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  • #701
  • Aug 31, 2010 8:48am Aug 31, 2010 8:48am
Quoting losingtrades
NG...on your mtf indicator, what are you looking for before making a trade commitment?


thanks buddy

Arrow!

Remember that I want to keep this system as simple as possible for me to follow. So I am looking for an arrow near the coral. Once I see that arrow come up then I measure the candle pointed by that arrow. If that candle is less than 20 pips, I am in. If that candle is too long I stayed away. I keep repeating that in all my trades. It is as simple as that.

I lost about 50% times but managed to dig out more than 400 pips so far (I lost count) with this strategy. Once I triple my USD 300 account I want to move this one to my regular Account and making real money there.

The key to success in this strategy is.. (as I said it oftenly) to use smallest SL as possible. My MM suggest me to use maximum of 20 pips as SL, but many times I use only 8-15 pips as SL. Take your losers easily and move on. You will get your winner soon enough. Make sure you aim at least twice your SL. Many times I aim triple and win.

Put your SL at the end of the candle with arrow (+ spreads) should oftenly do the trick.

One thing that also important to mention is .....Once you enter the trade, stay away. Let the market decide for you which one will get hit your SL or TP and accept that as part of the business. Many times I jumped to a trade and make a changes here and there but soon I realize that this activity is only do me more harm than good. Many times I failed to maximize my profit because I interfere the trade.

It's always tempting to close our trade as soon as we see 10 or 20 pips in our favour, but I realize that the more I do that the more I harm my MM and my whole trading statistic.

Dont be afraid to lose my friend... It's like Muhammad Ali who keep endures the hit from his opponent before finally make his move and put his opponent on the floor. His Statististic also said that Ali win the fight ridiculuously more than he lost it. It's like that. The profit of this strategy is coming out from the statistic we'll see in the end of the month and not by how many you won your trades.

So keep risking ridiculuously small and aim for ridiculuosly big.

If you do that with discipline, I am pretty sure that this strategy will beat the forex for you.

Hope this helps...


NG
  • #702
  • Aug 31, 2010 9:20am Aug 31, 2010 9:20am
Quoting NiceGuy
Arrow!

Remember that I want to keep this system as simple as possible for me to follow. So I am looking for an arrow near the coral. Once I see that arrow come up then I measure the candle pointed by that arrow. If that candle is less than 20 pips, I am in. If that candle is too long I stayed away. I keep repeating that in all my trades. It is as simple as that.

I lost about 50% times but managed to dig out more than 400 pips so far (I lost count) with this strategy. Once I triple my USD 300 account I want to move this one to my regular...


NG...this is good stuff.

Do you wait for the candle with arrow to close before entering trade?

Is 20 pips from high to low or from open to close?


thanks man
  • #703
  • Aug 31, 2010 10:16am Aug 31, 2010 10:16am
Quoting losingtrades
NG...this is good stuff.

Do you wait for the candle with arrow to close before entering trade?

Is 20 pips from high to low or from open to close?


thanks man
From Closing to the lowest for buy and Highest for sell. Dont forget to add your spread there. Yes, I waited that candle to closed.

You know what... I think you should try to trade this properly in demo. Open with only USD 300 - 400 in your demo account and see how well this will go for you. You are simply looking for small candles with arrow near coral to trade. If you can not afford that candle, stay away. It's as simple as that and it worked.

This strategy saves me from reading candles all the times. Just follow that arrow and dont revenge the market as soon as your trade hits SL. Take a rest and come back another day or at least wait for another market to open. Be patience. Dont get bothered with that "I should've done this or I should've not done that" sentences in your head. Be a robot, and enter those trade as you see them.

Based on my experience, this strategy is good enough to make money...
Just give it a try and do it properly.


