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Trading is as simple as ABCD

  • #5,181
  • Apr 16, 2015 1:38am Apr 16, 2015 1:38am
Hi Clive

On your recent posts. First trade is always the best. First system trade that is, so I agree totally with your 'take the first two' comment.

On the 1hr issue, I can recall chatting with Shamus (perhaps he was here before your time but a very bright lad) and I had the strategy of follow the 1hr with entry from 1 min. Ihr candle closes will often (but not always) lead the way and I have those charts up (with 3 bar reversal indi from my thread loaded).

But the basis of your system as a standalone is pretty darn good (still using strength/weakness across pairs/the board).
  • #5,182
  • Apr 16, 2015 1:50am Apr 16, 2015 1:50am
Quoting Vantage
Hi Clive On your recent posts. First trade is always the best. First system trade that is, so I agree totally with your 'take the first two' comment. On the 1hr issue, I can recall chatting with Shamus (perhaps he was here before your time but a very bright lad) and I had the strategy of follow the 1hr with entry from 1 min. Ihr candle closes will often (but not always) lead the way and I have those charts up (with 3 bar reversal indi from my thread loaded). But the basis of your system as a standalone is pretty darn good (still using strength/weakness...

Hi Mr V.

Yep and I'm thinking its about trading the right 120HMA or 100lwma turn down, qualify the ones you want to trade by the very simple rule of is it a LH turn down or a HL turn up???

So look at a chart and when you get a slope change have a look at the previous slope change and decide whether its worth trading or not????

Same old stuff sell the peaks in a downtrend or buy the dips in an uptrend, just enter on the 1 min chart..first 2 CCI turns after a slope change..
Feel the Fear and do it anyway!!!
  • #5,183
  • Apr 16, 2015 4:05am Apr 16, 2015 4:05am
Quoting honestknave
{quote} Thanks
Amazing Dashboard honestknave,

Untill now 7 trades made (demo) and all winners...just by using your dashboard (1 min)
I have my Tp set @ 5 pips ans Sl @ 15 pips.

For some reason i cant delete currencies from my marketwatch but i concentrate on the majors.

Richard
  • #5,184
  • Apr 16, 2015 4:20am Apr 16, 2015 4:20am
For those of you making/using dashboards, this might be of interest :-

www.wyfxco.com
  • #5,185
  • Apr 16, 2015 4:26am Apr 16, 2015 4:26am
Quoting hollandpippin
{quote} Amazing Dashboard honestknave, Untill now 7 trades made (demo) and all winners...just by using your dashboard (1 min) I have my Tp set @ 5 pips ans Sl @ 15 pips. For some reason i cant delete currencies from my marketwatch but i concentrate on the majors. Richard
Excellent-I'm glad it has been of some use Try closing the dashboard chart then restart MT4. Now, remove the pairs you don't want from the Market Watch then open the dashboard.For some reason, MT4 doesn't let go of symbols it has previously accessed, even if the chart is now closed.
  • #5,186
  • Apr 16, 2015 5:07am Apr 16, 2015 5:07am
Quoting honestknave
{quote} Excellent-I'm glad it has been of some use Try closing the dashboard chart then restart MT4. Now, remove the pairs you don't want from the Market Watch then open the dashboard.For some reason, MT4 doesn't let go of symbols it has previously accessed, even if the chart is now closed.
Thanks that did the trick.

Richard
  • #5,187
  • Apr 16, 2015 5:39am Apr 16, 2015 5:39am
Quoting hollandpippin
{quote} Thanks that did the trick. Richard
  • #5,188
  • Apr 16, 2015 5:57am Apr 16, 2015 5:57am
Here is something a little different which builds on an indicator I posted a while back to take a more holistic approach to identifying trending pairs.

Disclaimer: I have absolutely no idea if there is any merit to it. I have not done any testing on the theory yet, at all!
Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD-sbM1.png Size: 55 KB


The idea goes something like this:

First, you decide how you want to quantify a trend. The default is the slope of a 100 period LWMA over the last 15 bars.

