10.3 SCALPER/RANGE TRADE SYSTEM

[nanningbob]

TOI by BaBaLuDa4U.

I like the sound of that.

I can't get the babaluda tune out of head; ever since I started humming it

My first thought was Fred Flintstone and Barney in their Rock Mobile.

[nanningbob]

Happy to help Athar; writing it out will further clarify my own mind.

I've always been intrigued by trading just 1 pair in a similar style to how you have explained and although I have been having fairly good success with trading all pairs I think I may try your style out. Only thing for me is I don't have enough or any for that matter faith in myself to CT trade especially in the lower time frames. I think it's one of that hardest things to learn to get right, but once someone learns it, it's one of the best things out there.

I love CT trading some of my best trades are late Friday after the Euro close. Price will always come back off of big moves as traders close out positions for the week. They are really easy to do, just take the 5.1 EA and put it on a 5M or 15M chart and let the retrace enter off of the trendline break OR sometimes I just take it off of the S3/R3 lines like he does. They are nice trades once you know where to look for them. Same thing at the end of the USA session if something is out side a bollinger band. They make nice trades as they cross back toward their median.

[nanningbob]

Happy to help Athar; writing it out will further clarify my own mind.

I've always been intrigued by trading just 1 pair in a similar style to how you have explained and although I have been having fairly good success with trading all pairs I think I may try your style out. Only thing for me is I don't have enough or any for that matter faith in myself to CT trade especially in the lower time frames. I think it's one of that hardest things to learn to get right, but once someone learns it, it's one of the best things out there.

Break yourself in gently of course until you have taught yourself how to be reliably and predictably successful with it.

As such, do begin with smaller lot sizes until you gain your confidence with repetitive success with CT.

And achieve that pattern of success by using BABALU4U's Daily Pivot Fib levels.

Th strategy is simple; when ever you see price move beyond the 3rd Resistance Fib level, enter a pending stop order to ride price back into its normal range. Reverse of course if you see it move lower than the 3rd Support Fib level; where you would use a pending buy stop.

Any time frame is fine.

Rinse and repeat this 20 times and you'll be confident about increasing Lot size.

Phil

To add what Phil said I like using the Bollinger Band set at 40 When it crosses back in from the outside band take the trade. I had a whole trading system based on that in my 5.0 system. You can go to FF and check that sight out if you wish. That is a bit more complicated than this one is though.

[POH]

Thanks Bob and Phil, will check out 5.0 I only came around the time of the 10 system. Bed time for me so I'll look into that more tomorrow and hopefully start to get the hang of CT trading.

[effluvium]

I don't even know if the DailyOpenPivotSR indicator or the WeeklyOpenPivotSR that I've given are either one correct, and if they are correct partially or fully. It would be nice if those that know how to test the indicators would and give feedback positive or negative. If you go to a GMT+2 criminal, do the opens and pivots match what you see on your chart?

Don, your work is very worthy and valuable. However, I'm suggesting some "marketing tips" if you want most people here pick your indicator and adopt it in their charts.
You have to bring to the table a complete solution which includes the complete set of monthly/weekly/Daily Pivots and R/S. Presenting a partial solution is not convincing, because you have to pile up more indicators again
I was diving in your code and have noticed that you have used all the 8 Empty4 standards buffers to draw the DO & DP with its 3Resistance and 3Supports.
If you look at Baluda Code for DWMpivots he wasn't using these standard buffers, so he managed to free himself from this limitation.
So considering the technical coding aspect, I suggest (and I'm not an MQL great programmer), to take the Baluda DWM, and to modify it by bringing your improvements, I mean the procedures for synchronisation time with GMT 17:00.
If some peple are complaining about the CPU overload aspect when integrating your sync procedures, it could also be solved by offering the choice to the user to swith off the automatic sync by entering manually the shift time between GMT time and their Daily Open time of their _broker.

It could be also very smart to offer the choice when attaching the indicator to switch a flag to true/false, (called for example : Baluda_normal) making the indi drawing exactly the same lines as Baluda original DWM. If this flag is Off then chart will draw the synchronised stuff with GMT. If people are suffering from huge CPU, then they could switch to a manual sync.
Just my 2 cents.
Best regards Don.

