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Well I just used simple settings. No changes. Small tick chart, adaptive MA’s (I just like them.. But you don’t need them) and news. I believe it was NFP but not sure. I did 50% profit on my acc with one trade. But still working on it. However, look at this picture. I believe RSI on 5tick chart is great because if you go with main trend, stoploss can be super tight. Almost everytime maximum drawdown is 2-4 pips. But there is one problem. And that is TP.. :/
a Here is picture :) Maybe this can be great for 1 pip TP theory.
Well I just used simple settings. No changes. Small tick chart, adaptive MA’s (I just like them.. But you don’t need them) and news. I believe it was NFP but not sure. I did 50% profit on my acc with one trade. But still working on it. However, look at this picture. I believe RSI on 5tick chart is great because if you go with main trend, stoploss can be super tight. Almost everytime maximum drawdown is 2-4 pips.
It’s Nice if you find out that tick chart is useful for you Brother, but I believe this is not the only one right way to Rome
Don’t you think that 5 ticks chart also visually form as ‘candlestick’ or line charts too ? and that ‘5 ticks’ also a ‘snapshot’ that ‘framing’ the movement every ‘5 ticks’.. ? and then your RSI that actually use ‘average’ inside it calculation because it read and ‘averaging’ 14 ‘close’ prices of that ‘5 ticks snapshot’ will give very different result compare to the other ‘ways’ to display visual data.
And could you explain base on ‘logical reason’ why 14 ? and why not 1 if you want to ‘avoid’ averaging, and if you use 1 why not just look at the main 5ticks chart why we need ‘Relative Index of Strength’ and ‘strength of what ? ‘Â and why ‘Relative’ not ‘Absolute’ ? and what the different between ‘indexing’ and ‘averaging’ ? and the questions growth forever..
It Just amazing that after all this years, most of us still arguing each others about how we will ‘process’ our meat to become dinner, while we talking about exactly same meat from exactly same holy cow… lol.Â
And about the ‘NFP news’ how come you could believe something that you not sure about that ? do you know how they get that NFP data ? and the answer about why there almost every months ‘data revision’ and why USA that has very sophisticated super computers to process data correctly can’t handle that simple ‘averaging’ NFP data inflow in the right time and almost always need to release ‘revision number’ later..lol.
Please keep trying to find out if your conclusion so far is base on ‘luck’ or ‘understanding’..
Happy Trading and best regards
MTH
Intuition, Experiences and Common sense..
http://www.binaryoptionsedge.com/It’s definitely not luck. :) But I guess I said “i’m working on it”. Or maybe not, I’m not sure because my first post was deleted accidentaly. Well it doesnt matter now. It works everytime, if this is luck i will go kill myself. :)) But it will be amazing to let me work. :X
It’s definitely not luck. :) But I guess I said “i’m working on it”. Or maybe not, I’m not sure because my first post was deleted accidentaly. Well it doesnt matter now. It works everytime, if this is luck i will go kill myself. :)) But it will be amazing to let me work. :X
Cool,  good for you brother.. if it work every time then this should be amazing, and become the best system at all.
By constant 50% growth every months only with 1 single trade, with only $1000, in next 4 years you could sit next to Bill Gates in Forbes Gala Dinner.
But, you still don’t answer all the questions why 5 ticks chart ? why not 10 ticks chart, why 14 RSI period ? base on what ? and which ‘tick’ we talking about ? bid or ask ? and if bid tick why ? and if we consider bid price as low tick and ask price as high tick and take ‘median (HL/2)’ value, don’t you think that this is also some kind of ‘averaging’ between high and low ? is there any different if I applied this ‘tick chart’ on fixed spread brokerages or relative spread brokerages MT4 platform ?.
And the main point is, if you looking for comparison between your 5ticks main chart and your RSI oscillator and apply ‘some’ rules to trigger your decision, then let me ask you don’t you ‘actually’ try to search for ‘pattern’ on it ? can you explain the different between ‘trading rules’ and ‘trading patterns’…
As far as I know with my noob brain, every sentences that start with ‘If’ will ended with pattern… lol
Happy trading and best regards
MTH
Intuition, Experiences and Common sense..
http://www.binaryoptionsedge.com/Well I just used simple settings. No changes. Small tick chart, adaptive MA’s (I just like them.. But you don’t need them) and news. I believe it was NFP but not sure. I did 50% profit on my acc with one trade. But still working on it. However, look at this picture. I believe RSI on 5tick chart is great because if you go with main trend, stoploss can be super tight. Almost everytime maximum drawdown is 2-4 pips. But there is one problem. And that is TP.. :/
aHere is picture :) Maybe this can be great for 1 pip TP theory.
