walterw

Hi Kit, thanks for contribution, I will take a look at your indi, thought its been a while since I dont use anymore MT4... my core charting program is Ninja at this time... cheers Walter.

Hi Blowfish, thanks for your greetings, yes its been a while since I dont post some stuff here, actually not much research lately, just plain trading so I thought I could do some postings for some weeks... cheers Walter.

Ok let me upload here some videos about this indi... So far the inputs I have programed actually work with EUR/USD... , I will soon post the code here as well, cheers Walter. Momentum 1.swf momentum 2.swf

Ok, lets get started with this little fascinating lady... she is a 3 min chart of EUR/USD with a cybercycle applied to it with a little twitch to the inputs I did that make it pretty interesting to measure from some "lense" how momentum is doing... It can give you an idea of where you are and hope that may continue for a while... now you can see this may resolve only a 30 % of your dilema... let me make a video on this indicator, cheers Walter.

Ok, so here I go... I promised to deal with this non friendly issue and I hope I can bring some light in the dark. So What really is momentum ? well... funny thing, I have come to the conclusion that we always have momentum ¡¡ its just from wich perspective (say timeframe) you look at it that you will determine that you have or not momentum... So that makes it very complicated for most rookies and even old seasoned traders to determine momentum conditions... because its like a very hard to describe fenomena and even its harder when you want to put it in a perspective of what YOU want to do... So the first good thing to understand momentum is to know what are the lenses YOU are using to perceive the market... Because depending on those lenses you will see certain realities that maybe other traders who have other lenses do not see and viceversa... Who is correct ? or who is wrong ? in their apreciation of reality... no one.. Everybody is correct and everyboody is wrong, all routes in trading are good, and all are bad.. :crap: the diference between losers and winners actually its not given by the specific route, rather by the way a trader is objective and has confidence and perseverance on the use of his lenses, after he has detected some sort of edge...wichever it is... For some it may be Volume, for others RRR, for others Momentum, standard deviations, patterns, times of day, you name it ... and so on... So Momentum may be an edge or may not be an edge, still you can be profitable with or without it if you have other certain edge... I hear some teachers get obsessed about momentum, and yes even myself I teach to trade on momentum conditions... BUT eventually that momentum is like a women, she is there when you cant kiss her, or she simply is not there when you are ailing for love... So when she is, enjoy it, she is not, just survive and keep going... My private education on forex is based in momentum conditions, but I have to recognize and now after several years of trading and mentoring that trying to determine momentum can be a big headache eventually, and its not worth it to give that excesive attention... I have discovered that RRR (Risk Reward Ratio ) on any given trade comparing entry vs stop (risk) and entry vs potencial exit (Reward) its the best way to have that "edge" and from there on become confident and consistent with something... even when you know that your method may not be the best out there... but becomes the best for YOU because you keep doing the same thing every other day... So thats my filosofy about momentum, its like love or women... hard animal, dificult (sorry ladies)... but its true, you have to get what you can get and dont desperate if its not there... better you must have a good RRR embeded to your strategy (as the chimp does) and dont be so hard on yourself... Anyway on the next posts I will show you some pictures of this momentum ladies that may get your nerves a little waka waka... they are momentum readings not from my private course and that can be used from any of you guys... For my students, if you guys want to incorporate some of this, just go ahead... so far I personally got to the point of not using any other thing than my multitimeframe method ( private stuff ) Many ask me whats my private course edge, and ethically I can not respond that here on the forum, but I can gladly respond emails. So let me show you guys some nice toys... cheers Walter.

Hi Kit, I had been preety much busy this last two months, with some personal issues, but I promise I will get that thread done asap... I know also many of my private students will enjoy it as well... cheers Walter.

Thanks for so many kind words guys... I will be starting a new public thread on how to select correct momentum conditions... it will also be of help to my private students as well... you can consider this new public thread I will make, a free extention and update to my private course... What I noticed, and also interacting with some of my students, there is a terrible lack of momentum discernment on actual new traders, thats why ANY method, and even the chimps can fail if momentum is not correctly discerned... Unfortunately there is an art to this, but I will try to explain some tricks on how to "smell" momentum, so it can take some light into so many people strugling to be consistant... Trading can be one of the most easy professions, and also for many one of the most stressing and disapointing one... if you are doing trend type trading, momentum discerning will make the diference... If you are doing congestion trading like I do on futures its another story,,, From my private group experience, I had three types of outcomes, those who are making consistent profits because they understanded the momentum key concept, those who are still strugling with it, and those who never interacted back jajaja... (hope they did ok)... but anyway, any method (even mine) will be disapointing if a trader doesnt adress correctly momentum vs congestion... Would you make an outdoor party with a rainy day ? or would you go out on shorts during a snow storm ? NO Same here, method wont work on the wrong context... I continue on the thread, cheers Walter.

