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Attachments: Pivots + RSX + Stochastic on M15 & M30 - Intraday rangebound
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Pivots + RSX + Stochastic on M15 & M30 - Intraday rangebound

  • #861
  • Jul 26, 2011 7:12am Jul 26, 2011 7:12am
just came across your posts... looks interesting as i have been trading stoches now for a year... will look to load over some of your other indicators as i read thru the posts
Durn the torpedos, full speed ahead
  • #862
  • Jul 26, 2011 7:16am Jul 26, 2011 7:16am
Quoting Dorobantu
Haha stop cornering him, he wants to be sure he gets into a trade
just wanna help ^^
Hero calls followed by margin calls...
  • #863
  • Jul 26, 2011 7:16am Jul 26, 2011 7:16am
Quoting duflingy
just came across your posts... looks interesting as i have been trading stoches now for a year... will look to load over some of your other indicators as i read thru the posts
nice to have u with us,

looking forward for further posts,
dont hesitate to ask any questions if u feel to

kind regards
Jonas
Hero calls followed by margin calls...
  • #864
  • Jul 26, 2011 7:21am Jul 26, 2011 7:21am
Quoting PhAnTi'
nice to have u with us,

looking forward for further posts,
dont hesitate to ask any questions if u feel to

kind regards
Jonas
Phanti I've been using your indicator so much but I still dont know what is it. What is it made of? Did you create it?
  • #865
  • Jul 26, 2011 7:23am Jul 26, 2011 7:23am
Quoting Dorobantu
Phanti I've been using your indicator so much but I still dont know what is it. What is it made of? Did you create it?
RSX one?
Hero calls followed by margin calls...
  • #866
  • Jul 26, 2011 7:24am Jul 26, 2011 7:24am
Quoting Dorobantu
Phanti I've been using your indicator so much but I still dont know what is it. What is it made of? Did you create it?
well anyway you are the first dude on this forum asking about ''what actually does an specific indicator show us? what does it represent?''

guess u r on the right track buddy !
Hero calls followed by margin calls...
  • #867
  • Jul 26, 2011 7:26am Jul 26, 2011 7:26am
Quoting PhAnTi'
RSX one?
well check this out :

http://www.jurikres.com/catalog/ms_rsx.htm

rsx is adopted by the rsi indicator (relative strenght indicator, trend indicator,guess u know this ), it is more accurate and more dynamic
Hero calls followed by margin calls...
  • #868
  • Jul 26, 2011 7:31am Jul 26, 2011 7:31am
Congratulations on your 10 000th post
I can see it consists of smoother moving averages and different values from what I'm reading. I'm currently testing out 5 different strategies but only one has given me constant profit/loss ratio, which is your's and I'm thinking of increasing it's volume limit and start paying full atention to it
  • #869
  • Jul 26, 2011 7:35am Jul 26, 2011 7:35am
Quoting PhAnTi'
ok but why u wanna sell at 6430 ?

buy low - sell high
  • #870
  • Jul 26, 2011 7:49am Jul 26, 2011 7:49am
I didn't have time to identify false positive signals of your strategy but would it be possible to identify the cause of these signals and by adding an additional entry condition to filter out more of these bad trades?

I guess that drawing supply / demand level areas are strictly intuitive and this might be the strong feature of this strategy.

Hence not following a robotic pattern and rather a intuitive one you might get better signals as you couldn't be fit into the category of a regular trader which uses regular strategies based on popular indicators / popular entry points for common traders to be left as a open field target susceptible to prediction of the hand of the "butcher".

This may sound awkward but I feel like this may be too simple.. too easy and too good to be true, there always has been and there always will be something fishy about easy good things because there is no such way as a "get rich quick scheme" or "get loads of money fast with no work".

I see the process of making money for yourself as a productive activity that you may be developing for the society and supplying it with goods and services. There is another part of accumulating wealth inside a society and that's theft but I'll let that out of the discussion for the moment. What a trader is doing is speculating about a future price of a certain commodity/currency/stock and he bares a higher risk than others do so that "others" will benefit from his risk taking and repay him in the future.

For example by speculating on the wheat market that the prices will skyrocket the next year due to a fundamental report forecasting an arid year will be of good to the users of that commodity due to the fact that the absence of speculators to sell the wheat at that all time high price would mean disaster and it would be really hard to gain that commodity.

