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What price did you go long on EJ boca? 121.8/9?
Ok, I did see that post but wasn't sure if that was the full of the system or your first post describing your system.
Now I do know that even with the RSI on the TDI above 76 and the market indicator above 57 as you say, the price action can just continue to go on for what seems like forever. Same with all indi signals! I've spent the last couple years of my life staring at charts to find that nothing works consistantly whether you are talking divergence, fib levels, pivots, candle formations, ADR levels, lagging indi overlays or anything. So what I'm looking for is high odd plays with specific exits when the system is failing on a trade but with the winners outnumbering the losers.
I've been considering hedging with a sub account on Oanda too. That way when I'm wrong on my entry, I'm still right. For example, take a trade based on best judgement and take an opposing trade in the sub account. When I gain a couple/three hundred pips in one account then I TP the trade and begin adding to my losing trade every 100 pips or so. I haven't worked out the details adequately to begin trading that way and I still need to see 10% gain average on my account balance for that method to work, but I'm still scratching my head over making it work.
So what are your tweaks and how many losing trades have you had today using your system? What pair(s) are you in today btw?? I know that AJ is fairly extended on the weekly/monthly chart, so I'm thinking we may see some steep pullbacks on the the lowest and highest time frames for the yen pairs. AJ is approaching the 88.6 fib level on the monthly chart and is 1500 approximate pips above the ema 62. I would expect to see a 1000 pip or more weeks worth of pullback on AJ in the next couple three weeks. Fwiw.
Boca......I haven't quit trading forex, but I've pulled much of my account balance and am trading with only $500 now. If I can find a system that brings 10% gains a week or more, then trading with $500 will be great to start with anyway. I was only down a couple hundred on my $5000 starting balance, but I didn't want to see it turn into a few hundred or more in losses before I found some consistant system of trading. I've just gone through your posts on your sytem and I'm not sure I get exactly how you trade using your system. I may have missed your initial post explaining it too. If you are getting 2 winning trades to every 1 loser, and making 25% a week on your balance over the last couple weeks then I definately want to take a good look at your system. Could you redirect me to the post explaining your system and give specifics on what your risk is on the trade, whether you add every so many pips when the price goes against you or if you simply enter and set stops and let the play prove out a winner or loser or what?
Well charger....if I can't turn things around trading forex pretty quick, I may be returning to stocks myself. Thanks for all you've contributed here which has been a lot. Take care and best luck to you in your return to trading stocks and options!
He does have the talent whatever07! And he is deserving of respect for his contribution to TA in charting. I'm glad to see him roost here and wish him well over the months to come as I do myself.
Thanks jav. I have a feeling that noone else does either which makes me wonder why in the hell I do! It's irritating me in a big way too!
Does anyone else log on to simplegreens site with an https: secure log on at first only to have the site page revert to http immediately upon logging on?
Hey charger......I too think there is something to it. It's no holy grail, but I've been following along and I'm really liking what I see for identifying trend reversal entries from it! Through backtesting I can see where your PPO/smoothed HA crossover won't do so well in some consolidating conditions where other indi setups don't work well either, and there can be some slop in price action between when the crossover occurs and the move actually begins, nonetheless it's looking highly promising for locating tipping points from tops and bottoms of price action on the larger wave trends. I'm looking hard right now to see if bollies and RSI(10) 50 line crossovers and ema5/ema10 crossovers will help fine tune entries and exits. And I'm liking what I see there too. Off topic....if noone ever told you, alcohol is hell on the liver and everything else in your life long term. Please take no offense as none is intended, but with only goodwill offered......take it easy on yourself! Besides, you're going to want to be in good health when you go to spend all that wealth you aquire trading forex over the next couple years. It definately could happen.
On topic again....I want to mention that there was 60 pips to be made shorting AJ on your PPO/HA smoothed crossover using the RSI(10) crossing down over the 50 line to help confirm the short and a ema5/ema10 rollover as well to help confirm. I locked in 20 pips of that as I was late in discovering the setup. And that was using the 15 minute chart! I think the 1 hour will prove most befenicial for identifying the longer term wave reversals while the 5 and 15 minute charts will be most beneficial for fine tuning entries and determining the value of the 1 hour signals. I think anyway. Note that a "V" shape on or very close to the 50 line of the RSI(10) line will nullify or delay the trend reversal signal and that these "V" shape RSI line revesals will occur on lines of support/resistance. We're not there yet but we're getting there charger and I think we're getting close. With all the years we've spent at this we deserve it too! Let me know what you think of the RSI(10) and EMA5/10 crossover signals as further confirmation or caution when paired with your PPO/HAsmoothed crossover setup. Finally, see my 15 minute chart below to get a picture of what I'm talking about.
