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Attachments: On My Way To The Top
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On My Way To The Top

  • #1,061
  • Nov 11, 2011 11:36am Nov 11, 2011 11:36am
so despite all the movement today...the only trade I took today was the usd chf...with a 12 pip stop and I ended up taking profits at about 87 pips... so R:R of 7.25 which is 14.5% and that is it for the day...I'm closing down my platform and that is it for me... so I think total for the week is 54.5% or something like that.... sigh...this week was another interesting week...I guess what people say about the holiday times are correct eh...or maybe its just all the fundamentals and potential global economic meltdown causing the markets to be as it has been...but anyway next week is a new week to start anew...happy trading to all......
Attached Image (click to enlarge)
Click to Enlarge Name: usd chf.gif Size: 39 KB
No man is free who is not a master of himself. -P.M.-
  • #1,062
  • Nov 11, 2011 11:56am Nov 11, 2011 11:56am
hi pmullin86, M_j!

I want to thank both of you for taking the time to respond to my questions.

Thanks
Ati
Money is important, Love is essential.
  • #1,063
  • Nov 11, 2011 12:26pm Nov 11, 2011 12:26pm
Quoting Ati Baia
hi pmullin86, M_j!

I want to thank both of you for taking the time to respond to my questions.

Thanks
Ati
Your welcome
No man is free who is not a master of himself. -P.M.-
  • #1,064
  • Nov 11, 2011 12:28pm Nov 11, 2011 12:28pm
Quoting pmullin86
so despite all the movement today...the only trade I took today was the usd chf...with a 12 pip .
hi,

juast a couple of questions:

1.was that a regular SL or 50% one?

2. was this trade a 'Valid trade' according to your system? (just a question - it surely worked out nicely)
D1 seems to be in overbought, H1 heading down



Congratulation - you had a couple of real nice weeks.
__Thanks__ MJ
  • #1,065
  • Nov 11, 2011 1:16pm Nov 11, 2011 1:16pm
Quoting M_j
hi,

juast a couple of questions:

1.was that a regular SL or 50% one?

2. was this trade a 'Valid trade' according to your system? (just a question - it surely worked out nicely)
D1 seems to be in overbought, H1 heading down




Congratulation - you had a couple of real nice weeks.
In this particular instance the 50% stop loss would have been hit but I believe from what I'm seeing so far it works best with the actual trending entries and such...and this was a valid trade per the Countertrend trade rules with the ema's stacked to the downside and the 15,30,60,240 all down with the ropes supporting a sell off pretty nicely and than the 5 minute got me in where it did...and the mtf were stacked with the 30 above the 15 and then where I entered price had just broke below the 60 minute 50 period ema...and the ema's on the higher time frames is the reason I didn't get in a buy on the eu, gu, au, or nzu...but this was perfect with the next moving average being the 4 hour ema which was where I ended up taking profits...


Thanks I'm very fortunate to be trading a method that seems to work for me and fits my style and everything....Hopefully I am able to be consistent over the long haul...even if its just making 2% a day over an extended period of time, I will be very grateful for that as well....I'm happy to have this weird period of a market that we have been having as its just another market condition to add to my experiences and again very fortunate to have made it out on the winning side for the week...
No man is free who is not a master of himself. -P.M.-
  • #1,066
  • Edited 4:34pm Nov 11, 2011 4:24pm | Edited 4:34pm
jokes on me I guess...I said earlier there were no other entries but it turns out I should have been long on the eur usd but I would have taken profits at 4%...pretty much the exact set up as usd chf but the opposite...grrrr...but oh well the market isn't going anywhere...
No man is free who is not a master of himself. -P.M.-
  • #1,067
  • Nov 11, 2011 11:04pm Nov 11, 2011 11:04pm
The question was asked the other day as to whether or not I watch the charts actively or if I have signal indicators or whatever the case may be well here are picture examples of signal alerts that I have set up on my computer for the bsb (first alert window) and second and third windows are two different ctt combinations...so once I get the alert to my phone whether I'm asleep or whatever I'm doing I will than of course come to the computer and see if the situation is ideal for a possible set up anytime in the near future and if so than wait around for criteria to be met to enter a position (look at the ropes on different time frames, see positions of different stochastics, check if trading into support or resistance or trading off of support/resistance or whatever the case may be and than of course wait for the entry on whatever time frame being traded....signal indicators (alerts) are just that in which they alert of a "POSSIBLE" set up but not really an actual entry at that given time... example...I'm uploading a pic of the usd chf from today in which I took a short entry....and one can look at this pic and see where the alerts would have helped draw my attention to the chart before I made the decision that everything was right at that time for me to open my short position... (so from the alerts on that chart its easy to see there was a confluence of the bsb stochastics supporting a sell as well as both sets of stochastics used for countertrend trades also supporting the sell...which is indicative of basically a pretty nice set up..bsb plus ctt plus bouncing off stacked moving averages or a pivot or any kind of support or resistance level...you really can't ask for anything more as far as a set up goes...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eur usd signals.gif Size: 41 KB
Click to Enlarge Name: gbp usd signals.gif Size: 37 KB
Click to Enlarge Name: usd chf signals.gif Size: 38 KB
No man is free who is not a master of himself. -P.M.-
  • #1,068
  • Edited 6:34am Nov 12, 2011 12:20am | Edited 6:34am
Very informative.

