Gentlemen always play by the rules, if they can't, they change them.
Daytrading/scalping with high leverage - my proven strategy
- Linked: 1 Lot - 1.000 $ | Brokerage Account XXX82
|
|
This Trade Explorer is no longer publicly available.
- #8,503
- Edited 9:18am Dec 15, 2016 9:06am | Edited 9:18am
- Joined Mar 2013 | Status: High Risk High Gain Master | 299 Posts
Hello Babon Folks, 
Just because I've got some PM's from people asking about trading "TMA M1 beyond Ichimoku Cloud" Pattern, just a quick summarized information with some of my own explanation and uderstanding this pattern [i will mark my own comments - the red ones in brackets]
16. Pattern "TMA M1 beyond the Ichimoku cloud"
See Pictures 13 and 14:
Attached Image
http://www.forexfactory.com/attachme...1&d=1367195242
Attached Image
http://www.forexfactory.com/attachme...1&d=1367195284
It is a very important and a very profitable pattern!
When the whole TMA M1 channel (both the upper border and the lower border) goes under the Ichimoku cloud and the channel is NOT horizontal, then we can expect a very good and profitable short trade.
And, of course, when the whole TMA M1 channel (both the upper border and the lower border) goes above the Ichimoku cloud and the channel is NOT horizontal, then we can expect a very good and profitable long trade.
A good thing about this pattern is that even when we see only the TMA M1 center line crosses the cloud we already anticipate the pattern formation and can get ready, checking M1 Price Action and H1's "big picture".
[This is probably the most important part of trading this pattern. The moment, when you realize that this pattern is going to happen and you're getting ready to trade it]
We can trade this pattern independently, we don't have to follow the Classic Babon Rules.
To enter with this pattern we want to see three things:
a). The right H1 "big picture"
b). A good TMA M1 angle
[For a short trade it should be going down and for a long trade it should be going up. But my own experience trading this pattern says that if the angle is too big, we can expect a fast pullback. And by "too big" i mean when TMA is going almost upright for a long trade and going strong vertically downwards for a short trade. I'm not saying that you cannot enter these situations - just pay a lot of attention to Price Action and wait for the best moment]
c). A good M1 Price Action
[Many people make a mistake and enter a trade just when the pattern appear. They just do not care about M1 Price Action!
My own experience tells that it is almost always better to wait for a pullback and then pull a trigger to take a trade. We need to remember that we want to trade under best conditions and with smallest possible drawdown]
And we can enter not only if we see a Babon Slope signal, but also independently, based on M1 Price Action only.
[That's exactly the way I'm trading it - i DO NOT trade Babon slope, just pure Price Action. I found that trading this pattern according to Babon Slope is less effective]
I enter when I see a good M1 Price Action pattern, and for this kind of trading it could be not only higher low - lower high, but any good M1 Price action pattern, for example a breakout.
[Personally i do not trade breakouts - There were too many false breakouts especially on M1 charts - it is always better to trade a retest or correction move (pullback from main M1 trend) - Maybe you can miss some trades, when breakout worked correctly, but it is better to avoid entering the market at worse price or even on the top/bottom of the move (it causes a bigger drawdown which leads to Stop Loss!)]
If we see a good signal but the signal candle is 10 pips or more, then we wouldn't enter, we wait a little bit and watch the price action before we enter.
It is because my experience says: on M1 after a long (10+ pips) candle we usually have a pullback, so we don't want to enter under the worst conditions, we want to wait and decrease the possible drawdown.
[The same situation - we want to enter after the pullback!]
SL, TP and exit - exactly as in Classic Babon.
-----------------------
http://www.forexfactory.com/showthre...84#post6551084
As Favorite said:
We can use this pattern three ways:
1). When the lower band is already under the cloud and the upper band has a good angle we anticipate that's gonna be this pattern and it's gonna be a good trade. For example at my picture when I was entering (marked the green arrow) I already saw it's gonna be this pattern, so even if I had any doubts, I would enter.