[nanningbob]

Tough day trading, just look at this bunched up mess.

Yeah, I haven't traded yet today. Nothing on the Eur:USD has stood out as an outstanding 10.3 opportunity given it fell out of bed and smashed through the DP at the opening, and nothing has yet hit any target worthy of a CT trade so far either.

Well I am 3-0 for 23 pips. LOL big day. The only reason I closed them is so I could say I was 3-0. Got to have those bragging rights. Dont see much for tonight either. Just got done packing my bag, Thanksgiving weekend and we are off to Bei Hai, 4 or 5 days of fun, sun, beach, Western Restaurant, and of course those 20 something massage ladies my wife lets me go to when she is along. NO funny ideas guys. I may or may not post much this week.

For those of you who know me I usually start shutting down trading for the year around the 10th of December. Usually nothing happening but I might hang around if 10.3 looks good for scalping. Higher end charts I just found them out to be a waste of my time so I would just close up and come back the 2nd week of Jan. One thing I have learned about Holiday trading, every year some currency just does a slow slide in one direction with no retrace. One year it was the NZD, another the CHF, another the EUR. Dont know how to predict it but if you catch it just stay with the trade for 2-3 weeks a pick up some pips. Another thing is dont trade the NZD the day before or after Christmas. Because of no liquidity it will jump hundreds sometimes thousands of pips at one time. Does some really strange stuff so you are warned. Anyway I will check my charts in about 45 minutes and if I dont see anything will be done for the day.

[thelearner]

hi, I've added daily fib level indicator but it always revert to the default setting whenever I change timeframe. I want to make it "dashed" lines. Is it supposed to do that?
If possible to add alert on level 2 and 3 will be good so I don't have to manually put alert everyday

regards~

[nanningbob]

Well I am going to bed, the aud/cad was my only good trade today. usd/jpy, cad/jpy, and chf/jpy were the best trades of the day but I didnt take any of them. Not my favoite pairs to trade. I will get up in the morning make a comment or two and then off to the beaches of Southern China and some good Aussie food.

Baluda upgrade DWMP for 10.3 and I love it. I will let it run tonight and if it still looks good I will post it in the morning. The upgrades included adding the DO line and in the Right Hand corner the pivots are shown in order. So one glance you you know if you are trending or ranging. Simple. Thanks Baluda or what is your new name yabadabadoo.

[atharmian]

Babulu4u and Baluda,

I believe there are many folks here ('the silent majority') who would like One (Great?) Indicator/EA that would capture all the progress we have made thus far (and any future increments which definitely are along the way.)

I guess you guys can take care of CPU efficiencies, manual mode, on-screen alerts/displays and all the other stuff, given your long experience !

And while we are on the subject how about also incorporating currency strengths as a filtering option that Baluda already has floated? With such, this One Indicator would basically incorporate all the major strategies you find being talked about, and which are mutually independent, unlike using various MA-based indys that duplicate [currency strengths, pivots/fibs w/DO, jump stops/Trails, MPTM with hedging control?)

Personally I would love a currency strengths dashboard, with example below from TMA, with the left half for MTF currency strength charts, but I can wait

http://www.stevehopwoodforex.com/phpBB3 ... 481#p14481

Cheers,
Athar.

PLEAS IN FUTURE I AM NOT BALUDA but BABALU4U.....

I second that.

Babalu4u, maybe we should join hands and make The One Indicator. TOI by BaBaLuDa4U.

Paul

[atharmian]

Bob,

Great to know you are working on Baluda DWM P upgrade for 10.3 including DO in the Show Order text !

I had made that request to Baluda some days ago, so it's coming then ...

Athar.

Well I am going to bed, the aud/cad was my only good trade today. usd/jpy, cad/jpy, and chf/jpy were the best trades of the day but I didnt take any of them. Not my favoite pairs to trade. I will get up in the morning make a comment or two and then off to the beaches of Southern China and some good Aussie food.

Baluda upgrade DWMP for 10.3 and I love it. I will let it run tonight and if it still looks good I will post it in the morning. The upgrades included adding the DO line and in the Right Hand corner the pivots are shown in order. So one glance you you know if you are trending or ranging. Simple. Thanks Baluda or what is your new name yabadabadoo.