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tnavi´s channel of fortune

  • #301
  • Jan 29, 2014 10:06pm Jan 29, 2014 10:06pm
looks good to enter in a buy now, because we are in the down sice of the channel and on a possible support area.

BUT, its better to wait that price made the 1,2,3 patterns and THEN, (with rsiomaconfirm.) enter buying.

Attached Image (click to enlarge)
Click to Enlarge Name: Captura de pantalla de 2014-01-30 05:00:38.png Size: 35 KB


advice: you can enter long, but is a risk trade.
MY telegram channel: https://t.me/https://t.me/tnavieurusd
  • #302
  • Edited 11:37pm Jan 29, 2014 10:56pm | Edited 11:37pm
Quoting tnavi
looks good to enter in a buy now, because we are in the down sice of the channel and on a possible support area. BUT, its better to wait that price made the 1,2,3 patterns and THEN, (with rsiomaconfirm.) enter buying. {image} advice: you can enter long, but is a risk trade.
Am already long tnavi.

Price crossed my EMA5, shift3 (ala Eel Franz ) and that is good enough for me.

IF this entry doesn't work, I can always open another buy basket at a later period.

Let's watch and see. Good job tnavi.

Regards,

Ty
Attached Image (click to enlarge)
Click to Enlarge Name: tnavi_ema5_entry.png Size: 70 KB
My job: I speculate and manage risk.
  • #303
  • Jan 30, 2014 4:20am Jan 30, 2014 4:20am
Quoting TyLamai
{quote} Am already long tnavi. Price crossed my EMA5, shift3 (ala Eel Franz ) and that is good enough for me. IF this entry doesn't work, I can always open another buy basket at a later period. Let's watch and see. Good job tnavi. Regards, Ty {image}
I see that price is NOT done going south yet...I will open ANOTHER basket once (IF!) RSIOMA crosses the 20line upwards.

Watching and waiting...

Ty
My job: I speculate and manage risk.
  • #304
  • Jan 30, 2014 5:46am Jan 30, 2014 5:46am
Quoting TyLamai
{quote} I see that price is NOT done going south yet...I will open ANOTHER basket once (IF!) RSIOMA crosses the 20line upwards. Watching and waiting... Ty
Hello Ty,
.. i can see you are pretty excited about this setup. I have already mentioned it to tnavi before, DOUBLING DOWN is a bad habit. The basic survival trading rule is NEVER TO ADD TO A LOSING POSITION.
i have traded some doubling-down/martingale systems...It is fun and has no dull moment...but most of the time you are counter-trend trading. You get lucky a lot, but you just need one or two losses to clean out all your gains and sometimes even your account. When the RSIOMA is above 80, that is very bullish strength...selling there is risky and so is buying below the 20 line.

Tnavi does it on a demo acct, me i say do not do it at all....I really do not encourage bad habits, you try on a demo acct, it works several times..then you get tempted to do it live. Eitherway, make sure you have an SL..
It is possible to make large sums trading, small losses, large wins
  • #305
  • Jan 30, 2014 6:44am Jan 30, 2014 6:44am
Quoting omadivi
{quote} Hello Ty, .. i can see you are pretty excited about this setup. I have already mentioned it to tnavi before, DOUBLING DOWN is a bad habit. The basic survival trading rule is NEVER TO ADD TO A LOSING POSITION. i have traded some doubling-down/martingale systems...It is fun and has no dull moment...but most of the time you are counter-trend trading. You get lucky a lot, but you just need one or two losses to clean out all your gains and sometimes even your account. When the RSIOMA is above 80, that is very bullish strength...selling there...
Lol! You got me!

I DON'T do this live o! Am just testing along with Tnavi - but you hit it dead on when you said "me i say do not do it at all....I really do not encourage bad habits, you try on a demo acct, it works several times..then you get tempted to do it live."

The WHOLE idea of "testing it" is so that it can be used live!

But don't you think we can - like you said - employ a SL and THEN use it? I know tnavi uses the most recent LH-HL as a sort of SL. What do you say to that?

Also...did you see tnavi's attached images depicting his results with this system? Awesome to say the least.

So I guess my question is:

HOW can this system be bettered - IF that is possible?

As usual sir I completely appreciate and WELCOME your wealth of knowledge on these matters! Thanks.

Regards,

Ty
My job: I speculate and manage risk.
  • #306
  • Jan 30, 2014 7:49am Jan 30, 2014 7:49am
the price made 1,2,3 pattern and breaked the trendline and now, is a good moment to enter in the buy.

BUY!

Attached Image (click to enlarge)
Click to Enlarge Name: Captura de pantalla de 2014-01-30 14:43:54.png Size: 35 KB


i know that rsioma dont cross the 20 level, but we can win some more points extras.
MY telegram channel: https://t.me/https://t.me/tnavieurusd
  • #307
  • Jan 30, 2014 7:52am Jan 30, 2014 7:52am
Quoting TyLamai
{quote} Am already long tnavi. Price crossed my EMA5, shift3 (ala Eel Franz ) and that is good enough for me. IF this entry doesn't work, I can always open another buy basket at a later period. Let's watch and see. Good job tnavi. Regards, Ty {image}
how works shift3 indi?
MY telegram channel: https://t.me/https://t.me/tnavieurusd
  • #308
  • Jan 30, 2014 8:09am Jan 30, 2014 8:09am
Quoting tnavi
the price made 1,2,3 pattern and breaked the trendline and now, is a good moment to enter in the buy. BUY! {image} i know that rsioma dont cross the 20 level, but we can win some more points extras.
There was NO NEED to open another basket - the 1st one is STILL kicking on strong!

Funny enough tnavi, your entry now is almost the same place I entered HOURS ago - but yours is safer I guess.

