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  • #1,441
  • May 4, 2012 5:42am May 4, 2012 5:42am
Quoting nanningbob
I downloaded the indicators from page 1 post 1 and compared them with the ones i am using and they were identical. The only possible guess answer would be the open times of the markets would be different from broker to broker. This would make the place of the original open line different for the different indicators. In other words the open time of the market by the broker is the determining factor of what the indicator will tell you. So both the 1MA open and 2 MA open would be affected by that. Solving that problem, oh boy that would be a wild...
Hi there

Maybe if all the indicators used the same datum (GMT) that might help.

Here is a library (LibGMT) that could help with this: - http://www.stevehopwoodforex.com/php...t=libgmt#p5148

Cheers

Paul
  • #1,442
  • May 4, 2012 5:44am May 4, 2012 5:44am
Quoting nanningbob
If you look at the EURO charts, eur/jpy, eur/gbp are showing almost identical charts. Eur/Cad could be played as a bounce off the weekly pivot. If tonights move makes the euro go up. You would not be in eur/jpy eur/gbp or eur/usd but a pending buy above the weekly pivot on the eur/cad could have you going buy. You have yourself covered going both directions on tonight's story with the euro. Eur/usd, eur/jpy, eur/gbp sells, eur/cad buy. The other euros are overbought and look to come down but that may not happen. So that is how you can read these...
Bob, I am 100% in agreement from looking @ the charts. I am in sell positions on eur/jpy & eur/gbp with profit - will close those positions before the news today. I am also in a pending buy on eur/cad.
  • #1,443
  • May 4, 2012 5:52am May 4, 2012 5:52am
Quoting nanningbob
Not sure about your question but I think I understand it, let me know if I dont. I trade around 25 pairs on my charts, seldom trade gbp/nzd, eur/nzd, and eur/chf but the info is there. These are also the major currency pairs, which I will divide into two groups. Majors USD, EUR, GBP, and JPY and the minors NZD, CAD, and the AUD with the CHF in the middle somewhere. That is the 8 major world currencies. Someday we will have to add the RMB to that group. So I have plenty to trade and choose from. From that group I look for the best trades of the day...
thank You, and sorry for my amateurish english all is clear and... sure 25 pairs is enough. just noticed that you didnt put in your spreadsheet scandinavian pairs, and all other more than 100 pairs some brokers are offering.
all is eternal - this is good news for people who loves bad news
  • #1,444
  • May 4, 2012 5:54am May 4, 2012 5:54am
Quoting batemap
Hi there

Maybe if all the indicators used the same datum (GMT) that might help.

Here is a library (LibGMT) that could help with this: - http://www.stevehopwoodforex.com/php...t=libgmt#p5148

Cheers

Paul
I dont know if that would work if brokers open at different times unless we did it later in the day or set it before the JPY session open time. I think I will try the Friday close first and see what happens. We are working on a test version of a Friday close for the pivots so we can study them over the weekend instead of waiting until Monday to see them. Since pivots are based on the high and low of the previous week. We could do the same for the close candle of the weekly 1MA and 2MA open.
  • #1,445
  • May 4, 2012 6:01am May 4, 2012 6:01am
Quoting meshka
thank You, and sorry for my amateurish english all is clear and... sure 25 pairs is enough. just noticed that you didnt put in your spreadsheet scandinavian pairs, and all other more than 100 pairs some brokers are offering.
Well that is a lot of work.
  • #1,446
  • May 4, 2012 6:05am May 4, 2012 6:05am
Quoting Zool
Nanningbob: thanks for looking onto the pivot line label problem

There is another thing I found: none of the the WOHs looking the same as on your screenshots here in the forum and in the 10.2 documents. It seems that the 1MA histogram doesn't resets itself at the begining of the week, and it compares the previous weeks' candles to the current week's open. The 2ma shift1 histogram looks completly different too, but I don't know why