There is no problem in TP. If your entry is accurate based on RSI – your exit should be based on same.
Just exit LONG when RSI=~65.
G.
Moderator Edit: This post was marked as inappropriate. I do not see a reason for that, so I removed the mark. (simplex)
There is no problem in TP. If your entry is accurate based on RSI – your exit should be based on same. Just exit LONG when RSI=~65. G.
So – that would suggest a trend following system, right?!
@George: Is it one? Or do you enter the market when RSI crosses the 70/30 level, for instance? Nevertheless, I think if you can make money with it, you are fine. But my suggestion is to use it only during news events. Spread will eat your account if you apply your system during “normal” times.You are right my friend. :) But remember, we try to follow trend. (we want as much pips as possible) Well.. Idea is to open trade when you can use max stoploss like 5 pips. In this case, leverage will be your best friend. :) I will show you guys something more later (with some pictures) so you will see what i mean. I can make nice S/R on ANY chart. But I need to find way how to be always accurate “super accurate”. I have something now, but still.. It’s not exactly what i want. It’s simply great thing to trade but there are some errors. I need and want to fix those. That’s why I’m here.
This can be and probably is “trend following system”. But it is possible to pinpoint exact entry so there will be almost ZERO drawdown so you will end in profit almost in few seconds. (If price is doing something of course.. If not, you don’t trade)
Spread is fine with this broker. Never had problems with anything. Most of the time spread is 0 pips or 0,1 max 0,3 (only sometimes) If more, you shouldn’t trade if you don’t like it. With some luck i opened trade few days back and found that i have 0 pips spread so only commision took me 3 dollars. But it was profit on 0 pips so it’s ok. I mean I never had problem in months. :)
@George: If you haven’t read all forexfactory.com posts from CrucialPoint, than you should do that now. I think his posts are exactly for persons like you …
Links to CPs posts?!
I mentioned some of his posts here. They are all worth reading, although it was hard to decipher his thoughts. For instance, just after extended time I realized that his statement that Newton’s laws also apply to trading is imho just a metaphor …
Relative Currency-Strength vs. Absolute Currency-Strength
Attached please find Relative currency-strength and Absolute Currency-Strength indicators.
The Relative currency-strength (top indicator) is an Oscillator which oscillate around the zero line (green line = USD). There is no MA or other smoothing in this version.
The Ansolute currency-strength indicator (bottom one) is a USD absolute strength (per BIS relative market share), also without any smoothing. This one is a directional one, and not an oscillator, much like a price-action graph.
https://www.mql5.com/en/charts/5021628/usdjpy-s-m30-atom8-financial-services?bind=1
As you can probably see, the USD movements are quite similiar, although there are some minor differences.
When trading MAJORS, which always include USD in each pair, it’s recommended to NEVER trade against the USD direction in the Absolute-Curreency-Strength indicator.
I promised this post some time ago.
In any case, this forum and the community EA looks quite “dead”, so it’s my last post here.
I’m still active in my private forum and existing members can still find me there.
G.
Hello G.
You’re right, it’s very silent if those few who are usually driving the activities do not post. That’s exactly why I did not post anything substantial for a while.
Anyway, work is carried on, see attachment. In my current CIX version, there also is no ‘extra’ smoothing involved. In that ‘relative’ implementation shown here the smooth appearance is originated by the slope algorithm itself.
I’m a bit tired to keep the ball rolling while 99 % of all members seem to be waiting for new toys, basically. If there’s new activity, I’ll certainly consider to join in.
s.
A good trader is a realist who wants to grab a chunk from the body of a trend, leaving top- and bottom-fishing to people on an ego trip. (Dr. Alexander Elder)
I thought that it was quiet here for some time, appologies on my behalf as I am working away until the end of the year at which point I hope to resurect the VIDEO thread.
I am unable to help with programming though I hope that my videos will help and stimulate others.
For anyone new here http://penguintraders.com/forums/topic/video/
Best wishes to simplex and gg53
pip
skype : pipatronic
Hi @Anti, @pipatronic:
Yes, I know there’s life outside of forex forums
I understand that you’re busy, and I appreciate the fact that both of you are among those members who really dedicated a part of their work to the community and shared your insights.
