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Monster Muncher Manual Trading Discussion: Compliments SH

  • #201
  • Sep 22, 2010 1:44am Sep 22, 2010 1:44am
Hey Ian, the way I have the system set up is pretty simple.

Basically when Supertrend is blue you want to buy below the 21 EMA.
When Supertrend is red you want to sell above the 21 EMA.

I'll post a chart with GU showing some possible entries for this week.

When a pair is consolidating on the hourly level, if you get stopped out on a move-it might be better to switch to the lower time frame like 5 min and scalp.

When pairs are trending nicely, use the H1.

I'm pretty sure I understand your set up, though I don't understand all the different indies that you are using, but I get the basic process.

Looks good I just prefer to make my entry zone on pullbacks, rather than waiting to clear a level and buy from higher, or sell from lower.

Keep up the good work!
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  • #202
  • Sep 22, 2010 7:42am Sep 22, 2010 7:42am
hi steve

thanks for usdjpy template...you are quicker with hundred lines than im with some few...smile...and thanks again for explanation and creative thoughts int this thread.

regards lodol
  • #203
  • Sep 22, 2010 4:00pm Sep 22, 2010 4:00pm
GC is in a potenitally profitable accumulation zone.

I'm not saying to buy it, I'm saying to keep on eye on it tonight.

If the lower TF's start to turn blue and I see its getting bought up at this level, I might try to get in on first pullback.
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  • #204
  • Sep 22, 2010 5:51pm Sep 22, 2010 5:51pm
Quoting stevefx
Hey Ian, the way I have the system set up is pretty simple.

Basically when Supertrend is blue you want to buy below the 21 EMA.
When Supertrend is red you want to sell above the 21 EMA.

I'll post a chart with GU showing some possible entries for this week.

When a pair is consolidating on the hourly level, if you get stopped out on a move-it might be better to switch to the lower time frame like 5 min and scalp.

When pairs are trending nicely, use the H1.

I'm pretty sure I understand your set up, though I don't understand all the different...
Hi Steve,

Thanks for posting your latest setup , it looks very good , can you tell me how you use the fractal channels with this method ?
  • #205
  • Sep 22, 2010 6:12pm Sep 22, 2010 6:12pm
Quoting ianp
Hi Steve,

Thanks for posting your latest setup , it looks very good , can you tell me how you use the fractal channels with this method ?
Hi Ian,

Yes. The fractal channel break is like an alert which works with the Supertrend indicator.

Depending on where Supertrend has placed its Support or Resistance line, the fractal channel might break before Supertrend changes color, or Supertrend might change color first, then you'll get the fractal break.

Those two events happening in close succession, fractal break and Supertend S/R break/color change, is your alert to that the trend is changing.

At that point you want to wait for a pullback to or behind the 21 EMA.

Once the new trend is underway, then you are just trying to get in on further pullbacks to or behind the 21 EMA.

Your sell/ buy zone is at the 21 EMA, or between the 21 EMA and the Supertrend S/R line. Sometimes it will advance past the 21 EMA, sometimes it will just barely touch it, etc.

And also, Supertrend isn't perfect. Unless the bar closes past its line, it won't change color permanently. It can change color, then change color back it price just spikes its S/R line. So this can lead to shakeout.

These issues like, where exactly to enter around the 21 EMA, and dealing with shakeout, this is the stuff that requires practice to master.

I try to use good Money Management-with less at risk, less stress, higher chance of success.

Good luck to you!
  • #206
  • Sep 23, 2010 5:42am Sep 23, 2010 5:42am
Quoting stevefx
GC is in a potenitally profitable accumulation zone.

I'm not saying to buy it, I'm saying to keep on eye on it tonight.

If the lower TF's start to turn blue and I see its getting bought up at this level, I might try to get in on first pullback.

Hey Steve,

I like what you're doing man. This latest strategy of yours works even on M5 time frame. By the way what do you use for exits and stops?
  • #207
  • Edited 4:56pm Sep 23, 2010 4:38pm | Edited 4:56pm
Quoting maxwell-eqtn
Hey Steve,

I like what you're doing man. This latest strategy of yours works even on M5 time frame. By the way what do you use for exits and stops?
Hi Max, sorry didn't have a chance to reply til now.

You have to judge every trade by its own merits and positioning within the range.

