Snow Dog

I've asked a couple of guys some very bright ones to automate but its tricky. I trade 100% manual. I'm techno challenged, for example, got this email today from my rebates guys Sorry you are still having the problem. It's probably related to your browser. Try this: 1) clear your browser cache 2) clear your browser's cookies, then try to login again. 3) if all else fails, try another browser (if it lets you login, you know it's the browser). and I replied that he's talking greek and heeelllllp. Anyway I'm off topic. Hl/Lh's are difficult to code it seems. A zig zag indi might help. Also a fozzy cross (8 sma on an 8 rsi) but then you have factor in the quiet times. If I was going to try and code something you'd want to factor in something like above/below 1hr 8 lwma/8 rsi 50 level as a basic filter. This will miss some 2b trades. You might also want to code an above/below D 8lwma/8 rsi 50 level as a trend filter. So then you are looking to take 2b/flag'hl, lh's with both a D trend filter and a short term 1hr filter. Then of course what to do about end of run hl/lh's that go up against good strong 15 min reversal candles, perhaps no trades after 80% of 5 day ATR. So in summary what might help: D + 1hr filters for direction 5 min fozzy cross will give lots of signals filtered for trend as above. Will this work on an ea, haven't a clue.

Sometimes I'm a little forgetfull:doh:. Not finished no.

Traders might also want to research 1 2 3 reversal patterns and 2b reversal patterns which may help with entries when these set ups play out.

Don't give up, at this stage all you've done is find a method that does not work for you. Find a method you think suits you (time frame 4hr or 5 min whatever), time you have available to trade eg I can trade after work during US open). Make sure you have written rules and follow them. Research your system in the time span you'll be trading it. For example if London open, it is notorious for switching direction and you might decide to trade reversals only in that time frame in line with the candles/patterns you like (1 2 3 reversals work well then). Look back in time on charts for a 20 day uptrend, 20 day sideways and 20 day downtrend. If you plan stacks up in these 3 scenarios you should be comfortable that you have a solid plan. If it looks like it'll work on your research demo trade till you can show consistency. If it doesn't work you know to look for another method.

Ha 150th post, most important, with faith all things are possible.

Ralph Shell has written a very interesting article on US jobs numbers and currency markets see http://www.cashbackforex.com/?aid=112 and go to articles.

OK if I can try and sum up. Rules per 1st post pretty much apply. SR levels trumps all. But with that in mind we are focusing on trend description at its basic level being D chart above/below its 8 rsi 50 level or above/below 8 ema. We like to follow prev days candle. If this confirms buys above D rsi and sells below great. If there is a contradiction then may give buys/sells on that day. Like eur on Fri a nice buy hammer below the D rsi and it carried on falling. I know a prolific ea writer that pretty much always includes a D rsi filter on his short term 5/15 min ea's.

Above/below D 8 rsi 50 level can easily signal trends of 2-6 weeks, for some reason my platform is playing up and cannot get a chart now. No mind you can chuck on rsi or if you like an 8 ema they'll pretty much give you the same thing.

I mis-understood Mrs V intentions here. Its not that she said no to me taking counter trend trades, she won't be, apparently. A good trade from a key SR area with good candles is a good trade.

That does mean that a pos close D candle below the D rsi (8) can mean both up and down. I'll post some charts.

Of course that means that the concept of follow the D candle which has from my prev notes about a 70% of following through the next day has a couple of applications. A pos close D candle above D rsi (8) 50 level is a very high indicator of move up. A neg candle below the same.

I am looking at varying my description of trend. D rsi 8 above 50 level is up and below down. If your shorter time frames are matching that ie 4hr and 1hr you can be fairly certain your hl/lh's in that direction have a pretty good chance of success.

