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Charger! Good to hear from you! A voice of truth and gravity in a environment of high hopes and lofty expectations. lol Thanks and I do remember! I remember that even the TDI setups are lagging indications and prone to failure at times and I also remember that I hadn't quite figured out the fine details of how to trade the TDI setups even when I gave it up a couple months back. Since then and even now I'm still just adding or doubling down every 100 to 300 pips until my original position gets back to profit and I'm doing so with extremely conservative risk which prevents me from blowing my account via margin call for up to a couple thousand pips. I don't like the small gains but I like the consistent and safe gains. I've managed 25% in a month so I'm not complaining too loudly.
If I had a few thousand to throw at trading, I'd be looking for the needle in the haystack of stinky pinkies and sub pennies but I had to spend it on my daughters truck so I'm back to dabbling in the forex only until I get some credit cards payed off in order that I might borrow against them again to pay for my "investment" hobby. I came across a board on ihub called "Triple zero stocks" and those guys seem to be good at finding the stocks with a share structure and other fundamentals that allow for a potential rally at some point on the masses of riskier triple zero and double zero stocks. I'll be following that board closely as soon as I have the cash to fund my stock trading account again.
My intentions for the future however are to increase my risk once I finally get a handle on how to trade the TDI setups using demo though I think I'll add a sub account to my main account and fund it with a couple hundred to risk on the riskier TDI setup trades. If 8 out of 10 TDI setups are profitable and I keep my losses low enough on the 20% of setups that are failed, then I should see bigger gains percentage wise in my sub account than my primary account. The problem with the losers of course is that if I lose 50% of my current $400 account balance then I will have to make 100% on my remaining $200 just to get back to my original $400 balance. So, I know what I'm up against. Still though it's a matter of keeping the losses low and the winners outnumbering the losers by at least 70% I feel.
You mentioned the TRIX (4,3) crossing above or below the upper bollie lines as being consistently accurate indications of reversals, if I understood you right. I've got your TRIX/BB overlay on my chart with the TDI and I'm going to leave it there and see how it wants to play out for confirming reversal points on SGs "super tunnel". I can't apply the TDI for reversals until and unless I can get my fast lines to match up with pennies and since the TDI appears to disallow settings changes I may be stuck and unable to trade off the TDI. If I can trade effectively with high gains in demo using your TRIX/BB method then I'll maybe use it with higher risk and higher gains positions in a sub account instead of the TDI, especially if I'm unable to figure out why my TDI prints a differently pic from pennies.
Well don't be a stranger. Whether you trade 4x with real money or only in demo you ought to keep a positive mindset to trading forex. Reality based but positive. You've had a lot to offer in creative charting in the past and should as well in the future and I value your input as much as anyones on this board.
Charger! Good to hear from you! A voice of truth and gravity in a environment of high hopes and lofty expectations. lol Thanks and I do remember! I remember that even the TDI setups are lagging indications and prone to failure at times and I also remember that I hadn't quite figured out the fine details of how to trade the TDI setups even when I gave it up a couple months back. Since then and even now I'm still just adding or doubling down every 100 to 300 pips until my original position gets back to profit and I'm doing so with extremely conservative risk which prevents me from blowing my account via margin call for up to a couple thousand pips. I don't like the small gains but I like the consistent and safe gains. I've managed 25% in a month so I'm not complaining too loudly.
If I had a few thousand to throw at trading, I'd be looking for the needle in the haystack of stinky pinkies and sub pennies but I had to spend it on my daughters truck so I'm back to dabbling in the forex only until I get some credit cards payed off in order that I might borrow against them again to pay for my "investment" hobby. I came across a board on ihub called "Triple zero stocks" and those guys seem to be good at finding the stocks with a share structure and other fundamentals that allow for a potential rally at some point on the masses of riskier triple zero and double zero stocks. I'll be following that board closely as soon as I have the cash to fund my stock trading account again.
My intentions for the future however are to increase my risk once I finally get a handle on how to trade the TDI setups using demo though I think I'll add a sub account to my main account and fund it with a couple hundred to risk on the riskier TDI setup trades. If 8 out of 10 TDI setups are profitable and I keep my losses low enough on the 20% of setups that are failed, then I should see bigger gains percentage wise in my sub account than my primary account. The problem with the losers of course is that if I lose 50% of my current $400 account balance then I will have to make 100% on my remaining $200 just to get back to my original $400 balance. So, I know what I'm up against. Still though it's a matter of keeping the losses low and the winners outnumbering the losers by at least 70% I feel.
