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Attachments: Daily green/red candle
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Daily green/red candle

  • #1,181
  • Jun 11, 2015 9:23pm Jun 11, 2015 9:23pm
Quoting stevepatt
{quote} Hi dimdel; I haven't got SP500 Oil or Nikkei on my platform so I will have to drop them. This is the setups I'm seeing for tomorrow, do you agree? EUR/USD-Sell GBP/JPY-Buy USD/CAD-Buy GBP/USD-Sell AUD/USD-Sell AUD/JPY-Buy Gold-Sell {image}
Check the AUD-USD

I see difference on the brokers I have and also with dimdel chart posted below yours
It takes a lot for me to IGNORE you, but you can try.
  • #1,182
  • Jun 11, 2015 9:59pm Jun 11, 2015 9:59pm
Quoting stevepatt
{quote} Hi dimdel; I haven't got SP500 Oil or Nikkei on my platform so I will have to drop them. This is the setups I'm seeing for tomorrow, do you agree? EUR/USD-Sell GBP/JPY-Buy USD/CAD-Buy GBP/USD-Sell AUD/USD-Sell AUD/JPY-Buy Gold-Sell {image}
Wouldn't trade GU. The Bar on daily is not very convincing.

Weekly bar is green. If you apply dimdel's rules on weekly chart, this is the first of green bar, which could mean a new upwards move is coming

Attached Image (click to enlarge)
Click to Enlarge Name: GU weekly.PNG Size: 27 KB
  • #1,183
  • Jun 12, 2015 12:28am Jun 12, 2015 12:28am
Quoting FxLapozi
{quote} Wouldn't trade GU. The Bar on daily is not very convincing. Weekly bar is green. If you apply dimdel's rules on weekly chart, this is the first of green bar, which could mean a new upwards move is coming {image}
hi lapozi

probably you have right
but i will trade with my way like experiment

to me is red so go short , i dont see big or small red or candle formations
i look only the color,
if in my broker is red but in other broker is green , ( because almost cross ) , no matter, the bad case is to lose this trade .
i dont want interpret or provided the market
maybe i am wrong.........maybe not....... who knows.....
  • #1,184
  • Jun 12, 2015 12:41am Jun 12, 2015 12:41am
Quoting Erebus
{quote} Check the AUD-USD I see difference on the brokers I have and also with dimdel chart posted below yours

Hi Erebus;

When I took the image the AUD/USD Daily Candle was RED, when the New Daily Candle Opened it was GREEN so no setup.

This is the Pending Orders I have.
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  • #1,185
  • Jun 12, 2015 12:51am Jun 12, 2015 12:51am
today

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  • #1,186
  • Jun 12, 2015 12:59am Jun 12, 2015 12:59am
Quoting FxLapozi
{quote} Wouldn't trade GU. The Bar on daily is not very convincing. Weekly bar is green. If you apply dimdel's rules on weekly chart, this is the first of green bar, which could mean a new upwards move is coming {image}

Hi FxLapozi;

As dimdel, says you are correct in what you are saying about the Weekly Candle.

But we are Trading the Daily Time Frame and there are probably hundreds of different permutations that could be used in deciding on a trade Setup.

I've looked at other things myself but this just adds extra layers of complexity that "might not" be needed, we'll see going forward.

As I have said in previous posts this is the first method I've come across where there is absolutely no ambiguity in either Setup/Entry/Stop Loss/Take Profit.
  • #1,187
  • Jun 12, 2015 1:08am Jun 12, 2015 1:08am
Quoting dimdel
today {image}

Hi dimdel;

The only pair, where I see significant difference is NZD/JPY.

We are in sync with the other pairs.
Attached Image (click to enlarge)
Click to Enlarge Name: 12th June 15 NZD:JPY D1 Chart.png Size: 62 KB
  • #1,188
  • Jun 12, 2015 1:40am Jun 12, 2015 1:40am
Quoting stevepatt
{quote} Hi dimdel; The only pair, where I see significant difference is NZD/JPY. We are in sync with the other pairs. {image}
RIGHT
  • #1,189
  • Jun 12, 2015 1:41am Jun 12, 2015 1:41am
I want ask this to all

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  • #1,190
  • Jun 12, 2015 1:48am Jun 12, 2015 1:48am
in my real account i do it
but i am not sure yet if is right
if your opinion is to include in the rules ok
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  • #1,191
  • Jun 12, 2015 1:59am Jun 12, 2015 1:59am
Quoting dimdel
I want ask this to all {image}
As they say "That is the Eternal Question" because to wait for the confirmation of moving lower than the previous day's low 'may' reduce the number of false entries at the 'cost' of greater risk (SL placed farther away) and reduced profits (TP closer). It may also help to ensure higher trade accuracy by hitting TP more often.

