Parabolic SAR - that's all!

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725

Originally Posted by dpaterso
Sorry forexology, we were ‘overtyping’ each other.

(And you edited your post so I did not see the edit until now but I did respond to your ‘original’ post above).

OK - well - as far as ‘swing trading’ is concerned - I stand corrected - and - you are right (see how ‘humble’ I’ve become)!!! I was alway under the impression that ‘swing trading’ was like ‘trading the daily swings’ but they way that you explain it NOW makes sense to me. Thanks.

I have TRIED using pivot points to trade before (it’s detailed in one of my trading books) but I’ve always ‘come a cropper’. The way it is detailed in one of my books is that the price of an instrument will trade between S1 and R1 on daily basis and the S2 adn R2 are supposed to be the ‘dead low and the dead high’ of the day blah, blah, blah. EVERY time I’ve tried this ‘method’ - guess what - the price has ‘rocketed’ right through to S3 or R3 and beyond (‘to infinity and beyond’ - every watched ‘Buzz Lightyear’?)! On the other hand - I’ve never thought of using them to ‘take profit’ - keep coming with more details on this idea.

SOOOOO - you’re in Jamaica!!! Man - my mouth is watering already!!! Actually - I KNOW YOU can answer this question: is Captain Morgan REALLY made in Jamaica or is it just some ‘bullsh1t’ advertising??? I know this happens because we used to have cigarette adverts here depicting the ‘wild west’ in the USA or the ‘jetset people’ in the USA AND THE AMERICANS HAVE NEVER EVEN SEEN OR HEARD OF THESE BRANDS - EVER!!!

Regards,

Dale.

[B]Dale:

Still not researched the Captain Morgan thing yet. I rather suspect it’s just marketing gimmick but let me do some basic background checks. Real Jamaican rums I know are Wray & Nephew and Appleton. You want to look for Appleton.

If I told you who I really am you are going to get all righteous on me so I’ll break it gentle… I dont drink because its part of my life philosophy, health reformer and all. Gentle gentle I break it.

My music? I love music but I’m tone deaf so I bang the piano for family worship since the kids wont use up the music lessons.

I love soccer. Heard of the Jamaican Reggae boyz who went to France 98. I was there in the stadium. Of course I can barely keep up with my 9 year old son when we play on the lawn but its the best time of my life when I play soccer.

South Africa 2010 watch out the Reggae Boyz are now coached by Bora. People think he is overrated.

Back to forex:

Take a look at the 4 hour pivots when you are day trading or when you want to exit a PSAR trade. Watch for the price moving towards a pivot point in a trend, and take profit at that pivot point. There is more to it but I need my friend’s permission. Watch the price action, determine market direction, then look for the pivots to make certain decisions. Seems Peter Bain is right.

 [/B]
726

Bocajunior,

So this name is for a football brazilian club so u r a fan for bocajunior???

Well i saw the graf and we both have the same vailed entry for EUR/GBP to go short i think i will take it tonight.And yes MACD is french kissing now!!!

As fir the RSI i don’t want really to bother my self with lots of indicators i am just looking for 3 indicators onlly and some times 2!!!

the GBP/CHF is a fantastic postion but i don’t know why my indiactros are not like yours on these pairs but i think i will take it if i am in your postion.

Regards,

Akram

727

Akram,

Yeah, I like Boca Juniors (Argentinian Team), they’re one of my favourite teams. Of course the great Diego Maradona used to play for them!

I think I had this issue with Dale last week regarding how the charts are showing different indicators differently depanding upon which broker is being used and we never really got to the bottom of it. But from my stand point, EUR/GBP Short and GBP/CHF Long look like valid entries in the making.

Regarding the use of indicators, what i am doing is setting up my chart with MACD and PSAR on it as this leaves it nice and clear. If I see a valid entry on these two indicators, I quickly switch on the others suggested here (RSI, Stoch, ADX) to see how they line up.

Tomorrow is a holiday in China, Hong Kong and Australia so it could be a slow start tomorrow morning. Lets see how the position goes.

Best Regards

728

Hi Guys and Dale,

I have just recently started to read this thread and I am really enjoying it.
I would just have few technical questions to all you guys and Dale in particular.
So here it comes:

  1. I have noticed since the beginning of the thread that the system was based only on Parabolic SAR + Daily / Weekly / Monthly Charts, means when the first dot appears we either enter or exit the trade. After sharing all the ideas and the opinions, is it still the only rule or there are some other indicators or factors in addition to Parabolic SAR that we should use in order to be more precise.?
  2. How to avoid the situation when the first dot appears and is the only one or there are two and then the next dot appears to the opposite direction -> would mean that we would loose some good amount of pips.?
  3. What are the parameters that you are using in Parabolic SAR?