By baring the risk of the disaster, the speculator sells his wheat at that high price hence bringing the price down and serving the general population. The role of the speculator is to bare a high risk for a higher yield, that's how I describe our work and there mustn't be any way of get rich quick scheme as I never found such a example in society / economy.
  • #871
  • Jul 26, 2011 7:50am Jul 26, 2011 7:50am
Quoting PhAnTi'
well anyway you are the first dude on this forum asking about ''what actually does an specific indicator show us? what does it represent?''

guess u r on the right track buddy !
  • #872
  • Jul 26, 2011 7:56am Jul 26, 2011 7:56am
Quoting Dorobantu
Congratulations on your 10 000th post
I can see it consists of smoother moving averages and different values from what I'm reading. I'm currently testing out 5 different strategies but only one has given me constant profit/loss ratio, which is your's and I'm thinking of increasing it's volume limit and start paying full atention to it
Congrats to 10.000 ...you do really good job on this beautiful strategy, keep on
  • #873
  • Jul 26, 2011 8:03am Jul 26, 2011 8:03am
Quoting Dorobantu
Congratulations on your 10 000th post
I can see it consists of smoother moving averages and different values from what I'm reading. I'm currently testing out 5 different strategies but only one has given me constant profit/loss ratio, which is your's and I'm thinking of increasing it's volume limit and start paying full atention to it
pretty appreciate to hear that u r in profit and make some nice pips with this strategy (refresh q does as well, wehha does this rly work? )

Well doesnt matter whether we are in a ranging or trending market, we will always see corrections up and down,reversals,bounces, call them however you like to.... i tried to identify the levels/areas/zones/points where the price is likely to reverse...

and where? of course at demand and supply levels.

What does drive the markets anyway? It's supply and demand

If price reaches a supply area, buyers might bank most of their profits, waiting for further action to buy a) at a lower price again or b) waiting for a break and buy the retest or c) try to buy the breakout itself.

Anyway sellers will get into the game and sell at the supply,trying to catch a high price to sell it expecting lower prices to get out with profits.

So PA will turn at supply if sellers exceed buyers and we just wanna have a slice of the cake, going with the flow, riding the wave...u know what i mean

Demand vice versa ofc...

What do we actually need to be succesful and profitable in trading?

There are only two things:

1st : We do need a system with a positive expectation value.

This should be clear. If we dont have a system that gives us consistently pips we cant make money....

2nd: We do need a proper money management and risk management plan.
Means that we need a proper and reliable MM that we can stand larger drawdowns etc. trading a positive expectation system (there's nosystem givin u a 100 % hit rate etc.).

If we combine those aspects, if we stay patient, if we dont get greedy etc.....we will make it.
And at the end it's all about money, and u'll have a lot of it....

i'll be honest to you guys, i dont care about my equity at the moment, i do care about my pips, pip netprofit etc. cause im freakin 20 years old and dont have any funds so far to trade for a life. (guess u need at least 20 k to do so, depends on your needs etc.).

...
I completely lost the overview of this post hope it is somehow enlighten...

please never stop to ask questions etc. ! Thats the way i've learned all this stuff as well....

and there are no stupid questions,just stupid answers
Hero calls followed by margin calls...
  • #874
  • Jul 26, 2011 8:06am Jul 26, 2011 8:06am
Quoting bullzeye
seriously never use an indicator if you dont know what he's telling you....

how can you understand a chinese talking in chinese to you?

this wont work....know what i mean?

(dont have a better example right now )
Hero calls followed by margin calls...
  • #875
  • Jul 26, 2011 8:25am Jul 26, 2011 8:25am
Quote
I didn't have time to identify false positive signals of your strategy

First of all each system does have false signals, one more one less....

Quote
but would it be possible to identify the cause of these signals and by adding an additional entry condition to filter out more of these bad trades?

That's a pretty tough question.
There are a lot of indicators out there showing us different things,
we have leading indicators, we have lagging indicators, but there are no indicators showing us the future or even predicting the future.

That's impossible.

There are indicators showing us the ''Strength'' of a trend, we might say well the bearish trend gets weaker, we should look for a reversal and a possible buy area.

There are indicators showing us mathematic based levels etc. ( like fibonacchi,murrey math,pivots calculated by previous highs and lows etc.).

But the problem is the following...

Which indicators should be combined to get a good result? which should work theoretically? which dont? Does it make sense to combine a rsx indicator with bollinger bands? what do they say ? do their effects playing together?

etc.

ok missing your point now, yes im sure that there are ways to increase our hitting rate and filter out some losers, but hell, i dont know

Quote
I guess that drawing supply / demand level areas are strictly intuitive and this might be the strong feature of this strategy.

no EA,no indicator can replace the humans sense. Never.
Try to learn about supply / demand, it's the core of this system.
And PLEASE guys, please draw the demand and supply areas by urself, if you arent sure post ur chart and we can discuss it here.

