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"Katana Trading Strategy"

  • #281
  • Dec 30, 2011 3:49am Dec 30, 2011 3:49am
No such problem on EJ, trending nicely, notice how price today has bounced between xx50, xx25 and xx00...
Attached Image (click to enlarge)
Click to Enlarge Name: katana chart 128.jpg Size: 288 KB
  • #282
  • Dec 30, 2011 3:53am Dec 30, 2011 3:53am
Quoting jmflukeiii
they didn't, but apparently its an issue to post links to free things.
It is not an issue to post links to free things. They are a scam, as confirmed by Forex Peace Army and many other internet postings, and are distributing it illegally, from a Post Office address in Italy, so are hard to track down, again typical of a scam. They did not create the script, as can be confirmed by going to mqlservice.com and finding their shop, where the source code is also available. Anyone distributing this is complicit in an illegal activity. Anyone thinking that it's okay to take it for free because it's only an issue for the copyright holder and not for the consumer is morally bankrupt.

As responsible, self-respecting traders we are all under a moral obligation to appreciate the work carried out by our fellow traders and coders, much of which is given away free on FF and other forums. By the same token, we are obliged to pay for material provided for a fee by anyone who makes his living from assisting us in trading profitably. I believe that Michal has produced a valuable tool which is clearly better than any free range bar indie and which, coupled with range bar strategies like Musashi's, can make many FF members into profitable traders.
The dream will never die
  • #283
  • Dec 30, 2011 4:07am Dec 30, 2011 4:07am
I have been watching this AU for most of the session, as you can see it's in trending mode, and has supplied two potential trading opportunities after pull backs where identified, however I didn't trade this pair today.
Attached Image (click to enlarge)
Click to Enlarge Name: katana chart 129.jpg Size: 138 KB
  • #284
  • Dec 30, 2011 5:01am Dec 30, 2011 5:01am
Here is a picture off my try to build this setup.

instead off 3 indis to show trend, I just have 1

Red= down
Green= up
Yellow= no trend

then I will also see if Gann hi/lo can help

Peter
Attached Image (click to enlarge)
Click to Enlarge Name: peter eu.jpg Size: 133 KB
  • #285
  • Dec 30, 2011 5:22am Dec 30, 2011 5:22am
Quoting fratelli
Here is a picture off my try to build this setup.

instead off 3 indis to show trend, I just have 1

Red= down
Green= up
Yellow= no trend

then I will also see if Gann hi/lo can help

Peter
Looks good mate, nice work.

  • #286
  • Dec 30, 2011 5:29am Dec 30, 2011 5:29am
GU started a trend now... just waiting for a valid retracement to be signalled before looking to enter this one long..
Attached Image (click to enlarge)
Click to Enlarge Name: katana chart 130.jpg Size: 226 KB
  • #287
  • Dec 30, 2011 5:49am Dec 30, 2011 5:49am
Quoting Musashi
GU started a trend now... just waiting for a valid retracement to be signalled before looking to enter this one long..

Hi I took a small trade long on the break off res. area.

I know the retracemant was not huge, but anyway took the chance.

Peter
Attached Image (click to enlarge)
Click to Enlarge Name: peter cable.jpg Size: 108 KB
  • #288
  • Dec 30, 2011 5:56am Dec 30, 2011 5:56am
Quoting fratelli
Hi I took a small trade long on the break off res. area.

I know the retracemant was not huge, but anyway took the chance.

Peter
Yes the problem sometimes when waiting for a retracement, none is coming....

In a strong trend, buying the breaks of resistance levels is a valid strategy.. I have learned patience now and I know a retracement will happen at some point so I wait..
Attached Image (click to enlarge)
Click to Enlarge Name: katana chart 132.jpg Size: 135 KB
  • #289
  • Dec 30, 2011 5:59am Dec 30, 2011 5:59am
Looking at the EJ chart it's possible a short continuation setup could be setting up right now..
Attached Image (click to enlarge)
Click to Enlarge Name: katana chart 133.jpg Size: 300 KB
  • #290
  • Dec 30, 2011 12:31pm Dec 30, 2011 12:31pm
Normally I don't trade this late on a Friday, but I couldn't help it with this excellent setup.
Attached Image (click to enlarge)
Click to Enlarge Name: $EURUSD (5 Range) 12_30_2011.jpg Size: 187 KB
Small disciplines repeated with consistency lead to great achievements.
  • #291
  • Dec 30, 2011 2:00pm Dec 30, 2011 2:00pm
Quoting jmflukeiii
Normally I don't trade this late on a Friday, but I couldn't help it with this excellent setup.
Nice work, looking at the EJ chart a perfect continuation setup and plenty of room to make money, this move occured after I went to bed.
Attached Image (click to enlarge)
Click to Enlarge Name: katana chart 134.jpg Size: 184 KB
  • #292
  • Dec 30, 2011 2:03pm Dec 30, 2011 2:03pm
Quoting Musashi
Nice work, looking at the EJ chart a perfect continuation setup and plenty of room to make money, this move occured after I went to bed.
Thanks. I only really trade EU. There's been lots of movement this late friday session.

