**Steinitz** Method Revealed Here - page 71
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HAS System
has anyone done any analysis on the relationship between te size of the HA body and wick and th etrend strength. Its visible that the body gets larger and the wick gets smaller as the trend gets stronger. Could this be a useful filter at some stage for an EA it may be needed.
P.s. My comment on brokers stop running was a bit "tongue in cheek"
Your post #712
STEVEC
I totally agree with your post #712 especiallly the last paragraph. Too much
info in too many place adds to the confusion. This is a real simple system
that leaves a very clean chart chart & I think some are having trouble with
HAS for just that reason, its simplicity. I have several trader friends that
have so much clutter on their charts they can't even see the price. Thats
not for me. If traders would get rid of 95% of the clutter in the form of
indicators & focus on the PRICE ACTION they would soon find their funds
growing @ a nice steady rate, but that just want happen. They are always
going to search to the next best indicator. I have been in that group in
the past.
I applaud STEINITZ for shaing this simple & very tradeable method & a big
tks to those sharing their views in order to make this a profitable method.
HAS does focus on the PRICE ACTION & that is what makes it a strong method to trade once you understand its use. HAS give me approx
150 pips per week. That is only from 3-4 trades per week as I have another
method that is my primary method that I trade fulltime.
These are just my views & nothing more.
$Trader
STEVEC
I totally agree with your post #712 especiallly the last paragraph. Too much
info in too many place adds to the confusion. This is a real simple system
that leaves a very clean chart chart & I think some are having trouble with
HAS for just that reason, its simplicity. I have several trader friends that
have so much clutter on their charts they can't even see the price. Thats
not for me. If traders would get rid of 95% of the clutter in the form of
indicators & focus on the PRICE ACTION they would soon find their funds
growing @ a nice steady rate, but that just want happen. They are always
going to search to the next best indicator. I have been in that group in
the past.
I applaud STEINITZ for shaing this simple & very tradeable method & a big
tks to those sharing their views in order to make this a profitable method.
HAS does focus on the PRICE ACTION & that is what makes it a strong method to trade once you understand its use. HAS give me approx
150 pips per week. That is only from 3-4 trades per week as I have another
method that is my primary method that I trade fulltime.
These are just my views & nothing more.
$TraderVery inspiring.
Holy Grail @ work
Help With scalping
On my last post I said I don't use stops. That is not entirely accurate. I don't use stops in the manner most people envision. Most traders use stops that don't correlate to any technicals. I've heard this said before that they want to draw a line in the sand and say if the trade goes past this point I have had enough.
Some traders use pivots, fibs, Gann lines etc etc. My stops are once again driven only on price movement and are not set on the hopes that these previous technicals will magically be hit.
I am not putting these technicals down but what I am saying is if you have enough tools in your toolbox plotted on the charts the chance is high that one of these technicals will happen to get hit. If these techs were so accurate you wouldn't need so many variations of them.
So going back to my stops. My method gets you out when the color tells me that particular TF I was trading has made it's first sign of a reversal. Once that happens I exit. I have not had that happen yet. Will it occur? Yes. My hopes and expectations are that I will have made plenty of profits and won't mind an occasional stop hit.
Will my account explode? No. I trade according to my assumed edge and divide the capital spread out across UP to 10 currencies pairs where some are correlated and some not. This stop feature is being programmed in the alert/EA between Lee and myself.Hi Steinitz could you please explain exactly how you are trading the scalping method what time frame do you perfer to trade off i read that you look to take around 25 pips targets and i read that you start top down ie monthly,weekly daily 4 hr ect but which is the main tf you trade off i know you said that you do use stop loss but will get out if the colour changes could please tell me more about this, would it be right to trade just off the 4hr as main tf and use that as the main trend and go top down from this or not also will there be a e-book explaining how you trade the scalping method just like there is for the trend method.
