Centrefix » Tue Feb 17, 2015 8:52 pm wrote:Hi TraderJoe,
Thanks for answering my questions and hope you don't mind if I ask a couple more as it goes a long way to homing in on the goal of getting something concrete that works.
Concentrating on the 15m time frame for the moment: I have found occasional disparity between the wavy signal being generated from the matrix template (using HGI16.04) and the chart I open when a signal is generated. Oddly enough when I deleted HGI16.04 from the 15m chart template and then re-added it there is more consistency so wondered if there is a setting somewhere that may have been saved in the template.
That anomaly aside, once a wavy signal is generated and the corresponding chart opened, do you enter the trade immediately at the next bar open price, provided the rules of TMA and MACD are respected?
Many thanks for all your help..
Matt
Yes I have found the same disparity between 16.04 15min and MATRIX .. I think it may relate to some of the tweeks made for the 15min version which is stlil beta so maybe I shouldn't have posted this. If taking signals from the MATRIX don't really need 16.04 on the chart anyway - I just have it there when posting a chart.
Happy to answer your questions and glad I can potentially help someone. It is others help that has got me this far.
I do enter the trade immediately at the next bar open provided rules of TMA and MACD are respected and I would say the TMA rule is only important from a point of view of getting a reasonable entry.
However I am also currently trying an alternative which is to use a 5TMA band rather than centerline and then the entry would be a pending order at the band to give a better entry than the candle open (0.61 band seems to work well being close enough to price action this is 61% of the pair's ATR).
I would say getting comfortable with entries at the candle open is the first step though and then look at what posibilities there are to fine tune further.
I am finding M15 offers loads of opportunities - a consistent 20-30pips per day from 2 - 3 trades shouldn't be too much of a challenge just on this timeframe. Just stay out during news.
FYI on H4 and higher I think just using wavies with TDMTL break will give more entries and am back to practising with this now as per earlier posts in this thread. [19/2 EDIT - no I was just being impatient.. taking entry under the 5TMA is definately what we want for best risk/reward.. ]