You mentioned the TRIX (4,3) crossing above or below the upper bollie lines as being consistently accurate indications of reversals, if I understood you right. I've got your TRIX/BB overlay on my chart with the TDI and I'm going to leave it there and see how it wants to play out for confirming reversal points on SGs "super tunnel". I can't apply the TDI for reversals until and unless I can get my fast lines to match up with pennies and since the TDI appears to disallow settings changes I may be stuck and unable to trade off the TDI. If I can trade effectively with high gains in demo using your TRIX/BB method then I'll maybe use it with higher risk and higher gains positions in a sub account instead of the TDI, especially if I'm unable to figure out why my TDI prints a differently pic from pennies.
Well don't be a stranger. Whether you trade 4x with real money or only in demo you ought to keep a positive mindset to trading forex. Reality based but positive. You've had a lot to offer in creative charting in the past and should as well in the future and I value your input as much as anyones on this board.
Ok pennies........so I was able to load the TDI from compassfx site successfully going about it the way you suggested but it's giving a different pic from yours just as my other TDI did. Your TDI green and red lines give more responsive sharp reversal lines vice the rounded slower lines that both my green and red lines present. Your green lines come almost all the way up to your yellow trendline. My green lines are well below. I don't understand it, but it's really pooping my party!!! And I wasn't able to load the TDI you emailed me at all. It loads as a .gif file rather than an ex4 file!
Hey pennies.......I was unable to load your indi onto my Oanda MT4 platform using windows 7 and got this error message when I tried to "save as" "Oanda- Metatrader then "experts" then indicators. The message reads......".....You don't have permission to save in this location. Contact the administrator to obtain permission. Would you like to save in the (username) folder instead?" I am the administrator though!!! Any ideas?
Ah......well would you mind posting a chart when the TDI setup is ready for a short on EA? I can decide whether or not to take the short at that time.
Thanks pennies. I'll see if it wants to appear the same as yours. Please don't hesitate to post any short entry you take on EA though since I'm needing to get back to even on it badly myself.
DOG.....once you figure it out, posting charts is pretty easy. I can't because I'm using my windows computer for my trade account and won't load anything else onto that computer for security sake and use my mac for everything being unable to post charts with it. I was doing great with a second windows computer until microsoft quit updating XP and left me with a useless computer. It sounds like you know what you're going to do extremely well by comparing time frames and keeping stops set and applying SGs super tunnel as you are. I hope to be doing as well at some point too.
pennies.......is it still free? I was at their site a couple days ago and it looked to be a paid for indicator now. Would you mind going to the site and verifying whether it's free or not and post a redirect for the download showing or stating where to click to get the TDI? And can the "Fixed minimum" and "Fixed maximum" be changed under "common" tab on the TDI properties window to change the line settings?
Hey pennies.......right on time with your EA post! I've encountered a HUGE problem though when comparing your 15 minute EA chart with mine. Your TDI red and green lines are different from mine. Where you've drawn your yellow trend line on your TDI indi window, you show the green fast line touching the yellow trend line both from above and below, but my green fast line is nowhere near touching my trend line even though mine is placed where yours is and my green line reverses in the same spots that your does but not nearly the same length. Does that make sense? I just changed the setting on "TDI_Fast" to "on" from "off" and that helped a little but not enough! Help!
simplegreen..........I've applied the 100 levels to my existing 1000 and 620 level chart and appreciate your pointing them out. I'm seeing where with EUR/AUD, at least, the price action does stop at one 10 pip level or another and even if the price stops between the 100 levels somewhere, it's still a great way to count pips until price moves out beyond the first 1000/-1000 level.
Any thoughts as to a good place to short EUR/AUD as it applies to your STunnel would be appreciated.
DOG........I think that if I post a reply or new post to someone on the board using the reply button vice the "new post" message button then the person I am addressing is more likely to notice my post to them. So, I probably won't try to address multiple persons. I think that's what you were suggesting in your post to me.
