Catching big waves
how do i use this? when do i enter and exit ?
what is the maximum way to cash on moving waves? how can we pick out the absolute top and bottom?
so far i found HAMA PAD + buy sell generated by MACD very very good. its able to catch easily 3 digit pips.
im looking around to see what other ways there are to maximize on catching big waves. i think even simple crossovers can work very well on large time frames.First of all, I am glad that you have found the HAMA PAD enabling you "to catch easily 3 digit pips. Are you now looking to catch easily 4 digit pips from a single pair?
With regards to the "maximum way" and "absolute top and bottom", as good as an idea it is, the recent market behaviour, in most instances, will take you out of that game if you are not very careful. A zigzag method may give you the tops and bottoms but you have to know how to use it properly as you have some repainting issue there. Check some ideas on how to use it from Follow the Bouncing Pip and/or the new Zorro threads, in addition to the HAMA PAD thread. Support and Resistance will also help you out. However and like I said, the market movement with its Bulls and Bears play action will and can take you out of tops and bottoms game unless you are well prepared. Take a look at the EURUSD chart on hourly in the last couple of days and you will see what I am referring to.
You can view some of the recent charts posted on the HAMA PAD thread, particularly the last EURUSD chart where it was traded LONG from near the bottom. Although, you can use the zigzag for direction, you may consider giving up some pips to enter at higher probability zone. You will still end up with "3 digit pips" profit. You can also look at the levels on EURUSD posted by Nina on his CatFX thread where he also entered LONG on EURUSD near the bottom.
banzai suggested the use of the rainbow type indicator. Something to consider. There are other rainbow indicators available in this forum at your disposal. The latest being the VMA rainbow by Igorad. Even with these rainbow indicators, there will be instances where you will be skipping some pips to get in the higher probability trades.
Just my 10 pips. I hope it is helpful.
ENJOY!
fxcruiser
oh absolutely. i think picking out top and bottom is a dangerous game.
what i like about hama pad is that it gives solid confirmation to my macd signals.
of course pips are meaningless. its the lots that count.
but its pretty tempting, having caught huge waves, what if i used 10$ = 1 pip.....we are talking 5 digit figures in a week~!
i will post some scr shots.
fxcrusier, are u working on anything new lately? i also tried joining the google grp but still haven't got a response from you.
cheers!
oh absolutely. i think picking out top and bottom is a dangerous game.
what i like about hama pad is that it gives solid confirmation to my macd signals.
of course pips are meaningless. its the lots that count.
but its pretty tempting, having caught huge waves, what if i used 10$ = 1 pip.....we are talking 5 digit figures in a week~!
i will post some scr shots.
fxcrusier, are u working on anything new lately? i also tried joining the google grp but still haven't got a response from you.
cheers!Yeah, your screenshot would be nice to see. Very true that total pips could lose its relevance if you use lot allocations to your trades. With that, you will find our new Z CREST interesting as it will give you possibly one of the best trade setups on any market conditions. I have sent out the information email to all who have registered from August 10 thru last Friday. Please check you email inbox.
ENJOY!
fxcruiser
How can you determine top and bottoms ?
Nic
example.
191 pips on the first entry (white arrow) to the top.
shorted right after that (white arrow), still letting it run.
i will post more if someone wants it.
the macd is useful in a sense that it can point out reversals. where as the original hama pad requires you to close position when bar reaches one of the waves. sometimes its too late for that.
this is sorta like mutual symbiosis b/t macd signal and hama pad. both strengthens each other's weaknesses. for ex, macd signal alone would give too many false signals but hama pad prevents that.
ho!
hama pad expired lmao
oh well, i find its not necessary. just heiken ashi and some stoch or EMA is enough as well.
of course this is done on a demo account, trading 6 lots...
but 50% ROI with like 5~10 stop loss.
jjk2
Everything looks fine after the fact. You said since the Hama Pad bars did not change color after the next few bars that it was safe to stay in. How do you know if that will be the case before completion of the candle especially if you are trading off the one hour chart? Anything can happen in an hour where a pair could take a dive....
I am also trying to know when to get out of a position, that is, not too late or too early. I find that using MACD or Stoch is just too much of a lag since by the time a signal occurs you may have a winner turn into a loser. Do you use any lower timeframes as an exit point?
with or without hama pad, important thing is just set a trailing stop or some stop loss. i dont think all signals are accurate, but when they move they really move
i think same stuff applies with heiken aishi, upon a new signal if color changes, exit.
do try it out, thanks for pointing these things out.
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what is the maximum way to cash on moving waves? how can we pick out the absolute top and bottom?
so far i found HAMA PAD + buy sell generated by MACD very very good. its able to catch easily 3 digit pips.
im looking around to see what other ways there are to maximize on catching big waves. i think even simple crossovers can work very well on large time frames.