With many Thanks
David-T
Hi Steinitz could you please explain exactly how you are trading the scalping method what time frame do you perfer to trade off i read that you look to take around 25 pips targets and i read that you start top down ie monthly,weekly daily 4 hr ect but which is the main tf you trade off i know you said that you do use stop loss but will get out if the colour changes could please tell me more about this, would it be right to trade just off the 4hr as main tf and use that as the main trend and go top down from this or not also will there be a e-book explaining how you trade the scalping method just like there is for the trend method.
With many Thanks
David-TThis was previously posted by Steinitz. Hope it helps.
Scalping Technique Made Easy
As promised I am attaching some images of the technique to capture PIPS O' plenty after a move has been identified. This method is similar to the other method outlined on the other thread in this HAS forum but better and mechanical.
First start with the longest TF you desire to trade with. You could actually start with the monthly Tf and use that as a reference to scalp some huge moves. I would recommend that you start with the 4Hr Tf as it is a nice compromise for stability and enough PIPS that can be withdrawn from your ATM.
So start with the 4hr TF. In this example we are looking to short (red candles). Confirm that this currency is trending. By now you should know how to identify a trend e.g. all one color on the 4hr Tf row. If the higher TF's like the daily, weekly and monthly are also the same color you are in a nice long lasting trend that affords a measure of less risk.
Now switch to one lower TF which in this example would be the 1hr. Look for a colored bar(s) that is opposite of the color of the primary trend. I switched down to the 1hr and see no blue "4TF HAS BAR" candles so I switch down again to the 30M. I see one area of blue so I take notice and wait patiently for the next bar that closes red.
After identifying the first closed red candle (30M) I enter short on the open of the next 30M candle. If I had not found any blue candles on the 30M I would have switched down to the 15M and looked for a blue candles.
Keep in mind that this will work on any combination of TF's. The method is sound. The higher TF's produce more PIPS. The lower TF's produce less pips and last less time. How you want to exit with profit is your decision. I don't want to go into hours and dissertation on exits. There endless.....
Please report in how you are doing with this. If you want to donate any money my favorite charity is one that involves animals.
This was previously posted by Steinitz. Hope it helps.
Scalping Technique Made Easy
As promised I am attaching some images of the technique to capture PIPS O' plenty after a move has been identified. This method is similar to the other method outlined on the other thread in this HAS forum but better and mechanical.
First start with the longest TF you desire to trade with. You could actually start with the monthly Tf and use that as a reference to scalp some huge moves. I would recommend that you start with the 4Hr Tf as it is a nice compromise for stability and enough PIPS that can be withdrawn from your ATM.
So start with the 4hr TF. In this example we are looking to short (red candles). Confirm that this currency is trending. By now you should know how to identify a trend e.g. all one color on the 4hr Tf row. If the higher TF's like the daily, weekly and monthly are also the same color you are in a nice long lasting trend that affords a measure of less risk.
Now switch to one lower TF which in this example would be the 1hr. Look for a colored bar(s) that is opposite of the color of the primary trend. I switched down to the 1hr and see no blue "4TF HAS BAR" candles so I switch down again to the 30M. I see one area of blue so I take notice and wait patiently for the next bar that closes red.
After identifying the first closed red candle (30M) I enter short on the open of the next 30M candle. If I had not found any blue candles on the 30M I would have switched down to the 15M and looked for a blue candles.
Keep in mind that this will work on any combination of TF's. The method is sound. The higher TF's produce more PIPS. The lower TF's produce less pips and last less time. How you want to exit with profit is your decision. I don't want to go into hours and dissertation on exits. There endless.....
Please report in how you are doing with this. If you want to donate any money my favorite charity is one that involves animals.Unless you can pick tops and bottoms, this along with the indicators is really all you need.
Keep it simple
$trader I couldn't agree more, I stick with the original method which works fine for me! You mention you have another method! Is there another thread where I can be enlightened?
