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Lean Mean Money Making Machine

  • #81
  • Jan 31, 2013 6:27pm Jan 31, 2013 6:27pm
Okay the video is ready! I had to use the 15 minute chart to demonstrate the trade from the beginning of the week because Oanda could not give me data to view the beginning of the week on 5 minute. However, next week I will make another video to show you how to enter at the start of the trading week on the 5 minute. I hope everyone finds this video useful, so that we can all succeed and be wealthy together!

Inserted Video
  • #82
  • Jan 31, 2013 6:29pm Jan 31, 2013 6:29pm
Quoting ForexFury
Looks like you have your hands full tonight! Looking forward to that video. I am too confused about a few things!
Definitely a busy night! I hope this video clears things up for you. If not, feel free to ask questions.
  • #83
  • Jan 31, 2013 6:34pm Jan 31, 2013 6:34pm
NZD/JPY take profit hit giving us 138 PIPS
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  • #84
  • Feb 1, 2013 3:58am Feb 1, 2013 3:58am
Thanks Ashur for the video. It is much appreciated.

At the very start, you say that price broke up and subsequently broke down therefore you were looking for a sell. Just a few questions to help clarify things in my mind.

1. If price broke up above the starc bands, why were you not looking for a buy? But looking for a sell when it broke below the starc

2. On subsequent trades you are of course looking at a turning point based on the previous signal and fibo. So why were you not doing that at the start of the video, ie measuring if the turning point had been reached. ( Lack of data perhaps, as you mentioned)

3. On the 5 min scalping, what is the purpose of the starc bands. Also is HA not being used?

What would be useful is over the weekend to post say 3-4 charts where turning points have been reached and we are looking for trades, and 1 or 2 where such is not the case. That way we can pull the same charts up with the fibo and track entries - this will help all to understand the system in detail.

Thanks again for your efforts.
Pardy
  • #85
  • Edited 9:12am Feb 1, 2013 8:54am | Edited 9:12am
Quoting ashur123
Okay the video is ready! I had to use the 15 minute chart to demonstrate the trade from the beginning of the week because Oanda could not give me data to view the beginning of the week on 5 minute. However, next week I will make another video to show you how to enter at the start of the trading week on the 5 minute. I hope everyone finds this video useful, so that we can all succeed and be wealthy together!

http://www.youtube.com/watch?v=NmF2C...ature=youtu.be
Hi Ashur,
It seems that on low timeframes you are ignoring Heiken Ashi?
In the video you drew Fibonacci from extreme top/bottom to last higher low/lower high ignoring the color of the candle that made it.
Initially, in post 1, you said: "For buy: We wait for heiken-ashi to form new low, we put a limit order at the high of the green heiken-ashi candle that was before the train of red candles."
So, is it correct that on low timeframes Heiken Ashi is not relevant? Or does it maybe apply also to higher timeframes?
  • #86
  • Feb 1, 2013 10:12am Feb 1, 2013 10:12am
Quoting Pardy
Thanks Ashur for the video. It is much appreciated.

At the very start, you say that price broke up and subsequently broke down therefore you were looking for a sell. Just a few questions to help clarify things in my mind.

1. If price broke up above the starc bands, why were you not looking for a buy? But looking for a sell when it broke below the starc

2. On subsequent trades you are of course looking at a turning point based on the previous signal and fibo. So why were you not doing that at the start of the video, ie measuring if the turning...
If at the start of the week we see price is above STARC that means we're looking for a SELL. If it is below STARC that means we look for a BUY. Yes HA is being used on the 5 min as well.
  • #87
  • Feb 1, 2013 10:14am Feb 1, 2013 10:14am
Quoting Indrek
Hi Ashur,
It seems that on low timeframes you are ignoring Heiken Ashi?
In the video you drew Fibonacci from extreme top/bottom to last higher low/lower high ignoring the color of the candle that made it.
Initially, in post 1, you said: "For buy: We wait for heiken-ashi to form new low, we put a limit order at the high of the green heiken-ashi candle that was before the train of red candles."
So, is it correct that on low timeframes Heiken Ashi is not relevant? Or does it maybe apply also to higher timeframes?
No, we use HA on lower TF as well. Wait for highest high, draw fibo to low of the lowest high(for SELL)
  • #88
  • Feb 1, 2013 10:28am Feb 1, 2013 10:28am
Quoting ashur123
No, we use HA on lower TF as well. Wait for highest high, draw fibo to low of the lowest high(for SELL)
So, is it important, which color is the candle that made the lowest high or highest low? Initially it was important but in the video you clearly did not pay attention to the color...

To be more specific: in the first video you drew Fibo to the previous red/green candle, in the second one you drew it to previous low/high. Which one is right?
  • #89
  • Feb 1, 2013 10:53am Feb 1, 2013 10:53am
Quoting Indrek
So, is it important, which color is the candle that made the lowest high or highest low? Initially it was important but in the video you clearly did not pay attention to the color...

To be more specific: in the first video you drew Fibo to the previous red/green candle, in the second one you drew it to previous low/high. Which one is right?
It's the same thing. Pay attention to the color of the candle BUT if the candle doesn't have a color, meaning that its a doji, then that's basically like a wild card. You can make it be whatever color you want. I'll make another video starting from the very beginning of the week next week to make it very clear. I might be entering using 1 Minute chart, just to get in more action.
  • #90
  • Edited Feb 2, 2013 4:55am Feb 1, 2013 12:55pm | Edited Feb 2, 2013 4:55am
Hi Ashur,

Thanks very much for the M5 approach and the video!


In Oanda the STARCs look different then in MT4
Q1. Is it possible to trade in MT4, maybe with different setting?