Most of the time if Supertrend changes color against you, you are going to want to use that as your stop. But like I said Supertrend isn't perfect. Sometimes price can advance past the Supertrend line by just 5 points and close under it then reverse. So the move works out even though you get a color change. Thats the exception though.

If your in at a good place, say a long position, and you keep getting high fractal breaks, and Supertrend stays blue, then keep riding it.

A lot of that SL TP is just subjective and personal, there's no really absolute way to answer it. But using the Supertrend S/R line as a stop is usually a pretty good bet.

Its just a lot of times you can get out of a bad postion at break-even if you hang in there a little bit. Its needs practice to determine for yourself.

One thing I can add to this though, is to start looking at fractal lines, and previous fractal lines as additional levels of support and resistance. A lot of time if there is a pullback, and it exceeds the 21 EMA, it is headed to retouch its high or low fractal, or within a few points of that area. Again, thats not an absolute, but this can be helpful in many situations.
  • #208
  • Sep 26, 2010 1:41am Sep 26, 2010 1:41am
Hi Steve

I have been working a lot on being creative with trendstar, especially on the M15 time frame. There seems to be a great deal of success so far on GBPCHF M15 together with an H4 bar/candle trend starting.

It may take 2 or 3 posts today or over the next 1-2 days to complete posting all the information. so I will state when all is uploaded & complete for a correct understanding.

The stratman zip needs to be extracted with winRAR.
then the stratman font needs to go:
1st start menu / my computer / C: / windows / fonts

the little mini chart on the templates is statman mini chart showing the bars on H4 or H1 for example from the M15 chart.

the MA ribbon filled is set to 150ema & 200sma + a 21ema & 35sma.

the williamspr alert v2. williams % R is set to 30 on all time frames from M15 up.

the daily open line I have set to a dashed purple line on the template.

HLC bars show only the High Low & Close of the bar.

pivot points multi timeframe has already been posted but to keep as many indicators together as possible on this post here it is again with one or two small line style changes in the indi.

The other indicators necessary are already posted which need to be in the indicators folder of MT4.

they are :

williams % R candles
labtrend
grid builder
fractal channel(2)

I think that is all the indicators on the template.

There is one more not on the template as yet which is a MA cross email alert.
Attached File(s)
File Type: ex4 Stratman_MiniChart_v12.ex4   37 KB | 448 downloads
File Type: zip Stratman.zip   < 1 KB | 347 downloads
File Type: mq4 MA ribbon filled.mq4   2 KB | 366 downloads
File Type: mq4 williamspr_alert_v2.mq4   3 KB | 414 downloads
File Type: ex4 daily_open_line.ex4   2 KB | 338 downloads
File Type: mq4 HLC BARS.mq4   3 KB | 367 downloads
File Type: mq4 Pivot Points Multitimeframe.mq4   46 KB | 353 downloads
  • #209
  • Sep 26, 2010 2:23am Sep 26, 2010 2:23am
Here are some templates and the MA cross email alert.

I compared the channel that Labtrend creates to the fractal channel & they are similar. Without the channels the Labtrend itself changes colors for showing trend. The Labtrend is based basically on williams % R and was made for MT4 to do the same function of ASC trend/ able trend created by John Wang who was a former student of Larry Williams. If you are interested more about this indi there is a Russian document attached that can be translated piece by piece on bablefish from the Labtrend coder.

I think combined at the start of the week especially on M15/M30 with the breakout EA ATR weekly lines this trendstar mod will bring in many pips as well as throughout the week when traded with the H4 trend.

I have posted 2 charts. one has the fractal channel & one has the Labtrend channel. the charts are big please left click on them for the correct size.

....................................................................


From this link below pages 590 & 591 of this thread is very helpful & necessary to see what I have been working on the last few days especially in regard to the MA ribbon & many charts showing its effectiveness. Member MarcVum posts are important as well as my ones. MarcVum is a very gifted experienced trader as well as member Saxon who started this thread.

http://www.forexfactory.com/showthre...30625&page=590

this thread is my favourite on forex factory and I post here if not on this thread.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: 26 sept labtrend channel.jpg Size: 137 KB
Attached File(s)
File Type: tpl trendstar mod sept 26.tpl   121 KB | 310 downloads
File Type: tpl trendstar mod sept 26 labtrend channel.tpl   119 KB | 300 downloads
File Type: tpl trendstar mod sept 26 no channel.tpl   119 KB | 325 downloads
File Type: mq4 MA_Crossover_Email_Alert1.mq4   8 KB | 335 downloads
File Type: doc ASCtrend.doc   94 KB | 1,166 downloads
  • #210
  • Sep 26, 2010 7:11am Sep 26, 2010 7:11am
Hi Steve

By the way those two charts on USDCAD H4 & GBPCHF H1 were execellent.

