Islander and Medici trade the European open | Page 221 | Forex Factory

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Islander and Medici trade the European open

  • #4,401
  • Jan 9, 2014 4:16am Jan 9, 2014 4:16am
Thats where I went wrong yesterday.

The ADX lines were falling, no Bollinger Squeeze and although the trend was right I got stopped out.
  • #4,402
  • Jan 9, 2014 9:10am Jan 9, 2014 9:10am
Quoting figgsey
Thats where I went wrong yesterday. The ADX lines were falling, no Bollinger Squeeze and although the trend was right I got stopped out.
Well its good that you can see that. IMO patience in waiting for all of the indicators to line up is not easy, but with my 5m multi showing where a 1m entry is most probable, the wait should not be too onerous with four potential condidates....EJ being the most recent example as Draghi-s speach turned € down putting it in harmony with the already falling UJ.....
Trading Levels with WRBs
  • #4,403
  • Jan 9, 2014 9:49am Jan 9, 2014 9:49am
Quoting Islander
{quote} Well its good that you can see that. IMO patience in waiting for all of the indicators to line up is not easy, but with my 5m multi showing where a 1m entry is most probable, the wait should not be too onerous with four potential condidates....EJ being the most recent example as Draghi-s speach turned € down putting it in harmony with the already falling UJ.....
Thanks for that, I see that you have modified Alien's ADX default params - I think?

What params are you using/experimenting with?

I still think the m15 HA crossover is key for some large pips
  • #4,404
  • Jan 9, 2014 10:50am Jan 9, 2014 10:50am
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}
Hi, Capitain, thanks so much for your posts.
Those helped me a lot in building confidence of M5 M1 trading.
I notice you began to use some indicators from Alien's thread.
At first sight of the chart, it seems so noisy, doesn't it?

I use TDI, a kind of RSI, for a long time.
This chart of DAX30 shows how we can keep in the trade for a longer time by using TDI.
In M5 we got the signal to entre the trade even before the arrow signals at 13:40.
The yellow line tells higher time frame direction is downward so that we stay in the trade.
Below 50 stay in the trade .
Below 32 we wait for the hook of green line. you you can see in M1 became to make a double bottom and the Volume tells us it's time to exit.
Attached Image (click to enlarge)
Click to Enlarge Name: dax.jpg Size: 464 KB

We may add 20 40 60 lines in using TDI which helps a lot in trading.
(Got this information from RSI - The complete Guide - John Hayden)
Attached File(s)
File Type: mq4 Traders_Dynamic_Index.mq4   9 KB | 152 downloads

Attached File(s)
File Type: ex4 Traders_Dynamic_Index.ex4   5 KB | 191 downloads

One question, for the MA slope in M1 which setting doyou use?
If you use EMA 25 in M1 chart then you set it at like this?
Attached Image

If you use EMA30 you just change 25 into 30 right?
  • #4,405
  • Jan 9, 2014 11:15am Jan 9, 2014 11:15am
Quoting xiaoxin
{quote} Hi, Capitain, thanks so much for your posts. Those helped me a lot in building confidence of M5 M1 trading. I notice you began to use some indicators from Alien's thread. At first sight of the chart, it seems so noisy, doesn't it? I use TDI, a kind of RSI, for a long time. This chart of DAX30 shows how we can keep in the trade for a longer time by using TDI. In M5 we got the signal to entre the trade even before the arrow signals at 13:40. The yellow line tells higher time frame direction is downward so that we stay in the trade. Below 50...
Hi Xiaoxin, noise is always a problem when you add indicators to help make up a comprehensive set of objective trading rules - and for me this remains work in progress. Thanks for the TDI - I seem to remember trying it before....I've pulled ip a Dax chart with one of my templates - the green stoch, slower ADX lines and RSIOMA all told us to stay short for all of that drop and using the TVI, as I did a lot in the past, would show good divergence at the lows - but the **00 and volume tells you to bank too!

Yes to your dashboard ?

