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Trade What You See - Almost Naked Trading

  • #16,021
  • Jun 13, 2011 10:23am Jun 13, 2011 10:23am
Quoting Kanderpro
Well done Anthar.

I like the idea of your list and post 1 forming a Manual. I’m sure I’m not the only one who has spent their first hours on MT4 learning the hard way.

My latest problem is that I'm changing the X and Y co-ordinates and the true/false statement as per Scrutch's post 2399 on page 160 and then re-loading the indicator into my Crogram Files/FXDD MT4/experts/indicators[color=black][font=Verdana]...
Sometimes MT4 just acts out to piss off, I can't think of anything you're doing wrong, but here's a piece of advice:

Erease your actual LG's Trend Display file (from your indicators file), download it again from this link below and then re-paste it, see if this works when you change the true/false value for Show Current Pair Only...

As for the position I've never been able to place the Indi in a different place than upper right corner, but an easy option to place it somewhere diferent is to open a regular RSI(3) window and then set the option IndicatorInRSIWindow to true. That's all I've been able to change regarding the indicator's position. Hope it helps....
Flp. 4:13
  • #16,022
  • Jun 13, 2011 11:57am Jun 13, 2011 11:57am
silver 4h 3 tap:
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  • #16,023
  • Jun 13, 2011 12:00pm Jun 13, 2011 12:00pm
Quoting peaches
silver 4h 3 tap:
did u take it? : p
Hero calls followed by margin calls...
  • #16,024
  • Jun 13, 2011 12:19pm Jun 13, 2011 12:19pm
Quoting PhAnTi'
did u take it? : p
yes.

closed at oversold on 5 min chart
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  • #16,025
  • Edited 1:32pm Jun 13, 2011 1:05pm | Edited 1:32pm
Took positions on both USD/CAD and CAD/JPY, but within about 30 minutes to an hour, price reversed it's direction and RSI turned around.

Just got stopped out on USD/CAD.

I wonder: does it matter if RSI is in overbought or oversold levels?
  • #16,026
  • Jun 13, 2011 1:40pm Jun 13, 2011 1:40pm
My advice is to stay out of the markets until tomorrow. Most of the European banks are closed (for some reason, why? I don't know). Everything is flat.
  • #16,027
  • Jun 13, 2011 1:41pm Jun 13, 2011 1:41pm
Quoting JusticeFX
Took positions on both USD/CAD and CAD/JPY, but within about 30 minutes to an hour, price reversed it's direction and RSI turned around.

Just got stopped out on USD/CAD.

I wonder: does it matter if RSI is in overbought or oversold levels?
nothing to do with this thread, but I don´t enter a long trade if it is already overbought, on smaler timeframes (5 min, 10 min). I better wait, till price goes against my trading direction then I enter against the current price direction. But this is personal trading habit.

for example gbpchf would be a nice entry where the long green candle breaks the previous red candle (if it goes back there) (the violett line). Lets see how it goes

But the tricky bit is, sometimes it doesn´t goes back...
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  • #16,028
  • Jun 13, 2011 1:52pm Jun 13, 2011 1:52pm
last entry for today: geppy long. 4h 3 tap.

Have a nice day
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  • #16,029
  • Jun 13, 2011 2:01pm Jun 13, 2011 2:01pm
I really cant understand the money tree method. We open our trade at the beginning of the new candle everyday if 4 HR and D1 confirms. And then put our stop loss to 30 pips. Almost every pair comes 30 pips back even if continues after. Please someone help me.Thank you.
Demand is not one wants, but what one can pay for
  • #16,030
  • Jun 13, 2011 2:09pm Jun 13, 2011 2:09pm
Quoting roterio
I really cant understand the money tree method. We open our trade at the beginning of the new candle everyday if 4 HR and D1 confirms. And then put our stop loss to 30 pips. Almost every pair comes 30 pips back even if continues after. Please someone help me.Thank you.
if D1 and W confirmed, for additional info look at 1st page.
  • #16,031
  • Jun 13, 2011 2:14pm Jun 13, 2011 2:14pm
Quoting peaches
nothing to do with this thread, but I don´t enter a long trade if it is already overbought, on smaler timeframes (5 min, 10 min). I better wait, till price goes against my trading direction then I enter against the current price direction. But this is personal trading habit.

for example gbpchf would be a nice entry where the long green candle breaks the previous red candle (if it goes back there) (the violett line). Lets see how it goes

But the tricky bit is, sometimes it doesn´t goes back...
Does it not matter then what the higher time frame RSI's are telling us?

For example, let's say H4, D1 and W1 are all in confirmation (RSI pointing up), but the actual RSI level is overbought, would we still take the trade?
  • #16,032
  • Jun 13, 2011 2:26pm Jun 13, 2011 2:26pm
Quoting JusticeFX
Took positions on both USD/CAD and CAD/JPY, but within about 30 minutes to an hour, price reversed it's direction and RSI turned around.

Just got stopped out on USD/CAD.

