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Awesome Trading (New way to trade the 4h)

  • #41
  • Jun 22, 2008 10:55am Jun 22, 2008 10:55am
Does it re-paints?.. Awesomeman, some replies to that are expected...a). but if it does,... say, the colours light a signal,.. we make an entry,.. the next candle appears.. the colours change... trend goes opposite... no further arguing on win-loss ratio,.. 'cause there might be no more trade b). 'cause if it does.. the indies aren't reliable... and it's 4H chart for 'Pips' sake, how much longer should i wait for the next signal... c). and if it does repaints... they're not worthy.PS: they would absolutely worthed if they don't repaints.
  • #42
  • Jun 22, 2008 1:02pm Jun 22, 2008 1:02pm
Quoting RaR
Does it re-paints?.. Awesomeman, some replies to that are expected...a). but if it does,... say, the colours light a signal,.. we make an entry,.. the next candle appears.. the colours change... trend goes opposite... no further arguing on win-loss ratio,.. 'cause there might be no more trade b). 'cause if it does.. the indies aren't reliable... and it's 4H chart for 'Pips' sake, how much longer should i wait for the next signal... c). and if it does repaints... they're not worthy.PS: they would absolutely worthed if they don't repaints.
Yes they repaint!

Think about this logically - they have to repaint. There are 4 rows of squares, and a column of squares for each 4H bar. The square at the top is not a monthly square, it is merely showing that on the current 4H bar the monthly trend is up or down. Roll on 3 weeks - if the monthly trend has now changed, then the square you are looking at today will also have changed colour.
  • #43
  • Jun 22, 2008 1:49pm Jun 22, 2008 1:49pm


Quoting lesaurus
I have used the mtf stochastic method before and find it quite effective, in escence all it is doing is stacking the odds in your favour.
  • #44
  • Jun 22, 2008 1:52pm Jun 22, 2008 1:52pm
dudes do google searches for "steinitz forex" and you will find boatloads of info on this type of trading.

there was a HUGE drawdown last year and lot's of people (who thought they found the grail) were pissed off something fierce. just look for "steinitz" at forex-tsd...

all that glitters isn't gold... but i think this is a great thread. thanks for sharing your work.
  • #45
  • Jun 23, 2008 11:26am Jun 23, 2008 11:26am
I'm wondering if "Awesome Man" IS Don Steinitz. He was banned from the forums he was in because his system was full of flaws and he was dishonest and a scammer. Don't use his system or his EA. It's entirely possible he simply changed his username to this "Awesome Man" as he did have a very high opinion of himself. We will see where this thread goes.
  • #46
  • Jun 23, 2008 12:19pm Jun 23, 2008 12:19pm

:: the funny thing is that "Heiken Ashi Smoothed" is totally WRONG coded!! I did a search for this indicator, even postings 2 years back, they all have the same mistakes, even some Hull MA's have that problem.

:: the faults (on chart) are visual & also in performance, I remember that Steinitz had computer processing issues while back testing... & even terminal freezes while multiple time frame checking at the same time.

:: I saw many "pro-coders" supporting him in his conquest, I don't understand why nobody (pro-coders) saw such mistakes.

Well... Rome was not build in one day!
Good luck

  • #47
  • Jun 23, 2008 12:48pm Jun 23, 2008 12:48pm
Quoting Dreamliner
I'm wondering if "Awesome Man" IS Don Steinitz. He was banned from the forums he was in because his system was full of flaws and he was dishonest and a scammer. Don't use his system or his EA. It's entirely possible he simply changed his username to this "Awesome Man" as he did have a very high opinion of himself. We will see where this thread goes.

u are absolutely right,for all who read about this guy "money management" pls don't follow that, even if u had full loaded money on ur warehouse u'll down soon or earlier.....

just notice that no matter what ,we got to try to put ourself just one step ahead today,only one step! (greedy is the worst enemy)

been there,lol i know how it feel to lost all the money i had less than 1 day.

anyway put 80% of ur money is not an options.

here read this :"Forex Trading Strategy 10 pips by Rob Booker"

