Thank You James16, Fijitrader, Mbqb1, ghous, Pinbar and Jarroo. cpfleger
- #7,303
- Edited 12:20pm Mar 2, 2012 10:44am | Edited 12:20pm
Hi!
Found this indicator as an overlay to the Extreme Spike indicator. It apparently looks at multi-timeframes! But it re-paints too. Anyways, here it is...
Would be nice to get an opinion about it from some of the pros here
Found this indicator as an overlay to the Extreme Spike indicator. It apparently looks at multi-timeframes! But it re-paints too. Anyways, here it is...
Would be nice to get an opinion about it from some of the pros here
- #7,304
- Mar 2, 2012 12:04pm Mar 2, 2012 12:04pm
And I bet you that the ratios those computers use are based on the same ratios and fib points....Also, it really does not matter because you can calculate almost to the pip the past two years market movements and they tie perfectly to those very Elliot ratios and fib retracement levels.
But as I said before...your posts make me think you are a ''glass is half empty'' kinda guy.
Evaluator.:nerd:
- #7,306
- Edited 1:48pm Mar 2, 2012 12:24pm | Edited 1:48pm
i wont paste my old trades coz you will ask me again why i did what i did.(some of the positions i took where experiments of applying pivots and S&R - i will share them when i have sufficient experience to share)
if you want to better understand the trades made click my name and scroll down. im running a demo account named pareto. the entry positions are there. open both your M5 and verify if you received a signal around that time in M5. if you dont have a log, get a copy of the LFH simulator and run M5 to see if signaler 1.7 (signals not matrix) provides you the same signal as the positions i took.
on your static H1, check where the arrow is and where it is pointing to.
for those who want to try my system, you'll need my template, signal 1.7 and RJ's arrow. (click on the paper clip, upper right hand corner. or upper left hand corner, in the Google Search bar within FF,type 'symphonie arrow.ex4' and scroll - exercise your fingers coz we're already giving you entry, exit and u even have a signaler, walk the last mile)
remember:
H1 arrow
M5 signal (signal by 1.7 to the same direction as H1 arrow)
TP 10pips
SL (your discretion, i have my favorite)
use HA bars in the background of the chart to allow you to better judge whether a trend exists or not, and still see the candle behavior
never change the TF of the chart that houses signaler 1.7 so you dont get delayed signals.
pareto project is now designed to do this. but since i trade live and analyze, often i forget about him. he is yet to enter my habit.
i am yet to migrate to 1.9. if anyone has successfully mimicked the signals produced by 1.7 in M5 chart with settings 1,3,2 and 20,5, would you be so kind to post your template?
thank you.
read this post of mine 10x, especially the "remember" part. say it, say it loud so your heart and mind can hear it. so that is what they will do what you want them to do. everything you need to know is here.
do not over think. better yet do not think. but when you see long tails opposite the trend......... need i say more? allow the H1 candle bar to close to assess validity if it's a long tail that is opposite the current trend (yes, the other long tail re-inforces the trend
)
trade with what you see not with what you think will happen. if you see a red down arrow, why in the world are you making a buy? take only high porbability opportunities. use MM all time. just in case its a reversal, you dont lose as much.
traders lose coz they have a "target." challenge yourself and make a solid target. 100 pips a day. put thresholds: 70 as horrible, 80 as okay, 90 as good, 100 as excellent. like school, like KPI's. trade like your life depended on it! better yet, trade and dedicate your results to someone you care/love/adore/ or your God - so that you will strive to be a lot better when you have delivered less than what you think he/she/it deserves to have.
if you have 2 losing trades - stop, stop, stop. close your unit. chill (no alcohol nor coffee) and talk to a friend (wall, dog, human, alter ego). come back only when you have a clear head. look at your H1 (dont bother looking at M5). then find the arrow and remind yourself where it is pointing at. then you will realize why you lost. sometimes, one exits prematurely due to unreasonably tight stop loss.
if a trend does not exist - why are you making one?