Sources of supply / demand education that i highly recommend :

http://www.forexfactory.com/showthread.php?t=230888

http://www.fxstreet.com/webinars/ses...3-e8f5ecee780e

Quote
This may sound awkward but I feel like this may be too simple.. too easy and too good to be true, there always has been and there always will be something fishy about easy good things because there is no such way as a "get rich quick scheme" or "get loads of money fast with no work".

Well agree, you're right.
The good old ''get rich quick scheme'' .....well ill be honest to you, if you start with 10-20 k , making your 30 pips (30 ! ...thats tiny...) daily (on average of course) you'll be rich in less than 3 years....

Thats the mindset topic....will talk about it later.

Quote
I see the process of making money for yourself as a productive activity that you may be developing for the society and supplying it with goods and services.

also agree on that. Though cant say much about that cause i dont trade for a live so far.... i guess it's a completely different thing when you start to depend on trading and on profits and when you need to withdraw at least once a month...

Quote
What a trader is doing is speculating about a future price of a certain commodity/currency/stock and he bares a higher risk than others do so that "others" will benefit from his risk taking and repay him in the future.

Well thats a quiet complex thing now.
Lets say it this way : Traders are investors, you also risk some of your capital to get a higher reward. Take it as a business, not as a game or s.th else.

Starting with the h1 up to the monthly chart forex is a long term investing business as well.

So dont place a trade based on a h4 chart and sit hours n hours infornt of your screen waiting to bank the profits finally...wont work...u'll get impatient and make losses and mistakes.


thanks for your inputs.

Jonas
Hero calls followed by margin calls...
  • #876
  • Jul 26, 2011 8:35am Jul 26, 2011 8:35am
missed the entry due posting here ^^

Attached Image (click to enlarge)
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Hero calls followed by margin calls...
  • #877
  • Jul 26, 2011 8:41am Jul 26, 2011 8:41am
Phanti I'm just referring to a speculator (us) as a person that for example buys a certain currency considering that he will provide somebody else's demand for that currency at a certain time in the future so the trivial implications of regular people looking at what speculators do is fundamentally wrong.

I was trying to point out the fact that there is no get rich quick scheme inside the society and that currency trading into the market is a process which has it's limits strictly tied up to the fundamental aspects of the trade inside that certain society. So I'll never trust any get rich super fast easy scheme as there is no such thing. Maybe because you're baring a higher risk than anyone else inside a society you will be highly reward if successful and highly punished if wrong.
  • #878
  • Jul 26, 2011 8:48am Jul 26, 2011 8:48am
Quoting PhAnTi'
missed the entry due posting here ^^

Attachment
By dedicating myself full time to a certain strategy I'm open to finding ways of improvement for that strategy and I can see that a major flaw that we are commiting is missing out profitable trades and possibly taking losses.

Overall the strategy may be NET profitable but if we miss good trades and take bad trades only then we will loose even with a viable strategy so I'm thinking of an indicator that monitors the values of RSX on all currencies on all timeframes. Maybe there is some option of exporting indicator values inside a excel table to alert us when RSX values are below or above a certain value and never miss a good trade again?
  • #879
  • Jul 26, 2011 8:51am Jul 26, 2011 8:51am
I have the ideea of taking the RSX value calculation formula and introducing OHLC data from an external source ( it is possible, I've done it before ) and creating our own independent true RSX values possibly with a sound alert when it is below 15 or above 85.


edit: Based on the value alerts that we may receive we may then be able to do intuitive deductions into the charts and take better decisions. We may see additional patterns as multiple currencies that may be correlated to find themselves at certain supply/demand levels in oversold or overbought conditions at the same time thus giving us better chances for a successful trade.
  • #880
  • Jul 26, 2011 8:53am Jul 26, 2011 8:53am
Quoting Dorobantu
Phanti I'm just referring to a speculator (us) as a person that for example buys a certain currency considering that he will provide somebody else's demand for that currency at a certain time in the future so the trivial implications of regular people looking at what speculators do is fundamentally wrong.

I was trying to point out the fact that there is no get rich quick scheme inside the society and that currency trading into the market is a process which has it's limits strictly tied up to the fundamental aspects of the trade inside that certain...
Sure, but i dont wanna talk about society here. Sure mass psychology(herd instinct etc.) is a aspect of trading ( supply and demand again ) but let's keep it as simple as possible and lets take it technically and as a business.
Hero calls followed by margin calls...
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