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Islander and Medici trade the European open

  • #4,381
  • Jan 7, 2014 4:13am Jan 7, 2014 4:13am
Quoting Islander
@ Dr Scalpall, figgsey, Rooi & SoberColom.....if you guys would like my word doc copying Alien's posts please send me a PM with your email.....
Thanks for the kind offer Islander.

I have been studying EURUSD this am and it is still ranging (looking at the 1HR cloud formation. I could do with getting a better handle on interpreting ADR values. I guess that the larger the value the bigger the potential swing...?
  • #4,382
  • Jan 7, 2014 5:37am Jan 7, 2014 5:37am
Quoting figgsey
{quote} Thanks for the kind offer Islander. I have been studying EURUSD this am and it is still ranging (looking at the 1HR cloud formation. I could do with getting a better handle on interpreting ADR values. I guess that the larger the value the bigger the potential swing...?
You'll find plenty of info in the doc I've mailed you and the others
Trading Levels with WRBs
  • #4,383
  • Jan 7, 2014 5:57am Jan 7, 2014 5:57am
1m GH posted in A's thread......this reinforces my interest in GJ....
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Trading Levels with WRBs
  • #4,384
  • Jan 7, 2014 9:23am Jan 7, 2014 9:23am
Quoting Islander
1m GH posted in A's thread......this reinforces my interest in GJ.... {image}
Well done, I could find the right set up with EURUSD, but got in earlier on a little GBPJPY breakout - thanks to you.

I am still trying to get my hand around transitioning from a short-term day (1-3) trader to a PIP Pirate
  • #4,385
  • Jan 7, 2014 9:55am Jan 7, 2014 9:55am
Quoting figgsey
{quote} Well done, I could find the right set up with EURUSD, but got in earlier on a little GBPJPY breakout - thanks to you. I am still trying to get my hand around transitioning from a short-term day (1-3) trader to a PIP Pirate
IMO it's best to just focus on one contract and I'm starting to think just the 1m & 5m alien type - or Genesis if that's easier for you - charts. Use a plainer higher TF to see the S&R levels etc....I'm posting more complex ideas here as I dont wish to cause confusion with the newbies that appear in every active thread....

This multi chart show what kept me this afternoon from entering in Ej or UJ......sells in EU and GU but a buy in UJ = conflict.....
Attached Image (click to enlarge)
Click to Enlarge Name: jan7 multi plus uj 1558.png Size: 110 KB
Trading Levels with WRBs
  • #4,386
  • Jan 7, 2014 10:26am Jan 7, 2014 10:26am
GJ ruled out because of "conflict" so trade GU itself.....all Aliens indys lined up and the M30 stoch was down too so sell for a nice 25 pips or so........potential buy not allowed as M30 stoch (dark orchid) still going down....BFN
Attached Image (click to enlarge)
Click to Enlarge Name: jan7 gu 1m5m 1621.png Size: 180 KB
Trading Levels with WRBs
  • #4,387
  • Jan 7, 2014 1:39pm Jan 7, 2014 1:39pm
Hi Islander, are you now using EMA 30 for the +/- 4p bands on all charts? Cheers.
  • #4,388
  • Jan 7, 2014 2:01pm Jan 7, 2014 2:01pm
Quoting Sober_Colm
Hi Islander, are you now using EMA 30 for the +/- 4p bands on all charts? Cheers.
yes, now that I'm no longer posting in the Genesis thread I've gone back to my old 3D setting - in fact there is little difference between the 25, 30 or even 34 emas as I'm using them
Trading Levels with WRBs
  • #4,389
  • Jan 7, 2014 4:12pm Jan 7, 2014 4:12pm
Quoting Islander
GJ ruled out because of "conflict" so trade GU itself.....all Aliens indys lined up and the M30 stoch was down too so sell for a nice 25 pips or so........potential buy not allowed as M30 stoch (dark orchid) still going down....BFN {image}
Thanks, also do you still use M5 and M15 Stochs on the M1 TF?
  • #4,390
  • Jan 8, 2014 1:47am Jan 8, 2014 1:47am
Quoting figgsey
{quote} Thanks, also do you still use M5 and M15 Stochs on the M1 TF?
no - too much clutter with Alien-s stochs too, although I still have my Genesis template, so I can take a look if I want to....
Trading Levels with WRBs
  • #4,391
  • Jan 8, 2014 2:21am Jan 8, 2014 2:21am
Advanced tip.....UJ turned up at FO and cable shortly after, so buy GJ......€ already heading down, so when UJ turned south at LO, sell EJ
Attached Image (click to enlarge)
Click to Enlarge Name: jan8 5m multi lo.png Size: 107 KB
Trading Levels with WRBs
  • #4,392
  • Edited 8:07am Jan 8, 2014 2:39am | Edited 8:07am
It was Euro weakness I was stalking this morning & the EU signal came first so entered at 7:31. Both m5 & m1 matrices looked good (I don't really concern myself with T3) with the 30m stoch perfectly angled & RSIOMA firmly in the sell camp. I possibly could have held off for the Drake Delay stoch/ Advance Adx to print more solidly for an extra pip or 2 but, like everything, they are lagging so if you wait you could miss the train. Exited on stall at MS1/ **00 area (bear in mind that I like to get in & out of a trade before 8:45 GMT due to work commitments). RR 1.5:1.
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  • #4,393
  • Jan 8, 2014 5:20am Jan 8, 2014 5:20am
So far so good for me - scalped a little USDJPY earlier.

