Hello Traders
This is my first post in FF, so go easy on me
first thank you X-Man for this nice strategy, looking forward to implement it and i want to share with you a little addition to the system
as X-Man said i went to read Malon's work and he had a little hint that might be in handy with all newbies like my self
in his charts he add two moving averages
(1) 5-SMA shift 0 price low
(2) 5-SMA shift 0 price High
These two moving average form a Band around the 4-EMA (shift 2) that we use in X-Man Charts ... so according to the place of the 4-EMA in this band we can see if the trend is going to be strong or not
in long position the best setup is when the 4-EMA is below to the the lower band (which is the Low 5-SMA)or near to the bottom quarter of the band, and in the Short position the best setup is when the 4-EMA is above the higher Band (which is the High 5-SMA) or near to the Top quarter of the band
this rule make your trading more conservative so i guess you can apply it to the 15m charts when you decide to enter the trade for reassuring
another thing from observation ... when you enter a trade the best setupt is when the Synrgy candles closes above or below the band
so in a long position you want to see a candle that is closed above the higher Band (which is the High 5-SMA), and in short Position you want to see a candle that is closed below the lower band (which is the Low 5-SMA)
Again i think this rules are conservative, so i guess you use it when you decide to enter a trade and check these rules in a lower time frame (for example 15m)
i attached the 15m chart for the trade in the UK open (28th November) the one that we went short and hit SL and the one that we should have taken Long
the first candle which is the 8:45 in my chart is the last one we saw and we should entre after it and it was quite risky to enter short in it as the candle didn't close below the Band and the band was inside the channel (both conditions are not met)
and the 2nd one is the of 10:45 and it was promising as both conditions are met
again it is just an observation that i actually find Handy and i will use ... and i thought why not sharing (if it wasn't for BigE and X- Man sharing we wouldn't be here in the first place)
Thank you again x-Man for the nice thread .. keep the pips coming Man
This is my first post in FF, so go easy on me
first thank you X-Man for this nice strategy, looking forward to implement it and i want to share with you a little addition to the system
as X-Man said i went to read Malon's work and he had a little hint that might be in handy with all newbies like my self
in his charts he add two moving averages
(1) 5-SMA shift 0 price low
(2) 5-SMA shift 0 price High
These two moving average form a Band around the 4-EMA (shift 2) that we use in X-Man Charts ... so according to the place of the 4-EMA in this band we can see if the trend is going to be strong or not
in long position the best setup is when the 4-EMA is below to the the lower band (which is the Low 5-SMA)or near to the bottom quarter of the band, and in the Short position the best setup is when the 4-EMA is above the higher Band (which is the High 5-SMA) or near to the Top quarter of the band
this rule make your trading more conservative so i guess you can apply it to the 15m charts when you decide to enter the trade for reassuring
another thing from observation ... when you enter a trade the best setupt is when the Synrgy candles closes above or below the band
so in a long position you want to see a candle that is closed above the higher Band (which is the High 5-SMA), and in short Position you want to see a candle that is closed below the lower band (which is the Low 5-SMA)
Again i think this rules are conservative, so i guess you use it when you decide to enter a trade and check these rules in a lower time frame (for example 15m)
i attached the 15m chart for the trade in the UK open (28th November) the one that we went short and hit SL and the one that we should have taken Long
the first candle which is the 8:45 in my chart is the last one we saw and we should entre after it and it was quite risky to enter short in it as the candle didn't close below the Band and the band was inside the channel (both conditions are not met)
and the 2nd one is the of 10:45 and it was promising as both conditions are met
again it is just an observation that i actually find Handy and i will use ... and i thought why not sharing (if it wasn't for BigE and X- Man sharing we wouldn't be here in the first place)
Thank you again x-Man for the nice thread .. keep the pips coming Man
if you are of part of the solution then you are part of the problem
. Btw how has starting 2 hours before london open gone for everyone? I know X-Man starts then but I want to see how everyone else is doing? I start an hour before london open but most of the time have to wait till London opens before a clear signal is given.
