mathsfreak
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IM pretty new to this and I keep hearing this term but I dont know what it is or how to use it? Is it any indicator that you use to confirm an entry signal?
Thanks
Thanks
What is a filter?
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wasp
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I thought they helped keep fish tanks clean?!
It's any set of criteria that you may wish to set up to select specific instruments e.g. specific equities to examine more closely, to plot prices or upon which to perform some action e.g. buy/sell.
Most broker platforms, free charting software sites or charting software will have some kind of filter functionality. It may be based on ranges of prices, volume, amount of activity, biggest % change, fundamentals or indicators.
They are used to restrict the number of specific instruments you need to look at. As you said they could be used to select candidates according to entry signal
Charlton
mathsfreak
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IM not surew if the above is meant to be a rhetorical question but I meant how exactly do you use them in the analysis? Here is the reason why I am asking this-
(I found it via a link on another thread)
Welcome!
I will trade my long-term trading system in EUR/USD and GBP/USD here.
I wish I started a couple a days ago. Then I would sit on a 2+500 pips profit.
The rules are very simple:
1. Use a 30 min chart.
2. Use RSI 50
3. Use MA 50.
4. Buy or sell the cross over of the MA 50.
5. Use a 10 pips filter.:arrowl:
6. Use MA 50 as your s/l.
7. Use RSI 50 as a filter.:arrowl: Be carefull to buy if the RSI is over 55 - and be carefull to sell if the RSI is under 45. Depending on the market.
8. When you have a 20 pips profit, you move s/l to breakeven.
9. When you have a 30 pips profit, you move stop to 10 pips away from entry.
10. After that you gives your position a free ride. Depending on the market.
(I found it via a link on another thread)
Welcome!
I will trade my long-term trading system in EUR/USD and GBP/USD here.
I wish I started a couple a days ago. Then I would sit on a 2+500 pips profit.
The rules are very simple:
1. Use a 30 min chart.
2. Use RSI 50
3. Use MA 50.
4. Buy or sell the cross over of the MA 50.
5. Use a 10 pips filter.:arrowl:
6. Use MA 50 as your s/l.
7. Use RSI 50 as a filter.:arrowl: Be carefull to buy if the RSI is over 55 - and be carefull to sell if the RSI is under 45. Depending on the market.
8. When you have a 20 pips profit, you move s/l to breakeven.
9. When you have a 30 pips profit, you move stop to 10 pips away from entry.
10. After that you gives your position a free ride. Depending on the market.
frugi
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Rule 5 may mean wait until the price is +10 pips above the 50 MA for longs and vice versa. That would fit in with the stop being the MA itself, otherwise your stop would be your entry -1.
I like the "be careful" and "depending on the market" in rule 7.
If someone wishes to trade a mechanical system the least they can do is make the rules black and white.
I like the "be careful" and "depending on the market" in rule 7.
If someone wishes to trade a mechanical system the least they can do is make the rules black and white.
new_trader
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Most Important
When you start trading you will discover that the most important filter is the one that separates sense from nonsense.
When you start trading you will discover that the most important filter is the one that separates sense from nonsense.
Unfortunately many, when they start trading, do not discover this at first and hence lose more than they should.
Charlton