Hello Guys and happy new year ¡¡ The methodology works ok when you learn how to discern correctly market conditions : Congestion vs Momentum , thats one of the things I do a lot of emphasis to my private course students, it is important to understand that ANY method, even mine will fail if you dont trade it in the correct context, thats why on my course I try to explain the best momentum conditions a trader should be trading with the trend... take care everyone, cheers Walter.

Thanks Richard for this inputs, cheers Walter.

Hi pakeez , the ultimate method that uses NT its not here, forms part of my private course... I do not compile a method on the begining of a thread as I beleive the entire thread shows the diferent choices a trader has that may adapt to his style... so you can choose wich method and alternative suits you best... cheers Walter.

if you want to have a 30 min rainbow on a 5 min chart, you have to put all the inputs x 6 ... just that... cheers Walter.

By the way, if you guys want to interact here on this thread the 5 min/1 min setup for a couple of weeks, I will be glad to interact here as well... cheers Walter.

Wow¡¡ I see something nice is going on in that forum with some chimp stuff... maybe Blizz you want to tell all this people to come see some videos here at TL and all the threads that did elaborate on this rainbow method... Yes the 10 pips per day idea its a much more scalper oriented one, and uses much smaller ( tick bars ) timeframes to do this... now its very important to have the proper momentum understanding to that... thats one of the topics from the private course... this 8 adx and 2 adx, can you point me what are you looking at ? there is so much done on this... cheers Walter.

Thanks Ligio, glad to be of help.... cheers Walter.

Glad you liked it... I know of many people who are consistently trading with the 5 minutes and 1 minute combinations teached here... I personally developed a more scalper version that its much faster and forms part of my daily trading and my private educational system ... cheers Walter.

Hi Lee, all information on this forum its good enough to learn how to trade efficiently... there diferent aproaches that can be appied dependingt on your personality... ( long or shorter terms, techniques more less agressive etc.. )... some people here have also their own private sites as well... hope you get there, cheers Walter.

I have to agree with Tams.. trading should be done as an extra income activity if you are not professional enough... methods can be very good, but if you psicology is under pressure, you most probably will not be able to make money even with good methods... hope helps, cheers Walter.

We Chimps have a high IQ, thats why we make money everyday... cheers The Holy Chimp .

Since I revamped my studio, so far 22 are doing a good job... I still think that having bigger size would probably represent a fisical problem to stack them and not getting a neck pain eventually... cheers the chimp.

Nice Thread Brown ¡¡ unfortunately for security reasons and due to volume numbers being trading in a joint acct as well I am not able to post here my results... any way I also beleive in accountabilty and thats why I am actually trading in conjunction with some other traders as well... we are in a stable daily target fashion... I know you dont use this fixed method but so far its working pretty well for us... so how candles are doing ? I am doing forex on live trading and I am doing now a new beta stage for futures on ES... one of my clients inspire me to get an adaptation into ES... so far looks nice jajaja... take care buddy, cheers Walter.

If your trading method its not clear, it may happen as you mention this "mood" for the day... where some days you are doing fine, and others you dont get one good trade... in that case its very dificult to manage a daily target... now, when you have a consistent method that does not depend much on your mood, I have proven on my experience it works ok... Most traders have problems with "greed"... and once they did have good gains, then they start to over trade due to their excitement of making profits... here is when you most probably ( if you had a consistent method ) you will get out of your clear trading method and start depending on your "mood"... most of this traders are not able to have consistency in their trading results.. because some days may be spectacular and other days are very sad... this produces an emotional rollercoster and eventually certain uncertanty about your technical trading performance... thats why, at least myself, having daily targets helps me to keep focused in my sound method and not enter in the never ending emotional unstable rollercoster that want let you you evolve serioulsly on your trading careers... I met a lot of traders who some days will end the session and go eat caviar at a super restaurant... at the next day they are on the psichiatrist bench... when you have daily targets all that is history... sometimes it may become even boring.... but your acct will be happy... and thats what this bussiness its really all about, making money, and not necesary amusing yourself... Offcourse thanks God we all traders do not agree in the same opinions, thats why markets exist, but certainly not all traders enjoy the same benefits of their thoughts... cheers Walter.

I want to add my two cents here... so far on the past years I had been trading daily targets and it works very well for me... I also teach that on my private system, because basicly one of the great dangers in trading is greed... having daily targets takes out all greed... also its relaxing and nothing better than EVERY DAY feeling like a champion when you make your day... it simply reinforces your state of mind... it doesnt matter wich method you use, if it has a good RRR in it, you should do ok... trading is a simple endeavor, its just mistified as complicated by does people who never made a dime with it... cheers Walter.

Hi Ronen... I beleive that the best robot should be yourself once you get to trade your own method that works good for you... if one of this super forex robot its having a good performance now... I doubt it will keep working ok from here to one year... automatic systems unfortunately ( unless they are corectly updated ) are born to die.. hope answers, cheers Walter.