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| Author: | 919gilead [ Sat Jan 16, 2016 8:37 am ] |
| Post subject: | Multi Currency MTF MA Dashboard |
What can I say, good to know I'm not alone :hi: Yes we're doing great and next week will be very exciting by the grace of God. Shalom  |
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| Author: | blazej [ Sat Jan 16, 2016 8:31 pm ] |
| Post subject: | Multi Currency MTF MA Dashboard |
Hello George, correct me if I am wrong. So you basically earn the coins on the differences between strong and weak currencies? And if the dashboard light itself like a christmas tree then it is a sign for you to engage? Cheers, Blazej |
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| Author: | 919gilead [ Sun Jan 17, 2016 5:20 am ] |
| Post subject: | Multi Currency MTF MA Dashboard |
Yes Blazej, more so that we have included 2 additional filters to ensure we are trading in line with the next HTF and also trading strength vs weakness. Shalom :hi: |
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| Author: | optionhk [ Sun Jan 17, 2016 8:33 am ] |
| Post subject: | Multi Currency MTF MA Dashboard |
Hi George, I give ideas and suggestions and don't expect you to spend time on explaining why it can't be done. It is not worth it unless you find value in doing so. Please just focus on your creative work and if you ignore me I will not feel offended. On the contrary I will feel happy about your dedication. I am using your forum to put across ideas to you and all other readers. The ideas that come naturally to me as a result of me undertaking long real-trading journey with the hope that someone finds them interesting. In fact, I would be happy to mentor any serious person who is quite familiar with spot fx trading, knows how to handle VBA/Excel PLUS any of programming language like R, Matlab, Python, C++ or Jave; and wants to be a trader, algo writer and quant analyst without me expecting anything in return except discipline and dedication on their part to succeed. The hands-on education imparted will be worth a US$150,000 if some-one were to go to university for at least two years and acquire this ACADEMIC knowledge. Another two years for actually learning how to trade. All this for free. I am 67 but I started my Personal PC journey in 1983 and love with Internet and web in 1992. I am quite fond of graphical visualisation. MAdash's part which I liked most and I use for scalping or short-term trading is the graph bars section. I firmly believe only averages, however lagging they may be, can help a self-directed retail trader like me having limited resources at his disposal. After all, almost all TA indicators are designed with average as the mother. Scalping, swing and Day Trading tactics When Japan hours start, I determine whether it is going to trend today or not? Sense of history and experience/intution developed as a result of real-time trading and chart-watching play a major part in deciding this. I use ADR as support and resistance lines and entry/exhaustion points. For timing purpose, I look at MADash and ascertain which currency group is red and which one is in green and then see the pips score card of individual pairs in both groups. For me the first fortnight of trading starts from 1st of the month and the second from the 15th. Each fortnight provides a stage for select currency pairs to perform (trend, range-trade, reverse,retrace or breakout) and once the second fortnight starts, the same currency pairs go to sleep (consolidation) or reverse . Sets of other currency pairs become active. Similar on and off side-shows of currency pairs go on every day. If major pairs are consolidating, the market can't sleep and make the investors/speculators/traders lose interest. If that happens, what will happen to the business operations of so many fx retail brokers and major market makers? Nothing. Market makers are bound to generate business for all of them. Yes , major Market makers have reared a money milk-producing cow in a country which has smaller economy, one-person controls Central Bank that can fix interest rates on considerations other then controlling or inducing inflation, and the currency counts among the world's major eight. Kiwi generates good overnight interest income for the retail fx brokers. When things go out of hand, the currency can shoot out spikes without any trigger-like situation, bring back order to the market, and generate business for brokers as well as the market makers. Fx market is never short of excitement and money-making opportunities for those who understand these games and learn to deal with them rather than shying away from it. Watching currency pairs take rest, waking up and then jogging is quite fascinating. It is like watching a circus or different instruments being used in an orchestra. I am glad you are trying to figure out who is pulling the strings for the pairs to act like this. For me, MA distance, MA cross-overs, RSI, Bollinger Bands and similar average indicators are the only means I possess and some-how I have to use them and make money. On a daily basis when market opens for Japan session, I watch for seeds (bars) sprouting in 1 m and greening baby in 5 minute and then decide whether it is going to turn a microgreen in 15 or 30 minutes or in 1 hour and accordingly