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28PAIRS Currency Strength Trading SYSTEM. TRADES and Questions

  • #901
  • Nov 20, 2016 3:49am Nov 20, 2016 3:49am
Quoting 4xtrader2003
USDCAD BUY = 90+ Pips {image}
4xtrader, i would like to see your actual trading. Its easy to point the entry and how many pips it run after the chart history. The difficult part is when to enter and exit.
  • #902
  • Nov 21, 2016 10:38am Nov 21, 2016 10:38am
Quoting plutifax
Hi Bernhard, Of course I do not want to put any pressure on Menko. He has gratuitously offered to share his trades in the next week, and I hope to learn form that. I have read the strategy thread, and i am also familiar with the different ways of setting SL and TP. I tend to use at trailing ATR based stop, which lets me stay in until the direction changes significantly, but your indicator give other opportunities to detect changes in direction. My interest is not so much to how but more to why. As an example I would be interested in learning why...

Hello Plutifax,

I promised you some charts, and I am a bit reserved to share them, because they probably will raise more questions.

You must understand that my entries and exits are not based on Bernhard's indicator alone. In fact, I use it mainly as a extra confirmation that my trade is probably going in the right direction, and if it may be time to exit.
My entries are based on price action, location and context, I look at supply and demand zones, also at higher timeframes and the overall picture of the chart.
I like to see price react to these supply and demand zones, a entry in the middle of nowhere makes no sense to me. A nice engulfing pattern at supply could be a nice signal to go short, especially if the strength indicator is in favour of that entry.

My exits work in the same way, when I close a trade before hitting my target, it will be a combination of price being in the opposing supply or demand zones and the strength indicator. But I always look for a take profit at logical areas, so around opposing S&D zones, high's and low's or support and resistance, and if there is any profit margin.

So it is hard to say one thing that stands out when entering or exiting a trade, I am not highly experienced, but I had my portion of screen time and education, and mistakes. It is a combination of this, and the trust you have in your setup that makes it work.
Accept loses, that's part of the job, forget about learning from mistakes, learn from your good trades, most of the time trades that do not have the expected outcome get the label 'bad' or 'mistake' but that is not always the case.

May be you can share some of your trades, so other traders can explain what they see in you entries or exits, and your view. I can only advise you to concentrate on the rules Bernhard laid out in this thread, and do not overthink it.

My apologies for this answer, it probably is not what you expected, but I do not want to give you an overload of information that has to sink in.

-Menko
  • #903
  • Nov 22, 2016 1:55am Nov 22, 2016 1:55am
THX Menko,


Unfortunately I am at the hospital at the moment, and the internet connection is bad, so no trading at the moment. I will have to learn form others until i get out.

I have a lot of time to be thinking however, and I have realized, that the Forex market due to the fact that i is not centralized and to 80% utilitarian, is much less prone to manipulation by the market makers than e.g the stock market. Provided of course that you are using STP/ECN.
That of makes a lot of the classical technical analysis unusable.
It is here that the single currency approach has its strength, because the factors that it measures can not be manipulated. The downside is that the data are from a single liquidity provider, but if it is the same provider which you are using for trading, it should be ok.

It is also obvious, that due to the utilitarian nature, a lot of the patterns, which many people use, have no bearing on the future, because they are applied to pairs.
  • #904
  • Nov 22, 2016 12:02pm Nov 22, 2016 12:02pm
We can do a summery. What are the rules I have already been posted and demonstrated with so many pictures? Read both threads multiple times until you know it like a bible and practice.

  1. Market Momentum
  2. Minimum angle of GAP
  3. How to filter with outer MFibs.
  4. Reversal setups with hook from outer MFibs (Pullback entries)
  5. Confirm with speed/acceleration
  6. Be within higher TF trend and GAP
  7. Price action highs and lows
  8. Higher TF supply/demand
  9. Not trade against S/R
  10. SL behind logical levels
  11. TP before logical levels
  12. Possible exit rules
  13. Risk/reward ratio 1 or better
  14. Trailing SL with logical new levels of LH HL
  15. Timing (open and news and day time)
  16. Correct lot size, risk max 1% account per trade or less if there are other trades on the same currency (GBPUSD & GBPJPY)
  17. Learn how to trade and work on your psychology.
  18. and practice practice practice...

