Channel trading system - page 3
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hello newdigital
this is a 4hr chart which encouraged me to take the trade netting 47 points total on usd/jpy. I am still learning my ways and looking all the indicators available on this great forum. Right now i am on demo but very soon planning to go live. after the 4hr chart i drill down to 1hr and 30 min for entries
hello newdigital this is a 4hr chart which encouraged me to take the trade netting 47 points total on usd/jpy. I am still learning my ways and looking all the indicators available on this great forum. Right now i am on demo but very soon planning to go live. after the 4hr chart i drill down to 1hr and 30 min for entries
Seems you created new system.
Will you post some explanation, rules and so on for discussion?
It may be very interesting (and for me as well).
Seems you created new system.
Will you post some explanation, rules and so on for discussion?
It may be very interesting (and for me as well).yes ofcourse i will post explanation
ok i wait for two things
(1) price at end of shi-channel either at the top or at the bottom which is the normal way you posted as a system
(2) price has already been to lets say from one corner to other and now retracing back to the mid-line of the shi-channel
i am talking here from 4hr to 30 min charts
ok with 2nd option (midline) instead of fractals or anything else yet i used RSI (simple ) set to 14 for any possible divergence or overbought levels or oversold levels with price and then drill down to a lower time frame to see where the last low was if lets say the price was down and now comming up then i measure the retarcement of that move from a-b which should end near 0.236 or 0.786 which is also going to be mid of shi-channel (most of the time ) if not then i will check for price to stay at that level for some in a shorter time frame and then create a divergence which will again trigger my entry. with step rsi what i have gained is the slow rsi which ofcourse works as a major support and reistance for me if it is above 50 a mojor move will come if not expect small retracement or maybe big move.
for the 1st option i use the same technique instead i am not thinking of any retracement i am more thinking of an end of price move. One more thing is i wait for entries and love to trade with eur,gbp but was not sure about them so traded jpy which ended ok. Sometimes even price is end of the channel and rsi doesn't show me good entry so i have no option but wait.
hello newdigital
i checked the high-low v2 with usd-chf 15 min along with normal rsi and shi-channel looks very good maybe it can get even better with some more indicators
will continue testing it.
i like to post a chart but the shi-channel has increased the size now so i wont be able to show my views there is a forecast indicator you have posted goes with zig looks good on it too.
hello again newdigital
i have managed to get the latest development for my original system but it's in lower time frame i am posting here to try to show you how my system works consider the same things happening in 4hr time frame to hourly just i dont wait for crossings also this trade could become valid trade for the target of next shi-channel corner.
tf 15 min.
no high-low indicator
hello again newdigital
i have managed to get the latest development for my original system but it's in lower time frame i am posting here to try to show you how my system works consider the same things happening in 4hr time frame to hourly just i dont wait for crossings also this trade could become valid trade for the target of next shi-channel corner.
tf 15 min.
no high-low indicatorin addition to above i also look for where i got the signal i mean at what fibonacci level since price can just go to midline and come back and it will become a loosing trade there are lots of details and its very hard for me to explain because sometimes i just dont take signals even though it gaved me cause the other currency e.g euro is behaving differently so there is too much decision making i hope one day i can explain properly maybe in sometime
in addition to above i also look for where i got the signal i mean at what fibonacci level since price can just go to midline and come back and it will become a loosing trade there are lots of details and its very hard for me to explain because sometimes i just dont take signals even though it gaved me cause the other currency e.g euro is behaving differently so there is too much decision making i hope one day i can explain properly maybe in sometime
As you can see l how the chf- is behaving and sometimes i wont even wait for the rsi to cross the green line which is actually slow line from the 30 min time frame.
Hello again, NewDigital:
Thanks for responding to my request. You didn't have to but you did. Its appreciated. We are all learning from your experiences and the information you have collected and so generiously shared.
You mention people (nameless except for their forum 'handle') who worked long and hard developing a trading system yet never got paid for their labors nor were given a Thank You! Most certainly, those who have profited from their labors, at a minimum, owe them their gratitude. However, if the developer's goal is not that of a mentor but rather profit in a free(?) market. Then, unbelievably more is required of them. They must have something to offer that people are willing to hand over their hard earned money to acquire, be adequately capitalized, be dedicated entrepreneurs, and be prepared to deal with critics, determined competitors and thieves. The problem with selling information (i.e., trading systems) these days is that it illegally becomes public domain in a heart beat because of the internet. Besides, you can't keep knowledge proprietary for very long - ask your favorite government or better yet eASCTrend, if you doubt it. Sooner or later those who want to know are going to know the "Big Secret."
The way I see it, forums like this one, are like universities. Here there is an open exchange of knowledge, research, and ideas. Ideally, what goes on here is for the common good. And, yeah, we are going to have to put up with useless chatter (my/this post probably falls in that catagory) sometimes.
I have bought many investment and trading books over the years but not one has had as much impact as the forums I have visited - especially, this one. Sooo, Mr. NewDigital, .... thanks again for the Shi and Zig-Zag info.