Parabolic SAR - that's all!

[dpaterso]

No MACD crossing yet though!!!

RSI, Stochastics, and ADX looking 'ripe' though - should be two goods trades coming (just watch Oil though).

Dale.

[Hypechic]

Originally Posted by dpaterso

I was just having a look at MACD again and I am of the opinion that not ALL MACD signals are equal in their 'strength'.

What I'm thinking is this: if the MACD EMA crosses the MACD signal line close to the zero line or while it is 'overlayed' on the OsMA then that signal is NOT as strong as when the MACD EMA crosses the MACD signal line further away from the zero line AND when it's actually 'cleared' the OsMA.

Another way of explaining this is as follows: (At Delta anyway) there are MACD values at the top left hand side of the MACD display area. Basically what I'm saying is this: a 'valid' and 'strong' MACD signal is only 'valid' and 'strong' IF 'DIFF' AND 'DEA' values are GREATER than the 'MACD' value when they cross (or LESS than the 'MACD' value if looking to go long) AND AWAY from the zero line (I suppose that goes without saying).

Take a look at the attached charts and feel free to comment.

Look - I don't know about you people - but I'm feeling quite confident that we are about ready to release VERSION 1.0 of this system i.e. put it together nicely in an Adobe .pdf file and post it here.

Does anyone (that has gone through the WHOLE thread have anything else to add for now)?

Where the 'eff' is Ingot54???

Regards,

Dale.

Good morning Folks.

Dale, you do have a point about the MACD signal. I have also noticed that when MACD is close to the zero line, it seems to signify a ranging market rather than a trending one. That's the case on all the charts I've looked at.

[Hypechic]

Dale, I just looked at your EUR/NOK pair and saw that it had a 70 pip spread.. How do you trade pairs like that?

And I thought a 10 pip spread was very high

[dpaterso]

Hello 'Just Joan',

Dale, I just looked at your EUR/NOK pair and saw that it had a 70 pip spread. How do you trade pairs like that?

I know - it's great isn't it!!!

How do I trade pairs like that??? With 'BIG ONES' and a lot of faith in the (our) 'system' (oh - and 'MARGIN')!!!

I take it then that GBP/ZAR would not interest you???

Seriously though - it's all relative (in my humble opinoin that is). I mean to say - when EUR/USD with its 1 - 3 PIP spread moves it moves in 1 PIP increments - BUT - when something like GBP/ZAR moves it 'F***S OFF' if you know what I mean. With these 'favourite' pairs of mine - it's just being able to survive the initial 'shock' of seeing the monetary value of the spread when it appears before you upon opening the position - if you can survive that you're good to go!!!

Regards,

Dale.

[Hypechic]

LOL, Well on that particular pair, MACD has almost crossed, Stoch is heading up out of the oversold area where it has been for a while and psar has a dot on the daily. Well I took the trade, even though the high spread scares me but if I can't trade it comfortably on a demo, there's certainly no way I can trade it live so here goes nothing....

[Bocajunior]

Evening all,

I've been a bit busy so I'll have to go back and read the last few pages of the thread but here are my current positions as they stand just now.

I've had a few positions stopped out in the last couple of days as this is when I have switched to the shorter time frame (3H) to lock in profits. Although I have closed profitable trades, it would appear that some of them could of run longer for more profits but I believe you got to be happy with what you got.


Open Positions
AUD/JPY Long (Re-opened position after reversal signals on 3H time frame)
EUR/AUS Short
EUR/JPY Long
EUR/CHF Long
GBP/USD Long

All of the above are showing profit with the exception of GBP/USD which is currently at a loss.


Closed Positions
GBP/USD. Closed manually for a loss after Fed rate cut. -50 pips
USD/CAD Short. Stop Loss on reduced time frame for +350 pips
XAG/USD Long. Stop Loss on reduced time frame for +5000 pips
AUD/JPY Long. Stop Loss on reduced time frame for +180 pips
AUD/NZD Short. Stop Loss on reduced time frame for +100 pips
NZD/USD Long. Stop Loss on reduced time frame for +190 pips

So far so good and a few opportunities coming up by my charts.

Cheers all,

[dpaterso]

WOW - was that bad timing or what 'Just Joan'???

I don't know if it has 'JUST' happened to you or if you missed it - but EUR/NOK gapped down (it actually gave me quite a fright when it happened because all my alerts went off - cellphone / email / workstation - all at the same time) and I thought 'what the f**k is going here' - it CAN'T be EUR/NOK!!! Anyway - IT WAS!!! BUT - I've seen this happen before - so I IMMEDIATELY went long on EUR/NOK and GBP/NOK - and - hey presto - the price retraced - so I did not lose anything and made enough to cover my 'crappy' EUR/CHF 'nothing position' (yet another reason to NOT trade with stops by the way)!!!

Anyway - after the above little 'glitch' I have closed ALL of my positions again INCLUDING EUR/CHF!!! LET'S START AGAIN (at least I broke even - can you believe that - after almost three weeks work and late night after late night going through my 'wishlist' - and I broke even - maybe $30 profit IN THREE WEEKS)!!!