[Pay a lot of attention to the angle of TMA and Price Action - if they started going in the direction of our M1 trend and you can see that it is just a matter of time when it goes beyond Ichimoku Cloud - you're anticipating this pattern]
2). If we 're lucky enough to enter before the pattern has been formed or at the moment the pattern has been formed, then we, as you said, know, that the profit would be more than usual, if under normal circumstances we would exit at the black line, with the pattern we would wait until yellow line or even until the red line.
[As you can read above - you do not always have to wait for the whole pattern appearance! If Price Action is good and you anticipate this pattern - even if it is not finished - you can entry! PLEASE REMEMBER THAT BABON SYSTEM IS A PURE PRICE ACTION SYSTEM AND ALL THE INDICATORS JUST HAVE TO VISUALIZE PRICE ACTION BETTER. If you have a good M1 Price Action (trend) and a TMA started tilting in your direction and started goind beyond Ichimoku Cloud, so it started supporting your decision - just take a trade and watch the whole situation. It helps you catching bigger moves, because you enter with better price. But it needs some experience watching TMA1, Ichimoku Cloud and Price Action. Just get some practice and you will be taking these kind of trades!]
3). If we see that after we exited the pattern is still intact (it still has a good angle etc.) we can re-enter at the next Babon signal for a quick profit, maybe even more than once.
[I do not like re-entries, no matter what system i trade, but if you decide to trade them - i recall once again - it is better to trade pure Price Action than entering on Babon's Slope change. One of the method could be entering long re-entry at the lower band of TMA and entering short re-entry at the upper band of TMA.]
Hope it helped just a little bit more understand the idea behind "TMA M1 Beyond Ichimoku Cloud" Pattern
Remember it is just my view as I'm not and author of this system
Regards, Michael
Just because I've got some PM's from people asking about trading "TMA M1 beyond Ichimoku Cloud" Pattern, just a quick summarized information with some of my own explanation and uderstanding this pattern [i will mark my own comments - the red ones in brackets]
BABON FINAL VERSION - PART 2 14.
See Pictures 13 and 14:
Attached Image
http://www.forexfactory.com/attachme...1&d=1367195242
Attached Image
http://www.forexfactory.com/attachme...1&d=1367195284
It is a very important and a very profitable pattern!
When the whole TMA M1 channel (both the upper border and the lower border) goes under the Ichimoku cloud and the channel is NOT horizontal, then we can expect a very good and profitable short trade.
And, of course, when the whole TMA M1 channel (both the upper border and the lower border) goes above the Ichimoku cloud and the channel is NOT horizontal, then we can expect a very good and profitable long trade.
A good thing about this pattern is that even when we see only the TMA M1 center line crosses the cloud we already anticipate the pattern formation and can get ready, checking M1 Price Action and H1's "big picture".
[This is probably the most important part of trading this pattern. The moment, when you realize that this pattern is going to happen and you're getting ready to trade it]
We can trade this pattern independently, we don't have to follow the Classic Babon Rules.
To enter with this pattern we want to see three things:
a). The right H1 "big picture"
b). A good TMA M1 angle
[For a short trade it should be going down and for a long trade it should be going up. But my own experience trading this pattern says that if the angle is too big, we can expect a fast pullback. And by "too big" i mean when TMA is going almost upright for a long trade and going strong vertically downwards for a short trade. I'm not saying that you cannot enter these situations - just pay a lot of attention to Price Action and wait for the best moment]
c). A good M1 Price Action
[Many people make a mistake and enter a trade just when the pattern appear. They just do not care about M1 Price Action!
My own experience tells that it is almost always better to wait for a pullback and then pull a trigger to take a trade. We need to remember that we want to trade under best conditions and with smallest possible drawdown]
And we can enter not only if we see a Babon Slope signal, but also independently, based on M1 Price Action only.
[That's exactly the way I'm trading it - i DO NOT trade Babon slope, just pure Price Action. I found that trading this pattern according to Babon Slope is less effective]
I enter when I see a good M1 Price Action pattern, and for this kind of trading it could be not only higher low - lower high, but any good M1 Price action pattern, for example a breakout.
[Personally i do not trade breakouts - There were too many false breakouts especially on M1 charts - it is always better to trade a retest or correction move (pullback from main M1 trend) - Maybe you can miss some trades, when breakout worked correctly, but it is better to avoid entering the market at worse price or even on the top/bottom of the move (it causes a bigger drawdown which leads to Stop Loss!)]
