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Old Dog Fib Trading - EURUSD

  • #121
  • Edited 8:43pm Oct 4, 2010 2:31pm | Edited 8:43pm
So we've made some good progress in the past few days....

Just had a chat with Old Dog..here is what we propose for the thread.

1. There are a few things we want to explore with the indicator that Squalou has so graciously been working on, some tidbits on that are sprinkled throughout this thread.

2. When guru is ready, he'll release his indicator.

3. There is some discussion about EA....so perhaps we set up a sister thread for that discussion, with everything out in the open. Any volunteers to moderate that process?

4. We'd like to turn this thread into a "Post a chart - have a discussion" kind of thread of what is happening with EU and GU, like a trading plan of sorts, areas of interest to watch for and have discussions about upcoming trades and trades just completed.

5. Perhaps a skype trading room....a place to hang for those that need it. Those rooms can be a distraction from your trading, so I'm not sure about that. It often turns into a place to learn, rather than a place to trade.

Other suggestions are welcome.

Cheers
CanuckCT
  • #122
  • Oct 4, 2010 2:39pm Oct 4, 2010 2:39pm
The more the wheels churn...maybe it looks like this...

Old Dog Fib Trading - Indicator Development
Old Dog Fib Trading - Just Trades
Old Dog Fib Trading - EA

Cheers
CanuckCT
  • #123
  • Edited Oct 5, 2010 11:57am Oct 4, 2010 8:36pm | Edited Oct 5, 2010 11:57am
Here is setup for trade I just entered...and a review of today, as I saw it.

Cheers
CanuckCT

Attached Image (click to enlarge)
Click to Enlarge Name: 2010-10-04_2222.png Size: 152 KB


Trade Update: Entry was 1.3666, sitting at +1 now.
Trade Update: Closed at +1
Trade Update: Reentered on break of Old Dog zone, close for +10
Trade Update: missed the move up - sleeping
  • #124
  • Oct 5, 2010 1:44am Oct 5, 2010 1:44am
Hii
can there be made an option just to see levels like phase levels only?
i cudn't find any option for that .. then we can use it just as a phase pivot level..

just a thought
  • #125
  • Oct 5, 2010 3:35am Oct 5, 2010 3:35am
Quoting CanuckCT
Here is setup for trade I just entered...and a review of today, as I saw it.

Cheers
CanuckCT

Attachment

Trade Update: Entry was 1.3666, sitting at +1 now.
thanks.
The World As It Is Can Do With Your Positive Disposition
  • #126
  • Oct 5, 2010 5:17am Oct 5, 2010 5:17am
Is the pivot line at 1.3694 meant to be a buy point? I think I'm missing the point of the pivot line. Maybe I'm just supposed to look at the pivot point and the sentiment to see if the bias is to go long or short? Thanks for any help.

Spencer
  • #127
  • Oct 5, 2010 6:20am Oct 5, 2010 6:20am
Quoting graciejj1
Is the pivot line at 1.3694 meant to be a buy point? I think I'm missing the point of the pivot line. Maybe I'm just supposed to look at the pivot point and the sentiment to see if the bias is to go long or short? Thanks for any help.

Spencer
This is my current 'Old Dog' chart. I've tweaked the code to remove most of the lines other than Old Dog's Pivot and Sentiment levels and added another pivot indy for comparison and i'm still interested in the main phase levels, so kept those too.

Old Dog has already mentioned the key, ie supply/demand areas and price action around those zones, taking high probability/low risk trades between the two. Price is currently in an interesting area, at yesterday's supply zone...wonder how many of us are biased long at the moment. Ordinarily i'd be looking at the chart now thinking bull flag, longs all the way...now i'm not so sure Perhaps the demand zone down at the weekly pivot (3650ish) is where the stronger bulls are waiting and the better trading opp into the longer term trend exists...
Attached Image (click to enlarge)
Click to Enlarge Name: 5th Oct EU 1.PNG Size: 33 KB
  • #128
  • Edited 6:46am Oct 5, 2010 6:33am | Edited 6:46am
Hey ChowClown,

Care to post your revised indicator.

