Symphonie Trader System

do any of you use the ATR for bounce trades once the level holds and is rejected? And do you target the opposite atr level?

Great addition btw.. now I see when I'm getting in late and I got out early on an audusd trade

By the way Mike, I really must congratulate you on the way your English is improving. In one month you're coming on in leaps and bounds very impressive, must be all the reading of the forum thats helping you

http://edition.cnn.com/video/?hpt=hp...withdrawal.cnn

can anyone explain how to use the atr projections? It looks like it recalculates at every new bar.. I used it a while back but never really delved into it. When it touches an atr level is that where the Range stops? or can it recalculate higher/lower.

I notice it says projected down/up in the corner but does that recalc as well? or is that set for the day

Thanks people!! This will be of much help as I haven't traded the shorter TF's but am realizing how important the shorter TF's are since it's the fastest movement of the market.

The one that I use, as far as I've noticed, recalculates if price gets very near to the first line, it brings the opposite lines down to take into account the fact its already moved a certain distance during the day. I haven't noticed it recalculate until price is very near to one of the lines.

ok thanks.. also I had an atr projection indicator that I got from the CICR method.. at day start price was in the middle of the range.. does this indicator also begin in the middle? or will it already be near the top/bottom of the range

here's the pivot indi.. I have mine set to recalculate at 5pm est. which is what I prefer from my old broker.

local timezone set to 0
dest timezone SET TO 7
show high low open TRUE

also found this really good S&R indi that looks pretty good.. shows multiple TFs want in your current TF.. Good to show confluence of S&R

changed to using an rsi 8 from another system I saw from a user named (mywid) in case anyone wants to check... stochastics isn't for me.. especially when not knowing if it will stay OB/OS. I will test on the 5m only taking shorts if 1hr rsi is below 50 and longs if 1hr is above.. exiting at nearest SR

Wish me luck!! I'm just starting to get the hang of the shorter tf

For anyone else reading this you need to set dest timezone to whatever you need to, to get it to 5pm EST, depending on when your broker's day ends. For instance fxpro which is gmt + 3 (london time +2) needs to be set to 0 because its day already ends at 5pm EST. If you're not sure whether they're right go to: http://www.actionforex.com/markets/p...2010040848154/ they should be within a pip or two of those which are also worked out at 5pm EST.