this man will save u...alot
Attached File(s)
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  • #48
  • Jun 23, 2008 1:04pm Jun 23, 2008 1:04pm
Quoting Dreamliner
I'm wondering if "Awesome Man" IS Don Steinitz. He was banned from the forums he was in because his system was full of flaws and he was dishonest and a scammer. Don't use his system or his EA. It's entirely possible he simply changed his username to this "Awesome Man" as he did have a very high opinion of himself. We will see where this thread goes.
He doesn't sound like Steinitz. He writes differently.
I think if Steinitz ever tried to make a comeback, he'd have a new batch of indicators. Something that won't work, but with a new coat of paint.
  • #49
  • Jun 23, 2008 2:14pm Jun 23, 2008 2:14pm
Whatever it be I will give a try and in demo first . Nobody knows what a perfect strategy to win & win only.own money own money management in own way whatsover right or wrong & just trying others strategy at times.
Downloaded all indicators .
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #50
  • Jun 23, 2008 4:34pm Jun 23, 2008 4:34pm
Mathematically, Awesome Man is right. A positive expectancy system ought to eventually perform regardless of percent risked as long as percent of equity risked is the same each time. Chaos theory would tell us that the bad conditions that drew down our account catastrophically would restore it just as drastically, provided the expectancy projections were accurate. The hope is that you would encounter the good conditions before you encounter the bad ones. Few traders would have the psychological cojones to withstand that kind of drawdown and keep plugging away. Perhaps the best way to trade this sort of expectancy is to split it into several accounts with different risks per trade. That way you have the potential of massive profits, but the psychological safety of sane risk in other accounts. I have two accounts, the larger of which I trade at 5% risk per trade, and the small one at 15-20% risk per trade. I tripled the small one last week. Its interesting; the larger your risk, the more picky you become on trades. Trading the small account at high risk has greatly improved my patience and accuracy, but I have to have the psychological safety net of my larger account to do it.
  • #51
  • Jul 31, 2008 4:37pm Jul 31, 2008 4:37pm
Quoting AwesomeMan
These rules work great on GBP/JPY. This is the only pair I trade, because I figured out money management that worked. In theory, any pair could be, but this is what I do.

I open up 5 different parts:

Parts 1 and 2 - 50 pip TP, 100 pip SL

Part 3 - 100 pip TP, 100 pip SL

Parts 4 and 5 - 225 pip Trailing Stop, 100 pip SL initially, but when part 3 triggers, then move SL to Breakeven +1 (just +1)

If you ever have a trade running that the daily switches back against the trend after you entered (For example, blue to red on an uptrend entrance, red to blue on a downtrend), then get out there. I would be surprised if this happened without your SL triggering.

What happens, why does this work?!?

Possible outcomes:

1) -500 pips. Yah. -500. Work with me.
2) 50 pips hit, so +100. After this, rest go down to -100, and we get -200 pips
3) If we get to 100, then we are home free. We are at the two +50's for +100, and then we are at the +100 for part 3. ALSO, parts 4 and 5 are moved up to +1, so right now we are GUARANTEED +202 pips on a trade that gets to 100

But, what about the R:R ratio?!?! Oh noes!!! it's so high. Well, look again. With this system, I have had 2 -500 pip moves in the past 7 years. THE PAST 7 YEARS. It doesn't happen often, and when it does, we recover. The reason this system works is that after step 3, we are guaranteed profit. And chances are, if it is going up, it will keep going up. On typically half of the trades, I make 200-1000 more pips from parts 4 and 5 of the trade. Backtesting (before I started live trading), I was at +17,607 pips (counting the +8 spread) and at -1900 pips. That gives me a R:R of almost 9:1.

These signals don't come often, but when they do, they do. In the past 7 years, there have been 35 signals. 30 of those have been winners. 5 have been losers. 2 have been -500. 12 of them were above 500 pip moves if we follow the system. 1 of them was 1200, and one of them (biggest move in my life) was 2100 pips. I typically trade very strangely. I know I am going to get yelled at. But I trade risking 80% of my account every trade. That is, if it goes -500, I lose 80% of my account. Big woop. Trading this system mechanically, you still recover, and I have even found that 80% is the biggest margin for profit returns with a 6:1 win loss ratio. Try it out, risk less, that is fine. Going for 20% works great. The thing is, an 80% loss will never make you get a margin call. It will never blow your account. It will leave you with 20% of what you had before. Just stick to the system, and you will win.
Hi Awesome,
Can you explain i bit more your Monoey Management (above quote) for ordinary people like me?
Thanks and you definetly have a fantastic system.
-Vivi
  • #52
  • Jul 31, 2008 5:19pm Jul 31, 2008 5:19pm
The indicators which you posted are not working for me. Could you plese post the template with all the indicators ?
  • #53
  • Jul 31, 2008 6:02pm Jul 31, 2008 6:02pm
this is a very good trading system but anyway Don steiniz used it about 2 years ago.

nothing years
  • #54
  • Aug 5, 2008 6:52am Aug 5, 2008 6:52am
quote=
With different risk models starting with 100,000 USD, assuming we make 500 pips with a 400 pip loss on average with a 5:1 win loss ratio over the past 8 years:

5% risk: 276,113 USD multiplied the account by about 3 in 8 years (1.15% monthly returns)
10% risk: 714,093 USD multiplied the account by 7 in 8 years (2.05% montly returns)
20% risk: 3,989,565 USD multiplied the account by 30 in 8 years (3.61% montly returns)
50% risk: 196,353,084 USD multiplied the account by 2,000 in 8 years (8.24% monthly returns)
80% risk: 1,454,955,016 USD multiplied the account by 14,000 in 8 years (10.5% montly returns)
99% risk: 947,276,773 USD multiplied the account by 9,500 in 8 years (10.0% monthly returns)

