Intraday Trading the Forex market to make consistent profit

[TheRumpledOne]

F:

Please look at the bottom left of the chart.

Is everything OK to enter a long based on your criteria?

The reason I ask is the history indicator I wrote shows "charge" indicating SHORT where charge SHORT is
(close, lr 15, 25, 45) > lr 95 and charge buy is (close, lr 15, 25, 45) < lr 95. lr95 is the RED line.

A LONG trade would have paid off nice.

Please advise, F.

Thanks

Once again here are the 3 conditions ( F, please verify )

PRIMER condition 1: Red line LR95 over yellow line LR180 to sell... Red line under yellow line to buy.

CHARGE condition 2: Price and 3 white LR 15/25/45 lines needs to be over the red line LR95 and yellow line LR180 to sell and under to buy.

DETONATOR condition 3: Buy after 2 white dashed lines LR 15/25 cross above solid white line LR 45... Sell after 2 white dashed lines cross below solid white line.

 

[TheRumpledOne]

Yes - set up looks OK

I am posting a EJ chart from this morning giving you n example of a direction bias change at 9 00 am UK time on it - and you will see the change in structure

To be clear, BEARISH occured when the red crossed under yellow and yellow crossed under green.

 

[TheRumpledOne]

Coded a multimeter FLR for Forexmospherian Linear Regression (see upper right hand part of chart) to show what red/yellow/green LR lines are indicating on each time frame. Green is bullish, red bearish and gray would be no indication.

Assumption is it would be nice to know.

 

[TheRumpledOne]

F:

What time zone/GMT are you in??

 

[TheRumpledOne]

Wrote another history indicator to show if market is BULL or BEAR based on the red/yellow/green LRs.

F, is there anything else I should include??

 

[TheRumpledOne]

May want to consider the AUD pairs considering they have moved almost twice their ADR...

 

[Forexmospherian]

F:

What time zone/GMT are you in??

London time - now 8 13 pm in evening - my day close is 12 midnight London time - but rarely need day open or closes - all i need is 30 min open and closes through out my day from say 7 00 am - European Open to 6 00 pm - over 1 hr after London close but 4 hrs before US close

Will check through other messages on this thread and come back to you


Regards


F

 

[Forexmospherian]

Coded a multimeter FLR for Forexmospherian Linear Regression (see upper right hand part of chart) to show what red/yellow/green LR lines are indicating on each time frame. Green is bullish, red bearish and gray would be no indication.

Assumption is it would be nice to know.

Hi Tro

From when you took this chart picture on EJ - over the next 2 hrs price went up to 139 32 which was its top for the day

From then on over the next 6 hrs price fell to 138 55 - so a 75 pip fall and it would be interesting to see when your coding would have you selling - as my quick Lrs would be within 3- 5 pips of top - but then many others needed another 15 pip fall before the LR structure changed over to more bearish

My whole set up on a 1 min chart is designed to get you scalping from 3 to 5 pips from an interim high or low - and then to stay with the move until the next main intraday wave - whether 20 -50 -100 pips away and whether 30 mins - 3 hrs or 12 hrs away from when it started

I would expect to take between a minimum 3 and maximum 8 trades over a full 10 -15 hr period on one pair.

The fact that I cover 4 -6 key pairs a day means i average 10 - 20 trades most days - but if i stayed with pure quick white LR crossings - then i might end up with 20 -40 trades a day per pair and on 4 -6 pairs anything from 100 to 200 trades a day - and manually it's just really not possible - or even if you did it - would be totally draining and not sustainable.

So one day we need to compare a pair with my take on next trades and your readings from the coding

Regards


F

 

[TheRumpledOne]

F:

Please tell me which pair you would like me to chart and post and I will post those charts only so we can refine and synchronize the LR settings and trade criteria.

Thanks.

 

[TheRumpledOne]

F:

This may be a bit much to ask but it would help immensely...