Regards
Attached Image (click to enlarge)
Click to Enlarge Name: jan9 dax 1m 1705.png Size: 39 KB
Trading Levels with WRBs
  • #4,406
  • Jan 10, 2014 3:02am Jan 10, 2014 3:02am
Everything looked good for EJ & GJ this morning at 7:35. UJ was turning south, the m30 stochs were angled & moving in the right direction, Adv ADX printed short, the m5 matrix printed 3 of 4, the m1 matrix looked good too & of course RSIOMA was under 50 & heading under 20; it was the perfect storm so I entered both trades. Unfortunately after failing at some slight resistance for a second time I felt it was all going a bit too slowly & I'm thinking that the liquidity just isn't there in Europe this morning with the US data coming out later on so I bailed on both at 8:14 for a few pips each. I see that GJ would have given me rr 1:1 if I had stuck with it. Maybe I should be more patient but it just didn't feel right. Covered the weeks commissions at least (trying to be positive!).

I think Aliens systems/ indicators are great tools. They give you confidence when entering slightly earlier that the matrix print. Still room for refinement but so far so good.

What a setup at 7:35; here's GJ, starting with the 5m, then 2 1m charts (matrix & Aliens).
Attached Images
  • #4,407
  • Jan 10, 2014 3:22am Jan 10, 2014 3:22am
Quoting Sober_Colm
Everything looked good for EJ & GJ this morning at 7:35. UJ was turning south, the m30 stochs were angled & moving in the right direction, Adv ADX printed short, the m5 matrix printed 3 of 4, the m1 matrix looked good too & of course RSIOMA was under 50 & heading under 20; it was the perfect storm so I entered both trades. Unfortunately after failing at some slight resistance for a second time I felt it was all going a bit too slowly & I'm thinking that the liquidity just isn't there in Europe this morning with the US data coming out later on so...

Great that you've banked some this morning - almost no action in front of UK Mfg data in ten mins and NFP later. I'm liking my new 5m multi screen for an overview to keep my 1m entries on the right track....very easy to read the info....
Trading Levels with WRBs
  • #4,408
  • Jan 10, 2014 6:30am Jan 10, 2014 6:30am
Hi Capt,

Likewise - its been a quiet and noisy Friday with no good set ups for me.

Just a thought, are you OK with me posting a non-compliant screen shot?
  • #4,409
  • Jan 10, 2014 6:38am Jan 10, 2014 6:38am
Quoting figgsey
Hi Capt, Likewise - its been a quiet and noisy Friday with no good set ups for me. Just a thought, are you OK with me posting a non-compliant screen shot?
No Problem with your SS - now lunch before NFP.....
Trading Levels with WRBs
  • #4,410
  • Jan 10, 2014 10:14am Jan 10, 2014 10:14am
Quoting Islander
{quote} No Problem with your SS - now lunch before NFP.....
Thanks Sir, will do later.
  • #4,411
  • Edited Jan 11, 2014 9:15am Jan 10, 2014 10:58am | Edited Jan 11, 2014 9:15am
Quoting Islander
Great that you've banked some this morning
Well, not quite, total profit 5p off a total stake of 30!

I've tried a similar m5 setup to you so I can see all pairs at once as flicking between 5m pairs is right hassle & I always feel like I'm going to miss something. Good call, it's much easier to see which pair is developing in your favour; thanks for the pointer.

Though I haven't been trading, just looking briefly this afternoon, the system with m30 stoch, matrix, adv adx on the m5 & then the matrix & RSIOMA on m1 throws up some decent signals, examples being GU 14:48 & 16:10, the former good for over 30p, the latter good for over 10p down to DPV & beyond. Getting everything on to the 1m template is a challenge though & I definitely have a lot going on there at present though it all adds value so happy enough with it. Here's that latter trade as an example (m5 first), a sea of red & green!:
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  • #4,412
  • Edited 5:59am Jan 12, 2014 5:49am | Edited 5:59am
I'm considering using the 15m RSIOMA as my longer term filter (thanks Alien & Goodgame).......WIP for this week.....the Delayed Stoch cycles from OB (BZ) to OS (SZ) whilst RSIOMA remains in the Buy Zone giving additional entries....
Attached Image (click to enlarge)
Click to Enlarge Name: gj 15m 30 dec.png Size: 45 KB
Trading Levels with WRBs
  • #4,413
  • Jan 12, 2014 9:48am Jan 12, 2014 9:48am
This is my thinking too - and to only trade the m15 trend. Any longer and you risk, partic with PVSRA having to deduce whether MM are running for profit or hiking. Whole numbers are significant however. Strange was that your take from the Sonic thread too?

Coming back to m15 trend analysis... things do get interesting when you also take a gander at the HA.

