Dear Trader28, Thank you for the thread. It has given a very crucial part to my paradigm about trading. Especially how to aplly discretion into rule-based system. If you have any plan to visit bali where I'm living, you may contact me, i'll be glad to meet you. Our beaches are Australian tourist's favourite Warm regards, Darma
I've tried to observe the behavior of this method on forex, picking the pair with the most volatility such as gbpusd and eurjpy but the 2 minute chart seems a bit too choppy. I can not find any pair with the behavior close to the ER2. Does anyone has the same experiment ? Mr. Electric, perhaps ? TIA.
this method can be day traded on the forex on 5 min 15 min and 30 minutes, to be sure i operate with the trend I have 2 filters : 1) I draw a 89 sma and a 14 sma chanel (that means 14 sma of high and a 14 sma of low). 2)I have also put a 60/130/45 macd histogram but i didn't draw it as a histogram i have chosen to draw it as a line : when it is above 0 that means the higher time frame is bullish. 3) When I see a macd signal (cross of of MA 's in aggreement with the 0 line ,or cross of 0 line by the fast MA) I look for a confirmation of my trend filters one filter is enough, , if both are ok it is better of course. On this chart : the big black dot : 89 sma the purple dots : mean the prices are below the 14 chanel the green dots : mean the prices are above the 14 chanel The entry is when the macd cross , this cross happens below the 0 line and my 2 trend filters are ok so let's go short! I also whant the prices to be under 14 chanel when i go short. I am fench and not fluent in english il will post some of my trades next week (real trades). I use a 25 stop loss that i reduce when the trade goes positive and my target is a pivot which gives me a profit > 25 pips, usually between 30 and 50 pips. I trade gbp 5 minutes time frame and plan to trade 15 minutes and 30 minute in the next weeks. Good trades to every one
On the 12/26/9 macd you can see the down cross of ma's around 3h40 (and it happens below 0 line), i forgot to draw the entry arrow on the macd i have just drawn it on the prices . I hope the chart is clear enough. I will post other real trades next week. See ya
Potemkin, question was to Trader28 about news and working candle. your comments did't really answer it. so, please if there is no answer, don't act, even if you really wanted to. Thanks
again, question to Trader28, not to anybody else who doesn't understand it. on p 34 no answer on what i am asking for. so try not to send unnesessary advises
Oberun I think its only fair that you read all the posts and you may find your answer......the answer to part 2 of your question is on the top p.34...CLOSE of bar...... If it it a substantial move you can wait for a pullback to enter...... Dont expect trader 28 to hold your hand on trading the news.....Logic would dictate not to trade right around any major announcement perhaps 10 minutes or so after so you wont get shipped around.... If your not willing to look at this for what it is and use your own discretion then you need to call TradersInternational and bend over...Sorry if this sound a bit rude but the market kicks us if we aren't responsible for our decisons...
this is not a language disconnect, but a logic disconnect. My question is only to Trader28, thanks for trying to answer it, doesn't work. this is not your blog guys, i am not sure that you know what you are talking about. so, question is still open.