I think @The_Baller strategy is more for the monthly really. The daily jumps around. My SL on the AJ, for example, is around 77.
No not really it’s a safe haven currency. Stability looks like it’s coming across the horizon with US/China and Brexit so JPY is kinda morphing down close to it’s real value. Picked up too many pips on longs with USD/JPY, AUD/JPY, & CAD/JPY. Got to look at the bigger picture.
Here’s your link to Ehlers Two Pole Super Smoother Filter for MT4:
Apologies, that link was for the entire thread, this is the actual link :
Ehlers Two Pole Super Smoother Filter.mq4
Cheers.
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Cheers man. I was getting confused with IC 
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I feel your pain. It’s not your fault because trading is difficult.
I’m into intraday penny stocks trading and I have huge faith that it is profitable if done the right way. Overwhelming evidence and numerous examples of successful youtube traders is available.
Not sure what you are saying here Momoisnyc? AUDJPY has dropped from 89.108 in July 2017 to 74.180 levels currently?
Sorry for my confusion.
Thanks. I loaded it onto mt4. So it’s a single line indicator and we buy or sell when it crosses the price action? Don’t know much about these things!
Yeah that was in 2017.
The recent long positions I’ve taken on AUDJPY is within the last month and a half. Generally speaking the long term view is bearish on AUDJPY.
Hi, you’re most welcome. That is correct, basically, within The_Baller’s strategy, it could be utilized for timing the entries/exits in a a bit more surgical way, if you like. I have been testing/using it like I first check the conditions that’s been laid out by him on the monthly chart and, say, it looks like a short trade. Then I would switch to the Weekly and see whether the last candle is red and it has pierced the mentioned baseline (or maybe even underneath already). If so, we’d be good to go. As I had mentioned before, I would add a 50 SMA (Simple Moving Average) for extra precaution to the chart. For our example, I wouldn’t pull the trigger unless the candle is under the line, this would ensure you’re not going against the trend. One last thing, I keep bumping into comments here and other platforms, people trying to figure out their entries/exits on 4 Hour charts in a swing environment. To me that is shooting yourself in the foot as there would be retracements coming left,right and centre, absolutely no need, imho. If you’re riding your trade through the Monthly chart projection, the lowest time frame I would go down to would be the Daily.
Best.
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Use your volume indicator and look for the “pump-and-dump!”
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Hello everyone, I had planned to write in this thread once start to trade, I am a complete newbie …
But I have a problem with the Ctrader platform I find it impossible to view the full monthly chart in all years since the beginning of the pair, I pressing all the possible buttons but the result is the images below,
does anyone know how to solve it?
I want to see the bigger picture, Thank you!
As this is becoming a proper swing trade chat (or maybe not…), I would also like to share something I’d learned form Kreil’s Masterclass a while back: using the COT Report to gauge how the institutions are taking positions towards currencies. This report gets compiled every Tuesday but released on Fridays. It will add a very powerful weapon on your swing trade arsenal (quite possibly the most effective one, I would say). It seems a bit daunting at first but one gets used to it after a short while. So let’s begin:
- Go to this site:
Historical Compressed | U.S. COMMODITY FUTURES TRADING COMMISSION - From the ‘Market Data & Analysis’ tab up on the middle, select ‘Commitment of Traders’, which should be this:
Commitments of Traders | U.S. COMMODITY FUTURES TRADING COMMISSION - Then scroll down till you see ‘Current Legacy Reports’ and from there, choose Chicago Mercantile Exchange’, ‘Futures Only’ - Short Format. It should bring up a page like this:
CFTC Commitments of Traders Report - CME (Futures Only) - You are looking at all the compiled futures contracts officially listed weekly on CME, looks daunting but is simple once you know what you’re looking for.
- Scroll down till you get to the currencies bit, you’ll see three sub-sections which are ‘Non -Commercial’, ‘Commercial’ and ‘Non-Reportable’. The last one, the ‘Non-Reportable’ is us, the retail lot (of which they call ‘stupid-money’). The one we are interested is the ‘Non-Commercial’ tab. These are the big boys, i.e. institutions, hedge-funds and the banks. ‘Commercial’ ones are the investors and private companies.
- Underneath the ‘Non-Commercial’ tab of each currency, you’ll find net long and short position totals that the big fellas have opened. The way to use this report is, depending on the pair that your’e planning to trade on, simply compare the long/short positions of each one. The bigger number shows the sentiment of which you might consider taking a position along.
This report is the backbone of the fundamental gang. Hope this helps your swing trading perspective.
Cheers.
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Does this mean that outside of this experiment you don’t trade your own or investors money this same way?
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I think @The_Baller 's “gamble” was whether or not he could make serious money on a 10k account - not a gamble that this strategy would work or not.
If he wasn’t sure if his strategy would work or not, he probably wouldn’t have taken this “gamble”.
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Nice thanks. This COT is also one of the first BP lessons
Not sure if thats the case from reading the thread. Feels like he is alot more active than he would be with his clients accounts after reading some of his other posts here. Just interested as to whether he uses the same strategy and just holds longer or if this strategy is completely different to what he uses for his clients.
What period are those contracts weekly or daily please
Those are weekly, compiled every Tuesday but only made public on Fridays.