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  • #7,281
  • Jun 12, 2014 12:45am Jun 12, 2014 12:45am
Quoting Hammertop
"TMA M1 beyond Ichimoku cloud" again. The slope of TMA M1 was not ideal at the entry but the EUR was very weak so I took a shot. Exited on long candle crossing all three TMA's for 18 pips. {image} {image}
Remember yesterday's last short trade for E/J. I entered a little bit later at 138.08 ,but we together exit according to the system at the best possible point 137.92,after which price went to the north.
Really good job Hammertop!!! Thanks for sharing your trades ,keep them up!
I am not considering myself as an Babon expert I just trade,and thats all .I have never traded another system except babon on a real account. Aside I had learnt and tasted a lot of them.But till now I have never met anything better.If someday you or somebody else will meet,I am open,please, let me know.

Hammertop, all the best to you ,keep up the good work, tailwind and take care!!
Success is nothing more than a few simple disciplines, practiced every day.
  • #7,282
  • Jun 12, 2014 1:52am Jun 12, 2014 1:52am
@Kobiet
@919gilead
@Machinator
Thanks for the feedback, guys, really appreciate it. I was starting to think I was the only one left to post on this thread. I don't really understand why it's got so quiet considering the potential...
  • #7,283
  • Jun 12, 2014 3:05am Jun 12, 2014 3:05am
Just wanted to point out an example of a "no go" setup for me. The green arrow shows TMA M1 moving beyond Ichimoku but at the time it occurred, the TMA M1 was looking pretty horizontal and the distance between upper and lower band was widening (sign of no clear direction). Also I didn't see clear LH's-LL's for a classic setup (let alone the distance to the lower TMA M5 which was not big enough), so no go for that pattern either. It's important to judge the patterns at the moment they occur, not in hindsight. Once again TMA M1 is our precious element but to be considered only in real time. That said, the red arrow shows what looks like a good setup at the moment I'm typing, with the TMA M1 shrinking and a decent enough slope, but I can't be totally sure as I wasn't at the PC at that time.
The reason why I wanted to share this thought is that if we have enough patience sooner or later one or more almost surefire setups will appear. Favorite's Babon is a great strategy and there's no doubt about it. But I'm sure nobody needed me to say it to know that LOL
Attached Image (click to enlarge)
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  • #7,284
  • Jun 12, 2014 3:30am Jun 12, 2014 3:30am
Quoting Hammertop
Just wanted to point out an example of a "no go" setup for me. The green arrow shows TMA M1 moving beyond Ichimoku but at the time it occurred, the TMA M1 was looking pretty horizontal and the distance between upper and lower band was widening (sign of no clear direction). Also I didn't see clear LH's-LL's for a classic setup (let alone the distance to the lower TMA M5 which was not big enough), so no go for that pattern either. It's important to judge the patterns at the moment they occur, not in hindsight. Once again TMA M1 is our precious element...
Here is an indicator that has been very useful to weed out babon trades for me.