Wish you all many green PIPs

Scan all 28 Forex pairs with ONE chart... Currency Strength28 Indicators
  • #905
  • Nov 22, 2016 12:22pm Nov 22, 2016 12:22pm
Quoting Bernhard
We can do a summery. What are the rules I have already been posted and demonstrated with so many pictures? Read both threads multiple times until you know it like a bible and practice. Market Momentum Minimum angle of GAP How to filter with outer MFibs. Reversal setups with hook from outer MFibs (Pullback entries) Confirm with speed/acceleration Be within higher TF trend and GAP Price action highs and lows Higher TF supply/demand Not trade against S/R SL behind logical levels TP before logical levels Possible exit rules Risk/reward ratio 1 or better...
Hi there,
My configurations is ok?
Thx
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  • #906
  • Nov 22, 2016 1:40pm Nov 22, 2016 1:40pm
Quoting ivanantonio
{quote} Hi there, My configurations is ok? Thx {image}
If it is my template than you should modify the higher TF in the middle window. For H4 chart set the higher TF to daily.
Scan all 28 Forex pairs with ONE chart... Currency Strength28 Indicators
  • #907
  • Nov 22, 2016 3:09pm Nov 22, 2016 3:09pm
Quoting Bernhard
{quote} If it is my template than you should modify the higher TF in the middle window. For H4 chart set the higher TF to daily.
Like this:
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  • #908
  • Nov 22, 2016 5:40pm Nov 22, 2016 5:40pm
Quoting 4xtrader2003
RisingSun, 100% of my trades take place at the open of the candle/bar after the previous candle/bar that has travelled 100% of the distance from the ZERO Fib Line to the 23 FIB line in the CStrength Indicator, then I pair it, with the currency that has the steepest angle in the opposite direction and this produces positive results about 95% of the time. forextrader2003
hi forextrader2003, may I know what TF are you using for this ?
  • #909
  • Nov 23, 2016 2:26am Nov 23, 2016 2:26am
Quoting ivanantonio
{quote} Like this: {image}
Yes so it is good. A very nice example by the way. We have a clear daily trend and a H4 dGAP. Many pips over 2 days.
Scan all 28 Forex pairs with ONE chart... Currency Strength28 Indicators
  • #910
  • Nov 23, 2016 4:03pm Nov 23, 2016 4:03pm
Great day for the GBPJPY (BUY) a possible 275+ Pips
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  • #911
  • Nov 24, 2016 4:00am Nov 24, 2016 4:00am
I have been revisiting the Lightheart video section in the system thread.

In video 5 he uses a movable rectangle on the strength indicator.

I have tried to generate this rectangle myself, but I have had no luck despite trying for hours.
Maybe I am too dim, or maybe it is the painkillers that the give me after my operation.

Can anybody help me?

i will be greatly appreciated. It is extremely boring having to lie here for days just looking at the ceiling.
  • #912
  • Edited 11:45pm Nov 24, 2016 7:48am | Edited 11:45pm
Quoting plutifax
I have been revisiting the Lightheart video section in the system thread. In video 5 he uses a movable rectangle on the strength indicator. I have tried to generate this rectangle myself, but I have had no luck despite trying for hours. Maybe I am too dim, or maybe it is the painkillers that the give me after my operation. Can anybody help me? i will be greatly appreciated. It is extremely boring having to lie here for days just looking at the ceiling.
We had no speed indicator at the time when lightheard made the video with the rectangles. Basics: (post 23)
Now you can get alert for it with Currency_Strenght28_SPEED.
Change sensitivity to slow and trigger to 23. Let it run on the TF you want the alert.
Scan all 28 Forex pairs with ONE chart... Currency Strength28 Indicators
  • #913
  • Nov 25, 2016 1:21am Nov 25, 2016 1:21am
Hi,

I get + 27 pips for short UJ on M1 . Great indicator.


