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PRICE Accordingly

  • #121
  • Jul 30, 2011 11:52pm Jul 30, 2011 11:52pm
Hi P.Dean, nice system. I'll be watching your thread next week too. I live in OZ and have found a bit of action tends to happen around 00GMT and the Japan open. Have you tried to trade " Price Accordingly" during these time frames?
If not I'll be attempting to once I go over your rules and plan several times.
I very much like what I have read so far
  • #122
  • Jul 31, 2011 5:27am Jul 31, 2011 5:27am
Quoting ozpips
Hi P.Dean, nice system. I'll be watching your thread next week too. I live in OZ and have found a bit of action tends to happen around 00GMT and the Japan open. Have you tried to trade " Price Accordingly" during these time frames?
If not I'll be attempting to once I go over your rules and plan several times.
I very much like what I have read so far
Hi OZ,
welcome to the thread..
I must say No i have not.. adding that session to my existing working hours would turn me into a zombi trader... lol

I tell you what though... the great thing about out little plan is that it provides the luxury to trade most if not all market conditions, so less or more volatility will fall into one or other of our setups... this plan is set to make you money in today's, yesterdays and tomorrows market.
be glad to hear about your results and even better if you be kind enough to show charts and live trades during those hours.
  • #123
  • Jul 31, 2011 5:28am Jul 31, 2011 5:28am
Quoting Patso
P.Dean, your System sounds interesting, thank you for contributing.

Your welcome and Thanks.
  • #124
  • Edited 3:28pm Jul 31, 2011 10:38am | Edited 3:28pm
P.Dean

I have gone through the complete thread I have not been able to pinpoint the exact entry. I would like you to kindly explain your system in a way that ( a dumb newbie like me can understand ) I can pinpoint the entry and exit with an example and pic showing the entry and the trigger RF and also reasons ( conditions met ) that has triggered the entry.
I also do not understand what are the figures ( on the right hand corner of the bands ) that the TMA indicator shows.

I have read and re-read the posts from start to end but I have not been successful. Is there any more simpler explanation that can help me.

Your help is awaited and thanks in advance.
  • #125
  • Jul 31, 2011 3:24pm Jul 31, 2011 3:24pm
Hi All

attached are some new indicators for you to use if you want:-

!Retrace Finder CCI - I noticed that the retracement finder Dean originally posted has a lot of the extra logic for the Kevinator system that is not required in this method.

!TMA True v2 - This is a improved version of the TMA True indicator, this one is faster on initial load and shows some extra information.

In this method the bands are given classifications (Neutral, Mildly Striking, Striking) and depending on the classification different trading options are available.

This new version allows you to easier determine the classification of the band.

The mid-line of the TMA band is now color coded:-

if the color of the mid line is yellow or alternating yellow/red/blue in some sort of cycle then the band is neutral

if the color of the mid line is red or blue, it means that the band is striking, to determine whether it is mildly striking or striking, in the bottom right of the chart below the TMA Range is a new value showing TMA Trend, this is how much the TMA Band has moved in this sequence up/down

There is no hard figure for what determines the switch between mildly striking and striking but I have found that a value less than 35 can generally be defined as mildly striking (of course this number may vary for different currency pairs)

Regards, John
Attached File(s)
File Type: mq4 !Retrace Finder CCI.mq4   4 KB | 1,077 downloads
File Type: mq4 !TMA True v2.mq4   8 KB | 1,185 downloads
  • #126
  • Jul 31, 2011 3:50pm Jul 31, 2011 3:50pm
Hi KKashni

let me see if I can help to make it clearer

In total this method has 3 different classifications of bands and 3 different trade types

Band Classifications

Neutral (N), Mildly Striking (MS), Striking (S)

Trade Types

Bounce (BT), Counter Trend (CT), Mid-line Bounce (MBT)

Only certain combinations are allowed dependent on the band classification

Neutral Band - Only Bounce trades allowed
Mildly Striking - Only Bounce & Counter Trend trades allowed
Striking - Only Bounce & Mid-line Bounce trades allowed

so that gives us

NBT, MSBT, MSCT, SBT and SMBT

Neutral Band (NBT trades only)

Trades are taken based on the price bouncing off the upper & lower TMA lines

Mildly Striking Band (MSBT, MSCT trades only)

MSBT Trades

In an uptrend, BUY trades are taken on the price bouncing off the lower TMA line.