The trend measurements are then averaged across several pairs.
For example, the EA will look at EURUSD, GBPUSD, USDJPY, AUDUSD, NZDUSD, USDCAD, USDCHF and from these derive a strength for the USD.
It then repeats it for all the other currencies.

The EA then decides the theoretical trend strength of a pair. Using the example below, EURUSD is calculated as having a theoretical trend strength of +89.1
This figure comes from EUR +34.2 and USD -55.0... both of which support an uptrend on EURUSD.
(It actually comes to +89.2 but that difference comes from the rounding)
Attached Image (click to enlarge)
Click to Enlarge Name: Calculated.png Size: 55 KB


The dash will also look at what a pair is actually doing, and compare this to the theoretical value. So, using the example below GBPCAD is calculated as +82.4 but the actual value for GBPCAD is +87.5... or to put it another way, GBPCAD is trending stronger than it should be.
Attached Image (click to enlarge)
Click to Enlarge Name: performance.png Size: 55 KB


This is the area I'm exploring. There are 2 schools of thought:

  1. Trade the pairs that are overperforming
  2. Look for opportunities on the pairs that are underperforming (because this could be caused by a retracement before the trend resumes).

Attached File(s)
File Type: ex4 BasketDashboard.ex4   47 KB | 404 downloads
  • #5,189
  • Apr 16, 2015 6:19am Apr 16, 2015 6:19am
Hey Clive!
Have you ever tried a 5 min reverse candle in any top trender for the trade, with a SL of previous 2 candles' top or bottom(buy trend or sell trend)
TP can be at 10-15 pips(or end of next 5 min candle) if you're conservative or TP till BE if aggressive
Let me just explain what I mean with the images.
Please let me know if I'm just choosing the ones that work and ignoring the times it didn't.
Also, these 2 were top of the TTindy when it was happening.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURCAD.jpg Size: 603 KB
Click to Enlarge Name: GBPUSD.jpg Size: 614 KB
  • #5,190
  • Apr 16, 2015 6:24am Apr 16, 2015 6:24am
And as we speak, another top trender as well.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPCAD.jpg Size: 690 KB
  • #5,191
  • Apr 16, 2015 6:34am Apr 16, 2015 6:34am
Quoting honestknave
Here is something a little different which builds on an indicator I posted a while back to take a more holistic approach to identifying trending pairs. Disclaimer: I have absolutely no idea if there is any merit to it. I have not done any testing on the theory yet, at all! {image} The idea goes something like this: First, you decide how you want to quantify a trend. The default is the slope of a 100 period LWMA over the last 15 bars. The trend measurements are then averaged across several pairs. For example, the EA will look at EURUSD, GBPUSD, USDJPY,...
Nice work
But your numbers are a little bit of again compared to my calculations. Do you divide them by 8 maybe? Like here:
http://www.forexfactory.com/showthre...80#post8182280
Quote
After adjustment for base/quote, the aggregate becomes +82
You could average it to 10.25 if you wanted.
Because that would be wrong. You have to divide it by 7 instead. Because with 28 pairs there are 7 pairs of each symbol.
  • #5,192
  • Apr 16, 2015 8:50am Apr 16, 2015 8:50am
A small four pips. The BRN kept me honest. When the sell line was at the BRN, my bid line was almost 3 pips higher. That is why it looks like I did not let it go to the BRN. Spread makes a difference for sure.
Attached Image (click to enlarge)
Click to Enlarge Name: USDCHFM1.png Size: 54 KB
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #5,193
  • Apr 16, 2015 11:13am Apr 16, 2015 11:13am
Been a bit too busy to trade today looks like I missed all the fun on EURUSD this morning...