If we see a good signal but the signal candle is 10 pips or more, then we wouldn't enter, we wait a little bit and watch the price action before we enter.
It is because my experience says: on M1 after a long (10+ pips) candle we usually have a pullback, so we don't want to enter under the worst conditions, we want to wait and decrease the possible drawdown.
[The same situation - we want to enter after the pullback!]
SL, TP and exit - exactly as in Classic Babon.
-----------------------
http://www.forexfactory.com/showthre...84#post6551084
As Favorite said:
We can use this pattern three ways:
1). When the lower band is already under the cloud and the upper band has a good angle we anticipate that's gonna be this pattern and it's gonna be a good trade. For example at my picture when I was entering (marked the green arrow) I already saw it's gonna be this pattern, so even if I had any doubts, I would enter.
[Pay a lot of attention to the angle of TMA and Price Action - if they started going in the direction of our M1 trend and you can see that it is just a matter of time when it goes beyond Ichimoku Cloud - you're anticipating this pattern]
2). If we 're lucky enough to enter before the pattern has been formed or at the moment the pattern has been formed, then we, as you said, know, that the profit would be more than usual, if under normal circumstances we would exit at the black line, with the pattern we would wait until yellow line or even until the red line.
[As you can read above - you do not always have to wait for the whole pattern appearance! If Price Action is good and you anticipate this pattern - even if it is not finished - you can entry! PLEASE REMEMBER THAT BABON SYSTEM IS A PURE PRICE ACTION SYSTEM AND ALL THE INDICATORS JUST HAVE TO VISUALIZE PRICE ACTION BETTER. If you have a good M1 Price Action (trend) and a TMA started tilting in your direction and started goind beyond Ichimoku Cloud, so it started supporting your decision - just take a trade and watch the whole situation. It helps you catching bigger moves, because you enter with better price. But it needs some experience watching TMA1, Ichimoku Cloud and Price Action. Just get some practice and you will be taking these kind of trades!]
3). If we see that after we exited the pattern is still intact (it still has a good angle etc.) we can re-enter at the next Babon signal for a quick profit, maybe even more than once.
[I do not like re-entries, no matter what system i trade, but if you decide to trade them - i recall once again - it is better to trade pure Price Action than entering on Babon's Slope change. One of the method could be entering long re-entry at the lower band of TMA and entering short re-entry at the upper band of TMA.]
Hope it helped just a little bit more understand the idea behind "TMA M1 Beyond Ichimoku Cloud" Pattern
Remember it is just my view as I'm not and author of this system
Regards, Michael
Aggressive, High Risk, High Gain, High Accuracy
- #8,505
- Edited 10:38am Dec 16, 2016 9:43am | Edited 10:38am
Trade from yesterday - 15/12
GBP/USD +10.4 pips
After I exited it ran for another 40 pips or so. I exited just before TMA1 went below the Ichimoku so that was a bit of a mistake as could have held longer but i have learned never to complain about a positive trade. I am sure as I gain more confidence in the method I will be able to let the trades run for longer.
M1
H1
GBP/USD +10.4 pips
After I exited it ran for another 40 pips or so. I exited just before TMA1 went below the Ichimoku so that was a bit of a mistake as could have held longer but i have learned never to complain about a positive trade. I am sure as I gain more confidence in the method I will be able to let the trades run for longer.
M1
H1
- #8,506
- Dec 16, 2016 9:45am Dec 16, 2016 9:45am
Today - 16/12
EUR/JPY loss -10 pips
M1
H1 - I know H1 is not really looking good but as the level held previously i thought it would push down for a bit, specially after a rather bearish candle that showed some rejection
EUR/JPY loss -10 pips
M1
H1 - I know H1 is not really looking good but as the level held previously i thought it would push down for a bit, specially after a rather bearish candle that showed some rejection
- #8,508
- Dec 18, 2016 7:02pm Dec 18, 2016 7:02pm
- Joined Mar 2013 | Status: High Risk High Gain Master | 299 Posts
I have started testing this method and so far I am really enjoying trading it. Still making some mistakes but i am pretty sure i will be up to speed in no time. I will post some of my trades here and would welcome comments from more experienced Babon traders. On some of the trades i apply non-repainting TMA bands to the chart to show how the bands looked like when the trades happened. When I am trading I using the normal TMA but when looking at the past I use the non repainting version. Also use the non repainting version for H1 and H4 at all times....
