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MADdash (Moving Average Distance)

  • #1,281
  • Apr 6, 2016 4:32am Apr 6, 2016 4:32am
I get out of trade with profit when momentum runs wild. I always put in limit order when the currency in M5 row starts jumping queue and it is in same direction that
of M15. M1, M5 and M15 should be in same green color and at the top 2 of the queue for me to select it as strong currency nd bottom 2 to be considered as weak currency. MAD does this job for me. I calculate the speed of the momentum by tick speed indicator. Any will do. I also use channel indicator to get a visual picture of support and resistance levels for analysis. In short, MAD itself is a system for scalp trading.
Practice makes a person perfect
  • #1,282
  • Apr 6, 2016 8:30am Apr 6, 2016 8:30am
Quoting simnz
I get out of trade with profit when momentum runs wild. I always put in limit order when the currency in M5 row starts jumping queue and it is in same direction that of M15. M1, M5 and M15 should be in same green color and at the top 2 of the queue for me to select it as strong currency nd bottom 2 to be considered as weak currency. MAD does this job for me. I calculate the speed of the momentum by tick speed indicator. Any will do. I also use channel indicator to get a visual picture of support and resistance levels for analysis. In short, MAD...
Thank you for that idea
Would you be able to take snapshot of chart as it unfolds as explnation
Forex, awful to watch, AWESOME to play
  • #1,283
  • Apr 8, 2016 1:41am Apr 8, 2016 1:41am
Hi Guys , again and again well done......

One single question for the developers .... There are any way to get the Buy/Sell Signal into a EA that im developing?

Thanks and Good work
  • #1,284
  • Apr 8, 2016 1:03pm Apr 8, 2016 1:03pm
Interesting approach! Very nice thread. From the posts, it appears this is primarily for scalping. Has anyone been successful in using this on H4 or Daily TF? I have a J.O.B. that prevents me from constantly watching the screen.
  • #1,285
  • Apr 10, 2016 1:03am Apr 10, 2016 1:03am
Quoting PJSantos100
Hi Guys , again and again well done...... One single question for the developers .... There are any way to get the Buy/Sell Signal into a EA that im developing? Thanks and Good work
Hey PJSantos,

The dashboard has global variables that allows you to feed the signals into your EA - see post 197 and and the Dashboard Trading thread where some traders are using the signals.


Shalom

George
Low Risk Low Stress High Reward High Probability Trades
  • #1,286
  • Apr 10, 2016 10:25am Apr 10, 2016 10:25am
Quoting lctrader11
Interesting approach! Very nice thread. From the posts, it appears this is primarily for scalping. Has anyone been successful in using this on H4 or Daily TF? I have a J.O.B. that prevents me from constantly watching the screen.
Why do you have to watch. Just use mobile app to trade and also place limit TP orders. You do basket trading based on 5 m chart.
Practice makes a person perfect
  • #1,287
  • Apr 11, 2016 5:00am Apr 11, 2016 5:00am
Quoting 919gilead
{quote} Hey PJSantos, The dashboard has global variables that allows you to feed the signals into your EA - see post 197 and and the Dashboard Trading thread where some traders are using the signals. Shalom George

Thanks Mate .... Again good work
  • #1,288
  • Apr 11, 2016 5:09am Apr 11, 2016 5:09am
Quoting PJSantos100
{quote} Thanks Mate .... Again good work
You're welcome and if you don't mind shot me a PM on the EA. I may have one or two ideas but going for a snooze now as it is 3.09 am my time
Attached Image (click to enlarge)
Click to Enlarge Name: Trade Summary1 - 4112016.gif Size: 8 KB
Low Risk Low Stress High Reward High Probability Trades
  • #1,289
  • Apr 11, 2016 6:56am Apr 11, 2016 6:56am
Quoting 919gilead
{quote} You're welcome and if you don't mind shot me a PM on the EA. I may have one or two ideas but going for a snooze now as it is 3.09 am my time {image}

