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Random Walk (The unbeatable!)

  • #241
  • Apr 12, 2017 10:06am Apr 12, 2017 10:06am
Quoting kprsa
{quote} The pivot indicator for TF=5 min does exactly that. Are you referring to the calculation for other TFs? k

Hi kprsa,

Yes exactly, I am talking about the calculation of other levels for the daily time frame only, so we can see the past on daily bars. Thanks for your prompt reply..

Please advise..

Good luck...
  • #242
  • Apr 12, 2017 10:11am Apr 12, 2017 10:11am
Quoting GoldTheHun
{quote} Hi kprsa, Yes exactly, I am talking about the calculation of other levels for the daily time frame only, so we can see the past on daily bars. Thanks for your prompt answer.. Please advise.. Good luck...
I think I see what you mean:
identify the first TF=5 min candle of the day for current bar (regardless of its TF) and calculate levels.
I should be able to do that.
k
  • #243
  • Apr 12, 2017 10:11am Apr 12, 2017 10:11am
Quoting GoldTheHun
{quote} Hi rolan, Thank you for sharing your trade. It looks like very good entry. Your trend assessment was perfect.. But my personal taste would be to enter at the first red bar. But you made a profit, that is a success.. Congrats. There is no clear cut rules here, as long as you don't enter short below or at 23 and enter long above or at 78. The market could be matured for the day at those levels, and you wouldn't have enough room left for your profit target. Good Luck...

Thank you for your comment GoldTheHunt.

I got your point now. Thanks again.
Game of Probabilities.
  • #244
  • Apr 12, 2017 10:13am Apr 12, 2017 10:13am
Quoting kprsa
{quote} I think I see what you mean: identify the first TF=5 min candle of the day for current bar (regardless of its TF) and calculate levels. I should be able to do that. k
Exactly kprsa... I couldn't explain it very clearly but you got it... Thank you...

Good Luck...
  • #245
  • Apr 12, 2017 10:34am Apr 12, 2017 10:34am
Quoting rolan49
{quote} Thank you for your comment GoldTheHunt. I got your point now. Thanks again.
You're always welcomed roland.

The reason I don't look for a breakout is that, the moment you realize it is a breakout you are late, and your SL has to widen, and it could also be a fakeout.. So I prefer to anticipate the price before it happens using the levels and trying to sense small weaknesses.. If I am wrong I lose little, but if I am right, I gain much more than my risk...
Everybody has a way of trading which makes them to stay in their comfort zone.. This is mine...

Good Luck and thanks for sharing your charts...
  • #246
  • Apr 12, 2017 12:59pm Apr 12, 2017 12:59pm
Quoting GoldTheHun
{quote} Exactly kprsa... I couldn't explain it very clearly but you got it... Thank you... Good Luck...
This should do the trick. Also added the Zscore=1.28 level.

Attached File(s)
File Type: mq4 pivot_goldthehun_v3.mq4   3 KB | 772 downloads


Cheers,
k
  • #247
  • Apr 12, 2017 1:03pm Apr 12, 2017 1:03pm
Also the new version of channel from post #186.
k
Attached File(s)
File Type: mq4 channel_goldthehun_v3.mq4   2 KB | 1,127 downloads
  • #248
  • Apr 12, 2017 1:04pm Apr 12, 2017 1:04pm
Quoting kprsa
{quote} This should do the trick. Also added the Zscore=1.28 level. {file} Cheers, k

Thanks so much k,

It was lightening fast. I will put it on daily chart and let you know the look..

Thanks once again.

Best of luck...
  • #249
  • Apr 12, 2017 1:09pm Apr 12, 2017 1:09pm
Quoting kprsa
{quote} This should do the trick. Also added the Zscore=1.28 level. {file} Cheers, k
Thank you for your generosity k. It works flawless. I refreshed the chart few times and all the levels stay put.

Best of luck to you...
  • #250
  • Apr 13, 2017 3:17am Apr 13, 2017 3:17am
Hi GTH,

updates:
Day 4 - 3 setups,
1 x SL
1 x BE
1 x no entry

Day 5 - No trade, busy with work

Day 6 - 4 entries,
2 x exit with profit (do not hold overnight)
2 x no entry

Overall, sound method of trading. RR 3 to 1, profitable in the long run.
2 things to take note: identifying the immediate trend and refreshing the chart with the indi (else gonna setup in the wrong place, lol)

Thanks GTH for this wonderful method, clear entry, and exit, as long as one can identify the immediate trend.

