10.3 SCALPER/RANGE TRADE SYSTEM

[disbellj]

yeah that makes sense

[atharmian]

Don,

Great. You made a good point about ADR20 vs long term Group Pair Volatilities !
Athar.

[quote="disbellj"]1. Working on it. Going faster than I could have if I didn't have DWMP for 10.3 Paul made. BTW, Paul or anyone else can use my code from my Weekly and Daily OpenPivotSR indicators on my website. I'm not fully up on all rules, so I'll try to get there. Anyone want to check my code to make sure I have all the rules correct for all types of trades are more than welcome to do so, and please let me know if they need changed (exactly what needs changed).

2. I can if Bob wants me to. IMHO for a day trader, it's better to have about 20 days (since we have really only 21-22 trading days per month) instead of 30 days, 1 year, and 2 year ADR. To make the change for themselves, anyone can open the indicator in MetaEditor, make what they want to be true all the time to be true, what they want to be false all the time to be false, and hit F5 to compile. Done.

Kindest regards,

Don

[atharmian]

Pacinvest,

This does look very sensible. Thanks for this and other conversations.

Is it possible for you to post the package- the template, indies including "QQE" and "my" RSI etc so we can try on our own and comment?

Per Bob's latest comments, have you tried TMA Slope (original) as opposed to TMASlope True (non-repaint) and observed any changes?

Regards,
Athar.

Greetings

I an offering a simple trade example here from this afternoon NY time (Sat morning in New Zealand).
This uses a 10.3 bias for the day down from DO and is a classic retrace from a strong earlier move up back towards the DO.

This fits I think in the basket of ideas about CT trades late in the market day. It is also of course a classic Friday afternoon scalp that most traders know about ( i.e. profit taking retrace).

I put notes on the chart that explain the rules I use. The take home point of this trade all comes from comments DancingPhil made here a while back that got me thinking. They are:

- In the quiet times of the market day the flying budda gives excellent indications of range and trade triggers especially when used along with other trade bias.

- Candle patterns are very helpful to interpretation of calling the budda entries and exits

- TMA slope helps to confirm that the market is in 'quiet' phase. My interpretation < .4 & > -.4. = budda scalp trigger potential

- This setup has potential to support large lot trading either with hedge protection or tight stop loss meaning of course it can be very profitable.

Today I ran with the tight SL approach and harnessed the wonderful MPTM to do the work. The settings I used are there on the chart. Today on these trades the MPTM is working perfectly doing the whole job once the trade is entered.

You can leave the exit to the jumping stop or as I did on this one I used a manual exit based on the budda/candle pattern signal. 10 pips profit on this trade.

I am interested in any comments any of you have on this trade and set-up. The trade on the chart was a live account trade with 1 lot. As I am writing this I have done a similar 2nd trade on the next bump down using my practice demo account with 8 lots. Its now 4 pips in profit and MPTM is resetting SL down as I write to -1 pip. So trades become safe pretty quick.

Worth thinking about - its all about risk and return.........................On the practice account today I have done six of these on the EUR pairs and five were winners, the looser involved a poor entry decision on my part. Could have been avoided. Small pips - low risk - big lots - big profit.

Have a good weekend all. Its summer here and I am out the door...........

[atharmian]

Don,

Awesome, especially the progress just in the last couple days.

I always thought your template indy/EA was the right idea for most of us trader joes who do not have coding expertise, and who certainly want a great dashboard display- GUI and menus win over all the time. Think Mac vs PC, or 'smartphone' vs iPhone.

Now that you have this great template, it should be easy, given your trade logic and display comments postings, to make this a generalized Integrated Trade Manager.

That will allow traders to easily be able to add/edit in their existing indys, and modify trade logic on their own, without necessarily be coders themselves. There was a TLE (trade logic engine) on the FF- T101 thread but that only was for basketting offline charts, and the doc is not there.

Of course the next step would be to interface this Integrated Trade Manager with existing trade managers like Steve's excellent MPTM/MBTM, so traders don't have to re-invent the wheel, since they have already invested in such MPTMs and their own EAs and indys. Making your template into an EA in both manual and auto mode shouldn't be an issue at all, except for time.

The whole point about trading should be to concentrate on your trades and trading ideas, not to spend time on re-learning new tools and indys, or having to code. With the comfort of such an Integrated Trade Manager with easy editing and interfaces, we can focus on the real task.