Would you mind, posting these Alert indicators as it seems you have tested them.

Thanks
Ati
Money is important, Love is essential.
  • #1,069
  • Nov 12, 2011 8:13am Nov 12, 2011 8:13am
Quoting Ati Baia
Very informative.

Would you mind, posting these Alert indicators as it seems you have tested them.

Thanks
Ati
This post has the indicator but the others you will have to visit MJ's thread...
http://www.forexfactory.com/showthre...68#post4771668

MJ's indicator thread
http://www.forexfactory.com/showthread.php?t=285687
No man is free who is not a master of himself. -P.M.-
  • #1,070
  • Nov 12, 2011 11:18am Nov 12, 2011 11:18am
thanks a lot pmullin86.

May I bother you once more: which of MJ's Alerter is the one you tested and use: maybe any names?

Cheers and a successful next week to you.
Ati
Money is important, Love is essential.
  • #1,071
  • Nov 12, 2011 11:38am Nov 12, 2011 11:38am
Hello,

I just want to get more of your thought process in taking the trades you posted in post #1041. After analyzing the rope on the different time frames, I can't come up with a confirming reason to buy the gbpusd at that point. I have posted what the last close of the rope would be at the time of the trade.

Thanks
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gpbusd 30 min.jpg Size: 149 KB
Click to Enlarge Name: gpbusd 60 min.jpg Size: 145 KB
Click to Enlarge Name: gpbusd 4r min.jpg Size: 129 KB
Click to Enlarge Name: gpbusd daily min.jpg Size: 138 KB
  • #1,072
  • Nov 12, 2011 1:50pm Nov 12, 2011 1:50pm
Quoting Ati Baia
thanks a lot pmullin86.

May I bother you once more: which of MJ's Alerter is the one you tested and use: maybe any names?

Cheers and a successful next week to you.
Ati
@AL2STOkMTF3MAPrice_0.00.ex4 is what I have tested and used consistently so far...I've played around with the newer stuff but not really used extensively....
No man is free who is not a master of himself. -P.M.-
  • #1,073
  • Nov 12, 2011 2:03pm Nov 12, 2011 2:03pm
Quoting K-Kay
Hello,

I just want to get more of your thought process in taking the trades you posted in post #1041. After analyzing the rope on the different time frames, I can't come up with a confirming reason to buy the gbpusd at that point. I have posted what the last close of the rope would be at the time of the trade.

Thanks

not sure what my thinking was but from what I can see in this picture and what I believe I remember of this entry is ...the daily stochastic is up so the trend is up and than the mtf moving averages are all stacked for a buy and sloped up for some nice support so I took the entry with the 15 minute rope tightly converged closing up from oversold...
No man is free who is not a master of himself. -P.M.-
  • #1,074
  • Nov 12, 2011 2:15pm Nov 12, 2011 2:15pm
Quoting Ati Baia
thanks a lot pmullin86.

May I bother you once more: which of MJ's Alerter is the one you tested and use: maybe any names?

