Wavegarrick's HGI Trading

[SteveHopwood]

Hi Guys,

I take it on the chin here . Gu initially showed promise of a down move . I closed at 35 pips minus profit with the move going against me

Cheers
Leon.

I defy anybody without access to the Big Guys information to have predicted that GBP rise today. It would have blown any trading system out of the water, so don't beat yourself up. That is the thingy with indicators; they lag behind real time events. We are stuffed when the markets turn against us.

It did me a lot of favours today and I shall be posting about it in the SPB tomorrow once I am sure the move has run out of steam.

[SteveHopwood]

Actually I thought, "Who cares. I got out of this little lot ok", and closed the trades. http://www.stevehopwoodforex.com/phpBB3 ... 62#p163462

Sometimes we just get lucky. Maybe we get more lucky the more persistent we are?

[Dragonian]

Hi Guys,

I take it on the chin here . Gu initially showed promise of a down move . I closed at 35 pips minus profit with the move going against me

Cheers
Leon.

My manual set-up shows a very similar entry, just one of the ones that got away I guess. There's a philosophy, to which I happen to subscribe, which says that any loss brings one closer to the next win. A logic which is undeniable. So look at it philosophically I suppose

[cvdm001]

Hi Leon,

Reference your GBPUSD trade on the 29th - If you apply the 240 period, Linear Weighted, Close Moving Average to your 4 Hour Chart, then move to your 1 Hour Chart, you would notice that the price had bounced off the same MA a few days prior. I have found that this MA makes for strong Support / Resistance, once crossed can been seen as Trend change for Swing Trades.
May just be a further safety measure to consider for the future.

Thank you for your strategy posted on this forum, It reakky appeals to my style.

Cheers,

Chris

[Wavegarrick]

Hi Chris,

Hi Leon,

Reference your GBPUSD trade on the 29th - If you apply the 240 period, Linear Weighted, Close Moving Average to your 4 Hour Chart, then move to your 1 Hour Chart, you would notice that the price had bounced off the same MA a few days prior. I have found that this MA makes for strong Support / Resistance, once crossed can been seen as Trend change for Swing Trades.
May just be a further safety measure to consider for the future.

Thank you for your strategy posted on this forum, It reakky appeals to my style.

Cheers,

Chris

Yes. You are quite correct. In fact my original thinking was that with the first and second bounce off the 4hr 240 Lwma we had formed a double top which got me into this sell trade. The 60 Lwma on the 4hr chart which is the 240 Lwma on the hourly chart served as a base that held price to the upside, so basically price was trapped between these two timeframe Ma's. I should have been more aware of this. Obviously it needed a catalyst for price to break out either way and nothing better then with a news event.

As Steve put it:

Sometimes we just get lucky. Maybe we get more lucky the more persistent we are?

Another thing to consider is taking these trades off the 1 hr peaky area 1682 bars ago for medium to long term trades when the signal is given.

Anyway thanks Chris, Steve and Dragonian for your comments.

Much appreciated.

Cheers
Leon.

[nanningbob]

I get to be the silent lurker for a change. Never stop learning.

[Wavegarrick]

I get to be the silent lurker for a change. Never stop learning.

Hi Bob,

As always, many thanks for stopping by. I can only expand on what you have taught us. The seeds have been planted and will stay ingrained for life.

Cheers
Leon

[SteveHopwood]

Leon, Me and the rest of us us.

[Wavegarrick]

Hi Guys,

Thanks to all the good comments posted here, I have put alot of thought into this system over the past week.

It makes good sense to do a top down analysis. In stead of chasing price up and down, I have looked at the 4hr timeframe as a firm base to measure price from the daily time frame down to the hourly timeframe. It is not that my current system is not working. It just takes more effort and being at my workstation more often. It can become a daunting task if I have too many currency pairs open, and as such I concentrate on a couple of pairs only.

If I look at a more structured way it can become a good habit in following the trend and making informed and timeous decisions:

In my endeavors with Hgi I have often seen an hourly Hgi buy trend signal and a 4 hourly sell trend signal at the same time, which one do I take?. Well it probably becomes more clear if I zoom out and go to a higher time frame.

I am posting some charts to explain what I am talking about:

Screenshot_168.png

From the above picture on AudUsd you will see that we had a daily Hgi trend arrow on the daily chart. (thick vertical Maroon line)

Screenshot_169.png

I drill down to the 4 hourly time frame and I have Hgi blue wavy and trend signals.(brown vertical lines) In all the instances my stochs are in over bought territory. I only take my trade if the blue and magenta lines have crossed over. It could be 2 to three or more candles later before we get the Hgi signals. It does not matter.

My indicator window 1 consists of daily stochs with tweaked settings to fit the 4 hourly time frame. I have made it more simple for easier visualisation.
The Rsi consists of 2 Rsi settings (blue and green based on the daily timeframe) to visualise the crosses in your trade direction and when they cross back in the opposite direction towards your trade. A good time to close your trade.

My indicator window 2 consists of Bruster's indicator, I simply love getting notifications when the blue and magenta crosses are happening. I have tweaked his settings to fit the 4 hr timeframe.
You will have to download the settings here if you want to see the same picture as me:

STO7_D1_MA_TREND 10 Sma vs Lwma.mq4

Indicator window 3 is Baluda's Superslope for extra confirmation.

Screenshot_170.png

Finally drilling down to the hourly timeframe. (vertical lines in red)
We can get into Wavy and hourly trend sell signals and look at the stochs crosses at the same time.

I am posting my latest Mod template on the 4 hourly time frame for scrutiny. Any questions, please ask.

Hgi with a bit of spice 4Hr.tpl

I do not rule out peaky at this moment and I have to be very cognisant of the fact that price could reverse here at any time.

I know a mouthful but when you get the zest of it, pretty straight forward.

I will post examples.

Cheers
Leon

[cvdm001]

Good Morning Leon,
Good stuff! Please would you post the Template of your 4 Hour Chart with the Blue and Green Lines on it.

Many thanks
Chris