Nihilist Forex Indicators | Page 267 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

"Nihilist HolyGrail" EA 30 replies

Custom Indicators vs. Technical Indicators 6 replies

Nihilist trading 26 replies

Lagging Indicators -vs- Leading Indicators 48 replies

Attachments: Nihilist Forex Indicators
Exit Attachments

Nihilist Forex Indicators

  • #5,321
  • Nov 14, 2014 7:35am Nov 14, 2014 7:35am
Quoting jpadvisor
{quote} Do I take some profit at 1R move my SL to BE, or not, and let the rest run.... I prefer doing that way

Hi jpadvisor,

Thanks for your suggestion.

The problem I have, personally, with any Trade Management approach is that there is no statistics to support your choice until there has been a substantial number of trades taken 1000+.

We don't know, for sure, wether a simple Set and Forget approach in the long run, 1000+ trades, will in fact be more profitable than moving our SL to BE.

I guess this all comes down to the amount of money we are risking, per trade, the size of our trading accounts not to mention the size of our Balls. It's a personality thing and depends wether we can handle a number of complete Stop Outs, if we are adopting the Set and Forget approach, or we want to take at least some profit, if possible, from all our Trades.

I think I'm coming down on the side of taking something from my Trades, if possible, but as we know both approaches can lead to complete Stop Outs if we aren't careful.

That brings me on to another failing of mine finding it hard to exit losing Trades manually that's why I use a Trade Management EA, if possible, to do it for me.
  • #5,322
  • Nov 14, 2014 7:45am Nov 14, 2014 7:45am
Quoting mara1
{quote} I playing too dangerous sometime anyway forex is a marathon be ready for USD/JPY it will be much think happened today {image}

Hi mara,

Looks like USD Red News has come down on my side, this time.

I don't mind Trading D1 with Red News pending it's only when trading below D1, with a small SL, that it can become a major issue.

Good luck with the GBP/JPY trade
  • #5,323
  • Nov 14, 2014 9:12am Nov 14, 2014 9:12am
Quoting stevepatt
{quote} Hi mara, Looks like USD Red News has come down on my side, this time. I don't mind Trading D1 with Red News pending it's only when trading below D1, with a small SL, that it can become a major issue. Good luck with the GBP/JPY trade

I agre with USD time to change somthing

thx
  • #5,324
  • Nov 14, 2014 10:03am Nov 14, 2014 10:03am
Quoting stevepatt
{quote} Hi jpadvisor, Thanks for your suggestion. The problem I have, personally, with any Trade Management approach is that there is no statistics to support your choice until there has been a substantial number of trades taken 1000+. We don't know, for sure, wether a simple Set and Forget approach in the long run, 1000+ trades, will in fact be more profitable than moving our SL to BE. I guess this all comes down to the amount of money we are risking, per trade, the size of our trading accounts not to mention the size of our Balls. It's a personality...
Maybe this article is of some help:
http://www.dailyfx.com/forex/educati...ders_Make.html
This is also interesting:
Attached Image (click to enlarge)
Click to Enlarge Name: Cattura RR.PNG Size: 61 KB
Per aspera ad astra
  • #5,325
  • Edited 4:20pm Nov 14, 2014 2:58pm | Edited 4:20pm
Quoting jpadvisor
{quote} Maybe this article is of some help: http://www.dailyfx.com/forex/educati...ders_Make.html This is also interesting: {image}

Hi jpadvisor,

Thank you for the link it makes for a good start to the subject.

Here's another link to some good articles on Money and Trade Management.

http://www.learntotradethemarket.com...essful-trading

http://www.learntotradethemarket.com...hen-to-fold-em

http://www.learntotradethemarket.com...s-successfully

Like i said in a previous post Nial's site has a multitude of, very good, "free" material.

I have also exited the EUR/USD and USD/JPY trades at a little better than BE. There looks like there is something brewing with the USD pairs that's more than end of the week profit taking.
  • #5,326
  • Nov 14, 2014 4:39pm Nov 14, 2014 4:39pm
Quoting jpadvisor
{quote} Maybe this article is of some help: http://www.dailyfx.com/forex/educati...ders_Make.html This is also interesting: {image}
That is a great article. Thanks for posting it. Systems that promote negative risk/reward should NEVER be followed IMO. Unfortunately there are more then a few on FF that lead newbies down the wrong path to becoming a successful trader. ALWAYS set R/R at least 1x2 risk/reward at minimum.
  • #5,327
  • Nov 15, 2014 9:08am Nov 15, 2014 9:08am
Hello Nihilist

"here is the multipair ADX dash board.down load the indicator and the .tpl file. put the ex4 file on your indicator folder and tpl file
on your template folder.attach the tpl on any empty chart.you can change add or remove the pair as per your demand.
thank you."

