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PM Forex Strategy

  • #781
  • Sep 17, 2010 7:57am Sep 17, 2010 7:57am
Quoting pgpb
Interesting....I will take another look, I was just looking historically.

I was not sure if you are using MTF Trix meter 15 minute and also 60 minute....or are you just using the 15 minute as a confirmation/filter?

When I load your template I see just just the 15 minute, but in the list of indicators I am seeing the 60 minute

PGPB
pgpb, so far I trade M-15, I created the indicator for H-1 just in case I want to try H-1. Probably I'll try the H-1 next week.

I trade M-15: when I get the MTF-NLMA signal on M-15 I take a look at the Trix Meter on M-15, if they are the same color - I enter at the next M-15 candle. So far it worked just fine. Maybe I'm just lucky, maybe it is because I trade only GBPUSD and GBPJPY, maybe it was just a good week, maybe it is because I trade only active hours (starting 1-2 hours before London Open), but so far so good!
  • #782
  • Sep 17, 2010 8:01am Sep 17, 2010 8:01am
Quoting iamnoel
we enter right at the next candle when the arrow appeared?


Yes, that's right!
  • #783
  • Edited 8:13am Sep 17, 2010 8:02am | Edited 8:13am
Now, as I promised earlier, I will share to you guys a secret...

This pattern repeat itself over and over again. This is where I scored more than 50 pips in a day. Just did yesterday with EJ and scored me 60 pips.

This why exactly the reason why I only trade TOKYO lately, it's simply because the strong movement usually start on NY lately and at beginning of tokyo they start to range. So I take the trade whenever I see a signal that breaks the range and score my pips there.

I will move my trade to follow this pattern and waited for the range periods to happen and score my pips with candle that break it to the opposite direction at the end of ranging times.

God... It's hard for me to explain this.... Hope this picture will make you clearer...

Attached Image (click to enlarge)
Click to Enlarge Name: PM_31.jpg Size: 143 KB



There will be variation to this pattern but if you get the idea the rest will be much clearer.

This pattern is repeating itsel over and over again. This is my trade filter. I scored about 80% succesful trade and get away with more than 50 Pips because of this. Pay attention when this kind of setup is being drawn on your chart.

Those big boys are human. And Human mind tends to do the same thing and keep repeating it over and over again. If you happen not to have multi Trillion Dollars to trade and set the trend for yourself then all we have to do is follow them....


NG
Hope this one can make you better trader.
  • #784
  • Sep 17, 2010 8:19am Sep 17, 2010 8:19am
Quoting pgpb
Fokusnik

Can you give us a quick understanding of the 3 level zz semafor alert that is in your template?

thanks!

PGPB
Sure!

The semafor is a ZigZag-based indicator, so it repaints. But if you use it correctly, it can be very useful.

1). Never use it for the entry.
2). Use it for the exit only.
3). Use it together with Heiken-Ashi.

I changed my semafor settings:

Period1 0.0
Period2 0.0
Period3 18.0

This way the semafor doesn't show the local hi's and low's, it shows only the extreme hi's and low's.

It repaints, but I like it because it gives me the first signal:

Let's say I entered long on M-15 using PM and Trix. Let's say the currency went up. I wait until the very first semafor signal. When I get this signal, I take a look at the H-1. If there is no semafor signal on the H-1 at this moment, that usually means that the M-15 trend is close to the end, so I'd better take my profit. So I go back to M-15, wait until the candle's end and exit.

But if the H-1 also has the semafor signal - that usually means that the trend is pretty good. The semafor on H-1 usually repaints 2-3 times, sometimes 5-6-10 times. So I decide to stay on the H-1 and watch. This time I watch not the semafor, but the Heiken-Ashi. When I see that Heiken-Ashi becomes much smaller - I exit.
  • #785
  • Sep 17, 2010 10:35am Sep 17, 2010 10:35am
hi just wanted to ask if there is any setting problem, because i got a buy alert today for GU on the 15 min today during tokyo session but when i looked at the chart the arrow was on third candle before current candle that just closed. i posted the picture in the earlier post 774,alert came after the long bulish candle but arrow was on the doji 3 candles before which is a perfect entry i would say.

is there anything causing this lag or is this normal? thanks cause i realised it happens quite often for me.
  • #786
  • Sep 17, 2010 12:04pm Sep 17, 2010 12:04pm
Niceguy, your post #783 will be my road map. I hope you'll share your entries during Tokyo time over the next week or so while we get a handle on what's happening.

