{quote} In EWP there is always an alternare count. We could be still in wave 5. Regarding the ABC, I agree, can't be a ZZ.
Alien's Extraterrestrial Visual Systems
- #8,762
- Nov 29, 2014 3:10pm Nov 29, 2014 3:10pm
- | Commercial User | Joined Jan 2013 | 1,524 Posts
{quote} Hi, my friend. From a EWP point of view we are now in a corrective ABC structure. Currently in B wave. Dunno which type of ABC though, if a zig-zag or a flat. To me Fiber can go still down if we look at fundi. Time will tell.
Every man who thinks ahead of his time is sure to be misunderstood.
- #8,764
- Nov 30, 2014 9:52am Nov 30, 2014 9:52am
- Joined Jul 2013 | Status: Trader | 2,603 Posts
About fundi.
This is a MAM. Trader statement:
in General:
Oil sold with $
when $ strength Oil drops.
+ now:
When Oil drops EZ inflation gets lower
when EZ inflation gets lower EU weakens
when EU weakens $ strength
when $ strength Oil Drops
Oil price drop is fueling more drop
This is a MAM. Trader statement:
in General:
Oil sold with $
when $ strength Oil drops.
+ now:
When Oil drops EZ inflation gets lower
when EZ inflation gets lower EU weakens
when EU weakens $ strength
when $ strength Oil Drops
Oil price drop is fueling more drop
Per aspera ad astra 
- #8,765
- Edited 5:08pm Nov 30, 2014 12:57pm | Edited 5:08pm
- Joined Nov 2006 | Status: Because they DO exist... | 424 Posts
Hello ForexAlien and to all who are participating in this thread.
In the last week I've read a couple of the thread summaries which induced me to begin reading the entire thread itself. I'm now through the first 2000 of the almost 9000 posts. A boatload of kudos to ForexAlien for his very entertaining and effective teaching style. His approach to building the foundational knowledge for his systems and then adding more layers along the way has made it much easier to absorb and assimilate this material.
I have to admit I was not entirely enthusiastic about devoting much time to learning a method that involved indicators, but I think ForexAlien has proven his ability to apply them in a way that seems to overcome their inherent lagging qualities which had caused me to set them aside for many years. The multiple timeframe approach is one that I am particularly fond of because it offers the possibility of placing one's risk on a smaller TF while targeting a reward on a greater TF. This approach tends to offer the potential for high "R" factor trades which appeal to my strong money management tendencies.
I noticed in the last few pages that the issue of money management has been discussed and I hope to see more from ForexAlien on this topic. Not in any way to disparage the accomplishments of the participants in this thread, but it must be acknowledged that statements of "I made 100 pips on that trade" really have no meaning apart from the number of pips RISKED to obtain that 100 pips. Now, if you say you only had a 30 pip stoploss (or smaller!) and made 100 pips...then THAT is a big deal! Especially if you can do it over and over again consistently.
I will continue reading and then hope to contribute something positive to the thread. Until then, congratulations on a great job with this thread!! Wishing all much continued success! Thank you especially to ForexAlien for taking an interest in teaching us mere humans and for fitting us into your busy UFO-building schedule!
In the last week I've read a couple of the thread summaries which induced me to begin reading the entire thread itself. I'm now through the first 2000 of the almost 9000 posts. A boatload of kudos to ForexAlien for his very entertaining and effective teaching style. His approach to building the foundational knowledge for his systems and then adding more layers along the way has made it much easier to absorb and assimilate this material.
I have to admit I was not entirely enthusiastic about devoting much time to learning a method that involved indicators, but I think ForexAlien has proven his ability to apply them in a way that seems to overcome their inherent lagging qualities which had caused me to set them aside for many years. The multiple timeframe approach is one that I am particularly fond of because it offers the possibility of placing one's risk on a smaller TF while targeting a reward on a greater TF. This approach tends to offer the potential for high "R" factor trades which appeal to my strong money management tendencies.
I noticed in the last few pages that the issue of money management has been discussed and I hope to see more from ForexAlien on this topic. Not in any way to disparage the accomplishments of the participants in this thread, but it must be acknowledged that statements of "I made 100 pips on that trade" really have no meaning apart from the number of pips RISKED to obtain that 100 pips. Now, if you say you only had a 30 pip stoploss (or smaller!) and made 100 pips...then THAT is a big deal! Especially if you can do it over and over again consistently.
I will continue reading and then hope to contribute something positive to the thread. Until then, congratulations on a great job with this thread!! Wishing all much continued success! Thank you especially to ForexAlien for taking an interest in teaching us mere humans and for fitting us into your busy UFO-building schedule!
- #8,768
- Dec 1, 2014 5:34am Dec 1, 2014 5:34am
- Joined Jul 2013 | Status: Trader | 2,603 Posts
{quote} thank you for the explanation.
