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Symphonie Trader System

  • #13,041
  • May 29, 2012 3:47pm May 29, 2012 3:47pm
hey guys hope you all had a good holiday weekend!! I'm gonna revert back to long term charts when the new month starts.. daytrading on the east coast is too exhausting. cheers and happy pippiN'!!
  • #13,042
  • May 29, 2012 4:06pm May 29, 2012 4:06pm
Quoting Dyekid217
hey guys hope you all had a good holiday weekend!! I'm gonna revert back to long term charts when the new month starts.. daytrading on the east coast is too exhausting. cheers and happy pippiN'!!
What are the market open times for you?
Doing what you like is Freedom. Liking what you do is Happiness.
  • #13,043
  • Edited 5:07pm May 29, 2012 4:35pm | Edited 5:07pm
Quoting Fable
Hi guys!


I do feel a bit lost this week, I'm not able to build a solid fundamental analysis for this week. I feel very unsecure on EU. Eval analysis talks about a possible bullish reversal than about a possible devaluation of the euro. Charts are still in a down trend but the currency is very oversold.

So well I have quit all my trades until I can have a good vue of the big picture and rebuild a trading plan.

Any experienced trader can give me some guidlines to focus on ?

Regards,

Fable

ps: Happy pips to all of you
A couple of things here for you to consider.

For every analyst and news article that says the PA is going to reverse because <fill in reason here>, I will find you one that says the opposite! The reality is that no one knows what the PA will do......not you, not me, not George Sorros, not Draghi, not Obama.....NO ONE!!!

All that stuff that is printed just confuses people, like it has confused you, and it makes people biased in one direction or the other and prevents you from taking trades against their 'esteemed advice?'

So why do they do it?

Well, ALL of the 'analysts' make their salary from the broker or company they work for. The analysts aren't deliberately telling lies to you, some will even say 'the PA will go here.....but if it is rejected it will go here instead'....lol....how can they be wrong?? The fact is that when you lose, the broker wins. If they can trick you into following them, or even if their 'advice' confuses you, they win!!

My advice to you is don't read any of that crap......I don't. I know when the Greek election is due and I know that EZ is in a spot of trouble right now. I also know that the USA debt ceiling issue is going to surface again around the time of the elections in USA, and that may be big issue. Other than that, I don't know much about the fundamentals, nor do I need to. I certainly don't need to read someone's advice who works for a bank/broker or some other connected organisation.

I take action based on what I see on the charts in front of me......because what I see on my charts is REAL....it is not some popcorn farts bullshit....it is the 'here and now' and that is all I need to see.

Stochastic IS oversold.....and yes, that WILL have to correct itself and when the correction begins, you'll see it and will be able to take advantage of it. However, the oversold situation can last for a long time, and just because we are oversold, that doesn't mean it *has* to reverse. Stochastic isn't like a ball thrown into the air, it doesn't have to come down because it stopped going up!!!

Stochastic is advising us that that we are due for a relief rally *at some stage*.......it does not mean to stop shorting this thing and only take longs......it simply means that the bears are very, very strong and are not yet exhausted. Certainly keep an eye on stochastic because it will certainly show you when the rally is underway.....if you watch it on various time frames, you will probably see the time when the bears do become exhausted (bullish divergence), but again, it is not a given, it is a heads up!!

So......forget about all that fundamental crap from various sources......focus on what your charts tell you. By all means have an overview of what's going on in the world, but that's all it needs to be. Everything you need is right in front of you on your charts, and that is where this Symphonie system comes into it's own.

Trade the system......forget about the 'analysts' and their bullshit!!!
Doing what you like is Freedom. Liking what you do is Happiness.
  • #13,044
  • May 29, 2012 4:54pm May 29, 2012 4:54pm
As many have commented on my post #12865 ...that I am looking to buy and EURUSD...but the question is when to buy. As I stated in my post I am waiting for many factors of which the main one is trendlines. Now that the Elliott points have be reached and I have exited my sell orders from 1,33400 at 1.26500....(maybe too early) I am now looking for a completion of the Expanding Triangle with a Euro rally soon to come.

But when to buy???? What will determine a bottom is in place???

There are several things that one can use to determine a bottom in place.

First, I use the Symphonie Daily chart and look at the extreme value to determine if a bottom is forming. That is always my first warning and signal that it is a good time to exit or think about it. (i.e. Exit Strategy 1)

Second, Elliott wave ends points and price action formation patterns that point to consolidation or reversal.

Thirdly, I then look to the RSI and Stochastics values on the 60 min, 240 min, and daily charts to see if it appears there is a change in direction of any significance.

Last, I look to the old reliable...trendlines or channel breaks. This is usually a very good indication that trends are moving into periods of consolidation or possible reversal and the time has arrived when one should look for a change in direction of price action.