Started doing it yesterday SG. When I go into favorites drop down menu and click on your site log on in the list of favorites, I get a "do you want view only the webpage content that was delivered securely?: and the following address comes up in the address window. Once I click either yes or no I'm redirected to the non-secure page that I've always seen. https://investorshub.advfn.com/boards/login.aspx?redirect2=boards%2fhide_ibox.aspx%3fboardid%3d5392
Hey SG.....since when was your site a secure log-on? I get a secure log on window and then when signed in your site is regular http: again. That's not right is it? I don't even visit other sites with this computer so if I've been "hacked" then it doesn't make sense.
I don't either. I'm sticking with the short unless it breaks above that trendline on your chart. Don't want to get stuck holding short if it's going to be moving up to retest the 148s.
Looks like it's going to take a while if it happens at all.
Very good what. I'm just hanging in there with it for better or worse.
I've decided to take another stab at a short on GJ with a tight stop per your chart here whatever07.
Ok, took the hit on GJ closing out before going to bed and I'm now long GU as of a couple minutes ago. See if I get this one right as I see a potential bounce off a weekly line of support from it's descending channel. See what happens...
Did you get another fresh alert on your GU long boca?
Wish I could say I didn't have any open right now. Wait and see, wait and add probably.
I saw them......but this was what meant the most to me "Same here. Remember that flag is on a four hour timeframe. It can go up plenty and still be a bear flag.". Thanks for the mention though. If I have to add later I'll have to add. I hate adding to a losing trade though.
For your sake I hope not. eom
Predators of the worst sort eh boca? LOL
I wish you good luck in whipping that monster. If you do, you'd do extremely well. Those were and still are my thoughts. If I ever really get to the point where I can get consistant gains over losses and begin making big gains, I'll revisit GJ in a serious way. For now, I'm just trying to get out of it's path unscathed.
Lol......I would think the cost alone of shipping those zimbabwe dollars would wipe away any profits. Pretty shady on SG's part if you ask me. lol...
Those were my thoughts as well Joe, as there is so much to be gained when you are on the right side of the trade and the gains can be obtained so quickly if you hit it right, but the fear of large losses based on those same characteristics got me thinking I might be in over my head trading GJ alone as a bread and butter pair. I don't like being out of a comfort zone and huge loss potentials take me out of that zone.
Sounds about right to me but I wasn't sure. Maybe SG and pennies can add to the discussion.
I know it boca, and we'll all have a different perspective at times with any given pair, nonetheless if we can pick the best pair offering the best carry interest and the least amount of potenital damage in event we're caugt in a bad trade as would be the case with GJ, then with fib boxes, and price action alerts and wave counts etc, maybe even alerts from your program, we might all find ourselves ahead in the long run. Just because we are all givnig input doesn't mean we all have to take the trade either. We can still be picky and choosey for our entries on that pair.
Is that the only pair with long carry interest? eom
Ok, thanks! I'm stuck short on the damn pair and just can't seem to leave that pair alone. If I don't quit trading that pair I may discover how much beast is in the beast. Which brings me to the thought that it would be advantageous for all us regulars on SGs board to pick one pair and focus soley on trading that pair giving alerts to the rest of the board along with supporting charts and info as to why we might be long or short and help maybe find a group agreement on that one pair so we can all potentially maximise our gains and minimize our losses. I think all yen pairs would be out but I'm not sure what pair I'd want to stick with long term for trading. Or we could even change pairs as the one pair we are focused on is in a really risky price area on the weekly or monthly charts. Just thinking....
Are you getting a buy or sell signal on GJ btw? eom
How long have you been using it boca? Would you say it's signals are 90% accurate or better for 25 pips gains from the time the alert hits to the time the alert changes against your trade or you make profit on the alert? If so, then a guy could make 5 to 10 trades during waking hours based on the signals from your program and as long as stops were set to prevent big losses on the 10% losers, then the 90% winners would give that 25 pips of gains per day you are talking about. Or a lot more than just hte 25 pips.