On FX and Worst Fears

Courtesy of Bruce Krasting
Two market developments are worthy of note today (so far). Gold is up 2.5% (off a very cheap low) and USDYEN and EURYEN have made very significant 1.3% moves down.
Stuff like this scares me. It looks like acceleration in the flight to quality. The news backdrop is terrible and supports a panicky market outcome. My ability to look into the future has gone to zero.
For those that follow this blog for my read on FX, I cut out my short on the Euro and the long on USDYEN today. The outcome was (sort of) what I anticipated. I collected a few dimes on net. This was always a trading position, having lost my rudder on what might happen next, I’m just taking oars out of the water.
It’s been my experience that my “Worst Fears” on matters of global macro economic developments never come true. Some of my worst fears at the moment:
- A full-blown bank run in Europe. This is already happening. It is happening in cash by the billions at the bank teller windows and cash machines, it is happening by the hundreds of billion in electronic transfers. It can’t go on much longer.
There is a story/rumor going around that Euro denominated bills will soon be stamped with a single letter of country origin. This is what may happen in Greece. To stop the cash drain from the local banks, bills taken from a bank/ATM would have a red G on them. Any money transfers out of the country would similarly be flagged G (or temporarily blocked). Functionally a two tiered Euro will have been created.
If (when) this happens the bank run will explode in Spain, Portugal and Ireland. The precedent will have been set with Greece. The response by authorities will be more stamped money, this time with red S’s, P’s and I’s. Basically the whole ball of wax melts down.
In that scenario, what would the value of a EURUSD marked with a D for Germany or an F France be? My answer is that it would be far higher than the 1.2700 it is at the moment.
My point is that it is not entirely clear what it means to be short the Euro against another currency, currently. I want to be short the Euro that will be marked with the dreaded S, P, or I (or maybe one with red IT?), but I don’t want to be short the one with a D.
Exchange controls of some form or another are not far away. If there is a two tiered Euro being formed by events in Greece, then contracts, including FX contracts, will be settled with the Euros that are the strongest legs of the two tiered system. While there are long odds for this outcome, they are odds I do not want to play.
- If things keep up as they are in the financial markets, there will be another problem someplace that is not now on the radar. It could be in Eastern Europe, or even Russia. My bet is it comes from Asia, possibly China. There will be liquidity issues someplace.
This story by Izabella Kaminska talks about the potential for a problem (link).
- There are other things on my radar that could be trouble. One that could be a kick in the pants is a “failed” IPO for Facebook.
Nevertheless, I think this deal will be a huge success. It will be a monster IPO that raises record amounts of capital. More shares will be sold to the public than has been assumed. There is a big ‘Green Shoe” of additional shares that the underwriters have to offer if there is post issue market demand.
I expect that the stock will open at a big premium to the IPO price, and then rise some more. What I’m afraid of is the print at 3:30.
There is an aspect to this deal that is a bit troubling. Mark Zuckerberg has made it clear to the underwriters that he wants a good portion of the stock sold in the IPO to go retail investors who believe in Facebook. Those investors would not stand a chance of getting any stock in a normal IPO. Good for Marky.
But that is not how IPOs work. Deals get “hot” because retail investors want to own shares, and those investors typically have been excluded from getting shares at the IPO price. Retail is normally the force that gets an IPO a 10%+ pop at the opening.
But what if a fair chunk of the retail demand that is needed for the stock to catch a bid has already been filled?
This is a very big deal with some unusual features. It will be priced rich with lots of shares sold. If there is a pop tomorrow morning that results in the green shoe getting filled, and the flippers (like me) get out, it could lead to a disappointing day.
Who knows? We might have a $100b lead weight on our hands.
Note: The results for FB may get tainted by news from Europe or elsewhere. What’s the chance for bad news from Europe tomorrow? A Friday? High, is the answer.

can anyone explain the ATR projections? what are the projection down and projection ups for..

I'm guessing if price moves south/north then that's where price should hit 100% atr?? Because when the new day starts the levels are not where the projections are said to be. do we use the projections as targets or the levels as they recalculate?

thanks!

When the new day starts the level furthest away (in each direction) is at 100% ATR, the line before it, is something like 80% of that distance (not sure of the exact figure) which sometimes price will hit and bounce off of and either carry on its way or get completely rejected. Think twice about putting a new trade in if you are near one of those lines.

When the price gets near one of the lines the other set of lines in the other direction will move down/up to take into account the distance already travelled that day.

Hiya,

My broker is 1 hour ahead of the current gmt. Bit confused as to what I should set it to? The say their open from Sunday 10pm till Friday 10pm

Cheers!

Mr P

Symphonie working well!.. My template shows me the way of what I am going to do!.. Thanks for the Symphonie Trader!..

Troias!..

just to see if I'm looking at these projections correctly.. would this be the case??

55 percent of the atr is met so theres still room to move.. if price is rejected would I look to target the first opposite atr level?

Hi
Most traders calculate Pivot Points from GMT (due to this session being the most volatile) becuase of this you should have local tiime zone set to 1 (offset of your brokers server from GMT)and destination time zone set to 0 (the zone you want to calculate PP from ie GMT)
Note !! Sundays evening data would probably be disregarded for calculation purposes
Oh yes and remember that DST (daylight saving time) adjustment on you local server will change the offset in the local time zone in the autumn
http://wwp.greenwichmeantime.com/

It's in your interests to use the time zone most used by other traders for obvious reasons

nice probability meter
here for all simphonie traders

A screenshot maybe ?

Interesting and well created analysis on the problems of Europe and the EUROZone.

Evaluator.:nerd:

http://www.youtube.com/watch?feature=player_embedded&v=_o9KV477qO8#!