Forex Freeway - page 19

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just do a google search for CCI. i usually take it easy when its +200 or -200. more than that and i get really careful and most liekly trade in the other direction for a small correction. it also depends on the trend, you gotta allow price to come back to buy on dips in an uptrend or sell rallies in a downtrend. of course there is exceptions like the eur/usd and other majors rally to new highs/lows that we have seen lately without any big retrace.

 

Thanks for your post Daniel. In my estimation there is not a more powerful way to wealth than thru compounding and 10-20 pips per day can get you there. I also think that Rob always offers good mentorship not to mention good humor. Additionally if an occasional large move comes along then it's icing on the cake.

DanielTyrkiel:
Perhaps in many ways you are right, but look at it this way:

If a system provides a certain probability of producing a trade that will go your way without hitting the stop loss, then it is the issue of how far it will go. The chances of continuing without a retrace (at least) grow smaller as your trade profit grows. Therefore, your higher probability trades are the ones that lend less pips. It is best money wise and emotion wise to take high probability trades and compound the result. I know it is difficult to let go of a trade that goes your way, and if you can't stand seeing that, you may want to close half of the position on, say, 30 pips, and let the other half run. Here stands another issue of choosing a method of staying in a trade. Where is enough, where do I finally exit?

Here's a link to a post by Rob Walton, who has been trading successfully for years and most of the time trades small and compounds his profits.

http://www.spreadtrade2win.com/forum/viewtopic.php?p=12431&highlight=compounding#12431

Also, check out my recent post on greed and discipline in my blog:

http://flyingmoney.blogspot.com/
 

Hi everyone,

This thread is going quieter while the market is really making a lot of noise. I have made some pretty good gains last few trading sessions. I collected about 194pips in 2 days trading as I just sat thru and waited rather than go for a short quick gain.

Any of you using the freeway regularly and would like to post results here?

I really like this indicator and would love to hear how you other guys are doing.

Regards

 

Hi

Pls can you write what is your entry and exit rule and what indicators you are following

 

kumawat:

i look at the 4h lane and see which direction. lets say its green then id be looking to buy. basically you have to buy on dips. some people use indicators like rsi and buy when its oversold some people use the 144 EMA as a strong support/resistance area. some people use the murray math and enter around the 0/8 or 1/8 lines basically around strong support. vice versa for a downtrend when the4h is red you would look to sell on rallies.

plot them all and test them out see which one works do a bit of visual backtesting and you should be making some pips in no time. its all about finding what works for you because almost everybody in here use the same indicators but trade them their own way.

ive had great success collecting around 150 pips on gbp/usd using 144 EMA as a strong support area and some murray math and trading in the direction of the 4h lane. also if all first 3 are red and the 4h is green i would hedge with a short to collect some pips on the retracement

id love to post some calls and soon i will since i only work part time now rather than full time so i have some time.

uptrend on gbp/usd look like its slowing down. ill be going long for a bounce up and possible continuation. wide stop and i will buy more at lower levels if necessary for a move higher.

 

That was a great post about entry, but how do you exit? What are your money management rules?

I would prefferably get out on Murray targets, and will incorporate multiple lots to be able to use the multiple targets. Stop loss would be 35 pips including spread.

 

audible alert

Just found this thread,very impressed,but have one quetion, has someone made an audible alert for FW2,if not,can someone put one in it for me.ie 4 green alert for buy,4 red alert for sell.

Keep up the good work here as this indicator is the best indicator I have seen for giving a indication of strong trend as it occurs.

 

Indicator Usage

Can you please explain how to interpret the indicator? In almost all the sample charts shown in this thread have 4 red and 4 green lines (thick). If both red and green bars are in the chart, how to I know if this is a BUY or SELL. I'm attaching one sample here. Can someone please explain how to determin the trend using this chart?

Hope the experts will answer this 'newbie' question. Much appreciated.

Files:
bez_nazwy.gif  21 kb
 
DanielTyrkiel:
That was a great post about entry, but how do you exit? What are your money management rules? I would prefferably get out on Murray targets, and will incorporate multiple lots to be able to use the multiple targets. Stop loss would be 35 pips including spread.

lol ur right i forgot that part. what i do is i go long with a wide stop most the time under the last support. if price drifts away i get in another lot with the same stop and do the same all with the same stop, then i would either get out of the last at 50 pips the 2nd at 40 pips and the first at 30 pips for a total of 120 or i would go for 40-50 pips above my average price. thats a very general example though most the time its not that easy because news can come out, market can range for a bit among other things. ive used murray for exit before and ill take ur word on it. it might not be the best money management rules, but its been working for me and as long as your with the trend youl end up a winner.

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