10.4 A Complete System

[nanningbob]

When a DT is finished or stalls price will come back inside the 60 MA and you will get a goldenrod color. You can look to trade both ways when this happens. Again the 60 and 240 will make good SL points. Your TP targets are still the xxx.00 lines but most moves in these areas will be 50 pips or less on most pairs. Sometimes you will get a real strong move and price will just shoot right through both lines into the other direction. Also sometimes the 240 and 60 will be tight together signifying the market is fairly dead and you are just playing a 50/50 guess game if you trade.

[nanningbob]

So the rules are simple:

1.Green--buy you are in an UT
2. Red--Sell you are in a DT.
3. Olive--UT done for now price will range for a while or reverse. It may also rally a couple of times first but there wont be new highs.
4. Goldenrod--DT is done for now and price will range or reverse. It may dip a couple of times first though but their wont be new lows.

I like the 4H chart so I will look for my entrances there most of the time. However, you can still look at lower TF to enter and exit from.

TP targets are the next XXX.00 lines or if you think price will run you can stay in the trade until the bar changes color. For example bar is green, you like the trade and want to run with it. Stay in until bar turns the Olive color. The same will sells. As long as the bar stays red you can try to stay in until the color turns Golden rod.

SL lines can now be the 60 MA for UT/DT or the nearest xxx.00 line. Range/reversal areas SL can be the 60/240/xxx.00/or the DP line.

I took the WP line out but you can add back in if you like it. I am going to try trading without it because I really havent used it much lately.

[nanningbob]

The eur/usd 4H UT 9.10 to 9.20 on the 4H chart. Several trades there if taken but to be honest mostly frustration as price was moving in spurts rather than a steady UT.

[nanningbob]

ON the 1H chart things look a little better as each STO 7 read during this time would give you something but most moves were not so hot 15-30 pips at best with a big one because of the news. But it does show you can get something during ranging periods where on a 4h chart you would be snoozing most of the time. You could have gotten some kind of trade every day. 1H trading is a little different. Here the 60 is a good place to wait for a dip in the UT and then play the cross back up. Where the 4H failed to catch both big moves up, they would have been gotten on the 1H chart.

If price on the 1H dips back inside the 60 MA and STO7 gives you a signal up you can enter on the cross of the 60 MA and see how much you get. You can see here the STO 7 retraced back to the bottom every day giving you a chance to trade the eur/usd every day. Some days good some days not so good but with the green UT go and ugly market conditions you are still squeezing out some pips.

This was my goal for 10.6 to still make something in ugly markets.

[nanningbob]

Here is the gbp/nzd DT starting 9.5. You can see some real good entrances off of the 4H chart.

[nanningbob]

However, on the 1H chart you can see lots of trades with some days 2 trades being produced on the GBP/NZD chart. Many of these moves are in the 50-150 pips range and are really solid trades. Just wait on the STO7 and a return behind the 60 MA on the 1H to enter off of. Some really good stuff here.

[tibochina]

Bob, Will you be posting a finished version of "EDSEL" for download?

[nanningbob]

If you see your charts are jumbled when you first start them. Just click on the daily button and back to the 4H and everything will move to their correct locations.

No matter what TF you go to the color bar always reflects what price is doing on the 4H chart.

Have fun driving the EDSEL. I guess it cant get any simpler than this. Just follow the colors and then trade the 4H or 1H charts. Probably works on lower charts too but I will let you all study that. For me it is time for bed. Night.

[zentauro67]

Nice. This is an easy living for scalpers. I scalp 30M and I´m always checking 4H to see where the trend is going. As I use zones between 60 and 240 as 'don´t trade' areas, I´m setting to 'no color' the maUpDown and the maDownUp, letting maUpUp in Firebrick and maDownDown in Green. Anyway, a great add-on.

[SteveHopwood]

Steve, I put the MPTM and EAs in the folders. He is trying to make them work. I dont see why he cant ask questions about them. It is not like Phil who talked about running around naked in his apartment and how great the Chinese were and some Taoist philosophy that only a very small group of Chinese practice today. He was teaching a very high risk/high reward way of trading. Not something I would try. Well I did once and that was that. We understand that. But to ask how EAs and MPTMs work within Empty4 should be legitimate questions to ask. Even I had to ask those same questions at one time. Why can or can not I do this or that with an EA or MPTM? Or why would I set this or that up to do this or that? That is all part of trading. Dont you think??????????

Up to you my friend, but you will snap eventually in the face of this kind of questioning - you always do. We all do. I was just trying to save you some pain. I will refrain from trying to intervene in the future - this is your thread after all. It is just that you are one of the most valuable contributors here and I do not want you pissed off.