HAMA PAD - A Simple Trading Approach - page 134
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wow!! good
thumbs up!!!!
Impressive it is. I haven't seen a statement like that in my life. EJ, evidently you have found the answer to the "Million dollar question"
Ssotiro, I like the trades that you post. It looks that you enter based on the tmt indicator primarily. When we have a dot outside the bands, you enter. My question is, what exactly did you see on the 30 min charts to give you the direction. Apparently, the rest of the H2 indicators, but the tmt indicator on 30 min was inside the bands. Now I have no idea how you use the indicator on higher timeframes, just curious. It looks like exiting on the second dot on 5 min timeframe is a bit slow for the faster moving currencies.
Impressive it is. I haven't seen a statement like that in my life. EJ, evidently you have found the answer to the "Million dollar question"
mpower,
Good eye you got there. Not only when dots break outside the band, but also if dots break zero line, which is an even higher probability trade. Both HAMA bars and Step lines on main chart give direction. Other indy's, such as momentum filter at the bottom, are not required but make you feel a little more at ease. Less is more with HAMA set-ups. 2-3 powerful indy's is all one needs. Little to no confusion and with PAD (Patience Analysis Discipline), you will experience a greater possiblilty of success.
Best exits, IMHO, on faster TF's is the old close-out-half-of-order-when-certain-profit-level-is-hit-and-trail-the-rest technique. I ask that any of my fellow HAMA's please correct me if they feel differently.
Peace,
F.F.L. (akademikjeanius to HAMA's)
mpower, what I do is look at the 30M to see the trend. In both case, T-steps had crossed (red line over the blue one), TMT dots were below the zero line, hence downtrend, plus, the trade line was gold and point down.
Then I look at the 5M for the "textbook" entry. In both cases, we had t-steps cross, TMT red, outside the tunnel and below the zero line and trade line was gold and pointing down.
So, these were "by the book" entries on the 5M. I was just looking at the 30M to get the trend.
tnks!!!
Thank you very much for the explanation ssotiro and F.F.L. It is crystal clear to me now what an H2 textbook entry is
A picture says a thousand words
No problem
You're most welcomed.
PAD (Patience Analysis Discipline)
Price Area Direction
Nice system
Price Area Direction
That too, FerruFx
My own personal twist on the acronym. Unofficial but nonetheless true.
Patience Analysis Discipline refers to the psychological side of trading.
Peace,
F.F.L.