I am very new to this business and that is why my questions might seem to you naive or nonprofessional, but would appreciate to get any help from you and some answers to my questions would help me out a lot.

Thank you,
Best regards,
Timbaboy

729

Hey Timbaboy,

If you look at page 46 of the thread, post number #454, I believe there is a post there summarising the use of other indicators along with PSAR. These are deisgned to try and limit the scenario in item 2 of your post.

PSAR settings are the default settings on most platforms (0.02, 0.2).

I know there is quite some reading there but you’re going to go over it to get the most out of this and see what has been discussed before.

Hope this helps
Cheers

730

Bocajunior,

thanks for telling about the vaction u guys have in the far east…That will make monday very slow.Any ways i will open this postion and let us see but again i am afraid from the British Intrest Rate as most of the people are saying it will be dropped down so that means it will not be in our faviour for the postions we r talking about!!

Dale weekend is about to be finished my friend u should be prepared now for a nice profitable week!!!

Regards,

Akram

731

Hey Bocajunior,
Thanx for the info, I have just read till page 52 and boy it gets complicated page by page :slight_smile: I guess there is no perfect solution found yet.? But wait, I haven’t finished reading yet :slight_smile:
I still have some difficulties of understanding the MACD, how does it help and work.?
The most easy way for me is to read the Stochastics and RSI when the first Parabolic SAR appears, I don’t know how efficient is it, what do you think?
And the other thing I have noticed in my MT4, when changing the parameters of Parabolic SAR to 0.01/0.1 it gives less noise and no false 1 dot signals, what do you think about that?

Thanx again,
Best regards,
Timbaboy

733

I know once I said Reggae Boyz spelt with a ‘z’ everyone said oh Bob Marley. The Jamaica Senior National Football (Soccer) Team is called the Reggae Boyz. They had a dream run to qualify for the 98 World Cup under Brazilian coach Rene Simoes.

Where is he now?

734

Greetings and welcome Timbaboy!

There is a great post on page 46 of this thread that summarizes in great detail the specifics of this system. I think a lot of your questions will be answered there.

But don’t stop asking them here, though! We will all help and soon you will be getting into it and helping to make this the system of the century. In fact, you already contributed in your last post. I’m actually going to plug those numbers in to the PSAR and see how it goes this week.

To be honest, I took the basic rules of the system and have developed my own way of looking at things, which is how I think everyone is kind of doing it. We all follow the basic system rules, but kind of adapt to our trading style. For instance, I use the PSAR, MACD, Stocahstics, and the Alligator. I’m using demos on MT4 so I can practice the system before I go live. I watch for a dot to appear and I look at the Lips (green line) of the Alligator to see the direction they are headed. I then check for the MACD cross, that is when the fast line crosses the signal line. Must always wait for the cross to confirm, not if it “looks” like its going to cross, I learned that lesson just recently. And then I just confirm with the Stochs, the direction of the trend. So far this is my basic routine. I’m still evolving upon this routine and I may add another indicator or not.

I’m a very visual person and can get a good idea of how things are going just by looking at the indicators. Thats why I like this system because I can quickly look and visually see whats going on as opposed to crunching numbers and watching candlesticks melt and dance all day.

LOL I just noticed Bocajunior already said to look at page 46… oh well, I’ll post it again anyways!

Have a nice day!

Rob

735

Hi Rob,
Thank you for your reply,
I have just attached a screen shot for the current EUR/GBP position.
As you can see there, the 1 SAR dot is there, the Stochastic looks good (between 100-50 and looking down), the RSI looks good (between 100-50 and looking down), and for me this would be enough for a good sell signal, what do you think, is it a good sell signal?
Could you please explain me from the picture that I have attached the MACD indicator, how should it cross, because I still don’t have an idea about it’s functionality.

Thanx a lot guys for your quick responses,
Best regards,
Timbaboy

Sell.jpg700×387 66 KB

736

Hello timbaboy,

Ok i saw your graf that u attached unfortunatly i posted this before.As u use MT4 like me when we say MACD crossed that means another indicator that posted 2 weeks ago it is a ziped file that u have to download and unzipped and put it in your indicator list and apply them in your platform that will give u an idea about the MACD when we say crossed or kissed coz this one u r applying to the MT4 is just 1 line MACD u need to have the other file where u can have 2 lines that corss each others to confirm the trade please read the thread carfully and be aware that this file i puted before and i said how exactly u can apply it in your MT4 platform.