Thanks for everything, and especially for your upbeat attitude! It keeps us going. The same goes for Fokusnik.
  • #787
  • Sep 17, 2010 12:13pm Sep 17, 2010 12:13pm
Quoting mary4x
The same goes for Fokusnik.
mary4x, thank you! I'm always glad to help!
  • #788
  • Sep 17, 2010 6:25pm Sep 17, 2010 6:25pm
Nice Guy, could you please share your indicator for the market open times? I've been following this thread for awhile and I sincerely appreciate all the valuable info and insight from several members. Thank you, Mel
  • #789
  • Sep 17, 2010 7:45pm Sep 17, 2010 7:45pm
Quoting daemonw
hi just wanted to ask if there is any setting problem, because i got a buy alert today for GU on the 15 min today during tokyo session but when i looked at the chart the arrow was on third candle before current candle that just closed. i posted the picture in the earlier post 774,alert came after the long bulish candle but arrow was on the doji 3 candles before which is a perfect entry i would say.

is there anything causing this lag or is this normal? thanks cause i realised it happens quite often for me.
Dont use NLMA V2, use V1.03. And always reload the indi everytime you opened MT4. I got the same problem when I use v.2. The V 1.03 is a bit heavy for the PC but more reliable.

Hope this will clear your problem.


NG
  • #790
  • Sep 17, 2010 10:58pm Sep 17, 2010 10:58pm
hmm i am using v1.03 maybe is the reloading of the indicator. reloading i mean taking it out from the chart and adding it back in again? or simply refreshing it?

thanks for your time nice guy, sorry for so many questions cause this is the first time i found something that really work for me geting excited
  • #791
  • Edited 1:18am Sep 18, 2010 12:55am | Edited 1:18am
Quoting Mel
Nice Guy, could you please share your indicator for the market open times? I've been following this thread for awhile and I sincerely appreciate all the valuable info and insight from several members. Thank you, Mel
Here you go...
Attached File(s)
File Type: mq4 Dolly_Trading Times _3.mq4   8 KB | 449 downloads


Quoting daemonw
hmm i am using v1.03 maybe is the reloading of the indicator. reloading i mean taking it out from the chart and adding it back in again? or simply refreshing it?

thanks for your time nice guy, sorry for so many questions cause this is the first time i found something that really work for me geting excited
Simply double click on it at your indicator list will do the trick...

Btw.. If you guys decided to use coral as I suggested, the coral will also give you an early warning if the market is going into a ranging times like the picture below:

USD JPY M15, Yesterday after London, market range in 10-15 pips movement...
Attached Image (click to enlarge)
Click to Enlarge Name: PM_32.jpg Size: 40 KB


It's best to stay away from the market if you see this on your chart because rarely you will score many pips in this situation and oftenly your SL get hit too soon. This situation is usually happen at the end of trending periods. Look at how many arrow in the chart and how the Coral going flat accroes PA. This shows that Big Boys is having a fight with each other. Some of them already in to sell but some other still insist to buy. New trends will be form when one side is finally giving up or the other side push the market with puttin in bigger volume of money.

Be patience, enjoy the fight and dont revenge the market too soon when your SL got hit on the first trade. Sometimes it's best to wait for another day or at least another market open when new boys join the fight and choose their side ...