Let’s stay in touch.
Thanks for that, and all the best!
s.
A good trader is a realist who wants to grab a chunk from the body of a trend, leaving top- and bottom-fishing to people on an ego trip. (Dr. Alexander Elder)
Well yeah, this topic looks quite dead. Sadly.. However im still working on system. Or i could say just testing it.. Without trades sadly because i have some problems with trading itself (after big loss..Did not used stoploss) Don’t know what to do, to be clear.. And I’m not coder so i can’t help with anything here..
Here’s picture. Lines are made manually. Some are daily and some monthly etc.. There was amazing spike on news (high 1.1390.. This line was made in advance too!) So we could sell there. And i mean exactly on 1.1390. And I use tick chart too with some moving averages. Not simple one’s. Only yellow and blue are original simple and exponential moving averages. They are always in middle as you can see. They show something like “if they are not trending, you will sell or buy because trend is slower”
Then you see (on tick chart again) some very fast moving averages. If price goes below them and move almost to the side, you can expect price to reverse. It works quite well as you can see. Very good filter if you have some horizontal line for example we can use 1.1390 from hourly chart.
So.. I will show you possible trade now. Very simple i would say. You just wait for hourly and daily chart to agree (as most as its possible) and then sell or buy on tick chart.
It’s made so well that you don’t need to wait for ANY retracement. Only thing it needs is good trader with good physical condition so you can and NEED to use stoploss like 5 pips. Max 10 pips SL. Don’t risk much more.
Made like that 3 4250 USD from only 850 USD in three days. However.. It’s very hard to do. I did it somehow, sadly on my third trade (news again) i didnt used stoploss, my trade goes -2K USD, I closed it and price went back up as expected… If I just hold that… But.. Sh*t happens sadly. Hope it will be useful to someone. As idea or whatever… I guess I need help too. Not sure.
One more thing to my chart horizontal lines. :) As you can see, candles MOSTLY (97% of time) close exactly on my levels OR they close very close to it and then price reverse, touch my line (makes high…or low in up trend of course) and go in that new direction with almost NO WAITING.
I’m very happy that I found how to make them like that. It took me few years actually. Just need some more patience.
Picture explains:
You can find this behavior on any chart when i have those lines. And all of them are made in advance. If I only could find a way how to know where this will happen, then I could say “hey on this level price will reverse”. It works most of the time, but i really need more. And I KNOW there is way. Thanks to GG and others here. We can do it. And that’s why we must help each other! :)
Just reminder: This happens with 99% success chance on absolute high or low. Only thing we need to ask is? “WHERE will be absolute high or low?”
The ONLY TRUE chart is Tick chart. There is no such thing as price “Close” – it’s just an arbitary snapshot of price value at a certain arbitary time, based on TF, previously decided by the chart creator. If there is no Price-Close, there is also no Price-Open, since it’s an immediate continuation of Price “Close”. So, what is left are only Price “High” & Price “Low”, which are price movement within set time interval of time, based on TF. So, if you want to understand price movement,or want to trade succesfully, just draw MA(1) on High & Low to create a “channel”. MOST of your analysis on Price-Action should be based on that “channel”. Now you can see more clearly when price change direction, and with some training, even anticipate and “predict” when and where such events will happen.
Interesting statement. But is it really wise to use that channel alone? I think that you need at least one more variable. And that is current prize. That is exactly what I tried to do using my market sentiment calculation (http://penguintraders.com/forums/topic/trading-made-really-simple/page/3/#post-9683)
Next question: Why should we use that MA(1) channel? You say that time frames are arbitrary. So why should we than attach MA(1) to higher TF bars (higher means higher than tick chart). Why not looking for the highs of last x periods (Donchian channel)? Maybe we have to analyze a whole spectrum of settings of x. In each case, market sentiment would be up as soon as recent prize is above the mid-line of our channel. However, that is not always a valid signal as prize don’t care about this line.
And all of them are made in advance.
Ok, but with such an abundant number of levels on your chart you’ll always find some bars reversing close to one of them, and probably even more bars that do not.
What’s the edge provided here?
s.
A good trader is a realist who wants to grab a chunk from the body of a trend, leaving top- and bottom-fishing to people on an ego trip. (Dr. Alexander Elder)
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