My New Day Trading System-rate and test - page 11
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Hi all, thought I would drop in this weekend to see whats a happening.
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Quoted from Cy.
I think maybe what Mike meant about the MTF William's was having the one hour overlay on the 1 min? IDK though.
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I must be getting old, I would never have read it that way. I am assuming Mike was talking about the Williams Multi Currency Indi??. Modified version below with chart. Self explanatory.
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I'll start the ROC scalping thread tomorrow, I'll post the link here.
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Okay. I am looking forward to your technique.
*******************************
We should test them all in relation to the system and come up with a filter.
*******************************
I have been at it all weekend and am combining what we are using into a singular set of indis with my clear version of a strong signal. This is nearly done and I am very pleased with what I am seeing.
Will post indi set soon.
It will all be based on the new ROC Ribbon/indi pane. Pic below which in my language tracks the herd(Green Red) against the SM(Blue Maroon) using the same engines we have been using displayed in a user friendly way. Perfect filter for the Williams 2000 idea and superb for scalping. I have seen every reason not to take past W2000 trades as well as those good on the second bounce.
Have a look at where the USDCAD trade was. The buyers were sitting there since a day ago in blue. Now the herds taken it too far. I am sure we will see a bump up then a retrace next week.
This ribbon combined with a finer entry signal on the separate ROC indicator should be sufficient to go forward.
Many thanks to Mladen who's colored MA sparked the idea of a ribbon. https://www.mql5.com/en/forum/178821
Cy, you really should get your hands on a book you can download for nix that Mladen was talking about regarding value pockets. Fantastic.RapidShare: 1-CLICK Web hosting - Easy Filehosting
Modified Indi Below and Pics.
Cheers for now all.
Hi all, thought I would drop in this weekend to see whats a happening.
*************************
Quoted from Cy.
I think maybe what Mike meant about the MTF William's was having the one hour overlay on the 1 min? IDK though.
*************************
I must be getting old, I would never have read it that way. I am assuming Mike was talking about the Williams Multi Currency Indi??. Modified version below with chart. Self explanatory.
****************************
I'll start the ROC scalping thread tomorrow, I'll post the link here.
****************************
Okay. I am looking forward to your technique.
*******************************
We should test them all in relation to the system and come up with a filter.
*******************************
I have been at it all weekend and am combining what we are using into a singular set of indis with my clear version of a strong signal. This is nearly done and I am very pleased with what I am seeing.
Will post indi set soon.
It will all be based on the new ROC Ribbon/indi pane. Pic below which in my language tracks the herd(Green Red) against the SM(Blue Maroon) using the same engines we have been using displayed in a user friendly way. Perfect filter for the Williams 2000 idea and superb for scalping. I have seen every reason not to take past W2000 trades as well as those good on the second bounce.
Have a look at where the USDCAD trade was. The buyers were sitting there since a day ago in blue. Now the herds taken it too far. I am sure we will see a bump up then a retrace next week.
This ribbon combined with a finer entry signal on the separate ROC indicator should be sufficient to go forward.
Many thanks to Mladen who's colored MA sparked the idea of a ribbon. https://www.mql5.com/en/forum/178821
Cy, you really should get your hands on a book you can download for nix that Mladen was talking about regarding value pockets. Fantastic.RapidShare: 1-CLICK Web hosting - Easy Filehosting
Modified Indi Below and Pics.
Cheers for now all.That ribbon indie looks great brookey! I can't wait to test this. Thanks again for the work you are putting into this. It looks like we have a good shot at being profitable here.
Market's waking up
. I think I'll get started on the ROC thread.
big thanks surfer, if I PM chat with you much later, I got a rain check -- I go with the nickname of boedihard in some other common forex chat
how I use it -- I dunno
Where I put it -- in this template >> I probably schedule a time slot in June to test it out -- could have some Q afterward
my approach of testing is usually -- manually entry (pure technical)
observation --> Universal Sign --> testing the Sign --> Adjust my Freq. of Entries --> 1 to 2 entries per ZZ turn ( HABIT : I use 30M and have to be a female turtle, rather than a male rabbit --- >> 30M becuase just too bloody lazy to change TF myself)
let you see, How I did put in the 30M TF of EURO-JPY
but I got a hunch -- it does repaints (but I will put some LABEL number around the BIG-9 to Confirm what my hunch suggest ) -- in the enclosed digs -- all the other indicator does NOT repaint -- only the color candle might repaint the color after 2 more candles -- take me a long time to adjust the parameters of that candle to be in sync with what banking traders are Playing this year -- so it got kind of Forecasting Ability -- i.e. the blue / red is not change color AFTER U-turn is detected types, not at all-- a bit proud with that input parameter fine adjustment
S~A I think as a forex trader, you can choose 2 arsenal
one is fishing Stick, another is forest wooden branch Y-shape hunting tool -- i.e. hunting in the forex forest, you will allow to pick one arsenal before each ENTRY, you must know which one to pick
like my clean template ? enclosedHey Triple X,
your set up looks interesting. The TD sequential does not repaint but there is nothing stopping it from being wrong.
Here'sthe link to the new scalping thread. Any ideas are welcome.
I'm looking at EUR/USD right now. there's a short developing atm. I'm trying to decide on whether or not i want to trade on Sunday. Long term resistance is at .51. If it can punch through that I think it's going to fall pretty strongly.
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Thanks for the Elder book Brookey, it looks really good
.
____
Update:
Entered at 9:21 Pm.
-9:27, price falls right through to .38. Unfortunately I was slow to enter. I got in around .45.