Please take a look at my screenshot about the EURCAD chart and compare it to your screenshot...
I went and downloaded the ones from page 1 post 1 and attached them to my screen. They showed up the same as the ones I have been using.
  • #1,447
  • May 4, 2012 6:30am May 4, 2012 6:30am
Quoting nanningbob
I went and downloaded the ones from page 1 post 1 and attached them to my screen. They showed up the same as the ones I have been using.
What is your broker's time zone? Mine is gmt+2 so there is no sunday candle, the market opens at monday 0:00 and close at friday 23:00 (server time).
  • #1,448
  • May 4, 2012 9:55am May 4, 2012 9:55am
Quoting Zool
What is your broker's time zone? Mine is gmt+2 so there is no sunday candle, the market opens at monday 0:00 and close at friday 23:00 (server time).
IBFX here in the USA and the market opens 6PM Sunday night EST.
  • #1,449
  • May 4, 2012 9:59am May 4, 2012 9:59am
Bob,
Your TMA indicator shows ranging on this daily chart - this doesn't look right to me, surely this should be a sell?
Maybe you can compare it to your chart?
The H4 shows sell.
Attached Image (click to enlarge)
Click to Enlarge Name: chfjpy.gif Size: 37 KB
  • #1,450
  • May 4, 2012 10:21am May 4, 2012 10:21am
Quoting fxbarwise
Bob,
Your TMA indicator shows ranging on this daily chart - this doesn't look right to me, surely this should be a sell?
Maybe you can compare it to your chart?
The H4 shows sell.
First the daily chart is correct. Chf/jpy has stayed within a 275 pip range for the last 25 trading days. That is a correct call.
second I took the trade off of the break of the previous low on the 4H chart and it is doing well. See pic below of the 4H chart. I put an arrow at the previous low and set a pending order just below it. The bars on the TMA were pink and showing a sell bias. Both weekly trends were sells and price was below the MA lines. That was a lot of confirmation!!!!! I am 34 pips up on that one now. I brought my SL up to +20 and will let it ride and will close later. I want to see if it reaches the previous daily low. TP there and then set a pending sell below the previous low.
Attached Image (click to enlarge)
Click to Enlarge Name: chf jpy.gif Size: 45 KB
  • #1,451
  • May 4, 2012 10:27am May 4, 2012 10:27am
Bob - this usd/cad chart shows the same - on H4 & H1, strong buy but ranging on daily. I either do not understand how this indicator works or maybe there is something wrong on my side - it just seems like the indicator on the daily chart lags price action quite significantly??
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad.gif Size: 39 KB
  • #1,452
  • May 4, 2012 10:33am May 4, 2012 10:33am
The CHF/JPY reached the wicks of the previous daily lows so I took profit at +35 pips. I will not play a break this late Friday on that trade but will look at it for Monday.
  • #1,453
  • May 4, 2012 10:40am May 4, 2012 10:40am
Come on guys read your charts. The USD/CAD has been in a 200 pips range for 3 months now. It bounced off the bottom of the range and went back up. You need to learn to read your daily charts. This is not difficult. See the range lines in green from when it started at the end of last January until now. This is your daily chart. You could anticipate this happening. Yes the daily shows ranging market because that is exactly what it is doing. Daily bars are green showing a buy bias
Attached Image (click to enlarge)
Click to Enlarge Name: usd cad.gif Size: 32 KB
  • #1,454
  • May 4, 2012 10:44am May 4, 2012 10:44am
usd cad 4H bars are green weekly is UT from the 1 MA open we see the bounce off of the bottom range from the daily. It broke and made a nice trade that is still going. I went ahead and closed out that trade after 63 pips
Attached Image (click to enlarge)
Click to Enlarge Name: usd cad 2.gif Size: 31 KB
  • #1,455
  • May 4, 2012 11:01am May 4, 2012 11:01am
I also forgot to add that the USD/CAD had gone above the weekly pivot which gave me solid confirmation that a buy here was a good thing. So lets review the trade.

Daily chart price is ranging with a bounce off of the bottom range possible. Green bars in the TMA were green showing a buy bias.
4H chart, price was moving up from the weekly open. TMA was above .4, price above main pivot and MA lines. Look for break above previous highs. Price bounced off weekly pivot and took off. Picture perfect.
  • #1,456
  • May 4, 2012 11:04am May 4, 2012 11:04am
It is midnight here in China. I am going to bed. Closed all my profit trades will review the week tomorrow.
Total trades for the week 53 -- 48 wins for +1728 pips 5 losers for -365 = total for the week 1363.

Night.
  • #1,457
  • May 4, 2012 12:16pm May 4, 2012 12:16pm
Quoting nanningbob
It is midnight here in China. I am going to bed. Closed all my profit trades will review the week tomorrow.
Total trades for the week 53 -- 48 wins for +1728 pips 5 losers for -365 = total for the week 1363.

Night.
Awesome Bob!! I am certainly learning a lot from you as we go and I am looking forward to more next week!! Have a good rest.
Do you line up your trades fro next week on Sunday evening?
  • #1,458
  • May 4, 2012 12:29pm May 4, 2012 12:29pm
Quoting nanningbob
It is midnight here in China. I am going to bed. Closed all my profit trades will review the week tomorrow.
Total trades for the week 53 -- 48 wins for +1728 pips 5 losers for -365 = total for the week 1363.
Do you normally close all your profit trades Friday night (your time)? At what time, please? What about trades in drawdowns?

As you mentioned in your earlier posting, IBFX opens 6:00pm EST Sunday evening here in the U.S. Do you start entering trades immediately from the market openning at 6:00pm EST, or wait till Tokyo or London session?

As always, thank you very much!
  • #1,459
  • May 4, 2012 12:36pm May 4, 2012 12:36pm
Quoting nanningbob
IBFX here in the USA and the market opens 6PM Sunday night EST.
I've opened a demo account at ibfx. Their server time is GMT, I was wrong when I said my broker is GMT+2 because now it's DST so they're GMT+3 now (sometimes thhis tme zone thing really confuses me). So my broker shows 20:35 now and IBFX shows 17:35.
  • #1,460
  • May 4, 2012 12:37pm May 4, 2012 12:37pm
First off, thanks to Bob and all the contributors for an extremely interesting trading system. Although I have been exploring methods and strategies for a couple of years I still consider myself a newbie. I know that I have so much to learn and, thus, for me subscribing to this thread is like getting a place at Oxbridge!

I have spent the last few days trying to absorb as much as I can but I feel it is time to start actually (demo) trading with it.

So, I have a quick question to see if I am doing this correctly. Right now (6:30pm UK time) I am watching a pullback on the GBPUSD Daily. The weekly chart shows that we are in an uptrend (using the 2MA and 8MA definitions). The current price is below the brown 5MA (shifted 5) so I am thinking this is an opportunity to get in with a buy. If so, to get in at the earliest opportunity (aside from manually pulling the trigger) would the "10.2 5.5 MA BUY ANY TF" be the correct EA to use under these circumstances?

By the way, I know that trading on a Friday evening is probably not wise - I am more interested in checking the logic of my analysis.

Cheers

Mike
When you are wrong - admit it. When you are right - keep quiet!
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