I select the strongest and weakest pair to trade. The bar graphs really help me in seeing the sprouts and acting on it. I push the buttons hoping at least 8 to 9 times I net 10 pips in 15-30 minute trading (20 pips stop-loss) and 30 pips (50 pips stop-loss) in 4 hours time. I am somehow fond of moving graphs. If I can see a bar graph or Arrow slowly growing from 1 minutes to 15 minutes my brain registers it and pushes me to act upon it. Otherwise looking at stationary Arrows doesn't really enthuses me. For the same reasons I like MTF advanced multi-pair ADR chart and PsyLevels (pics attached). If Stratman's kind of sub- windows (which I have seen you using) are put in one place or an indicator is made which can print horizontal lines on the charts or at least on the selected pair's individual chart based on seconds or ticks of strong and weak currencies moving it will give a better visual aide for scalp traders. A line chart in a separate window with MA working on the ticks as well will also be useful. I think these ideas can be used for EA too. Averages of amplitudes, speed, velocity of ticks in deciding entry and exit points. A lot of work has been done in the past on these aspects of trading but not many coders/traders have done sustained work. They were good coders but lacked real trading experience or help to figure out how to put them to real use. FF or TSD provided them space for expressing trading ideas and creating indicators but the problem was they simply did not have money to put to use. On FF and FTSD a number of coders and algo writers have put out brilliant solutions based on the ideas floated by dream merchants, wannabe quants and traders (very few real traders) and exiting with a lot of frustration. Had they been guided by a real trader who understands both trading and coding processe, they would have produced wonderful indicators. Largely, coders have to blame themselves for not showing patience. Majority of coders have inflated views about their algo writing skills and the ability to hit lotteries without ever realising that trading is a very serious but lucrative business which can really get them economic freedom. They start with a lot of fantasies and start their own blogs without having no idea about how costly it is to run a sales campaign on the web and establish the online business brand. If they exercise patience to learn strategies, practice paper trading and then code (altogether for a period of at least 3 years) they would be ideal $80,000 + salaried candidates or proprietory traders for hedging firms. Instead of using forums for education, finding real traders as mentors, the forums have been treated as outlets for undertaking ego trips, stealing ideas to code indicators and attempting to sell on the web without ever realizing how tough it is to sell anything on the web, and in the process lose confidence in their own abilities to code or trade or work in any job. I feel sorry for them. PATIENCE, LEARNING AND TRADING (REAL or DUMMY) HAVE TO GO TOGETHER IF ANYONE WANTS TO BE A PRODUCTIVE CODER OR A TRADER OR BOTH. A TRADER WHO HAS GOOD AMOUNT OF MONEY RESOURCES WILL BENEFIT BY BUILDING WEALTH. A CODER WITH MEAGRE MONEY RESOURCES WILL ALSO BENEFIT BY FINDING JOBS WITH FINANCE SUPPLIERS. Shalom! |
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| Author: | 919gilead [ Mon Jan 18, 2016 10:07 am ] |
| Post subject: | Multi Currency MTF MA Dashboard |
Hi HK, You make very good sense but you also know we need to keep focused on the goals/objectives of this thread. You have good and noble intentions but unfortunately it can also be a distraction if not properly managed, and I have seen that happen to many threads. I appreciate what you have now done to open a new thread for the option subject and I have subscribed. This way, the different threads can concentrate on their respective objectives. The dashboard that we offer for free here is one of the best tools traders can use to strike a balance between discipline and patience, thus controlling that impulsive tendency to pull the trigger when there is no edge in a trade. If and when you finally decide to pull the trigger, you at least know what the stakes are. You can scalp or take positional trades. I just love the simplicity this dashboard offers me for low risk, low stress, high reward, high probability trades - even when the market is not trending, you can still glean something when 2 LTFs MA are in agreement like I did on Friday and today. I'm off to snooze and let's see what another day brings. Thank you again for the new thread where I have enrolled as your student to learn options trading. Shalom :hi: |
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| Author: | optionhk [ Mon Jan 18, 2016 3:05 pm ] |
| Post subject: | Multi Currency MTF MA Dashboard |
Hi George, Do you time and obtain any more confirmation apart from the 2 LTF MAs agreement? Any TP or stoploss? Is it MA distance or MA crossovers emitting these signals? The results are based on how many trades done? Thank you. |
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| Author: | 919gilead [ Mon Jan 18, 2016 8:38 pm ] |
| Post subject: | Multi Currency MTF MA Dashboard |
