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Gann Ribbon 10.7 System
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Author:  slowkey [ Wed Jul 23, 2014 3:19 pm ]
Post subject:  Gann Ribbon 10.7 System
A two day down trend on EUR/JPY with the 30 minute as a first line of resistance and never really challenged but slightly in one location. I also like that you still get a lot of volume bars but with more data they are more revealing. Look at the white bar that signals the down trend and the one that signals the bottom.
EURJPYmH1.png
Author:  slowkey [ Wed Jul 23, 2014 3:19 pm ]
Post subject:  Gann Ribbon 10.7 System
I wanted to take a few minutes to give you some wonderful free sites to learn. The first site relates to fundamental analysis.

https://www.khanacademy.org

The first place is Khanacedemy ... If you are not familiar with it you should be because Sal Khan has started a wonderful educational initiative. With sponsors like Bill and Malinda Gates he has built a solid free educational site that anyone of any age can learn at his or her own pace. He now has a large staff working with him.

What I wanted to point out is that Khan holds 3 degrees from MIT and a MBA from Harvard. He is a former manager of a large hedge fund. He knows macro-economics and can explain complex ideas very simply in short videos. Taking time to watch and go through the economic topics at this site will go a long way in helping you to learn important fundamental Macro-economic concepts. His story is a fascinating one and you can watch some of the interviews explaining his initiative on the site. He has educational topics from basic math through advanced calculus. Biology, Chemistry, and Physics so if you have kids this is a great place for them. You can also learn programming at his site. However the Macro-Economics section is what I primarily am point out as a great resource. If you want to learn Micro-Economics he has a section on that too. I am a sucker for free education and this is of the highest quality.

The second site has to do with Coding. Once you learn to code a general programming language it is much easier to transition into any other languages even mql.

http://www.codecademy.com/

Here right in your browser you can learn to code Python or HTML for instance. They have several languages and it is all free and really well done. Their python course has over 2.5 million enrolled. It is fun and very nicely paced. Read some of the success stories on the site and I think you will find just how far it may take you.

Cheers, :)
Doug
Author:  slowkey [ Fri Aug 08, 2014 1:20 am ]
Post subject:  Gann Ribbon 10.7 System
I will be posting a little more often once I get over a nasty bout of summer bronchitis. The free short Jarratt Davis course on fundamental analysis was made up of 4 videos. I think they offer a simplified approach to fundamental analysis for many who might get lost in the data. One does not have to give up technical analysis to trade like he does. I think understanding his approach and using it with a technical system would probably boost ones confidence in trading. I particularly like his concept of fair value. He contributes regularly on forex peace army. You can follow his thoughts on Google plus, Facebook, and other social media. They are listed on his site and I gave you that link in a previous post.

As always do not forget to look at Bobs threads on 10.7-10.9 and do not forget 10.6. By all means study CSS. CJ's thread is golden.

If you live in the US trading news with Nadex binaries can be extremely profitable. You have to know what news events will move a particular currency and the probable pip range which takes research but often you can both trade the news and fade the news. Forex peace army is one site that offers analysis. There is a learning curve with Nadex but worth the effort.

If you have not been successful trading forex you will be trading some of these approaches.

The Gann Ribbons offer a dynamic view of S/R based on a bottom up approach to time period analysis. Each period is scaled from the previous smaller time periods based on number 9 math theory. There are broad laws that govern Ribbon and Price action. They seem to hold up on smaller time periods but loose significance on the four hour and Daily. If you think about it ... how long does sentiment move the market a particular way. Sentiment being the mood of the market and with the mood of the market fearful currency trades risk off but flip the switch to risk on than greed is the player in charge. It maybe that the market is waiting on a news event than will move. This can flip back and forth between each session Asian, London and US in a 24 hour period. Larger time period trading is longer term trading. It is not at the mercy of intraday sentiment. Larger time period trading is driven more by fundamentals and central bank policy. This policy does not change in a day or week even except in the most dire circumstance like the 2008 banking crisis. News gives us information that ultimately leads to central bank action and to be able to predict what central banks might do next is knowing the one or two data points important to them in making their decisions. So I am going to start looking at higher time period ribbons to see how they reflect fundamental analysis. It is actually possible to make a time period ribbon of any length. 19 or 31 hours for instance. This fall I plan to explore fundamentals and see if there are time periods that reflect how traders are reacting to fundamental forces in the market as opposed to sentiment which I think is probably more reflected intraday by the broad laws governing intraday ribbons that were first demonstrated on the 1 minute time period. The ribbons are not a trading system with out 10.7. However they are the only dynamic S/R indicator tool I have ever seen based on time periods. So looking at higher time period may give insight on what traders have decided about fundamentals or maybe not. It may be that it is being reflect in the 4 hour and Daily ribbons if we look a little closer. CSS is a major indicator that on a daily basis should be reflective of fundamentals but can ribbons offer further enlightenment?

Cheers, :)
Doug
Author:  slowkey [ Mon Aug 25, 2014 7:55 am ]
Post subject:  Gann Ribbon 10.7 System
http://www.economist.com/news/finance-a ... ixed-rates

Great article on what may be the start of a new chapter in trading as regulators step in as a result of the Libor Scandal. It also states what has been pretty obvious. Volatility is at a 20 year low. The big players are not hedging in such a low volatility environment contributing to low trading volumes.

