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Rekon Xs and Market Scanner for Spot and Binary Options

  • #361
  • Mar 1, 2014 12:58am Mar 1, 2014 12:58am
Quoting rekon67
I am happy that I am getting offline queries and suggestions, if we able to combine and collate them it will be a great asset for the future.

Hi Rekon,

I am starting to read and catch up on this thread now. I agree with your statement above and would love to talk to you further! Have you only been trading and/or developing this system for the past 6 months? That is remarkable if true. I have been refining my system for 3-4 years now and continue to do so every day. I have several suggestions for you, but not sure if communicating them all here is the best method.
Please check out my blog at https://from-zero-to-hero . net
  • #362
  • Mar 1, 2014 1:02am Mar 1, 2014 1:02am
Weekly Observation (Feb 24 – Feb 28 [2014])

Market State for the trading session:

A. Poor: Try Spot only with TF M30 to H5.
B. Good: Spot and Binary with TF M30 to H5, with your favourite instruments only.
C. Best: Spot and Binary in all TFs with all signals.

Trading Strategies:

A. Pending orders:

· TF H5
· With Trend and Counter (2 or greater sign of technicals disagreement of main trend)
· Buy @ S3, S2 with target of Pivot and R1
· Sell @ R3, R2 with target of Pivot and S1

B. Spot:

· Post 297 (With Trend)
· Post 358 (Counter)

C. Binary: (Pairs)

· Post 342
  • #363
  • Mar 1, 2014 1:07am Mar 1, 2014 1:07am
Post 362

The above mentioned strategies I will be scrutinize more in Season 2. In season 1 main focus is to create a discussion platform on various angles of looking at the market and tackling it.

I would request specially to those who are using MS, in case you want to try other strategies apart from your existing one or with your exiting one, just try all the mentioned above and post your result so that we can fine tune them further.

Thanks.
  • #364
  • Mar 1, 2014 1:12am Mar 1, 2014 1:12am
Quoting smash1820
{quote} Hi Rekon, I am starting to read and catch up on this thread now. I agree with your statement above and would love to talk to you further! Have you only been trading and/or developing this system for the past 6 months? That is remarkable if true. I have been refining my system for 3-4 years now and continue to do so every day. I have several suggestions for you, but not sure if communicating them all here is the best method.
You can surely add your comment and sentiment. Thing is that the materials I have I am slowly blending here and will continue the same for atleast next 2 months in season 1.

This entire thread will look different in next 2 months as there will be more angles and they are waiting in the queue.
  • #365
  • Mar 1, 2014 1:44am Mar 1, 2014 1:44am
Ok Rekon. I will try to posts my comments here but I still need more catching up on this thread and I guarantee I will have a lot more comments.

For now, my two biggest comments are:

#1) You NEED to find a way to incorporate more MTF concepts. I can help you with this, as I have almost got it down to a science... but perhaps we can talk more and work something out b/c I'd really like to test your software and right now I don't even know how much it costs. But I'm getting the impression that you know what the f* you're talking about, and that's the kind of person I'd like to work with.


#2) Simpler is better. If I understand correctly -- and from what I have read -- your system uses 24 different indicators. That is wayyy too much! Simplify, simplify, simplify!

Please check out my blog at https://from-zero-to-hero . net
  • #366
  • Mar 1, 2014 2:28am Mar 1, 2014 2:28am
Quoting rekon67
Rekon Xs Technicals Will now discuss about the Rekon Xs trading template components. These technicals works combinely to create a tradable set up. Once we receive signal from the Market Scanner, we try to look out for the confirmation received by the technicals. We only trade the pattern we able to recognise. Credit: All the technicals / components in the chart are based upon old studies of technical, nothing new only I have tried optimizing certain settings thats all, so Credit goes to the great people such as J. Welles Wilder, George C. Lane,...
In addition to my previous post, I would add the following comments:

  1. While I agree a lot of the credit -- in fact most of it -- goes to these infamous people you have named, I would encourage you to think "outside of the box", as nothing remarkable will be accomplished inside it.
  2. I like your use of RSX, RCCI, and RMACD as that is pretty unique and I don't see it used much, but I'm not entirely sure if it's much different from RSI, CCI, and MACD. My view is that any indicator can be effective if applied correctly, though some are better than others.
  3. I strongly prefer the stochastic indicator over RSI/RSX, so much in fact that it is the core of my system.
  4. There is no use for 24 different indicators. My system uses 2, one of which is stochastics. The key is to know when the market is trending, and when it is ranging. Since indicators are to be used only in certain situations, depending on market context, the previous statement is crucial.
  5. Indicators must be applied consistently, with the same settings, throughout all time frames. Shorter indicator settings/parameters are preferable since they provide an earlier signal (assuming you know how to use MTF).
  6. I agree with almost all of your points, and believe you are definitely on to something, and if I am being critical it is only because I'm trying to be helpful and I want to see the best application possible...

