10.7

[pete14]

@pete14

It´s the same template Bob updated today with black background and this colors for the indis:





Only indicator you will need to add if you trade EURCHF is ExplineofZero, that draws in the chart an orange line to show where is the Break Even level. This indicator is an absolute must have if you use martingale, hedge or stacking. No need of complicate the things. Just manage to drive your open positions to the orange line adding buys or sells.



Cheers.

I use a similar indicator that helps me alot with visualizing the Profit or loss of a trade. It is a very good aid showing the exposure of a trade.

I also use another indi that displays the total exposure and profit/loss of ALL open positions for every Currency

Thanks Matt,

great indies


Peter

[pete14]

@pete14

It´s the same template Bob updated today with black background and this colors for the indis:





Only indicator you will need to add if you trade EURCHF is ExplineofZero, that draws in the chart an orange line to show where is the Break Even level. This indicator is an absolute must have if you use martingale, hedge or stacking. No need of complicate the things. Just manage to drive your open positions to the orange line adding buys or sells.



Cheers.

I use a similar indicator that helps me alot with visualizing the Profit or loss of a trade. It is a very good aid showing the exposure of a trade.

I also use another indi that displays the total exposure and profit/loss of ALL open positions for every Currency

BTW Matt, do you know or have an indi that shows all open pending orders?

Thanks

Peter

[boldtrader]

As I previously posted on Thursday, fully in advance, I was selling EURUSD based on the Stats of ATR combined with 10.7 ie: selling the +1 ATR on Daily. My positions were S @ 1.39035 and 1.38875. Price is currently trading at a low on this Sunday session as of this writing @ 1.3835 with a small rebound back up to 1.3852. I closed 1/2 position @ +51 pips with stop moved to b/e +20 on balance. Booked pips on other pairs similar type of trades. Also doing nicely with AUDNZD for longer term.

I am targeting 1.3815/23 area for near term. Watch for bounce up to close Sunday open gap. ... mid term swing looking for 1.3750.. and longer term swings (weekly/monthly positions) to 1.20's which I have posted here previously.


Cheers...

EURUSD Target hit.. now flat. Second position closed at target, +88 pips.

##1-2014-04-14_0833.png

Have a great day all.

Cheers.

[thomasmore]

mon14apr2014.PNG

6 trades, 4 winners. done

[effluvium]

Hi Boldtrader,
Any chance to know a little bit more about OBI-WANN indicator? Is it your proprietary indi ?
How does it work in conjunction with oher indis? Is it possible to purchase it as a sole package ?

[milanese]

6 trades, 4 winners. done

congrat

Cheers

Tommaso

[darshanag]

EURUSD Target hit.. now flat. Second position closed at target, +88 pips.



Have a great day all.

Cheers.

Hi Boldtrader.. As you also mentioned & given the past history, there's a good chance of a move up on EURUSD to close the gap of this week's open.. With that in mind do you think its worth buying EUR/USD or do you think its too risky given the mid/long term view of the pair ? Appreciate your thoughts on this... Cheers !

D

[lionsden]

An example of scalping using the new (and gorgeous) 10.7 ATR indi for 1H.

EURCHF. This pair has very low volatility (the lowest in the market) so if you use to enter with 0.01 lots here you should increase to 0.04 or more to have the same feeling.

This is a very obvious strategy: sell the red fractals beyond the dotted red line, and buy the green fractals below the dotted green line. Just as simple as that.



Things it helps to know. This pair is not correlated with any currencies, not even EUR or CHF. It´s correlated with stock markets. If stock markets go down, EURCHF goes down as the demand of "safe" CHF increases. So, here CSS slope is useless, but CSS can help with the cross of EUR above CHF.

1.20 is the strongest support ever. Swiss central bank has millions of euro buying orders set to defend this last line of defense. They have a strong determination to defend it at least until 2016. Just see the daily chart to see what happened when bears tried to breach the line (Mar to August 2012).




The range is so tight that we can afford to trade it without stoploss. Try to martingale this in demo. I have done it hundreds of times and never lost a single bunch of trades. Sometimes I double the bet, others I buy and sell at same time, etc. Need some practice but one could do a living just trading this single pair. The ATR here is very important, that´s why this indicator could be a real money machine as it helps to manage the ranges so accurately.

Well, that was my two cents.

Zentauro67,

Thanks for that insight. Does this scalping technique work on lower TF's as well and with other more volatile pairs?

