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Trading system using relative strength

  • #1,541
  • Jun 7, 2011 4:20am Jun 7, 2011 4:20am
forexhard,

Two graphs are showing the same strengths and weaknesses at that time.

Bruce

Quoting forexhard
Come on guys, don't just read and walk away -- chime in here.
  • #1,542
  • Jun 7, 2011 6:30am Jun 7, 2011 6:30am
last evening I was able to create following basket after comparing weekly and daily. And was able to grab another 100 pips
Attached Image (click to enlarge)
Click to Enlarge Name: ccfp4.gif Size: 109 KB
  • #1,543
  • Jun 7, 2011 7:23am Jun 7, 2011 7:23am
ES.
You didn't happened to take a snapshot of these trades at the beginning so that we could see what the indicators were showing you at the time you entered the trades?

Thanks for this snapshot..

Bruce

Quoting ES Trader
last evening I was able to create following basket after comparing weekly and daily. And was able to grab another 100 pips
  • #1,544
  • Jun 7, 2011 8:03am Jun 7, 2011 8:03am
Quoting brucech
ES.
You didn't happened to take a snapshot of these trades at the beginning so that we could see what the indicators were showing you at the time you entered the trades?

Thanks for this snapshot..

Bruce
same as u see in the chart above except eur was green in both daily and weekly and hence no trades using euro
  • #1,545
  • Jun 7, 2011 8:04am Jun 7, 2011 8:04am
Thanks ES.


Quoting ES Trader
same as u see in the chart above except eur was green in both daily and weekly and hence no trades using euro
  • #1,546
  • Jun 7, 2011 9:01am Jun 7, 2011 9:01am
Hi Forexhard

when i use your template i find the indicator CCfp_diff v2.0 is different from the indicator CCfp_v1.02

Please see the pic below
Thank you ! Sorry for bothering you!
Attached Image (click to enlarge)
Click to Enlarge Name: 9.jpg Size: 76 KB
  • #1,547
  • Jun 7, 2011 10:18am Jun 7, 2011 10:18am
Another set of trades .Choosing currency pairs that at least match 2 time frames.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: ccfp4.gif Size: 61 KB
Click to Enlarge Name: ccfp5.gif Size: 111 KB
  • #1,548
  • Jun 7, 2011 10:32am Jun 7, 2011 10:32am
Quoting ES Trader
Another set of trades .Choosing currency pairs that at least match 2 time frames.
That simple analysis is often enough. Do you try to figure things out yourself or take the suggestions?
A successful trading depends on knowing what to analyze.
  • #1,549
  • Jun 7, 2011 10:36am Jun 7, 2011 10:36am
Quoting Pipdealer
That simple analysis is often enough. Do you try to figure things out yourself or take the suggestions?
??
  • #1,550
  • Jun 7, 2011 10:41am Jun 7, 2011 10:41am
Quoting Pipdealer
That simple analysis is often enough. Do you try to figure things out yourself or take the suggestions?
Both, as long as pairs match at least in two time frames. If I cannot balance buys and sells from suggestions, I try to make some compromise and take pairs from just ONE time frame.
  • #1,551
  • Jun 7, 2011 10:53am Jun 7, 2011 10:53am
Quoting ES Trader
Another set of trades .Choosing currency pairs that at least match 2 time frames.
Quoting ES Trader
same as u see in the chart above except eur was green in both daily and weekly and hence no trades using euro
Hi ES,
I am getting confused here . Why didn't you take euro when the daily and weekly TFs match?

Thank you.
  • #1,552
  • Jun 7, 2011 11:03am Jun 7, 2011 11:03am
ES,

I noticed that you have your weekly signals set to Trade Level 1, 4 hour set to Trade Level 1 BUT your daily is set at Trade Level 2.

Was that intentional? If so, what was your reasoning if you don't mind me asking?

================

On another note, I trade in a similar way looking at the strength/weakness across MTFs. What I struggle with most is WHEN exactly to open trades in that I look at the weekly, daily and 4 hour charts BUT they usually all signal at different times.

Do you have any suggestions as to the best times to enter trades? Or how you do it?
Always a Student, Never a Master - Emulate What Works
  • #1,553
  • Jun 7, 2011 11:06am Jun 7, 2011 11:06am
Quoting bcarbon
Hi ES,
I am getting confused here . Why didn't you take euro when the daily and weekly TFs match?