Per aspera ad astra
- #8,769
- Dec 1, 2014 9:46am Dec 1, 2014 9:46am
- Joined Dec 2011 | Status: Part-time Trader | 1,519 Posts
Work smarter,not harder
- #8,771
- Dec 2, 2014 11:37am Dec 2, 2014 11:37am
- Joined Jul 2013 | Status: Trader | 2,603 Posts
{quote} For Alien and the group in general... How far will you allow a trade to go against you before you take the loss with this method? And in general, how far is the market moving against your entries before getting into profit?
my R/R never goes below 1:1, but I aim at 1:2.
Here is a statistic chart.
Here also a link of interest: http://www.dailyfx.com/forex/educati...ders_Make.html
Per aspera ad astra
- #8,772
- Dec 2, 2014 12:17pm Dec 2, 2014 12:17pm
- Joined Jul 2013 | Status: Trader | 2,603 Posts
Usd/Chf - Daily.
After the last swing we had a retracement. Following the higher TF we know we are in uptrend.
We can use the Fibo retracement to place our P.O. at 50 and 61,8 levels. Both were triggered and today we closed a safe trade.
If you look at Stochastics we can see a X Cross setup and then 8,3,3 and 21,10,10 go up together.
On H4 chart you can see clearly the Fibo levels triggered and today's X Cross also there. Moreover BBS and ADX contraction and expansion.
After the last swing we had a retracement. Following the higher TF we know we are in uptrend.
We can use the Fibo retracement to place our P.O. at 50 and 61,8 levels. Both were triggered and today we closed a safe trade.
If you look at Stochastics we can see a X Cross setup and then 8,3,3 and 21,10,10 go up together.
On H4 chart you can see clearly the Fibo levels triggered and today's X Cross also there. Moreover BBS and ADX contraction and expansion.
Per aspera ad astra
- #8,773
- Dec 2, 2014 4:12pm Dec 2, 2014 4:12pm
- Joined Dec 2011 | Status: Part-time Trader | 1,519 Posts
Usd/Chf - Daily. After the last swing we had a retracement. Following the higher TF we know we are in uptrend. We can use the Fibo retracement to place our P.O. at 50 and 61,8 levels. Both were triggered and today we closed a safe trade. If you look at Stochastics we can see a X Cross setup and then 8,3,3 and 21,10,10 go up together. On H4 chart you can see clearly the Fibo levels triggered and today's X Cross also there. Moreover BBS and ADX contraction and expansion.
Work smarter,not harder
- #8,774
- Dec 2, 2014 5:55pm Dec 2, 2014 5:55pm
- Joined Nov 2006 | Status: Because they DO exist... | 424 Posts
{quote} Hi Pipskateer, my R/R never goes below 1:1, but I aim at 1:2.
Did you plot that chart from your own data on Excel or some other source? As long as your values reflect full coverage of your transaction costs, then those parameters will be profitable. Personally, I want a bit more cushion on the minimum RR, so I shoot for all trades with a minimum of 2R. My aspirations for this system are that better than 2R is possible, but that will be my minimum.
With 2R trades, if you can achieve even a 60% win rate, you will generate almost 120% ROI every 100 trades with 1% risk per trade.
- #8,778
- Dec 2, 2014 7:49pm Dec 2, 2014 7:49pm
- Joined Nov 2014 | Status: Trader | 1,736 Posts
Hi and thanks to all here, my first trade using Alien's Grade A system, is not grade A entry, early short USDCAD Xcross on H4,
Also please can someone advise on best ADX min, max ?
Also please can someone advise on best ADX min, max ?
- #8,779
- Edited 3:49am Dec 3, 2014 3:31am | Edited 3:49am
- Joined Jul 2013 | Status: Trader | 2,603 Posts
{quote} Thanks Jpadvisor, Did you plot that chart from your own data on Excel or some other source? As long as your values reflect full coverage of your transaction costs, then those parameters will be profitable. Personally, I want a bit more cushion on the minimum RR, so I shoot for all trades with a minimum of 2R. My aspirations for this system are that better than 2R is possible, but that will be my minimum. With 2R trades, if you can achieve even a 60% win rate, you will generate almost 120% ROI every 100 trades with 1% risk per trade.
I have not enough record for this system but I do think, like you, that with some setups, we could go far better than 1:2.
I saw you are very keen on MM and your contibution will be much appreciated.
P.S. Look at this setup I posted on august 19.
Per aspera ad astra
- #8,780
- Dec 3, 2014 4:33am Dec 3, 2014 4:33am
- | Commercial User | Joined Jan 2013 | 1,524 Posts
{quote} Nope,it's not mine. It's extracted from the link posted. I have not enough record for this system but I do think, like you, that with some setups, we could go far better than 1:2. I saw you are very keen on MM and your contibution will be much appreciated.
Every man who thinks ahead of his time is sure to be misunderstood.