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True Trading Tactics

  • #41
  • Feb 3, 2012 10:26pm Feb 3, 2012 10:26pm
Example two above should read testing demand not supply. I have shorts on the brain today after selling NFP report.
  • #42
  • Feb 3, 2012 11:17pm Feb 3, 2012 11:17pm
Precisely, if the trades are placed based on the S/R or PPA, then we can increase the profit percentage. In other words it will be a high potential trade.

Good work Kraven.

Regards,
Te-Wies
  • #43
  • Feb 3, 2012 11:57pm Feb 3, 2012 11:57pm
Quoting kraven
dump your indicators, make your charts basic
I have long been a fan of follow the 1hr and will be interested to see where this goes. Never looked at them on such a simple level. Holy cow drop all lines from my charts ok got some homework to do.
  • #44
  • Feb 4, 2012 12:08am Feb 4, 2012 12:08am
well said sir. now that makes sense. there is a lot of price repetition if you analyze the ranges of monthly, weekly and daily candles. Ultimately this kind of analysis enables you to assess average, min and max reward to risk ratios that are available and how often they appear.

As a result this is a good way to determine how often one should trade in order to be profitable.

I think that a reward to risk ratio of at least 5:1 is more appropriate based on my experience with the market Personally i think you have some interesting ideas regarding low risk entries at support and resistance. I will definitely explore your suggestions.
  • #45
  • Feb 4, 2012 12:35am Feb 4, 2012 12:35am
back in November 2010 I asked did anyone have an indi for these bars in this post http://www.forexfactory.com/showthread.php?t=267126

I was trying to use it on a 5min chart then, I never did find one. It would make it so much easier to back test a few time frames if someone could make one now please
Money grows on the tree of persistence
  • #46
  • Feb 4, 2012 1:23am Feb 4, 2012 1:23am
You're never too old to learn and look at old concepts with a new perspective. I would agree with some comments that taking every trade blindly this method might well not be a winner but using some good old common sense it is effective.

OK first off all excuse the horrible squiggly lines at the bottom of the chart.

Each days first x trades I wouldn't take as they are too late in Asian session, would need to consider entries much earlier but I'm sleeping then.

30 Jan. The left arrow down certainly a trade and there is a continuation sell trade also. Due to time of day the arrow up would only be considered as a scalp buy (for me).

31 Jan. Arrow up certainly a buy and either way a small trade win or lose. Nice sell.

1 Feb. The initial buy was nice. Arrow down a small losing trade and the arrow up would have me looking to buy given the lower wicks. US session small loser and small winner IF you entered on small red doji to buy.

2 Feb. The thumbs down is a losing trade but would you enter after a 50 pip candle, I personally would be very cautious about that. Then 3 winning trades.

OK 4 days doesn't make a summer but you have sparked a new little twist in how I look at things. So thanks for that and good luck with your thread.
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  • #47
  • Feb 4, 2012 1:42am Feb 4, 2012 1:42am
As the OP guessed in his first post, this concept is not new. In fact, over here is an indicator I designed and had made for this exact thing:

http://www.forexfactory.com/showthread.php?t=320372

(I did NOT invent this concept, either. This indi, yes. But not the idea behind it.)
To improve is to change. To perfect, is to change often.
  • #48
  • Feb 4, 2012 4:56am Feb 4, 2012 4:56am
Quoting finnsol
Okay kraven - after applying your indicator I see it's not quite what I hoped for.
To add and subtract a half daily range to the open doesn't tell me anything.
My dream-indicator is dynamic during the day.
Should add the ADR-value to the current low of the day.
And subtract the ADR from the current high of the day.

Whenever a higher intraday-high is printed the expected low of the day is increased accordingly. The distance between current high and expected low should be constant = ADR. :nerd:

I know it sounds complicated,...
To my experience, what you asked for is exactly what this indicator does; how has your experience been since you made this post?

I don't know how you came to the conclusion that "To add and subtract a half daily range" is what this indicator does?

To me, it adds the Full ADR (not half) to the current low and draws a HIGH line, then subtracts the ADR from the current high and draws a LOW line. You can easily measure this at market open, or any time during the day actually, using the MT4 crosshairs pointer.

Depending on which way price is moving, 1 of those lines will move either up or down until it reaches the current high or low.

As stated previously, the dotted lines then change to solid line to indicate that the ADR has been met.

Regards, E.
It takes a lot for me to IGNORE you, but you can try.
  • #49
  • Feb 4, 2012 5:31am Feb 4, 2012 5:31am
Erebus: I thought the same but when i seen finn's explaination I just took it to be different from what he wanted.

Ozmacca: so you did, I never seen your post so kudos to you.

Forexhard: From what i can see your indi is different from what I and Ozmacca are after. thanks anyway.

