droesparky:
Very funny!!!
I wouldn’t be so sure though!!!
Watch the charts!!!
Regards,
Dale.
Step One: Follow PSARdom method
Step Two: Nothing!
Step Three: Profit!
Over 200 pips / 5% up so far this week using 11 pairs and 12 currencies. I double-downed on my top performers that were still showing strong trends. I did a no-no by entering after the trend had already started, but I didn’t want to wait for weeks on end for an entry and miss any profits along the way.
Also, each entry only risks 1% of my NAV per stop loss, but with the number of entries I made, my true leverage is 30 to 1 (3.4% margin). This is of course extremely dangerous, but since I have a large mix of currencies I think my basket is uncorrelated enough to keep them all from dropping.
Well done dr_zeus.
I STILL don’t have any open positions - our ‘new rules’ are keeping me ‘at bay’ - but I’m sure that WHEN I get back in - this time - NO LOSERS!!!
Entering late - in my opinion - is a valid strategy in itself - as long as you get in at the same or better price. As a matter of fact - if you have a good look - MOST times - there is a reversal - then a retractment - and you enter on the retractment - perfectly valid - just requires more ‘restraint’ - but it solves the problem of having capital ‘tied up’ for an uncessary amount of time.
Regards,
Dale.
If you’ve EVER questioned the IMPORTANCE of a MACD cross then take a look at these charts!!!
I might not be MAKING money - but I’m sure not LOSING money either - not good enough I know - but at least I’m learning WHEN to NOT be in the market and WHEN TO GET OUT AND STAY OUT!!!
Regards,
Dale.
Dale
look to the graph of MT4 Interbank
No switch in PSAR…
The result of any system depends a lot by the data provider!
Some EA working with one btoker doesn’t work with others. They make me mad!!!
Claudio
This brings up a question I have had before - when using a forex broker, are we getting real forex quotes, or are the prices we see adjusted by the broker? This could explain why different brokers produce slightly different entry signals. In other words, both signals could be valid for entry/exit with the broker that produced them.
Hello guys,
Now i think i do have some vailed entry or i will wait till it be confiremd when the day will be done.just wanna tell u about them so that u can check them out
1-USD/CAD long (MACD NOT CORSSED YET BUT THEY R ABOUT)
2-EUR/CAD Long (MAC CROSSED)
3-GBP/JPY long (MACD CROSSED FROM LONG TIME AND BESIDE 0) I THINK THIS ONE IS NOT VAILED
4-Gold short (MACD is crossed)
5-CHF/JPY long (MACD CROSSED LONG TIME AGO AND BESIDE THE 0) I THINK THIS ONE TOO IS A FALSE SIGNALS.
so any thoughts?? any one share this with me are welcomed
Regards,
Akram
Before I read this whole thread, I got excited and jumped the gun. I looked at all the indicators and decided I would enter late on a couple of trades just to see what could happen… since I’m just using demo accounts on MT4 anyways. I went in late on USDCHF and AUDUSD. Currently AUDUSD is doing really well and showing it will continue that way. USDCHF was doing well but is now showing that it may change directions. This is where I can see holding until the PSAR shows change can be pretty hectic. Since I did get in late… way late… I am losing out on profits. If I got in late, but an earlier “late” spot, I can see where on this run it would’ve been okay and I still would’ve made a profit.
Last night, I also jumped on USDCAD and am having those “second-thought” feelings. The whole feelings thing again. But I will wait it out and see. Wait for the PSAR!
While trying to sleep last night, my thoughts were spinning around charts and things… hell, I think I even dreamed about FOREX last night… I was realizing how demo accounts can be so different from live accounts. With a demo account, I am still using a bit of caution on making decisions, but I can still go to bed at night without worry. I can really see how on a live account, one would would want to check the charts every 5 minutes and close out funds the second something appears wrong. This is obviously how people either lose or don’t gain enough money doing this. Maybe if I demo this enough, I will train myself to wait and gain patience.
Trust in the PSAR (as long as you get in earlier). The PSAR is my friend. I am a PSARist. 
We are The PSARist Consortium. 