NG
  • #792
  • Sep 18, 2010 7:34am Sep 18, 2010 7:34am
Hi just would like to contribute to this, repaint or not that is the problem that we will not be able to fix, but the only thing we can do is find some more evidence i will say to confirm the trade, i use thv 5 min to confirm the trade, so if i see that the trix is crossing up (green) and a short for 15min calls for a short i will not enter the trade.

like what they say when confluence happens it is like having a double A's in texas and i will kill myself if i have a pair ace in my hand and i dont bet, but again there might be a 3 of a kind or flush to wipe u out. same goes for this strategy. if you are discipline enough, with a 15 pips sl and 40tp. two trades a day before the london market should give good profits in the long term.

at the end of the day when Ace pairs comes out go for it.

good luck everyone!
  • #793
  • Edited 11:28am Sep 18, 2010 11:02am | Edited 11:28am
Nice Guy,

Have you looked at Go Markets in Australia? They have very good spreads. Good place to do business.
  • #794
  • Sep 18, 2010 12:37pm Sep 18, 2010 12:37pm
daemon, I have noticed the same thing about v1.03 suddenly putting an arrow 3 or 4 candles back. It is why I left this strategy at first. I came back to it though because the information the PM is giving is good information. Sometimes, you have to read the PA versus the coral, pivots, and s/r lines. I have been in these spots and thought, "why am I not seeing an arrow right now?". Guess what happens 2 candles later....the arrow shows up! Read the PA, that is what you are trading. As some are fond of saying, chart time is huge. If the trix was right on that chat you posted before, I would have gone to the m5 or m1 to verify direction, then taken the trade if PA was acting logically.
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #795
  • Sep 18, 2010 1:23pm Sep 18, 2010 1:23pm
Thank you, Nice Guy, for the Dolly Trading Times indicator. I like the uncluttered look--very appreciated. Mel
  • #796
  • Edited 8:29pm Sep 18, 2010 6:17pm | Edited 8:29pm
Quoting sanyhuis
Nice Guy,

Have you looked at Go Markets in Australia? They have very good spreads. Good place to do business.
Yes I have. I am interested to open an account with Go Markets. But they rejecting people from my country, and some other country in my continent to do business with them. That's just too bad.

Guys... It's the PA that drive the indicator not the other way around, so the Indicator is only act as a confirmation for your action. Like it or not we still need to read PA to see what's really going on. Honestly, I am also kind of expecting to have some kind of indicator to yell at me... SELL... BUY...SELL...BUY and it's right more than 75% of times without even see the chart... But I haven't find one yet. Even if we have one, I bet we will also looking for a second indicator to confirm the first indicator, and suddenly we add another third indi to confirm both of them...so on and on... Come on guys... Even George Soros has his losers too... a Million Dollars one.... You should have an Ace not only in your mechanical system but also in your Money Mangament and your RR ratio.

It's the Logic behind the PM strategy that gives me a confidence to trade this strategy. In many situation PM System allowing you to Sell or Buy at the very beggining of a long trending periods. I bet many of you who already trade this strategy oftenly had a "Shit! I should have ride that one longer....!" sentence in your head. Me too....

So keep risking low, and aim high guys... Or at least do what daemonw do.. 15 SL and 40 TP. He already scored 600 pips so far by doing the same thing everyday... Trade small and longer... let your account grow...

As for me... I will try something different next week. I will enter as many trade as I can during a day. But I will stop trading for that day whenever I have 1 loser on me. I will try to discipline myself to always aim for 45 TP with the 15 SL as usual. I will keep on going as long as I dont have loser on my side. I might have 2 or 3 or hopefully more winners but I will always only have 1 loser in a day as usual. Start on tokyo tomorrow.

Because there is always a day that I keep on winning with everthing I entered into the chart. I have some of that days in near past experience. I bet you guys too. This way I think I can accomodate that Angel of Fortune whenever he deicide to visit me.

NG
  • #797
  • Sep 18, 2010 8:34pm Sep 18, 2010 8:34pm
Quoting capstone
daemon, I have noticed the same thing about v1.03 suddenly putting an arrow 3 or 4 candles back. It is why I left this strategy at first. I came back to it though because the information the PM is giving is good information. Sometimes, you have to read the PA versus the coral, pivots, and s/r lines. I have been in these spots and thought, "why am I not seeing an arrow right now?". Guess what happens 2 candles later....the arrow shows up! Read the PA, that is what you are trading. As some are fond of saying, chart time is huge. If the trix was...
Guys, I understand that the repainting could be very frustrating.

