The FOREX master pattern

Place your new trading idea here to see if someone can automate it.
szfxtrader
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The FOREX master pattern

Post by szfxtrader »

I was watching this video: https://www.youtube.com/watch?v=E-HRjjWQk6M

Now, I would like to ask for the help of a coder that can code an indicator to spot the contraction phase(the box), normally after the accumulation we will have a good movement, thank you in advance!
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SteveHopwood
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The FOREX master pattern

Post by SteveHopwood »

I managed to withstand about a half of the video. That was better than most of such videos. I usually last less than half a minute. :lol: His voice did eventually break my spirit. As usual.

The guy is promoting a range breakout system. OK, so he describes this stuff differently, but that is what he is doing. And I bet ten quid of mine to one quid of yours that he is cherry picking his chart setups.

In essence here is what he is saying: the market will range for a while; then it will break out of the range and go off in one direction; then it will bounce back.

Yeah, we kind of learned that over the years.

Peaky is quite handy here. Peaky tells us where the markets are heading on any time frame you care to view. Eventually. Eventually might take a while to arrive.

I could go back in time and pick hundreds of cherry-picked charts to back up what I write about this stuff. Life is too short to bother.

I do not say that the guy is wrong, just that we already know this stuff. Mind, don't pay for anything he is likely to try to sell; it is already available for free here - just in a different format.

:xm: :rocket:
Read the effing manual, ok?

Afterprime is the official SHF broker. Read about them at https://www.stevehopwoodforex.com/phpBB3/viewtopic.php?p=175790#p175790.

I still suffer from OCCD. Good thing, really.

Anyone here feeling generous? My paypal account is always in the market for a tiny donation. [email protected] is the account.

To see The Weekly Roundup of stuff you guys might have missed Click here

My special thanks to Thomas (tomele) for all the incredible work he does here.
szfxtrader
Trader
Posts: 352
Joined: Sun Feb 10, 2013 9:36 am

The FOREX master pattern

Post by szfxtrader »

SteveHopwood » Mon Aug 24, 2020 10:52 pm wrote:I managed to withstand about a half of the video. That was better than most of such videos. I usually last less than half a minute. :lol: His voice did eventually break my spirit. As usual.

The guy is promoting a range breakout system. OK, so he describes this stuff differently, but that is what he is doing. And I bet ten quid of mine to one quid of yours that he is cherry picking his chart setups.

In essence here is what he is saying: the market will range for a while; then it will break out of the range and go off in one direction; then it will bounce back.

Yeah, we kind of learned that over the years.

Peaky is quite handy here. Peaky tells us where the markets are heading on any time frame you care to view. Eventually. Eventually might take a while to arrive.

I could go back in time and pick hundreds of cherry-picked charts to back up what I write about this stuff. Life is too short to bother.

I do not say that the guy is wrong, just that we already know this stuff. Mind, don't pay for anything he is likely to try to sell; it is already available for free here - just in a different format.

:xm: :rocket:
Thank you for your reply! I don't want to buy it, I just liked the contraction/accumulation phase, a good example today was NZDJPY.

Cheers
yo009
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Joined: Sun Jul 07, 2019 4:35 am

The FOREX master pattern

Post by yo009 »

What a coincidence! I am in the process of building a website explaining a similar strategy.

It’s not a new idea, and what breaks it is execution – can you be there when the setups happen, can you reverse trades on time, can you re-enter after SL.

It does amount to a range breakout and the “expansion phase” will eat you alive.

As Steve pointed out, it’s very easy to find the setups after the event but hard to judge while they are developing. And not, they are not always clean and clear.

I am trying to find the right execution and semi-automation that might help. The website is not finished in any way but take a look - you might find some ideas.

https://forex-trade-assistance.webnode.com/strategy/

Cheers
Yan
szfxtrader
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Posts: 352
Joined: Sun Feb 10, 2013 9:36 am

The FOREX master pattern

Post by szfxtrader »

yo009 » Fri Aug 28, 2020 7:48 am wrote:What a coincidence! I am in the process of building a website explaining a similar strategy.

It’s not a new idea, and what breaks it is execution – can you be there when the setups happen, can you reverse trades on time, can you re-enter after SL.

It does amount to a range breakout and the “expansion phase” will eat you alive.

As Steve pointed out, it’s very easy to find the setups after the event but hard to judge while they are developing. And not, they are not always clean and clear.

I am trying to find the right execution and semi-automation that might help. The website is not finished in any way but take a look - you might find some ideas.

https://forex-trade-assistance.webnode.com/strategy/

Cheers
Yan
Thank you for sharing it. EJPY is on my watchlist for Monday.
yo009
Posts: 2
Joined: Sun Jul 07, 2019 4:35 am

The FOREX master pattern

Post by yo009 »

Your question was about automation. I am providing Current Setups for other traders which for you will work as human powered indicator. :)
https://forex-trade-assistance.webnode. ... nt-setups/

The problem with indicators (ATS included) is that they generate too many signals and in the end it’s up to the trader to veto which ones are worth trading. Means, it’s just as easy to identify the patterns yourself.

