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  • #401
  • Aug 12, 2013 7:09am Aug 12, 2013 7:09am
Hey Fresh, good to hear from you. Not much happening this NY am on the e/u , maybe some action later or on tuesday.
What would you do if you knew you could not fail?
  • #402
  • Aug 12, 2013 1:40pm Aug 12, 2013 1:40pm
Quoting The Sparrow
Hey Fresh, good to hear from you. Not much happening this NY am on the e/u , maybe some action later or on tuesday.
Hello Sparrow, hope the markets have been kind to you recently

I shall be around this week and like you say, I hope things pick up from tomorrow. Quite a bit of news out tomorrow to get things moving... August is always slower but we should still get some decent set-ups...

Catch you tomorrow.
  • #403
  • Aug 13, 2013 2:40am Aug 13, 2013 2:40am
EJ short @ 130.27
  • #404
  • Edited 4:46am Aug 13, 2013 4:34am | Edited 4:46am
I just wanna share that I also trade similar setup but using ea. The result is similar, at least for the last 3 month, this kind of trading style do generate decent profit on small drawdown. In fact this is the only one that I use now, and stop using another scalper ea and two trend following ea. While the other three generate similar result, I found that the one that using similar concept with the one presented here is the most stable one in terms of generating profit constantly with smaller period of losses.

I dunno why but at one broker my ea stop taking any trade, while the signal still generated. Maybe some broker just don't really like when trader consistently in the green.

I also want to point that the "art of the work" in the first post works not only for scalper, and maybe the one that separate a winning trader and the rest. This one is i lack and the reason I use ea in the first place.
  • #405
  • Aug 13, 2013 7:39am Aug 13, 2013 7:39am
Quoting Passerby
I just wanna share that I also trade similar setup but using ea. The result is similar, at least for the last 3 month, this kind of trading style do generate decent profit on small drawdown. In fact this is the only one that I use now, and stop using another scalper ea and two trend following ea. While the other three generate similar result, I found that the one that using similar concept with the one presented here is the most stable one in terms of generating profit constantly with smaller period of losses. I dunno why but at one broker my ea...

passerby.. there is two ways to do this.. one it's to relay on your skill for feel the heat as explained it the art of the work section as you pointed out and the other is to act firm... to act firm one needs a more of a precise entry in order to plat higher percentage win rate.
in here i have decided for people to develop market skill and go free style on entry and learn to manage trades post entry.

of course i could give you all a filter for higher W percentage rate.. and maybe its time to do so since followers have got enough experience with whats laid out already and people could have a choice now to use either way and the chance be really explosive when finding the balance between the mix of the two.
well, I see if there is enough interest then i make the time to introduce it and show a few live trades.
..this also could help the other guy who asked for a EA, however it hard to fit the tma true indi into a ea based on zoom issue there must be another tool to replace it but to act the same.
Passion, Persist, Patience, Protect
  • #406
  • Aug 14, 2013 12:02am Aug 14, 2013 12:02am
Morning All,

Currently short EJ from 130.52...

We need to break the zone between 34-37 for further downside... stops @ BE though so no risk free trade

Good luck all.
  • #407
  • Aug 14, 2013 1:44am Aug 14, 2013 1:44am
Quoting Freshpips
Morning All, Currently short EJ from 130.52... We need to break the zone between 34-37 for further downside... stops @ BE though so no risk free trade Good luck all.

Closed @ 130.16 for +35 pips. Great start to the day.


Awaiting next entry...
  • #408
  • Aug 14, 2013 4:34am Aug 14, 2013 4:34am
Great going Fresh, I'll be trading the EU this AM est.
Hey Empire, Don't hold back, you have us happy regulars that are more then eager to learn.
Thanks again for your sharing and teaching.
What would you do if you knew you could not fail?
  • #409
  • Aug 14, 2013 5:40am Aug 14, 2013 5:40am
Hi All, FXE, thanks for posting your method. Count me in as interested. I like the risk control method and am practicing with success so far.
  • #410
  • Aug 14, 2013 8:03am Aug 14, 2013 8:03am
Quoting The Sparrow
Great going Fresh, I'll be trading the EU this AM est. Hey Empire, Don't hold back, you have us happy regulars that are more then eager to learn. Thanks again for your sharing and teaching.
Thanks dude...

