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  • #1,881
  • Jun 13, 2011 1:14pm Jun 13, 2011 1:14pm
Quoting gilab
Here's an idea I had today but I'm at work and haven't had a chance to test yet. What if we chose pairs based on 2 or 3 higher tf's but with the opposite signal on a lower tf, possibly showing a pullback in progress.
You have no idea if it is a pull back or a reversal on the ShortTF..... so you would go in a substantial DD all the while thinking "hmmmmm.... it gotta to reverse soon....right?".... and then it drops ever further down...

A safer refinement of your idea may be:-

HighTF = long

Short TF = Long/Short/Long ....enter when the Short TF goes thru the pullback..use some sort of 123 method to confirm the ShortTF retracement
  • #1,882
  • Jun 13, 2011 1:15pm Jun 13, 2011 1:15pm
As long as you determine the strength of EU to $ and weakness of JPY you can take trade based on that.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu.gif Size: 66 KB
Click to Enlarge Name: eu1.gif Size: 25 KB
  • #1,883
  • Jun 13, 2011 1:47pm Jun 13, 2011 1:47pm
Quoting gilab
Here's an idea I had today but I'm at work and haven't had a chance to test yet. What if we chose pairs based on 2 or 3 higher tf's but with the opposite signal on a lower tf, possibly showing a pullback in progress.
Here's why you shouldn't do that.

While the premise is good (buying a pull-back), you would not knowingly get on a southbound train to go north, right?

The only thing that makes logical sense is that if you want to go north is to get on a train that is already going north.

Hence, the RIGHT way to buy a pullback is to jump on AFTER it has stopped, turned around, and has started going north and WITH CONVICTION, meaning a with a STRONG up-bar.
Always a Student, Never a Master - Emulate What Works
  • #1,884
  • Edited 2:36pm Jun 13, 2011 1:54pm | Edited 2:36pm
  •  sym
  • Joined Apr 2011 | Status: Working... (too much) :) | 356 Posts
New basket, other +110 pips in less than 1 hr (closed at +110 after taking the picture).

LOL
Attached Image (click to enlarge)
Click to Enlarge Name: basket4.jpg Size: 277 KB
--- nothing to say ---
  • #1,885
  • Jun 13, 2011 3:51pm Jun 13, 2011 3:51pm
Quoting RobinHood
Here's why you shouldn't do that.

While the premise is good (buying a pull-back), you would not knowingly get on a southbound train to go north, right?

The only thing that makes logical sense is that if you want to go north is to get on a train that is already going north.

Hence, the RIGHT way to buy a pullback is to jump on AFTER it has stopped, turned around, and has started going north and WITH CONVICTION, meaning a with a STRONG up-bar.
Makes perfect sense. I was getting a little carried away with MTF thinking.
  • #1,886
  • Jun 13, 2011 4:11pm Jun 13, 2011 4:11pm
Quoting sym
New basket, other +110 pips in less than 1 hr (closed at +110 after taking the picture).

LOL
Sym,

Wich are yours parameters?

Indicators : CCFp Diff v2.0?
Time frame : 1440?
User Current : True?
User Bar : True?
Trade Level : 3?

Is this correct?
Thank you for your answer!
  • #1,887
  • Jun 13, 2011 7:09pm Jun 13, 2011 7:09pm
Today's basket based on histo only
GMT +0

Basket was considered between pairs matching from D1 & H4 :

GBP/JPY - BUY
GBP/CHF - BUY
AUD/JPY - BUY
AUD/NZD - BUY
AUD/CHF - BUY
GBP/NZD - BUY

%Risk for the basket : 3%
%Risk per pair : 0.5%
Stop Loss : 100 pips
Take Profit : 200 pips
B/E : 30 pips
B/E profit : 4 pips
Trailing stop activate : 30 pips
Trailing stop : 30 pips
Trailing stop step : 1 pip
  • #1,888
  • Jun 13, 2011 8:05pm Jun 13, 2011 8:05pm
Here's my trades for tonight. Made 89.4 pips, was near 100 but by the time I got all 7 trades closed the net was 89.4

