Market Predatorfx58 | Page 2 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Auction Market Theory and Market Profile 26,026 replies

market Theory 101 Supply and Demand,Market Cycles 7 replies

Market Makers or Market Gamers? 0 replies

Market Size (S+P 500 compared to Forex Market?) 0 replies

Time in the Market, Beats Timing the Market? Does this work in FX?? 7 replies

Attachments: Market Predatorfx58
Exit Attachments

Market Predatorfx58

  • #21
  • Jun 9, 2017 10:48pm Jun 9, 2017 10:48pm
Quoting PrinceJ58
Greetings to everyone, I hope when you have made your first visit here you are in "good health". This is your first visit but not your last, since your experience here will create that spark to keep you burning with interest and the drive to make and keep profits. In this thread my only aim is to share the strategies that i have overtime put together with aims of creating a set and forget system. I have had a 9-5 (JOB) since i have been introduced to trading, which i love but have been experiencing a thug and war between it and trading. I have been...
Thanks, very informative. This has been what's on my mind too. Will read up and learn.
supportinng to keep your thread alive.
  • #22
  • Edited 11:28pm Jun 9, 2017 11:04pm | Edited 11:28pm
Y
Quoting CliffyC
{quote} Thanks, very informative. This has been what's on my mind too. Will read up and learn. supportinng to keep your thread alive.

I will also do my best... CliffyC.

The pivot pictures posted above of fridays close would not have been the most ideal way to view the potential accuracy but it does work.

I would have to use a historical plotting pivot to highlight the above strategy in its fullness.
R:R "Percentage Focus"
  • #23
  • Jun 10, 2017 1:50am Jun 10, 2017 1:50am
Quoting PrinceJ58
Y{quote} I will also do my best... CliffyC. The pivot pictures posted above of fridays close would not have been the most ideal way to view the potential accuracy but it does work. I would have to use a historical plotting pivot to highlight the above strategy in its fullness.
something like using average daily range and pivots to help with take profits?
like directions and sign posts when driving?
  • #24
  • Jun 10, 2017 1:58am Jun 10, 2017 1:58am
Quoting PrinceJ58
Thanks for all those who have spent time to read thus far, we have just started and will continue. Thank you for your thoughts everyone, they have been read and considered. Shifting out the bad and leaving the good is the main aim here. I am also sure that many thoughts will come through and combine to create something of worth. I will continue with the range breakout, Displaying the ease of tools/indicators that make life much easier in identify the ranges for potential breakouts. Each asset has their own volatility and average daily range that...
I am seeing the consolidation with the boxes easier now. Good job! Keep it going!
  • #25
  • Jun 10, 2017 6:18am Jun 10, 2017 6:18am
Quoting CliffyC
{quote} something like using average daily range and pivots to help with take profits? like directions and sign posts when driving?
Exactly, the average daily move would allow us to know when a pair is acting outside of its normal characteristics.
Signs of low or high liquidity are general signs of overall volume or traders observing and responding to situations: it could be economical, political, natural disaster, crisis etc depending on the asset. So yes in my opinion of adr would give us a guide for expected trading movement, take profit and safe placement of account protection.

Even though other indicators can be used to aid in giving us a bias, we have to be aware of fundamental situations which sometimes over ride the technical rules. The use of pivots and other indicators can be used, however price can do what we least expect it to do, but we will atleast have an edge. Its is all high and low probability in my thoughts.

Nevertheless price has historical characteristics in movements and if we learn to observe and understand an asset we will be better able to make informed decisions.
R:R "Percentage Focus"
  • #26
  • Jun 10, 2017 6:46am Jun 10, 2017 6:46am
Quoting CliffyC
{quote} I am seeing the consolidation with the boxes easier now. Good job! Keep it going!
CliffyC, what I recently started to do was to monitor the brokers asset spreads, margin requirements, payout per pip in order to know which assets to spend more time on. As it makes no sense to me, to trade assets of high spreads, similar currency strengths, which only pays out less than all our risk and efforts.