Glad you enjoy your Babon trading
I'm also thinking about starting posting my trades here, but this probably will happen in New Year 2017, because I'm a little ill now and even if i got better, there would be Christmas Time, so probably i won't take any trades before January.
Trade from yesterday - 15/12 GBP/USD +10.4 pips After I exited it ran for another 40 pips or so. I exited just before TMA1 went below the Ichimoku so that was a bit of a mistake as could have held longer but i have learned never to complain about a positive trade. I am sure as I gain more confidence in the method I will be able to let the trades run for longer. M1 {image} H1 {image}
Today - 16/12 EUR/JPY loss -10 pips M1 {image} H1 - I know H1 is not really looking good but as the level held previously i thought it would push down for a bit, specially after a rather bearish candle that showed some rejection {image}
Today 16/12 GBP/USD Win +14.5 pips M1 - exited on TMA1 + upwards trend line i had drawn {image} H1 {image}
There is a rule that "winners aren't judged" - like they say
But real trader should always judge his trades! Be carefull in taking these kind of trades, especially when the main trend is strong in opposite direction.History and experience shows that almost 95% of Babon trader failed because of taking trades in ranging market. And it is always extremely risky to trade in ranging market using trend following system.
And the second thing is that if you decided to take this trade, you should've exited earlier on TMA M1 band. If we have a strongly ranging market, we should always assume that trend is so so and exit at the first of our TP points (place i marked with red circle), even if your trade went almost to the yellow TMA.
P.S. You marked your trade as a GBPUSD but it is GBPJPY, just "typo"
Regards, Michael
Aggressive, High Risk, High Gain, High Accuracy
- #8,510
- Dec 19, 2016 9:33am Dec 19, 2016 9:33am
Today there was some great movements on G/JPY and G/U but i was focused on USD/JPY just watching candle by candle PA and learning from it.
Here are the 2 trades I took, 2 quick scalps for 7 pips each. On both I could have stayed a bit longer and have made a lot more pips but as we are approaching Xmas i didn't want to count on great moves as a lot of traders are already on break this week. On the start of new year my focus will be on better exits, today for example I could have waited for the PA to show signs of weakness rather than just exiting on the first support area but all in all I am happy. I had tight stops so got 1:1 on both trades.
USD/JPY 7.1 pips
USD/JPY 7 pips
H1 picture
Here are the 2 trades I took, 2 quick scalps for 7 pips each. On both I could have stayed a bit longer and have made a lot more pips but as we are approaching Xmas i didn't want to count on great moves as a lot of traders are already on break this week. On the start of new year my focus will be on better exits, today for example I could have waited for the PA to show signs of weakness rather than just exiting on the first support area but all in all I am happy. I had tight stops so got 1:1 on both trades.
USD/JPY 7.1 pips
USD/JPY 7 pips
H1 picture
- #8,513
- Dec 28, 2016 5:29am Dec 28, 2016 5:29am
- Joined Mar 2013 | Status: High Risk High Gain Master | 299 Posts
Hello maflip,
Well, there will always be people that will try to steal somebody's hard work. But, to be honest, I do not think it will ever work, not only because TMA repaints, but as it was mentioned hundred of times - it is price action system. I think it is impossible to write an EA based on Babon, that will make money.
Personally I know only the ones, that was posted on this thread and the one from SH thread. I do not use any of them.
V.2
http://www.forexfactory.com/showthre...55#post6576555
V2a V2.b
http://www.forexfactory.com/showthre...19#post6577019
V3.1
http://www.forexfactory.com/showthre...05#post6618205
V3.2
http://www.forexfactory.com/showthre...54#post6618954
It is impossible without mq4 file with code. Or to be honest probably it is possible, but no coder will do this.