-9:29, price is sitting on long term support. This is it..if it can break through we could be looking at a big move down. Flip side is it bounces back up.
-9:44, price is hovering between .36 and .33. The stall in the fall is a bit of a cause for concern. I like the resistance above us but the short term resistance is untested. I'd hate for it to retrace all the way back up to .50.
-9:48, price falls to .23.
-9:53, price falls to .16, the 9 from the TD sequancial goes off and the price retraces to 23.
-10:03, the price is hovering between 23 and 18. This is the hardest part of the trade. You've made pips and you can walk right now...do you stay in, waiting for more, or do you take what you've made?
Well in this instance I decided to close the trade with 15 pips in hand. I'm pretty sure it's going to retrace at least to .30 and I prefer to come at a fresh trade tomorrow instead of going for the full monty here.
Here's the exit. I got out around 25, not 14. Just took the pic late.
heheh, long time ago -- I got a 9 story
once upon a time
when young genius prodigy on TV -- can do adding very fast
== without a calculator ourselves, how could we figure out , what is correctness statistics for their answer
--------
say , any addition multiplication
11
+ 88
------
99
the genius (as an simple example , I long they can do everything include long division, without number - abstract maths alphabets)
we try to consolidate every ROW === and in my SMART brain, I make it become ONE digit-- eventually
i.e.
11 [ 1 + 1 = 2]
88 [ 8+ 8 = 16 them we want 1 digit 1+ 6 = 7]
=====
finally 9 +9 = 18 while 1+8 = 9
+++++
we just have to check
(as an TV audience)
whether 2 + 7 , is it 9
----
for decimal place -- it is 88.88% certainty , if 2 +7 = 9 (see above), that can do deduction and multiplication too
--- then I think for hex number , 16 digit, woah, this method got 9x% correctness
=== and I think of this (9 -- you will get 1 2. or 8 , 9) this 9 method, if I apply the CONCEPT in pacific ocean optic fiber cable , Routing -- Checking correctness, it could be a non-smart but everyone understand method
conclusion 9 is an important decimal number
[non related discussion -- just like to play with maths stuff]
Hey guys,
Brooky's great predictive indicators seem to suggest that the price is going to go down, at least in the short term so it will be wait-and-see with this one on whether it gets triggered or not. I'm not 100% on how these indicators work yet though so I could be wrong.
EDIT:
Actually the rainbow for the 1 hour AUD/USD chart seems to suggest that there is room to move up. If I'm reading it right. The William's 2000 on the 1 hour chart is upwards of -20, which is great
.
Now we play the waiting game...
Down then up I would think.Buyers and sellers around. Dangerous flat line day. Time to pull out the Stoch I would think. Nailed 26pips Y/day with the system. Small but sweet.
Cheers.
PS:
AUD has interest rate announcement as well. Thats when we will see movement.
Hey guys,
New day, new trade. Looks like there is a potential long on AUD/USD right now. It's just below the trading zone atm but there is a nice bed of support right beneath the price. Best of all is that the only long term resistance is right where the price would be at the trigger line (-40). That's what I like to see.
Brooky's great predictive indicators seem to suggest that the price is going to go down, at least in the short term so it will be wait-and-see with this one on whether it gets triggered or not. I'm not 100% on how these indicators work yet though so I could be wrong.
EDIT:
Actually the rainbow for the 1 hour AUD/USD chart seems to suggest that there is room to move up. If I'm reading it right. The William's 2000 on the 1 hour chart is upwards of -20, which is great
.
Now we play the waiting game...
There is also a short developing on USD/CAD but there is long term support in place every ten pips or so I'm leaving that one alone.
EUR/JPY is right on the trigger line for a short atm but there's just too much support to make it worth the risk. The currency pair doesn't know where it's going atm and neither does anyone else. Now, that being said, it might fall 100 pips, but better safe than sorry. Imo the AUD/USD trade, should it trigger, remains the most attractive candidate.
The second image attached to this post is the EUR/JPY trade. I just want to show how to read the Money Map. See how there is support below the price (green numbers) and resistance above the price (red numbers)? This is a clear indication that neither the bulls nor bears are dominate right now. This is not a trade that you want to make. Compare this Money Map to the situation on the AUD/USD above. Note that there is only slight resistance to the upside and that by the time that the trade triggers the price will be at or above that resistance anyway.
Not so with the EUR/JPY trade. You would be selling into support on that one.
Update:
The EUR/JPY short signal did as expected. It fell about ten pips past the trigger line and then hit the support. It then soared all the way up to -40 and is still moving up. Glad I avoided that one.
Sadly the Aud/Usd trade is taking a long time to develop. The support has held it up for a long time but now the price is sinking down, so we'll see. I still like the long if it comes about.
10:24 PM:
There is a potential short developing on NZD/USD. I don't love it as much as I would love the AUD/USD trade but it can't be ignored either. There is patches of support below where the trade would be triggered but if you look you'll see that there's a good gap between each major group. If it were to break through the long term support at .76 it would have a clear path down. The question is whether it's worth the risk.
In poker we use the concept of 'pot odds' to make decisions like this. You take the total amount of the pot at the time that you have to make a decision and divide that by the amount you have to call to stay in the hand. The bigger the number the better.
Well, here the 'pot odds' aren't that great. They aren't horrible either though. I'd say the set up is a bit better than border line. I've attached a pic.
If you look at the chart you'll see what I mean about the support being 'weak'. There is a 20 pip gap between where the price will trigger the trade and where the next major support is.
Update:
I've decided that I wont be taking the NZD/USD trade if it triggers. I like the gap in support, there just isn't enough volume to warrant thinking that the price will move enough to justify the risk.