I entered USDCAd at the weekly S1 for a nice ride up.

GBPCHF made a nice move on Friday too.

As a result of my successful GBPCHF trade at the start of the week & the USDCAD trade I had my 1st positive week of live trading with 150 pips gained.

Awesome.

......................................................................

Trendstar mod

My favourite teacher for price patterns in the market is Larry Williams.

I have posted three photos of what Larry calls a "Smash Down Day".

This is the price pattern & 1 variation of it that I will be looking for before entering a trade with the trendstar mod templates posted.

I will give rules & explain about smash down/smash up days/bars 1st of all.

rules: Smash down day.

1. The market starts to rally, then we are looking for a day with :

2. A close lower than the previous days low.

3. If the very next day the new bar reverses and takes out the previous days high then buy.



rules : Smash up day.

1. The market starts to rally, then we are looking for a day with :

2. A close higher than the previous days high.

3. If the very next day the new bar reverses and takes out the previous days low then sell.




my variation of these rules is regarding point 3 :

If the very next days new bar does not close on a new high or new low then disregard it & go on to the next bar to see if it meets rule 3.



chart examples & explaination to follow on next post.
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  • #211
  • Sep 26, 2010 8:27am Sep 26, 2010 8:27am
MISTAKE on point 1

rules : Smash up day.

1. The market starts to rally, then we are looking for a day with :

2. A close higher than the previous days high.

3. If the very next day the new bar reverses and takes out the previous days low then sell.

..................................................

CORRECTED

rules : Smash up day.

1. The market starts to decline, then we are looking for a day with :

2. A close higher than the previous days high.

3. If the very next day the new bar reverses and takes out the previous days low then sell.
  • #212
  • Sep 26, 2010 1:58pm Sep 26, 2010 1:58pm
rules: Smash down day.

1. The market starts to rally, then we are looking for a day with :

2. A close lower than the previous days low.

3. If the very next day the new bar reverses and takes out the previous days high then buy.
Attached Image (click to enlarge)
Click to Enlarge Name: smash down day.gif Size: 20 KB
  • #213
  • Sep 26, 2010 2:35pm Sep 26, 2010 2:35pm
rules: Smash down day.

1. The market starts to rally, then we are looking for a day with :

2. A close lower than the previous days low.

3. If the very next day the new bar reverses and takes out the previous days high then buy.


my variation of these rules is regarding point 3 :

If the very next days new bar does not close on a new high or new low then disregard it & go on to the next bar to see if it meets rule 3.



In this example my variation to rule three applies.

a rally started . then we have a close lower than the previous days/bars low.
then the next new bar does not close on a new high or new low so disregard it.
going on to the next bar
yes the next bar meets rule 3 so we have a buy at 154.30
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  • #214
  • Sep 27, 2010 2:53pm Sep 27, 2010 2:53pm
Thanks for all that stuff Ian-its gonna take me a while to go through it.

I'm trying to focus this week more on trading and less on developing.

Made 50 pips last night on EJ long off trendstar recommendation.

Right now I'm very cautious with taking further trendstar trades on EJ and GU. Looking at historical charts, both of these are in pretty powerful stopping places. Monster Muncher says they go down, trendstar says to buy.

The thing about trendstar is you will always get one wrong trade as it transitions from blue to red or red to blue. But you may get an average of 4 winners before that wrong trade comes.

Anyway, as per GU trade-check historical charts. Stopped under upper blue level with 30.9 ultimate fib confluence, and just generally overextended and looking toppish. Monster Muncher agrees, down.

EJ stopped under green line on hisorical charts, 114.34. This level has turned bull around 3 or 4 times in the last couple of years. MM likes down too on this one.

