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  • #301
  • Feb 1, 2011 11:37pm Feb 1, 2011 11:37pm
Wow i think you are already 40pips into profit.
Quoting the-game
Could you clarify by editing my USDCAD H4 chart with your thoughts?

BTW, I put in a Sell Stop order 3 pips below the last LL and this is on the 4 hour, so it's valid right?

* EDIT: I just had the same sort of setup on the USDCHF H4 chart - this time I got in 5 pips below the last LL.

** EDIT 2: I've followed your rules in post 1 to the letter... plus I'm with trading with the trend, using reasonable pip buffers above the last HH and below the last LL for entry/SL and accounting for spread for the TP....
  • #302
  • Feb 1, 2011 11:39pm Feb 1, 2011 11:39pm
Unless you can see the future then yes!

But seriously, I'm currently down 3 pips on the USDCHF short and up 6 pips on the USDCAD short
  • #303
  • Feb 1, 2011 11:49pm Feb 1, 2011 11:49pm
oops i am sorry i see the price wrongly. for my my guts only allows me to trade m15 and 1h trades
Quoting the-game
Unless you can see the future then yes!

But seriously, I'm currently down 3 pips on the USDCHF short and up 6 pips on the USDCAD short
  • #304
  • Feb 1, 2011 11:51pm Feb 1, 2011 11:51pm
I see... that would make sense!

The last HH and last LL on higher time frames usually come heaps later that the lower time frames.
  • #305
  • Feb 2, 2011 12:26am Feb 2, 2011 12:26am
wait do you mean there mjust be HH or LL on higher time frame and a good angle of seperation then the lower time frame entry is valid?
  • #306
  • Edited 4:25am Feb 2, 2011 4:13am | Edited 4:25am
Hi,
I am working my way throughthe thread slowly.
I did say I had written many EA's (EA = Expert Advisor Nnot Expert Trader :-)) and I have given up on a fully automated version for exactlythe reasons being given. Some eyeballing is almost always required unless you want to spend a long time programming.

What I have now is a warning system which gives me an early warning of potential trades over all time frames. If you have 14/16 pairs each with 4/5 tf's then its difficult to keep scanning back and forth. My EA will do that for me.

The only question I now have is on the CCI. As the current bar will still be forming then the CCI on the tf being traded must be +90/-90 on the bar before, is this true or false or is it the value of the current bar at the time of crossing the last hi/lo point.

I hope this make some sense.
Steve

PS Just thought. Also an EA would be difficult across different tf's as its quite possible to have a long trade hourly/daily and a short 5min/15min. This was one of the issues I have with multiple tfs. There can be conflict with direction.


Quoting Cubbybgood
I agree. The EA would most likely have to use other indicators to try and mimic spacing of the ema's. This can be done but how well is to be determined.

It also has to use 2 different time frames which I here can be a little complicated.

If someones up for it feel free to try
  • #307
  • Feb 2, 2011 4:49am Feb 2, 2011 4:49am
Quoting Cubbybgood
anybody take this set up?

looks good. only 8 pip profit though....
Regarding to post #83.
According to your rules, this wasn't a valid swing low, as there was only 2 higher bars before the low, but not after it. Am I wrong?
  • #308
  • Feb 2, 2011 5:19am Feb 2, 2011 5:19am
I'm only answering because I'm interesred in getting the rules correct.

It looks to me like the highs are very close and I can't see exactly looking at the chart posted. I suppose I could look at the actual.

Strictly speaking they should always be lower either side however sometimes equal values are valid for fractals depending on how strict you want to be.

This is why EA's run into problems because they have to be definitively defined. No room for subjectivity.


Quoting yaniv_av
Regarding to post #83.
According to your rules, this wasn't a valid swing low, as there was only 2 higher bars before the low, but not after it. Am I wrong?
  • #309
  • Feb 2, 2011 5:23am Feb 2, 2011 5:23am
Anyone have ideas on the different amounts a pair can move on each swing some are very low while others can move considerably. I realise its a variable issue.
  • #310
  • Feb 2, 2011 5:33am Feb 2, 2011 5:33am
Quoting juzgood1978
wait do you mean there mjust be HH or LL on higher time frame and a good angle of seperation then the lower time frame entry is valid?
No, I was just making ageneral observation... Nothing to do with how you're supposed to trade this system.
  • #311
  • Feb 2, 2011 6:04am Feb 2, 2011 6:04am
Love this system gotten 15pips for GU and 10pips or usdcad today and yesterday 20pips on GU. Seems like I finally see some light in forex trading full-time ?
  • #312
  • Feb 2, 2011 6:29am Feb 2, 2011 6:29am
This thread seems interesting. But to truly appreciate this method it would be necessary to follow every day a pair with one or two TF (5/15 and 15/1h for example) between 8am GMT and 17h GMT and to give all the input signals obtained in this manner and then the results.If not as often there is uncertainty about the true value of the strategy.
  • #313
  • Feb 2, 2011 6:29am Feb 2, 2011 6:29am
Quoting the-game
Could you clarify by editing my USDCAD H4 chart with your thoughts?