Attached File(s)
File Type: ex4 10.2 TMA slope true 4.30.ex4   10 KB | 387 downloads
  • #7,285
  • Jun 12, 2014 4:07am Jun 12, 2014 4:07am
Quoting panamamike
{quote} Here is an indicator that has been very useful to weed out babon trades for me. {file}
Thanks for reminding me, Mike. If I remember well, that was used by DNA too. I will keep an eye on it as well to study its behaviour on the probable setups.
  • #7,286
  • Jun 12, 2014 6:03am Jun 12, 2014 6:03am
Hello all ,
3 trades on the EUR/USD this morning i know that isn't a good time for trading but i see good conditions to trade .
1st trade : I enter after a breakout of the previous Swing Low and exited at the red line for 10 pips. (TMA M1 beyond ichimoku cloud)
2nd trade : a pullback , the TMA M1 beyond both TMA M5/M15 , I enter when it was horizontal and exited at the yellow line for 6 pips .
3rd trade : I enter after a breakout of the previous Swing Low ,red babon signal and exited when babon changed to blue for 9 pips . (TMA M1 beyond ichimoku cloud)
The Big Picture : TMA H1/H4 are Down , The green line crossed red line down near 50 level .
Sorry for my bad English I'm Tunisian and we have french as second language .
If anyone could correct my mistakes and thank you .
Attached Image (click to enlarge)
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Attached Image
  • #7,287
  • Jun 12, 2014 6:35am Jun 12, 2014 6:35am
Quoting ladharimoham
Hello all , 3 trades on the EUR/USD this morning i know that isn't a good time for trading but i see good conditions to trade . 1st trade : I enter after a breakout of the previous Swing Low and exited at the red line for 10 pips. (TMA M1 beyond ichimoku cloud) 2nd trade : a pullback , the TMA M1 beyond both TMA M5/M15 , I enter when it was horizontal and exited at the yellow line for 6 pips . 3rd trade : I enter after a breakout of the previous Swing Low ,red babon signal and exited when babon changed to blue for 9 pips . (TMA M1 beyond ichimoku...
Hi mate. Today I haven't been able to trade as I was away most of the time, but your trades look ok to me. I'm not an expert by any means so you better wait for some authority, but it looks like you've nailed the setups. Well done and I'm glad this thread is seeing some new life
  • #7,288
  • Jun 12, 2014 6:41am Jun 12, 2014 6:41am
Quoting Hammertop
{quote} Hi mate. Today I haven't been able to trade as I was away most of the time, but your trades look ok to me. I'm not an expert by any means so you better wait for some authority, but it looks like you've nailed the setups. Well done and I'm glad this thread is seeing some new life
Thank you Hammertop
  • #7,289
  • Jun 12, 2014 8:39am Jun 12, 2014 8:39am
Eager to open a trade, I rushed in this one ignoring the distance rule and thinking any way about a quick scalp to the high of the swing. It cost me 3 pips... Just showing it as a proof that the market more often than not won't adjust to our thoughts and the exact opposite is what we need to do: i.e. adjusting ourselves to market's thoughts
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  • #7,290
  • Jun 12, 2014 9:31am Jun 12, 2014 9:31am
Hammertop and Machinator, I'm so proud of you, guys! Keep up the good work!


Quoting Hammertop
I was starting to think I was the only one left to post on this thread. I don't really understand why it's got so quiet considering the potential...
Hammertop, don't worry about that! It is quiet because money loves silence and Big Money loves Grave Silence!
Gentlemen always play by the rules. If they can't, they change the rules.
  • #7,291
  • Jun 12, 2014 9:57am Jun 12, 2014 9:57am
Wow!!! Acknowledgement from the Master! I never hoped you would post in here again, Favorite. That's great news. I take my chance to thank you again for this great strategy. When I think I overlooked it for so long I would slap my face... I don't have the confidence to manage my trades by DNA's style yet, but I hope I will get there some day. I also hope we'll see more posts of yours, mate.
  • #7,292
  • Jun 12, 2014 11:11pm Jun 12, 2014 11:11pm
Quoting Hammertop
I never hoped you would post in here again, Favorite.

Quoting Hammertop
I also hope we'll see more posts of yours, mate.

Never say "Never"!
Gentlemen always play by the rules. If they can't, they change the rules.
  • #7,293
  • Edited 3:56pm Jun 14, 2014 3:19pm | Edited 3:56pm
Question for Favorite about locking;
I just read the post where you explain your locking strategy. It looks very interesting, but if you don't mind I'd like to ask: do you use it only for the hard stop loss (which from my understanding is very rare to happen for you as you sensibly advise to close long before that very stop is hit) or you also implement it on your smaller losses, which have to happen some time? Thanks.