As I tried to state very clearly in my post #12865;

Quote
Ok....When to buy?? Look to the hourly (60 min) charts and wait for a break of the down trendline channel and a clear Symphonie BUY signal.
So, now you know my thoughts and how I am viewing the markt price action. Remember, I am not looking for the absolute bottoms or tops..(it would be nice but it never happens that clean)...I am looking for pattern price action directional changes and catching the backside of price movements so I am not caught trying to pick tops and bottoms. I let the markt come to me when it is ready and I then just ride the new trend to profit. So, watch closely for changes in direction and let the pips come to you....never chase them!

Evaluator.:nerd:
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  • #13,045
  • May 29, 2012 4:55pm May 29, 2012 4:55pm
Quoting ohammond
There is no difference between those 2, just that the matrix tvi is the one thats one RJ's template, but there is no difference between that and the v3.01(old sentiment) it was the one that used the old extreme indicator that repainted very badly.
Exactly right, thanks
Doing what you like is Freedom. Liking what you do is Happiness.
  • #13,046
  • May 29, 2012 5:31pm May 29, 2012 5:31pm
A very BIG THANKS to Realjumper and Eval for their lasts posts.

I do only trade the system (a personal "style" of it). So far it's good. I also try to find pattern and determine important S/R.

I guess I should more keep my eyes on the daily chart (I trade M15 H1 and H4, mainly H1).

I will focus more on the technical analysis. I guess it's a newbie defaults, I often struggle against trying to pick the right bottom or top. sometimes I miss big part of a good trend because of it.

Anyway thanks again for explain 'yours ways you do and see trades'.

Best regards,

Fable
  • #13,047
  • May 29, 2012 5:37pm May 29, 2012 5:37pm
Quoting Fable
A very BIG THANKS to Realjumper and Eval for their lasts posts.

I do only trade the system (a personal "style" of it). So far it's good. I also try to find pattern and determine important S/R.

I guess I should more keep my eyes on the daily chart (I trade M15 H1 and H4, mainly H1).

I will focus more on the technical analysis. I guess it's a newbie defaults, even I struggle against that, I try to pick the right bottom or top and sometimes I miss big part of a good trend because of it.

Anyway for explain 'yours ways you do and see trades

Best...
You're welcome...I hope it helps. For what t's worth, I look at the daily chart one per day.....or maybe not even that. I trade mainly M5 and M15 and I look at the H1 from time to time......that's about it!!
Doing what you like is Freedom. Liking what you do is Happiness.
  • #13,048
  • May 29, 2012 7:12pm May 29, 2012 7:12pm
Quoting yelena
if this trade(#13011) was allowed to run as planned, then it would have given me additional 100 pips yesterday (at 25 pips per trade). however, i'm not complaining. its just that i could slap my fingers for not following through the trading plan. like i said, this always happens to me 3x in a week. so 2 more times, it shall happen again. and i will never learn

upper yellow dashed line as DD
lower yellow dashed line as entry prices.
other yellow solid lines...
Impressive.

A multicurrency symphonie signaler could be interesting for that specific signal happing 3x a week
  • #13,049
  • May 29, 2012 7:52pm May 29, 2012 7:52pm
Quoting yelena
try putting SM60 on the charts. and you will have spread for DD and 30 mins for maturation.
I prefer use the THV coral 55
  • #13,050
  • May 29, 2012 8:28pm May 29, 2012 8:28pm
AU M5 No brainer trade from Tokyo open....even took in into account the Aussie Retail Sales news......

Basic symphonie stuff
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Doing what you like is Freedom. Liking what you do is Happiness.
  • #13,051
  • May 29, 2012 9:12pm May 29, 2012 9:12pm
Quoting yelena
you said you were not gonna trade tokyo i was trying to get a head start from you! nevertheless, i got 80 already. god, pls don't make me lose these!
I just happened to be at the desk before Tokyo open for an early lunch break. When you see something worth swooping on.......then swoop!!!

Now back to my chores before Frankie
Doing what you like is Freedom. Liking what you do is Happiness.
  • #13,052
  • May 29, 2012 11:04pm May 29, 2012 11:04pm
This is a very telling article.....Pay Special attention to the last paragraph.

Hint: Could the next QE3 program from the USA Central Bank involve a special provision to backstop Spainish debt as well as Greek???? (see post #12849)

P.S. This could be the catalyst for the Euro rally to 1.38054 (maybe)

ECB Calls Spain's Bluff... Or Does It? And Did Europe Just Check To The Fed?

http://www.zerohedge.com/sites/defau.../picture-5.jpg
Submitted by Tyler Durden on 05/29/2012 17:01 -0400

While most of the early action today was driven by a baseless rumor that the ECB would announce some magical recapitalization plan that would put everything back into its normal (by this we mean somehow sustainable) place, the alleged time when Draghi would make such an announcement came and went... and nothing. Instead, the ECB, using the FT as its mouthpiece, came out late in the day, however not with news that Europhiles wanted to hear. As a reminder, as part of the proposed Bankia nationalization scheme, Spain would inject Spanish debt into the insolvent entity, thereby allowing it to pledge the debt for ECB repo cash. Or so the thinking went. This was, in effect, Spain's bluff. The ECB has just called it.
From the FT:



A Spanish plan to recapitalise Bankia, the troubled lender, by indirectly tapping the European Central Bank for cash, was bluntly rejected as unacceptable by the ECB, European officials said.