I still need to do some correlation analysis
Attached Image (click to enlarge)
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  • #4,414
  • Jan 12, 2014 11:43am Jan 12, 2014 11:43am
Quoting Islander
I'm considering using the 15m RSIOMA as my longer term filter (thanks Alien & Goodgame).......WIP for this week.....the Delayed Stoch cycles from OB (BZ) to OS (SZ) whilst RSIOMA remains in the Buy Zone giving additional entries.... {image}
You're welcome !
I think you can combine Genesis Matrix with Alien and you will give very good results !
Trade Safe !
  • #4,415
  • Jan 13, 2014 1:48am Jan 13, 2014 1:48am
Quoting Goodgame42
{quote} You're welcome ! I think you can combine Genesis Matrix with Alien and you will give very good results !
I agree and using the GM with just a couple of Alien's indys is IMO sufficent for a visual alert and this lets my old desktop show several contracts - it easily works its CPU at 100% if I start adding all of them!.....even my 1 year old lappy with an I5 and 4GB Ram gets hot and bothered if I load too much!
Trading Levels with WRBs
  • #4,416
  • Jan 13, 2014 2:15am Jan 13, 2014 2:15am
My actual chart set up for this week - sold in the 7:25 bar and took ~ 10 pips after the minor support at 6478 held - a pre LO trade so I didnt expect much. On my 5m multi, GU was a sell, but UJ an unconfirmed buy, so no trade in GJ.....
Attached Image (click to enlarge)
Click to Enlarge Name: jan13 gu multi 0911.png Size: 177 KB
Trading Levels with WRBs
  • #4,417
  • Jan 13, 2014 2:24am Jan 13, 2014 2:24am
Quoting Islander
My actual chart set up for this week - sold in the 7:25 bar and took ~ 10 pips after the minor support at 6478 held - a pre LO trade so I didnt expect much. On my 5m multi, GU was a sell, but UJ an unconfirmed buy, so no trade in GJ..... {image}
PS Sold again at 8:15....just following these signals...1m green stoch + RSIOMA.....50% retrace @ 6445 and minor S&R 10 pips lower
Trading Levels with WRBs
  • #4,418
  • Edited 2:44am Jan 13, 2014 2:31am | Edited 2:44am
USD was strengthening v EUR, GBP & JPY (after weakness) so took the GU signal which looked good across the board & also had a distinct profit release look about it when looked at without HA candles . It came at 7:30 but I was away from the desk & didn't get in till 7:32, for a loss of 2p. Anyway, price moved to today's open & past so I bailed at 7:57 before LO at rr 1:1. I appreciate that if I move to m5 & m15 everything looks good for holding short but I just prefer to bank as I fear having actual profit eroded, especially after LO. I will have to study this in more detail as I'm missing out on pips here (I see just now I'd have bagged another 40p if I had held on down to DPV & beyond). Still, the signal was there & it called it right so I'm happy with that. Here it is, m5 on the left.

Edit: Seeing the post in Alien's thread, I guess I can always bank & re-enter if the conditions are right!
Attached Images
  • #4,419
  • Jan 13, 2014 3:15am Jan 13, 2014 3:15am
Quoting Sober_Colm
USD was strengthening v EUR, GBP & JPY (after weakness) so took the GU signal which looked good across the board & also had a distinct profit release look about it when looked at without HA candles . It came at 7:30 but I was away from the desk & didn't get in till 7:32, for a loss of 2p. Anyway, price moved to today's open & past so I bailed at 7:57 before LO at rr 1:1. I appreciate that if I move to m5 & m15 everything looks good for holding short but I just prefer to bank as I fear having actual profit eroded, especially after LO. I will have...
As I see it now - with the old 20/20 hindsight! - Alien - was saying stay in and at my first exit and there was no divergence from TVI - so at the most bank half and then re-enter.....

At the next S&R level, with increased volumes, I clucked and banked. Now I can see that I was impatient and should have waited for the TVI to show divergence...it then did so at the MS1 level, so a classic MR1 to MS1 move which I was shown many years ago....
Attached Image (click to enlarge)
Click to Enlarge Name: jan13 gu 1m 0906.png Size: 48 KB
Trading Levels with WRBs
  • #4,420
  • Jan 13, 2014 4:04am Jan 13, 2014 4:04am
A Genesis view....
Attached Image (click to enlarge)
Click to Enlarge Name: jan13 gu 1m 1000.png Size: 46 KB
Trading Levels with WRBs
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