Sent... now im able to read the global variables but there aren't a variable for the Alerts :-(
  • #1,290
  • Apr 11, 2016 11:47am Apr 11, 2016 11:47am
Quoting PJSantos100
{quote} Sent... now im able to read the global variables but there aren't a variable for the Alerts :-(
Why don`t you ask @SvK88 and @Goldenequity how they did it
Low Risk Low Stress High Reward High Probability Trades
  • #1,291
  • Apr 12, 2016 11:46am Apr 12, 2016 11:46am
Quoting 919gilead
{quote} Why don`t you ask @SvK88 and @Goldenequity how they did it
Ill do it thanks
  • #1,292
  • Apr 15, 2016 10:04pm Apr 15, 2016 10:04pm
Quoting honestknave
Latest Version 1.31 click here ------------------------ Frequently Asked Questions click here ------------------------ What is MADdash? A multi timeframe dashboard looking at price's distance from a moving average. Where do I put the file? In the EXPERTS folder. It is a large dashboard designed to take over a chart. Latest version is an INDICATOR What is the background to MADdash? Back in April...
Being a discretionary trader, I am using your indicator for scalp trading without using any filters. When the currency pair enters 1 m and 5 m (minimum two lower frame time frames) I take chances on momentum increase (I haven't got any momentum indicator which can give any pointers to whether the momentum will increase or not) and enter into trades in lots. If I am wrong on the momentum speed I either get out or average out the entries. So far the results have been good but drawdown is inevitable.

For next update, please add one more interface like the one posted. Top two (or one) strong groups and top two (or one) weaker groups are transferred to a trading pad like this and showing percentage or pips and also showing ongoing changes (jumps) in the pair at the same time indicating live changes in the momentum of the paris.

Attached Image


Thank you and George for creating a simple system, which doesn't require any other indicators, and is really effective for a discretionary trader who doesn't have to grope in the dark and make too many guesses.

MAD allows me to enter into trading with my eyes wides open and without any fear. The only guess I make is on the momentum part. Since guess work (momentum forecasting) is involved, I have to use money management (position lots averaging) to control damage and greed caused by guess work. Manual system may be worked around it for scalping but I am not sure EA really can be coded for this kind of system for scalping.
Practice makes a person perfect
  • #1,293
  • Edited 4:34am Apr 17, 2016 4:13am | Edited 4:34am
Quoting Feo
{quote} Thank you for that idea Would you be able to take snapshot of chart as it unfolds as explnation
I run fx as a business and treat it as a highly lucrative and less risky business than many other businesses which are more riskier than fx trading.

I have trained myself to trade professionally by using self-help material and by trial and error during last 20 years.

The Three Ws + 1 H of currency trading
what to trade, why to trade, when to trade, and how to trade (trading tools, Money Management, etc)
What to trade:
Please check volatility from real-time data displayed on a couple of websites. Do some web search work and find yourself.
Why to trade:
My reason - GBPJPY and all GBP pairs will have a lot of volatility for its run-up to Brexit and sometime after it.
When to trade:
On days when the pair is volatile. If a day is full of economic events like April 14 (6 events of high volatility expectation) it is extremely ideal.

If you are under-capitalised stick to demo trading until you have gathered enough savings to undertake this high capital-intensive business.
Characteristics of Fx trading: 60% capital part, 25% emotional (psychological) management and 15% money management and trading system technique.

If you think you want to go for a lottery, and are willing to bear a loss which will not materially affect your finances, do try it.

How to trade:
My business plan template
I have set up the structure of my business as follows with Averaging and Drawdown plan as optional for those with deep pockets.

(a) The initial deposit (1 contract of GBPJPY needs $710.40 initial margin for 1:20 leverage pip value US$0.92) + maintenance margin of $736 ($0.92 x 800 pips) to cover two weeks ago weekly (HL) high drawdown of 800 pips.
Total investment required: $1446
Return targetted: 10 pc in a week. $145
Days volatility expected: 3 days in a week
In pips: 160 pips (each pip at 0.92)
Each volatile day: 80 pips or 4 trades each of 20 pips
Strategy: Scalping and day trading only .
Daytrading; Mostly sell for next two months from higher levels for day trading. Wait for the higher levels to build up.
If want to sell from higher levels let the pair gain at least 350-400 pips and then sell and take profit at 100 pips down.
Scalping: Take profit at 20-22 pips for every trade, Trading timeframe: 30 minutes to 1 hour
Risk Management:
No stoploss or prepare yourself for drawdown and averaging by selling from higher levels.
Averaging and Drawdown tactics: If trades go against me I start averaging and provide enough funds for 800 pips drawdown without getting bogged down for scalping trading continues.

