Parabolic SAR - that's all!

[dpaterso]

Hello,

For our purposes it's when the lines cross each other. A crossing of the zero line is a 'strong' signal but - yes - that will lag behind Parabolic SAR.

And if you're going to sell that tooth then you'd better sell it now!!! Put it this way - the general consensus is (I subscribe to as much 'Gold info' as I can find) that if Gold does not close above $730 tomorrow night - it's going D-O-W-N big time - and my money is waiting for D-O-W-N!!! If it closes ABOVE $730 then (apparantely) we can expect it to go to $800 (well - that's what all the 'analysts' say - but - as stated many times before - trust the charts - not the 'analysts')!!!

Anyway - being in the good (albeit 'hungover') mood that I'm in I thought I'd give you all the addresses of some of the websites that I use for various 'useful' things:

This site will send you an email alert when a certain price level has been reached (and their list seems to contain pretty much every pair 'known to mankind'):

Oz Forex Foreign Exchange | Email Rate Alerts

This site will send you an email alert when a certain price level has been reached AND it can send you an email alert when certain indicators are doing certain things like when MACD crosses from the bottom up or crosses from the top down etc. etc. etc. Unfortuanately limited to only the 'majors':

alert!fx™ - foreign exchange (forex) alerts.

This is a 'handy' site for those of you who need to know which markets are open and at what time they open and close (interesting to note that the Taiwanese and the Japanese don't seem to work that long in a day). Be careful when synchronizing their clock to yours e.g. for some or the other reason THE WHOLE WORLD seems to think that South Africa has DST - WE DON'T - you know - stuff like that:

Market Clocks

These links have been posted somewhere before on babypips.com but they are hard to find without sifting through the threads in the 'newbie' section so I thought I'd post them here to compliment the thread (especially those of you who are using MACD and are only trading the 'majors').

Regards,

Dale.

[dpaterso]

For interest sake all you 'commdoll' people:

Gold has just hit a 27 year high - around $730.40 USD an ounce (on my live chart - and $730.51 in London).

History in the making!!!

If you're long AUD/USD and / or NZD/USD - congratulations and well done!!!

If it were me - I just know I'd take profits now - if it keep going up - you can always re-open your positions - but - my money says 'that's it'!!!

Regards,

Dale.

[dpaterso]

Finally - I'm in!!!

Short - EUR/CHF!!!

Why?

Well - take a look at the chart - it's will give you an idea as to where my thoughts are going for the 'final' system.

Basically - I've broken two 'rules' - but there are another four or five 'within spec' as it were - so - I took the trade.

'Rules' broken:

Parabolic SAR has just been pentrated i.e. did not wait until tomorrow for confirmation. If trade is 'bad' I will double the position size when I do INDEED receive a Parabolic SAR signal to go short i.e. trading with no stops so I won't be stopped out if position goes 'bad'.

MACD MA's have not crossed yet (see below for reason WHY this 'rule' was broken).

Now - the 'weighting' of the above two 'rules' needs to be established - and that's what I going to try and prove with this trade. To be honest - I think that these are THE most important two conditions to be satisfied but read on for my reasons as to WHY I have chosen to 'overlook' them.

'Rules' NOT broken (and applied):

RSI above 50 going down
Stochastics above 50 (actually above 77 - nice) and going down
MACD showing two things (both EXTREMELY powerful MACD signals) i.e. MACD Oscillator showing 'twin peaks' and second 'peak' lower than the first AND there is divergence between the price and the MACD Oscillator
ADX and / or ADXR above 20 and ADX and ADXR have 'bottomed' and have started to turn up.

OK - so - now I'm hoping that this is a 'text book' trade of our 'system'.

Let's see where this goes!!!

Feel free to comment or post your thoughts.

Regards,

Dale.

[Hypechic]

Originally Posted by dpaterso

Hey - listen - I spent the profits that I made on Soybeans yesterday - on a bottle of Captain Morgan tonight - now I'm 'pis*ed' - BUT I STILL 'dutifully' went through the 'Parabolic SAR Watchlist' (Wishlist) now - and - still - no entries!!!

And - TO ADD 'INSULT TO INJURY' - no 'thoughts' or 'replies' or 'input' or 'a simple hello' or anything like that from ANYONE!!! Thanks 'mateys'!!! ('Pirates of the Carribean' and all)!!!

What's with this!!!

Ingot54??? Akram??? (OK - 'droesparky' has been away - apparantely anyway)!!! Benjimang??? 'alan003'??? Hypechic (Joan)??? Actually - 'Joan' - are you / could you be the first woman in our midst??? Like 'Just Joan' - from 'Romancing The Stone'??? You know - Michael Douglas and all???

Now I've 'had it'!!!

Dale.

Hiya all. LOL Dale, that beer musta done a number on you. I don't know if I'm the first woman on the thread....probably the only woman who bothers to post anything more like.

[dpaterso]

OK - so - I was right - so I had better start watching my language from now on!!!

