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1 minute semafor

  • #1
  • First Post: Edited 10:02am Mar 10, 2011 9:40am | Edited 10:02am
My other system (Idyllic Trading) has not been losing, but there have not been a lot of good entries that I have been able to catch. So while spending all this time in front of the screen I started noticing patterns using just semafors and came up with a few rules for trading the 1 minute trends.

I am using a 1-minute chart with just the #4X 3 Semafor Alert (grab it from my other thread).

Whenever you sit down in front of your screen start looking for a semafor with a starburst. The starburst will be red in uptrends and white in downtrends. The starburst will signal an end to the immediate trend. DO NOT DO ANYTHING when you see this starburst. Wait for the market to reverse and come back to the starburst.

In an uptrend wait for the first red semafor - that is a sell signal. Wait for the candle to close and sell with a stop above the starburst.

In a downtrend, after the starburst look for a green semafor to buy.

Hold until a starburst prints in the opposite direction of your trade.

Repeat as much as you like.

Attached Image (click to enlarge)
Click to Enlarge Name: semafor1min.jpg Size: 90 KB
  • #2
  • Mar 10, 2011 9:56am Mar 10, 2011 9:56am
Note: I have only tried this on EURUSD.
  • #3
  • Mar 10, 2011 10:19am Mar 10, 2011 10:19am
Hi,

Looks simple and interesting. I shall give it a try. Thank you. Will the starburst repaint itself?
  • #4
  • Mar 10, 2011 10:29am Mar 10, 2011 10:29am
Great question. I was just about to ask the same thing. If they don't repaint, then this could have some potential to scalp a few pips here and there.

Quoting lundu00
Hi,

Looks simple and interesting. I shall give it a try. Thank you. Will the starburst repaint itself?
Changing my life one pip at a time!
  • #5
  • Mar 10, 2011 10:35am Mar 10, 2011 10:35am
A few pips here and there.

If it doesn’t re paint you could trade it for a week and buy Australia and Possibly New Zealand as well
----o00o--°(_)°--o00o----
  • #6
  • Mar 10, 2011 10:37am Mar 10, 2011 10:37am
After taking a closer look, I think it repaints. If you apply it to an hourly chart, notice how the sunburst are exactly at the tops and bottoms before price starts to trend in the other direction. No indicator can call those points exactly like that so it would seem it repaints as new highs and lows are made. Hopefully I'm wrong but I don't believe I am.
Changing my life one pip at a time!
  • #7
  • Mar 10, 2011 10:38am Mar 10, 2011 10:38am
Or I could let you deal with the stress of that and I will just fatten my bank account! Either way, I think we both win!

Quoting mart-hart
A few pips here and there.

If it doesn’t re paint you could trade it for a week and buy Australia and Possibly New Zealand as well
Changing my life one pip at a time!
  • #8
  • Mar 10, 2011 10:51am Mar 10, 2011 10:51am
I just sat and watch the sunburts on the 1min chart repaint as price made a higher high.

I still look forward to what the thread starter has to say about this issue.
Changing my life one pip at a time!
  • #9
  • Mar 10, 2011 11:04am Mar 10, 2011 11:04am
Quoting lundu00
Hi,

Looks simple and interesting. I shall give it a try. Thank you. Will the starburst repaint itself?
The semafors are based upon zig-zag patterns and just like a plain zig-zag price can make a new lower low or higher high. Yes the starburst will switch o the current candle if a new high is made - one of the reasons I stated to wait for the sell/buy signal.

But c'mon, if the system was perfect why bother with placing a stop! It does not work every time - this is trading and you have to learn to move in that grey area to make any system work. When you show me a system that always works I will personally escort you to the cell right next to Bernie Madoff's.

  • #10
  • Mar 10, 2011 11:06am Mar 10, 2011 11:06am
Quoting StayFocused
I just sat and watch the sunburts on the 1min chart repaint as price made a higher high.

I still look forward to what the thread starter has to say about this issue.
It really wouldn't matter. The starburst isn't the trade signal.