that's all happy weekend and trade well.
i was once preached "elementary, my dear." and it pierced so much that until now, i believe that there will always be more efficient ways of doing things.
i am a real newbie. i do not have any knowledge of anything in forex except what i have written here and time rendered to do simulations. but i think my reasoning is sound and logical. that's all i need to be.
if you want to better understand the trades made click my name and scroll down. im running a demo account named pareto. the entry positions are there. open both your M5 and verify if you received a signal around that time in M5. if you dont have a log, get a copy of the LFH simulator and run M5 to see if signaler 1.7 (signals not matrix) provides you the same signal as the positions i took.
on your static H1, check where the arrow is and where it is pointing to.
for those who want to try my system, you'll need my template, signal 1.7 and RJ's arrow. (click on the paper clip, upper right hand corner. or upper left hand corner, in the Google Search bar within FF,type 'symphonie arrow.ex4' and scroll - exercise your fingers coz we're already giving you entry, exit and u even have a signaler, walk the last mile)
remember:
H1 arrow
M5 signal (signal by 1.7 to the same direction as H1 arrow)
TP 10pips
SL (your discretion, i have my favorite)
use HA bars in the background of the chart to allow you to better judge whether a trend exists or not, and still see the candle behavior
never change the TF of the chart that houses signaler 1.7 so you dont get delayed signals.
pareto project is now designed to do this. but since i trade live and analyze, often i forget about him. he is yet to enter my habit.
i am yet to migrate to 1.9. if anyone has successfully mimicked the signals produced by 1.7 in M5 chart with settings 1,3,2 and 20,5, would you be so kind to post your template?
thank you.
read this post of mine 10x, especially the "remember" part. say it, say it loud so your heart and mind can hear it. so that is what they will do what you want them to do. everything you need to know is here.
do not over think. better yet do not think. but when you see long tails opposite the trend......... need i say more? allow the H1 candle bar to close to assess validity if it's a long tail that is opposite the current trend (yes, the other long tail re-inforces the trend
)trade with what you see not with what you think will happen. if you see a red down arrow, why in the world are you making a buy? take only high porbability opportunities. use MM all time. just in case its a reversal, you dont lose as much.
traders lose coz they have a "target." challenge yourself and make a solid target. 100 pips a day. put thresholds: 70 as horrible, 80 as okay, 90 as good, 100 as excellent. like school, like KPI's. trade like your life depended on it! better yet, trade and dedicate your results to someone you care/love/adore/ or your God - so that you will strive to be a lot better when you have delivered less than what you think he/she/it deserves to have.
if you have 2 losing trades - stop, stop, stop. close your unit. chill (no alcohol nor coffee) and talk to a friend (wall, dog, human, alter ego). come back only when you have a clear head. look at your H1 (dont bother looking at M5). then find the arrow and remind yourself where it is pointing at. then you will realize why you lost. sometimes, one exits prematurely due to unreasonably tight stop loss.
if a trend does not exist - why are you making one?
that's all happy weekend and trade well.
i was once preached "elementary, my dear." and it pierced so much that until now, i believe that there will always be more efficient ways of doing things.
i am a real newbie. i do not have any knowledge of anything in forex except what i have written here and time rendered to do simulations. but i think my reasoning is sound and logical. that's all i need to be.
- #7,317
- Mar 2, 2012 2:03pm Mar 2, 2012 2:03pm
thanks. i will post results.
was this awfully firing sell signals for EU and AU through out the trade earllier? like 27 sell signals for EU?
Yes, it was constantly flashing sell. As the sinking Euro started its late day turn around (became tired) it was still sending sell signal on the M5. Seasoned traders who are accustomed to counting the "levels" would have recognized the third drop after consolidation and should have stayed clear.
BTW, congrats on your stellar results. I have yet to reach the "mind like water" state and believe your prior comments about not thinking may be the key to my turning the corner in my trading as well. Thanks for the advice and your generous sharing.
Have a great weekend all