There are some assets which can give you a large pip move but requires more margin and spread to pay the brokers to actually carry out the transaction. Pairs like the exotics nok, zar, rub, mxn and others. However the ranges would be different but when ever they choose a direction they just head there.

I am also doing an excel spreadsheet in table form to identify historically range data per asset which would help us to identify the best range levels in which we would expect an asset to generate better breakout results.

It would be good if we all work on it and compile one document to serve as a cheet sheet. For eg eurusd ranges between 10 and 20 pips during Asian sessions, while usdjpy would be let say 15 to 30 pips for ranging situations. So we have an idea what we should look for in take profits as well mentally establishing our overall best risk:reward, a pair range guide sheet alongside the average daily range in one spreadsheet or dashboard.

I hope there is an indicator that will allow us to reach the cheet sheet goal much easier. Like a dashboard which we could place on the chart, giving us a hint of which pair to spend time on as added filter. This would identify what the safe ranges are based on ADR of the asset, which would in turn give us a final signal for trading conditions- eurusd-trade, usdjpy-no trade.
R:R "Percentage Focus"
  • #27
  • Jun 10, 2017 7:15am Jun 10, 2017 7:15am
For a simple but effective dashboard I think "CJA" and others had made a similar indicator in the past. Oh good, I just did a quick search and saw one.

Those that already exist would probably need a slight adjustment to fit the criteria that would be best suited for this information.
Attached Images
R:R "Percentage Focus"
  • #28
  • Jun 10, 2017 8:17am Jun 10, 2017 8:17am
A good thread ad one of the most intelligent looks at price. I will share some information here to help people as I like this approach.
  • #29
  • Jun 10, 2017 8:42am Jun 10, 2017 8:42am
Quoting Hurst
A good thread ad one of the most intelligent looks at price. I will share some information here to help people as I like this approach.
Hurst, thank you for your kind opinion and commitment. I look forward to what you and others will have to share, impacting others for greatness.

I hope to be of great help to others who are starting and struggling with no one to hold their hands, jumping from system to systems. Hopefully this can help families who struggle financially or just need more control over mediums of investing.

I also have other systems but I would prefer sharing this one first since its easier to grasp. A KISS method. I like this strategy for the very fact that it mentally provides ease in making trade decisions. One can trade it plain with the session indicator or add other indicators, I like to keep it simple.
R:R "Percentage Focus"
  • #30
  • Jun 10, 2017 9:41am Jun 10, 2017 9:41am
Quoting PrinceJ58
{quote} Hurst, thank you for your kind opinion and commitment. I look forward to what you and others will have to share, impacting others for greatness. I hope to be of great help to others who are starting and struggling with no one to hold their hands, jumping from system to systems. Hopefully this can help families who struggle financially or just need more control over mediums of investing. I also have other systems but I would prefer sharing this one first since its easier to grasp. A KISS method. I like this strategy for the very fact that...
Hi PriceJ58,

Would you be able to share your strategy in a step by step mechanical way so that people interested in building an ea can come on board to make this happen?
  • #31
  • Jun 10, 2017 10:01am Jun 10, 2017 10:01am
Quoting fanatics
{quote} Hi PriceJ58, Would you be able to share your strategy in a step by step mechanical way so that people interested in building an ea can come on board to make this happen?
Please refer to post #13, I will expound more on whatever details I think is necessary information needed for coding. I have highlighted the fact that I have started to collect data on the range parameters of each asset that is suitable for a breakouts. However each asset ranges for different reasons. My basic knowledge would suggest that when the market is either expecting high impact news or the session for the asset is closed, it would range.
R:R "Percentage Focus"
  • #32
  • Jun 10, 2017 10:55am Jun 10, 2017 10:55am
Quoting ratane
i like to learn more.i m bigginer.how we start?
For my strategy I will continue to use photos to illustrate how to do it yourself. Other wise I will place information on trading essentials to get you up and running under your name here on the thread. I also hope it will help others, unfortunately I will only be able to do so later.
R:R "Percentage Focus"
  • #33
  • Jun 10, 2017 3:36pm Jun 10, 2017 3:36pm
Very nice thread and highly informative. Thanks a lot my friend
subscribed of course )
  • #34
  • Jun 10, 2017 5:29pm Jun 10, 2017 5:29pm
Quoting samsadeck
Very nice thread and highly informative. Thanks a lot my friend subscribed of course )
I will only try to give of my best, i am happy you find it to be interesting and informative. One hand holding the other.
Attached Image (click to enlarge)
Click to Enlarge Name: the-person-has-two-hands-one-for-helping-himself-the-other-for-helping-others.jpg Size: 41 KB
R:R "Percentage Focus"
  • #35
  • Edited 8:31pm Jun 10, 2017 7:24pm | Edited 8:31pm
So as i stated earlier i was doing an excel sheet that whoever is serious about trading this strategy can take some time to look over the pairs and see which market they would normally range in and identify it. After identifying the range of that particular pair would operate between before a breakout.