Thought the markets wernt great today to be honest, that was the only trade I took today.. I am working with 2 currency pairs at a time, alternating weeks based on a number of things... and the 2 pairs I traded today wernt too special. HOwever Ill take my gains from the first trade and call it a day until tomorrow...

I think the fact that we are in August (peak holiday season) is rendering the markets low on liquidity/volume so not moving as nicely...

Hope you had a green day
  • #411
  • Aug 14, 2013 8:04am Aug 14, 2013 8:04am
Quoting FXEmpire
{quote} passerby.. there is two ways to do this.. one it's to relay on your skill for feel the heat as explained it the art of the work section as you pointed out and the other is to act firm... to act firm one needs a more of a precise entry in order to plat higher percentage win rate. in here i have decided for people to develop market skill and go free style on entry and learn to manage trades post entry. of course i could give you all a filter for higher W percentage rate.. and maybe its time to do so since followers have got enough experience...

FXE,

Good to see your around...

You know im still here, anything you ever want to add to this small group then count me in.

Hope your well.
  • #412
  • Aug 15, 2013 5:53am Aug 15, 2013 5:53am
Hey, I hope everybody got in on the EU short this morning. +49 PIPS
I exited on S1 support line. You gotta love this, It works even on news day.
What would you do if you knew you could not fail?
  • #413
  • Aug 15, 2013 6:51am Aug 15, 2013 6:51am
Quoting The Sparrow
Hey, I hope everybody got in on the EU short this morning. +49 PIPS I exited on S1 support line. You gotta love this, It works even on news day.

Well done Sparrow.

I wasnt trading EU today so didnt take it. What was your entry?
  • #414
  • Aug 15, 2013 7:43am Aug 15, 2013 7:43am
Hi guys, just checked into see whats up and see some activity and interested people.. I will go ahead give the filter and how it works by showing a few pic and maybe get a couple trade in till week is out. I get it out in a minute in the following post gotta think how i want to explain this.
Passion, Persist, Patience, Protect
  • #415
  • Edited 9:59pm Aug 15, 2013 8:19am | Edited 9:59pm
Ok before I start it is evident that to achieve higher percentage win rate one would have to sacrifices some winners.. meaning if you filter the losers you be also filtering some winners, if you can't cope with that, then i suggest to stop reading the rest of this post.. lol.
for me.. i have chosen the freestyle option where i get on almost all my signals and counter it with trade management which relates to "art of the work".. but hey, here is the more firm way of trading this, try it see it works for you or not or if you could combine the two. If one can monitor more pairs and only get in on filtered signals and still work the trade management part then with enough practice under your belt could soon hit on all cylinder and make some serious money.


Ok... plot the ADX indicator default (14) and two levels of 22 and 42.
above 22 normally shows price strength.. and above 42 shows super in the current move.. this is where i want the filter to happen. Meaning when you get all confirmation for a trade to be executed, check with adx for one last confirmation to see if its below or above the 42 level mark.. if its above it, then let go of the trade.. if it's below it, execute the trade.. it's as simple as that. ADX shows the strength or flaw of the current move beyond the band, where we want to take a reversal shot.. so when it's strong it's better off to wait for a better setup later on.. perhaps when it double or triple tops/bottoms.. but you be surprised at how many times it will give you the better timing on the first try out as when price breaks beyond the band but adx shows no strength within it and good for reversal take down.. but hey, sometimes it show full strength but reverses like there is no tomorrow with out you in it. The point is that in the long run it will do more good than harm.
This filter in return of missing some move will provide you with larger wins.. meaning now you take less trades but more reliable ones for larger move than normal 15-20pips target perhaps around 30 or even 30+.. more like a short term trading but with a scalp entry.