Q2. How far must a HA candle come through the STARC? Is a peek with only the wick enough, or must it be closed below?


Thanks and Regards,

Ben
  • #91
  • Feb 2, 2013 12:00am Feb 2, 2013 12:00am
Hi Ashur,

This is a great system; you have all the essential factors covered. I believe this is what the 5% of professionals talk about when they say you need a method.

A: It covers entry signal (obviously with a some thinking involved and even that is based on whether STARC is up or down).

B: You have a S.L which is based on the FIBO, with a delicious R:R.

Ba: Btw I recall from previous posts about why s.l and t.p varies, I'll take a crack at this and correct me if I'm right . From what I understand looking at FIBO the s.l is at 0% FIBO and t.p is at the 3rd line after 100% being 423.6%. As the the market makes all shapes and sizes of swings from LH to the previous LL and vice versa, then that means FIBO must adjust to the swings, which is why it varies.. So for example if a previous sell signal swing was 100 pips then 100pips is your s.l and your T.p is 423pips. Now this can vary, lets say if your next swing for buy signal is 50 pips difference, then your s.l is 50pips and your t.p is about 211.5pips. Now what you lose or make in terms of money, well this all depends on what your comfortable level.

C: Money management and Take Profit is on lock down, as mentioned above.


D: All thats left in the equation is an exotic car.



Over all great system. Its simple yet profitable and with comfortable R:R. Great job buddy!

Best regards,
Jacob
  • #92
  • Feb 6, 2013 4:27am Feb 6, 2013 4:27am
Quoting ashur123
Okay the video is ready! I had to use the 15 minute chart to demonstrate the trade from the beginning of the week because Oanda could not give me data to view the beginning of the week on 5 minute. However, next week I will make another video to show you how to enter at the start of the trading week on the 5 minute. I hope everyone finds this video useful, so that we can all succeed and be wealthy together!

http://www.youtube.com/watch?v=NmF2C...ature=youtu.be
Hi Ashur,

Await your video. Thanks.
  • #93
  • Feb 6, 2013 11:23am Feb 6, 2013 11:23am
Quoting Pip Prudent
Hi Ashur,

This is a great system; you have all the essential factors covered. I believe this is what the 5% of professionals talk about when they say you need a method.

A: It covers entry signal (obviously with a some thinking involved and even that is based on whether STARC is up or down).

B: You have a S.L which is based on the FIBO, with a delicious R:R.

Ba: Btw I recall from previous posts about why s.l and t.p varies, I'll take a crack at this and correct me if I'm right . From what I understand looking at FIBO the s.l is at 0%...

Thank you for your words Jacob. The exotic cars are coming soon, slowly, but surely! I hope you attain great success with this system.
  • #94
  • Feb 6, 2013 11:24am Feb 6, 2013 11:24am
Quoting Pardy
Hi Ashur,

Await your video. Thanks.

Sorry Pardy, I got caught up in my day job the past couple days! I've made a few changes to the scalping method of this system that I'm sure you will find of interest. I'll try to post the changes up sometime today for everyone.
  • #95
  • Feb 6, 2013 11:30am Feb 6, 2013 11:30am
Quoting Pip Prudent
Hi Ashur,

This is a great system; you have all the essential factors covered. I believe this is what the 5% of professionals talk about when they say you need a method.

A: It covers entry signal (obviously with a some thinking involved and even that is based on whether STARC is up or down).

B: You have a S.L which is based on the FIBO, with a delicious R:R.

Ba: Btw I recall from previous posts about why s.l and t.p varies, I'll take a crack at this and correct me if I'm right . From what I understand looking at FIBO the s.l is at...
Your kidding right?
  • #96
  • Feb 7, 2013 12:10am Feb 7, 2013 12:10am
Hi fxpivots,

If you take a closer look, you will know that I am being serious in what I wrote about the system.

Kind regards,

Jacob
  • #97
  • Feb 8, 2013 8:17am Feb 8, 2013 8:17am
Hello everyone! I have redone the system in a smaller time frame(for those eager to get into trades more often). I am currently using 5 Minute Center of Gravity chart, with 15 minute Oanda. Couple of rules have been added.

BUY
-We look at the Center of Gravity chart first, all MA's must be below COG.
-We then look at the 15 Minute Oanda chart. The smaller STARC band (100,150,1.1618) must be BELOW the larger STARC band.
-We wait for lowest low to form, then we wait for highest low to be broken.

Examples provided.
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  • #98
  • Feb 8, 2013 10:39am Feb 8, 2013 10:39am
Anybody living in Southern Ontario? I hope you're enjoying all the snow were having!
  • #99
  • Feb 8, 2013 11:09am Feb 8, 2013 11:09am
Quoting ashur123
-We wait for lowest low to form, then we wait for highest low to be broken.
You probably meant that we wait for lowest high to be broken?
And one more thing... Have you changed STARC parameters for lower TF? On higher TF the quicker STARC was 100-150-1.33 but now it is 100-150-1.168?
  • #100
  • Feb 8, 2013 2:31pm Feb 8, 2013 2:31pm
Hello friends,

It's fairly simple.

Trending Up: Higher highs, and Higher Lows then its up.
Look for a reversal. Definition of a reversal is. after higher highs die out, then we're going to have a Lower high then the previous, and then a break of the previous low. Hence we enter on the break of previous low; having made a Lower low.
-:- so putting the picture together we have Higher highs and higher lows turning into lower highs, and eventually lower lows.

This is vice versa for when it is Trending down: Lower lows and lower highs, will become higher lows, and eventually breaking up to make higher highs.

This is what they mean trading with the trend, and by doing that you catch the beginning of the trend

With that being said do be careful of fake outs.

Kind regards,
Jacob
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