Please feel free to contact me if u have any other questions and beaware that most of the people who is following this thread doesn’t have MT4 so the MACD that they are using through there broker is already 2 lines not like us!!!

Have good day.

Regards,

Akram

737

Good evening ‘dudes’!!!

I’ve been parting my ‘ar*e’ off since Friday - so - pretty fragile at the moment.

I must say - I feel kind of ‘guilty’ tonight i.e. so many great posts (especially the ones about music and all - thanks for sharing everyone) and I feel like I’ve neglected you all!!!

Anyway - just thought I’d ‘drop’ this post in quickly - you know - to let you know I’m still here!!!

I’m going to sit down now and go through my ‘wishlist’ for the week and - if I find anything ‘special’ - I’ll let you know.

Let’s hope that THIS month brings us good fortune (not like last month) and many profitable trades.

To be honest - I’m keeping a VERY close eye on the Indices at the moment - man - these things are getting ready to drop BIG TIME (and - UNLIKE WITH GOLD - I’m USUALLY on the right side of these trades)!!!

‘Speak’ a little while later.

Regards,

Dale.

738

I am looking at EUR/GBP as well. Any problems with this trade? MACD lines are in fact crossing. Let me know your thoughts?

739

Welcome back Mr. Explorer!!!

Take some brake man and check my questions if u have time and answer me back

Thanks

Akram

740

Larryfp,

I think this trade is vailed but the only problem i think at th moment as i said before is that i am afriad that next thursday UK will drop there Intrest rate so my thought is to go for short from today till Wednesday and i will close it then i will go long!!

Akram

741

Thanx a lot Akram and the guys for your replies,
I will be following the thread closely and will try to apply the zipped indicator, will see how it goes then.

Thanx again,
Will talk to you soon,
Best regards,
Timbaboy

742

Timbaboy

u r welcome if u need any help just ask and we will help u

Regards,

Akram

743

Hey folks,

OK - well - not a good start for me I’m afraid.

I don’t see ANY valid entry points.

The only two ‘possibles’ for me are EUR/RON and GBP/CHF but the price of both of them have moved too far too quickly to generate a Parabolic SAR entry / reversal signal for my liking (if you can remember a while back - one of the ‘new rules’ that I was ‘toying with’ - was to see if it would be ‘prudent’ to take a trade when the price has moved more than once or twice it’s 14 day Average True Range since getting the reversal signal and on both of these pairs the price has moved far more than that so I don’t find it ‘prudent’ to take either of these trades).

EUR/GBP - no MACD cross for me either.

There are a whole of ‘possbile’ upcoming new entries on my ‘wishlist’ but nothing ‘concrete’ yet (and what’s worrying about these ‘possibles’ is the fact that they are mostly USD/??? and if the USD continues to drop the way it is then they are going to remain just that i.e. ‘wishes’).

To be honest I DO have a feeling that I’m being overly cautious at the moment i.e. there are one or two trades that I missed last week that I see would have turned a very nice profit up until tonight but having said that ‘it’s not over till the fat lady sings’ and although those positions would be in a profit right now I have a funny feeling that they will not make it ‘out of the stable’ i.e. they will reverse and at very best case you may break even before getting stopped out by Parabolic SAR. I list these trades tomorrow for interest sake.

Anyway - no point in sitting around here waiting for nothing to happen - so - might as well get a relatively early night - and I’ll post my thoughts / give my input on all of the messages that have been posted here in the past day or two.

Regards,

Dale.

744

Hey all

Okay, I looked at EURGBP and I think this is a perfect example of when to get in. Good one Timbaboy!

I posted an image showing what I see as of 5:30(ish) EST. I use very “technical” terms while illustrating the points you need to watch out for. :rolleyes: Typically this is what I see for me to get into position. You could even wait another day, just to be sure… but since the marks are already there, I’d go ahead. If I was trading live, I would probably go ahead with it as well.

Good luck… hope my image makes sense.

Rob

eurgbp9.30.jpg700×525 59.5 KB

745

Hey Rob,

EUR/GBP i already jumped on this postion i feel they meet our system requirnments! i am short now so let us see what will happen on these pairs

Akram