I had the chance for a winter break and grabbed with both hands. 1st trade for a while. Didn't trade NFP London morning session, a mistake. Oh well after NFP price just didn't want to fall despite a couple of 15 min shooting stars. Got a couple of doji's (didn't have the conviction to buy the top) but after the positive close for a kind of morning star pattern (down, hesitation, up candles) bought the hl little/no upper wick. Target was original a W pivot around 90 level but when we hesitated for 2nd time at 75 psych level exited for +24, just after pic taken.

Link here http://www.traderslaboratory.com/forums/forex-trading-laboratory/8164-higher-lows-lower-highs-17.html#post120757 for the Ralph Shell article.

Ralph Shell has published an article "Further weakness for the Aussie" and I have made my first contribution to his work based on this chart.

What that means is from the times shown per red line on 4hr NO buys of any sort would be considered on eur and gu (London close the exception). Waiting for sell set ups only. The eur 5 min, from the 2b shown its just selling the right set ups. The 2b is fine as its not a reversal trade BUT a sell set up in line with 4hr down trend as described. From there on its sell your chosen set up. Mrs V somewhere in there whilst I was out had a eur buy (as per prev system) and out for -9. Re-sold later to make up. Anyway we realise there will be some perfectly valid trades we miss out on waiting move from 1hr to 4hr but there are losing trades as above that would be avoided. We are looking for fewer, longer trades using the small stops we are accustomed to.

We have had a natural progression of two things being: - we have reduced trades from at one stage around 10 a day to a couple per day, and - Mrs V has wanted us to focus on trend We are making the 2nd real adjustment in 3 years (first was bringing 15 min in). The 1hr can move around a little whilst 4hr still showing trend. So we have changed definition of trend from 1hr. The current set up I have then is 4hr, 15 min 5 min. Trend is described as above/below 4hr 8 lwma and 8 rsi confirming above/below its 8 sma (fozzy cross, I know an indi has appeared :doh::doh:). Having our description of trend we do not intend taking ANY counter trend trades (London close set up a very specific exception). So we will take hl/lhs, morning/evening stars, 2b's and the odd flag but they will be in direction of 4hr trend. Can't change 1st post as far as I am aware.

Use indi's don't use them. If you go with them make sure you understand their +'s and -'s. If I told you of a trader that trades gu 4hr macd divergence only 30-50 full lots at a time (not piddling 5 digit broker stuff) would you reconsider indi's.

Happy not happen!!!!!

Each chart has the same thing, cross of 8 lwma, several candles suggesting stall + turn through multiple tops/bottoms, higher lows/lower highs. Cherry picking or solid lower highs or extended periods where several candles suggest move stalled for turn.

Each chart has the same thing, cross of 8 lwma, several candles suggesting stall + turn through multiple tops/bottoms, higher lows/lower highs.

You decide if you can build a system around this. All reversals through 8 lwma that have multiple candle tops/bottoms and/or higher lows/lower highs.

You did say you wanted simple, perhaps this fits that bill. Put an 8 lwma (on close) onto a 4hr chart. Look for crosses (closed candles) that have some form of definite pa suggesting a turn eg double tops/bottoms, higher lows/lower highs. That easy, sure, take those charts for a whirl and see what happens.

Have to fight our own get rich quick impulses first. Take any new method demo it until completely happen you understand it and when you can demo sufficient win % and profit % to put you ahead then go live. Doing your own method, back test in trending and ranging days that it'll stand up. Then go live .................................. with confidence in your methods.

Trading should be simple but isn't. It will most likely be the hardest thing you ever do (and get right). The barriers to entry are none existent. A few bucks and an internet connection and heyho lets go. People spend more time deciding on which burger to buy that they do in looking at this as a business that takes time and effort to get right. Goodness gracious I was looking at a thread that is clear for 4hr, lowest 1hr. Some guy bless him, when 4hr had signaled a perfect move up a few hundred pips ago and was now signaling move done, wass asking why his 15 min entry buy didn't work. I could go on but my missus is :crap: suggesting i switch computer off. Its a business treat it like one.