PROFIT Group - PSAR Research on FOREX International Trading… Man, I’m on a roll with this naming thing.
Akram, which broker are you with?
The reason I ask is that I thought you were with Delta - and I’m not seeing the same things you’re seeing at all.
USDCAD:
MACD FAR from crossing
Possible PSAR tonight
RSI < 31 BUT turning down
ADX = 53 going up - need to wait for first turn down
Stochastics < 20 also turning down
EURCAD:
MACD NOT crossed and looks like it’s turning away and close to zero line
Definitely NO PSAR tonight (unless something ‘drastic’ happens in the next three or so hours)
RSI = 41 and turning down (me - RSI > 70 or RSI < 30 before trade)
ADX = 26 going up - but between -DI and +DI (me - no trade)
Stochastics just above 20 - no problem
GBPJPY:
WOULD NOT TOUCH WITH A BARGE POLE!!!
MACD crossed AGES ago - normally should not make a difference
RSI = 52 (no trade for me)
ADX = 9 - pair is range bound for sure
Stochastics just below 80 (again - no trade for me - especially not long)
Gold:
MACD not crossed
Everything else ‘in position’ though
CHFJPY:
Too late in my opinion
Problem with this one is that if you look back at when you actually got the PSAR signal MACD had crossed as well BUT look at where RSI and Stochastics were at the time. I would not have taken the trade BECAUSE of RSI and Stochastics BUT it would have turned some good money up until now had you entered based ONLY on PSAR and MACD BUT let’s see how this one ‘pans out’ when it reached ‘PSAR maturity’ - I’ve a feeling that this one if POSSIBLY going to just break even on the daily.
Also - something else I just noticed - ALL of the signals are false in my opinon because of the huge ‘gap down’ and then the ‘gap up’ the very next day i.e. this has ‘confused’ the indicators in my opinion.
I DETAILED what I am now looking for just so that you can see how I am applying our ‘new rules’. Like I have said before - I may not be making money - but I’m not losing either - and I REALLY believe in these ‘new rules’ of ours i.e. I am studying the charts all day every day and applying these ‘new rules’ to past trades and they MAY keep you out of a lot of trades but the ones that you DO take are going ‘big’ from what I can see.
Dale.
Here is what I’m showing… to compare with MT4
MACD not too far from crossing, bottom line showing it may go up for a cross.
RSI < 30 and turning down
ADX = 46 and level
Stochs > 20 and heading up at a pretty good grade… ?
added image below to compare…
Dale,
I am with STIFX i do have some PSAR showing up and down on the pairs i mentioned but i am still watching them as it is not closed yet.I know we have to stick with lots of indicators but i feel that MACD .RSI AND PSAR is enough other wise i will have to wait too much to have a vailed entry and with these indicators it will be 75% not like all the indicators that u mentioned before which is 100% but u know i got board i need to trade other wise i feel i will be out of market which i don’t want to do right now.
Delta i have no problem to open with them but i am still trying to figure out there platform but i feel if most of us who is following this indicators we should stick to one broker to help each others.that will be very soon Dale when i feel i am 100% sure that i understand the platform
So Dale u have any opened postions yet??? what do u have?
Regards,
Akram
No - not one - nothing (well - not forex anyway).
I’m ‘pissd’ off right now though - Oil just cost me a couple of USD shy of $2K!!! And to make matters worse - EVERYTHING was perfect i.e. Parabolic SAR, RSI, Stochastics, ADX - you name it - PERFECT!!! I suppose you can’t 'win ‘em all’!!! 'Fucing hurricanes’!!! My fault though - I chose to ignore the Parabolic SAR stop and let it run THINKING it would not go past it’s previous high of a couple of days prior - WRONG!!! Anyway - I’ll get it WHEN it comes down again!!!
Made ‘a bit’ on Gold today though (not a Parabolic SAR trade).
Anyway - I’m staying out of forex until next week though - unless something ‘REALLY SPECIAL’ comes along.
I still be checking my ‘wishlist’ tonight though - you never know.
Regards,
Dale.
