You cannot be extraordinary by being normal
- #282
- Feb 26, 2017 7:04am Feb 26, 2017 7:04am
- Joined Jul 2013 | Status: Gone | 1,106 Posts
You cannot be extraordinary by being normal
- #284
- Mar 14, 2017 10:12pm Mar 14, 2017 10:12pm
- Joined Jul 2013 | Status: Gone | 1,106 Posts
Could you post the Mt4 source code for your indicator that shows the predicted direction up & down & the numbered circles 1/2/3 to the bigger deviations, so i can try in my Mt4 platform. Many thanks.
I have no idea if there are better settings or not. I used to scalp a long time ago and wanted to see the blue dots. You might have to adjust it? I think these might even have been the original settings. I never found much information about how to use it, so I just let it ride. It seems to have fibo numbers, but no idea why. It repaints each time price passes its previous value, so it is not trustworthy for a trading signal. Now I use for defining initial stops and for reviewing historical charts to make sure my technique worked in between the yellow dots.
By the way, when you open Meta Editor, go to File / Open Data Folder and you can see the path where your indicator files are kept. In the future, you can simply cut and paste exe files directly into the folder. You cannot edit them, but at least you can use them.
If you did not know, after you get this to land in Meta Editor and make whatever adjustments you want, then be sure to click COMPILE. That will create the exe file.
You cannot be extraordinary by being normal
- #289
- May 21, 2017 10:09am May 21, 2017 10:09am
- Joined Mar 2017 | Status: Working smart and hard | 2,949 Posts
This is not investment/trading advise. Will not hold accountable for loss
- #291
- May 21, 2017 10:33am May 21, 2017 10:33am
- Joined Mar 2017 | Status: Working smart and hard | 2,949 Posts
This is not investment/trading advise. Will not hold accountable for loss
- #292
- May 21, 2017 2:30pm May 21, 2017 2:30pm
- Joined Jul 2013 | Status: Gone | 1,106 Posts
You cannot be extraordinary by being normal
- #294
- May 21, 2017 5:29pm May 21, 2017 5:29pm
- Joined Jul 2013 | Status: Gone | 1,106 Posts
You cannot be extraordinary by being normal
- #296
- May 22, 2017 3:02am May 22, 2017 3:02am
- Joined Mar 2017 | Status: Working smart and hard | 2,949 Posts
The probabilites and trigonometry part was really interesting , althought not quite sure how those two merge in the context of trading.
This is not investment/trading advise. Will not hold accountable for loss
- #297
- Edited 5:06pm May 22, 2017 4:22pm | Edited 5:06pm
- Joined Jul 2013 | Status: Gone | 1,106 Posts
Trigonometry defines the pattern you want to measure; the cosecant of the trade.
Probability defines the data points that are most responsible for creating the cosecant.
Trigonometry shows you its high and low after the trade.
Probability shows you its high and low during the trade.
As long as your probability is inside your cosecant (upper and lower values), you have a winning trade, depending upon the cosecant being larger than the spread and there is no human error in opening/closing the trade. The probability exit is also the next probability entry, making it a true swing trading method.
Probability defines the data points that are most responsible for creating the cosecant.
Trigonometry shows you its high and low after the trade.
Probability shows you its high and low during the trade.
As long as your probability is inside your cosecant (upper and lower values), you have a winning trade, depending upon the cosecant being larger than the spread and there is no human error in opening/closing the trade. The probability exit is also the next probability entry, making it a true swing trading method.
You cannot be extraordinary by being normal
- #298
- May 23, 2017 3:32am May 23, 2017 3:32am
- | Joined Sep 2013 | Status: Trader | 72 Posts | Online Now
Trigonometry defines the pattern you want to measure; the cosecant of the trade. Probability defines the data points that are most responsible for creating the cosecant. Trigonometry shows you its high and low after the trade. Probability shows you its high and low during the trade. As long as your probability is inside your cosecant (upper and lower values), you have a winning trade, depending upon the cosecant being larger than the spread and there is no human error in opening/closing the trade. The probability exit is also the next probability...
. I think i understand the logic behind and if you don't mind i have a question . How do you define the point from where you measure the angle ? Is it just the high / low where the previous trade's probability went outside the cosecant , or is it something completely different ? Really interesting perspective .
- #299
- Edited 10:33am May 23, 2017 8:54am | Edited 10:33am
- Joined Jul 2013 | Status: Gone | 1,106 Posts
{quote} That't really cool
Maybe the easiest way to understand the mechanics of it are that I enter when probability's assessment signals a trade. Then I use the area of the last high/low as my stop loss. If price does what is probable, then I win. If price does not do what it probable, then I will lose by either the stop loss, or a reverse signal of probability. A reverse signal means that price has also made its cosecant and is reversing. Normally, I am able to take the reverse signal and the stop is never hit.
Ideally, the probability signal occurs at the point where price is moving vertically. Often at the end of the cosecant triangle are areas of consolidation. In my SWOT analysis, I have two major areas of loss. One is news since I have no idea what will happen when it is announced. The second is consolidation, since indicators will roll flat with price, causing a strong tendency for whipsaw trading. Rather than getting stuck in it, I try to jump over it. By concentrating on the candles that are the "point of no return", I limit having signals occur during consolidation and double tops and bottoms. I do this by requiring a sample size of the candles that exceeds those areas and inherently provides stronger points of entry that normally occur when price is ready to actually move vertically. The "point of no return" is the candle that moves vertically away from the high/low/consolidation and does not return to it within that specific trade. It can go back on the next trade, but that is a new signal.
You cannot be extraordinary by being normal