I have several on the go...still undecided which is best. I do very much agree that less is better. Part of the process here is to look at different alternatives for displaying information.

Cheers
Canuckct

Quoting ChowClown
This is my current 'Old Dog' chart. I've tweaked the code to remove most of the lines other than Old Dog's Pivot and Sentiment levels and added another pivot indy for comparison and i'm still interested in the main phase levels, so kept those too.

Old Dog has already mentioned the key, ie supply/demand areas and price action around those zones, taking high probability/low risk trades between the two. Price is currently in an interesting area, at yesterday's supply zone...wonder how many of us are biased long at the moment. Ordinarily i'd be looking...
  • #129
  • Oct 5, 2010 6:47am Oct 5, 2010 6:47am
Quoting CanuckCT
Hey ChowClown,

Care to post your revised indicator.

I have several on the go...still undecided which is best. I do very much agree that less is better.

Cheers
Canuckct
Sure, bits & bobs attached.
Attached File(s)
File Type: mq4 ChowsOldDogIndy.mq4   22 KB | 572 downloads
File Type: mq4 Supertrend1.mq4   4 KB | 450 downloads
File Type: mq4 AutoPivotIndicator_ver5.mq4   31 KB | 475 downloads
  • #130
  • Oct 5, 2010 7:40am Oct 5, 2010 7:40am
Old Dog breakout in progress....
  • #131
  • Oct 5, 2010 7:48am Oct 5, 2010 7:48am
Those currency moves are crazy it's a currency war going on out there.

Most trying to avoid their currency to go any higher against USD.

Especially Asia.

All I can say it's hard to trade during NY session, EUR was on the ropes

yesterday night, woke up today and watching it near 1.38 again and nothing

or almost nothing left to trade.. Need Robot, which going to take care of

those moves overnight. Making some pips (LONG) on AUDUSD and NZDUSD (broke out).
Viewer Discretion Advised: Shall we shag now or should we shag later? :-)
  • #132
  • Oct 5, 2010 7:50am Oct 5, 2010 7:50am
Quoting ChowClown
Old Dog has already mentioned the key, ie supply/demand areas and price action around those zones, taking high probability/low risk trades between the two. Price is currently in an interesting area, at yesterday's supply zone...wonder how many of us are biased long at the moment. Ordinarily i'd be looking at the chart now thinking bull flag, longs all the way...now i'm not so sure
...all the way back to March supply now.
  • #133
  • Oct 5, 2010 8:04am Oct 5, 2010 8:04am
I've applied a fib to the NY close, using 1/2 of the 44 day range as the swing. The 161.8 extension would suggest we've met out daily range to the upside. M15 now has inside bar....so that price action has me wary of upside move. A move below 1.3790 and I'll be looking to sell.

We did print a new high for the week....for what that's worth.

Here is my chart.

Cheers
CanuckCT

Attached Image (click to enlarge)
Click to Enlarge Name: 2010-10-05_1001.png Size: 31 KB
  • #134
  • Oct 5, 2010 8:10am Oct 5, 2010 8:10am
I notice the price label on the sentiment and pivot are the same. Looking at the code now to see how to fix that. Some of you clever folks can surely locate that quickly.
Cheers
CanuckCT
  • #135
  • Edited 8:30am Oct 5, 2010 8:11am | Edited 8:30am
I have something like this too (Skyzerachi lines ), waiting,

US DATA in 30 min..
Attached Image (click to enlarge)
Click to Enlarge Name: eur_beast.jpg Size: 96 KB
Viewer Discretion Advised: Shall we shag now or should we shag later? :-)
  • #136
  • Edited 9:09am Oct 5, 2010 8:51am | Edited 9:09am
G'day folks!

I'm another refugee from the other thread. Far too confusing over there, Yellow fib, blue fib white fib, breakout template, 74 fib, calculators (huh?) ... and it seems to have gotten a tad religious ....

