Slope LEVEL -- or DIRECTION?

[spotdespot]

Ah - ok - thought you were looking at the D1 setup not the multi-TMA lower timeframe stuff. Looks good!

Cheers,
Dave.

[cmeade2]

Ah - ok - thought you were looking at the D1 setup not the multi-TMA lower timeframe stuff. Looks good!

Cheers,
Dave.

Yes I have the H1 and H4 TMA slopes on the same window. Another key point is that you are actually looking for two cross overs. First the 14/60 cross over. But then it is also key that the 20/100 crosses the longer time frame TMA.

[spotdespot]

Ah - ok - thought you were looking at the D1 setup not the multi-TMA lower timeframe stuff. Looks good!

Cheers,
Dave.

Yes I have the H1 and H4 TMA slopes on the same window. Another key point is that you are actually looking for two cross overs. First the 14/60 cross over. But then it is also key that the 20/100 crosses the longer time frame TMA.

Yes - exactly - the fast one 14/60 just gives you a "heads up" but if you followed that exclusively you would have far too many false signals. I would advise that you check past action for whatever pair you are looking at as some pairs just don't seem to work quite so well - not really sure why yet.

Also, in my experience, you will get a much higher rate of success if you trade in the direction of the D1 TMA slope (value not so important).

GL.

Cheers,
Dave.

[cmeade2]

Ah - ok - thought you were looking at the D1 setup not the multi-TMA lower timeframe stuff. Looks good!

Cheers,
Dave.

Yes I have the H1 and H4 TMA slopes on the same window. Another key point is that you are actually looking for two cross overs. First the 14/60 cross over. But then it is also key that the 20/100 crosses the longer time frame TMA.

Yes - exactly - the fast one 14/60 just gives you a "heads up" but if you followed that exclusively you would have far too many false signals. I would advise that you check past action for whatever pair you are looking at as some pairs just don't seem to work quite so well - not really sure why yet.

Also, in my experience, you will get a much higher rate of success if you trade in the direction of the D1 TMA slope (value not so important).

GL.

Cheers,
Dave.

Right for example right now you have a cross of the 14/60 on the M15 AU, but the 20/200 hasn't crossed and it doesn't look like it will, and it will probably roll over.

Good point on the D1 confirmation

[spotdespot]

Right for example right now you have a cross of the 14/60 on the M15 AU, but the 20/200 hasn't crossed and it doesn't look like it will, and it will probably roll over.

Good point on the D1 confirmation

Yes - AU is retracing on the D1 but the D1 slope direction is still strongly down so I would be looking at getting back in to the longer term trend with whatever timeframe I was using.

I have pretty much only concentrated on the longer timeframes for the last few weeks, purely as it suits me more. Before that I spent quite a few weeks looking at the lower timeframes.

[Baluda]

Mmm - that's messy. I think I will just use what works for me and not worry too much about the workings. Even after reading that I am not entirely sure what is happening with each.

Dave,

Welcome to mql4!

Paul

[mobthehop]

cmeade - cool idea to apply RSI(2) on Slope... Will give it a whirl as well, though I will probably use RSI(3), my personal preference....

Mop

[spotdespot]

I'm surprised more people aren't showing an interest in this thread as I am convinced more than ever that, although slope level is important, slope direction is key.

I am taking some profits today ahead of Draghi's speech as with the multi-level basket I have built any significant move in one currency has a big (slightly scary) impact on the overall basket. I have set a 200 pips trailing stop on all trades and will close half of each trade that has hit that TS.

GL all.

[Baluda]

Spot,

Impressive basket!

It seems you need a new version of 'iExposure, Tickets' that formats values using a thousand separator.

Paul

[The_Snowman]

Spot,

Impressive basket!

It seems you need a new version of 'iExposure, Tickets' that formats values using a thousand separator.

Paul

Aw, that's nothing, those Pitbull Brijon traders do that all the time, and they handle drawdown at the same time!



May I ask, what entry technique was used?

Thanks, John