NG
  • #704
  • Aug 31, 2010 10:52am Aug 31, 2010 10:52am
43 pips on the first and 21 pips on the second

I like how NG says....keep it simple, take trades near the coral, small SL, larger TP.....and the one bit of advice that I need to work on, is ......once in a trade, keep away and let the market either hit your TP or SL

PGPB
Attached Image (click to enlarge)
Click to Enlarge Name: gbp.png Size: 8 KB
  • #705
  • Aug 31, 2010 7:07pm Aug 31, 2010 7:07pm
thanks pbpg for your contribution to this strategy. I had abondoned it because it was such a memory hog, and the repainting on the arrow and MTF indie on the bottom made me nervous. I have downloaded your supertrend (which looks very similiar to the trendmagic indie), as well as your updated MTF. Looked it over this evening and made profit on first trade, even outside of normal business hours. I will dedicate to it again for the week and see how it goes.

I am assuming that it is still intended for M15 tf and pretty much all USD pairs. Is that correct?
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #706
  • Edited 3:46am Sep 1, 2010 3:13am | Edited 3:46am
pbpg, i am looking at the pm nonlag charts this morning. It seems that where I should see an arrow and a warning should be coming, (3 green boxes in the 4bar indie), there is no arrow. When i move to a different tf then come back to the 5M, the arrow shows where it should have before. I have also noticed that the 4bar indie will stop tracking after a bit. It comes back if I refresh the chart by switching timeframes then coming back. I am watching 4 charts at once. Could that be the problem? Am I missing something?
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #707
  • Sep 1, 2010 5:05am Sep 1, 2010 5:05am
Quoting capstone
pbpg, i am looking at the pm nonlag charts this morning. It seems that where I should see an arrow and a warning should be coming, (3 green boxes in the 4bar indie), there is no arrow. When i move to a different tf then come back to the 5M, the arrow shows where it should have before. I have also noticed that the 4bar indie will stop tracking after a bit. It comes back if I refresh the chart by switching timeframes then coming back. I am watching 4 charts at once. Could that be the problem? Am I missing something?
I have no idea, EllisEdi is the contributor who posted the indi, perhaps he knows.

I do not trade off 5 minute charts (two many false signals) and also I use my eyes.....if I see all the boxes line up I take a signal

It would be nice to get the arrow though......maybe the 5 minute bar had not finished ....maybe that is why you did not get an arrow.

I have not seen any issues/problems.

PGPG
  • #708
  • Sep 1, 2010 5:32am Sep 1, 2010 5:32am
I cant get the MTF indicator to work. It either crashes my mt4, or it just goes blank.

Will try to work out an alternative strategy using the rest of the set up by niceguy.
  • #709
  • Sep 1, 2010 7:19am Sep 1, 2010 7:19am
Quoting EllisEdi
Ok,
I just changed the way the indicator chooses how many bars back to go to draw the indicator on the chart. No other changes. On my system ( a few years old) ( a pentium d Duo 3.2 Mgz with 4GB ram ) used only 50percent of one processor and only 1 GB of memory while loading this indicator.

It took 3 minutes to load and it will look like your MT4 is hanging. The more bars you have on your chart the longer it will take to load...

I have not tested this in a live environment (since this is the weekend) but it should work well....

Mark,
Thanks a lot...

It works fine now...
  • #710
  • Sep 1, 2010 3:08pm Sep 1, 2010 3:08pm
Hi guys...

I wonder if you could help me out here. I need an indicator to to show me market open times in my chart as lines. Do you guys have one?

I am currently using dolly trading times indicator but this one can not show me the sidney and tokyo lines because it only has 4 available lines in it to setup.

Do you have something better?

I tried those paramount and other market times indi but those color block in the background is just too much for me. I want just a lines.

Please share if you have one...

Many Thanks


NG
  • #711
  • Sep 1, 2010 5:36pm Sep 1, 2010 5:36pm
Quoting NiceGuy
Hi guys...

I wonder if you could help me out here. I need an indicator to to show me market open times in my chart as lines. Do you guys have one?

I am currently using dolly trading times indicator but this one can not show me the sidney and tokyo lines because it only has 4 available lines in it to setup.

Do you have something better?

I tried those paramount and other market times indi but those color block in the background is just too much for me. I want just a lines.

Please share if you have one...

Many Thanks


NG
Hi NG,

I really like what you're doing here. I took my first demo trades with last night's London open. I had 4 winners out of 5 trades. I couldn't find any strong trends but I'll take +40 pips any day.

Try these indies. One should work for you.

