Join the Dots. - page 29
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Wayne,
Allow that now that Ive cooled down a bit, I can see where "babes" original statement could have been a question, although "muddied" by some external source, such as many pints at the pub or "dry goods", none of which I give a rats rump about ! I back that with the fact that she was defending herself by stating repeatedly that it was a "question" and i believe she just goofed on how she first addressed it !
that said, MY system is really no different than YOUR system, just with the addition of support and resistance to give one a point to shoot for on exits. Added to that is the observable reversals in the intraday trading, which allows people to exit a position so as to avoid the inevitable drawdowns as the currency reverses for half a day ----- its nothing more than an "addition" of "real time trading" to what you have and work with !
the GU "hedge system" is simply a throw away that makes decent money over time, which is why I refer to it as "beer money" and is NOT how i normally trade forex, just a little thing similar to a "nooner !"
I have spent years moderating "equities" sites, including some of the largest and NO ONE "abuses" me without coming out of it bloodied --- I can point to 4 people who attacked me when i first came to Forex-TSD, and are now asking for my "system" (which is nothing more than YOUR system with some add ons) --- I come on strong and have to then prove my words ---- I stopped with babe because it did not appear she was "connected" with her ideas for some reason and so I let it go. Somewhere down the line the truth will out but I think I already have the truth.
btw, she is getting upset because of her continued request for information on the zig zag (which was fullfilled, but i guess she didnt see it and directed her anger towards me)
In truth, now that ive calmed down, this whole thing is much ado about nothing and as long as Im welcome here, I remain here.
enjoy and trade well, using anything you got
mpI would ask that you do not going anywhere. Your posts along with Kamper, Roodstart, Lep, and TRO are quite enlightening. I am finally understanding how to read those Zig Zags with muti time frame usage, price action, and how the market moves during the day. I had my best week trading ( and I have lost a lot in the past). Thanks for this thread and all you guys! I appreciate it!
PS I am still interested in the hedge as well. Just need to get my account back to where it needs to be and improve my primary trading skills.
Chris
Chris
MP and TRO please know that your insights are appreciated. I dont think FXBabe is Old Guard here, but there do seem to be some people with emotional / communication difficulties. Please ignore them - the rest of us appreciate you!
Would you please send a message to newdigital and let him know that.
According to newdigital, he gets a lot of complaints regarding my posts.
Thank you.
mp6140's Tip
Ok everyone,
I'm reverting back to mp6140's tip that was given at post number 17, page 2 of this thread.
I've wrote a couple of EAs based on mp6140's tip but they are all buggy. I managed to debug the error and I'm posting a working one here. I shall delete the previous EAs that are non-working and will point all to this one.
As mp6140 has advised in his/her tip, do not put any stop loss. But if any of you are quite nervous about this, you can enter a stoploss with this EA. Should you feel that you don't want to, then leave it as 0.
UPDATE 3RD FEB 2008: Version 3 of mp6140's Hedge EA can be found on post 287, page 29.
Would you please send a message to newdigital and let him know that.
According to newdigital, he gets a lot of complaints regarding my posts.
Thank you.don't complicate this subject please.
mjramos76,
Sorry for the late reply. I was on holiday.
Here's version 3 of mp6140's Hedge EA. The StopLoss is working now if you decide to use it. If you decide not to use it, set it to 0.
Oh yes, after the EA has opened the hedge at the designated time, do not close the EA and restart it again during the first hour of this time or it will open another hedge automatically.
mp6140, you said you published your second hedge? Maybe I've missed it, but on what page number was that?=========================================
well this sounds wonderful, especially since you can alter the size of the hedge in pips, as the second hedge uses only a 5 pip hedge vs. the original 10pip hedge.
once i lock it down, the new strategy will need to be able to open (possibly) 6 hedges per 24 hour day, but its presently in beta and being tested around the world, and while i have a pretty good idea of what the times should be, Im waiting to hear what happens in Jacarta and Rumania, let us say !
AN IMPORTANT POINT on what time to place the hedge --- I allow 45 minutes before reversal periods which "appears" to be optimum, but for those who like a little "extra" safety, slightly longer would be fine, as long as you realize the drawdown on the opposite hedge will be a bit larger because it will be spending more time as a "negative" !
thnx muchly and will have the hours soon !
mp
"Join the Dots" Expert Advisor
For those who are interested, an EA based on KaMpeR's "Join the Dots" strategy has been written by Legrupo and Saidas of MetaTrader_Experts_and_Indicators YahooGroup. The EA can be found and downloaded from that YahooGroup.
The EA uses KaMpeR's methodology to open a trade, but its exit strategy is currently based on either TakeProfit/StopLoss, or simply by automatically closing it when a new dot appears.
