| stevehopwoodforex.com https://www.stevehopwoodforex.com/phpBB3/ Print view |
|
| 240 MA BUY.ABOVE_SELL.BELOW https://www.stevehopwoodforex.com/phpBB3/viewtopic.php?t=3871 |
Page 12 of 24 |
| Author: | nanningbob [ Wed Oct 22, 2014 4:12 am ] |
| Post subject: | 240 MA BUY.ABOVE_SELL.BELOW |
Got back to BE on gbp/usd. I took a 2nd entrance at 240 line so eecked out a profit. the aud/usd i picked up around 26 pips so slow day. |
|
| Author: | Bruster400 [ Wed Oct 22, 2014 10:24 am ] |
| Post subject: | Just checking the painting rules for this... |
Hi, Can someone help me understand what the painting rules are for this indicator. I was just watching some news come out on a GBPUSD 1m chart and I watched the indicator paint a CT arrow just before the news came out. The news resulted in a spike down in price and I watched the buy arrow trail down with price to about 20 pips below where it first appeared - as price went down the arrow just went down ahead of it. Does this mean that the arrows are only "set" at the close of the bar? I know you wouldn't be trading this on the lower timeframes but I just wanted to check how it works because it will make a big difference to any visual back-testing people try to do off the charts. It will basically mean that it's forward testing only. Before I get blasted, I'm not criticizing, I'm just trying to understand so I don't waste my time looking back at past trades. Thanks. |
|
| Author: | nanningbob [ Wed Oct 22, 2014 10:56 am ] |
| Post subject: | Just checking the painting rules for this... |
CT trade as I stated early must be the same color as the bar, green with green and red with red. If they are not the same color you leave it alone. If you took a trade then the original arrow would have given you a SL which in this case would have been hit and you would been out. Obviously the arrow would quit moving with the bar close. We are looking at several solutions to the moving arrow. One which would freeze it at first spot, the other would be mark the spot but let the arrow move. Either way when signal is given you either are in or not in and the trade goes positive or negative. I will try to post some picks of best trade scenarios later. |
|
| Author: | Bruster400 [ Wed Oct 22, 2014 11:11 am ] |
| Post subject: | 240 MA BUY.ABOVE_SELL.BELOW |
Thanks Bob, That helps clarify things for me and the new improvement ideas sound like they would solve the backtesting issues nicely. |
|
| Author: | nanningbob [ Wed Oct 22, 2014 1:12 pm ] |
| Post subject: | 240 MA BUY.ABOVE_SELL.BELOW |
CT trading is an art, indicators will fail you very often in CT trading. I have found this system really good on trend trades. You enter and head for profit quickly most of the time. CT trades, no guarantees there but there are times it works especially in ranging markets or short trends. Long trends though CT trading is tough really tough. |
|
| Author: | nanningbob [ Fri Oct 24, 2014 12:59 am ] |
| Post subject: | 240 MA BUY.ABOVE_SELL.BELOW |
I am finding out the best way to trade this and the best trades are the arrows with the xxx.000 lines. I marked spots on the 4H chart where you can see this. It also gives you a quick bailout if you dont like the trade. |
|
| Author: | nanningbob [ Fri Oct 24, 2014 1:05 am ] |
| Post subject: | 240 MA BUY.ABOVE_SELL.BELOW |
You can see here on the 1H chart how price clearly reacts around these xxx000 lines. When you see the arrows in an area you can place limit orders and get in early or go ahead and take the signal. In a move from line to line you should try to get 40-60 pips out those 100 pip moves. If not 20-30 pips are there all day long. Use only the arrows that allow you to enter near those xxx.000 lines and you are sitting nice. This will help you on the CT arrows that slide. You know where they are going to slide to on the chart. |
|
| Author: | nanningbob [ Fri Oct 24, 2014 1:10 am ] |
| Post subject: | 240 MA BUY.ABOVE_SELL.BELOW |
Here is eur/usd 4H. You wont see those strong 100 pip moves like the gbp/nzd as often but they are there at times. |
|
| Author: | nanningbob [ Fri Oct 24, 2014 1:13 am ] |
| Post subject: | 240 MA BUY.ABOVE_SELL.BELOW |
Lower end charts you ignore those that are not near the xxx.000 lines. Especially the CT trades. eur/usd is good for 20-40 pips on lower end charts when you play the lines. Sometimes it goes all the way to the next line but not as often as gbp/nzd. It gives plenty of signals you just play the xxx.000 lines and your win ratio will go up nicely. I have used this formula the last two days and it is dynamite. |
|
| Author: | nanningbob [ Fri Oct 24, 2014 1:17 am ] |
| Post subject: | 240 MA BUY.ABOVE_SELL.BELOW |
This should solve any issues with the sliding CT trade arrows. In reality though I am not playing the CT arrows unless I want to multiple level trade. With 24 pairs on the screen and only using the trend arrows near the xxx.000 lines should give you plenty of trades every day using the 1H chart. |
|
| All times are UTC | Page 12 of 24 |
|
Powered by phpBB® Forum Software © phpBB Limited |
|