Thanks,

Ty
My job: I speculate and manage risk.
  • #309
  • Jan 30, 2014 8:34am Jan 30, 2014 8:34am
Quoting tnavi
{quote} how works shift3 indi?
Tnavi I got the 5EMA, shift3 system from EelFranz' thread here:

http://www.forexfactory.com/showthread.php?t=291622

BUT I use it a little differently.

#1. I wait for RSIOMA to enter the 80 / 20 OverBought / OverSold area.
#2. I watch the 5EMA (shift3) line. Once Price closes above it, I open a trade. (Remember to ENSURE that price has TOUCHED the channels of glory!)

#3. IF price crosses back to the OTHER side (against my basket), I wait for RSIOMA to cross the 80 / 20 OverBought / OverSold area then open ANOTHER basket (this is HIGHLY risky - referred to as DOUBLING UP)!

As an example, today's trade passed test #1 and #2.

Then #3 happened too...so I was prepared BUT by the time RSIOMA crossed (will cross) the 20line upwards, the BUY basket I opened above, would have already been in profit - so there is NO NEED to open ANOTHER trade.

Below is the setting for the 5EMA (shift3) line AND the area where I entered hours ago:

Regards,

Ty


NB: Use 5EMA or 5SMA for me it doesn't make any difference.
Attached Image (click to enlarge)
Click to Enlarge Name: tnavi - 5ema entry.png Size: 64 KB
Attached Image
My job: I speculate and manage risk.
  • #310
  • Jan 30, 2014 8:41am Jan 30, 2014 8:41am
Quoting TyLamai
{quote} Tnavi I got the 5EMA, shift3 system from EelFranz' thread here: http://www.forexfactory.com/showthread.php?t=291622 BUT I use it a little differently. #1. I wait for RSIOMA to enter the 80 / 20 OverBought / OverSold area. #2. I watch the 5EMA (shift3) line. Once Price closes above it, I open a trade. #3. IF price crosses back to the OTHER side (against my basket), I wait for RSIOMA to cross the 80 / 20 OverBought / OverSold area then open ANOTHER basket (this is HIGHLY risky - referred to as DOUBLING UP)! As an example, today's...
thanks friend.

but i think that u can make it more simple.

put in the rsioma settings, in MA config. value 5,

and then wait to rsioma cross the MA.

MY telegram channel: https://t.me/https://t.me/tnavieurusd
  • #311
  • Jan 30, 2014 10:12am Jan 30, 2014 10:12am
Quoting tnavi
{quote} thanks friend. but i think that u can make it more simple. put in the rsioma settings, in MA config. value 5, and then wait to rsioma cross the MA.
DONE! Makes a LOT of sense and it's DEFINITELY simpler.

Thanks again - tnavi.

Ty
My job: I speculate and manage risk.
  • #312
  • Jan 30, 2014 11:16am Jan 30, 2014 11:16am
How does the sell set up look to ou guys on USDCAD?
  • #313
  • Jan 30, 2014 11:21am Jan 30, 2014 11:21am
Quoting Barefoot
How does the sell set up look to ou guys on USDCAD?
put a chart up
  • #314
  • Jan 30, 2014 11:37am Jan 30, 2014 11:37am
Quoting Pipocrates
{quote} put a chart up
Attached Image (click to enlarge)
Click to Enlarge Name: usdcadmh1.png Size: 50 KB
  • #315
  • Jan 30, 2014 11:52am Jan 30, 2014 11:52am
honestly not sure, see what happens or what tnavi thinks,

its been so bullish i would be hesitant to sell this pair

seems like the 27th or so would have been a better signal to buy as its with the trend
  • #316
  • Jan 30, 2014 12:07pm Jan 30, 2014 12:07pm
Quoting Pipocrates
honestly not sure, see what happens or what tnavi thinks, its been so bullish i would be hesitant to sell this pair seems like the 27th or so would have been a better signal to buy as its with the trend
That was my thinking as well. I think the setup is valid, but it's been in such and up trend that I'm worried about shorting here.
  • #317
  • Jan 30, 2014 12:25pm Jan 30, 2014 12:25pm
Quoting Barefoot
{quote} {image}
barefoot, u have a wrong setup.

firstly, the tma setup is 100, not 56.

then, rsioma is 12 and in rsioma mode you must put 2.

if u put all fine, u must have this template:

Attached Image (click to enlarge)
Click to Enlarge Name: Captura de pantalla de 2014-01-30 19:19:18.png Size: 33 KB


the sell entry is now, no before, how can u see.

cheers!
MY telegram channel: https://t.me/https://t.me/tnavieurusd
  • #318
  • Jan 30, 2014 12:45pm Jan 30, 2014 12:45pm
Quoting tnavi
{quote} barefoot, u have a wrong setup. firstly, the tma setup is 100, not 56. then, rsioma is 12 and in rsioma mode you must put 2. if u put all fine, u must have this template: {image} the sell entry is now, no before, how can u see. cheers!
Thanks tnavi, does this look better?
Attached Image (click to enlarge)
Click to Enlarge Name: usdcadmh1.png Size: 37 KB
  • #319
  • Jan 30, 2014 1:13pm Jan 30, 2014 1:13pm
Quoting Barefoot
{quote} Thanks tnavi, does this look better?{image}
That is baby!
MY telegram channel: https://t.me/https://t.me/tnavieurusd
  • #320
  • Jan 30, 2014 2:04pm Jan 30, 2014 2:04pm
Quoting tnavi
...then, rsioma is 12 and in rsioma mode you must put 2....
!!!

I didn't know THAT! I always thought RSIOMA was 14 - 1. Wow.

I have adjusted my settings immediately.

Ty
My job: I speculate and manage risk.
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