TIA
Lionsden

[zentauro67]

@lionsden

I started to trade EURCHF in 5M using a very agressive martingale grid style. It worked for a long time but a strong move scared me and it was almost a miracle I could scape at break even. So, I moved to 4H and 1H widening the grid and catching better the trend.s First thing I thought yesterday, when I saw last 10.7 template was that this 1H setup, with the ATRchannel and the 240/60 1H cloud to show up and down trends was almost perfect to set manually my grids based in the ATR levels.

[boldtrader]

Hi Boldtrader.. As you also mentioned & given the past history, there's a good chance of a move up on EURUSD to close the gap of this week's open.. With that in mind do you think its worth buying EUR/USD or do you think its too risky given the mid/long term view of the pair ? Appreciate your thoughts on this... Cheers !

D

Darshanag.. Will share with you (and others here) technique I have found which works very well.

The TL is key. I have been using TL's for many years, infact since the beginning of my trading career.
I changed things a bit... The TL as normally applied in the industry is referred to as a Trend Line. I refer to that same line as a Trade Line. Reason? The word "trend" can be somewhat opinionated. Some in the industry may look at a weekly chart and consider a trend is up.. while others may prefer using the Daily or Monthly to determine trend and say that the trend is down. So rather than trying to convince others about the definition of Trend, I prefer to use the word "Trade". So while others are trying to determine the trend, I am banking pips. This way, they can have their trend.. and I will have my trades.

##1_2014-04-14_1444_001.png

For the price action chart purists.. TL only..

##1_2014-04-14_1519.png

As having been demonstrated thousands of times, and probably even seen by your own self, price will ride a certain drawn line along tops or bottoms of candle patterns or (ie: high/low's of a series of price bars), potentially for hundreds of pips until it no longer follows that same pathway. The Demark TL is a great helper tool, and has been automated to do what we have been doing for many years (at least partially). Just as it has been added here with 10.7, it can be a great compliment. So, price follows the TL. Then it stops following that TL. What does it do? Normally, price crosses that TL and a new direction of momentum is in play. WHEN price crosses that TL, that is when I am ready to Trade.. thus, the reason for the term "Trade Line", vs "Trend Line". It is a purpose for a call to action, an alert (but not necessarily a reason to trade).

Next I am looking to where I can draw the TL's on my current chart.. The chart below shows the TL's (Orange) I have placed on the chart with regards to the direction of momentum. Anytime I can get 2-3 changes in the angle of the TL, this is an early alert to an impending change of direction. It is similar in concept to the Price / Volume strategy.. ie: Increasing price on decreasing volume.. prepare for reversal.. thus, the sharper the angle of the TL, the higher the probability of a reversal. The key is to plan ahead based on the breaking of the primary TL (GANN Theory referred to this as the 1 x 1 Angle or 45' angle. )

When price breaks the primary TL, the "MST" levels THEN become activated as primary targets. There is more.. but is the basis to hopefully give you an idea to your answer.

Think of it this way.. (Million Dollar Trade Secret - This will make a great title to my new book)... In order for price to move up to close the gap.. what must happen? Until price completes this certain event, what will price do?

Look at the 10.7 indi.. where are the daily/weekly located? Where is the Sto7 located? will it remain? Are there lower Price Points of Interest (PPOI)? If so, when will price move there? Are there higher PPOI to seek?

Since the ATR do not repaint, look at the use of the TL against the ATR extreme levels. You will be amazed at the accuracy. Combine that with 10.7, even 10.6 and it is very difficult to miss, if you know what to look for.. which by now, I hope I gave you a big hint and bright lights are now glowing.. I don't mind answering your question, but I would rather teach you and others how to find the answer. Then you will know and be able to teach others.

Regarding my view or anyone else's view.. depending on who you ask, it will be different. I trade based on "what is", not what I think.. (took me a long time to get past that.. we want to be right).. I trade based on experience and based on where I think the market will go because of specific events and causes. Sometimes they are not readily seen and must be figured out.

But one action to keep in mind.. no matter what the opinion is.. trade based on what you see, not what you think. I and many others have lost lots based on opinion.. (made a lot also) .. but learn to trade based on facts. Example: " yes.. price is following this TL and as long as it remains under this TL.. I will stay short.. or trade down, or 10.7 weekly is down.. and as long as it remains 0.0000 I will only trade down... etc.." That is fact based trading.. You can have an opinion on a bounce, a reversal or that price will move to a certain PPOI.. but until it does.. trade what you see. WHEN the event occurs... and WHEN price begins to move in the direction of your opinion.. then make the trade.

If you still need help after all these hints.. contact me..

Cheers.