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  • #2,261
  • Jul 15, 2011 4:20am Jul 15, 2011 4:20am
Hi

couple of points on your last trades:-

EURGBP - why would you place a buy? the tma bands were clearly against you

USDCHF - your trailing stop was too close, the entry was fine, the stop loss should have been about 0.81595, this has not been touched, by my rough calculations the price hasn't even gone up by more than 15 pips yet

AUDJPY - couple of points, your fib placement, for me the fib should go on the whole of the wave, the first retracement that occurred was not nearly big enough to consider the second move down as a new wave
However that said, with the price already well below the TMA bands, your first target should have been the zero line which it hit

there are 2 main price areas you need to concentrate on in this method when in a trade, how the price reacts at the various band levels, and if using the fib, how the price reacts at the zero line

unless it breaks through these areas with no problem you should be looking to exit

All this has been explained numerous times in the forum, I suggest you go back and read again, particularly helpful are the posts from P.Dean.

In regards to waves and fibs there are various resources and information available on this forum and the web

Regards, John
  • #2,262
  • Jul 15, 2011 5:21am Jul 15, 2011 5:21am
couple of points on your last trades:-

EURGBP - why would you place a buy? the tma bands were clearly against you

I saw P.Dean taking those trades. I also took some of those in the past with some success. Because the lack of history i can't decide if they have positive returns. Maybe not.

USDCHF - your trailing stop was too close, the entry was fine, the stop loss should have been about 0.81595, this has not been touched, by my rough calculations the price hasn't even gone up by more than 15 pips yet

Thanks for your insight. I am tring different stops.

AUDJPY - couple of points, your fib placement, for me the fib should go on the whole of the wave, the first retracement that occurred was not nearly big enough to consider the second move down as a new wave
However that said, with the price already well below the TMA bands, your first target should have been the zero line which it hit

It was a long time ago that I studied fib., but I was egar to try them with this method, maybe I was too eager this time.

there are 2 main price areas you need to concentrate on in this method when in a trade, how the price reacts at the various band levels, and if using the fib, how the price reacts at the zero line

unless it breaks through these areas with no problem you should be looking to exit

All this has been explained numerous times in the forum, I suggest you go back and read again, particularly helpful are the posts from P.Dean.

In regards to waves and fibs there are various resources and information available on this forum and the web

I read through the whole thread, but there are some controversal info, and different apporoaches. I try out every apporoach and also mix them for best results.

Thank You for your answer!
"To whom much is given, much is expected." Donald Trump
  • #2,263
  • Jul 15, 2011 6:23am Jul 15, 2011 6:23am
Hi Balasz227

regarding the first point that I made regarding the TMA bands being against you, this is my personal take

i will occasionally take these, if the price action gives me a reason, the fact that the CCI indicates short/long is not enough reason for me

one method that serves me well, is to look for a 123 pattern to return me to the trend direction after a long retrace (and generally this also "flattens" out the TMA bands a bit)

unfortunately the thread owner no longer participates in the thread, though I am sure that he has lots of filters he uses that he just didn't mention.

P.Dean and others have tried to fill in these "missing" gaps with their own insights, likewise myself.

In the end, what occurs is you take the basic methodology and apply your own style, in the end creating a system that YOU can work with (if you look at some of my later screenshots you will notice my screens do not have stochastics or cci)

What works for others may not work for you.

In the end 90% of the systems in this forum are basically the same, trend following - they may use different indicators but a lot of the entry signals are roughly the same, the reason being almost all indicators are based off candle prices (with the exception of volume indicators) therefore if one signals a buy/sell another one is likely to do so as well.

Regards, John
  • #2,264
  • Jul 15, 2011 9:51am Jul 15, 2011 9:51am
I am finding that the best SL and TP are +/- 15 Pips. Having good success with this.

Quoting Balazs227
couple of points on your last trades:-

EURGBP - why would you place a buy? the tma bands were clearly against you

I saw P.Dean taking those trades. I also took some of those in the past with some success. Because the lack of history i can't decide if they have positive returns. Maybe not.

USDCHF - your trailing stop was too close, the entry was fine, the stop loss should have been about 0.81595, this has not been touched, by my rough calculations the price hasn't even gone up by more than 15 pips yet

[b]Thanks for your insight. I...
  • #2,265
  • Jul 15, 2011 12:48pm Jul 15, 2011 12:48pm
Quoting jmw1970


In the end, what occurs is you take the basic methodology and apply your own style, in the end creating a system that YOU can work with ...

Regards, John
Yeah, aggree, Still lurking here but like you have tweaked method a bit. Up and down, still getting better. I have a great day, get a swelled head then, get slapped back.

Good thing I dont make a living this way
  • #2,266
  • Jul 17, 2011 6:00am Jul 17, 2011 6:00am
I have been reading this thread with great interest and like to fully understand what each indicator is and how it's created. I have looked at the code for TMA but what is the background/code as I don't fully understand it?