All of this IS about compounding. I really don't understand why we wouldn't want to trade with a 50+% risk. I CAN see that in the upper levels, profit does start to come down, so there IS a maximum level. But, by my calculations, this is a conservative calculation and risk level. Please reply, I appreciate criticism if it makes me understand things.[/quote]

I see your emphasis on MM (All of this IS compounding). Yes, it is all about it!
Yours is a great simple approach with lots os weightage on the MM rather on th strategy. I like this shift. In this thinking, we give precedence to MM than to the trading strategy. It is good indeed!
-Viv
  • #55
  • Aug 5, 2008 7:53am Aug 5, 2008 7:53am
Quoting Andy B
The same problem with the lower timeframes I think. On a 30M chart the 4 HAS TFs would be 30M, 1H, 4H and Daily; the top row of bars could potentially repaint 48 bars (as there are 48 30M bars in a daily bar)

Andy
Andy, your observation that the daily bar is repainted 48 times before it is finalized is correct but unreasonably over-emphasised!

1.Every time the latest 30-min chart is picked up for the calculation of the daily bar, the oldest 30-min bar is dropped off from the calculation.

2. The difference between the latest 30-min bar and the oldest 30-min bar is going to have an effect on the daily bar. I agree with you on this truth.

3. But, first of all, this difference could be too small to change the color of the daily bar. Remember, we are not worried about the actual, accurate value of the daily bar. We are just interested with its color.

4. This difference between the latest 30-min bar and the oldest 30-min bar, and its effect is further becomes neglegible if you consider that there are other 46 bars in between that have major control on the daily bar as it (the effect) spread all over the latest 48 bars.
Exmple:
(i) 48 bars (30-min bars) sums up to 1176,
(ii) Daily bar is SMA of this. It value comes to 1176/48 = 24.5.
(iii) If we change the value of the 48th bar down by 1, then the Daily bar value changes to 1175/48 = 24.479161.
(iv) If we change the value of the 48th bar up by 1, then the daily bar value changes to 1177/48 = 24.544166.
(vi) Also note that all the 'HAS' bars are calculated in such a way as to reduce the noise in the calculation.

5. Now, how much of this miniature change could effect the color of the daily bar?

6. And, even assuming it changes the color of the daily bar, as a trader how much do you depend upon its (daily bar's) color change? Its color is just a guidence to you to see the direction......

Conclusion: Even though there is truth in this observation that the bars are repainted, its effect on the daily bar to change the bar's color is insignificant and, if it really makes the change (chages the color of the daily bar), we should not be so much concerned as it (the daily bar) is just a guidence to trader about the trend.
-Viv
  • #56
  • Aug 6, 2008 10:44am Aug 6, 2008 10:44am
Quoting balouf
Hi,
I look for someone who can build a dashboard like the example below with the moving average.
It would be nice to have a summarize with the trend by each timeframe for each currencypairs.
What do you think?
Can someone help us?
Thank!
Hi,
The indicator that you have posted along with your above reqest (TRO_Dashboard.mq4) itself seems to serve your requirements!!! What else are you looking for?
I like this indicator. Can you post some different ways of using this indicator in trading? I am very much interested to learn more.
Thank you.
-Vivi
  • #57
  • Aug 6, 2008 10:52am Aug 6, 2008 10:52am
Quoting In10tion

:: the funny thing is that "Heiken Ashi Smoothed" is totally WRONG coded!! I did a search for this indicator, even postings 2 years back, they all have the same mistakes, even some Hull MA's have that problem.



:: the faults (on chart) are visual & also in performance, I remember that Steinitz had computer processing issues while back testing... & even terminal freezes while multiple time frame checking at the same time.



:: I saw many "pro-coders" supporting him in his conquest, I don't understand why nobody (pro-coders) saw such mistakes.



Well... Rome was not build in one day!


Good luck

If you see the HAS is wrong coded, abviously you know programming. Is it possible for you to correct it and post the corrected version of it? We appreciate your help.
-Viv
  • #58
  • Sep 25, 2008 11:56am Sep 25, 2008 11:56am
Awesomeman,
How is your system doing?
I do not see any activity in this group. Have we lost interest in this strategy?
Viv
  • #59
  • Last Post: Oct 30, 2011 11:43am Oct 30, 2011 11:43am
Hi there,
Wondering why awesome disappeared!. No matter what, a core of the forex chart trading is with MTF's co-relation and the other is with currency co-relations. I've figured out the latter and am about to finilise the former. I think the error was in his stating rather over stating the amount bid on one trade. But that was just theory. Inpractise, i myself have bid good percentage of my account size on single trades and the results have been great. One just needs to monitor throughlly such large trades and all is well.
In10tion : could u correct the HAS indi please? Also describe what exactlly the error is? Maybe I'll pm u later on this. This indi is being used in a lot of places on the forum.
As for the rest, God only knows what happened. There is another mtf HA indi somewhere on the forum and I'll try to find it and see.
Regards, McNish.
There is no such thing as LUCK ! Chance favors the prepared mind.
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