Jim
Attached File(s)
File Type: mq4 Xi-VLines v1.01.mq4   13 KB | 586 downloads
File Type: ex4 FXI_mMktOpen.ex4   11 KB | 562 downloads
File Type: ex4 Market Hour Bars.ex4   8 KB | 578 downloads
  • #712
  • Sep 1, 2010 9:23pm Sep 1, 2010 9:23pm
Quoting jimsforex
Hi NG,

I really like what you're doing here. I took my first demo trades with last night's London open. I had 4 winners out of 5 trades. I couldn't find any strong trends but I'll take +40 pips any day.

Try these indies. One should work for you.

Jim
Many Thanks for the indicator Jim...
I am also glad that you appreciate my contribution to this thread.

I love that winners... Make sure to keep them bigger than your losers and keep them comin'...

I know many of you guys still nervous trading the MTF because the fact that it repaints. All I can say is.....

If you dont make money trading this strategy, it must be because you did not trade it properly.

Small SL and bigger TP is your answer to this.... Cut your losers short and keep your winners run until it hits the final base... If watching and waiting is too much for you. Just Enter those trades and shut down that stupid computer you keep on starring all day... and go find a party some place else .



NG
  • #713
  • Sep 2, 2010 9:25am Sep 2, 2010 9:25am
Quoting NiceGuy
Many Thanks for the indicator Jim...
I am also glad that you appreciate my contribution to this thread.

I love that winners... Make sure to keep them bigger than your losers and keep them comin'...

I know many of you guys still nervous trading the MTF because the fact that it repaints. All I can say is.....

If you dont make money trading this strategy, it must be because you did not trade it properly.

Small SL and bigger TP is your answer to this.... Cut your losers short and keep your winners run until...


Hi NG,

I read your posts, they are really interesting and helpful. But I wonder how and when you decided to close position.

Are you using an indicator like Semafor Alert? Or any other strategy?

Thanks.
W
  • #714
  • Sep 2, 2010 9:49am Sep 2, 2010 9:49am
Quoting wibaw
Hi NG,

I read your posts, they are really interesting and helpful. But I wonder how and when you decided to close position.

Are you using an indicator like Semafor Alert? Or any other strategy?

Thanks.
W
I am using fixed TP. My TP usually double or tripple of my SL.
  • #715
  • Edited Sep 4, 2010 7:43am Sep 3, 2010 9:16am | Edited Sep 4, 2010 7:43am
I am not trading today because of it being Friday and NFP
I thought I would post an indicator and template that I find interesting

The MTF Shaff Trend indicator can be helpful for confirming trend and entries and exits

I have a 30 minute Shaff indicator on top of a 15 minute one

anyways......looks interesting to me.

I will be having a closer look at this over the weekend.

PGPB

PS. The Blue line is the ALF indicator

PPS. Ignore the red and green vertical lines, they are simply NY and London open and close times
Attached Image (click to enlarge)
Click to Enlarge Name: schaff.png Size: 12 KB
Attached File(s)
File Type: mq4 MTF Schaff Trend v2.02.mq4   9 KB | 626 downloads
File Type: tpl 4barsnlma.tpl   246 KB | 558 downloads
  • #716
  • Sep 3, 2010 1:57pm Sep 3, 2010 1:57pm
I just finished a profitable week using just this strategy. Thank you to all who have contributed to the growth of the strategy here. I will continue to trade this exclusively until I get comfortable enough to add other strategies at the same time. At the moment, I am way to new to forex to add anything else. It is very nice to have confidence in one strategy and not to be a flipper anymore.

On that note, any recommendations for Monday? I usually avoid London open on Mondays as they seem rather weak (but I LOVE them the rest of the week!). However, this Monday is a US holiday so volume should be thin from 7 EST on. Any suggestions on this? Will London open be worth waking up for Monday or will it be flat because of US holiday as well?
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #717
  • Sep 4, 2010 1:13am Sep 4, 2010 1:13am
Quoting pgpb
I am not trading today because of it being Friday and NFP
I thought I would post an indicator and template that I find interesting

The MTF Shaff Trend indicator can be helpful for confirming trend and entries and exits

I have a 30 minute Shaff indicator on top of a 15 minute one

anyways......looks interesting to me.