Not to ‘change the game’ or anything - but now that Delta is live with CFD’s, Indices, Gold, Silver, Oil, etc. etc. you ‘guys’ should take a look at things like the Dow, S&P, Nasdaq, DAX, FTSE, CAC, AEX, ASX, Hang Seng, Nikkei, MSCI Taiwan, etc. etc. etc. (although I don’t think Delta offers the Australian and the Asian Indices).
(Notwithstanding my recent loss on Oil) ALL of these indicators were DESIGNED for these instruments. If you want to see a thing of ‘absolute’ beauty - take a look at Parabolic SAR on the Dow and the DAX for the last couple of weeks. Also - these things trend FAR more often. Also - these things are ‘regulated’ unlike forex.
Just a thought.
Regards,
Dale.
Hi again
I’ll probably end up randomly posting my thoughts as they come like you all have been doing. I think by doing that, it puts our heads together so we can see what we’re all thinking and maybe create ideas out of it all.
Anyway, I just wanted to reinstate statements that I know have already been made, but am mainly doing this to see if I grasp everything. My open thoughts to you.
When thinking about the method and how it has evolved, I think it has evolved in very good ways. Essentially it is still the same thing… simple. The point was to show how one indicator (albeit a very good one) can be utilized to realize profits and it was realized that it can. In a sense, we are still just using that one indicator. Just that now, we have assurances that will help in gaining an early assessment on the way things are going. We can now even look and say, okay this is moving in this direction, I better keep my eye on that. Or at least you have a better idea of where it is all going. It is like driving an old car with a GPS system installed. An added bonus. However, and this is just how I feel, one should still know how to read a map or even the lay of the land to find their way, even though they now have this technological advance. Knowing the older, basic ways of doing things gives you more wisdom and a better understand of the process at hand.
PSAR can be used alone. When used alone with knowledge on how the market runs and such, one can really benefit from it. Now that other indicators have been added, I think the system is even better and continuing to become better the more everyone grasps and understand what is going on. The system is still simple. There are really no calculations involved. It is almost an automated system. All one has to do is find the PSAR point, check its accuracy, double check it is going in a good direction on a good trend, and place the order. The trader then has the choice on how they want to monitor it. You could “fire and forget” or come back periodically throughout the day to see the progress or make adjustments depending on your trading style. That is what I like. The option to trade how I see fit. You don’t have to be tied down to the computer if you don’t want to.
What drew me to this thread is that at about the time I found it, I had realized something about my trading style and trading the FOREX in general. I started trading based on the time of day, doing short trades in a short period of time making $10 here or $200 there. That may work for some, but it wasn’t for me. It was exciting and got me more interested, but by the end of the night (2am MST), I would close out and take my “profits” (demo). I would wake up the next day (missing the all important overlap period of New York opening and London closing) and see where the trend went and realized, well ****, if I left my position open, I would’ve made tons more! So I started thinking, how could I find a way to leave my position open and be sure it was a good time to do so. Then I found this thread and everything changed for me.
So, I just wanted to share that. I know, Dale, that after reading through this thread, every so often you start doubting your system. Then you realize it works whether you made a profit or not. And then down the line, you start doubting it again. Well, I guess I wanted to share this cause I don’t want you to doubt your system. PSAR will always be the same and take the same actions, it is mechanical. We need to realize that and stop adding the human element and feelings. We almost need to become like machines and trade without feeling, just follow the trend, follow the machine, and reap the benefits no questions asked. Funny for me to say cause I consider myself non-conformist. Now I’m trying to put myself in as another cog in the machine! LOL At least good profits come out of it.
But thats just it! (sorry, thinking as I type) This whole trading thing would be more systematic and exact if there weren’t any humans involved. It is human action that makes the system as a whole do funny things. The market is always going to do funny things, but it is a system like the PSAR that helps us figure out how to get in and gain profits off the funny things that happen.
Okay, I don’t know if I’m going anywhere with any of this. So I think I will stop now.
Take care,
Rob
Dale,
how u trade the Dow, S&P, Nasdaq, DAX, FTSE, CAC, AEX, ASX, Hang Seng, Nikkei, MSCI Taiwan, etc. etc. etc.? i mean do u have it on the same platform for delta like the forex??can u tell us more about that?