Can you please do the same for Nihilist holygrail dashboard ?

Best Regards
sradia
  • #5,328
  • Nov 16, 2014 3:49am Nov 16, 2014 3:49am
Quoting stevepatt
{quote} I have also exited the EUR/USD and USD/JPY trades at a little better than BE. There looks like there is something brewing with the USD pairs that's more than end of the week profit taking.
The USD has been very strong across all pairs, in contrast, the JPY has been very weak across all pairs recently.

From 1.30pm to 9pm GMT, on Friday 14th, there was 9 News releases scheduled 3 of which where Red News. Yesterday there where G20 meetings scheduled all day.

At 3pm GMT, on Friday 14th, the USD starting to sell off across all pairs at the same time, even the GBP/USD. The JPY also started to sell across all pairs apart from USD/JPY which dropped because of the USD selling.

To me this looks like more than End of the Week profit taking, in the case of the USD pairs because of the dramatic move in such a short time.

The JPY, apart from the USD/JPY pair, remain extremely weak.

This is just an observation and might mean nothing.
Attached Image (click to enlarge)
Click to Enlarge Name: 16th Nov 14 News Events.png Size: 121 KB
  • #5,329
  • Edited 5:22am Nov 16, 2014 4:58am | Edited 5:22am
Quoting stevepatt
{quote} Hi jpadvisor, Thanks for your suggestion. The problem I have, personally, with any Trade Management approach is that there is no statistics to support your choice until there has been a substantial number of trades taken 1000+. We don't know, for sure, wether a simple Set and Forget approach in the long run, 1000+ trades, will in fact be more profitable than moving our SL to BE. I guess this all comes down to the amount of money we are risking, per trade, the size of our trading accounts not to mention the size of our Balls. It's a personality...
Hi Steve.

It is much, much easier to pocket 10, 10 pip trades or 5, 20 pip trades than 1, 100 pip trade. Take those small profits continuously, they add up. When in doubt, get out. Psychologically, taking many smaller profits (singles) adds to your self confidence more than taking a big profit (homerun).

I find that hopping on a strong momentum move and riding the train for 10 to 20 pips is the easiest way to trade. The key is to wait for strong momentum to develop before jumping in. Using this tactic, drawdown is minimal and the stop loss is very rarely hit. Another benefit is that your exposure to the market in time is much smaller than riding a position trade that is vulnerable to all kinds of news events or surprises.
Observation is the path to discovery.
  • #5,330
  • Nov 16, 2014 5:16am Nov 16, 2014 5:16am
Quoting MKFXTrader
{quote} That is a great article. Thanks for posting it. Systems that promote negative risk/reward should NEVER be followed IMO. Unfortunately there are more then a few on FF that lead newbies down the wrong path to becoming a successful trader. ALWAYS set R/R at least 1x2 risk/reward at minimum.
That sounds good in principle, but the reality is that setting a stop loss is a totally objective decision, while setting a TP is totally subjective. 99% of the time, price will not end its move at the TP you set. It will either fall short and turn around or keep going for a much greater move. Setting a TP may make you feel good because it complies with your imaginary 1:2 risk/reward scenario, , but in reality it is trying to predict the future and that is a fool´s errand. The best way to exit a trade is to observe price action and close the trade when it is clear that momentum is subsiding, wherever that may be.
Observation is the path to discovery.
  • #5,331
  • Nov 16, 2014 6:41am Nov 16, 2014 6:41am
Quoting Alorente
The best way to exit a trade is to observe price action and close the trade when it is clear that momentum is subsiding, wherever that may be.
I agree 100%. An exit must have a - technical - reason.
MT4/MT5 EAs/Indicators/Alerts coder
  • #5,332
  • Nov 16, 2014 8:47am Nov 16, 2014 8:47am
Quoting Alorente
{quote} Hi Steve. It is much, much easier to pocket 10, 10 pip trades or 5, 20 pip trades than 1, 100 pip trade. Take those small profits continuously, they add up. When in doubt, get out. Psychologically, taking many smaller profits (singles) adds to your self confidence more than taking a big profit (homerun). I find that hopping on a strong momentum move and riding the train for 10 to 20 pips is the easiest way to trade. The key is to wait for strong momentum to develop before jumping in. Using this tactic, drawdown is minimal and the stop loss...

Hi Alorente,

Nice to hear from you.

I take your point; I know it doesn't seem like it, the amount I've been posting lately, but my time to trade is limited. So I can only trade the Daily charts which as you say exposes me to the fluctuations of the market.