Unfortunately, I don't have the answer. It would take some back testing and statistical analysis to see which set of rules fit into the profit, risk, reward and draw down comfort zone of each individual trader. And even then, the markets continually change and evolve.

Good luck on your journey, and may GREEN pips continually fill your account.
  • #1,192
  • Jun 12, 2015 2:08am Jun 12, 2015 2:08am
Quoting SmoothTrader
{quote} As they say "That is the Eternal Question" because to wait for the confirmation of moving lower than the previous day's low 'may' reduce the number of false entries at the 'cost' of greater risk (SL placed farther away) and reduced profits (TP closer). It may also help to ensure higher trade accuracy by hitting TP more often. Unfortunately, I don't have the answer. It would take some back testing and statistical analysis to see which set of rules fit into the profit, risk, reward and draw down comfort zone of each individual trader. And...
thanks smoothtrader

you are welcome for a cup of greek coffee
because here the way that i am trading

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  • #1,193
  • Jun 12, 2015 2:30am Jun 12, 2015 2:30am
Quoting dimdel
I want ask this to all {image}

Hi dimdel;

For me it depends on the type of Setup Candle I'm entering at Market Price from.

For me to enter at Market Price I would want to see a positive close of the Setup Candle.

Something that might be worth considering is the amount of pips it will take to activate a trade. We don't want the Market to be exhausted by the time our Trades are activated.
Attached Image (click to enlarge)
Click to Enlarge Name: 12th June 15 GBP:USD D1 Chart.png Size: 88 KB
  • #1,194
  • Jun 12, 2015 3:27am Jun 12, 2015 3:27am
hi everybody,

I attached my early version of my BT indicator.
I still want to add some stuff but I am lack of time atm so I decided to share already.
there are still some mistakes and its maybe not 100% accurate but it gives a good impression and its easier to check trades.

as I said before I think it still needs some other rule like day, candlesize or something but this is only my point of view.

I wish everybody fun testing.

TM
Attached File(s)
File Type: ex4 DailyCandleVer1.0.ex4   43 KB | 307 downloads
  • #1,195
  • Jun 12, 2015 4:01am Jun 12, 2015 4:01am
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  • #1,196
  • Jun 12, 2015 4:08am Jun 12, 2015 4:08am
2 brokers data

well the backtest is no good idea

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  • #1,197
  • Jun 12, 2015 5:44am Jun 12, 2015 5:44am
I guess I t depends on the broker. but everybody I s free to decide himself if its useful or not.
its easy to check the trades and for example cut sunday or Monday trades or just use a broker without sunday candles like I do.

should be just a visual tool to make a quicker BT.
also possible to use lower TF with Daily lines so its easy to see maybe other setups, like H4,H1 needs close over Daily Breakout.

TM
  • #1,198
  • Jun 12, 2015 9:18am Jun 12, 2015 9:18am
Quoting dimdel
I want ask this to all {image}
Basically IMO this is taking the DimDel system and combining the Robinho system which I think is a good idea because both have been successful and it is a good way to pick up extra pips. I don't know if we should just take 10-20 pips extra or let them run to the original Entry. It is good discussion and I am going to try it all next week.
  • #1,199
  • Jun 12, 2015 9:43am Jun 12, 2015 9:43am
Quoting FxLapozi
{quote} Wouldn't trade GU. The Bar on daily is not very convincing. Weekly bar is green. If you apply dimdel's rules on weekly chart, this is the first of green bar, which could mean a new upwards move is coming {image}
New High. I was spot on.

Next week will be retracement then followed by stronger bull.
  • #1,200
  • Jun 12, 2015 11:11am Jun 12, 2015 11:11am
Quoting tomthepoppop
{quote} Basically IMO this is taking the DimDel system and combining the Robinho system which I think is a good idea because both have been successful and it is a good way to pick up extra pips. I don't know if we should just take 10-20 pips extra or let them run to the original Entry. It is good discussion and I am going to try it all next week.

hi tom

Robinho method is other thing
we have common elements but other concept
but if one system take elements for other system and have positive results, then i agree to see it
Robinho have big sl and small tp , this is at first error
a system must have min RR 1;1 , no less, because if i have RR 2;1
then i play pigpong the spreads with my broker and i give him extra bonus some pips
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