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  • #13,101
  • May 10, 2013 8:45am May 10, 2013 8:45am
Quoting realjumper
{quote} There you go...your 1st 'v'.......you deserve it
... oh wow! Thanx RJ ..... weekend ... here we come.......... no beer swigging smiley....
.... laughing all the way to the bank
  • #13,102
  • May 10, 2013 8:49am May 10, 2013 8:49am
First time posting on this thread, looks really interesting.

I can only trade H4 and D1 charts, though, because of time restraints.

I'd be grateful if someone could take a look to see if I'm going the right way with this. I did some back testing using H4 charts and found a consistent 50 pip SL and 50 TP worked quite well.

Is anyone else using this to trade the higher TFs?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 10th May 13 GBP:USD H4 Chart Genesis.png Size: 133 KB
Click to Enlarge Name: 10th May 13 USD:CHF H4 Chart Genesis.png Size: 153 KB
  • #13,103
  • May 10, 2013 8:53am May 10, 2013 8:53am
Quoting realjumper
{quote} You know more on the subject than I do Marty, but I don't like the whole idea of Central Banks.....you know how the saying goes...power corrupts etc etc. Have you seen the movie...well, documentary 'Zeitgeist - The Federal Reserve'? It is available via youtube etc and it's an eye opener on the whole Central Banking house of cards theme.....and us muppets allow it to continue!
RJ,

No I haven't I will have a look.

Its interesting the comparison of Greenspan before and after his tenure; absolutely incredible turnaround.


Quoting realjumper
I don't like the whole idea of Central Banks.....you know how the saying goes...power corrupts etc etc.
The current political establishment we have at the moment, scares me senseless.

There is not one of the leading developed countries, whose current leader inspires me; at all !! and that is probably a bigger worry
I am a fallible imperfect person; so I must be a fallible imperfect trader.
  • #13,104
  • May 10, 2013 8:55am May 10, 2013 8:55am
Quoting stevepatt
First time posting on this thread, looks really interesting. I can only trade H4 and D1 charts, though, because of time restraints. I'd be grateful if someone could take a look to see if I'm going the right way with this. I did some back testing using H4 charts and found a consistent 50 pip SL and 50 TP worked quite well. Is anyone else using this to trade the higher TFs? {image} {image}
That all looks pretty good Steve. I'm sure how a fixed SL of 50 pips will work though, the way we do it here is above/below the previous swing high/low.....although on the H4 and D1 charts that might just be way too expensive. I have never traded that far out but the system will handle it well.....the SL is a grey area though. Perhaps someone else has experience of this?

Interesting choice of colour for your charts!!
Doing what you like is Freedom. Liking what you do is Happiness.
  • #13,105
  • May 10, 2013 9:00am May 10, 2013 9:00am
Quoting Martyfish
{quote} RJ, No I haven't I will have a look. Its interesting the comparison of Greenspan before and after his tenure; absolutely incredible turnaround. {quote} The current political establishment we have at the moment, scares me senseless. There is not one of the leading developed countries, whose current leader inspires me; at all !! and that is probably a bigger worry
Yeah have a look at the doco over the weekend.....it's amazing...to say the least!

I agree with you re world leaders...and that might not be the case if the electoral systems were more fair. The FPP system of the UK is stupid and unfair, and the American system is different, but equally stupid and unfair. We have a proportional representation system here, and while not perfect....far from it....it's a step in the right direction...imo
Doing what you like is Freedom. Liking what you do is Happiness.
  • #13,106
  • Edited 9:25am May 10, 2013 9:03am | Edited 9:25am
Quoting stevepatt
First time posting on this thread, looks really interesting. I can only trade H4 and D1 charts, though, because of time restraints. I'd be grateful if someone could take a look to see if I'm going the right way with this. I did some back testing using H4 charts and found a consistent 50 pip SL and 50 TP worked quite well. Is anyone else using this to trade the higher TFs? {image} {image}
Looks pretty good SP.
I've never traded anything over the 15 min timeframe. I'm assuming you'll be using the monthly pivots? Are you trading the bounces of these pivots?

I was looking at the second chart you posted - the trade before the short... how would you have handled that long? Pretty big SL needed there.

I do know someone suggesting to wait for the low or high of the first candle to be broken before taking a trade.
.... laughing all the way to the bank
  • #13,107
  • May 10, 2013 9:04am May 10, 2013 9:04am
Ok...it's 2am....time I wasn't here! Have a great weekend all.....see you next week
Doing what you like is Freedom. Liking what you do is Happiness.
  • #13,108
  • May 10, 2013 9:14am May 10, 2013 9:14am
Quoting realjumper
{quote} Yeah have a look at the doco over the weekend.....it's amazing...to say the least! I agree with you re world leaders...and that might not be the case if the electoral systems were more fair. The FPP system of the UK is stupid and unfair, and the American system is different, but equally stupid and unfair. We have a proportional representation system here, and while not perfect....far from it....it's a step in the right direction...imo
I really dont think it is the voting system, it is that politicians of all colours have lied about the welfare state that countries can afford.