Such a handy tool is the difference between a good trade (where you can focus on the actual trade) and no trade (because you could never get going in the first place) ! True freedom.

Enjoy your weekend,

Athar.

Awesome! i can say I am pleased with the results.

Looks like I need to bundle a template with the indicators how I use them.

And pacinvest, we must be kindred spirits, cause you are talking my language. Small SL, Large Profit. Double an account in one day hundreds of pips, or even less with one or two pairs and high leverage - not for the faint of heart. BUT, I've NEVER taken advantage of (or had as much knowledge as I thought / hoped) in the area of TP and locking in profit, although it is in many EAs I've made - how stupid am i?)

I've been close to automating a very profitable strategy in my CurrencyTraderEA, but development stopped before it was finished in my email group (sort of, I do have one user testing a change, and waiting for feedback. If it's profitable, then of course I will post it).

If this thread "strategy mix" proves out in AllPairs indicator, then it would not be too far of a stretch to make the same indicator into an EA by adding necessary functions, made in part by Robert Hill aka MrPip on FF in T101 indicator development thread, and part by me since then, to trade the 8 currencies. This wa derived from furthering the idea of my BuyBaskets indicators posted on my website. And part of the code would be need to be added by Steve probably - his TP code. I may be able to do it. I don't know. Haven't used the EAs really Steve made. Would be cool to have it all in one, with the AllPairs "face" on the AllPairsEA or CurrencyTraderEA existing shell, and Steve's MM Bob made put in. Wow that's awesome just thinking about it!

One BuyBaskets indicator has been updated with my latest functions, and the other has not been updated, and may not be updated since I use it on lower timeframes mostly. I don't know yet since I'm concentrating on this now.

If you were to want to fix a problem that affected many users, which strategy would you pick? I decided to fix it here since I am here now. So this thread has the best first.

IMPORTANT: I am a scalper at heart, and although the indicators were made on H1 chart, I myself turn on comments and info and go down to lower timeframes until the numbers change. I just thought of something. I can do a check on H1 timeframe, and then do a check on current timeframe, and if the results do not match, I draw nothing and simply state that:
"Unless history is downloaded from MetaQuotes in History Center by pressing the download button and downloading M1 history for the pair, closing History Center, opening it again, and clicking Download button again, then click OK to recreate all timeframe data from M1 data downloaded first time"

That's a heck of an Alert LOL. Anyhow, will worry about that later.

Kindest regards, and have a great weekend. Can't say I won't make other posts this weekend.

Don

[disbellj]

OK, here's a pic of my CurrencyTraderEA. This is my JPY H1 offline chart. I have to open a EURUSD H1 chart and place template to make my offline charts. I also have to open an MN1 chart and do the same. Then I open whatever currency I want to trade, in pic JPY, which clearly ranged this last week up and down and not much gain over week from start and end price (although I measure about 692 pips from high to low aka the range). I then am able to place my Monthly pivot indicator from FXPimp at FF, place my Weekly OpenPivotSR, and my Daily OpenPivotSR

The code from AllPairs and my CurrencyTraderEA should be able to be put together, keeping the best. And this shell works. It trades like it is supposed to. I made it to run the same strategy on the currency and the supporting pairs that make up the currency basket/chart. If there is agreement between the currency and the pair, the pair will be traded. If there is disagreement, the pair will not be traded until there is agreement. When there is no longer agreement, the pair trade will be closed. It has worked marvelously in past, but unfortunately didn't get tested as far as I know. So it's a "shell-in-waiting" LOL.

BTW, the EA is many months/years of work building up to what you're seeing, what most would not dare to share, yet I've neve been normal and wouldn't want to be. All this is just coming to light of day because I started sharing on a a forum again after about a year or so trying just an email group. And because I sort of dissolved my group due to non-participation. If I do the work putting it all together, others can test and give feedback. That's always been my position.

Maybe I'm not cut out to be a trader, but don't traders need tools that are accurate, just like in any business? And I provide a cut above the rest IMHO. Not because I'm better. I do have the heart and eye of an artist. I do have education and job experience of nearly two decades. I do give more effort than most anybody I know. Besides sleep, I do this full time. Without pay. You know anybody else that does this? If you ever heard "I love this so much I'd do it for free", well, that's me for the most part. I do this for the eventual payoff. I consider I've been in college last 5 years. A self-college that when I graduate I can spend the rest of my life choosing my projects I want to do. Tell me one other job in the world this is possible. So with or without support, yes I'm on a God given-God-strengthening-me-daily-to-do-this mission. I can do all things through Christ Who strengthens me. I care much more about people and the world to come than this one, but hey, I like this one too and must take the good with the bad too.