BTW, I put in a Sell Stop order 3 pips below the last LL and this is on the 4 hour, so it's valid right?

* EDIT: I just had the same sort of setup on the USDCHF H4 chart - this time I got in 5 pips below the last LL.

** EDIT 2: I've followed your rules in post 1 to the letter... plus I'm with trading with the trend, using reasonable pip buffers above the last HH and below the last LL for entry/SL and accounting for spread for the TP. Are there any more rules that need to go...

This is what I'm talking about...

The candle that I lable as the lowest low in the pic is actualy not a solid lowest low because it's only.02 pips below the other candles. make sense?
Attached Image (click to enlarge)
Click to Enlarge Name: pic1.gif Size: 125 KB
  • #314
  • Feb 2, 2011 6:36am Feb 2, 2011 6:36am
Quoting juzgood1978
Love this system gotten 15pips for GU and 10pips or usdcad today and yesterday 20pips on GU. Seems like I finally see some light in forex trading full-time ?
You should, and you will continue to see that light my friend. Just dont over trade and you'll be fine.
  • #315
  • Feb 2, 2011 6:39am Feb 2, 2011 6:39am
Quoting jeff75
This thread seems interesting. But to truly appreciate this method it would be necessary to follow every day a pair with one or two TF (5/15 and 15/1h for example) between 8am GMT and 17h GMT and to give all the input signals obtained in this manner and then the results.If not as often there is uncertainty about the true value of the strategy.
This sounds like someone that has not read the thread or has not used the strategy yet. Please try it before posting thoughts of uncertainty because this will get you no where in the forex world.
  • #316
  • Feb 2, 2011 6:41am Feb 2, 2011 6:41am
Thanks, Thats answered one of my questions so no equal values.
What about the CCI as I asked earlier, could you be as specific please.
e.g. when does it have to be above or below, it can be marginal at times.

Quoting Cubbybgood
This is what I'm talking about...

The candle that I lable as the lowest low in the pic is actualy not a solid lowest low because it's only.02 pips below the other candles. make sense?
  • #317
  • Feb 2, 2011 6:55am Feb 2, 2011 6:55am
guys and girls,

if there is any question of where you can enter after you see a break. the answer is one pip above or below HH or LL.

I think some may be confused about my rules on the first page.

In order for a low to be a lowest low there has to be at least 2 candles after it that don't break it's low

example,

1.3800 candle followed by a candle that's low is 1.3810 followed by the next candle that's low is 1.3805 followed by the next candle that's low breaks at 1.3799

1.3799 would be your entry. I hope this makes sense because it's important.
  • #318
  • Feb 2, 2011 7:01am Feb 2, 2011 7:01am
Quoting stevecartwright
Thanks, Thats answered one of my questions so no equal values.
What about the CCI as I asked earlier, could you be as specific please.
e.g. when does it have to be above or below, it can be marginal at times.

say you are trading on the 15 min timeframe....

you have a breaking of the highest high with the cci crossing or above 90, you then check the 1 hour timeframe and spacing and uptrend are strong.

This would be a valid signal.

The cci only needs to be crossed or crossing 90 or -90 on the 15 min time frame on the trade I just mentioned
  • #319
  • Feb 2, 2011 7:02am Feb 2, 2011 7:02am
Hi Again,
Which tf's do you confirm with:
15m for 5m
4h for 1hr?
daily for 4h or 1h?

I have built several systems similar to this, but not with all the bits together. This one answers a lot of my problems and I am prepared to share my warning system when its finished. It will not be a automated trading system, no buys/sells just alerts.


Quoting Cubbybgood
guys and girls,

if there is any question of where you can enter after you see a break. the answer is one pip above or below HH or LL.

I think some may be confused about my rules on the first page.

In order for a low to be a lowest low there has to be at least 2 candles after it that don't break it's low

example,

1.3800 candle followed by a candle that's low is 1.3810 followed by the next candle that's low is 1.3805 followed by the next candle that's low breaks at 1.3799

1.3799 would be your entry. I hope this makes sense because it's...
  • #320
  • Feb 2, 2011 7:04am Feb 2, 2011 7:04am
Quoting stevecartwright
Hi Again,
Which tf's do you confirm with:
15m for 5m
4h for 1hr?
daily for 4h or 1h?

I have built several systems similar to this, but not with all the bits together. This one answers a lot of my problems and I am prepared to share my warning system when its finished. It will not be a automated trading system, no buys/sells just alerts.

15m for 5m
4h for 1hr
daily for 4h

This is correct.

We do not use the 30 min or 1 min time frame as mentioned in earlier posts.
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