We have been fooled by the debt-fuelled boom of 80s/90s/00s.

We are all broke but dont/cant admit it.

And people just vote for the party that promises the biggest payouts; a broken system
I am a fallible imperfect person; so I must be a fallible imperfect trader.
  • #13,109
  • May 10, 2013 9:15am May 10, 2013 9:15am
See you next week RJ
.... laughing all the way to the bank
  • #13,110
  • May 10, 2013 9:20am May 10, 2013 9:20am
Quoting Martyfish
{quote} I really dont think it is the voting system, it is that politicians of all colours have lied about the welfare state that countries can afford. We have been fooled by the debt-fuelled boom of 80s/90s/00s. We are all broke but dont/cant admit it. And people just vote for the party that promises the biggest payouts; a broken system
... totally agree Marty. Our benefit system is unsustainable..... but not one single party will touch on this because of special interests dependency on the system.

So what is the cure? Become like China? Look for more colonies to plunder? That is where we got out wealth from.... before we whittled it away... thanx Gordon....
.... laughing all the way to the bank
  • #13,111
  • May 10, 2013 9:38am May 10, 2013 9:38am
Kelly,

The current system of capitalism, worked; but not corrupt capitalism, as we have now.
I am a fallible imperfect person; so I must be a fallible imperfect trader.
  • #13,112
  • May 10, 2013 9:55am May 10, 2013 9:55am
Thanks to the Genesis Matrix and everybody here (you know who you are.... lol)

+70 in 4 pairs. I will upload charts when I have time.

Done for today have a great weekend everybody!

thanks again
  • #13,113
  • May 10, 2013 10:01am May 10, 2013 10:01am
Quoting Martyfish
Kelly, The current system of capitalism, worked; but not corrupt capitalism, as we have now.
.... to some extent corrupt capitalism may have contributed to our inability to balance our books ... I think the main issue we have is demography and social issues to a lesser degree.

And the main issue twofold.
Younger people/teenagers having kids too early and expecting the state to foot the tab and older people living longer and costing the state more. Both these models were not accounted for. I could go into health issues and how the evil corporates are involved ... plus how much its costing us .... but that will be for another day.

Anyway, I have to go now but will be keen to see your take on this.
Enjoy your Bombay drink
.... laughing all the way to the bank
  • #13,114
  • May 10, 2013 11:41am May 10, 2013 11:41am
Quoting doitamg
Thanks to the Genesis Matrix and everybody here (you know who you are.... lol) +70 in 4 pairs. I will upload charts when I have time. Done for today have a great weekend everybody! thanks again
doitamg,

congrats !!
I am a fallible imperfect person; so I must be a fallible imperfect trader.
  • #13,115
  • May 10, 2013 1:39pm May 10, 2013 1:39pm
Quoting itsallover
{quote} Looks pretty good SP. I've never traded anything over the 15 min timeframe. I'm assuming you'll be using the monthly pivots? Are you trading the bounces of these pivots? I was looking at the second chart you posted - the trade before the short... how would you have handled that long? Pretty big SL needed there. I do know someone suggesting to wait for the low or high of the first candle to be broken before taking a trade.
Hi Itsallover,

I don't use pivots, I like to keep my charts as clean as possible.

I think you mean the USD/CHF chart; the attached image should show what I'm going to be looking for to take a trade.

As far as the stop loss is concerned I've found a 50 pip SL to be quite good when trading H4 charts, which is my main trading TF, it's important to go with momentum if the trigger candle can't break the setup candle this shows a lack of momentum and I'll cancel the trade and be looking for a better setup.

The JPY crosses are a different story, as far as SL is concerned, it all depends on momentum and the size of the setup candle.
Attached Image (click to enlarge)
Click to Enlarge Name: 10th May 13 USD:CHF H4 Chart Genesis .png Size: 191 KB
  • #13,116
  • May 10, 2013 1:39pm May 10, 2013 1:39pm
Hi !

I'm sorry for all ! I do not understand how this could signal M5 chart?

M15 Stochastic can not show signal.

Crystall Ball...