Again - there IS method in my madness (by closing all my positions again) i.e. YOU CANNOT ignore ANY of our 'new rules' i.e. everything was 'perfect' with EUR/NOK EXCEPT THAT MACD HAD NOT YET CROSSED!!!!!! We are really onto something here BUT there can be NO EXCEPTIONS to 'the rules' I don't think!!! There can NEVER be an 'EXCEPT for this ... and this ... BUT this ...' in our plan EVER again!!!

Please don't be put off my 'favourite' pairs e.g. EUR/NOK, GBP/ZAR, EUR/ZAR etc. etc. etc. (Joan - have a look at USD/RUB - that thing pays off big time and the spread is not that much comparatively speaking). They DO make BIG money - but - as stated above - YOU CANNOT BREAK ANY OF 'THE RULES' - AND I'M MORE GUILTY OF DOING THAT - AS YOU ALL ALREADY VERY WELL KNOW - THAN ANYONE ELSE ON THIS THREAD although 'Just Joan' ALSO 'just' fell into the trap I think i.e. 'MACD has ALMOST crossed'!!! Wow 'Just Joan': 'FIVE OUT OF SIX AIN'T BAD'!!! Sorry - couldn't resist!!!

Anyway - I closed out everything - broke even - and from this minute onwards WILL NOT OPEN A SINGLE POSITION UNTIL EACH AND EVERY SINGLE ONE OF OUR 'RULES' ARE SATISFIED - YOU CANNOT GO WRONG - YOU MIGHT JUST HAVE TO WAIT A WHILE IS ALL!!!

Every single position that I have opened in the last two or three weeks where ONE 'rule' has not been satisfied has pretty much turned to 'sh1t'. Actually - I don't know what is going on with the forex markets - everything seems to be 'hanging on the edge' as it were - or is it just me??? I mean - it appears that all of the recent trends are just coming to an end (all of the recent trends that I missed I might add) but the reversals seem to be taking quite some time to start!!! I suppose this means that forex trading is pretty much over for me for this month (I have no idea how I'm going to pay bills and am trying everything in my power to NOT draw on my capital) i.e. nothing is going to reverse and start trending between now and Friday I don't think BUT I'll keep looking - you know me - 'forever the optimist'!!!

Let me see if I can 'work some magic' with stocks before Friday!!!

I am going to start working on our 'Version 1.0' and post it when I'm finished - you can 'pull it apart' from there!!!

By the way - I wonder what 'those people' think now - you know - the ones that 'took our system' and didn't like all the 'additions'!!! You know who you are and what I'm talking about!!!

Regards,

Dale.

[Hypechic]

Originally Posted by dpaterso

Please don't be put off my 'favourite' pairs e.g. EUR/NOK, GBP/ZAR, EUR/ZAR etc. etc. etc. (Joan - have a look at USD/RUB - that thing pays off big time and the spread is not that much comparatively speaking). They DO make BIG money - but - as stated above - YOU CANNOT BREAK ANY OF 'THE RULES' - AND I'M MORE GUILTY OF DOING THAT - AS YOU ALL ALREADY VERY WELL KNOW - THAN ANYONE ELSE ON THIS THREAD although 'Just Joan' ALSO 'just' fell into the trap I think i.e. 'MACD has ALMOST crossed'!!! Wow 'Just Joan': 'FIVE OUT OF SIX AIN'T BAD'!!! Sorry - couldn't resist!!!

Regards,

Dale.

ROTFL, I knew you were gonna get me for that. Honestly though, I'd rather make all my expensive mistakes on a demo account than a live one..

[Bocajunior]

Dale,

Will look fwd to version 1.0 when it comes out.

Cheers
Scott

[CharlesLioe]

Originally Posted by Bocajunior

Evening all,

I've been a bit busy so I'll have to go back and read the last few pages of the thread but here are my current positions as they stand just now.

I've had a few positions stopped out in the last couple of days as this is when I have switched to the shorter time frame (3H) to lock in profits. Although I have closed profitable trades, it would appear that some of them could of run longer for more profits but I believe you got to be happy with what you got.


Open Positions
AUD/JPY Long (Re-opened position after reversal signals on 3H time frame)
EUR/AUS Short
EUR/JPY Long
EUR/CHF Long
GBP/USD Long

All of the above are showing profit with the exception of GBP/USD which is currently at a loss.


Closed Positions
GBP/USD. Closed manually for a loss after Fed rate cut. -50 pips
USD/CAD Short. Stop Loss on reduced time frame for +350 pips
XAG/USD Long. Stop Loss on reduced time frame for +5000 pips
AUD/JPY Long. Stop Loss on reduced time frame for +180 pips
AUD/NZD Short. Stop Loss on reduced time frame for +100 pips
NZD/USD Long. Stop Loss on reduced time frame for +190 pips

So far so good and a few opportunities coming up by my charts.

Cheers all,

may i ask what other indicators you are using? i have oanda too, and somehow i failed using PSAR only mostly coz of my impatience, as soon as i see red numbers my eyes go O_O and i chicken out and close the trade. Trades which are supposed to be working, fails on me coz i wait too long (due to greed?) until i exit.... i have to work on my complete BS attitude being too much of a "greedy chicken"

btw, Dale, i like this thread, your daily rumblings are fun