Attached Image (click to enlarge)
Click to Enlarge Name: Should be selling EURUSD.png Size: 64 KB


Isn't it funny how since we've talked about selling EURUSD because of its strong daily trend it keeps going up??? Heres something even funnier I've convinced myself we should sell EURUSD every chance we get and this morning that belief lost me 30 pips... Did something mad for me, I decided London was taking it down today so put a couple on with 15 pip stops and walked out the door, didn't move em to BE or nothing just thought leave em to do whatever they want.

last time I do that....

This is why I don't look at higher timeframes because it misleads me and makes me doubt any counter trend trades that come my way. I've rather just trade the direction the 1 mins moving until it stops, simple as that. Far simpler in my head than all this longer term stuff, far too complicated for a simple guy like me..

The more I look up at higher timeframes the more of a pickle I get myself in so I'm looking no higher than 15 min and then I'm only interested in levels and CCI signals I'm not taking a directional bias based on higher timeframes, just doesn't work for me..

So back to today and this little setup on EURUSD been up about 15 pips on this move but gonna try the AB+CD rule out, so got my TP just below the 100% fib extension as theres a massive spike there so just below the top of that for my TP..

Attached Image (click to enlarge)
Click to Enlarge Name: AB=CD trade.png Size: 62 KB


lets see how this works out....
Feel the Fear and do it anyway!!!
  • #5,194
  • Apr 16, 2015 11:57am Apr 16, 2015 11:57am
Well thats the end of that plan out for nowt....
Feel the Fear and do it anyway!!!
  • #5,195
  • Apr 16, 2015 12:36pm Apr 16, 2015 12:36pm
If at first you don't succeed try try again...
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDM1.png Size: 69 KB
Feel the Fear and do it anyway!!!
  • #5,196
  • Apr 16, 2015 12:49pm Apr 16, 2015 12:49pm
Had a bit of a reaction there so shook me out for 20 pips before it flew, funny old game...
Feel the Fear and do it anyway!!!
  • #5,197
  • Apr 16, 2015 1:18pm Apr 16, 2015 1:18pm
Quoting GodsClown
{quote} Nice work But your numbers are a little bit of again compared to my calculations. Do you divide them by 8 maybe? Like here: http://www.forexfactory.com/showthre...80#post8182280 {quote} Because that would be wrong. You have to divide it by 7 instead. Because with 28 pairs there are 7 pairs of each symbol.
Hi GodsClown,

Thanks for the comments. Good spot on my earlier post, but rest assured this dash does use 7 (not 8) in the averaging calculation

The only other difference is I don't hardcode the factors; I'm using POINT because that is already used as part of my pair-availability check. Ultimately, it shouldn't make any difference to the numbers... are you noticing a sizeable discrepancy? As long as the method is consistent, minor variations in technique shouldn't be too concerning.
  • #5,198
  • Apr 16, 2015 1:29pm Apr 16, 2015 1:29pm
Quoting honestknave
Here is something a little different which builds on an indicator I posted a while back to take a more holistic approach to identifying trending pairs. Disclaimer: I have absolutely no idea if there is any merit to it. I have not done any testing on the theory yet, at all! {image} The idea goes something like this: First, you decide how you want to quantify a trend. The default is the slope of a 100 period LWMA over the last 15 bars. The trend measurements are then averaged across several pairs. For example, the EA will look at EURUSD, GBPUSD, USDJPY,...
Hi honestknave

wow
very cool indy

thx a lot.
  • #5,199
  • Apr 16, 2015 1:35pm Apr 16, 2015 1:35pm
Im recovering from very bad lossers (-38) two of them for entrys not by the rules thinking it will go down and one that was +10 and Im not go for the BE and end being a losser. Just with this last 2 Im recover some.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD.png Size: 78 KB
  • #5,200
  • Apr 16, 2015 1:38pm Apr 16, 2015 1:38pm
Quoting blueface
{quote} Hi honestknave wow very cool indy thx a lot.
Thanks
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