Rules and Example

  1. For eg- Eurusd is operating between 10-30 pips during Asian Session
  2. Hopefully there is a news in london session
  3. My time is Gmt-5, I would look for this range between 7pm-11pm my time which is 8pm-12pm US time to which asian session would continue for about 3 hours after i place my orders for the London open 2/3am depending on day light time saving mode.
  4. I would place Pending buy and sell stop orders 10 pips above and below the range and go to sleep zzzzzz.
  5. Wake up around 5am my time 6am US time to close my trades manually before US session open, where ever they were in profits or losses. If it were winning, I would move my stop loss to breakeven, or close a portion of the trade and leave the rest to run with stop loss at breakeven.
  6. I would look for this on all pairs to choose the best setups.
  7. N.b. the acceptable range across the pairs will be 10-50 pips in range according to the volatility of the asset for eg. Gbp pairs.

What i was aiming for daily was to place 6 orders and to capture the minimum 50 pips= 300 pips!!!!! Yes 300 Pips, My trading week would be Sunday/Monday to thursday= 1200+ pips. I would rarely trade friday but the market conditions changes from time to time and we have to adjust accordingly.

"Practice" to mark the charts 10-15 pips (depending on the asset) above and below the range. When you practice on chart and do your homework/Research it helps us all to be better. Besides, this will allow you to see whether or not you would have been triggered negatively or positively. Finally Check to see when it would be ideal to take profit! For eg. Taking profit in the same session, next session, end of day or let it ride.

When you have compiled your excel sheet, please post it here and we will compile everything into one master cheat sheet. Hopefully we get similar findings. Persons who are more advanced in excel can modify it. Thank you for time.

Cheers to a easy and probably better trading life. You tell me. Enjoy your Weekend Guys.

Attached File(s)
File Type: xls Market PredatorFx58.xls   31 KB | 435 downloads
R:R "Percentage Focus"
  • #36
  • Jun 10, 2017 7:33pm Jun 10, 2017 7:33pm
Those who have concerns about the range of 10 to 50 pips . Here is an example using GbpJpy H1 to show more than one breakout opportunities.
Cheers!!!
Attached Image (click to enlarge)
Click to Enlarge Name: 50 pips gave us a breakout.png Size: 53 KB
R:R "Percentage Focus"
  • #37
  • Jun 10, 2017 10:40pm Jun 10, 2017 10:40pm
Quoting PrinceJ58
So as i stated earlier i was doing an excel sheet that whoever is serious about trading this strategy can take some time to look over the pairs and see which market they would normally range in and identify it. After identifying the range of that particular pair would operate between before a breakout. Rules and Example For eg- Eurusd is operating between 10-30 pips during Asian Session Hopefully there is a news in london session My time is Gmt-5, I would look for this range between 7pm-11pm my time which is 8pm-12pm US time to which asian session...
Hi PrinceJ58,

Thanks for sharing your step by step guide and excel sheet. For the excel sheet, do we fill up for the last trading day or average over last x days? If average, how many days? For adr, do we use 5 day adr? For cam pivots, how do u get level 5 and 6 formula? I only found up to level 4.

