Not So Squeezy - Trading Manual by Akuma99

Hi Akuma,

Have been following your journal with interest, I don't know if this will help you at all but I have also been following a thread on another forum that has a lot of similarities, i.e deals with a BB squeeze into a Starc band, then trades the breakout, the full thread got confusing, then got deleted but here are the original posts plus a word doc that I put together to help me visualize the set-ups.

The indicator shown RSI-TC shows the candle when the BB's have been inside the Starc band and breaks out (red and green dots).

Have a look if you have time, there maybe something you can use.

This is the original system as posted : http://www.forex-tsd.com/31574-post36.html

This is an explanation chart :
http://www.forex-tsd.com/31224-post31.html

Heres the RSI-TC indicator :
http://www.forex-tsd.com/33150-post40.html

Heres my word doc that I put together so I could see the A1 setups.

As I say, take a look, there maybe something to ponder.

Thats fantastic scorpion thanks! ... I will look through everything you have provided and let you know what I think, thanks again

Akuma,

This system has put my trading to the next level. I am very appreciative of that. Thank you. Everyone says "go with the trend" well, this is the way to determine the strength of a trend. And to watch price go through to the middle of the purple MA's and just touch the 200 SMA to watch it bounce right back in the opposite direction for many pips. ROCK ON DUDE!! BTW, great manual. And I bet this system even gets better when you look at the info Scorpion posted. Woo Hoo!!!

renasdad, that's great to hear, I hope your progress continues like a well spread rainbow

You will note in the Manual I make reference to counter-trend trades, this is something I have not mastered and would love to hear some thoughts on. I suspect this is essentially a higher risk extension to the existing method that might be best avoided, but would love to hear others thoughts and ideas.

Akuma,

I had previously downloaded the indicators and template from your journal (which I'm getting a great deal from, newbie that I am).

Having a little trouble integrating the new stuff though - I have no Keltner channels on the main chart. Could you suggest what I might have done wrong?

Also, the basic squeeze compiles with errors and comes up blank when I load it...

Really like the manual and your journal. Thanks for any help you can give to make my charts correspond to the manual.

Lou G

Lou the errors you see for the basic version aren't actually errors, just warnings about functions not being called, you are most likely getting a blank window as the Basic version tries to look 3000 bars back for calculation, if you have not scrolled back in time that far then it can't calculate.

I have attached a new zip in the first post with the Basic version tidied up and looking only 300 bars back, so it should work straight away, also I have added the Keltner Channels indicator, not that you need it for this system, but in case you want to duplicate the first couple of graphs in the manual.

Hope it helps

Thanks for your extremely prompt help - since I'm new to Forex in general
and VERY new to your method, having my template match the one in the manual is extra helpful.

Lou G

Hi Akuma99,


I was reading stuff on GMA(guppy) and chanced upon ur journal and started following it. I immediately like it as it show newbie like me on ur thoughts and rational which is more impt then any signals.
I read somewhere in the journal, u once have numerous indicators left right center, which happened to me last week. Ur posting gave me a good wake up call as i started out on solely on candle chart reading+SMA crossing+trendlines. Candlesticks are excellent but i felt it wasnt the best and most of the time i cant capture the trend. Most of the time i am scalping 20-50pips. After following ur journal for 2 days, i really appreciate what u did. The sharing, the system,etc. Now the journal! Wow i am really grateful.

So i really like to say thank you. Do keep up the excellent journal, it is excellent source of learning.

thanks ellipses for the kind words Everyone trades differently, and everyone's brain processes information in a different way, I personally can visualise things pretty well, where my wife has to have everything written down, everyones brain is wired in their own unique way.

It is common, I would say almost mandatory, for every trader to go through a stage where there are indicators galore on their charts, it is human nature to want to have something show you the easy way, or to have something to blame if things go wrong such as "I must have the wrong settings on my RSI" and the like.

