Have to go for one more. Short @ 1.12989 10 pip sl, 17 pip TP, should of targetted 15. Now I’m going to have to manage the exit.
Out by the time it takes to post @ 1.12905 9 pip gain.
And sometimes it’s the gift that keeps giving. Short @ 1.12974 Tight stop at 35 points open TP see what we can get
And out @ 1.12885 just got 10 pips thats all one needs
36 pips for the day equals 7.2%, good end for the week.
Not like this all the time, as you all saw, it was hard work at the beginning of the week.
Hi Bob,
Found my way here, I guess this is the thread you mentioned? I will start from the beginning and read through and come back…
Hi again, Bob
I am very impressed with the thoroughness of your analysis and the method you have developed as well as your openness in talking about your own experiences with it. This really shows how much variety there is in trading approaches and, in particular, how much it depends on the trader themselves to succeed. A good system is never a good substitute for a poor or lazy trader.
At my stage in my trading career I would not find any more the ability to cope with the apparent intensity in watching for such fast action. I am, in fact, leaning more towards TFs of 1H and more. But in answer to your question about using these techniques with the ribbon method, I see no reason why it would not work, except that the ribbon is more erratic on short TFs and I guess the same result could appear whether the bars are formed with mins or ticks. I don’t have a tick feed so I cannot try it in practice.
(BTW your input to this site in general is tremendous and very valuable. There are some great people on this site who together provide the diamonds amongst the dust - you are one of those, thank you!
Good achievement I think, than making loss will good if we can maintain profit consistently, for me still so hard to making consistent profit, but I like with use simple chart using naked trading analysis to trying making profit from trading
Coming to the realization that you need to be true to yourself and that doing what everybody else does is probably not a good idea is one of those turning points IMO. This is me and how I trade is just reflective of this fact. It’s one of the few advantages we have as armchair traders, there are no rules. No right no wrong. Just your way. And a lot of hard work.
Losses are par for the course and again IMO one of the hardest lessons to learn.That’s why we have to stick to what ever plan we have developed. That, over time, gives us the confidence to trade our systems.
But I have a very special gift for all. The result of my hard work. It’s a custom indicator I have just finished developing and I call it “Market Blend”. Now, keep in mind I have developed it specifically for tick charts. In my eyes, time-based charts are distorted because of volume. By eliminating this distortion one can more accurately measure what the market participants are doing. And let’s face facts, participants are only doing one of 4 things, buyers enter and leave the market, sellers enter and leave the market. The result, price goes up, price goes down.
This clever little indicator tries to map that activity. Not going into how to use it, those who are clever enough can ask questions. This is it in action
Those also clever enough will see a new panel in the screenshot. This is the start of my trading bot. The bars are just a histogram of the Market Blend indicator. But the boxes are now linked to the indicator to advise in trade bias. I have also included that in the goodie bag. Again anyone with the skills should be able to tell when I’ve entered, and why a added to the position.
Finally, here’s why I’ve got the confidence to let a winner run - boxes never lie and now I know what the players are doing …
Gift.zip (48.4 KB)
even though you wernt nice to me at start i’ll show respect for what i see nice indicator but the line should go threw the centre for better results, cheers
go threw straight threw the guts of a trend , your indicator will be better
Price Action / BreakOut Indicator for cAlgo forex trading
price action indicator improve ont hat the line threw the guts you see
Many of us weren’t, and with just a little sensitivity and perceptiveness, you might want to start asking yourself whether [I]something about your behavior[/I] here caused so widespread a reaction to yourself, while it didn’t to others.
You also have [U]no idea[/U] what you’re talking about, at all, but that’s an entirely different matter from the one mentioned above. :rolleyes:
Welcome bro. Lines are lines and are there cause they look s|e|x|y. Trend lines, channels, linear regression all paint the same picture and I believe you know that. Well done on you AU trade recently. Tells the rest of us you do have some skills.
However, I have studied in the past the indicators you’re advocating and they hold no special powers.
More than happy to have you contribute but read the whole thread first and then don’t spew forth the garbage you are leaving throughout the forum. From what I’m reading you lead a very shallow empty life. One good call amongst empty garbage bro.
And work on your spelling/composition.
the only indicator i advocate for is investing.com so they dont have to pay for it for newbies
and comon now gbp nzd said down gbp usd said up eur usd said up.
comon now let go of your pride , i put out the hand to shake
more than happy for me to contribute i’m not into patronising how much do i have to smash it
It’s not me you need to make piece with bro.
anyways i liked your indicator
cheers
Now that that fool has been taken care of here is the original post before the nonsense happened. Use the link to go back for the free gift
Just a bit of follow-up. Spotted this set up during my lunch break. Whacked a short on, 16 pip stop, ran through for a 48 pip gain, 3:1 return not bad for 4 hrs work. I’ll get the trading account back up in no time at this rate. There simply is no other way one can get these kinds of return. Be brave people, download the indicator, it’s very powerful and its free.
Also note the blue trend line from yesterday. Think I drew it in exactly the right place.
Hi bob, just read through your post and like your trading idea. I am still as always trying to work on my trading and always am looking how I can try to filter my trades during changing market conditions.
Can your tool be adjusted to work in the same way as it does on the higher timeframes 5m 15m 1h etc?
Thanks
There’s no reason why it shouldn’t bro. Nothing special about the formulas used inside. It’s all based on price vs time not some magically mathematical algo.
I couldn’t recommend look-back periods settings cause I don’t trade standard timeframes. But I have experimented and it shows potential as an MTF filter. I’d look at around 50 for 5min,15min and 30 min charts. 20 for higher.
Best of luck with it, hope you can take the time to report back if you have any success or fails with it.
I like to use 1H timeframe usually to analyze and identity the current trend on the day, and then will use 15 M timeframe to look support and resistance neared, usually I put strict stop loss on these area