Trading tactics and tools of the trade:
Use Moving Average distance to bank upon pullbacks, retracements etc . Simply use single-MA crossing the price.
MADistance is a good monitoring system to keep an eye on strong and weaker currencies group in real-time. You will also find equally good live heatmaps on currency strength from M1 to MN1 on websites. Use both of them to do your analysis for timing of momentum expansion/acceleration.
Focus on Group strength/weakness of JPY and GBP and then strike when it is hot for GBPJPY to yield pips. Just bank on momentum acceleration to get you pips.
Sell when all pairs of GBP are weak and JPY are strong in 1m,5m,15m,
Buy when all pairs of GBP are strong and JPY are weak in 1m, 5m, 15m.
Trading hours: do research and stick to Asian, Frankfurt and London trading hours. Real-time data available on several websites.
If residing in USA, just stick to US trading session.
If you trade well on a day full of economic events like April 14 (6 events of high volatility expectation) then 1 day alone can hit a week's target easily.
Practice makes a person perfect
  • #1,294
  • Apr 18, 2016 1:18am Apr 18, 2016 1:18am
Good Morning honestknave, Is Version 1.30 the latest version as it seems to of stopped working on my platform?
Last time that happened you updated the version as i know they run out?

Thanks

Al
  • #1,295
  • Apr 18, 2016 3:25am Apr 18, 2016 3:25am
Quoting Al.Barnfield
Good Morning honestknave, Is Version 1.30 the latest version as it seems to of stopped working on my platform? Last time that happened you updated the version as i know they run out? Thanks Al
Check post #1 for version 1.31 expiry july2016
It never gets easier, you just get better
  • #1,296
  • Apr 29, 2016 7:47am Apr 29, 2016 7:47am
HI 919gilead, DO YOU ALSO USE EA IN YOUR TRADING?
  • #1,297
  • May 3, 2016 9:11pm May 3, 2016 9:11pm
Quoting sniper4x
HI 919gilead, DO YOU ALSO USE EA IN YOUR TRADING?
Yes and no - yes on demo and no for my live account. And these are 2 live trades during this Asian session
Attached Image (click to enlarge)
Click to Enlarge Name: GJ Trade 2b - 5022016.gif Size: 60 KB

This is why I don't use the EA - this monster reversed almost the whole move but I exited before it took back my pips
Low Risk Low Stress High Reward High Probability Trades
  • #1,298
  • May 7, 2016 3:40am May 7, 2016 3:40am
Quoting simnz
{quote} I run fx as a business and treat it as a highly lucrative and less risky business than many other businesses which are more riskier than fx trading. I have trained myself to trade professionally by using self-help material and by trial and error during last 20 years. The Three Ws + 1 H of currency trading what to trade, why to trade, when to trade, and how to trade (trading tools, Money Management, etc) What to trade: Please check volatility from real-time data displayed on a couple of websites. Do some web search work and find yourself....
Hi, I think your money management is so risky. I respect your kind of trading tactics and I see so many professional trader that do not use stoploss and yet profitable. But my question is. What if the price does not came back anymore from your entry? What do you do? What is your exit plan?
  • #1,299
  • May 8, 2016 1:55am May 8, 2016 1:55am
You don't have to follow my money management. Like any other business, fx trading is also risky and there are all kind of traders taking risks of different sizes.

The idea is to expose FF members of an instance of how a real trader uses money management in averaging drawdown instead of executing stop loss.

Since I have a clear bias for short-term or medium-term trend I used a different trading approach.

I made 40% on my margin money in 10 days (April 27 to May 6 ) when I was convinced that Bloomberg story was planted by market makers about BOJ giving loans on negative lending rates when Japan hardly had any experience about the efficacy of negative deposit interest rates. The 10-day roller coaster ride took me into a 900 pips drawdown and at the end of the day I made 400 pips of profit a week later because of averaging strategy.

I made rest of money later by pyramiding by selling into positions gaining frequently until US payrolls data news.
Practice makes a person perfect
  • #1,300
  • May 8, 2016 2:34am May 8, 2016 2:34am
Quoting simnz
You don't have to follow my money management. Like any other business, fx trading is also risky and there are all kind of traders taking risks of different sizes. The idea is to expose FF members of an instance of how a real trader uses money management in averaging drawdown instead of executing stop loss. Since I have a clear bias for short-term or medium-term trend I used a different trading approach. I made 40% on my margin money in 10 days (April 27 to May 6 ) when I was convinced that Bloomberg story was planted by market makers about BOJ giving...
So you have some good analyzing in such a fundamental . So you are so confident to hold a losing trade like a negative 900 pips because you know it will come back to your entry price sooner or later. Nice strategy bro.
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