Nice to know though - it's something that I've wondered about i.e. are there many woman that trade for a living? I wonder what the 'stats' are? And - more importantly - I wonder how their results compare to men?

And it's not the 'useless' questions that you may think they are (for all of you who think I making small talk here). In John F. Carters book 'Mastering The Trade' there is a small section on the different personality types and which personality types are best suited to trading and basically - from what I read and understand - it's the personality type that 'sees' things or rather relies on the 'visual' sense and sense of 'feel' and 'intuition' that make the best traders - and - from my experience - I reckon that MOST woman fall into that category.

And you all thought I was 'shallow'!!!

Regards,

Dale.

[Hypechic]

Originally Posted by dpaterso

Finally - I'm in!!!

Short - EUR/CHF!!!

Why?

Well - take a look at the chart - it's will give you an idea as to where my thoughts are going for the 'final' system.

Basically - I've broken two 'rules' - but there are another four or five 'within spec' as it were - so - I took the trade.

'Rules' broken:

Parabolic SAR has just been pentrated i.e. did not wait until tomorrow for confirmation. If trade is 'bad' I will double the position size when I do INDEED receive a Parabolic SAR signal to go short i.e. trading with no stops so I won't be stopped out if position goes 'bad'.

MACD MA's have not crossed yet (see below for reason WHY this 'rule' was broken).

Now - the 'weighting' of the above two 'rules' needs to be established - and that's what I going to try and prove with this trade. To be honest - I think that these are THE most important two conditions to be satisfied but read on for my reasons as to WHY I have chosen to 'overlook' them.

'Rules' NOT broken (and applied):

RSI above 50 going down
Stochastics above 50 (actually above 77 - nice) and going down
MACD showing two things (both EXTREMELY powerful MACD signals) i.e. MACD Oscillator showing 'twin peaks' and second 'peak' lower than the first AND there is divergence between the price and the MACD Oscillator
ADX and / or ADXR above 20 and ADX and ADXR have 'bottomed' and have started to turn up.

OK - so - now I'm hoping that this is a 'text book' trade of our 'system'.

Let's see where this goes!!!

Feel free to comment or post your thoughts.

Regards,

Dale.

Isn't that a tad impatient? Although breaking 2 out of 7 rules isn't that bad...is it? *tongue in cheek*

For me, I think Stochs, MACD & our 'almost' Alligator works just fine. Too many indicators and my brain begins to shut down. Add to the fact that I don't currently have much time to spend studying more than 3 indicators and voila.. Besides I'm only watching about 10 pairs,EUR/USD, EUR/JPY, EUR/GBP, USD/JPY, USD/CHF, USD/CAD, GBP/USD, GBP/CHF, GBP/JPY, AUD/USD. I personally can not handle watching more than 10 pairs. However, after your last post, I added the 11th... EUR/CHF. I want to see how that goes but I'm not entering the trade just yet....*I will be patient*

[dpaterso]

Very funny!!! That's it - make me feel bad why don't you!!!

I know you're right though. Of ALL of the indicators or 'signals' I would say the the appearance of the first Parabolic SAR dot indicating a reversal is THE MOST IMPORTANT and - after looking at Ingot54's MACD post - and then changing my MACD display so that I could actually see the 'effing' thing (sorry) - I would say that MACD is THE NEXT MOST IMPORTANT signal or confirmation of Parabolic SAR.

ON THE OTHER HAND - after adding all of these new 'rules' - as you say - '2 out of 7' ain't bad!!!

Seriously - I spent a long time looking at MACD on another system a long time ago (and the strange thing is that I did not bother with it BECAUSE IT WAS TOO COMPLICATED would you believe)!!! MACD does give a lot more signals than the 'common' ones of the 'crossing' and the 'crossing of the zero line' so I took the trade based on what I learned back then. Also - Stochastics seems to come out tops on all of my (Delta) charts as well i.e. as a leading indicator.

OK - ok - you got me!!! I JUST COULDN'T STAND NOT HAVING ONE SINGLE OPEN FOREX POSITION!!!

Regards,

Dale.

[dpaterso]

Of course - needless to say - it's sitting at $102 loss right now!!!

This pair - by the way - seems to 'loosely' following EUR/USD (according to the charts and at least from what I can 'deduce'). EUR/USD is at an all time high I believe because everyone is 'hanging on' for Bernanke's 'grilling' this afternoon. Let's just hope he does not pull a 'Greenspan' on us (me) - I'm short Gold, Dow, S&P500, Nasdaq 100, and, of course, EUR/CHF!!! This COULD turn out to be a very bad day!!!

Regards,

Dale.

[Bocajunior]

Dale,

What settings have you got for your SAR and MACD.

On my EUR/CHF chart, the SAR is still some way from being broken. There is a big difference between our charts.

Any ideas on this?

Cheers
Scott

[Tess]

Originally Posted by Hypechic

I don't know if I'm the first woman on the thread....

probably the only woman who bothers to post anything more like.

maybe not the only one to keep tabs on the thread

but undoubtedly the only one posting on it for now!!