EDIT: Of course I do understand that in case of a hard stop loss the hedging order is preset while in case of a small loss, the opposite order would need to be placed quickly and at market. Also in case of a small loss there wouldn't even be a real need to hedge it as it should be recovered quickly with such a high % of success system. I was just wondering what your usual behaviour is on such cases.
  • #7,294
  • Jun 15, 2014 11:12pm Jun 15, 2014 11:12pm
Quoting Hammertop
Question for Favorite about locking; I just read the post where you explain your locking strategy. It looks very interesting, but if you don't mind I'd like to ask: do you use it only for the hard stop loss (which from my understanding is very rare to happen for you as you sensibly advise to close long before that very stop is hit) or you also implement it on your smaller losses, which have to happen some time? Thanks. EDIT: Of course I do understand that in case of a hard stop loss the hedging order is preset while in case of a small loss, the...

Hammertop, I use it only for the hard stop loss. If I see (it happens very rare) that price went against me, I accept this loss (usually 3-6 pips), analyze how and why it happened and after that I do exactly what great Dale Carnegie recommended: I never cry over spilt milk!
Gentlemen always play by the rules. If they can't, they change the rules.
  • #7,295
  • Jun 16, 2014 1:13am Jun 16, 2014 1:13am
Quoting Favorite
{quote} Hammertop, I use it only for the hard stop loss. If I see (it happens very rare) that price went against me, I accept this loss (usually 3-6 pips), analyze how and why it happened and after that I do exactly what great Dale Carnegie recommended: I never cry over spilt milk!
Thanks. Probably my question was even silly...
  • #7,296
  • Jun 16, 2014 2:26am Jun 16, 2014 2:26am
Good morning traders. Trust you all had a good week end, and a belated happy Father's Day to you guys and fathers here.

I am short the Euro from 1.35347 - as usual I saw the head fake and dummy being sold by the MMs and waited for the dummy to fail above the DPV, Set my alert below the DPV and was not too surprised when I heard the chiming sound for a possible entry

Good trading to all

Shalom


NB
On 2nd thot, decided to post the chart as I do not want to disrupt consistent posting of the Babon system. Notice the H4 engulfing right @ the DOL
Attached Image (click to enlarge)
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  • #7,297
  • Jun 16, 2014 8:54am Jun 16, 2014 8:54am
Quoting Hammertop
{quote} Thanks. Probably my question was even silly...

The only silly questions are the ones not asked!
Gentlemen always play by the rules. If they can't, they change the rules.
  • #7,298
  • Jun 16, 2014 8:48pm Jun 16, 2014 8:48pm
Quoting Favorite
{quote} The only silly questions are the ones not asked!
Hello Captain ,
So I have a question to you that is in my mind from a month ago , Machinator Said here : http://www.forexfactory.com/showthre...84#post7508384
that the daily average range reduced at least halfway , my question is that mean that the distance between the entry and the TMA M5 should be +5 pips and not +10 pips like April 2013 and the Stop Loss should be 7.5 pips and not 15 pips due to this change .
Thank You
  • #7,299
  • Jun 16, 2014 11:17pm Jun 16, 2014 11:17pm
Quoting ladharimoham
{quote} Hello Captain , So I have a question to you that is in my mind from a month ago , Machinator Said here : http://www.forexfactory.com/showthre...84#post7508384 that the daily average range reduced at least halfway , my question is that mean that the distance between the entry and the TMA M5 should be +5 pips and not +10 pips like April 2013 and the Stop Loss should be 7.5 pips and not 15 pips due to this change . Thank You
No, that just means that your targets should be a little bit smaller. I still use the same rules and the same SL that I published more than a year ago, and I'm doing just fine. I'm not saying that daily average range doesn't matter, but surely there is a huge difference between it's impact on M1 and, for example, on H4, and fortunately we trade M1!
Gentlemen always play by the rules. If they can't, they change the rules.
  • #7,300
  • Jun 16, 2014 11:30pm Jun 16, 2014 11:30pm
Quoting Favorite
{quote} No, that just means that your targets should be a little bit smaller. I still use the same rules and the same SL that I published more than a year ago, and I'm doing just fine. I'm not saying that daily average range doesn't matter, but surely there is a huge difference between it's impact on M1 and, for example, on H4, and fortunately we trade M1!
All Clear , Thank You
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