Sorry for asking so many questions. Just want to make sure i will fill it up correctly. And also others will get it right too.
  • #38
  • Jun 10, 2017 11:28pm Jun 10, 2017 11:28pm
Quoting fanatics
{quote} Hi PrinceJ58, Thanks for sharing your step by step guide and excel sheet. For the excel sheet, do we fill up for the last trading day or average over last x days? If average, how many days? For adr, do we use 5 day adr? For cam pivots, how do u get level 5 and 6 formula? I only found up to level 4. Sorry for asking so many questions. Just want to make sure i will fill it up correctly. And also others will get it right too.
Fanatics, hmm, someones pulling a wisdom tooth here, ok for the Excel sheet concentrate on those you currently trade. I have traded mostly the majors, i have tried almost all pairs other than the exotics once a range had existed.

I chose my assets based on spreads, Margin Requirements, and beauty in setup. I would have done this on mobile.
When i first started i did it on naked charts-yes as simple as that, the mobile app at the time was trading station along with Netdania, so i did not have all these fancy stuff-indicators and such, just the cross hairs and One cancel the other (oco)- pending orders. However when i tried commodities with same rule on m15 back then it was not favourable with oco orders, where by one order was triggered by a false breakout, while the other pending order by nature would have been cancelled only to go in the opposite direction. So oco can work for you and not work for you.

All in all the MM session or sessions indicator is enough for us to identify the range for now, which is good enough with my thoughts nof keeping things simple. As for the ADR and Cam Pivots, those would only be necessary when you have grasp the simplicity of trading just the ranges with little or no indicators.

However for those who are still interested and want to step it up from the start, we can add ADR for average movement, CAM Pivots for bounces and breakouts for none range markets. These added indicator would allow one to better see what is happening with price action.
Attached Image (click to enlarge)
Click to Enlarge Name: I useto 2.png Size: 355 KB
Attached Image
R:R "Percentage Focus"
  • #39
  • Jun 10, 2017 11:47pm Jun 10, 2017 11:47pm
For Pivots and Cam-Pivots you may find the attached indicators below..Use with caution.
It would be good if someone could add alerts to All Pivot Points-a very effective all in one Tool.

I would rather keep things simple
Cheers...
Attached Image (click to enlarge)
Click to Enlarge Name: ultimate-pivot-points-upp-aapl-15-minute-fibonacci-pivots.png Size: 30 KB
Attached Images
Attached File(s)
File Type: mq4 camarilladt8.mq4   24 KB | 393 downloads
File Type: mq4 CamarillaOnly.mq4   7 KB | 397 downloads
File Type: mq4 Camarilla Lines Blue.mq4   14 KB | 406 downloads
File Type: mq4 xpPivotAlerts.mq4   8 KB | 410 downloads
File Type: mq4 all_pivot_points.mq4   30 KB | 418 downloads
File Type: mq4 ADR_no_sunday_bar.v1.mq4   6 KB | 353 downloads
R:R "Percentage Focus"
  • #40
  • Jun 11, 2017 12:10am Jun 11, 2017 12:10am
I have not used the ADR as yet...So i am not aware of which one will work best at the moment as i have just downloaded them. I will be retiring to B.E.D. at this point since it is now midnight.

I hope these indicators will help us in our task for greatness...
Fanatics, thanks for the questions, you reminded me of things i did not accomplish yet, so you have kept me on target.
I am looking forward to the results of the excel spreadsheets.

Nb. Keep your charts as clean as possible, the less indicator existing on your charts is best.
The less indicators we have to monitor the less brain power, required to accomplish the task.

So greetings to one and all, please keep safe until we meet again.



Cheers!
Attached File(s)
File Type: rar Avg Daily Range.rar   < 1 KB | 363 downloads
File Type: rar Average Range.rar   < 1 KB | 355 downloads
File Type: ex4 Average Range-Multi .ex4   19 KB | 364 downloads
File Type: rar ADR 1.rar   9 KB | 352 downloads
File Type: ex4 ADR_v2.ex4   11 KB | 399 downloads
File Type: ex4 !SM_ADR Marker.ex4   12 KB | 327 downloads
R:R "Percentage Focus"
0 traders viewing now