Could you remove the LR lines that are NOT considered? The reason I ask this is because I can't SEE what the true conditions are for taking a short or long trade. Something is getting lost. I believe I have the 3 conditions as you stated coded correctly but something is NOT quite right in the signals. I posted the conditions again yesterday.

Thanks.

 

[TheRumpledOne]

Indicator says BULL based on position of red/yellow/green LRs.

Is this really a BULL MARKET formation??

 

[Forexmospherian]

F:

Please tell me which pair you would like me to chart and post and I will post those charts only so we can refine and synchronize the LR settings and trade criteria.

Thanks.

I am happy to look at either the GBP / USD pair or the EUR / JPY pair - which ever pair suits you - or if you have any preference

I can then major on one of them for a few days with more trades along with why I am taking them etc etc.

You chose which one and i am ready to start even later today or tomorrow

I am away again for a few days soon - but for June hope to be trading at least on 15 working days of the month


Regards


F

 

[TheRumpledOne]

I am happy to look at either the GBP / USD pair or the EUR / JPY pair - which ever pair suits you - or if you have any preference

I can then major on one of them for a few days with more trades along with why I am taking them etc etc.

You chose which one and i am ready to start even later today or tomorrow

I am away again for a few days soon - but for June hope to be trading at least on 15 working days of the month


Regards


F

I like EUR / JPY pair for the reason it is active around the clock and it has a nice daily range.

 

[Forexmospherian]

I like EUR / JPY pair for the reason it is active around the clock and it has a nice daily range.

OK - EJ it is

I like that pair myself - and many days its my favourite to intraday trade

Will major on it more with bias and directions - along with updated charts on a regular basis throughout next couple of days

Regards


F

 

[Forexmospherian]

F:

This may be a bit much to ask but it would help immensely...

Could you remove the LR lines that are NOT considered? The reason I ask this is because I can't SEE what the true conditions are for taking a short or long trade. Something is getting lost. I believe I have the 3 conditions as you stated coded correctly but something is NOT quite right in the signals. I posted the conditions again yesterday.

Thanks.

I find I need every LR - in fact at one stage I had over 15 - but that was too many

i tried just 5 - but found over a month it was not enough and so in the end somewhere between 8 and 10 became my preferred amount - with every LR having an input into my overall decision making

I have no problem you just coding say 4 or 5 for scalping - but for my manual method I do end up requiring the others through out a full trading day

Regards


F

 

[TheRumpledOne]

F:

The reasons I asked to remove some LRs was so I could build from the ground up and make sure I fully understand
Right now based on what you show, what you say and what I understand and code, there seems to be a gap.

 

[Forexmospherian]

F:

The reasons I asked to remove some LRs was so I could build from the ground up and make sure I fully understand
Right now based on what you show, what you say and what I understand and code, there seems to be a gap.

Morning TRO

I have no problem with you removing some of the LRs so that you can build from the ground up.

I should probably explain that my set up is very complex and as taken me years to get to the level I am at.

I am no "Master FX Trader" - I think you need more than 10 years plus of constant trading live accounts to get to that level and of course be really good at all levels - ie scalping - intraday swing - swing - longer term and position.

My forte is scalping to short term swing and I therefore use mainly the tick chart - 1 min chart for my trades - as I am interested more in high probability along with quick moves with possible high RR's - ie a 15 mins 30 pip move with a 5 pip stop is a RR of above 5 - that's what I want - and ideally 3 or more a day

I am going to give you an example of my LR system on a 20 min chart - chose the EU - simply because its a great example of a nice fall in May of over 370 pips. - SEE CHART ABOVE

If I purely traded this chart - i would have just kept loading sells on from the afternoon of May 8th and then May 13th and 20th

But during that time I have taken at least 30 plus scalp buys that have made me money on an intraday basis as well as more scalp sells as well.

