10.9 DAILY/WEEKLY TRADES ONLY

[nanningbob]

Thanks Bob and others that PM me. Got everything where it needs to go now I think.

Here is a chart for discussion; seems to be the only thing I can find where the Stoch is right and trend is correct.

Hasn't broken the DeMark trendline but will break a steeper line soon (not shown)

Anyone consider trading this; is this what a daily set up should look like?

Regards, John

Fundamentals would agree with your sentiment. Euro is weakening and gbp will weaken at a lesser rate or may even hold. So eur/gbp sell probably a very good trade. Thanks for bring it up. I normally dont trade the eur/gbp though.

[Cherry]

I have just been taking daily trades only keeping half an eye on them but I am beginning to think I should take them a lot more seriously. This is some pretty decent returns that I am sure I could have improved on, given a bit more attention (especially w.r.t. DD).

I am pretty much using the same set up as Gertje I think - 50 period TMA (daily and weekly but daily is the key one) with crossing of 90/70/30/10 Stoch lines and then I look at the weekly open as a key S/R area. I don't use the actual Daily/Weekly stoch on this setup as I have the weekly line and you can see where price is relative to it very easily.

One change I did make was I use the standard stoch but instead of the 7,2,2 setting I use 14,3,3 - as we don't need to worry too much about timing on the daily (the moves you are aiming for are pretty big) the 14,3,3 just provides less false signals but is obviously a bit slower.

I have tried stacking trades but I am not sure whether I will continue as I am not sure I am good enough at it to merit the risk live so perhaps shouldn't do it on demo.

These are the results so far.



And I have attached a screenshot so you can see how simple it is.

Cheers,
Dave.

Hi Dave, do you mind me asking if that TMA is a different one to the TMA_CG_mod3.1 which is what I thought we were using? There seems to be a difference in your lines to mine and also I'm not sure how you change the periods in the CG.
I like the look of the simplicity and soundness of the D1 trades you are taking.
Thanks for your help.
Cherry

[nanningbob]

I have just been taking daily trades only keeping half an eye on them but I am beginning to think I should take them a lot more seriously. This is some pretty decent returns that I am sure I could have improved on, given a bit more attention (especially w.r.t. DD).

I am pretty much using the same set up as Gertje I think - 50 period TMA (daily and weekly but daily is the key one) with crossing of 90/70/30/10 Stoch lines and then I look at the weekly open as a key S/R area. I don't use the actual Daily/Weekly stoch on this setup as I have the weekly line and you can see where price is relative to it very easily.

One change I did make was I use the standard stoch but instead of the 7,2,2 setting I use 14,3,3 - as we don't need to worry too much about timing on the daily (the moves you are aiming for are pretty big) the 14,3,3 just provides less false signals but is obviously a bit slower.

I have tried stacking trades but I am not sure whether I will continue as I am not sure I am good enough at it to merit the risk live so perhaps shouldn't do it on demo.

These are the results so far.



And I have attached a screenshot so you can see how simple it is.

Cheers,
Dave.

Hi Dave, do you mind me asking if that TMA is a different one to the TMA_CG_mod3.1 which is what I thought we were using? There seems to be a difference in your lines to mine and also I'm not sure how you change the periods in the CG.
I like the look of the simplicity and soundness of the D1 trades you are taking.
Thanks for your help.
Cherry

Cherry I am going to do a short series on the COG, TMA, and ATR lines. they are basically the same indi but you will need to see it to understand it. Right now I am in bed and will write when I feel better.

[nanningbob]

Thanks Bob and others that PM me. Got everything where it needs to go now I think.

Here is a chart for discussion; seems to be the only thing I can find where the Stoch is right and trend is correct.

Hasn't broken the DeMark trendline but will break a steeper line soon (not shown)

Anyone consider trading this; is this what a daily set up should look like?

Regards, John

Well that turned into a great trade if you took profit and a #@!%^#$&*&^%@%$#! if you didnt.

[spotdespot]

Hi Dave, do you mind me asking if that TMA is a different one to the TMA_CG_mod3.1 which is what I thought we were using? There seems to be a difference in your lines to mine and also I'm not sure how you change the periods in the CG.
I like the look of the simplicity and soundness of the D1 trades you are taking.
Thanks for your help.
Cherry

Sorry Cherry - I am away from home/office at the moment and not back until Monday/Tuesday. I will respond properly then.
Cheers,
Dave.

[Cherry]

Cherry I am going to do a short series on the COG, TMA, and ATR lines. they are basically the same indi but you will need to see it to understand it. Right now I am in bed and will write when I feel better.

Bob, thank-you. I did change the 56 in the inputs to 50 in case that was the period! I also applied another one on the daily chart and set it for 250 for the weekly bands. Not sure if that's correct but it looks good!! It does show where the day top meets the week top and we get a price hit it does a nice drop. Especially after a 'M' or double hit on the top or a candle formation etc. On the H4 charts i also placed the second TMA with 300 in what I assume is the periods, to show the daily. This also looks good so will check out what happens next week using the weekly open and stoch with these.

You can put me right if I'm barking up the wrong tree!!

Sorry you're not well, hope you recover soon.

Cherry

[Cherry]

Hi Dave, do you mind me asking if that TMA is a different one to the TMA_CG_mod3.1 which is what I thought we were using? There seems to be a difference in your lines to mine and also I'm not sure how you change the periods in the CG.
I like the look of the simplicity and soundness of the D1 trades you are taking.
Thanks for your help.
Cherry

Sorry Cherry - I am away from home/office at the moment and not back until Monday/Tuesday. I will respond properly then.
Cheers,
Dave.

Hi Dave, thanks and that's ok! You can see above what I've done... be it wright or wrong!!

Cherry

[nanningbob]

I show here there is basically no difference between the TMA true and ATR indicators. I posted the pics here.

http://www.stevehopwoodforex.com/phpBB3 ... 186#p94186

[boldtrader]

I show here there is basically no difference between the TMA true and ATR indicators. I posted the pics here.

http://www.stevehopwoodforex.com/phpBB3 ... 186#p94186

Bob, I agree with you which is why I continue to use the ATR channels, very successfully.

Cheers.

[nanningbob]

I show here there is basically no difference between the TMA true and ATR indicators. I posted the pics here.

http://www.stevehopwoodforex.com/phpBB3 ... 186#p94186

Bob, I agree with you which is why I continue to use the ATR channels, very successfully.

Cheers.

I included the ATR channels in my update even though I didnt put them in my final screen. The only reason I chose TMA over the ATR is the TMA had a signal system already built in and had the distance from the highest to the lowest line. Helps me plan how many pips for my TP target. So that was my reasoning. What is funny about all this is when I accused the TMA true at FF of being just another MA with extremes I was called an idiot. LOL.