walterw

Today I will post an offline flip (did not trade)... I had been doing M`s lately with my old method, but I have to confess flips setups are much easier... so I will try to keep posting here my flips on the coming days... so far I am following YM on a 55T chart with a keltner exponential 100 / 1 and 2.5 atr, on the cci you have cci 14 and cci 6 for turbo... From all my last research in futures, flips are the trades that have something special on being easy to spot... and sometimes when you feel a little lazy to be making too much algorithms on your head this is one setup that gets me relaxed... compared to abc`s the advantage flip has its that there is not so many amount of signals, abc`s can eventually make you overtrade... M`s or lazy trades is for oldies an there are so many subjective perception nuances that I really fail to post here objectively on this trades... it is a type of trade I think should be thought on site... lol... now flips are easy and straight forward, and for me posting here helps me a lot as I get to see my mistakes and my good performance as well, and if someone at the same time its following this simple method, I hope I can help and please feel free to share some charts here... cheers Walter. PD: at this point I am only using scalper exits "The Exit"... with re-cross of 50 levels...

Yes Cooter, actually I really did not understand much what you posted at that time because I am very new to forex... but yes thats the concept really just like you posted there... I think these levels can not be dismissed by any serious forex trader... they are pivotal... cheers Walter.

Hello dear fellow traders, today is monday july 2... and it has been so far an interesting day to see how FHR trades worked... I must mention here some aspects I had been taking into consideration about our FHR trades till now... we are taking the Range of the hour previous to London open.... now, this hour happens to be the first hour of session from Europe, wich opens one hour earlier than London, thats why generally we have an important range... and when you have such an important range, breaking it may mean a lot... thats why so far I am impressed to see the flips that happen on this levels once broken... I attach todays usd/jpy and gbp/usd 1 min chart... cheers Walter.

Hi Tasuki, can you expand a little more on this gap concept ? how do you diferenciate professional from amteur ? thanks Walter.

Hi May, welcome aboard... The above charts (last ones) is a ym 2 Range charts with simple ma 100/34 and on the oscillator pane you have cci 50 and cci 14 for turbo... also add level +-50 on cci`s...simple and straight forward... This method gets to work ok when cci 50 its above/below +-50 levels and the turbo cci 14 does the timing with the 0 line cross... you can also be agressive and time the turbo on 50 or 100 levels as posted on previous charts, now its more conservative to take entries on a turbo 0 line cross... I attach an example from today, wich happens to be also an icon trade... cheers Walter.

Hi BluRay, this Sunday range has given me an inspiration of what are the advantages of small ranges... On the other side you can see how you can trade out of ranges with our variety of FHR setups... Including "flip".. so from there on I am on the search for a small range previous to every session, I will post soon on the topic... but as you can see we are trying to combine all our methods together, FHR + flip + icon + small range, etc... to come up with something cool.... cheers Walter.

Yes Soul at this time its not me... I couldnt access the site almost all day... cheers Walter.

In my case Site will not load sometimes... I get IE message : can not find server... (all cookies had been previously cleared)... sometimes I press this "detect automatically configuration of net" link and will find site, other times it wont... thanks Walter.

I will Party this weekend ¡¡¡¡ :beer::beer::beer: I think its the finding of my trading career I am exited man ¡¡¡ RRR on steroids...:D

Yes Don I also noticed that... seems like "flips" are very solid on this FHR levels... its interesting how we are evolving here... previous technicals ideas being combined with new ones... I never expected that we would come with something like this... cheers Walter.

Ok some old idea here that can become expolsive ¡¡ I came to read today a thread here on TL done by feb2865 ( Raul ) who kindly shared a method also been tought at forexfactory, he gave a chat also on this forex strategy wich is interesting stuff indeed... I see it wasnt much followed here at TL afterwards and feb2865 has not been arround either.. but looking at it here and also at forexfactory I found some interesting things we could modify and capitalize... Let me recap what this simple strategy is : the overall idea its to break yesterdays hig or low and play the breakout (period) for more information I would suggest reading this chat transcript http://www.traderslaboratory.com/forums/f55/chat-script-from-nov-7-2006-a-746.html Now I did this observation... High range days had relative 50/50 performance on this breaks, but low range days had explosive breaks ¡¡ almost all of them... NOW and NOW chatterbox pay attention here... for my surprise looking at this daily charts at MT4 I find wonderfull very small range days that had wonderfull breaks... you know what... that was sundays first hours... that becomes a daily bar when monday starts... jejejeje... a very small short day actually, but creates a petit bar that when breaked WUALA ¡¡¡ works like a charm... also there is probably a financial market fenomena here as the week its starting and everything its fresh and this range break gets more attention from some key players... NOW imagine trading a forex strategy only on modays, My Lord wouldnt that be amazing... ¡¡ I attach a Daily chart (walter with a daily chart ? :p jejeje ) the arrows are the sundays... look the at the breaks... Also attach a 5 min chart with a daily range indicator where you can see a detailed break... Some idea here my friends... we shall not stop until Tokio ¡¡¡ cheers Walter.

