I looks like USD fell a bit overnight ... EU ran SL from last week highs. UCad near pivot confluence sup, and oil falling which make UCad rally. I longed USD here against E, Cad, and A.
Regards,
EZ
Regards,
EZ
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Multi-Lot Multi-Timeframe Position trading
- #931
- Feb 18, 2015 9:00am Feb 18, 2015 9:00am
Homework. Download as PDF, read, and be prepared to discuss http://cdn.preterhuman.net/texts/uns...0Following.pdf
Anyway, for who's interested, i developed a new technique of jumping in trends. It's for day workers, so for who can't follow markets every hour.
And i would like to come to you guys with a gift. I developed an ea which sends email when all rsis and heiken ashi for tf 1h - 4h - D - W are aligned.
Sends email on the close of the 1h, but if the signal has not changed in the meantime it doesn't send any email.
Talking about the book. Yes, interesting book but i think a little bit too long for the information contained.
Essentially
1) trade in trend, jump in on the breakout of highs.
2) don't rely on fundamentals
3) Always have a plan
4) Have a non discretionary approach
5) scaling in
6) Big risk -> big reward
7) trade as many markets as you can with the same approach.
- #932
- Feb 18, 2015 9:04am Feb 18, 2015 9:04am
- Joined Nov 2010 | Status: Snaggin' Some Pips | 2,159 Posts
- #933
- Feb 18, 2015 10:02am Feb 18, 2015 10:02am
- Joined Apr 2010 | Status: Trader | 1,101 Posts
{quote} Already read, reading now turtle trader
I agree that the book is a little long and wordy, but I've been accused of the same fault. I don't agree with everything in the book, but lots of it I do agree with. I'll note a few agreements and disagreements here as we go along. For instance, I don't rely on fundamentals, but I don't trade against them either. An example would be if a central bank wants their currency to go down in value. They own the printing presses. So, they are either just trying to talk it down without really doing anything, or they will print currency and drive it down. If they are really printing currency to drive it down, I wouldn't trade that currency long, regardless of what the charts say. That helps me avoid the apparent trends that are more likely to fail. I believe it gives me a slight edge over traders that do not follow fundamentals at all. It would be hard to argue logically that there is absolutely no value to fundamental analysis at all, but it is just one factor out of many. By itself, it's not the magic dust for profit.
- #934
- Edited 11:55am Feb 18, 2015 11:23am | Edited 11:55am
- Joined Apr 2010 | Status: Trader | 1,101 Posts
- #935
- Feb 18, 2015 11:57am Feb 18, 2015 11:57am
Guys, as promessed here it is my contribution:
THis basically alerts you whenever there's a change in the indicators.
If all indicators are aligned gives a signal on the close of hourly candle. But if the signal remains the same (for example RSI 1h doesn't go up the threshold and goes down again) it won't alert you anymore.
Please test it because i couldn't do it for much time. It worked appearently.
PS. obv the ea must be attached only on trending pairs, which are discretionally chosen
THis basically alerts you whenever there's a change in the indicators.
If all indicators are aligned gives a signal on the close of hourly candle. But if the signal remains the same (for example RSI 1h doesn't go up the threshold and goes down again) it won't alert you anymore.
Please test it because i couldn't do it for much time. It worked appearently.
PS. obv the ea must be attached only on trending pairs, which are discretionally chosen
Guys, as promessed here it is my contribution: THis basically alerts you whenever there's a change in the indicators. If all indicators are aligned gives a signal on the close of hourly candle. But if the signal remains the same (for example RSI 1h doesn't go up the threshold and goes down again) it won't alert you anymore. Please test it because i couldn't do it for much time. It worked appearently. PS. obv the ea must be attached only on trending pairs, which are discretionally chosen
Do not dwell in the past, do not dream of the future, concentrate the mind.
- #939
- Feb 18, 2015 3:46pm Feb 18, 2015 3:46pm
{quote} Already read, reading now turtle trader
Thanks for the EA, I am looking ahead of reading feedbacks on how it performs.
I wanted a bit comment on what you read and about your thoughts about the book G suggested to read.
First of all, you said you read the turtle traders. Well the program was definitely very successful and I guess I will read it too. It has to be an interesting read. On the other side, an experienced trader friend of mine told me our last trade shows how good we are. You can accept this or argue with it but you should check how the great turtle trader teacher turned out. We know his name, google it and read how he ended up. That is a lesson of its own.
One more thing, you comment or conclusion about the book. G already discussed that Fundamentals are important, at least to a certain point. I agree with it completely, I could never trade without having at least a little idea what is going on in the background. Of course it does not always mean I have the right analysis on Fundamentals but I try to get it right. I find interesting your very last point, I already addressed G why he does not trade all markets. You gave his reasons and I of course accept it, but I do agree with you, with this method it does not matter if we are looking at currencies, commodities or indexes.
Have a nice rest of the week everyone,
IBO