"Follow the gourd!".... "No! Follow the sandal!" ... and watch what you say or you'll be invited to the stoning... as the main attraction! (for all you Life of Brian fans).

This looks a bit more on the sane side!

Thanks to CanuckCT for letting me in!

Anyway, I've attached a couple of tools to help with money management as I saw someone mentioning that subject earlier.

I've zipped it all in the correct folders, so if you unzip into your main metatrader folder, they should land in the right spots.

In the zip are:

Pointprice indicator, which simply gives you value per pip (and point if 5 digit) as account currency and % of balance, as well as the current spread.

Trade scripts for easy trade opening, with inbuilt money management. You can set the % risk when you first start the script (default is 2%).

This is calculated from the stop size and the cost per pip, and the lot size is adjusted accordingly, to meet the required risk.

Both draw lines which you drag to where you want them and it places the trades when you hit the "OK" button.

Open_position opens a trade at market after you set your stop loss (red line. (Buy/sell is automatic ... if stop is above price, it is a sell, if stop is below price, it is a buy).

Pending_position sets a pending order after you set the three lines (red=stop_loss, green=entry, blue=target).

Hope you find them useful!

Regards,
Bigtent.

PS. The scripts will not work without the money_management.mqh file in the include directory so make sure you put that there!
Attached File(s)
File Type: zip Money management.zip   4 KB | 394 downloads
  • #137
  • Oct 5, 2010 8:57am Oct 5, 2010 8:57am
Quoting CanuckCT
I notice the price label on the sentiment and pivot are the same. Looking at the code now to see how to fix that. Some of you clever folks can surely locate that quickly.
Cheers
CanuckCT

Classic copy/paste bloop...

Change this line ilke below:

Inserted Code
  DrawTrendLine(ObjPrefix+"OldDogSentiment "+TimeToStr(dtNY_close,TIME_DATE),"-",dtNY_close,sentiment,dt_Next_NY_Close,sentiment,STYLE_SOLID,2,OldDogSentiment_color);
  DrawLbl(ObjPrefix+"OldDogSentimentLbl "+TimeToStr(dtNY_close,TIME_DATE),"Sentiment="+DoubleToStr([color=Red][b]sentiment[/b][/color],Digits),dtNY_close,sentiment, 8,"Lucida",OldDogSentiment_color);


i'll post an updated indi with Chow's changes as input options true/false, and also added the new BaseLevel calc taken fro the Excel sheet...

Got to rush back into my meeting room for now...

Sq
  • #138
  • Oct 5, 2010 9:07am Oct 5, 2010 9:07am
got 5 more minutes break...

here is the new indi.


SQ
Attached File(s)
File Type: mq4 sqAbonacciOldDogLevels-indi-1.2.mq4   26 KB | 456 downloads
File Type: ex4 sqAbonacciOldDogLevels-indi-1.2.ex4   20 KB | 406 downloads
  • #139
  • Oct 5, 2010 9:07am Oct 5, 2010 9:07am
Quoting squalou
Classic copy/paste bloop...

Change this line ilke below:

[code]...
Thank you, SQ!

HINT:

Guys look right below (3rd/4rd row)

// draw Pivot and Sentiment lines

comments in code
Viewer Discretion Advised: Shall we shag now or should we shag later? :-)
  • #140
  • Oct 5, 2010 9:14am Oct 5, 2010 9:14am
Quoting SkyzerFX
Those currency moves are crazy it's a currency war going on out there.

Most trying to avoid their currency to go any higher against USD.

Especially Asia.

All I can say it's hard to trade during NY session, EUR was on the ropes

yesterday night, woke up today and watching it near 1.38 again and nothing

or almost nothing left to trade.. Need Robot, which going to take care of

those moves overnight. Making some pips (LONG) on AUDUSD and NZDUSD (broke out).
Caught some of the Euro trade (long) and some of the Aussie and cable.... but the price action is up and down like a honeymooner's bum!
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