I wonder: does it matter if RSI is in overbought or oversold levels?
No, not for our purposes...please no discussions of oversold/bought here as we use the RSI for clues about overall direction only...which is also a very valid use of the RSI indicator.
  • #16,033
  • Jun 13, 2011 2:27pm Jun 13, 2011 2:27pm
Quoting lawgirl21
No, not for our purposes...please no discussions of oversold/bought here as we use the RSI for clues about overall direction only...which is also a very valid use of the RSI indicator.
Ah, okay, thanks LG.
  • #16,034
  • Jun 13, 2011 3:22pm Jun 13, 2011 3:22pm
To those that have been chatting about OB/OS levels. Keep in mind that looking at these is a form of countertrend trading. If you go back and look, you will likely see that quite a bit of our H4 3T, H1 BO and D1 MT trades are shorts when in OS territory and longs in OB territory. These systems (in particular the MT system) shine during big moves, and in these scenarios trading off of OS & OB levels can get you into trouble.

I totally think it's valid to use OB/OS levels for TP levels, and I believe LG has left quite a bit of slack in regards to how each trader wishes to take their pips off the table

Just my 2 cents
Enter Signature
  • #16,035
  • Jun 13, 2011 3:24pm Jun 13, 2011 3:24pm
Hi Kan,
Do not reload the indicator...when you change the x and/or y setting in the user dialog...these settings "stay" with the chart the indicator is attached to. When you reload the indicator it changes back to the default settings.
Just change the values in the x and/or y and click the "ok" to save the new settings for the chart that you are working on. "If" the indicator has not moved then just change the time frame for that chart. ie., if your chart is a H4 change it to a H1 and back to the H4. This will refresh all the indicators on your chart and you should be good to go.

Right click anywhere on screen and left click on Indicator list.
Double left click on the indicator name...or single click and pick edit.
Change the DisplayStarts_X value to 500.
Make sure that the IndicatorRSIWindow is set to false.
Click ok to exit user setting dialog.
Click close to exit indicator list dialog.
Poooofffffhh...you indicator should now be somewhere around mid screen.
When this looks the way you want it, create a template so you can reproduce it on any new charts without having to mess with the indicator again.
If you use a very large number the indicator will plot but will be offscreen where you can't see it so use small number changes to start so you get an idea of how far an increase of 10 moves it.

Quoting Kanderpro
Well done Anthar.
My latest problem is that I'm changing the X and Y co-ordinates and the true/false statement as per Scrutch's post 2399 on page 160 and then re-loading the indicator into my Crogram Files/FXDD MT4/experts/indicators file and restarting FXDD, but I'm still getting the whole list in the top right of the screen.

Any advice please?...
Listen to the whispers.... You may learn something
  • #16,036
  • Jun 13, 2011 3:46pm Jun 13, 2011 3:46pm
Quoting Scrutch
Hi Kan,
Do not reload the indicator...when you change the x and/or y setting in the user dialog...these settings "stay" with the chart the indicator is attached to. When you reload the indicator it changes back to the default settings.
Just change the values in the x and/or y and click the "ok" to save the new settings for the chart that you are working on. "If" the indicator has not moved then just change the time frame for that chart. ie., if your chart is a H4 change it to a H1 and back to the H4. This will refresh all the indicators on...
Someone give this man a beer for taking the time to post all that for the lil' MT newbs!!
Enter Signature
  • #16,037
  • Jun 13, 2011 3:53pm Jun 13, 2011 3:53pm
I am finding that when I am entering the H4 3T trades, RSI turns against me very quickly. Is there any way to better filter out bad trades?

For example, I went long on EUR/CAD on the third candle because it was going in the same direction as RSI and in which way I wanted price to move. I took the trade, but very quickly H4 and price reversed and broke the H4 3T trend line.
  • #16,038
  • Jun 13, 2011 4:18pm Jun 13, 2011 4:18pm
Quoting JusticeFX
I am finding that when I am entering the H4 3T trades, RSI turns against me very quickly. Is there any way to better filter out bad trades?

For example, I went long on EUR/CAD on the third candle because it was going in the same direction as RSI and in which way I wanted price to move. I took the trade, but very quickly H4 and price reversed and broke the H4 3T trend line.
It is very early in the week to be taking 3 Tap trades. The weekly trend is not usually set by Monday.

But I am seeing a valid long trade on EURCAD.
  • #16,039
  • Jun 13, 2011 4:25pm Jun 13, 2011 4:25pm
Quoting Scrutch
Hi Kan,
Do not reload the indicator...when you change the x and/or y setting in the user dialog...these settings "stay" with the chart the indicator is attached to. When you reload the indicator it changes back to the default settings.
Just change the values in the x and/or y and click the "ok" to save the new settings for the chart that .
Thanks so much Scrutch for the great detail. Next time you're in Newcastle I'll buy you a pint. CrucialCraig, I'll buy you a half.
Kan
Thanks for your help, warmth and straight talking Heather.
  • #16,040
  • Jun 13, 2011 5:01pm Jun 13, 2011 5:01pm
AUDCAD H4 looks good. Thinking in going long...
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