I recommend if you want to use the filter option, then monitor more pairs and pick the very best ones.
some of my long term trades are even picked from my scalp setups and they fall so nicely that i get a +100 gain out of them at times (larger explorer).

anyways, try it see if you like it.. i hope it will serve as a good addition.
I'll show some charts in following posts.
Passion, Persist, Patience, Protect
  • #416
  • Aug 15, 2013 8:30am Aug 15, 2013 8:30am
Quoting FXEmpire
Hi guys, just checked into see whats up and see some activity and interested people.. I will go ahead give the filter and how it works by showing a few pic and maybe get a couple trade in till week is out. I get it out in a minute in the following post gotta think how i want to explain this.
Hi FXEmpire ,
I've now read the entire thread and am quoting your last post because I want to ask , is this filter something you already use and your results in the linked explorer are a reflection of this, or is this a new filter you've come up with as a result of constant requests and or to help new traders to have a better understanding of your method?
Thank you for sharing this , it's a great thread.
  • #417
  • Aug 15, 2013 8:39am Aug 15, 2013 8:39am
just a couple of chart example for view of signals with adx... with some winners being filtered as well. i am just giving you the look of it thats all so you get the idea. also i have plot the adx on top of the macd for less chart use, if want it to look like mine.. first plot the adx then plot the macd on top of it.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: eurusdm5 x.png Size: 86 KB
Passion, Persist, Patience, Protect
  • #418
  • Aug 15, 2013 8:50am Aug 15, 2013 8:50am
Quoting Damien1881
{quote} Hi FXEmpire , I've now read the entire thread and am quoting your last post because I want to ask , is this filter something you already use and your results in the linked explorer are a reflection of this, or is this a new filter you've come up with as a result of constant requests and or to help new traders to have a better understanding of your method? Thank you for sharing this , it's a great thread.
dear Damien.. the current explorer above is not as a result of my scalping.. its my long term trading but at times i do take scalp trades and people could follow it live when i announce it before hand.

I have not come up with this filter just now.. i been trading this way for a long time.. i may not use this very same filter as i more relay on my eyes and the price movement.. for example when i see a super sharp move with band striking then i wait for a weak double top/bottom with then take shot with macd confirmation. but i have found through out the years that adx is not a bad tool to measure strength to some degree if you know what your doing, so i decided to introduce this with adx filter.
The way i go by teaching is to keep it simple and show it by steps... i wanted everyone at first to really go at it freestyle and some what understand and develop the hands on skill instead of relaying on tools right from the get go.. i think now after some time of free styling and practicing many signal of bad and good one can fit a tool into the picture much better with better understand of its true essence.

I hope it makes sense.
Passion, Persist, Patience, Protect
  • #419
  • Aug 15, 2013 9:07am Aug 15, 2013 9:07am
this chart is a good example to get a good idea on how it times the winner better, (it's Tuesdays ej chart)
as you see 3 perfect signals two fake outs and one winner.. with adx filter time the weakening of the move on very top at the correct timing ready for the drop or at least not a quick turn for sl hit or loss like the previous two by providing the only winner.
Attached Image (click to enlarge)
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Passion, Persist, Patience, Protect
  • #420
  • Aug 15, 2013 9:32am Aug 15, 2013 9:32am
chart is pretty self explanatory.. this is a live scenario as its happening right now..

now i go for a walk in the yard with glass of vino, lol.. i check back in a bit to attend to your questions or concerns or see your live trade off this very possible setup or other scenario with the new stuff..
good luck
Attached Image (click to enlarge)
Click to Enlarge Name: eurusdm52.png Size: 99 KB
Passion, Persist, Patience, Protect
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