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Daily green/red candle

  • #921
  • Jun 1, 2015 10:58am Jun 1, 2015 10:58am
Quoting AbhijetPandi
Today got only 1 trade USDCAD since i have used ultrafxtrend to consider daily above for buy... now almost 30+ pips... {image}
Hi AbhijetPandi,
I confirm your trade long on the "Looney" (USDCAD). My system has also been triggered.
2 conforting candles patterns: the daily candles on European and American Time Zones are Inside Day, very bullish when taken-out.
Good evening (I understood you were in Asia Zone)
Xavier
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 274 KB
  • #922
  • Jun 1, 2015 11:40am Jun 1, 2015 11:40am
Another interesting short trade on "Aussie" (AUDSUD), conforted by 4 bearish patterns when taken out: 3 Inside Days for each Time Zone, plus the American Time Zone candle - last yellow rectangle on the right - being the smallest range since 20 days - 44 pips.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 253 KB
  • #923
  • Jun 1, 2015 12:04pm Jun 1, 2015 12:04pm
The USD/CAD D1 is an example of how classic "Price Action" can be misleading and the Market going against the obvious PA.

The GBP/JPY chart is another example of the Market going against the obvious PA.

I know, some of this was news led but it shows how difficult reading the Markets can be when using Support/Resistance and Price Action.

In reality, there are no Time Frames and Market Price is Linear, a continuous line of Market movement that gets chopped into regular segments.

So, something as seemingly random as a "Candle" changing colour can be as effective as any other, more sophisticated, method of entering a Linear Liquid Market.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 1st June 15 USD:CAD D1 Chart.png Size: 102 KB
Click to Enlarge Name: 1st June 15 GBP:JPY D1 Chart.png Size: 95 KB
  • #924
  • Jun 1, 2015 12:40pm Jun 1, 2015 12:40pm
Quoting stevepatt
The USD/CAD D1 is an example of how classic "Price Action" can be misleading and the Market going against the obvious PA. The GBP/JPY chart is another example of the Market going against the obvious PA. I know, some of this was news led but it shows how difficult reading the Markets can be when using Support/Resistance and Price Action. In reality, there are no Time Frames and Market Price is Linear, a continuous line of Market movement that gets chopped into regular segments. So, something as seemingly random as a "Candle" changing colour can be...
Hi Steve,
I agree with your last sentence.
Which is fascinating in trading is that everything is true, and its contrary also!!!
This is why so many different succesfull trading systems exist, based on completely different approaches.
The only problem is, especially with automatic systems or algorithmic systems, that they are successfull during a window of time more or less long. Savy traders know that and play the game quickly, using highly leveraged trades and agressive money management (pyramiding), then they quit the game (when they are not too much greedy) before the system exhaust itself.
My son is a Quant Trader, and he tells me that the pro's are not so much sophisticated as we could expect them to be: they use simple moving average cross-over to take trading décisions, but they have a quite strong risk analysis and money management approach. You have mentionned that in one of your posts, and it's true that in the case of this Daly Green/Red system, money management is an issue, especially if we play a lot of pairs in teh same time.
Personnaly, I prefer to select the pairs I am trading, based on other considérations, and by avoiding corrélations as much as possible.
Xavier
  • #925
  • Jun 1, 2015 1:34pm Jun 1, 2015 1:34pm
Quoting XavierParisF
{quote} Hi Steve, I agree with your last sentence. Which is fascinating in trading is that everything is true, and its contrary also!!! This is why so many different succesfull trading systems exist, based on completely different approaches. The only problem is, especially with automatic systems or algorithmic systems, that they are successfull during a window of time more or less long. Savy traders know that and play the game quickly, using highly leveraged trades and agressive money management (pyramiding), then they quit the game (when they are...

Hi Xavier;

This is it, there is no one Method that will fit all.

I've always been drawn to Trend Trading after a Pullback in the Primary Trend and then looking for Price Action at Support/Resistance to take a Trade.

