{quote} All the indicator is doing is finding the HH or the LL within the given number of bars (Q Value). Once there is a new HH or LL in the given period, you get a box.
finally someone said it
- #1,962
- Sep 28, 2015 2:12pm Sep 28, 2015 2:12pm
{quote} All the indicator is doing is finding the HH or the LL within the given number of bars (Q Value). Once there is a new HH or LL in the given period, you get a box.
but how does he determine that Q value , how he calculates what Q value he will use for his selected pairs
for example the range was 120pips so i will give my Q value 200 today , what is his calculaton their
- #1,964
- Sep 28, 2015 8:21pm Sep 28, 2015 8:21pm
- Joined Jun 2006 | Status: Fx trader | 2,944 Posts
{quote} y but he decides the Q value for each pair when he looks to the previous days , when it was ranging big or didn't move that much, but how does he determine that Q value , how he calculates what Q value he will use for his selected pairs for example the range was 120pips so i will give my Q value 200 today , what is his calculaton their
Sai Ram
Being a fxtrader is not easy. Ones must working hard.
{quote} y but he decides the Q value for each pair when he looks to the previous days , when it was ranging big or didn't move that much, but how does he determine that Q value , how he calculates what Q value he will use for his selected pairs for example the range was 120pips so i will give my Q value 200 today , what is his calculaton their
- #1,966
- Sep 28, 2015 10:25pm Sep 28, 2015 10:25pm
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
{quote} I really wonder what you mean with Q value = quantum value? I mean does the box have a value or something? I just see boxes , to know what pair you gonna trade that day , you calculate the Q value of the boxes or something? I don't really understand what you mean with it. Sorry for this question
There are at least 2 forms of analysis being conducted from my take on the Q method for the Asian session regarding the M1 time frame!
1. For a single pair traded; and
2. For multiple pairs traded
At the moment I am trading anywhere from 3 to 5 currency pairs at the same time during a 5 hour window (+ additional closure time as required) from Tokyo Open to TO + 5 hours.
The strategy is still being forward tested live so don't rely too much on Q values applied especially for the multiple pair trades (that is one reason why for Monday Asian session trades I did not include any Q values).
For multiple pairs the Q value choice looks at ranges, desired frequency of entries and many other dynamic factors.
For instance on a particular trading day I might have a bias over trading more frequently for 2 pairs such as GU and EU and adjust Q value accordingly to generate higher frequency entries compared to the other 2-3 pairs which are setup to trade less frequently.
Depending on how trading is progressing in my allocated trading window the Q values may or may not need to be adjusted.
Typically it is the exit Q value (not always of course) that I am regularly adjusting to keep with the flow of price action on the chart.
However, many other factors are considered at the same time (dynamic process) especially the relationship between the exit Q value to key levels of S+R, pivots, DO line, Fib ratios among others.
This might appear to be complicated at first glance but my eyes do a lot of the work and many times I simply make a few small changes, watch price action at key levels etc etc and adjust as required.
The important point to make here is that all the trades are monitored, chart analysis continues throughout and a live news feed is followed.
Keeping in tune (or doing your very best to keep in tune) with the market is very important!
ps. although I'm very confident with my multiple pair strategy and it is doing very well, it is in its infancy and I still wish to fine tune it!
Hope that helps,
Masterrmind............
Master your Mind then Master your Trades
- #1,967
- Sep 28, 2015 10:27pm Sep 28, 2015 10:27pm
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
{quote} If you know how to find the Q value accurately then it is like you win the jackpot.
This is why a trader must apply judgement from a dynamic point of view.
You will still do well by being rather rigid in your approach but by being flexible and dynamic and following the price action as the trading day unfolds then you will or should do a lot better
Masterrmind...........
Master your Mind then Master your Trades
- #1,968
- Sep 28, 2015 11:26pm Sep 28, 2015 11:26pm
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
{quote} I really wonder what you mean with Q value = quantum value? I mean does the box have a value or something? I just see boxes , to know what pair you gonna trade that day , you calculate the Q value of the boxes or something? I don't really understand what you mean with it. Sorry for this question
Plot Q = 135 on your GU [M1] chart, make a vertical line 135 candles back from the current candle and observe both the lowest and the highest price level between these 2 locations...... it should be obvious!
Now apply another instance of the Quantum indicator on the same GU [M1] chart but this time set Q = 300 (use different colors to distinguish between the values) and observe the difference. You should now have 2 sets of Q values (the painted boxes) and 2 vertical lines (1 @ 135 candles back from current candle and the other 300 candles back).
Look at the screenshot I started with Q = 135 for the GU pair, but look at the current range it appears to be tightening a little, would you agree?
What should you do?
Wait for price to hit your exit or adjust Q lower to get into and out of several more entries?
Should you adjust Q now in anticipation of the next long or short cycle of trades ?
These are questions that need to be answered by the individual because we all have different objectives, might be trading 1 pair or several pairs, might have a small, medium or larger account and varying risk tolerance..........
Some can handle a bigger DD others cannot, some like to enter 5 trades max others >20 is normal............
So the choice of Q reflects upon the individual traders circumstances as much as the chart being traded (or charts being traded) so it is not a case of one fits all I'm afraid.