Regards,
Azmel.
Mp -- Now To Try To Bring It All Together !
my original reason for stopping by here was in agreement with the bosses methods, as I use both ziggies and HA candles while working.
given that, I believe there is a bit more to the whole thing, which doesnt alter the original intent of "join the dots", but adds to its RESEARCH abilities !
along the way, a few of you have heard me talk about the LRC and i firmly believe once you understand how it works, you will understand how forex works !
in the attached DAILY chart, the yellow parallel lines are the LRC, which is obviously showing the present trends --- like the bols, a price tends to move up to the top line, where it bounces back to the bottom line. This process can be very quick, or meander along, depending on a number of situations that i can discuss later, once the LRC's are firmly rooted.
please note the SINGLE white arrow, showing the TOP bounce point for GU --- if there were any s+r points in that area, youve got your top already spelled out for you and a longer term trade taken in that direction and with that tp should have been a solid trade !
as you can see, a BLUE DOT and an arrow live at that point and the direction is DOWN, which is logical since the price has bounced off the top LRC. While there are THREE moves of the zigs to get to the BOTTOM LRC, we should have already been thinking ahead as to where the bottom was and been prepped with a tp at that point.
Now we see that the price is heading back up, and golly gosh, it stops and reverses at the top of the SECOND LRC, dropping back down to what we will assume will be the previous support point BUT BEING CLEVER LITTLE TRADERS we cover our short at the previous support and WAIT to see if the price breaks down or bounces at the LRC !
well, now we see the price breaksdown thru the LRC and we can now jump back into the trade, OR we could have watched the downtrend that the ziggies were predicting and gone with them, using the breakdown of the LRC as our firm confirmation !
as you can see, the ziggies predicted well where the currency was moving during the downside move, and were backed up by my little MACD/ma indicator and now we are at the three white arrows, have a ziggie downside showing, see resistance with the lines sitting on the prices head, and assume, although there may be a touch more upside, that we are heading down to greet the bottom LRC again, while we watch the MACD thingie to confirm yeah or nay !
anyway, thats pretty much what i look for when trading, so i get to know where the trend is, cause im the dumb one who doesnt use sl's, remember ?
study it a while and youre simply gonna love it to death !
And while i dont know if there will be any questions, if you want to really be a trader there should be !
mp
MP -- GU and life
VERY SORRY - now i shall act my age !
mp
wheeeee !
mp6140's Hedge EA version 3
Azmel, I'm running the EA you posted earlier and it appears to work fine on forward testing. Although the SL seems to have problems, it appears to be based on a fix price that you would input rather then on # of pips from open price. Can you fix? mp6140, interested in seeing your hedge strategy. please post when you get a chance.
mjramos76,
Sorry for the late reply. I was on holiday.
Here's version 3 of mp6140's Hedge EA. The StopLoss is working now if you decide to use it. If you decide not to use it, set it to 0.
I've also added TakeProfit so you can put a smaller number here instead of the locked 10 pips on previous versions. You'll also need to be aware that some brokers has a minimum TakeProfit requirement. So if this number is smaller than what your broker allow, the hedge will not open.
TimeToTrade is the time for the EA to open the hedge. Set this time equivalent to your broker's clock corresponding to 8pm EST or 1am GMT.
And finally there's MoneyManagement, where if used, the EA will calculate how big the lot to trade will be based on your free margin. For example, by putting PercentageToTrade to 50, it will use half of your free margin to open a single trade (so by opening a hedge, i.e. two trades, it will use up 100% of your free margin).
If you set MoneyManagement=true, then set PercentageToTrade anywhere between 1 to 50 depending on how far you are comfortable with the risks. If your account has 1:100 leverage, enter 100 in the Leverage setting.
If MoneyManagement is not used, then the lot size to trade is equivalent to the Lots value in the EA.
AccountType is as follows:
0 is for standard accounts where the minimum lot size is 1 and the pip price per lot is $10.
1 is for mini accounts where the min lot size is 0.1, and the pip price per lot is $10, for example NorthFinance.
2 is for micro account where the min lot size os 0.01 and the pip price per lot is $10, for example Alpari UK
3 is for nano account (InterbankFX mini) where the min lot size is 0.01 and the pip price per lot is $1.
Unlike previous versions, this EA will open a new hedge when the time arrives regardless whether the previous hedge has closed or not.
Let me know if you have discovered any more bugs.
Oh yes, after the EA has opened the hedge at the designated time, do not close the EA and restart it again during the first hour of this time or it will open another hedge automatically.
mp6140, you said you published your second hedge? Maybe I've missed it, but on what page number was that?
MP, your chart... optical illusion!