Oh ok......just wondering if you could use it's signals from multi-time frames to help give strength the signal given on the 1 hour time frame. Or whether it would make for fine tuning entries after the 1 hour gives it's signal, for instance you get a long signal on the 1 hour and then wait to get the same signal on the 15 minute and 5 minute before takng the long. Maybe not a question worth pursuing though as you might get failed signals from all time frames. Just curious.
Thanks boca......now you can only get chart interpretation signals on the 1 hour time frame only? Is that right? And how often would you say that its buy/sell signals are accurate for winning trades signals versus losing trade signals neverminding the fact that the move may be nearing an end before the signal appears?
Wait SG, and nevermind.....I don't want any copyright issues if this guy is selling the thing now. I'll take a file copy of your heatmap though if you don't mind pm'ing it to me.
Good afternoon to you SG......talk about a lagging indicator.....that heatmap gave two bright green bars begining with that final long bullish candle which set the top for the following months worth of price action. Sure wouldn't want to go long based on those two brightest green heat map bars. I'm wondering though what could come of multiple heat map windows with different indi overlays in each window ie, TDI, PPO/TRIX, Inverse Fishers Transformed, or whatever the trader chose.
If you can pm the MT4 trade sim I'd be interested in running it.
I remember the heat maps SG and I remember having 4 or 5 of them with different settings for an overlay effect. I was unable to find anything that gave me the comfort zone I desire to place a trade, so I haven't looked at them for over a year now.
The reason I'm a bit interested in the sniperforex program that I posted from youtube earlier is that it is in part volatility based and I'm thinking that it might add a different but meshing perspective to the MT4 chart setup I'm using. I'm not sure if the heat map indicator program is incorporated into the sniper forex program or not as heat map colored price data, but could be.
Please do! eom
LOL!....eom
Having watched that video that I posted, the guy scrolled through quite a bit of hours worth of time frame and past history on that platform and of all the buy and sell alerts, only one of the solid strong alerts would have provided a bum trade, but even it was only a bum trade if you stayed the trade and ignored the upcoming fresh new strong alert in the other direction which offered a huge amount of pips. So, the one false strong buy signal would have been a huge loser if you entered the trade, shut the computer off and ignored the upcoming equally strong sell signal.
This all comfirms my observations that if there is an "idiom" as "da chief" offered up to us in an empty, unsupported gesture of lordship, it's that everything in forex is a headfake and you have to continually view the charts in expectation of the next forthcoming headfake. Most every trendline is briefly broken to get the retail traders comfortable with a breakout before pulling the rug out from underneath them and continuing the trend. Most every fib is compromised briefly with enough pips to give the illusion that the fib level is not going to hold price. Most every bounce is tested and retested with new support broken briefly and presented as resistance and then that broken to shake out the majority for maximum gain to the broker I'm assuming. You notice I said "most" every just to help keep the masses uncertain and at a disadvantage.
Well now I'm curious about both yours and the one in my posted youtube video. lol Thanks for clarifying boca!
That's pretty much what I expected to hear boca, but it does still make me wonder if it might be worth the $500. Watching that vid presented two questions in my mind, the first being "how close to a bottom or top of a price reversal whether only 20 pips or 100 pips would the sniperfx give a signal to enter long or short?" or in other words, how much slop is there (little to much I'm guessing) in the entry alert to the sell alert, giving that you can either exit on the volotility block or when you get 3 columns of reversal color. The second question is how many good trades versus bad trades would the system offer. It might be a really great way to help solidify confidence in a trade that we might take based on our own charting perceptions. I don't know, just considering using the thing in tandem with my own fibs and trendlines and TDI etc. I just don't want to waste more time and waste a few hundred dollars on a mediocre program. It is 1 hour only though huh? And that is the same program that you were referring too, right?
Hey boca.....what can you tell us about sniperforex? Is it a program without candles or bars but rather columns of green and red numbers which show volotility and "down"/"up" and "buy"/"sell" trade entry signals based on "knots" in the yellow star column, and corresponding four columns of red or green numbers, etc? I'm watching a youtube vid by "Lifestyle Trader" titiled "Sniper FX Explained" and I'm wondering if it's the same thing you're talking about.
I'm also wondering how much it costs and if it's worth a crap, especially if used in tandem with our own personal trading knowledge of fibs and price action and trendlines etc. I'm wondering if it might help give an edge when balanced with our own personel trading skills. Here's the youtube vid I'm referencing.