Glad to see that SGs tunnel is clarifying trades so well for you! I'm still a unsure of how best to trade from it myself. I hope to find your clarity before too many days pass. And even if I do.....stop loss orders will always be advised regardless the confidence in the ST or any other technicals though. Anyway, best luck to you.
Thanks DOG, and I agree.......it's a board of highly helpful higher education in trading forex for sure. And a very good evening to you too! Running out of posts here, but I needed to reply to your good will.
Yep, that worked for me SG.
I've been away from the computer for the last couple hours making dinner and doing laundry.
Question for you here though......are you saying that you are adding a third set of levels using the 100s to the already existing sets of 1000s and 620 levels? And what are you using to determine safe entries at these different levels? I read pennies post where he's using the TDI setups to confirm the entries on given levels. I'm sure you are considering lines of support and resistance and probably candle patterns, but is there anything else that you rely on to increase odds of a given tunnel line prompting a price reversal? I'm a huge believer in divergences using the Stochs, MACD and TDI, but otherwise I'm kind of at a misunderstanding as to how to trade using the tunnel. No rush answering my question since I'll likely be stuck in E/A for another few days before it breaks out against me bullishly in a big way. lol
pileit1.......my Oanda MT4 kept rejecting a second set of 441 MA lines until I layed down the second set using 440 ma vice 441, Upon laying that 440 MA set down with the 620 levels I immediately changed the 440 MA to 441 MA and it stuck to the chart as hoped for. Hope that helps you.
Oops......DOG replied moments before I did. I expect though that either way will get you around the problem.
SG.....that's crazy! Your 441ma is a real magnet to price action on the 1 minute chart! Other than opening or closing positions as the price hits the 441, I'm not sure how to trade off it still, but I'm absolutely intrigued by the way price observes that MA!
It's good that you are enjoying the time off even if it's not a proper vacation in some foreign landscape with umbrella drinks and cool breezes on sandy beaches or whatever...lol
I only have 8 posts left today so I must be sparing, so if I don't respond to a post from you immediately it's not because I don't want to but because I must be sparing with my posts and their content. Oh, and thank you for refreshing my memory on the currency pair location! I hope to have it down now.
SG! You haven't left for a calm and soothing vacation in Hawaii or a wild vacation adventure on the plains of Africa! lol.... Sorry your not enjoying your time away from the job, but glad to be back in touch with you. It's good to be back! When I quit paying ihub subscriptions I had pretty much intended to give up on trading currencies too. And at that time, I figured pennies had become sick of answering all my stupid questions and I was even sicker of chasing my own tail while trading so I needed a really big breather; a chance to pull back and reexamine forex with it's challenges versus it's profit potential AND to realize the addiction that is forex. I must admit that reading your posts on your "super tunnel" and seeing pennies posting his mostly consistent gains prompted me to consider doing more than trading the major weekly swing levels.
Now I attempted to bring up your E/NZD chart but found that I don't have all the different pairs available to bring up in my Oanda MT4 demo platform. Pennies once told me how to access all the different pairs but I've forgotten as the months passed by.
No need to apologize for the photo bucket issues. I do better with visuals than with written descriptions but once I am able to locate all the pairs I'm missing, specifically EUR/NZD then I may be able to get what you are saying by looking at the 1 minute chart from my own MT4 platform. I'd definitely love to see more annotated charts from you but I understand your time limitations. I'm "retired" and I still have demands on my time that are inconvenient and irritating a lot of the time, and can't forget how precious free time was when I was a member of the working force which I may return to myself once my youngest starts high school. I'm retired but far from what one would call independently wealthy!
Pennies.......I can't short A/U anyway as I'm stuck in E/A and still under by 200 pips on it at this current price, but I wanted to point out the ascending bullish channel on the 5 and 15 minute A/U chart allowing for a potential bearish reversal at some point but ask you if there was some reason for your taking that short position based on the TDI, 'cause I just don't see it.
It would benefit us all if you would post charts on your failed trades with annotations explaining exactly when the trade failed and why when observing the TDI versus price action and other technicals that would obviate the begining of the trades failure.
And I'd like to get back to even on E/A as soon as possible so I can quit waiting for the next 100 plus pip move against me in order to double down. I don't want to double down at some standard number of pips but rather when a good TDI reversal trade has presented itself. If you see it, would you mind posting the next good short position setup on E/A?