And, If you want to start from scrach, you need to find a coder that will do this
Regards, Michael
Unbelievable... Someone made an EA of this strategy and selling it for $200. No I'm not posting the link here but it just sucks when someone is trying to make money out of a free system from FF.
Anyway, the reason why I found that EA is I am looking for a TMA Dashboard that will alert me when both TMA bands are above/below the cloud. I saw one at SHF but it does not have an alert just a dashboard. It's only good for showing pair with good momentum it's not to be used as a trading system. Know of any TMA Dashboard out there when it goes above/below ichimoku?
V.2
http://www.forexfactory.com/showthre...55#post6576555
V2a V2.b
http://www.forexfactory.com/showthre...19#post6577019
V3.1
http://www.forexfactory.com/showthre...05#post6618205
V3.2
http://www.forexfactory.com/showthre...54#post6618954
I'm going to attach the indicator here but it does not have the source code. Anyone can reproduce it from scratch and add an alert to it?
And, If you want to start from scrach, you need to find a coder that will do this
Regards, Michael
Aggressive, High Risk, High Gain, High Accuracy
- #8,514
- Dec 28, 2016 5:39am Dec 28, 2016 5:39am
- Joined Mar 2013 | Status: Trader | 6,512 Posts
Quoting Pretorian
"It is impossible without mq4 file with code. Or to be honest probably it is possible, but no coder will do this.
And, If you want to start from scrach, you need to find a coder that will do this
Regards, Michael"
hah hah thanks bro. I contacted a website to try and create this alert indicator for me. I am asking for a quote. I wonder how much they will charge.
I agree with the EA. I think it's not profitable rule by rule without price action confirmation. He is selling it for $200 because it's not making money. But this TMA pattern is profitable if you know what you are doing.
"It is impossible without mq4 file with code. Or to be honest probably it is possible, but no coder will do this.
And, If you want to start from scrach, you need to find a coder that will do this
Regards, Michael
"hah hah thanks bro. I contacted a website to try and create this alert indicator for me. I am asking for a quote. I wonder how much they will charge.
I agree with the EA. I think it's not profitable rule by rule without price action confirmation. He is selling it for $200 because it's not making money. But this TMA pattern is profitable if you know what you are doing.
- #8,515
- Dec 28, 2016 5:42am Dec 28, 2016 5:42am
- Joined Mar 2013 | Status: Trader | 6,512 Posts
Two trades today. I can't believe I made a trade since it's holiday. But, I can see we got momentum so what the heck. I took it and 2 winners. I should have made more but it's a scalp. 
- #8,516
- Dec 28, 2016 6:04am Dec 28, 2016 6:04am
- Joined Mar 2013 | Status: Trader | 6,512 Posts
Will AJ follow UJ to the light side? 
Who knows. But no entry on the M5 to go long yet... Just saying...
Who knows. But no entry on the M5 to go long yet... Just saying... 
- #8,517
- Edited 8:49am Dec 28, 2016 8:35am | Edited 8:49am
- Joined Jan 2010 | Status: Trader | 1,448 Posts
Unbelievable... Someone made an EA of this strategy and selling it for $200. No I'm not posting the link here but it just sucks when someone is trying to make money out of a free system from FF. Anyway, the reason why I found that EA is I am looking for a TMA Dashboard that will alert me when both TMA bands are above/below the cloud. I saw one at SHF but it does not have an alert just a dashboard. It's only good for showing pair with good momentum it's not to be used as a trading system. Know of any TMA Dashboard out there when it goes above/below...
You need to remove the pair from the alert list in order to stop it.....or mute your computer until u can deal with it.And yes.....i decompiled the .ex4. I tried to contact the author to do it himself and/or to get permission but I never received any response.
I will not give out the decompiled code, but will share the alert in .ex4 form unless it ruffles feathers.
- #8,518
- Dec 28, 2016 8:42am Dec 28, 2016 8:42am
- Joined Jan 2010 | Status: Trader | 1,448 Posts
Quoting Pretorian "It is impossible without mq4 file with code. Or to be honest probably it is possible, but no coder will do this. And, If you want to start from scrach, you need to find a coder that will do this Regards, Michael