News of the rejection came as Spain faces elevated borrowing costs in the bond markets, tries to persuade investors it can contain problems in a banking sector weighed down by €180bn of bad property loans and, on Tuesday, saw its central bank governor stand down early.

Instead, it seems that the ECB is a fan of the old fashioned type of capital raise: one involving equity, and cash, and none of this newfangled repo monetary ponziness. Of course, the only bank that did try a capital raise by way of a rights offering in 2012 was Italian UniCredit which plunged by nearly half in the days following the announcement as a market test would clearly indicate it was woefully undercapitalized and its equity may well be worthless. This, however, does not seem to bother the ECB:



The ECB told Madrid that a proper capital injection was needed for Bankia and its plans were in danger of breaching an EU ban on “monetary financing,” or central bank funding of governments, according to two European officials

ECB's calling of the Spanish bluff also explains the earlier news of Ordonez' premature evacuation from the Bank of Spain, which we noted:



News of the ECB’s hardline response emerged as the Bank of Spain announced that Miguel Angel Fernández Ordóñez, its governor, would step down at the end of next week, a month earlier than planned. Mr Fernández Ordóñez – known by his initials Mafo, who was appointed by Spain’s previous socialist government – has been subject to increasing attacks from politicians over his failure to prevent the country’s banking crisis.

In summary:



“This is like a game of poker now,” one government adviser said, “and I don’t think Spain is bluffing”.

Well, it is. Because its cards, as explained yesterday, are all merely collateral backed by zombie banks which carry their "assets" at idiotic valuations.
So yes - in the great game of monetary poker, the ECB just called Spain's bluff. Or maybe not. Because paradoxically this may all be simply a means to crash the market, as we have been cautioning since last week, when Citi, correctly, said that Crossover would cross over (pun intended) 1000 bps, before the central banks would get involved.
In other words: yes, it is a game of cards, but one which may well have Spain and the ECB on the same side of the table, and now both have checked to Ben Bernanke, who has 3 weeks to decide if the cost of bailing out Europe, and thus US banks, is worth the printing of another $1 trillion.
We can't wait to find out.
  • #13,053
  • May 29, 2012 11:13pm May 29, 2012 11:13pm
Quoting yelena
you said you were not gonna trade tokyo i was trying to get a head start from you! nevertheless, i got 80 already. god, pls don't make me lose these!
yelena,

for these quad trades you take...you're only taking the alignment of price action crossing the 60ma am I correct? not using the matrix on these signals correct?
  • #13,054
  • May 30, 2012 1:02am May 30, 2012 1:02am
I absolutly love what you are doing!! I am new for this strategy(1 day), and must tell that it does not look promesing. 2 SL!! I must do something wrong.
  • #13,055
  • May 30, 2012 1:22am May 30, 2012 1:22am
Hi Yelena,

what does this Bemac trade Management EA do for you?

Just curious -
  • #13,056
  • May 30, 2012 1:27am May 30, 2012 1:27am
Quoting ohammond
She deletes a lot of her posts afterwards, not sure why, she just does
Thanks ohammond. Now I don't feel so unloved lol. I thought I might be missing half the posts.
Everyone's got a plan until they get punched in the face
  • #13,057
  • May 30, 2012 1:30am May 30, 2012 1:30am
Quoting yelena
they are all matrix signals. the arrows are faster to look at and doesn't repaint so i can gauge clearly which pair has changed direction, if the others are joining that change or resuming original trend.

like that 1230 trade #13051 . 2 pairs signaled a buy. while the other 2 just remained selling. eventually those 2 pairs reverted to selling again. the arrow paints a clear picture of that. the matrix doesn't since it repaints the other 3 lines. hence, for...

sma60 will give you spread as DD.

by this do you mean that the DD will only be the spread of the pair as it crosses sma60?
do you wait for the close of the candle when it crosses the sma60?
  • #13,058
  • May 30, 2012 1:36am May 30, 2012 1:36am
Quoting yelena
better to wait. go ahead and plot it in your chart. place rj's arrow since it represents a non-repaint version of the matrix (imho)
And then?? What about TP?? What makes you feel like closing time??
  • #13,059
  • May 30, 2012 1:37am May 30, 2012 1:37am
Quoting yelena
better to wait. go ahead and plot it in your chart. place rj's arrow since it represents a non-repaint version of the matrix (imho)
Do you ever play against the trend? Or always with it?
Oh so many questions in my head ...
  • #13,060
  • May 30, 2012 2:10am May 30, 2012 2:10am
Quoting yelena
let see if she flies at 25 pips per pair. 6-12hours to mature.
80 (asia) + 17 (counter) = 97 running.
all positions hit at 25 pips each. 2 hours. = 197 total running

in 45 mins the market will consolidate unless a compelling news/rumor comes out. you should all be in profit by now. i suggest for you to close them before 6am EST. good luck and green pips to you all.
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