Trading shorter TFs makes it much easier to hop onto Momentum, whilst it's in progress, by trading the Higher TFs the Momentum is usually exhausted, but not always.

I do like to look for momentum in the Weekly TF and then wait for pullbacks in the Daily TF to look for PA to take trades. See USD/JPY W1/D1 Chart Below

I think I'm going to start taking 50% profit at 1R, move my SL to BE, and allow the remaining 50% to run to the next level of Support/Resistance to take the remaining 50%, as jpadvisor does. If the market reaches 1R I will make at least 0.5R return.

It's all very well, me saying this will be my approach, but will the market give me what I want? In the same way I rely on PA to get me into a trade I must also me aware of PA that will cause me to exit a trade early. See AUD/USD D1 Chart below
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 10th Nov 14 USD:JPY W1:D1 Chart.png Size: 249 KB
Click to Enlarge Name: 16th Nov 14 AUD:USD W1:D1 Chart.png Size: 122 KB
  • #5,333
  • Nov 16, 2014 3:53pm Nov 16, 2014 3:53pm
Quoting Alorente
{quote} That sounds good in principle, but the reality is that setting a stop loss is a totally objective decision, while setting a TP is totally subjective. 99% of the time, price will not end its move at the TP you set. It will either fall short and turn around or keep going for a much greater move. Setting a TP may make you feel good because it complies with your imaginary 1:2 risk/reward scenario, , but in reality it is trying to predict the future and that is a fool´s errand. The best way to exit a trade is to observe price action and close...
Yes, exactly sir,
Every man who thinks ahead of his time is sure to be misunderstood.
  • #5,334
  • Edited Nov 17, 2014 1:00am Nov 16, 2014 4:28pm | Edited Nov 17, 2014 1:00am
Hey MKFXTrdaer,

Why have you pulled your last post?

Just wondering, because I'd really be interested to know how you trade to be able to shoot for a R:R of 1:5 whilst ultimately aiming for 1:10 R:R.

Wouldn't it be easier to keep exiting with a smaller, positive, R:R target and re-entering if there was follow on PA?
  • #5,335
  • Nov 17, 2014 1:59am Nov 17, 2014 1:59am
looking for mql version of Nihilist_Ultra_Trend_V2
  • #5,336
  • Nov 17, 2014 2:08am Nov 17, 2014 2:08am
Quoting unimak
looking for mql version of Nihilist_Ultra_Trend_V2

Hi unimak;

Keeping asking questions and you might get lucky, read and you'll get the answer that you are looking for.

Check the paperclip, top right, do you see Nihilist posting any mql4 indicators?
  • #5,337
  • Edited 7:15am Nov 17, 2014 2:43am | Edited 7:15am
Quoting stevepatt
{quote} Hi jpadvisor, Thank you for the link it makes for a good start to the subject. Here's another link to some good articles on Money and Trade Management. http://www.learntotradethemarket.com...essful-trading http://www.learntotradethemarket.com...hen-to-fold-em http://www.learntotradethemarket.com...s-successfully Like i said in a previous post Nial's site has a multitude of, very...
Hi stevepatt,
thank you for posting those articles. The learning curve is never over and Nial is certainly one of the best masters.
Per aspera ad astra
  • #5,338
  • Edited 7:43am Nov 17, 2014 7:25am | Edited 7:43am
Quoting stevepatt
{image} {image}
very nice job stevepatt clear PA
my view below:

Attached Image (click to enlarge)
Click to Enlarge Name: 2014-11-17_14-37-27usd_jpy_mn.png Size: 72 KB
Only price
  • #5,339
  • Nov 17, 2014 7:55am Nov 17, 2014 7:55am
Tanx unimark
pls how do i copy it and make it show in meta4?
  • #5,340
  • Nov 17, 2014 8:08am Nov 17, 2014 8:08am
Quoting fx_mig
{quote} very nice job stevepatt clear PA my view below: {image}

Hi mig;

Glad you liked it

I'm really crap at predicting what the market will do, the AUD/USD trade, I highlighted early, is a good example. I thought the market was going to go down to 0.84 0.81, which it might still do of course, but certainly not by the direct route.

The way I took those trades on USD/JPY is going to be my Blue Print going forward Look for Momentum on the Higher TF (W1) - then a Pullback on my Trigger TF (D1) - then look for the Logical Place to TP. By doing this I can Trade with the Trend and take Counter Trend Trades when I get the right setup.

I've just got to hold on tight and get dragged along by the shirt tails.

Just have to be Patient and wait for the Market to produce what I need to see to take a trade.
2 traders viewing now