I have less a problem with indicators these days than I used to, but it makes me cringe when seeing a chart with four oscillators, they are after all, usually telling you the exact same thing, so you aren't actually confirming anything at all. It's like someone telling you your brother is your sister, if that persons three friends tell you the same thing does it make it any more right? (just for clarity I am sure my sister, is indeed my sister) of course not. If your indicators are all from the same family, then you are getting the same message from the same perspective multiple times. Time to get a "second opinion".

The main thing is to know what you are using the indicator for, understand what it is trying to tell you. The amount of "experts" I see on some of these analysis sites who have the RSI, Stochastic and Demarker on their charts, with something like the MACD and Momentum below it is just amusing. Why do you need three indicators telling you overbought/oversold indicators and two momentum indicators? Believe me they are everywhere and just prove to me there are an awful lot of insecure traders disguising themselves as experts.

Akuma, I'm going to go ahead and steal quite a bit from you; for the HAT method

Nice job.

Sure thing, steal away, I hope it helps, Ill check in your HAT method now and then

Greetings Akuma, thank you for your generocity. I recently purchased "Better Trading with the GMMA video, what a great item. And it appears your manual will add much to the use of the GMMAs.

Cheers,
Thom

Thank you for the PDF. I felt it was very well written and very well explained. I Learned a lot. Thank you. It was an enjoyable read.

Great Work, better then any retail Forex books in the market, real traders system. Thanks

Gee thanks for the compliment (there are some fine retail publications out there though ), it is encouraging to see my mindless ramblings can help some others. Perhaps I'll put something else together one day.

I've been looking at chart patterns prior to the breakout and i've been trying to find some consistent or at least probable formations that can give extra confirmation to the direction. Can you comment on this from your experience?

I was looking at up pennants which seem to break down a lot?? 1 hour USDCHF

Also on the USD/CHF i've noticed a regular 4 to 5 humps in the consolidation
phase which I thought may give a clue to timing. 1 hour chart

I suppose what i'm asking is do you use chart patterns around the breakout with any degree of success?

Another common thing I notice is a false breakout move which then reverses to true direction, sometimes it's enough to give you some profit if you are quick but if you let it run it can hit your stop.

I'm still practising and learning so I apologise if these questions are off base or inept.

Thanks.

Hi minute, and your questions are good ones. Breakout trading can be one of the most rewarding, yet most frustrating methods at times, as it can get you in at the bottom, or top of moves, but can also wiggle you out with some "head fakes" here and there as well, until a breakout trader accepts that this will happen and react accordingly the frustration will build.

Wedges, triangles (ascending, descending, equilateral), rectangles, penants, flags, they are all a variation on one theme, an extending consolidation period that is either indicating that the market is resting, or it is thinking. Flags are very commonly seen in sharp excited moves, and more often than not indicate the market is resting for a second push in the same direction.

The studies on these patterns at times can be inconclusive, however they have found there is a slight upward bias for ascending triangle, downard bias for descending triangles etc, however you need to trade them consistently and know how to manage a trade to ensure these are profitable for the long term (as it is with most trading systems).

I do take note of chart patterns as we move into these consolidation periods, and depending on my weekly position, my agression in terms of opening a trade varies. You noted that there are times where the consolidation period extends to 4 or 5 peaks and troughs, if you see an extended period like that, chances are you are seeing the lead up to a major economic news event (especially if it is off longer term charts). Keep this in mind when trading, some like to sit these periods out, others trade them aggressively, while others wait a period of time for confirmation (to avoid the classic head fake scenario).

In summary, yes I find chart patterns useful and a good aid to my trading, but I do not trade them by themselves. Hope some of this makes sense

What I like about your system is that it can accommodate ranging, breakouts and trending markets. I would read with interest any additional material you write.

Thanks

Akuma, I'm having the same problem. I get a blank screen when I go to download the .pdf. I have adobe and foxit readers installed.

Blizz, the solution for pepotg was to go to the link below and download the latest version of Acrobat Reader, perhaps you can try the same:

http://www.adobe.com/go/gntray_dl_get_reader

Let me know if it doesn't help.