Cheers and a successful next week to you.
Ati
I would urge you to really try and understand any strategy or system first in its entirety as far as the different aspects of the approach and a good understanding of the way the indicators are being employed before getting into alerts and such but that's just my opinion....
No man is free who is not a master of himself. -P.M.-
  • #1,075
  • Nov 13, 2011 2:17am Nov 13, 2011 2:17am
Quoting pmullin86
And now here are examples of just the MTF stochastics lining up for a trade entry with no other indies but mma for visual and I still always set my trades to break even after ten pips so I can enjoy stress free trades which usually have little drawdown...so that way the risk to reward is to my liking...these set ups are just the first part now when you take this with divergence and off of a support or resistance zone than you increase the percentage of an edge that is already highly in your favor...
Hi pmullin86,

I saw your stochastic indicator overlapped with different timeframe as shown in the attachment.
Do you mind to share with me on how so set that?
Attached Image
  • #1,076
  • Nov 13, 2011 6:37am Nov 13, 2011 6:37am
Quoting pmullin86
...and this was a valid trade per the Countertrend trade rules with the ema's stacked to the downside and the 15,30,60,240 all down with the ropes supporting a sell off pretty nicely a.
I understand your trading reason but I'm a bit unclear about your definition - so I would like to understand it better.


Basically: your Counter Trend trades: are defined when you trade in the opposite direction of the D1 STO? ( I know compared to the Trend continuation trades other STO must be pointing in the trade direct)

But I try to figure out when do you call a trade a Counter Trend:

1. opposite Direction than what D1 STO points too

2. What about the the MA stack: Don't you trade sometimes against the MA stuck and call that also Counter Trend ?
__Thanks__ MJ
  • #1,077
  • Nov 13, 2011 7:25am Nov 13, 2011 7:25am
Quoting M_j
I understand your trading reason but I'm a bit unclear about your definition - so I would like to understand it better.


Basically: your Counter Trend trades: are defined when you trade in the opposite direction of the D1 STO? ( I know compared to the Trend continuation trades other STO must be pointing in the trade direct)

But I try to figure out when do you call a trade a Counter Trend:

1. opposite Direction than what D1 STO points too

2. What about the the MA stack: Don't you trade sometimes against the MA stuck and call that...

I call it a counter trend trade when trading against the daily. Although the stochastics in itself have shown the new short term trend so it may not be a true countertrend but I just call it that because its going against the daily per the rules for my approach to trade with the trend and it may be with the moving averages or against it but still considered countertrend since going against the daily which is the overall trend in my eyes...
No man is free who is not a master of himself. -P.M.-
  • #1,078
  • Nov 13, 2011 7:28am Nov 13, 2011 7:28am
Quoting khntb
Hi pmullin86,

I saw your stochastic indicator overlapped with different timeframe as shown in the attachment.
Do you mind to share with me on how so set that?

Hmmm I'm horrible at explaining things in a simple manner but I will try....Basically you just open up your navigator window and add the first mtf stoch and set whatever time frame you want for the first one and than to overlap any others you would from the navigator window that is open just drag and drop the mtf stochastic indicator into the now created subwindow and set whatever time frame you want and continue for any other mtf stochastics you wish to overlap in that sub window...
No man is free who is not a master of himself. -P.M.-
  • #1,079
  • Nov 13, 2011 7:34am Nov 13, 2011 7:34am
Quoting pmullin86
@AL2STOkMTF3MAPrice_0.00.ex4 is what I have tested and used consistently so far...I've played around with the newer stuff but not really used extensively....
Thanks.

Quoting pmullin86
I would urge you to really try and understand any strategy or system first in its entirety as far as the different aspects of the approach and a good understanding of the way the indicators are being employed before getting into alerts and such but that's just my opinion....
pmullin86, Thanks for your advice. You are right. I mainly asked because MJ wrote somewhere that a number of his alerts indicator might have errors - so I was interested which one you use.
Money is important, Love is essential.
  • #1,080
  • Nov 13, 2011 7:39am Nov 13, 2011 7:39am
Quoting Ati Baia
Thanks.



pmullin86, Thanks for your advice. You are right. I mainly asked because MJ wrote somewhere that a number of his alerts indicator might have errors - so I was interested which one you use.
Oh ok thanks for clarifying...
No man is free who is not a master of himself. -P.M.-
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