Cheers :)
Doug
Author:  slowkey [ Thu Aug 28, 2014 2:13 am ]
Post subject:  Gann Ribbon 10.7 System
Slowly getting over Bronchitis and really have not felt well enough to trade. I always find every break I take from trading leads to new insights when I get back into the groove. We are in a very quiet time in Forex and as I mentioned before the lowest volatility in 20 years. Summer is a good time to sit back and smell the roses and as Steve stated in his weekly post ... ONE must be careful in low volatility periods like the summer months but especially with such low over all volatility. Interest rates will need to move to get a more dynamic trading environment but there are problems that Forex is going to face as Monetary leaders and Regulators from the US, England, and Europe get more involved in light of the Libor scandal. We may see a glimpse of what these forces have in mind when the G20 meets this fall. Banks were caught fiddling with the settlement rates and this could greatly effect retail Forex depending on what nations decide needs changed. I hope this does not lead to a radical restructuring but it is my guess that the US would like to see all Forex trading on an Exchange of some sort.

The other major impact on Forex has been the onslaught of High Frequency traders into the Forex markets. This makes me very uncomfortable because the amount of trading volume has been stated to be as much as 35 percent. Quote and link to Bloomburg.

"Firms using the ultra-fast strategies getting scrutiny thanks to Michael Lewis’s book “Flash Boys” accounted for more than 35 percent of spot currency volume in October 2013, up from 9 percent in October 2008"
http://www.bloomberg.com/news/2014-04-0 ... cedes.html


I did an update of Gann 10.7 to version 4.0 with Radars very nice update of the ribbon file and keno indicators. See post one for the zip file. You still need 3.3 for the manual, CSS and other files so it remains in post one. You can see my explanation of files in post 1.


Enjoy
Cheers, :)
Doug
Author:  slowkey [ Thu Aug 28, 2014 2:23 am ]
Post subject:  Gann Ribbon 10.7 System
This is what it looks like.
AUDCADmM5.png
Edit. The dotted lines are 20 pips apart. The Plum colored lines are 100 pips apart.


Cheers, :)
Doug
Author:  slowkey [ Thu Aug 28, 2014 4:20 pm ]
Post subject:  Gann Ribbon 10.7 System
I just updated post one in my Gann Ribbon 10.7 System thread to Gann 10.7 version 4.a with the new v2 kino monitor by Radar which now has 1 decimal point accuracy for pips to ribbons.

Indicator added to indicator folder and templates now have been changed to show the new indicator.
Thanks Radar for your fast work. :clap:

Cheers, :)
Doug
Author:  slowkey [ Thu Aug 28, 2014 6:08 pm ]
Post subject:  Gann Ribbon 10.7 System
Made a slight update to the manual to clarify new indicators and system. See post one of Gann Ribbon 10.7 System for the manual.

Cheers, :)
Doug
Author:  slowkey [ Tue Sep 09, 2014 3:01 am ]
Post subject:  Gann Ribbon 10.7 System
Just a quick note to US traders. Cowboy IBFX is no more. So I do not no of any other broker in US that will allow you to trade Nano-lots. All their accounts are going to FXCM.

I have talked about low volatility but seeing it on a chart is dramatic. These two charts are from Forex Magnates.

5 years volatility and 21 year low.
EVZ_Volatility_1.png
Three month volatility showing a slight uptake at the end so maybe we will start to get some relief.
EVZ_3_month_vol.png
I am still fighting bronchitis but my X-rays are good. Hope to get back in the grind this fall if I do not succumb to handicapping horse races up to the Breeders Cup.

Cheers, :)
Doug
Author:  slowkey [ Tue Sep 09, 2014 8:33 pm ]
Post subject:  Gann Ribbon 10.7 System
Just a clarification. Now that Cowboy IBFX is gone I know of no other broker with Empty4 in the US that does NanoLots. However if you use Oanda's own platform you can trade any amount of money with just about any leverage 50 and under. So you could trade one unit on that platform. Oanda's platform is very fast and efficient. However it is not Empty4. Now you can trade both their own platform and their their own Empty4 platform but it does not offer NanoLots and you need to follow your trades on the Java platform to be totally sure of your position profit and loss and pair spreads when trading exotic currencies. I am saying this because I have talked to them on the phone about positions in exotic currencies I opened on the Empty4 account and they said I should follow those trades on the java platform for accurate profit and loss, and spread. Probably with the 28 major currencies that is not a problem. However Oanda offers just about every exotic imaginable and if you are going to trade any of them you should use their Java platform. The biggest reason I like Oanda is their tight spreads.

The biggest reason I like having the Cowboy IBFX account was for Bots. Oanda's java platform is very robust with tight spreads. I prefer FXCM Empty4 over Oanda's version that ties into the Oanda API. Oanda had to do a lot of work to get Empty4 working with their API so their Java platform remains the state of the art platform. Their Empty4 is Clunky. Their mobile platform is fabulous and just as fast as their Java platform on windows or OSX. I do not ever recall having a trade rejected on Oanda's own platform. The limitations has been the lack of indicators but that may change now that they have opened their API to 3rd party developers and have opened the Oanda Market place.

US brokers are dropping like flies. Many are leaving the US market and some like Cowboy IBFX are selling their books to larger brokers like Gain and FXCM. I agree with Forex Magnets that the NFA is trying to regulate and fine the US brokers out of business or into leaving the US market and it is working with FXDD and Cowboy IBFX now gone and FX solutions before them. Monex stated they dropped Cowboy IBFX because they want to concentrate on their award winning Tradestation platform. They had purchased Cowboy IBFX ,if I remember right, in 2011. I know of no effort on their part to move traders over to the Tradestation platform which is a bit ironic. I think there are just 9 brokers left. Dodd Frank has been a disaster for US forex traders. Locked us in to the US market and now regulating all but a few big brokers out of the US market decreasing competition and innovation. The decreased forex volumes and volatility has cost many brokers a lot of money. It does not take much pushing for the smaller brokers to leave the present US market.

Cheers, :arrrg:
Doug
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