10 min delay
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpym5.png Size: 78 KB
  • #13,117
  • May 10, 2013 4:33pm May 10, 2013 4:33pm
Thanks to all who started this thread.
  • #13,118
  • May 10, 2013 7:37pm May 10, 2013 7:37pm
Quoting Martyfish
{quote} I really dont think it is the voting system, it is that politicians of all colours have lied about the welfare state that countries can afford. We have been fooled by the debt-fuelled boom of 80s/90s/00s. We are all broke but dont/cant admit it. And people just vote for the party that promises the biggest payouts; a broken system
I see what you're saying, and you're not wrong, but the voting system plays a part in this mess too. When I was a little boy, we didn't have much money. Yes, Mum was a full time staff nurse at Dad was an aircraft engineer for British Airways (then B.O.A.C), so it's not like there wasn't a reasonable income for the 2 child family. The difference between then and now is (and you touched on this) that in the 21st century, people want everything RIGHT NOW!! And to make that happen, they will borrow as much as they need or can borrow. My parents had a mortgage, and everything else was paid for with cash...ie savings. Not enough money?.....then we can't afford it....period!! But today, young families want the house, the 2 cars, the new computers, the iphones, the overseas holidays etc etc etc etc......right down to the latte on a Saturday morning while shopping.....which goes on the credit card!

People don't seem to realise that all this borrowed money that they get from the bank, credit union or wherever, is also borrowed. The banks etc all have to borrow on the open market and this, of course, increases the countries debt....which in turn comes full circle and costs the borrower (and the not borrow) more and more.

Now, the welfare system, that you also touched on, is a huge drain on a countries balance sheet. Successive governments have bribed their way into office by offering more welfare.....usually the parties to the left are the main culprits, but they will offer more and more in order to buy votes. A simple example here: In NZ anyone at all can go to university (as long as he/she isn't a complete muppet of course). The course fee's can be borrowed via a government 'Student Loan' and if the student is away from home, he/she will receive a 'living allowance' that is equal to the dole. This living allowance does not need to be repaid. The student loans debt, even for little NZ, is in the billions of dollars.......yet.......when the last Labour govt was running out of votes, they bought the entire student block of votes by stating that if elected, all student loans would be free of any interest ....... It gets worse.......the graduate can just leave NZ and that's the end of the matter! The do not need to worry about their debt because it will be deducted from their salary at the rate of 6%, in the event that they return to NZ.

The consequence of this is that graduate doctors, teachers, pilots etc etc etc rack up a pretty big debt (interest free) and then take off overseas to earn bigger salaries than they could here......those of us left here are burdened with this debt.

There are many more examples, but you get the idea!

Now, we do have a proportional representation system here and this means (in a nutshell) that smaller parties can get a seat or more in parliament....and no ponce party can govern outright. The government is always a coalition. In order for either of the main parties to gain enough seats to govern, they need to negotiate with the smaller parties who have also won seats. During those negotiations the smaller parties state the price of their support.....for example....We have a 'Gold Card' for senior citizens which affords them discounts at various stores, bus rides, movies, ferry tickets and much more. This was sorely needed and it was gained because on of the smaller parties made that the price of their support to both the major parties. Neither of the major parties could form a govt without the support of the minor party(s) and that support costs! Further, if further on during the govts term in office they start 'going off the rails', the smaller parties can walk....and force either a backtrack in policy or they can cross the floor and vote against the govt.....they can even force a new election, which has happened.

Like I said before, they system isn't perfect, not by a long shot, but it is more in line with democracy than the FPP system or the American system...imo!
Doing what you like is Freedom. Liking what you do is Happiness.
  • #13,119
  • May 10, 2013 7:38pm May 10, 2013 7:38pm
Quoting itsallover
{quote} .... to some extent corrupt capitalism may have contributed to our inability to balance our books ... I think the main issue we have is demography and social issues to a lesser degree. And the main issue twofold. Younger people/teenagers having kids too early and expecting the state to foot the tab and older people living longer and costing the state more. Both these models were not accounted for. I could go into health issues and how the evil corporates are involved ... plus how much its costing us .... but that will be for another day....
Yup!!!
Doing what you like is Freedom. Liking what you do is Happiness.
  • #13,120
  • May 10, 2013 7:40pm May 10, 2013 7:40pm
Quoting stevepatt
{quote} Hi Itsallover, I don't use pivots, I like to keep my charts as clean as possible. I think you mean the USD/CHF chart; the attached image should show what I'm going to be looking for to take a trade. As far as the stop loss is concerned I've found a 50 pip SL to be quite good when trading H4 charts, which is my main trading TF, it's important to go with momentum if the trigger candle can't break the setup candle this shows a lack of momentum and I'll cancel the trade and be looking for a better setup. The JPY crosses are a different story,...
Steve it just occurred to me....I don't know why I didn't remember this last night.....if you do a search here on 'Olivierforex' posts, he made a study on H4 trading with Genesis. I forget how he made the SL work, but I remember it being very profitable.

Just a word in your ear....I don't agree or disagree with your candle analysis, but please keep it to yourself. We trade the system here and we don't read the candles for this. That's one reason why we use HA candles. Thanks
Doing what you like is Freedom. Liking what you do is Happiness.
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