On My Way To The Top

just an idea to make it clearer for outsider:
why don't you use color Vlines for the entries instead of the Yellow:

e.g. UP Entry: Red, DOWN Entry Blue.

just a thought.

I can do that....first two lines are buys...third entry is sell and fourth entry is buy....but first entry would have been stopped out...

I was unsure if you use such sells because of the MA stack. But color VLines will surely make it easier to spot. Thanks.

That sell was there due to it being a bsb trade which seem to usually go against the moving averages but that's another entry type that is being used amongst the three that I look at on the same chart...

I've made well over my goal...so I'm off to work and going to take it easy for the rest of the day...So will be out of the market until Sunday open and see how that goes...So here are my entries for today per MJ's request vertical lines are different colors....blue lines are for buys and red lines are for sells...


Paul

....

Since beginning this journal, my trading and such has evolved and so has my entries and things I look for in order to enter a trade. And as a result the first post has been updated with new entry rules and so on....


Paul

good to see you updated the first post this helps me to see what you are looking for in the alert

Hope it all makes sense...i will add counter trend entry rules to first post at a later time....


Paul

Yes, I find it much clearer written: you will just have to watch to not be carried away when the new indi stuff is coming out.

Question for your price touch EMA.


Do you want to be alert only if the Price touches(or defined distance) or also if it breaks further through.

See pic. in case the next candle opens on the other side of the EMA and is already out of the additional distance)??

I guess the basic question is:

1. do you need an alert if the Price breaks through the EMA - no matter how far away

OR

2. if the price is in a defined distance from the EMA

Both are different.

The answer to that would be an alert when price is a set distance away from ema's and that way the user can set it to a set number of pips away or set it to when price actually touches the ema if desired...

Ok.

15 minute entry from today...

price rallied about 150+ plus pips from entry but it would be all dependent on one's trade management how much of this move is caught...me personally I would have been knocked out at 4% risking 2 percent so about 1:2 r:r....not too many entries today since a lot of the different pairs seem to still be moving from their one hour entries on Friday which wouldnt be bad if one were actually in them still....


Paul

hi,

could you be so kind and post a template of your latest setup (inclusive all indi)

Thanks

Sure...added to first post...

pmullin86 Thanks.

One other thing I noticed and wanted to say something for clarification:

From your first post:
Only candle closes are used so when looking at the daily and hour for direction than the last closed position must be considered and not the current open position of the stochastics....


Clarification for the related Alerts:at the moment I have no interest in what you do above.

At the moment for my MTF Direction, MTF MA Order and oder MTF Alerts ect... I compare always chart bars and not the MTF bar.
(even though I could actually I have thought about this before developing my indis an created them in a way that this would not be so hard if I ever want it to be done)


There are basically a couple of simple reason for it:

1. for me the idea of using MTF indi is to make things simpler on the eye:
otherwise I can use anyway multiple charts.

2. With an MTF indi using the last closed MTF Bar is only in some cases simple.

e.g. of the problem I mean:

MTF Stochastic MTF Interval: 1 MONTH (43200=MN1) CHART: 1 MINUTE

So today: 30 August the last closed MTF bar is the July Month bar which closing position is approximately 43000 chart bars back.
It does not seem for me to make things simpler If one has to scroll back 43000 bars to check the last closed position.

to make things worse: for direction consideration one needs additionally the previous MTF bar (the closed position alone does not say anything about the direction) which doubles the above to about 86000 chart bars.


I know where you are coming from: also Spud always emphasised the closed bar approach (except for rope if I'm not mistaken)


Well: I just wanted to point this out in case you still want to use my MTF indi Alerts.

pmullin86: you mentioned you only use chart bars is that not the same as mtf or are the calculations different or something i believe I'd like a little elaboration...because for the daily i do just simply go to the daily chart at start of day to get all last closed positions as opposed to going back on five chart but i do just use mtf on fifteen minute chart to get direction of daily...

Difference of what Spud suggested and you do and I did in the past and my current approach:

e.g. Daily chart:
OLD WAY: Using the last closed candle:
For direction one needs yesterdays REAL MTF BAR (like on an separate chart) closing STO (Last closed Bar) and the day before yesterday closing STO and see it the line between this two points is up or down. Right?

NEW APPROACH:
For direction of MTF STO I do simple: compare the current MTF Chart STO with the Previous MTF Chart STO.

which is translated to the real MTF Chart the wiggling part (and only a small part of it (the last 2 chart bars of time)

Additional difference is that I use a STO based on open bar values.


Looking at the pic below: first 2 Charts are D1 - 3rd chart is M15 MTF (D1) based on open bar value (one can't see too well the new M15 chart bar as it just started and is lime color.)

Man if I were trading full time and didn't have a day job or anything...this would be the life...lol if I could make all my money and be done working by 8 A.M.. EST lol and have the rest of the day to myself and family...couldnt ask for anything more...it will come soon enough as all this hard work isn't for anything...but anyway on that note I'm done for the day...I've only taken three trades today and just watched all the other pips just pass by lol...but its fine as one should be able to sit on the sidelines and wait for an entry per whatever your trade plan or rules are and not chase the market...one sell on the gbp usd which I closed out for 8 percent since it was around the fib s3 level and the daily range had been met already and thats above my daily goal anyway so why be greedy...and the next sell was on the usd chf for a break even trade....and also a sell on the nzd usd for another break even...as commented on the pic...I do think the trade would have been better if the 4 hour was below the overbought level and than that would have started what spud would consider as the escalator to pips...as can be illustrated on the gbp and eur...the eur usd and eur jpy had nice almost set ups...but the stoch rope on the 5 minute didnt go above the fifty level or touch it at all for me to consider entering...

Paul

These just posted are basically what I look for in countertrend trades but need to see for sure over the future if the 15 can be oversold/overbought or if it HAS to be trending with the 1 hour and 30 minute and possibly if its o/b or o/s than may HAVE to have the 4 hour moving in that direction with 1 hour and 30 minute also...will see....and I'm off to work...oh and I also took a buy last night on the eur usd that turned out to be break even....


Paul