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  • #914
  • Edited 4:35am Nov 25, 2016 4:17am | Edited 4:35am
GBPJPY long 70+ pips
Double iGAP
M15 and M5 were showing hooks on both currencies at MFib +161 and -161
M1 was showing divergences on both currencies
(entry and exit not shown as I trade on another platform)

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  • #915
  • Nov 25, 2016 7:36am Nov 25, 2016 7:36am
Bernhard,
I do appreciate the advantage of the Speed indicator, but with 3 times Strength and a pair running in one window on a tablet it starts to be very crammed.
I use to run the Speed in the background to get the alerts but without a mouse, it is rather bothersome to be switching back and forth. Moving a rectangle when the alert comes would be easier. Of course i can get a much better set-up when i am back at my computer with two monitors.
  • #916
  • Nov 25, 2016 8:10am Nov 25, 2016 8:10am
Quoting plutifax
Bernhard, I do appreciate the advantage of the Speed indicator, but with 3 times Strength and a pair running in one window on a tablet it starts to be very crammed. I use to run the Speed in the background to get the alerts but without a mouse, it is rather bothersome to be switching back and forth. Moving a rectangle when the alert comes would be easier. Of course i can get a much better set-up when i am back at my computer with two monitors.
Of course you do not want to do this stuff on a tablet or iPhone !
Scan all 28 Forex pairs with ONE chart... Currency Strength28 Indicators
  • #917
  • Nov 25, 2016 10:35am Nov 25, 2016 10:35am
Quoting dhrv
GBPJPY long 70+ pips Double iGAP M15 and M5 were showing hooks on both currencies at MFib +161 and -161 M1 was showing divergences on both currencies (entry and exit not shown as I trade on another platform) {image}
Nice reversals and divergences.
Thank you for posting
Scan all 28 Forex pairs with ONE chart... Currency Strength28 Indicators
  • #918
  • Nov 25, 2016 2:07pm Nov 25, 2016 2:07pm
similar to the setup this morning, just in the opposite direction and not as clean, but still tradeable:
GBPJPY short 25 pips
Double iGAP
In M15, both currencies not anywhere near a reversal zone, but still both showed a reversal
In M5, GBP was showing weakness and JPY strength (again with divengences), hooks at MFib +161 and -100
M1 was not very clean (look at JPY fluctuate), but GBP continuously falling, so I risked it...

Edit: haha and just as I posted this, the pair reversed back 40 pips in 10 minutes, so maybe after all this trade was to risky, or at least the signals were too poor to let it run longer

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  • #919
  • Nov 26, 2016 1:23am Nov 26, 2016 1:23am
That's why reversal is more dependable from 1hr tf. Very often, a little retramement of trend will be seen as reversal 5, 15 min chart.
Know News/time; WAIT for Edge Entries, MPLC Normalization, Exits & TP's..
  • #920
  • Nov 26, 2016 4:17am Nov 26, 2016 4:17am
Quoting dhrv
similar to the setup this morning, just in the opposite direction and not as clean, but still tradeable: GBPJPY short 25 pips Double iGAP In M15, both currencies not anywhere near a reversal zone, but still both showed a reversal In M5, GBP was showing weakness and JPY strength (again with divengences), hooks at MFib +161 and -100 M1 was not very clean (look at JPY fluctuate), but GBP continuously falling, so I risked it... Edit: haha and just as I posted this, the pair reversed back 40 pips in 10 minutes, so maybe after all this trade was to risky,...
25 pip is more than enough for a m1 m5 m15 setup.
You draw your divergence wrong.
Always lower with lower or upper with upper line. (Except we read quote currency)
Attached Image
Scan all 28 Forex pairs with ONE chart... Currency Strength28 Indicators
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