Hi HK, The market has been somehow subdued the last few days, probably because it was the week end and not much news today and bank holiday in the U.S. The EA in testing has not generated any trades since Friday because the conditions to trade were not met. Let me use the attached chart to answer your questions: I was to enter this trade few pips after candle that closed below the MA Channel but I hesitated for 2 reasons: 1. there was a potential support @ 167.00 RN 2. all the entry rules have not been satisfied yet. So I waited for break of that level to enter the trade. Discretion is a very important part of trading and this is something the computer will never have. The EA in testing never triggered any trade b/c the rules were not met and this is why a combination of manual and EA trading will be key to successful trading. On break of the RN and towards the close of the M5 candle, I pulled the trigger b/c JPY showed an overwhelming strength - strong against at least 4 pairs on M1, M5 & H1 with fresh cross on M1 & M5. GBP also showed weakness against at least 4 pairs on M1 & H1 with fresh cross on M1. I knew this was likely to be a quick one and was targeting the next .75 RN but as soon as that candle showed sign of pulling back, I closed the trade for 12 pips leaving just about 5 pips on the table. So * Yes I time my entry * Yes I confirm with the dashboard. I will sometimes bend my rules to take trades where the M1 & M5 are in agreement or the M1 recycling in the direction of a HTF trend, and the M1 is showing overwhelming strength and weakness @ 5+ pairs. I always believe that trend resumption will start on the M1 and build into the M5 and upwards, so this explains why I anticipate price action and can sometimes enter early with reduced risk * SL is on the opposite side of the MA Channel or entry candle to a maximum of 20 pips (+5 sometimes) and sometimes no SL, but generally no TP because I am trading strength and weakness, and trust my edge * Signal is based on MA Single Line cross * And result is based on 5 trades for today as enclosed and 6 for last Friday. Cheers |
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| Author: | optionhk [ Tue Jan 19, 2016 4:58 am ] |
| Post subject: | Multi Currency MTF MA Dashboard |
Hi George, Making of the EA - challenges Attempting to capture via EA the decision making process of a discretionary trader whether the market is trending, moving side-ways (consolidating) or choppy is something I would love to see. You can measure the expansion and contraction of currency strength via Averages - it could be MA distance, MA cross-over, MA Angle, BB, RSI and similar indicators - but you need to decide whether this will happen today or not. Scalping (hit-and-run for a couple of pips) will work for a trader with a sharp-eye. If damage is done, it will be limited anyway. But there will be days even scalping is not feasible when all the pairs come to standstill in anticipation of a big move from the market like on the eve of FOMC, NFP, etc. Traders, including those with the advantage of having watched charts for a substantial number of hours and developed some kind of intuition, damage themselves on this front. It is commonly known that 80-85% of the time market is not moving as ferociously as we want to. Now for EA we have to define this period and write logic for it. Yes EA for scalping is possible by supplying the logic (Entry and Exit) : whether to enter on timeframes agreeing, or timing it as well (most active hours in Tokyo, London, Frankfurt and New York). Planning exit is the easiest part. A jackpot can be hit by identifying the trend and getting out in a timely manner and patiently wait for another trendy day. Psychologically, it is tough to wait for the day having made a few kills. Yes, EA can be a big help. Having failed on this front of identifying trends, I shifted to currency options and that paid off for me. I sell options and manage risks. I don't look for any trend or guess direction because my money is coming from premium decay. Managing risks involves managing money and I do need relatively deeper pockets than spot fx is used to. I personally feel this kind of EA (basically a predictor) is doable . For this we will have to go back into the past, use artificial intelligence (instead of a trader's intuition) to determine on a day-to-day basis whether it is going to trend or not. Algo writing is easy but it will be challenge a for quant/coder. And you hardly find people with patience these days. |
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| Author: | mosiskv [ Tue Jan 19, 2016 9:52 am ] |
| Post subject: | Multi Currency MTF MA Dashboard |
Hi George/Rene 1. Good idea to focus on the core functions of the indi / ea can come later if at all NeXT Version: 2. Agree with the width settings "SymbolCellWidth" as this is practical for more compact size on notebook when travelling. 3. MaMethod - would appreciate if you(George/Rene) would consider expanding this to attached example as this expand the ma setting possibilities in a practical/more precise way.(i use various of these to get different results). Thanks Cheers |
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| Author: | 919gilead [ Tue Jan 19, 2016 8:25 pm ] |
| Post subject: | Multi Currency MTF MA Dashboard |
HK, Thanks for your thoughts on the proposed EA and your points are noted as I know Rene is reading too. Cheers |
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