If I'd seen this latest 50 pip drop forthcoming, I could be back to even on it now btw. And I should have based on TDI to price action divergence on the 5 minute chart.
Ok, you summed up my suspicions! That's enough for me! I should mention that you used to stress trading with margin risk that allowed for 1000 pip moves against the entry to prevent margin calls, but I've been thinking that if a person is 80 plus percent successful and closes out the losers early for limited loss, then the gains have to outweigh the losses and considerably so, so much so that heavier risk can be tolerated and even recommended. In the past my problem was always being able to determine the real point where the chosen and specific TDI setup had failed. That plus I hate locking in losses. I'm hoping that I'm going to better know when to get out and even where to set an auto stop loss mark upon entering the trade based on the TDI setups.
Thanks for the welcomed return pennies! This last week of spinning my wheels with E/A plus seeing how well you are still doing prompted me to consider changing my trade method to trading the way you do again. I'm doing ok as always, but missing out on all those 30 to 40 pip gainers between all the double downs. I traded that way for conservative safety, but now am wanting to try trading with you on those TDI setups. I have a question for you though..........out of 10 trades using your TDI setups, what would you say are the percentage of losers versus winners?
Simplegreen..........I read your post where you said you have the week off on vacation and since you haven't posted again after that, then I assume you really are on vacation. I was hoping you were off on vacation to post more charts on your "super tunnel" to tell us all how you trade off of it in finer detail, but everyone needs a vacation from everything every once in a while. I know I needed one from trading forex a couple months ago. I'm back though as I find charting and trading a really fun hobby. The fun disappears though when I compartmentalize my gain calendar and feel I'm falling behind schedule. Then it becomes a job and dark cloud. So I'm back trading but with a much more positive attitude.
Pennies........I'm not a paying ihub member anymore so I can't pm anyone anymore, but I just couldn't resist checking back in as a "free" member after these dozen or so weeks to say hey and congratulate you on your more frequent than not trade successes. It does give others like myself hope that they too can get ahead at the forex game in the long run. With only a few hundred in my account now I have a lot of ground to cover before I can lay claim to any sense of financial independence. And unfortunately, I found myself having to put a new engine in my oldest daughters little truck or I'd have a few thousand more in my account. Fortunately I am up 25% in my account over the previous months balance simply by shorting E/A and doubling down every 100 to 300 pips but now I'm at a bit of a standstill with this shallow trading on E/A over the last week. Anyway, I'll be checking in now and then as before though not posting as much as before.
The more eyes and alerts the better charger. We'd be doing ourselves and each other a real service if we could watch a few pairs each and alert others when they meet the setup requirements. I'm calling it quits for the day but will be back on it later on tomorrow morning.
Not sure charger if it's because we've all already tested other posters ideas or because we've all got our heads on one thing at a time and are choosing to focus only on that idea at the time due to time constraints or what our perceptions are at the time. My attention is on boca's method of trading off the TDI extremes as his winning trades to loser trade ratio got my attention peaked and that's all I have time to focus on. Today I haven't been able to give his thing the attention I wanted to and tomorrows going to be busy too at least in the morning.
Oh ok.....well I'll let you know if I come up with any "tweaks" of my own. Not likely to but right now my primary focus will be discovering other indi combo signals that can help show where the chances are reduced that the TDI parameters will play out favorably. For now anyway.
Sorry, got distracted and I'm making dinner too.....
Ok, I got the lines then.
Agree about the volotility working in our favor to reduce time spent with each trade overall.
Boca........I spent the day removing and hauling off a couple twenty five foot pine trees from the yard so I haven't been online to catch up or remind you to tell me what the lines or trendlines were that you are adding to you TDI indi window.
Also, not bucking the trend by checking price action to quad tunnel on the 4 hour ought to help. I expect that it won't work as well when the price action bounces up and down through the tunnel as was happening with AJ during last week of Feb and first week of March but it should make a difference in the long run and most of the time.
What were the other "tweaks" to your "system" or method that warrant mention?
