General Chit-Chat

[arco]

Slam

I have traded EUR.AUD in the past, but
prefer to stick with the mainstream
pairs unless I see the ultimate set-up.

Check one such event here for 321 pips .........

http://forum.tacticaltrader.com/viewtopic.php?t=1564

[Xerof]

Guys,

I have been playing around with some indicators, to use as signals for trade entries. The following combination has given some nice timely entries when I back test - admittedly very limited backtesting but I currently have a potential sell EUR/USD signal coming up. I won't trade it, instead will see if it pans out.

I'm using 2 hourly chart with default MACD, default DPO, and EMA's 10,20. Also Bollinger bands, just to give an indication of which end of the range its sitting at.

MACD is about to cross lower from above signal line, DPO is heading towards zero but EMA's still have a way to go.

Backtesting seems to indicate best combo is when MACD and DPO give signal simultaneously, then EMA's confirm 2 or 3 bars later.

Will see what happens later today, if indeed these two early indicators set up as a confirming combo (stress: DPO is not at zero just yet)

I'll update with a 'demo' trade perhaps....

USD/CHF is indicating same setup for a buy USD...

Xerof

[arco]

Hello Xerof

Some of these indicators may work OK if you are
prepared to watch the screen all day long.

I personally find MA's lag and whip too much to be of
use in short time frames, - unless the trend is
very strong. Divergences can be more useful IMO.

MA's may work better for longer term trading.
i.e Van Tharp's crossover or Guppy's MMA.
Bunny Girl seems to do OK with Bunny Cross MA's,
but I think that may be on indicies only.

MacD.....there are many varieties of this and
I do occasionally check them on the daily chart,
but not in real time.

Anyway, very interested to hear how you go with
these experiments.

arco

[Xerof]

Notionally just bought USD/CHF at say 1.1927. Will run a notional stop at 1.1897

EUR/USD still not quite giving combo signal

1.55 pm
Hmmm, first trap - DPO must recalculate constantly - it now shows it DIDN'T cross zero at all !, same with MACD - no cross !

Lesson: perhaps wait one bar before entering

On the same basis using 1 hour charts, these two pairs confirmed some hours ago, buy USD/CHF, sell EUR/USD.

1 hr charts just signalled a sell in GBP and NZD, but 2 hr charts still not there

2.05pm

Well, if I'm to stick to this little experiment, just signalled on 2 hr chart to sell EUR at say 1.2933, S/L 1.2963

So now set and will forget for a couple of hours

Thinking aloud here guys - maybe a technique to apply would be to fade into trades, firstly using 1 hr, then adding if 2 hr confirms, then 4 hr etc etc, with a trailing S/L

if it turns to custard, only take a loss on first entry, if it runs as expected, you're adding to a good trade each time. Any thoughts?

Understand what you're saying Arco - does need screen watching, but would only need to focus if the combo signals are closing in on target areas - still time to mow the lawns or anything else that may tickle your fancy

[arco]

Xerof

I usually watch the gardener mowing the lawns
while someone else tickles my fancy....

OK back to the serious business of TA..........

....remove all indicators and false moustache...
add trendline/s.........perhaps works just as well,
maybe even better.

arco

[Xerof]

Hehe, thought you might say that Arco

Well, chose the wrong day to give this a go - it's like watching paint dry today and of course the indicators flatlining now. I might persevere with this in private and report success or failure later on in the month.

www.fxwintrades.comuse MACD on 15 minute charts with good success (they obviously have a modelling program that seeks best-fit MACD numbers too, as they continually update these)

As I've mentioned before I'm not that flash on TA, so just experimenting in order to try to find the "holy grail" - I'm the black one

[Xerof]

We'll call it quits then - no damage done except to pride, ego, confidence....etc etc

BUT will monitor this little theory over the coming days/weeks

Xerof

and I've just clicked as to what the false moustache is

[arco]

Thank you Xerof

That photo of you is a very good likeness, and was obviously
taken just after you left the pub and were still legless.
No need to worry about what others say, it just shows
you were only having a bit of armless fun.

arco

[Xerof]

Droll, Arco, very droll, but must admit having some good laughs this week.

I'm sure you probably trade the precious metals Arco, so you might be interested in this chart from Stormy, with trend lines (and indicators)

http://www.trade2win.com/boards/atta...chmentid=13618

He also posted this EUR chart yesterday, which may be of interest - IMO now needs 1.2975/80 to cap - non-farm payrolls to determine whether we see a breakout.

http://www.trade2win.com/boards/atta...chmentid=13570

regards

Xerof

[arco]

Xerof

Thanks for the links.
Yes, I have traded Gold and other commodities over the years.
Check out a nice Butterfly on Gold here...........
http://www.sharetrader.co.nz/topic.a...5&whichpage=39

Just another true story for you.

On Monday morning I went for a blood test.
I was sitting calmly sweating with my wrist clenched and
eyes tightly closed when the nurse said "just a little prick".

I thought to myself.......how the hell does she know?

arco