Thank you.
You are right. I missed it. Any how the trades are turning positive. Lets see what happens. Please note some of my trades are on demo account.
  • #1,554
  • Jun 7, 2011 11:08am Jun 7, 2011 11:08am
Quoting RobinHood
ES,

I noticed that you have your weekly signals set to Trade Level 1, 4 hour set to Trade Level 1 BUT your daily is set at Trade Level 2.

Was that intentional? If so, what was your reasoning if you don't mind me asking?

================

On another note, I trade in a similar way looking at the strength/weakness across MTFs. What I struggle with most is WHEN exactly to open trades in that I look at the weekly, daily and 4 hour charts BUT they usually all signal at different times.

Do you have any suggestions as to the best times...
I have converted now, all of them to level 1, Just to get more suggestions. I am lazy to look for pairs matching the histogram
  • #1,555
  • Jun 7, 2011 11:26am Jun 7, 2011 11:26am
One can use this system to trade individual pairs as well especially when lower time frame changes . For eg eurusd gave a sell on recent 4 hr bar change. euraud gave a buy and aud pairs gave a sell
Attached Image (click to enlarge)
Click to Enlarge Name: ccfplive.gif Size: 61 KB
  • #1,556
  • Jun 7, 2011 11:34am Jun 7, 2011 11:34am
ES, you have the right idea but you're going about it the long way around.

Build a stack of indis as shown here. Make sure every indi has 100% indentical trade settings, except for the time frames of course.

Then all you have to do is wait for the colored bars to match across 3 of the 4 TF's before building your basket. The Weekly and the Daily should be in agreement, but only one of the smaller TF's needs to match the 2 higher ones. In other words, if you try waiting until all 4 are in perfect agreement you may be waiting for days before being able to trade.

Post your new template so I can look it over, OK?

Remember also, that the Level settings only matter if you are using the upper pairs suggestions. If you are reading the histo only (which is what I recommend) the suggestions aren't really necessary. I think the main reason you are using the suggestions is because you haven't caught on to the proper use if the histos yet. With this set-up things should become much clearer.

Guys, it's important to remember that the higher TF's are built from the lower ones. So once tha charts are up you need to wait 4 or 5 hours for signals to come your way. The results are not "instant" the moment you apply the template; you must wait a while. If you are placing trades as soon as you open a new template don't be surprised if the results aren't perfect and your basket goes against you.
Attached Image (click to enlarge)
Click to Enlarge Name: stack.png Size: 14 KB
To improve is to change. To perfect, is to change often.
  • #1,557
  • Jun 7, 2011 11:41am Jun 7, 2011 11:41am
Quoting forexhard
ES, you have the right idea but you're going about it the long way around.

Build a stack of indis as shown here. Make sure every indi has 100% indentical trade settings, except for the time frames of course.

Then all you have to do is wait for the colored bars to match across 3 of the 4 TF's before building your basket. The Weekly and the Daily should be in agreement, but only one of the smaller TF's needs to match the 2 higher ones. In other words, if you try waiting until all 4 are in perfect agreement you may be waiting for days before...
Hi HF
Here is the chart with template. Do you think it is the right temp.
Attached Image (click to enlarge)
Click to Enlarge Name: ccfplive.gif Size: 27 KB
  • #1,558
  • Jun 7, 2011 11:52am Jun 7, 2011 11:52am
You can make it look how ever you like.

Here is what mine looks like. Just like the picture I just posted. So easy a blind man could read it and build baskets from it.
Attached Image
To improve is to change. To perfect, is to change often.
  • #1,559
  • Jun 7, 2011 11:56am Jun 7, 2011 11:56am
Here's what mine looks like:

Attached Image
Always a Student, Never a Master - Emulate What Works
  • #1,560
  • Jun 7, 2011 12:02pm Jun 7, 2011 12:02pm
Quoting ES Trader
One can use this system to trade individual pairs as well especially when lower time frame changes . For eg eurusd gave a sell on recent 4 hr bar change. euraud gave a buy and aud pairs gave a sell
It would be nice to have an alphabetically sort of the pairs.
It would be easier to compare the pairs!
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