DelBoy
STEVEC
I totally agree with your post #712 especiallly the last paragraph. Too much
info in too many place adds to the confusion. This is a real simple system
that leaves a very clean chart chart & I think some are having trouble with
HAS for just that reason, its simplicity. I have several trader friends that
have so much clutter on their charts they can't even see the price. Thats
not for me. If traders would get rid of 95% of the clutter in the form of
indicators & focus on the PRICE ACTION they would soon find their funds
growing @ a nice steady rate, but that just want happen. They are always
going to search to the next best indicator. I have been in that group in
the past.
I applaud STEINITZ for shaing this simple & very tradeable method & a big
tks to those sharing their views in order to make this a profitable method.
HAS does focus on the PRICE ACTION & that is what makes it a strong method to trade once you understand its use. HAS give me approx
150 pips per week. That is only from 3-4 trades per week as I have another
method that is my primary method that I trade fulltime.
These are just my views & nothing more.
$TraderThank you
This was previously posted by Steinitz. Hope it helps.
Scalping Technique Made Easy
As promised I am attaching some images of the technique to capture PIPS O' plenty after a move has been identified. This method is similar to the other method outlined on the other thread in this HAS forum but better and mechanical.
First start with the longest TF you desire to trade with. You could actually start with the monthly Tf and use that as a reference to scalp some huge moves. I would recommend that you start with the 4Hr Tf as it is a nice compromise for stability and enough PIPS that can be withdrawn from your ATM.
So start with the 4hr TF. In this example we are looking to short (red candles). Confirm that this currency is trending. By now you should know how to identify a trend e.g. all one color on the 4hr Tf row. If the higher TF's like the daily, weekly and monthly are also the same color you are in a nice long lasting trend that affords a measure of less risk.
Now switch to one lower TF which in this example would be the 1hr. Look for a colored bar(s) that is opposite of the color of the primary trend. I switched down to the 1hr and see no blue "4TF HAS BAR" candles so I switch down again to the 30M. I see one area of blue so I take notice and wait patiently for the next bar that closes red.
After identifying the first closed red candle (30M) I enter short on the open of the next 30M candle. If I had not found any blue candles on the 30M I would have switched down to the 15M and looked for a blue candles.
Keep in mind that this will work on any combination of TF's. The method is sound. The higher TF's produce more PIPS. The lower TF's produce less pips and last less time. How you want to exit with profit is your decision. I don't want to go into hours and dissertation on exits. There endless.....
Please report in how you are doing with this. If you want to donate any money my favorite charity is one that involves animals.Hi Fxshadow Thank you very much for the information a great help
David-T
Steinitz,
You have to right click on the trade in the terminal window (that you have just opened) and under "Modify or delete order" there is a section called modify order, there is a box called " take profit". Here is where you would put the price to close out the position.
What you did with the sell limit was to open an opposite position which does not automatically c lose out your exising trade.
regards
Still haven't figured out why the demo is placing trades that aren't logical.
Here is my issues:
1. A position is opened. It's a buy 1 lot of GBP/JPY @ 238.98
2. I then place a pending order: "sell limit" 1 lot GBP/JPY @ 239.23 I come back to see that the price was hit but it opens a sell order and doesn't close out the original one.
1. BUY ORDER 5843697 2007.05.01 02:48 buy 1.00 gbpjpy 238.980.00 0.00 2007.05.01 08:59 239.33 0.00 0.00 0.00 292.86
2. SELL LIMIT ORDER 5843716 2007.05.01 08:45 sell 1.00 gbpjpy 239.230.00 0.00 2007.05.01 08:59 239.40 0.00 0.00 0.00 -142.23
Any ideas?????Finally the answer
Steinitz,
You have to right click on the trade in the terminal window (that you have just opened) and under "Modify or delete order" there is a section called modify order, there is a box called " take profit". Here is where you would put the price to close out the position.
What you did with the sell limit was to open an opposite position which does not automatically c lose out your exising trade.
regardsThanks CiTiFx !!!!!
That is not intuitive at all. I have never seen a platform that confusing. In fact EFX gives seminars on there ECN and it is much more logical then this.
Thanks again.....