I can make this work, for me, but it can be time consuming in waiting for Trades to set up and frustrating when I don't get the Price Action, I'm looking, for in the place where I'm looking, you get the picture.

During the time I was Trading this way I could see many Short Term opportunities that i was missing, where as you say, there is a small window of time in which to benefit from taking a trade.

What, I'm looking to do now is to catch those Short Term Opportunities.

I'm now looking for far Smaller R Returns but the setups I'm now looking for occur far more often and so far seem to be reliable.
  • #926
  • Jun 1, 2015 1:42pm Jun 1, 2015 1:42pm
I wish everyone profits in whatever method you have

but The simple NUDE chart have a magic, a pride and grandeur and gives a calmness
in my age the daily Calm is basic parameter

i prefer to have specific entry/TP/SL TrSl ,EVEN wrong signal
than try to predict the mpvement
i trade what i see not what i want to see

but finally who is right?
the right evidenced by the account balance
and mine isnt yet able to prove my right
Dim
  • #927
  • Jun 1, 2015 1:46pm Jun 1, 2015 1:46pm
Quoting dimdel
I wish everyone profits in whatever method you have but The simple NUDE chart have a magic, a pride and grandeur and gives a calmness in my age the daily Calm is basic parameter i prefer to have specific entry/TP/SL TrSl ,EVEN wrong signal than try to predict the mpvement i trade what i see not what i want to see but finally who is right? the right evidenced by the account balance and mine isnt yet able to prove my right Dim
  • #928
  • Jun 1, 2015 2:38pm Jun 1, 2015 2:38pm
Hi bro..
How are you?
I know that u backtest your strategy, but anyway i also backtest your strategy. with no change.
Entry at 100
SL at 00
TP at 200
AND trsl at 140(+5 pips protection)
I strictly follow the rule and done with no mistake.
all entry and exit are solid with strategy.

I am glad to see that they hit SL very less..
but cant catch big moves, i think we should work on this into how to catch big moves.

backtest was on EURUSD(jan,feb,mar,apr) 4 month
and as u can see jan gave me negative result.....
Attached File(s)
File Type: xlsx Results.xlsx   87 KB | 443 downloads
  • #929
  • Jun 1, 2015 4:04pm Jun 1, 2015 4:04pm
Quoting dimdel
I wish everyone profits in whatever method you have but The simple NUDE chart have a magic, a pride and grandeur and gives a calmness in my age the daily Calm is basic parameter i prefer to have specific entry/TP/SL TrSl ,EVEN wrong signal than try to predict the mpvement i trade what i see not what i want to see but finally who is right? the right evidenced by the account balance and mine isnt yet able to prove my right Dim
You are right Dimdel, which is important is to be confortable with a way of trading, a time horizon and a system. We have all different needs and aspirations.
But as Steve was saying, risk management is really important for the Daily Green/Red system, especially if you intend to trade many pairs together at the same time, given the fact that some of them are highly correlated.
I understood (from various readings and researches) that 8 to 10 trades in parrallel was a maximum (unless that the Daily Green/Red system be the exception that confirms the rule...).
  • #930
  • Jun 1, 2015 4:26pm Jun 1, 2015 4:26pm
EUR/USD Short
USD/CHF Long

Pending orders set.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 1st June 15 EUR:USD D1 Chart.png Size: 89 KB
Click to Enlarge Name: 1st June 15 USD:CHF D1 Chart.png Size: 89 KB
  • #931
  • Jun 1, 2015 4:46pm Jun 1, 2015 4:46pm
Quoting stevepatt
EUR/USD Short USD/CHF Long Pending orders set. {image} {image}
hi steve
just you have double the hedging, if the next days you must put opposite orders
its too risky for live
  • #932
  • Jun 2, 2015 12:21am Jun 2, 2015 12:21am
Quoting stevepatt
EUR/USD Short USD/CHF Long Pending orders set. {image} {image}
I have set the same pending order on the EURUSD short. A bit scared of the CHF