In a downtrend, SELL trades are taken on the price bouncing off the upper TMA line.

MSCT Trades

In an uptrend, SELL trades are taken on the price bouncing off the upper TMA line IF the price makes a Double Top and the SL is less than 15 pips

In a downtrend, BUY trades are taken on the price bouncing off the lower TMA line IF the price makes a Double Bottom and the SL is less than 15 pips

Striking Band (SBT, SMBT trades only)

SBT Trades

In an uptrend, BUY trades are taken on the price bouncing off the lower TMA line.

In a downtrend, SELL trades are taken on the price bouncing off the upper TMA line.

SMBT Trades

In an uptrend, BUY trades are taken on the price bouncing off the MID TMA line.

In a downtrend, SELL trades are taken on the price bouncing off the MID TMA line.

ALWAYS WAIT FOR CLOSED BARS!

In all cases the final filter for the entry of a trade is the Retracement Finder indicator, this MUST be Blue for a buy trade, Red for a sell trade.

Trades are NOT entered immediately on valid signals, rather a pending order is placed a few pips above the high of the signal candle for a buy trade, or a few pips below the low of the signal candle for a sell trade.

Price should always be at least 10 pips away from the opposite band (in the case of SMBT then to the LL/HH) to ensure that there is enough space to make some profit

Regarding the numbers to the side of the TMA indicator, this is the distance in Pips that the current price is away from the band.

Follow along with Dean's trades and everything will become much clearer.

Regards, John
Quoting kkashni
P.Dean

I have gone through the complete thread I have not been able to pinpoint the exact entry. I would like you to kindly explain your system in a way that ( a dumb newbie like me can understand ) I can pinpoint the entry and exit.
I also do not understand what are the figures ( on the right hand corner of the bands ) that the TMA indicator shows.

I have read and re-read the posts from start to end but I have not been successful. Is there any more simpler explanation that can help me.

Your help is awaited and thanks in advance.
  • #127
  • Jul 31, 2011 4:08pm Jul 31, 2011 4:08pm
jmw

thanks for detailed explanation. I would now try to figure out the pics in earlier posts with your explanation which would help me to learn this simple trading method correctly
Thanks once again

K.Kashni
  • #128
  • Jul 31, 2011 4:16pm Jul 31, 2011 4:16pm
I received error messages when compiling both the new indicators.
  • #129
  • Jul 31, 2011 4:20pm Jul 31, 2011 4:20pm
error messages or warnings??

a warning will appear on compilation of both indicators, this can be ignored.


Quoting handy148
I received error messages when compiling both the new indicators.
  • #130
  • Jul 31, 2011 6:50pm Jul 31, 2011 6:50pm
Quote
I tell you what though... the great thing about out little plan is that it provides the luxury to trade most if not all market conditions, so less or more volatility will fall into one or other of our setups... this plan is set to make you money in today's, yesterdays and tomorrows market.
be glad to hear about your results and even better if you be kind enough to show charts and live trades during those hours.
That's what I like about it. Asian session can be awfully slow with a small 15-30 pip range for most of the day at times. Price accordingly gives you the opportunity to trade the small range which is great and also catch the big moves too.
I will show charts no prob, actually monitoring a USDJPY sell on mildly striking bands as I write but pending order not actived yet. Price has gapped up on the open so it may decide to close gap. i suppose if price makes a new high without a order triggered we cancel order correct?

Also JMW 1970 are we all going to use the new indicators now? I think we should all be on the same page as far as indicators are concerned so we all get the same setups. What do you suggest P.Dean?
  • #131
  • Jul 31, 2011 7:55pm Jul 31, 2011 7:55pm
Quoting jmw1970
Hi All

attached are some new indicators for you to use if you want:-

!Retrace Finder CCI - I noticed that the retracement finder Dean originally posted has a lot of the extra logic for the Kevinator system that is not required in this method.

!TMA True v2 - This is a improved version of the TMA True indicator, this one is faster on initial load and shows some extra information.