Vantage your pic with the trades I'm trying to show on this thread
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  • #50
  • Feb 4, 2012 7:15am Feb 4, 2012 7:15am
Quoting kraven
Yonas i find taking profit is a personnal or a timely decision. my main goal is not to see a winning position turn to a loosing one. a lot of the time i take half at 1:1 and move the SL to BE, then exit the rest at the close of the next candle that's in the 'wrong' direction to the trend. But if the market moves quick i'll just ride it through moving SL to BE as quick as possible

here's the pic again marked 1 to 4..

trade 1
SL is 60 pips, the reverse candle is 100....so if we took the reverse candle as our TP then it's over 1:1.5 RR.....or if...

Thanks kraven
  • #51
  • Feb 4, 2012 7:57am Feb 4, 2012 7:57am
Quoting Erebus
To my experience, what you asked for is exactly what this indicator does; how has your experience been since you made this post?

Regards, E.
Hi Erebus

I got it all wrong?
Being weekend I haven't seen the indicator working in realtime and may
have misinterpreted the picture at the end of friday.
If it works like your very clear explanation: Wonderful!
Then it really IS the indy I have been lookong for.
Thanks for your time. This is ForexFactory when it's best

Kind regards,
Finn
  • #52
  • Feb 4, 2012 8:44am Feb 4, 2012 8:44am
Quoting Erebus
To my experience, what you asked for is exactly what this indicator does; how has your experience been since you made this post?

I don't know how you came to the conclusion that "To add and subtract a half daily range" is what this indicator does?

To me, it adds the Full ADR (not half) to the current low and draws a HIGH line, then subtracts the ADR from the current high and draws a LOW line. You can easily measure this at market open, or any time during the day actually, using the MT4 crosshairs pointer.

Depending...
Hi,guys, can someone go into detail how the ADR indi works.....would be much appreciated,thank you
  • #53
  • Feb 4, 2012 10:05am Feb 4, 2012 10:05am
Thanks for the efforts kraven. Looks really simple and effective system. will try it for sure.
:
  • #54
  • Feb 4, 2012 10:47am Feb 4, 2012 10:47am
Glad you like the idea pedrosa, as i said earlier, if your current trading isn't meeting your expectations then give this 100% for 2 weeks. Use daily and 1hr. it's fairly stress free.

for ME the ADR indicator is the best i've come across. the info in the top right shows various values..ADR, todays range, has ADR been hit, high and low of today, target high low.
on the chart itself it paints 2 faint lines (ADR high and low) the distance of the ADR, these are randomly placed at the top and bottom of current range (ADR distance apart). if price drops the lower ADR line drops with it until the top ADR hits the high of the day. the lines then stay in place and become solid and thick. the data window shows ADR has been hit and fills in relevent data. opersite happens if price rises....it's a really simple yet effect ADR indi (best i've found by far, i believe it's a specialised indi from an expensive course)
  • #55
  • Edited 2:29pm Feb 4, 2012 12:29pm | Edited 2:29pm
just knocked up another quick chart chart. this time AU daily and hourly. hopefully you can see why i'd enter and the potential for good profits. the charts are current.

if you look at the last pic you'll see the ADR has turned a solid red showing we have exceeded the ADR, now IF one of those candles RED candles had made a new high then reversed to me it would signal a high probability trade.
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  • #56
  • Feb 4, 2012 3:35pm Feb 4, 2012 3:35pm
Kraven, thank you for this real simple approach.

My Sunday testing session will be for your strategy...
  • #57
  • Feb 4, 2012 4:00pm Feb 4, 2012 4:00pm
Quoting Tedge UK
Hi,guys, can someone go into detail how the ADR indi works.....would be much appreciated,thank you
kraven said it best in his recent post, it really is the best ADR that I have found, and I believe that I am the one that introduced it here on FF, found it on a forgotten download site, yes, it is part of a system which I forget the name of.

Here is a screen shot of it when ADR is reached, you really have to watch it develop the lines during the price action of the day. Measure as soon as you can from the broker open, from current low to projected high, and from current high to projected low, and you will see that they are the same; not until price begins a move will the line narrow until price is met high & low.

Good luck, E.

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It takes a lot for me to IGNORE you, but you can try.
  • #58
  • Feb 4, 2012 4:16pm Feb 4, 2012 4:16pm
Erebus that was a nice trade in the pic, bottom candle that hit low ADR was a nice example of a reverse candle...

i'm told the indi is used in a Steve Mauro stratergy (hence the SM on the indi)
  • #59
  • Feb 4, 2012 5:27pm Feb 4, 2012 5:27pm
Once again, another great share by Kraven. Thanks for taking the time post your system and sharing your thoughts!
  • #60
  • Feb 4, 2012 5:40pm Feb 4, 2012 5:40pm
@ kraven, thank you for sharing. I use this mainly on daily charts, I`ll post if I find a decent entry that fits to the idea of this thread.

And thanks Seneca_pilot, great post - true understanding of market context.

Good trading to all.




M.
Be like water.
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