I'll be honest with you. To get here, I've lost m mind multiple times. Think Full Metal Jacket. God brought me back each time and told me to focus on doing what I knew and so that's what I do, leaving the rest up to Him. I once added up the time I've spent to get here in 5 years, and it's easily 10 years worth of time (I once added it up, and conservatively speaking I calculated 3,500 hours, and that was a couple years ago only after 3 years in Forex, so I'd easily say I have 7,000 hours very conservatively speaking), working on code and understanding night and day, weekdays at work when it was slow, evening at home, and now full time for a couple years. No wonder I'm a "basket" case LOL. But I feel like rocking on! I've seen more improvement in my attitude since coming here and just deciding to share and try not to think as much about the money.

I'm gonna do this stuff anyways. Why not put it out here? I might die tonight in my sleep and if I had done all this work and never shared any of it, it would be a shame IMHO. All this knowledge and implementation would die with me. So I am trying to make strides to help other traders because I do truly believe there is no way to truly help someone else and not help myself at the same time, plus I consider it my calling, and have seen the synchronization thing almost the most important thing I can do for myself and others. Bob said 10.3 is the pinnacle of his years of work. I understand how he feels. Money can't buy a sense of satisfaction of a job well done. I get that for free, and in the last week or so have just been excited by the developments.

Kindest regards,

Don

[disbellj]

I know that making money quickly in Forex goes against many people's beliefs, but I can vouch for iy cause I've done it. Not consistently, but if I were, or even better a robot were (since I have it built into me to do the opposite of what I should to be consistently profitable. Trading live and making 40% in one day put my back out from the stress, and haven't been as successful live since, except a few instances where I made $800 ome day on a $3200 account, and a small live account I doubled in a day, otherwise completely dismal. If I were a broker and saw the kinds of gains I've made with small accounts, I would work against me to to make sure I didn't ever get a big account. Unfortunately for them, tools I'm using nowadays work and it's only a matter of time, like stalking my prey LOL) ...

[pacinvest]

Hi Athar

I have attached the template of 10.3 scalp chat set-up that I am using which is just a variation on Bob's ideas. The trend indicators I use QQE and the RSI Magnifier average one are attached but Athar I would rather not take time in this thread to discuss these as they are just RSI based lagging indicators that I particularly like to use because I have been staring at them for 3 years in various trading systems so I know a lot about their strengths and weaknesses. Putting them with TMA slope is one way I can learn more about TMA slope. The other indys in the template are all standard 10.3 indys that you should have.

As BOB says traders will have their own indys to use with the system etc.

Regarding BOB's last comment on TMA true verses the earlier one that repaints to some degree. Firstly I listen when BOB starts talking about TMA slope and I followed all this earlier on in 10.2 discussions. I don't think it is something to dwell on and we can all flick the switch and watch this indy in either mode. Following BOB's comment I intend to go back and look at this again in the current trading context.

[nanningbob]

This is what I am talking about and the original intent of using TMA. Its only purpose was to show the strength of the move not to be used as trading entrances and exit. I can see this pic and see what the strength of the move has been the last 3 days. How it started, strengthened and then began slowing down. TMA true is very much like AO indicator in which price peaks at the biggest bar but you never know what bar is the biggest until it has passed. I can look at the TMA norm and see this move has made its run and is dieing out but still past the 4 maybe one move left. People got all hung up about it not being past accurate but I like the past story better. I can see this move being done, however higher charts would be better.

[nanningbob]

Now here is the 4H chart. TMA true strong move, TMA Norm Strong move but weakness beginning to enter the move. AO basically the same as TMA True. So what info is the TMA Norm giving you on the 4H that the TMA True is not. Price weakness maybe beginning but still room for more sell movement.

[nanningbob]

That is the info TMA Norm gives you that TMA true does not and fits my original use and purpose of the tool. It was intended to show the strength of the move and then show you the move was weakening giving you a heads up on how much longer to stay in the trade. I will be going back to the TMA Norm in my trading. I just never liked TMA True. Sorry guys.