I am full time - i have time on my hands - i would no way stick 10 lots on a pip with a 50 or 100+ pip stop - but i will on a scalp with a 3 -7 pip stop - as for me the probability is higher and I can earn more money from the results.

This EU 20 min chart shows the LR longer term structure beautifully - but I still need the tick and the one min for more accuracy and 3 - 7 pip stop trades to earn me great RR win trades.

I hope this makes sense and please feel free to ask all the questions you need to help you get to a level of coding you are happy with


Regards


F

 

[TheRumpledOne]

F:

Once again here are the 3 conditions ( F, please verify )

PRIMER condition 1: Red line LR95 over yellow line LR180 to sell... Red line under yellow line to buy.

IS THE PRIMER CONDITION ACCURATE YES/NO?


CHARGE condition 2: Price and 3 white LR 15/25/45 lines needs to be over the red line LR95 and yellow line LR180 to sell and under to buy.

IS THE CHARGE CONDITION ACCURATE YES/NO?


DETONATOR condition 3: Buy after 2 white dashed lines LR 15/25 cross above solid white line LR 45... Sell after 2 white dashed lines cross below solid white line.

IS THE DETONATOR CONDITION ACCURATE YES/NO?


F: Before I continue, would you please answer these questions with a YES if accurate or a NO if not accurate and if NO then please provide corrections in the logic.

Once I get this step accurate, I can proceed.

Thanking You in Advance.

 

[TheRumpledOne]

Morning TRO

I have no problem with you removing some of the LRs so that you can build from the ground up.

I should probably explain that my set up is very complex and as taken me years to get to the level I am at.

I am no "Master FX Trader" - I think you need more than 10 years plus of constant trading live accounts to get to that level and of course be really good at all levels - ie scalping - intraday swing - swing - longer term and position.

My forte is scalping to short term swing and I therefore use mainly the tick chart - 1 min chart for my trades - as I am interested more in high probability along with quick moves with possible high RR's - ie a 15 mins 30 pip move with a 5 pip stop is a RR of above 5 - that's what I want - and ideally 3 or more a day

I am going to give you an example of my LR system on a 20 min chart - chose the EU - simply because its a great example of a nice fall in May of over 370 pips. - SEE CHART ABOVE

If I purely traded this chart - i would have just kept loading sells on from the afternoon of May 8th and then May 13th and 20th

But during that time I have taken at least 30 plus scalp buys that have made me money on an intraday basis as well as more scalp sells as well.

I am full time - i have time on my hands - i would no way stick 10 lots on a pip with a 50 or 100+ pip stop - but i will on a scalp with a 3 -7 pip stop - as for me the probability is higher and I can earn more money from the results.

This EU 20 min chart shows the LR longer term structure beautifully - but I still need the tick and the one min for more accuracy and 3 - 7 pip stop trades to earn me great RR win trades.

I hope this makes sense and please feel free to ask all the questions you need to help you get to a level of coding you are happy with


Regards


F

F:

What you wrote "makes sense" to a trader but not to a programmer. I have been doing both since 1977. As a trader, I can understand the gist of it but as a programmer, I need the "logic" behind your decisions.

What I "see" when I look at the chart may or may not be the same as what YOU SEE. I need to know and understand what YOU SEE!! Once that happens, then I can code it.

I took me about 3 months to learn linear regression from StockHolyGrail. It was hard because he wouldn't finish a sentence, let alone a thought. I had to keep asking him but finally one day I got my questions answered and I could see what he saw. And then came the coding explosion!! I was able to code selections and triggers that were highly profitable and still are.

F, it is obvious you have something to offer, and I am willing to learn. Hopefully, we can do this in less than 3 months...LOL!

 

[NVP]

I greatly appreciate you guys publishing and sharing this particular conversation - based on my own experiences working with programmers and the expertise , time and effort it takes I would totally understand if you go PM on this

its a free forum and sometimes I wonder if the T2W lurkers/masses truly appreciate what they see sometimes

N