Please check out my blog at https://from-zero-to-hero . net
  • #367
  • Mar 1, 2014 2:28am Mar 1, 2014 2:28am
Quoting smash1820
Ok Rekon. I will try to posts my comments here but I still need more catching up on this thread and I guarantee I will have a lot more comments. For now, my two biggest comments are: #1) You NEED to find a way to incorporate more MTF concepts. I can help you with this, as I have almost got it down to a science... but perhaps we can talk more and work something out b/c I'd really like to test your software and right now I don't even know how much it costs. But I'm getting the impression that you know what the f* you're talking about, and that's the...
1. MTF concepts: I really want a slow pace and expected that we will have a spiral move from upper bound to the core. I am waiting for the "Group By" view, once it is implemented we will be good to discuss and understand the whole thing.

2. It is actually not 24 technicals. Rather 3 sets of technicals. 1. Moving Avg, 2. ATR, 3. Decider group of technicals (RSI, CCI, High/Low, bulls/bears etc. - check the left hand side of ATR)

* PM me your email.
  • #368
  • Mar 1, 2014 2:37am Mar 1, 2014 2:37am
Quoting smash1820
{quote} In addition to my previous post, I would add the following comments: While I agree a lot of the credit -- in fact most of it -- goes to these infamous people you have named, I would encourage you to think "outside of the box", as nothing remarkable will be accomplished inside it. I like your use of RSX, RCCI, and RMACD as that is pretty unique and I don't see it used much, but I'm not entirely sure if it's much different from RSI, CCI, and MACD. My view is that any indicator can be effective if applied correctly, though some are better than...
I am saving all the points for future discussion.
  • #369
  • Mar 1, 2014 7:56am Mar 1, 2014 7:56am
Price Life Cycle: An Overview

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  • #370
  • Mar 1, 2014 10:44pm Mar 1, 2014 10:44pm
As discussed in our yesterdays team meeting, I am happy to rollout the latest update. MS users will be receiving the update shortly.

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  • #371
  • Mar 1, 2014 10:46pm Mar 1, 2014 10:46pm
Market Scanner V1.01

Just remove the old file with the New One.

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  • #372
  • Mar 2, 2014 5:05am Mar 2, 2014 5:05am
This week I will be adding more instruments to MS. In case you want to add any particular instrument then please send me in this format.

Instrument Name | Current Price

Total 88 Stocks loaded so far.

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  • #373
  • Mar 2, 2014 5:44am Mar 2, 2014 5:44am
Post 362 : Strategy in detail

A. Pending Orders:

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  • #374
  • Mar 3, 2014 8:04am Mar 3, 2014 8:04am
I wrote you through skype but taught maybe you will see questions faster through here.



pls whats the use of the buttons, Move to Usa, Move to Asia, Move to UK. How do we really use it.

Also, Now we dont have the option of choosing or adding my own instrument.

Please can you clarify this.


Lastly can we have a trading session with you at least to know when to enter the markets your won way.

Thanks for your help


favoured111
  • #375
  • Mar 3, 2014 8:05am Mar 3, 2014 8:05am
So today we are going to enter in the market with 81.61% winrate, old positions left only 3. so we will have the following objectives today.

1. Closing / set-off the earlier opened positions.
2. Pending orders
3. H5 spot opportunity
4. Binary pairs opportunity

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  • #376
  • Mar 3, 2014 8:06am Mar 3, 2014 8:06am
Quoting favoured111
I wrote you through skype but taught maybe you will see questions faster through here. pls whats the use of the buttons, Move to Usa, Move to Asia, Move to UK. How do we really use it. Also, Now we dont have the option of choosing or adding my own instrument. Please can you clarify this. Lastly can we have a trading session with you at least to know when to enter the markets your won way. Thanks for your help favoured111
I will be online shortly.
  • #377
  • Mar 3, 2014 8:22am Mar 3, 2014 8:22am
Please follow the steps, 1,2,3,4 as simple as that!

1. Selecting Instruments and moving to any of the baskets such as Asia/UK/US. Gradually using the App you will find the usefulness.

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  • #378
  • Mar 3, 2014 8:25am Mar 3, 2014 8:25am
2, Next, Select the basket, it is going to save your time later as you do not need to change the instruments everytime like earlier.

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  • #379
  • Mar 3, 2014 8:31am Mar 3, 2014 8:31am
3. You can now have 3 baskets, you can select all or a particular basket to run, this way you can save your favourite instruments and run scan.

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  • #380
  • Mar 3, 2014 8:35am Mar 3, 2014 8:35am
1. Make your favourite basket of instruments.
2. Select strength

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