
  • #759
  • Sep 1, 2010 5:47pm Sep 1, 2010 5:47pm
Quoting I am SS
Thanks for replying Hoss. The crazy breakout that day took place during a 2 hour period after an extremetly disappointing housing number out of the US.

As a result, and after doing some back testing, I discovered that trading this method during major news announcements could be disasterous. So guys, stay away from major news announcements, I repeat stay away

I agree, but there is also opportunity in there well after these announcements. The price won't move in a straight line forever. Try and get into a trade when the price is outside of the bands.
Life is too short to have anything but delusional notions about yourself.
  • #760
  • Sep 2, 2010 2:24am Sep 2, 2010 2:24am
Quoting hoss
I agree, but there is also opportunity in there well after these announcements. The price won't move in a straight line forever. Try and get into a trade when the price is outside of the bands.
Hoss, I'm having a problem setting up the Murrey Math, what period do you use, and what's the difference between "P" and "MM Period" in the settings, and which indicator you personally use.

One more question, what are you favorite pairs, and do you usually get in if the price is 30 pips or more from the EMA 200, or do you have to have a Murrey Math R or S, or a Pivot of some sort.

Cheers

SS
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