But this MTF's repainting is NATURAL! We can't do anything about that.

If you don't want to see these appearing and disappearing (and misleading) arrows - don't use MTF, use NonLagMA itself!

It is much easier than you think and I will probably switch to the NonLagMA next week.

I see it this way:

We put the NonLagMA (21) on M-15, M-30, H-1 and H-4. It has 2 colors, red for short and white for long.

We watch M-15 and check it every 15 minutes.

When the NonLagMA starts changing color (let's say, from red to white), we have to wait until this M-15's candle is closed. So, the candle is closed and the NonLagMA is white now.

Then we go to the M-30. If the NonLagMa is red - we do nothing. If it just started changing from red to white, but the M-30 candle isn't closed, we wait. When it is closed and it is white - that means, that two timeframes aligned. And, of course, if we go to M-30 and we see that the current NonLagMA is white and the previous candle' NonLagMA's also white - that means the same: two timeframes aligned.

Then we check the same way H-1. If three timeframes aligned this way - it is a good signal and we should enter. We can take a look at H-4 too, but if it is not aligned - I would enter anyway (of course, you have to make sure that M-15 and M-30 are still white). And, of course, if we're lucky and all 4 timeframes aligned - it is an excellent signal, we can enter with bigger than usual lot.

Some of us think that M-30 doesn't matter. I don't think so, but if you do - check only M-15, H-1 and H-4, the only difference: at this case two timeframes aligned is a good signal and three timeframes aligned is an excellent signal.

Of course, after all this checking I will check the M-15's Trix Meter too - for me it is the ultimate filter.

I understand that it sounds like a lot of work. But:
1). It is not that hard to take a look at 2-3 charts every 15 minutes
2). Even if it is a lot of work - it is not as bad and frustrating as seeing the disappearing arrows
3). If we want to make money - we have to work, just that simple!
  • #798
  • Sep 18, 2010 9:55pm Sep 18, 2010 9:55pm
Quoting Fokusnik
Guys, I understand that the repainting could be very frustrating.

But this MTF's repainting is NATURAL! We can't do anything about that.

If you don't want to see these appearing and disappearing (and misleading) arrows - don't use MTF, use NonLagMA itself!

It is much easier than you think and I will probably switch to the NonLagMA next week.

I see it this way:

We put the NonLagMA (21) on M-15, M-30, H-1 and H-4. It has 2 colors, red for short and white for long.

We watch M-15 and check it every 15 minutes.

When the NonLagMA starts...
Yes, I Agree fokusnik... It's nice that you put it that way. Well this whole thing is a work... a job to do. We have to do the effort to achieve something.

Btw... How do you set TF inside your trix meter? Let's say if we want trade M15? Does it need to be set also in M15? I got mine with 5 TF as default....

Thanks

NG
  • #799
  • Sep 19, 2010 5:15am Sep 19, 2010 5:15am
Thats why i still prefer asian time, due to the gentle price movement i dont see much repaint haha infact the signal that was repainted for the long was early and that gave me an early entry before the confirmed long signal came out haha maybe just lucky
  • #800
  • Sep 19, 2010 8:36am Sep 19, 2010 8:36am
Quoting NiceGuy
How do you set TF inside your trix meter? Let's say if we want trade M15? Does it need to be set also in M15? I got mine with 5 TF as default....
NiceGuy, you're right, having the right Trix Meter's settings is very important!

I'm not sure whether we can set one Trix Meter to work on different timeframes. So I created one Trix Meter for M-15 and another one for the H-1.

For M-15 I set "TimeFrame" to 15, then I went to "Visualization" and checked only M-15.

For the H-1 I set "TimeFrame" to 60, then I went to "Visualization" and checked only H-1.

If I need M-30, I'll create another Trix Meter with TimeFrame 30 and Visualization M-30.
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