Attached Image (click to enlarge)
Click to Enlarge Name: 6-13-Trades.jpg Size: 124 KB
Always a Student, Never a Master - Emulate What Works
  • #1,889
  • Jun 13, 2011 8:43pm Jun 13, 2011 8:43pm
Quoting RobinHood
Here's my trades for tonight. Made 89.4 pips, was near 100 but by the time I got all 7 trades closed the net was 89.4

Attachment
Hi RH,

Can you shore the way you are taking your pairs. Do you base yourself to 1 TF only or take the comparaison of different TFs.

Thanks,
cocoth
  • #1,890
  • Jun 13, 2011 9:03pm Jun 13, 2011 9:03pm
Quoting sym
New basket, other +110 pips in less than 1 hr (closed at +110 after taking the picture).

LOL
Hi Sym,

I like your template. I like the way everything is arranged neatly.
Is there anyway you can put that template here.
thanks
  • #1,891
  • Jun 13, 2011 9:14pm Jun 13, 2011 9:14pm
I would like to share my setup to everyone. It was working well last week, but let's see how it will perform this week :

GMT +0 :
- Check D1 Current & H4 Current
- Trade the matching pairs

GMT +4 & 8 :
- Check H4 (Level 2 only)

Enter basket only with a min of 4 pairs

(for the running pairs, S/L, T/P, B/E, etc.... see threat above)
  • #1,892
  • Jun 13, 2011 9:19pm Jun 13, 2011 9:19pm
I have a philosophical question. It's not directed at any one person. It's for anyone who wants to answer:

Q: When you go to your charts, do you expect to see possible trades, or do you wonder if there will be possible trades waiting for you?

My answer: I am a wonder if type of trader. Because I feel if I expect to see trades then I will start over trading with bad trades that I created from my desires, rather than from the raw data.

What at abut you guys?
To improve is to change. To perfect, is to change often.
  • #1,893
  • Jun 13, 2011 9:31pm Jun 13, 2011 9:31pm
Quoting forexhard
I have a philosophical question. It's not directed at any one person. It's for anyone who wants to answer:

Q: When you go to your charts, do you expect to see possible trades, or do you wonder if there will be possible trades waiting for you?

My answer: I am a wonder if type of trader. Because I feel if I expect to see trades then I will start over trading with bad trades that I created from my desires, rather than from the raw data.

What at abut you guys?
Interesting question !

Actually, Expect is that you want to see trades and will probably find some (anyhow)

... and Wonder is more analytic; you go, see, analyze and enter if it matches your setup conditions

(this is my understanding and I am more a "Wonder" trader i think)
  • #1,894
  • Jun 13, 2011 9:37pm Jun 13, 2011 9:37pm
Quoting cocoth
Interesting question !

Actually, Expect is that you want to see trades and will probably find some (anyhow)

... and Wonder is more analytic; you go, see, analyze and enter if it matches your setup conditions

(this is my understanding and I am more a "Wonder" trader i think)
That's right. You understand the question. Please continue...
To improve is to change. To perfect, is to change often.
  • #1,895
  • Edited Jun 14, 2011 12:49am Jun 13, 2011 9:50pm | Edited Jun 14, 2011 12:49am
Okay - I just read pages 1-46 then 115-127. I think it may be a good idea to summarize some of these points back into Post 1. The one or two indis with a nice template. Explain to folks to jump to page xxx. When I started reading I was figuring stuff out from bar 2 to bar 1 then I discovered the indi with the +'s and -'s now the very slick indi that just tells you to buy or sell. All you need to know is how to modify that indi and position it on the screen, or maybe just a nice template. Thanks...
  • #1,896
  • Edited 11:54pm Jun 13, 2011 9:53pm | Edited 11:54pm
Quoting forexhard
That's right. You understand the question. Please continue...

I believe these both terms (Expect/Wonder) are valid for both :
1/ Enter trades
2/ Exit trades

as we can also say do you Expect for a profit or Wonder if a profit.