My scalps are too small though as I exit too early. Do you exit by only looking at the 1M as I do?
Another observation is with the ATR indicator... perhaps TAH was right about MM pumping/dumping around whole numbers.

Also - what for you was the biggest value add to your method, ported from Alien? Is it the RSIO indicator?

Ta
  • #4,394
  • Jan 8, 2014 5:59am Jan 8, 2014 5:59am
Quoting figgsey
So far so good for me - scalped a little USDJPY earlier. My scalps are too small though as I exit too early. Do you exit by only looking at the 1M as I do? Another observation is with the ATR indicator... perhaps TAH was right about MM pumping/dumping around whole numbers. Also - what for you was the biggest value add to your method, ported from Alien? Is it the RSIO indicator? Ta
Work in progess, so too early to say that I have my definitive version.....the BBs (or possibly the Squeeze Light) and the change of colour of the Advanced ADX are good alerts.

The 50 crosses of the green stoch and RSIOMA are good entry signals almost the same as the matrix.

The large gap between RSIOMA and the delayed stoch is also very useful.

Learning how to use the ADXs is taking more time / practice and Alien has yet to talk in detail about the stochs window and MTFs.....
Trading Levels with WRBs
  • #4,395
  • Jan 8, 2014 6:30am Jan 8, 2014 6:30am
Quoting Islander
{quote} Work in progess, so too early to say that I have my definitive version.....the BBs (or possibly the Squeeze Light) and the change of colour of the Advanced ADX are good alerts. The 50 crosses of the green stoch and RSIOMA are good entry signals almost the same as the matrix. The large gap between RSIOMA and the delayed stoch is also very useful. Learning how to use the ADXs is taking more time / practice and Alien has yet to talk in detail about the stochs window and MTFs.....
I wonder whether the BB indicator is based on John Carters Squeeze Break...I have used this in the past to confirm noise/trend PA.
  • #4,396
  • Jan 8, 2014 8:26am Jan 8, 2014 8:26am
WIP continues.....probably closed too early re Alien......TWT
Attached Image
Trading Levels with WRBs
  • #4,397
  • Jan 8, 2014 10:17am Jan 8, 2014 10:17am
I got on the wrong side of a USDJPY trade just looking at M1/M5 stochs and HA. Ouch

Yes, I am still analysing Alien's setup but also how it can confirm a trend in a longer TF
  • #4,398
  • Jan 9, 2014 3:28am Jan 9, 2014 3:28am
EU, GU, EJ, GJ all had the 30m stoch up over 80 from FH so was looking for a sell at some point when these moves ran out of steam & either USD or Yen found some strength.

I jumped the gun on EJ, entering at 7:35. The 30m stoch hadn't yet come back under 80 & there was little or no confirmation from the matrices/ ASC Trend 2TF & the 21, 10, 10 stoch wasn't nicely angled, though it was green. Terrible entry all round, the only thing going for it was the RSIOMA crossing under the 50. I exited at 7:50 when RSIOMA crossed back up over the 50 after a small bb squeeze for a loss off 1/2 my stake. Awful trade but I guess you learn from your mistakes!

Took a better trade at 8:31, GU sell down to today's open. ADX (I'm using 7,21 as I trade over such short periods) ran out of steam at that line so closed at 8:53 for rr 1:1.

I still like the idea of keeping the matrix as a part of my overall setup to some degree though I have to agree Aliens systems definitely give you earlier signals.
  • #4,399
  • Jan 9, 2014 3:35am Jan 9, 2014 3:35am
WIP continues.....I've modified my 5m filters for my Im entries and this allows me easily see which out of Cable, GJ & EJ is set up for a 1m entry.

The filters are: 30m stoch, Advanced ADX colour and G Matrix....

Edit: whoops, I missed out the BBs on my GJ chart - worth watching too....
Attached Image (click to enlarge)
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Trading Levels with WRBs
  • #4,400
  • Edited 4:15am Jan 9, 2014 3:38am | Edited 4:15am
Quoting Sober_Colm
EU, GU, EJ, GJ all had the 30m stoch up over 80 from FH so was looking for a sell at some point when these moves ran out of steam & either USD or Yen found some strength. I jumped the gun on EJ, entering at 7:35. The 30m stoch hadn't yet come back under 80 & there was little or no confirmation from the matrices/ ASC Trend 2TF & the 21, 10, 10 stoch wasn't nicely angled, though it was green. Terrible entry all round, the only thing going for it was the RSIOMA crossing under the 50. I exited at 7:50 when RSIOMA crossed back up over the...
.....my post should help.....

PS as you noted, the M30 stoch was OB, but during FH was still climbing and did not flatten until ~8:30 gmt....IMO this was THE best filter that I found in the Genesis thread
Trading Levels with WRBs
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