Best that you test different Q values during your choice of trading window and make adjustments that suit you personally.
Look at your trading plan for the day.......... what does it suggest that you do!
Do not trade blindly!
ps. In a very tight range trading window it is reasonable to expect either the same or many different Q values based on individual circumstances so try to customize the setup that best suits you.
Masterrmind.......... :nerd:
Master your Mind then Master your Trades
- #1,969
- Sep 28, 2015 11:43pm Sep 28, 2015 11:43pm
- Joined Oct 2010 | Status: Trader | 21,478 Posts
Intraday only.
- #1,970
- Sep 29, 2015 12:17am Sep 29, 2015 12:17am
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
Master your Mind then Master your Trades
- #1,971
- Sep 29, 2015 12:48am Sep 29, 2015 12:48am
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
EURAUD [H4; 50/manual - 50/manual]
High on my watch list ..........
Masterrmind............
High on my watch list ..........
Masterrmind............
Master your Mind then Master your Trades
- #1,972
- Sep 29, 2015 1:03am Sep 29, 2015 1:03am
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
EURCAD [H4; 50/manual - 50/manual]
High on my watch list ...........
Several other pairs also moving within my strike zone.
Observation, alignment and execution.
Masterrmind.........
High on my watch list ...........
Several other pairs also moving within my strike zone.
Observation, alignment and execution.
Masterrmind.........
Master your Mind then Master your Trades
Hi, I wonder if that is intended by this EA or not but why long positions are not automatically open after short have been successfully closed? Is there something which I need to tweak in settings. Or do I have wrong EA version? Long and short chosen already in common tab. Thanks {image}
you have to ask that question on EA thread, not here. This is all manual trading section
cheers
hannele
- #1,977
- Sep 29, 2015 6:14am Sep 29, 2015 6:14am
- Joined Jan 2014 | Status: Trader | 1,783 Posts
Hi all
Here's an example of one of my trades on UC h4 that I'm currently involved in that is not doing so well at this point in time.
It fulfilled my criteria to take the trade on, but not every trade behaves the way we would like it to, and this one illustrates that point quite clearly, and I felt it was worth posting on that basis, just in case people think that all trades posted need to be winners straight off the bat, sometimes we need to be realistic, and allow the trade time, and if we happen to get stopped out, then so be it, this one may well get stopped out, but that is the reason we have our stops....to control our risk whilst giving the trade a chance.
The large yellow rectangle was my basis to trade short, and I entered on the small yellow rectangle, my error was placing the trade before completion of the period end ie 4hrs, and sods law of course, the price moved up and generated another red Q box in the wrong direction for me!
Anyway, that's where I am on this trade at the moment and thought others might find it helpful to understand that not all trades go perfectly, even though most tend to only post winners!
This one may yet work out, but it's not looking too clever right now.
Cheers
LL
Here's an example of one of my trades on UC h4 that I'm currently involved in that is not doing so well at this point in time.
It fulfilled my criteria to take the trade on, but not every trade behaves the way we would like it to, and this one illustrates that point quite clearly, and I felt it was worth posting on that basis, just in case people think that all trades posted need to be winners straight off the bat, sometimes we need to be realistic, and allow the trade time, and if we happen to get stopped out, then so be it, this one may well get stopped out, but that is the reason we have our stops....to control our risk whilst giving the trade a chance.
The large yellow rectangle was my basis to trade short, and I entered on the small yellow rectangle, my error was placing the trade before completion of the period end ie 4hrs, and sods law of course, the price moved up and generated another red Q box in the wrong direction for me!
Anyway, that's where I am on this trade at the moment and thought others might find it helpful to understand that not all trades go perfectly, even though most tend to only post winners!
This one may yet work out, but it's not looking too clever right now.
Cheers
LL
- #1,978
- Sep 29, 2015 7:00am Sep 29, 2015 7:00am
- Joined Jul 2015 | Status: Trader | 2,762 Posts
Hi all Here's an example of one of my trades on UC h4 that I'm currently involved in that is not doing so well at this point in time. It fulfilled my criteria to take the trade on, but not every trade behaves the way we would like it to, and this one illustrates that point quite clearly, and I felt it was worth posting on that basis, just in case people think that all trades posted need to be winners straight off the bat, sometimes we need to be realistic, and allow the trade time, and if we happen to get stopped out, then so be it, this one may...
UCAD hr4 for now seat little bit below the weekly 161.8 fib extension and look great to short so I think it will be ok
Regards
Almo.
Dream, believe,fight for it and you will achieve and NEVER EVER GIVE UP!
- #1,979
- Sep 29, 2015 7:13am Sep 29, 2015 7:13am
- Joined Jul 2015 | Status: Trader | 2,762 Posts
I start to build shorts on EN
Dream, believe,fight for it and you will achieve and NEVER EVER GIVE UP!
- #1,980
- Sep 29, 2015 7:22am Sep 29, 2015 7:22am
- Joined Jul 2015 | Status: Trader | 2,762 Posts
Dream, believe,fight for it and you will achieve and NEVER EVER GIVE UP!