Regards,
Akram
Ditto Akram.
I’d like to know how trading indices and other commodities works - I’ve only explored forex. Also, I’m starting with a very small purse and it looks like Oanda is the only reputable broker that will allow $1 trades - what are Delta’s minimum trade and account sizes? And how strong are they financially - since Oanda had a $100MM capital infusion recently I feel very good about getting my money out of them.
robstyle1980:
WOW!!! That was a great post - and thank you.
Being ‘non-conformist’ myself (as you have no doubt probably gathered by now) I HAVE found it VERY difficult to become a ‘mechanical’ trader BUT as I have mentioned on more than one occasion in this thread - ‘the market’ sure has a way of ‘leveling the playing fields’ and ‘humbling’ a person - that’s for sure!!! It’s also ‘forced’ me to become ‘disciplined’ (believe it or not - even on my ‘drinking’ nights)!!! I NEVER miss updating my ‘wishlist’ at night (Delta charts) or ‘maintaining’ my other systems (for the Indices etc. etc. etc.) in the morning. This is really something for me i.e. I’m one of those people that will be late for everything - no matter HOW much time in advance I’ve had - but - like I said - this business sure has taught me and will continue to teach me a lot about myself - and what I’m capable of IF I apply myself.
Anyway - I really like your analogies - especially the ‘GPS’ one and the old car - very ‘apt’!!!
Thanks for your thoughts. I really think that this is (possibly) what makes this thread ‘different’ from any other i.e. we have a sort of ‘repoir’ going with each other here and there is a sort of ‘open honesty’ that manifests itself here - and I think it’s very important i.e. even the most ‘mechanical’ of ‘systems’ can fail if you are not ‘mentally conditioned’ and this thread offers much in the way of ‘emotional support’ if I can put it that way (for me anyway).
Akram:
OK - well - I trade all of those instruments (my ‘main business’ I suppose) at GCI Trading. Delta has just gone live with most of the instruments that I mentioned though so I will be trading them at Delta as well just as soon as my new (revised) Customer Trading Agreement has arrived back in Bulgaria (they will not allow you to trade with them UNTIL they have the original documents due to legislation and there is an additional agreement that now has to be signed in order for you to be able to trade the new instruments) - which should be by tomorrow morning. There are ‘subtle’ differences though i.e. stocks etc. etc. are not as ‘choppy’ or ‘fickle’ as forex (at least that’s my opinion) i.e. they seem to be a lot more ‘calm’ or ‘serene’ (I’m not quite sure how to get my point across here). And yes - you trade them on exactly the same platforms exactly the same way (OK - YOU know that I use the trading systems in ‘New Concepts In Technical Trading Systems’ for trading these instruments BUT I also do use Parabolic SAR and ‘our system’ and it seems to work EVEN BETTER on these type of instruments). I’m not advocating that anyone ‘drop forex’ but - for me - remember that when I started this thread - I had a little bit of money at Delta (where I could only trade forex) and pretty much just ‘took a chance’ one day with Parabolic SAR and that ‘rekindled’ my interest in forex trading and the idea was to just let my forex account ‘handle itself’ while I concentrated on my ‘real business’ of the Indices BUT - mainly because of this thread I suppose - I’m now dedicating a lot of time to forex trading.
Regards,
Dale.
Sorry dr_zeus - ‘overtyping’ each other again.
Delta’s minimum account size is 100 USD/EUR/GBP and their minimum lot size is 1000 (and you can change this on the platform yourself so when your account grows you can increase the lot size proportionately yourself). Also - they are governed not only by Bulgarian law but by EU law as well (there is a whole lot of information on this on the ‘Rate my broker’ thread on babypips - just look for my thread called ‘Delta Stock’ and everything you need to know is there).
Regards,
Dale.
Thanks for the reply, Dale. I’ll check them out.
Did anyone else get in on EUR/NOK today? 267 pips! I’m beginning to wish I had put real money in instead of a practice account.
so usd/chf is not in your watchlist? seems to be almost “psarred” and with macd going to cross… or am i wrong?