Expect a profit = leave the trade until it is in profit, even if all settings are not good anymore or cut in profit too quickly

Wonder a profit = You will analyze the market and will cut your losses if they are no more in accordance with the market/settings or leave the trades going further until settings are not good anymore or hit the T/P

A trader can be Wonder for the entry and can be Expect for the exit as traders don't like to cut with loss.

But, I believe it is more profitable to be Wonder/Wonder if you want to stay long on this business
  • #1,897
  • Edited 12:26pm Jun 14, 2011 1:17am | Edited 12:26pm
  •  sym
  • Joined Apr 2011 | Status: Working... (too much) :) | 356 Posts
Quoting ES Trader
Hi Sym,

I like your template. I like the way everything is arranged neatly.
Is there anyway you can put that template here.
thanks
Quoting balouf
Sym,

Wich are yours parameters?

Indicators : CCFp Diff v2.0?
Time frame : 1440?
User Current : True?
User Bar : True?
Trade Level : 3?

Is this correct?
Thank you for your answer!

Hi ES trader
I'll do it very gladly, but you have to wait till this evening (GMT time) because I'm at work (I'm not a pro trader).
My template has monthly, weekly, daily, 4h and 1h histo based on bars. In the upper right corner there is a 4h histo based on MA.
I use to watch monthly, weekly and daily histo, less 4h and 1h. The first 3 should be green, the last 2 could be red (edit: in order to buy, vice versa in order to sell).

I opened a new basket before going to bed, and this morning (8 GMT) it was +139 pips. I'm not live... I am still on a demo account.
3 basket in a row with +359 pips in half day. I don't know if it was just luck, but it seems to work.

Thanks to you for this thread and for sharing your idea.

Have a great day

P.S. for balouf
you will have my setting with the template I'll post. :-)
--- nothing to say ---
  • #1,898
  • Jun 14, 2011 4:39am Jun 14, 2011 4:39am
Quoting cocoth
Hi RH,

Can you shore the way you are taking your pairs. Do you base yourself to 1 TF only or take the comparaison of different TFs.

Thanks,
cocoth
I don't have one set way of doing it as of yet. I look at the 4Hr, D1 and W1.

At times I'll take just what the D1 says, other times I'll take what D1 says PLUS other trades on the histogram, and a couple of times I used just the histogram as FH suggested.

The thing I don't like about using the suggestions is that it can get in periods where it constantly changes trades. Considering the spread, that can get expensive, plus it's very annoying.

So I am really still in the research phase of all this for now as you can see. If I find one definitive way that works best for me, I'll post it.

Perhaps others can chime in with what has been working best for them.
Always a Student, Never a Master - Emulate What Works
  • #1,899
  • Jun 14, 2011 6:13am Jun 14, 2011 6:13am
Quoting sym
Hi ES trader
I'll do it very gladly, but you have to wait till this evening (GMT time) because I'm at work (I'm not a pro trader).
My template has monthly, weekly, daily, 4h and 1h histo based on bars. In the upper right corner there is a 4h histo based on MA.
I use to watch monthly, weekly and daily histo, less 4h and 1h. The first 3 should be green, the last 2 could be red.

I opened a new basket before going to bed, and this morning (8 GMT) it was +139 pips. I'm not live... I am still on a demo account.
3 basket in a row with...
Thanks
  • #1,900
  • Jun 14, 2011 7:58am Jun 14, 2011 7:58am
I decided to try a basket based on H1 and H4, instead of H4 and D1. The first attachment is how it looked upon entry. The second is how it looked 5 minutes later. It's now up 415 pips (35 minutes later). I don't think this is normal. There was news at 9:30 am EST and I entered five minutes before that. The news wasn't "red," but it seemed to send the market flying.

I'm going to try this again later when there's no news.

Can someone tell me how to insert an image in a post so it doesn't have to be an attachment?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Basket Entry.gif Size: 54 KB
Click to Enlarge Name: 5 minutes later.gif Size: 54 KB
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