Cheers,
  • #251
  • Apr 13, 2017 3:36am Apr 13, 2017 3:36am
Quoting FireFries
Hi GTH, updates: Day 4 - 3 setups, 1 x SL 1 x BE 1 x no entry Day 5 - No trade, busy with work Day 6 - 4 entries, 2 x exit with profit (do not hold overnight) 2 x no entry Overall, sound method of trading. RR 3 to 1, profitable in the long run. 2 things to take note: identifying the immediate trend and refreshing the chart with the indi (else gonna setup in the wrong place, lol) Thanks GTH for this wonderful method, clear entry, and exit, as long as one can identify the immediate trend. Cheers,
Hi FF,

You're always welcomed and thank you for your input and stats... I don't recommend the levels to be used as a mechanical manner, like enter short at 78, exit at 0. I know I started the thread recommending this but it was just one way of using it. I really wish people start devising new methods of using them.
Since kprsa made the daily indicator showing past days levels, I will do some kind of stats to see the the number of ways the levels can be used.

Thanks for sharing your stats.

Good Luck...
  • #252
  • Apr 13, 2017 6:42am Apr 13, 2017 6:42am
Quoting GoldTheHun
{quote} I don't recommend the levels to be used as a mechanical manner, like enter short at 78, exit at 0. I know I started the thread recommending this but it was just one way of using it. I really wish people start devising new methods of using them.
The levels seem spot on to me.

I understand that the motivation for this method goes from random walk and is intended for intraday trading.

However, one way of using this would be when some indicator on daily TF - for example nonlagdot, TDI, Ichimoku, Heiken Ashi... - shows a trend change. Then one makes the according entry and remains in trade as long as the trend is confirmed by the indicator on the daily scale.

(This automatically takes care of the cut losses short/let profits run principle. The entry method also allows for compounding, which is useful.)

Cheers,
k
  • #253
  • Apr 13, 2017 6:56am Apr 13, 2017 6:56am
Quoting kprsa
{quote} The levels seem spot on to me. I understand that the motivation for this method goes from random walk and is intended for intraday trading. However, one way of using this would be when some indicator on daily TF - for example nonlagdot, TDI, Ichimoku, Heiken Ashi... - shows a trend change. Then one makes the according entry and remains in trade as long as the trend is confirmed by the indicator on the daily scale. (This automatically takes care of the cut losses short/let profits run principle. The entry method also allows for compounding,...
Thanks for your idea k,

I totally agree with what what you are saying. There are so many ways to use these levels but the combos should have to be spewed out by a computer.. Honestly my mind is going crazy just thinking of the ways to use these... I think we are just scratching the surface here...

Thanks once again and Good Luck as always...
  • #254
  • Apr 13, 2017 1:07pm Apr 13, 2017 1:07pm
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_1.jpg Size: 92 KB


US30 Today
  • #255
  • Apr 13, 2017 1:14pm Apr 13, 2017 1:14pm
Some added moving averages increase the confidence
  • #256
  • Apr 13, 2017 1:15pm Apr 13, 2017 1:15pm
Quoting imran.78p
{image} US30 Today
Great imran,

I am trading spx futures also, so I have seen the very similar. It was a perfect day to make money. Perfect setup and perfect price action..
Thank you for sharing your chart..

Good Luck...
  • #257
  • Apr 18, 2017 3:47am Apr 18, 2017 3:47am
R.I.P
Never Ever Give Up!
  • #258
  • Apr 18, 2017 4:26am Apr 18, 2017 4:26am
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_1.jpg Size: 103 KB


another success story
  • #259
  • Apr 18, 2017 4:27am Apr 18, 2017 4:27am
Pair is GJ
  • #260
  • Apr 18, 2017 4:47am Apr 18, 2017 4:47am
Quoting imran.78p
{image} another success story
Congrats imran,

Great entry and exit...

Good Luck...
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