I will be having a closer look at this over the weekend.

PGPB


PS. The Blue line is the ALF indicator


Hi, how does this Shaff indicator work?

Btw, what is the RED/YELLOW dotted line please?
  • #718
  • Sep 4, 2010 1:16am Sep 4, 2010 1:16am
Hi,

Thank you for all the support and improvements done in this thread. What started out like a simple idea, has now turned into a real winner. Sorry, got a lot of work that take most of my online/trading time away lately.

I thank NiceGuy, EllisEdi, pgpb, Indrek, losingtrades, Fokusnik, chrisyeap, among others (cant mention all , but you know who you are), and hope to summarize things in Post #1 again. I plan like to update Post #1, for newcomers (as well as for me), to further simplify things, and be consistent WINNERS!


@pgpb, Indrek, does it mean we dont need the MTF indicator if we use this SuperTrend indicator?
SuperTrend nrp mtf.mq4 (nrp means Non-RePainting?)
http://www.forexfactory.com/showpost...&postcount=692


@EllisEdi, how does 4BARS-MTF-NLMA 2.mq4 differ from the first version please?
http://www.forexfactory.com/showpost...&postcount=691


@NiceGuy, if not too much to ask again, can you please list down what indicators are you using.


Btw, nice thoughts here, NiceGuy, and I quote:
Quoting NiceGuy
The key to success in this strategy is.. (as I said it oftenly) to use...

I love trading GBPJPY usually, but because of spread, it seems this method works best on the majors - EU, GU, UJ, and UC.


Some questions, if I may, I am a bit lost with the nice improvements here, plus the fact I was out of the loop for a few weeks ...

How does the Coral, ALF, and the NLMA goes in hand in hand now? I mean if we have all these lines at the charts, it might give us the "analysis paralysis" syndrome? hehehe

The arrows is based on the NLMA-mtf right?


  • #719
  • Sep 4, 2010 7:10am Sep 4, 2010 7:10am
Quoting iamnoel
Hi, how does this Shaff indicator work?

Btw, what is the RED/YELLOW dotted line please?
Hi iamnoel

The RED/YELLOW dotted line is simply the Coral indicator

The Schaff indicator is to refine entries and exits.
I have not tested it in live trading, but I was rather impressed by it when I was reading about it in this thread

MTF Schaff Trend w/ Alerts

It may be "overkill" as the arrow (from the NLMA MTF indi) does give really good entries.....I am considering it for exits......the guy who runs the thread on this indicator says that you would stay in the trade until the indicator starts coming up from the 10 (or 25 level)

...anyways....as I say....until I can test it in live trading I am not sure whether or not I will keep it.

PGPB
  • #720
  • Sep 4, 2010 7:41am Sep 4, 2010 7:41am
Quoting iamnoel


@pgpb, Indrek, does it mean we dont need the MTF indicator if we use this SuperTrend indicator?
SuperTrend nrp mtf.mq4 (nrp means Non-RePainting?)
http://www.forexfactory.com/showpost...&postcount=692



For me the NLMA MTF indicator is still totally mandatory, in back testing I noticed that the combination of 240 - 15 Supertrend nrp indicators kept me out of some bad trades, but it also kept me out of some good trades also, so I am mostly abandoning it. (the higher time frame info is there on the NLMA MTF indi)

I tend to add indicators, but then discard them in preference for simplicity.
The idea of adding in higher time frame SuperTrend confirmation came from this thread Multiple Trading systems gbpusd only

Forme the best set up is NLMA MTF indicator with Coral, nothing else.
Adding in other indicators can help at time show me visually, but the long term trend is there in the NLMA MTF indicator.

The one missing peice that an indicator can never provide is chart time.
NG has discussed this in many of his posts, why he took certain trades and avoided others.....this is chart time/experience.....learning to read price action. I know in my evolution as a trader I have sometimes tried to fill this missing gap with indicators......it never works.....price action/chart reading is a skill that takes a bit of time.....but it is not brain surgery.....it can be learned.

PGPB
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