I have to add here, sometimes I dont get to acces site... cheers Walter.

Thanks Janice for that advice.... and yes I think I am more confortable on the one setup scheme, what happens is that sometimes I get kind of curios about new methods and I love to experiment new things... now I had always been profitable on my old one unique method... so I asume that one is "entrained"... thanks for this valuable information ¡¡ cheers Walter.

Great great article Doc ¡¡... really very interesting and I would like to have access to the full manuscript if posible... Here I have a question : Taking into acct all the process that it takes to the brain to get trained for succesfull trading, we can asume that if you trade several diferent setups at the same time, he obviously has a much more complex work to do... It happens to me from season to season that I trade up to 3 setups at the same time, then I feel very stressed on so much information processing and I like to come back down to one setup, making my life more easy... would you recomend really getting good on ONE setup ? and let the brain be really focused in that one strategy and not confusing him with so much overwhelming information... cheers Walter.

Ok here I attach some charts to meditate on ammmmmmm ammmmmm cheers Walter.

It leads... and it has the advantage that it doesnt make that much noise... if you combine it with sound concepts on the price pane you got a very nice timing tool... I was ccier some years ago, the error on reliyng only on cci its that you loose the perspective on whats happening on the price pane... now when you invert the structure of your analisis and start the argument on the price pane and see that cci can be a very nice accesory for your timing then you get a nice set of tools working for you... A trader should NOT ignore whats happening on the price pane (bars) he must understand all the dynamics of S&R as other key levels as fibos an MP... thats where woodies error comes to promote only looking cci (no stinking bars)... its too risky not to know where you are on the chart... NOW cci its an excellent timing tool.... thats why I still use it... cheers Walter.

I have to add my 2 cents here... The market has a norm : Cycle. The market has an exception : Momentum. When you detect the norm "cycle" dont expect great moves... take small profits and dont get greedy. When you detct the exception "momentum" let the runners run... make as much profit posible. Now as momentum its not the norm, you must understand that to make a living on this bussiness you have to program yourself to make everyday a good reasonable not hughe amount of money... If you are after big gains everyday you will most probably overtrade and fail... cheers Walter.

I didnt see this question before, so did not respond it... sorry for that.. Now as you already showed, the icon integration to this FHR context certainly its a powerfull one... in terms of "flip", I think it would be a complete separate alternative inside the FHR trades... it will be obviously in the centrifugal action cathegory, wich suggests momentum eventually... now, so far backtesting you can see lots of flips on this FHR levels... So the FHR Flip would be another FHR trades... So far we could have this FHR trades : Centrifugal : _ Momentum FHR _ FHR Flip Centripetal : _ Cycle FHR _ Cycle Fibo FHR _ Cycle Back FHR

In this case FHR trades do not pretend to be breakout trades... the levels that FHR creates will organize a series of alternatives that go from cycle to momentum...

Here I have a Cycle FHR and its FIbo Continuations... The cycle was exactly on the test of FHR level , timing with cci -100 worked very nice... now after that succesfull cycle, we start to plot fibos retracements always starting from the fhr level to the max high pivot... the level between 50 to 61.8 is the only one considerd here... cci -100 again does the timing job... as we are not in momentum, scalper exits would be more prefered... cheers Walter.

Notice this Cycle backs... Momentum did not build so market goes back inside range and starts to cycle exactly on the FHR levels... cheers Walter.

Yes Don, so far its being a cycle day as big traders are waiting for fed numbers, will be interesting to see with fed numbers how we switch to momentum and how timing should be handled... I attach now Thre graphs of so far three concepts we can be looking into FHR : 1) Momentum FHR 2) Cycle FHR 3) Cycle Back FHR cheers Walter.

Nice chart there Don... I like that integration of the icon for timing... cheers Walter.

Hi Tin ¡¡ are you planning to share some charts with us ? , would love to see those NQ charts... cheers Walter.

Ok so here we go with the first trade that comes from our idea thread... This one has been developed from Don`s contribution on FHR and we are interacting here as this FHR (First Hour Range) gives as a lot of key information to play with... Now let me give a word here about this FHR... This is the range of the Hour previous to the London open (we will also deal with asia open soon ) but to get started lets take London... so the Range High/low of the hour previous to London open is our FHR... Now when London opens we have this two clear levels wich actually mean a lot for the market... from here on many things can happen... but lets organize it into only TWO classifications : Momentum or Cycle as market has this two possible conditions... so here comes a very nice fact.... we can cycle or we can develop momentum in RELATION too this two levels... wich organizes our visualiztion of the market... We will be able to have centrifugal as centripetal action here... we can scalp or we can look for long runners... we can even flip this levels... there is a great series of combinations derived from FHR + Cycle/ Momentum concepts... So this being said let the discussion and more specific development of the FHR trades start... I know that at the end of this journey we will find a bright light of very interesting and straight forward setups to be implemented on forex... cheers Walter.