Thanks for the quick replies, guys.
RC, if I’m looking at stops equivalent to half the value of the channel would that be about the parameters you use?
I’m still thinking of using an alert at the touch of the LWMA on the Daily, then dropping down to the 4H or the hourly for an HA candle color change.
If your platform allows you might try putting up (overlaying) 2 LWMA hi/lo but off the HA hi/ lo as well as conventional daily hi/ lo. Most of the time there the same but not always. When they are out of line PA will usually take the bounce at mid point i.e. there would be two 2 LWMA hi or low and PA usually bounces at mid point. If your platform won’t do it no big deal.
Yea that sounds reasonable a 1:2 RR. 
Personally I don’t change down to a lower TF but if it helps.
Here’s a screenshot, notice the two LWMA hi/ lo’s.
Well, like you, I make all my trades off TS II/Marketscope; I usually have an instance or two of MT4 running, but that has always been just for charting.
(Speaking of which, I’m sure you’ve noticed that whenever Marketscope is opened all the charts are zoomed out. We must painstakingly zoom in each chart to our desired level. Is there any way to save the level of zoom on these individual charts if we close the platform and re-open or switch back from another layout?)
What do you folks think about E/U and G/U for a short? I’ve been watching both pairs with the weekly 2ma tunnel and the 2ma daily tunnel. Today E/U and G/U both blew through the upper line on the weekly and daily channels, really popped through the weekly!
I was planning on not trading Friday, shutting down the platform this afternoon and calling it a week. But I think I’ll keep it running and keep an eye open. 
EDIT: I also just noticed E/U hit bounced off the 20ma centerline on the weekly bolls
I had an entry on cable near the 4hr resistance 1.54, missed it by 2 pips and then dropped. Oh well.
Could be the exhaustion point for GJ as well.
Euro, difficult call - it’s a crowded trade subject to short squeezes and the like. Should be string resistance in this area but it’s on a pretty good up run.
G/U and E/U would constitute a counter trade on the daily and weekly if shorting so its not for me.
Yeah, both E/U and G/U might not be ready to get off the northbound express, I’ll wait and see what happens overnight. I haven’t been watching any of the yen’s, G/Y or E/Y.
LOL… Might be like jumping in front of a really big locomotive… Maybe I’d be better off looking for a retrace and trying to get back in long.
thanks,
So, as far as I can tell RC, you’re trading the trend by using the predicted range of the pair to give you an entry point. I don’t know if that’s how you see it but the LWMAs seem to stay fairly consistent on each pair (ie the distance between the high and the low) so once a pair has reached its lower range it’s time to get in with the trend. This could be done mathematically but not much point if an LWMA gives you a visual…
The higher the TF, the less noise/change in distance between the LWMAs.
Feel free to disagree.
No I wouldn’t dissagree San… you will also find that the hi/lo often coincides with S/R as well. Makes trading easy doesn’t it. :D:D:D Up 425 on those trades now.
Speaking of which, when do you decide to change direction?
AU was lining up for a short at beginning of week and the LWMA angled upwards after a couple of days. I’m still in short but it was demo so didn’t bother to change anything.
Cable looks to bebreaking out now, probably capped around 1.5450-1.5500 - have a look at it on the weekly chart.
Ok, so RC, what are the official rules of your system? There seems to be a lot of differences between traders and I wanna make sure I’m trading the system correctly.
Yes its getting near S/R but whats to say its not going to break it and carry on up? This why I only trade in the current direction of trend defined by the colour of the HA candles/ bars and angle of the tunnel. Taking trades off the oposing LWMA of trend.
I tend not to push my luck rather waiting for a new trend to be clearly defined. In the case of E/U and G/U I’d wait until PA had come over the top as shown by a clear curve on the hi LWMA and at least 3 short HA daily candles (trading the daily TF).
There is no correct system. My method is probably the most conservative way though.
I trade the daily TF with HA candles (in my case bar) using Daily hi/ lo 2 LWMA and HA hi/ lo 2 LWMA. When PA has clearly defined the direction of trend (see previous post) I place a trade at the opposing side of the trend off the LWMA and exit at the other side.
If PA doesn’t reach the opposing side of trend I won’t trade period. If the candle changes colour at the start of the trade and looks like it will push the opposing LWMA further I’ll get out and re-asses.
Other than I look to 20 pairs as half the time I’m waiting for the PA set up thats about it. But as you have already described theres more than one way to use this.
I have seven trades currently running on the daily all positive. Conservative trading works for me. 
Conservative trading is for losers! I risk 10% per trade minimum! lol im joking, hopefully you can tell. I think i’m gonna start trying your conservative way 
I definitely like the idea of avoiding counter-trend trading with this strategy, as I imagine it would be prone to many losses - as strong trending moves can continue without always falling back to the middle of the channel.
It would seem the only drawback to the way RC does it is waiting for price to fall back to the opposing LWMA of the trend. It seems to me at first blush that such opportunities would be rare, but he is proof it can’t be [I]that[/I] rare. And RC seems to have gotten round the issue of waiting for a good setup by charting eleventy-billion pairs.
Well the thing is you’ll never catch those contra trades that move 60% against the trend i.e. the contra trade to opposing LWMA but then you know that when the move has finished you can hop back on board with the trend and make hopefully more pips with half the risk. The only downside is the waiting!
Yea 10% of bal per trade seems a tad high risk!
The only reason he charts 20 pairs is because FXCM doesn’t allow more than 20 at a time lol
and 1% of your account is like 100,000,000,000$ right?
I like to use a max of .0001 % of my balance per trade. And since I am just starting in forex, that is like half a penny.