Fwiw, if ten pairs are too many for you to watch conveniently, I'd be willing to watch half of the pairs and give alert when your setup occurs. I'd like to give your system a chance over the next month or so and see how well it works or how well I trade from it. I'd let you know when I wouldn't be able to watch charts certain days so you don't miss a good trade btw.
Seems to me that to backtest anything chartwise is to go back to a day or multiple days of highest volotility like May 6, of 2010 where AJ for instance dropped 860 pips that day from open. Just to see how the technical setup of interest would pan out on those dramatic price action days and then go to low volotility days to see if there was any real difference in how an indicator setup would play out between the volotile and non-volotile days. I'm assuming that low volotility days allow the tech setup to play by the rules but the high volotily days change the rules. Don't know but I'll be looking back to that day specifically myself later today. Ok, got to get busy here removing a couple overgrown pine trees from the neighbors lawn so I can kill the trees roots in my own lawn, but I'll be back on later at some point today. Have a good day all...
Morning charger and all......my favorite is when the green line crosses the red line above or below the bands. Unfortunately it can occur a couple three times before price is ready to reverse. That's where waiting for boca's TDI requirements to be met are best. But even that is not a sure thing. Scrolling back through AJ on the 15 minute chart this 20th of March you can see where both red and green lines were above the 76 line on the TDI and the TDI bands as well and even the market baseline was above 57 but the price only moved back down some 15 pips before charging up again another 60 or so pips before the reversal occured. Now as the market baseline moved up closer to 76 than 57 and the green line crossed over the red line once again at the top bandline, then the reversal occured causing me to think that 76 might be the magic spot for reversals when the TDI baseline finally gets there on the 15 minute chart. Need to spend more time backcharting that thought though.
Will do.......need to get going here myself. Talk to you all later.
Boca......what trendlines did you add to your TDI indicator that you mention in this post?
I think AJ meets your TDI requirements right now boca. I'm already short from yesterday and am remaining short.
I've set my TDI levels at 76,57,43 and 24 to allow trading both directions depending on where the TDI rsi line and market base line is at. Unfortunately if I change time frames I lose my settings. Just another time consuming inconvenience.
Right charger.......so you either have the pick of the litter or if you're not maxed on leverage with each trade, you could hedge by trading more than one pair at a time using that strategy. I too appreciate his sharing his method and progress!
Sorry stargate......I don't know where I saw chargers membername in your post. lol
There's no doubt in my mind charger that the brokers will sacrifice the retailer any chance they get legitimately or not. And some brokers are definately worse than others! Just have to be able to survive the trades you are in when they do stick it to you. And since it's not just the brokers who are playing deceitful and predatory behavior but the governments are as well then we as retailers must be able to survive those 1000 pip moves against us when no pullback is timely or available to us either because we are asleep or our internet is down or for whatever reason. We must be prepared for 1000 pip moves against us at all times. Therin comes the challenge in the long run.
Agreed charger.......overbought/oversold signals which can have little effect on how many more pips remaining there are before the signal is proven out. Same for the larger time frames but there's so many more pips to contend with. That's why I'm considering the hedge account. Take profits on the first of two opposing positions on the same pair after racking up a couple/three hundred pips and then begin adding at the forthcoming reversal signals on the open losing position. The gains are locked in from the winning position in the one account and then it's just a matter of working out even or profit on the other postion in the other account for those larger time frame trades.
I'm not ready to assume the worst for boca's system thought since he's had it work 2 trades in his favor to one trade against him. Maybe the PAC or quad tunnel and or other things like your pinchers can be tied in for increasing odds on any given TDI trade on the 5 minute or maybe something totally different. I'm just sick of staring at the screen and not making a mint as the brokers do. That's where I'm at. Not ready to give up totally though just yet. And boca's got my interest peaked again for daily scalping.
Is anyone else here trading with boca's TDI parameter based system?
Boca......it may be worth mentioning that with each increase in time frame from 5 minute to 15, or from 15 to 30 minute, there are even more pips of slack to cause greater losses when your the TDI signals fail so I think that the 5 minute chart is the best time frame to trade from for sake of trading more frequently with your winning trades outnumbering the losing trades and for maximising gains and minimising losses over time. Just my thoughts.
Based on how I'm understanding how you trade using that system, your entry was a very good one then. So your error in whole was simply not sticking to the 25 pip stop? Is that right?