What's this Elliot Wave Indicator for the FX market all about?

Mark,

"cable" is just a affectionate term for the GBP/USD currency pair.

JTs system, many of which are free, ChowClown has kindly posted the link in his post number 216 on this thread - this is the JTs own Spot-On thread where he describes his rules.
Please read that thread - very informative.
 
trendie said:
Mark,

"cable" is just a affectionate term for the GBP/USD currency pair.

JTs system, many of which are free, ChowClown has kindly posted the link in his post number 216 on this thread - this is the JTs own Spot-On thread where he describes his rules.
Please read that thread - very informative.
Click to expand...

Trendie,

just to add to this, i dont know if you are aware but the reason it got the name cable was because there used to be a physical cable running from london to the USA (NY i think)

Just a useless bit of information for you. :)

C
 
I had a look at the above forumulas - and the values do not match up with FXCM

It could be there is some optimisation (especially with the 5 and 30 MA)
 
I have been too busy to follow this thread in its entirety and I have become rather confused by it all.

The original purpose of the thread was to assess and follow the record of the 4x Trend system for foreign currency trading.

Have there yet been any conclusions drawn as to the success / effectiveness / reliability / whatever of this system ?
 
In order to introduce some level of comparisons, it was decided to run, in parallel, JTs breakout system, and the TrendLineGBreak.
Both are relatively simple methods to use.

By comparing the results of 4xtrend against TLB and JTs breakout system, it was hoped to see if 4xtrend was worth pursuing.
JTs systems can be triggered during the day.
TLB at around 1am on Tuesday morning.
4xtrend has to be monitored 24hrs a day, as you dont know when a trade is likely to be triggered.

It has only been going on for a couple of weeks.
I am looking, retrospectively, at what the JT and TLB would produce.

I am expecting someone who actually uses 4xtrend to post their results.
I would think 3 months would be a good baseline.

Early days...
 
try heikin-ashi candlesticks.you get the trend visually.finger on the trigger when the candle length shortens on the 3 min.nice long candles with very little shadow gives you the strength of the trend on all timeframes,you can also tell if the strength is good at bollinger extremes
 
trendie said:
In order to introduce some level of comparisons, it was decided to run, in parallel, JTs breakout system, and the TrendLineGBreak.
Both are relatively simple methods to use.

By comparing the results of 4xtrend against TLB and JTs breakout system, it was hoped to see if 4xtrend was worth pursuing.
JTs systems can be triggered during the day.
TLB at around 1am on Tuesday morning.
4xtrend has to be monitored 24hrs a day, as you dont know when a trade is likely to be triggered.

It has only been going on for a couple of weeks.
I am looking, retrospectively, at what the JT and TLB would produce.

I am expecting someone who actually uses 4xtrend to post their results.
I would think 3 months would be a good baseline.

Early days...
Click to expand...

Trendie,

Have you had a chance to compare any of the three programs against each other to arrive at any real conclusions? Does anyone think the TLB is as good as JT's new Cable system? I'm really interested in knowing if TLB and Cable are similar in the way they work as well as their performance since day-trading seems, at times, to be too nerve-wracking for me personally.

Also, I take it the TLB program is initiated at 1:00 AM UK time (8:00PM EST), right? What time of day (in UK time) is the Cable system initiated?

Thank you.

Mark
 
JT breakout comparisons:

Sept 27: GBP/USD: 7-8am values; high= 1.8066; low= 1.8053.

Sept 27: EUR/USD: 7-10am values; high= 1.2275; low= 1.2246.

PS: the gbp/usd has already broken out of the range.
 
Pervaz said:
I had a look at the above forumulas - and the values do not match up with FXCM

It could be there is some optimisation (especially with the 5 and 30 MA)
Click to expand...

The 4xTrend system is decscribed in Perry Kaufmann's 'Trading Methods and Systems' - the second MA is 35 not 30.... the FXCM indicator uses simple moving averages by my calculations
 
Can anyone with experience enlighten me as to the benefits / disadvantages of using a broker or a spread betting company to trade say a 15 minute forex chart ? Im leaning towards spread betting because of the tax, commission and improving tight spread situation.
The only thing which I am concerned about is a spread betting companies manipulation of the spread. Is this a valid concern and indeed is it reason enough to go with a broker instead ? Ultimately I am looking to automate a system. I would love to hear people's views :)
 
timcannell said:
Can anyone with experience enlighten me as to the benefits / disadvantages of using a broker or a spread betting company to trade say a 15 minute forex chart ? Im leaning towards spread betting because of the tax, commission and improving tight spread situation.
The only thing which I am concerned about is a spread betting companies manipulation of the spread. Is this a valid concern and indeed is it reason enough to go with a broker instead ? Ultimately I am looking to automate a system. I would love to hear people's views :)
Click to expand...

Tim,

I am unable to give you an opinion on brokers as i have never used them. I have only dealt with Spread betting.
Using the 4xtrend system i would say the best charts to use are 15 & 30min. If you live in the UK then spread betting is TAX FREE ( this is a fact not a guess) if you live outside the uk then i believe you are subject to tax but you will have to check for yourself.

About spread manipulation, this is a subject that is always open to debate. with different SB companies comes different SB amounts. if you think one company maybe manipulating the spread or even the price the best thing to do is compare 2 companies. Find to companies that have similar SB then run them in comparison, have both screens open and check one against the other. if you find any BIG inconsistencies contact the company and alert them to your concern.

All SB companies have to abide by the FSA rules (not to say they always do) but if you feel that strongly about it contact the FSA direct and let them investigate.

try and not to take to much of a cynical view to begin with otherwise you will never trade :)

Try a few SB companies out and see what one works for you the best (all the major companies will have demo accounts you can play with)

Hope this helps
Regards
C
 
trendie said:
JT breakout comparisons:

Sept 27: GBP/USD: 7-8am values; high= 1.8066; low= 1.8053.

Sept 27: EUR/USD: 7-10am values; high= 1.2275; low= 1.2246.

PS: the gbp/usd has already broken out of the range.
Click to expand...


so far:
GBP/USD: triggered SHORT at 8:15 at 1.8052
Peaked ( or troughed ) at 1.8040 at 9:15
reversed, and trade clsoed at 9:35 at 1.8060 ( 20 point stop-loss ) for a LOSS of 8 pips.

EUR/USD: triggered a BUY at 1.2277 at 10:10
still running, but peak value so far is 1.2314.
with a stop-loss of 35 points, max point of closure is 1.2279.
( so, potentially 20 pips in the bag )

How is the 4xtrend doing ?
 
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