in the chart there was a long signal entry at 1.7610 initial stop of -35 would be at 1.7575 (yellow line) the market crossed the fatl line and dropped to 1.7584 almost hitting our stop. then turned and went up to hit the +50 target of 1.7660 +
there was a second entry signal long at 1.7625 target +50 1.7675 but the market only went to 1.7669
so there is still some discression needed, the first signal would have given our target if we just followed the original rules.
Don, please may I correspond with you vai e-mail until I manged to catch up? What Oscillator are you using that looks lik the FX_Fisher_gone_Better?
no more FATL
well today if you followed the this system you are done for the day with + 50
The FATL is not working the way I hoped as it would have closed the trade early only to watch it go to +50
So I will not be using FATL as a filter.
however look at today's chart, The yellow line is the 34 EMA this is one of the better EMAs I have seen. look how it contained GBP maybe this is our filter?
forgot to post the chart
Yes you may donbrandon4[at]hotmail.com
The oscillator is just the awsome oscillator that is in the mt4 indicators (not custom just regular indicators)
break down for today
Previous 24 hour high and low (New York)
Signal to short at 4:40a.m. EST (New York) 5 min bar low at 7725 following rules we wait for the next bar to close and place entry at close of that bar -5 the 4:45 bar closed with a low of 7725 so initial entry was set to 7720
Since we are going short we look at our support levels
Support (100, 150 & 200 levels) = 7678, 7628, 7578
the 4:50 bar has a low of 7726 so entry set to 7721
the 4:55 bar has a low of 7731 so entry is set to 7726 This entry is hit so we are short the market at 7726 initial target is 7726 - 50 = 1.7676 (This is right at our first level of support so should be an atainable target)
The 100 level of support / resistance is usually minor but the market will sometimes turn there and go the other way so don't take it too lightly.
hope this helps and keep comments /questions comming
thanks for editing the email
Today we had a long signal at 2:55a.m. EST. this signal gave us an entry at 1.7663. the market went up to + 30 so we moved stop loss to b/e and that was as high as the market went.
so the first trade was stopped out at break even
first attached chart
second signal was to short at 10:00 est this trade was closed at 12:00 est for +27
Don, I have been using the 34-EMA with great success for many years now. However, it still had false signals and Nina's suggestion of using the "50" is a vast improvement! I suggest you change your settings and compare.
Secondly, I find the 25-LSMA an outstanding indicator to exit - to tell you the truth, I run both 21 and 34-LSMAs until I "stummbled" onto the setting of 25. You may want to experiment here.
Finally, the Fisher_v1 is undoubtedly one of the finest oscillators available. Ypu should read John Ehlers' paper on this and you will never ever want to trade without it. Yes, I see your Awesome Oscillator, but it is no patch on this Fisher. You may know that the fisher is also available as a Histogram. I think I am pretty much up to speed now, but thank you for your e-mail details, I will correspond there also. Best wishes for LONG pockets and SHORT arms, always.
looks interesting system here....
How many pips you put SL for first entry point ?
Forex Indicators Collection
this thread was ignored long time... what happen?