I'm not a huge fan of buying the breakouts as was mentioned earlier. In fact
95% of the time I'm trading the opposite direction on any potential breakouts.

By the way, are all your trend filters stochastics? I use CCI for pretty much everything so that's what mine are. I just edited them so that at a certain threshold they change color again to indicate potential end of trend reversal (which actually the only thing I use them for on my other charts)
Small disciplines repeated with consistency lead to great achievements.
  • #293
  • Dec 30, 2011 2:19pm Dec 30, 2011 2:19pm
Quoting jmflukeiii
Thanks. I only really trade EU. There's been lots of movement this late friday session.

I'm not a huge fan of buying the breakouts as was mentioned earlier. In fact
95% of the time I'm trading the opposite direction on any potential breakouts.

By the way, are all your trend filters stochastics? I use CCI for pretty much everything so that's what mine are. I just edited them so that at a certain threshold they change color again to indicate potential end of trend reversal (which actually the only thing I use them for on my other charts)
Considering the low liquidity levels, the market has given us some good moves these last two days.

As you can see the combination of moving averages and stochastics is of great benefit in keeping you out of trades when the market is in congestion, and does a good job when the market trends.

It's the congestion areas on the chart that you want to look at and study for reason not to trade.

edit : Yes I'm only using stochastics, CCI and RSI and all the other oscillators basically give the same information. It's totally up to you what indicators you use.

As long as you use something to determine trend, and whatever you do, trade with the trend... it increases the probability of a successful trade greatly.
Attached Image (click to enlarge)
Click to Enlarge Name: katana chart 135.jpg Size: 220 KB
  • #294
  • Dec 30, 2011 2:24pm Dec 30, 2011 2:24pm
Quoting Musashi
Considering the low liquidity levels, the market has given us some good moves these last two days.

As you can see the combination of moving averages and stochastics is of great benefit in keeping you out of trades when the market is in congestion, and does a good job when the market trends.

It's the congestion areas on the chart that you want to look at and study for reason not to trade.
I trade those, but much differently. I love reversing throughout congestion areas and at peaks throughout the trend. I'm going to have this chart up also to give me another perspective and another option for trading with the longer trend, maybe get a few 20 or 30 pip trades instead of 15 1-5 pip trades.

Anyway, here's a couple charts with my CCI exit strategy. Not trying to change anything, just food for thought. I didn't trade these, just going back over the past day and half.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: example 5.jpg Size: 183 KB
Click to Enlarge Name: example1.jpg Size: 177 KB
Click to Enlarge Name: example 3.jpg Size: 177 KB
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Small disciplines repeated with consistency lead to great achievements.
  • #295
  • Dec 30, 2011 2:35pm Dec 30, 2011 2:35pm
EU chart, as you can see the trend filters did a good job of preventing any trades, once a trend was identified, and a pull back occured prices went below the moving averages, typical of what happens in a ranging market, hence the reason why no trade is signalled.
Attached Image (click to enlarge)
Click to Enlarge Name: katana chart 136.jpg Size: 235 KB
  • #296
  • Jan 1, 2012 4:53pm Jan 1, 2012 4:53pm
Happy New Year everyone, doubt it's worth trading today. The whole world is on holidays !!!
  • #297
  • Jan 1, 2012 5:03pm Jan 1, 2012 5:03pm
The only pair I would consider trading if I did trade, it would be EJ...
Attached Image (click to enlarge)
Click to Enlarge Name: katana chart 137.jpg Size: 325 KB
  • #298
  • Jan 1, 2012 6:39pm Jan 1, 2012 6:39pm
That's a sell signal on EJ right here... not recommended to trade today though...
  • #299
  • Jan 1, 2012 9:13pm Jan 1, 2012 9:13pm
Price reached xx50 level...
Attached Image (click to enlarge)
Click to Enlarge Name: katana chart 140.jpg Size: 189 KB
  • #300
  • Jan 1, 2012 10:50pm Jan 1, 2012 10:50pm
Sent you a PM.

Peter
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