In this method the bands are given classifications (Neutral, Mildly Striking, Striking) and depending on the classification different trading options are available....
John,
The TMA Range labels are showing on other time frames despite I clicked it for 5M visualisation. Could you please fix this so that it dun show on other time frames? Thanks.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusdtma.gif Size: 18 KB
  • #132
  • Jul 31, 2011 10:19pm Jul 31, 2011 10:19pm
How does this one look Dean/John.
I didn't see it develop but now in hindsight it looks a trade from Asia 1.15 GMT on GU.
Analysis: Pink line shows the trigger inline with RF. Identified MILD MOM setup.
Price put in a double top. Look left and you also see previous resistance from Friday session.
Low of entry candle is 1.6464. Entry would be 2-3 pips under @ 1.6461. Take Profit would be the mid band as price stalled there around 1.6444. profit about 17 pips.
can you please let me know your opinions on trade setup, and whether my analysis is valid and you would have pulled the trigger on it or not.
Attached Image (click to enlarge)
Click to Enlarge Name: test1 gu.jpg Size: 91 KB
  • #133
  • Aug 1, 2011 12:56am Aug 1, 2011 12:56am
just only small notice: TMA period 56 is Keltner channel of a LWMA. Place LWMA period 57 and you will see exactly the same middle line.
jmw great job you did :-)
regards
  • #134
  • Aug 1, 2011 2:22am Aug 1, 2011 2:22am
Hi all,
am currently in a live trade.

Rational is Mildly striking upper band, double top an RF indicator trigger. Going for 15 pips.

Dean, any critique welcome
Attached Image (click to enlarge)
Click to Enlarge Name: eu-trade.jpg Size: 247 KB
- Look to the left, Trade to the right - I am the system
  • #135
  • Aug 1, 2011 2:26am Aug 1, 2011 2:26am
Could maybe have squeeze more out of it, but the trend is technically up.

nice way to start the morning. I'll try not to get too annoyed if it now continues down for another 100 pips!!!
Attached Image (click to enlarge)
Click to Enlarge Name: eu-trade2.jpg Size: 219 KB
- Look to the left, Trade to the right - I am the system
  • #136
  • Aug 1, 2011 3:14am Aug 1, 2011 3:14am
hi all,

thanks p.dean for sharing your method with us. I hope all goes well and we can make use of every market situation either while trending or consolidating.

this is my first demo trade with this method. I considered the band's situation as neutral and entered into trade when RF gave an up signal. it was good for +21 pips.

any comments are welcome...

green pips to all...
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd1.png Size: 35 KB
  • #137
  • Aug 1, 2011 3:17am Aug 1, 2011 3:17am
I also have a question regarding exact entry. Dean, you said
we will wait for the close of that bar and quickly set a pending order 2-3 below/above the closing point.. this is a must and a hard rule..
So do we set an order above/below the close of the signal candle or the h/l of the candle?
Thanks Dean for sharing. I was a follower of the Kelvinator thread and looking forward to following your live trade analysis.
Thanks to John also.
Barry
Attached Image (click to enlarge)
Click to Enlarge Name: ej live.gif Size: 43 KB
Barry
  • #138
  • Aug 1, 2011 3:37am Aug 1, 2011 3:37am
Analysis welcome.
Thx, Barry
Attached Image (click to enlarge)
Click to Enlarge Name: ej live2.gif Size: 49 KB
Barry
  • #139
  • Edited 3:48am Aug 1, 2011 3:46am | Edited 3:48am
Hi Bary,
I don't think you did anything inherently wrong. No system is perfect.

Having said that, and with the benefit of 20/20 hindsight! I saw the same trade setup on EU ( which would have worked out better by the way ), but didn't take it, as by the time I would be triggered, I'm pretty much on the mid line.

i.e. I'm not buying/selling at a market extreme, which seems to work much better for me!

Dean, keen to hear your comments too? I nearly pulled the trigger on that same trade on EU, but didn't - EU was a bit kinder than EJ though, and did make it to the other band.
- Look to the left, Trade to the right - I am the system
  • #140
  • Aug 1, 2011 3:58am Aug 1, 2011 3:58am
Hi everyone,
a bit of a slow start for me today as i got my hand injured playing Tennis yesterday late, so my apologies ahead.

Nice to see everyone active and running.. thanks a bunch to JW (john).. the abbreviation would make things a lot easier to communicated quicker, its awsome.. i will now check the new indies and be around to get some trades in.

EU so far has provided 3 nice quick 10 pips profit on a N trades.. nice and easy..
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