The big question is – how do you trade the setups. It’s the missing piece of most strategies.

In some ways we are faced with the same problems as the original Moving Day. Think of Expansion Line as the Moving Average. Do we reverse trades every time the price crosses – probably not. Do we trade the breakout, which is Moving Day + 20 pips? Or, do we join the big boys and trade from the edges in… and perhaps wait and see if there’s a breakout on the other side?

Execution is usually left to the understanding, intuition, and temperament of the trader - It’ll be more productive if we try to automate or semi-automate execution rather than create another indicator.

I am curious to know what works and what doesn’t for you.

If possible, we can combine successful execution techniques into a semi-auto EA.

Cheers
Yan
szfxtrader
Trader
Posts: 352
Joined: Sun Feb 10, 2013 9:36 am

The FOREX master pattern

Post by szfxtrader »

yo009 » Sun Aug 30, 2020 12:32 am wrote:Your question was about automation. I am providing Current Setups for other traders which for you will work as human powered indicator. :)
https://forex-trade-assistance.webnode. ... nt-setups/

The problem with indicators (ATS included) is that they generate too many signals and in the end it’s up to the trader to veto which ones are worth trading. Means, it’s just as easy to identify the patterns yourself.

The big question is – how do you trade the setups. It’s the missing piece of most strategies.

In some ways we are faced with the same problems as the original Moving Day. Think of Expansion Line as the Moving Average. Do we reverse trades every time the price crosses – probably not. Do we trade the breakout, which is Moving Day + 20 pips? Or, do we join the big boys and trade from the edges in… and perhaps wait and see if there’s a breakout on the other side?

Execution is usually left to the understanding, intuition, and temperament of the trader - It’ll be more productive if we try to automate or semi-automate execution rather than create another indicator.

I am curious to know what works and what doesn’t for you.

If possible, we can combine successful execution techniques into a semi-auto EA.

Cheers
Yan
Thank you for your reply! I like to trade against the majority of the traders, example: if the majority of the traders are selling EUSD, I will just look for longs and vice versa, but a nice M(@resistance) or W(@support) also works very well.
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SteveHopwood
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Location: Misterton - an insignificant village in England. Very pleasant to live in.

The FOREX master pattern

Post by SteveHopwood »

szfxtrader » Sun Aug 30, 2020 12:10 pm wrote:
I like to trade against the majority of the traders

Why?

:xm: :rocket:
Read the effing manual, ok?

Afterprime is the official SHF broker. Read about them at https://www.stevehopwoodforex.com/phpBB3/viewtopic.php?p=175790#p175790.

I still suffer from OCCD. Good thing, really.

Anyone here feeling generous? My paypal account is always in the market for a tiny donation. [email protected] is the account.

To see The Weekly Roundup of stuff you guys might have missed Click here

My special thanks to Thomas (tomele) for all the incredible work he does here.
szfxtrader
Trader
Posts: 352
Joined: Sun Feb 10, 2013 9:36 am

The FOREX master pattern

Post by szfxtrader »

SteveHopwood » Mon Aug 31, 2020 2:43 am wrote:
szfxtrader » Sun Aug 30, 2020 12:10 pm wrote:
I like to trade against the majority of the traders

Why?

:xm: :rocket:
Unfortunately they are losing +- 90% of the time, example: EUSD is moving up, but many traders are selling it now.
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SteveHopwood
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Posts: 9754
Joined: Tue Nov 15, 2011 8:43 am
Location: Misterton - an insignificant village in England. Very pleasant to live in.

The FOREX master pattern

Post by SteveHopwood »

szfxtrader » Mon Aug 31, 2020 2:37 pm wrote:
SteveHopwood » Mon Aug 31, 2020 2:43 am wrote:
szfxtrader » Sun Aug 30, 2020 12:10 pm wrote:
I like to trade against the majority of the traders

Why?

:xm: :rocket:
Unfortunately they are losing +- 90% of the time, example: EUSD is moving up, but many traders are selling it now.
I see. I was just curious.

:xm: :rocket:
Read the effing manual, ok?

Afterprime is the official SHF broker. Read about them at https://www.stevehopwoodforex.com/phpBB3/viewtopic.php?p=175790#p175790.

I still suffer from OCCD. Good thing, really.

Anyone here feeling generous? My paypal account is always in the market for a tiny donation. [email protected] is the account.

To see The Weekly Roundup of stuff you guys might have missed Click here

My special thanks to Thomas (tomele) for all the incredible work he does here.
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