Keeping my profit targets modest 50 to 70 pips. -Good luck this week
  • #215
  • Edited 8:23pm Sep 27, 2010 4:57pm | Edited 8:23pm
Here are some results of historical analysis since Jan 5, 2010, for the trendstar system on the EJpy H1.

What I am looking at here is after Supertrend changes color, from Red to Blue or Blue to Red, how many trips to the 21 EMA and into profit it made before failing.

Where you see the series of numbers, it means it failed on that number of trips. Where you see a 5, it means it failed on its 5th pullback to the 21 EMA.

Overall the Bulls have better results than Bears. This is due to the way Bulls and Bears move. Bears tend to move faster and retrace less than Bulls. So they show more failures.

Both Bulls and Bears show very good numbers for first pullback trades. If you only traded first pullback for both Bulls and Bears, its 88% winners.

If you only traded first pullback for Bulls, its 93% winners.

But always taking first pullback trades for either bulls or bears makes a lot of sense from a statistical point of view.

---------------------------------------------

See corrected stats below
  • #216
  • Sep 27, 2010 5:27pm Sep 27, 2010 5:27pm
Hi Steve

thankyou for posting those percentages & information.

I am working on a M15 set up specifically. See how it goes.

The Smash down/up days/bars as an entry requirement that really interesting.

The most effective tested idea so far is the time when 150ema & 200sma cross with 21ema & 35sma crossing at the same time or very soon afterwards.

There was a potential 500 pips last week with the MA crossings like this on GBPCHF M15.

This idea comes from member MarcVUM who has kindly shared his full MA setup that He effectively utilizes as a professional full time trader. These 4 MA are just part of it.

post #8575 , post #8576

http://www.forexfactory.com/showthre...30625&page=572






Yes it is important to focus on trading now.

I like creating as a hobby.

happy pipping this week. Im bullish GBPCAD by the way.
  • #217
  • Sep 27, 2010 7:47pm Sep 27, 2010 7:47pm
The MA have crossed on H4 on GBPCAD.

This is the best template I have created so far.

I have created it for M15 at present, but it has potential on H1 + H4.

Keep up the great work Steve.

Excellent high percentage of trades for first pull back on H1 EURJPY 93.8%.

By the way Steve do you trade live with Interbank FX ?

I am thinking of changing to them for my micro account.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: best template for mod.jpg Size: 166 KB
Click to Enlarge Name: gbpcad m15.jpg Size: 141 KB
Click to Enlarge Name: gbpcad h1.jpg Size: 153 KB
Attached File(s)
File Type: tpl trendstar m15 mod in progress.tpl   446 KB | 334 downloads
  • #218
  • Sep 27, 2010 8:17pm Sep 27, 2010 8:17pm
Hi Ian, yes I do trade with IBFX.

They treat me fine-very good customer service. The platform works as it should just about all the time.

I screwed up the percentages on the stats, with overall totals. They are better than I figured at first, since I was only considering losers versus winners instead of losers versus total trades. Corrected stats below.

Good looking setup by the way. I like the ribbons. It seems like a lot of times the area of the upper ribbon finds the pullback zone spot on...
Attached Image
  • #219
  • Sep 27, 2010 8:59pm Sep 27, 2010 8:59pm
Quoting stevefx
Hi Ian, yes I do trade with IBFX.

They treat me fine-very good customer service. The platform works as it should just about all the time.

I screwed up the percentages on the stats, with overall totals. They are better than I figured at first, since I was only considering losers versus winners instead of losers versus total trades. Corrected stats below.

Good looking setup by the way. I like the ribbons. It seems like a lot of times the area of the upper ribbon finds the pullback zone spot on...
Hi Steve,

Thanks for posting your test results.

I was wondering what you define as a winning trade did you look at 1:1 RR and use a stop under the last low/high ? or did you use a fixed stop.?
  • #220
  • Sep 27, 2010 9:18pm Sep 27, 2010 9:18pm
Quoting ianp
Hi Steve,

Thanks for posting your test results.

I was wondering what you define as a winning trade did you look at 1:1 RR and use a stop under the last low/high ? or did you use a fixed stop.?
Hi Ian,

I used Supertrend S/R line as a stop. I counted it a failure when there was a close under/over the Supertrend line. I made sure every trade had at least 25 to 30 points potential profit. Most had more, some had a great deal more...

Cheers
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