If the red and green dots repaint, then looking back on a chart is meaningless.
  • #11
  • Mar 10, 2011 11:06am Mar 10, 2011 11:06am
Would this work on the 5M or 15M?
  • #12
  • Mar 10, 2011 11:07am Mar 10, 2011 11:07am
ok - this works best when trading in the direction of the longer term trend. A simple way to filter trades is to only sell when price is below the pivot and only buy above it.
  • #13
  • Mar 10, 2011 11:08am Mar 10, 2011 11:08am
Quoting enochben
The semafors are based upon zig-zag patterns and just like a plain zig-zag price can make a new lower low or higher high. Yes the starburst will switch o the current candle if a new high is made - one of the reasons I stated to wait for the sell/buy signal.

But c'mon, if the system was perfect why bother with placing a stop! It does not work every time - this is trading and you have to learn to move in that grey area to make any system work. When you show me a system that always works I will personally escort you to the cell right next to Bernie...
That's not the point. It may work.

The point is there is no way to know if it works by looking back on a chart.

It has to be forward tested.
  • #14
  • Mar 10, 2011 11:11am Mar 10, 2011 11:11am
Quoting mary4x
Would this work on the 5M or 15M?
I really don't know. I have not looked at any other timeframe than 1 minute.

I have another method for 5 minute and longer that works pretty well for me so I probably only use this on 1 min.
  • #15
  • Mar 10, 2011 11:12am Mar 10, 2011 11:12am
Quoting StayFocused
I just sat and watch the sunburts on the 1min chart repaint as price made a higher high.

I still look forward to what the thread starter has to say about this issue.
Hi StayFocused,

I am not the starter here, but I am addicted to the semafor in trading for a very long while now. So I can say : I definetly repaints like hell ;-) this is common sense almost.

What makes this technique described here a bit different from the others is the handling of the repaint issue, meaning after a starburst you at first DO NOTHING. This is utterly important. Because if you did, you can very easily get stopped out.

Now here comes in play the WAIT FOR THE 2ND LEVEL DOT and the CANDLE CLOSE after that. It so looks for a lower high compared to the starburst and then takes this for the start of a reverse. Until now I waited for a break of an 5/21 ema or something like that ... but I will demo this now for a while.

Take this on a M5, and an EA should be written easily, but I am not a programmer.

In general, you could be more safe with this trading strategy if you use a H1 or H4 trend determination and only trade it according to the trend. One easily gets burned in a sudden range / bouncing break out.

Just my 2 cents ... cheers
"We are all just prisoners ... of our own device ..." (Hotel California)
  • #16
  • Mar 10, 2011 11:16am Mar 10, 2011 11:16am
I will also try starting a snowball EA on the 2nd level dot ... maybe on the m5. That could be a nice signal here.
"We are all just prisoners ... of our own device ..." (Hotel California)
  • #17
  • Mar 10, 2011 11:18am Mar 10, 2011 11:18am
hi enochben
can attach #4x 3 semafor indicator?

thanx
The victory is never to fall, is that after every fall rise
  • #18
  • Mar 10, 2011 11:19am Mar 10, 2011 11:19am
Quoting xxl205

In general, you could be more safe with this trading strategy if you use a H1 or H4 trend determination and only trade it according to the trend. One easily gets burned in a sudden range / bouncing break out.

Just my 2 cents ...
Excellent point!

All of your points were very logical but maybe this one will help people who are hesitant.
  • #19
  • Mar 10, 2011 11:21am Mar 10, 2011 11:21am
Quoting rxcasino
hi enochben
can attach #4x 3 semafor indicator?

thanx
http://www.forexfactory.com/showthread.php?t=281465

post #5
  • #20
  • Mar 10, 2011 11:35am Mar 10, 2011 11:35am
Quoting billbss
That's not the point. It may work.
Cmon...does anybody take this guy seriously? This is either a practical joke to test the stupidity of FF visitors, or an expression of unimaginable naivety.

I remember a few years ago a seasoned City trader exploring the possibility of using a ZZ type indicator coupled with volume information to generate reliable signals. The outcome of the experiment was worse than disappointing.

Here's somebody suggesting sell signals in uptrends and buy signals in downtrends, based on a single ZZ type indicator........and nobody has even noticed the absurdity of it apart from mart-hart......


Quote
The point is there is no way to know if it works by looking back on a chart.
It has to be forward tested.

You can backtest using this:

http://www.forexfactory.com/showthread.php?t=60849
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