Is it a triple moving average smoothed? In straight forward trading talk - what is it?

Any help would be great.
  • #2,267
  • Jul 17, 2011 10:55am Jul 17, 2011 10:55am
hi

mid-line is a linear weighted moving avg of x periods (default 56)
upper and lower lines are an average true range multiplier (default 2) of x periods (default 100)



Quoting PipMonster1
I have been reading this thread with great interest and like to fully understand what each indicator is and how it's created. I have looked at the code for TMA but what is the background/code as I don't fully understand it?

Is it a triple moving average smoothed? In straight forward trading talk - what is it?

Any help would be great.
  • #2,268
  • Jul 17, 2011 4:04pm Jul 17, 2011 4:04pm
Quoting jmw1970
hi

mid-line is a linear weighted moving avg of x periods (default 56)
upper and lower lines are an average true range multiplier (default 2) of x periods (default 100)
Thanks jmw1970. I'll have a think about that. But repainting - can't be good for backtesting I guess?
  • #2,269
  • Jul 17, 2011 4:50pm Jul 17, 2011 4:50pm
I (and i think most people) use the TMA True, no repainting

Quoting PipMonster1
Thanks jmw1970. I'll have a think about that. But repainting - can't be good for backtesting I guess?
  • #2,270
  • Jul 17, 2011 5:13pm Jul 17, 2011 5:13pm
Quoting jmw1970
I (and i think most people) use the TMA True, no repainting
Thanks jmw1970. I'll try using the True TMA. It definitely gives a much different picture than the repainting/hindsight TMA.
  • #2,271
  • Jul 17, 2011 11:37pm Jul 17, 2011 11:37pm
@jmw1970
Thanks for all your work.
May i ask you, which indicator draws the arrows of your trades in the chart?
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD-2011.07.13-13.45-5m.gif Size: 57 KB
  • #2,272
  • Jul 18, 2011 2:42am Jul 18, 2011 2:42am
this is a standard feature of MT4

to show a historical trade on the chart, go into the terminal section and "drag & drop" the order onto the price chart

Quoting tmg
@jmw1970
Thanks for all your work.
May i ask you, which indicator draws the arrows of your trades in the chart?
  • #2,273
  • Jul 18, 2011 5:19am Jul 18, 2011 5:19am
not expecting much from usdcad trade, let see how they all pan out.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: au.gif Size: 21 KB
Click to Enlarge Name: gu.gif Size: 20 KB
Click to Enlarge Name: uc.gif Size: 18 KB
Click to Enlarge Name: eu.gif Size: 19 KB
keep it movin'
  • #2,274
  • Jul 18, 2011 5:43am Jul 18, 2011 5:43am
Quoting kola8701
not expecting much from usdcad trade, let see how they all pan out.
Hey Kola, on which of these 4 pairs are you long & on which are you short so that we can discuss (it doesn't show on the charts)

Edit: my bad, i've just spotted the buy/sell lines on all 4
  • #2,275
  • Jul 18, 2011 5:51am Jul 18, 2011 5:51am
Quoting olivierforex
Hey Kola, on which of these 4 pairs are you long & on which are you short so that we can discuss (it doesn't show on the charts)

Edit: my bad, i've just spotted the buy/sell lines on all 4
Ooh okay then, i just exited all my trades though, coz i need to run some errands.

gu 29
eu 17
au -3
uc -1.
keep it movin'
  • #2,276
  • Edited 2:06am Jul 19, 2011 1:53am | Edited 2:06am
I got in late on au, i took -7pips on gu this morning. there was a perfect trade on eu that would have gotten to my tp but ignored it coz the tma was going downward and the market was telling me buy, better careful than sorry right?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: au.gif Size: 19 KB
Click to Enlarge Name: uc.gif Size: 20 KB
keep it movin'
  • #2,277
  • Jul 19, 2011 2:09am Jul 19, 2011 2:09am
I just took another buy on gu right now.
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 21 KB
keep it movin'
  • #2,278
  • Jul 19, 2011 2:45am Jul 19, 2011 2:45am
All trades gotten to target before i came back from the kitchen.
gu 25
au 25
uc 20
gu -7(my first trade for the day)

Im shutting the platform for kevinator till later or tomorrow and facing my other strategy.
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 17 KB
keep it movin'
  • #2,279
  • Jul 19, 2011 11:52pm Jul 19, 2011 11:52pm
EU buy

http://content.screencast.com/users/...07-20_1150.png
  • #2,280
  • Jul 20, 2011 2:12am Jul 20, 2011 2:12am
Just woke up and took a quick scan thru the five pairs that i trade and entered just 2, im no master at this, just learning like any other person.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gu.gif Size: 19 KB
Click to Enlarge Name: uchf.gif Size: 19 KB
keep it movin'
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