DD
  • #933
  • Jun 2, 2015 12:37am Jun 2, 2015 12:37am
GA- short closed with TP of 125 pips.
EU short- pending order
  • #934
  • Jun 2, 2015 12:45am Jun 2, 2015 12:45am
Quoting sdatta
GA- short closed with TP of 125 pips. EU short- pending order
yes , you can close with profit anywhere you want
but no yet at the TP 200fib

Attached Image
  • #935
  • Jun 2, 2015 1:06am Jun 2, 2015 1:06am
Quoting Dildubai
{quote} I have set the same pending order on the EURUSD short. A bit scared of the CHF DD

Hi Dildubai;

Yes, I've closed the Pending Buy Stop on USD/CHF.
  • #936
  • Jun 2, 2015 1:08am Jun 2, 2015 1:08am
Quoting dimdel
{quote} hi steve just you have double the hedging, if the next days you must put opposite orders its too risky for live
Hi Dimdel & Steve,
Take care that EURUSD and USDCHF are highly correlated:
- last 3 months correlation coefficient: -0.89
- last month correlation coefficient: -0.95
In fact , if you short EURUSD and long USDCHF, you are taking 2 times the same position!
@+Xavier
  • #937
  • Jun 2, 2015 1:14am Jun 2, 2015 1:14am
there were 15 signals from 28 pairs today. i have placed 7 trades, but will cancel some NZD pending as they fill so as not to be over exposed. Have a 5 % short on EU. I have also placed a buy on USD/SGD. I took a look at a bunch of charts over the weekend, and I like the charts of SGD for this system and will forward test it . I will post some charts....
  • #938
  • Jun 2, 2015 1:21am Jun 2, 2015 1:21am
Quoting stevepatt
EUR/USD Short USD/CHF Long Pending orders set. {image} {image}
Hi Steve,
Just a question and advice from you:
how did you manage to get the rounded price level lines on your MT4 screen?
Is it an indicator that you have coded yourself or is it an existing function in MT4?
Thanks for your help.
Xavier
  • #939
  • Jun 2, 2015 1:36am Jun 2, 2015 1:36am
Attached Image (click to enlarge)
Click to Enlarge Name: 2015-06-02 01_08_48-EURUSD,Daily red green.png Size: 67 KB


EU...pullback in a down trend.

at signal candle, Gadi OBV is pointing down, Currency DIFF is rolling over. This is not yet an ideal "perfect" setup for me as I would like the USD (light green) to be above zero and moving away from the EUR (light blue) being below 0 (still above 0) when looking at the components of the individual strength meter Gadi_Currencies v3.0 DIFF. When that happens I candle trail and look for a multi day move. I may not get a good example of that until after this news week clears as I expect a lot of volatility this week.
Volume is RED. The bottom indicator is TVI v2 at 8,8,5. I normally use the Gadi Tick Volume but it is a resource hog) and gives the same signal as this and this has an alarm when color changes on close. Regardless it shows the recent move as a pullback in a down trend (Below 0 = DT). Although this is the only lagging indi I use, it is only used to decide my risk and not my entry. I am planning to take half off at today's 10 day ATR low which coincides with 150 fib and recent swing low on the daily chart. At that point I will move to B/E and set a jumping stop trail to look for 3.p0 Fib extension before ECB meeting.
  • #940
  • Jun 2, 2015 1:37am Jun 2, 2015 1:37am
Quoting XavierParisF
{quote} Hi Steve, Just a question and advice from you: how did you manage to get the rounded price level lines on your MT4 screen? Is it an indicator that you have coded yourself or is it an existing function in MT4? Thanks for your help. Xavier

Hi Xavier;

It's an Indicator I use to see the 00 round number, on my chart, it gives me a quick visual of how far the Market is moving.

I have it set to display the 00 numbers only.
Attached File(s)
File Type: ex4 BN Levels v1.01.ex4   15 KB | 411 downloads
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