Dynamic Fibonacci Grid, Fx Money Map - page 9
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
Mpower, regarding your stop loss using this tool (Money Map) It should never be more than 20 pips. If it moves more than 15 to 20 pips away from the profit zone it will probably continue in that direction.
Filter for MoneyMap:
I filter the Money Map signals using a 1000 period Bollienger Band on 1 min time frame. If the price is above MA I am only buying, regardless of what Money Map is reporting. This may seem obvious, but it's saved me alot of money. Money Map (4pma, Guage) only sees what it is programmed to see, remember.
A tool:
A good tool for watching the cycle on the 1 min time frame is Larry William's % range set to default settings. The daring can make alot of money scalping with this on 1 min time frame with a very tight stop, usually about 8 pips.
Used with Money Map's floor and ceiling feature it becomes very accurate.
Anyway, that's all I have to offer for the moment.
Good hunting everyone!
Also, the thing to remember with the 4PMA/Money Map, is that it is first and last a sclaping tool. You get in, you get out. You are taking the trade with the supposition that the market will make a small move in reaction to the position of the MAs. As Mpower pointed out, it is when they line up that they are signilling a possible spring board from which the price may move with power in that direction. Being a scalping tool, it should come as no suprise that this method carries more risk than systems that swing or day trade. I've been in and out of trades with Money Map in less than 20 min. The reason I like it is that if I take a 20 pip loss, I can suck it up and get right back in the market, usually making it back. If I take two losses in a row, I stop for the day.
Anyway, anyone else have any more thoughts on this?
The MAs essentially tell you: This is where the price will stall. The more MAs in the same place, the more probability that the price will react violently to them.
So if you have the price at 163.55, and there is a line of MAs across all 4 times around 55, watch for the price to reverse here. It may fall to around 33, which is probably around where the next MA is. That's a good profit though, take it and get out.
If you get the same set up, but have a MA at 44, don't take it. Why not? Well, if it falls but catches at 44, what is it likely to do from there? Go right back up to 55. You need atleast 15 points between MAs to make a profit. THis tool can only tell you what MAY happen.
This is why I also use the 1000 MA for 1 min time frame. If the above situation happened with the price ABOVE the 1000 time frame it has a lower chance of success, because the currency pair is in an uptrend. It acts as a filter.
Gut instinct and familiarity with the Currencypairs is of prime importance.
Okay... now my GRID is totally out of wack... H1 traffic lane is only visible half way above the bottom of my screen... and other are out of alignment...
also, I do not have any "cars" numbers appearing on the H1, M30, M15 and M5 lanes... I removed the indicator from MT4... uploaded again but still the same problem...
BTW: I finally got to watch the videos... and red the originator's web site... now I understand what 4PMA and GRID is...
... a great tool... if only someone here could help me with understanding the 4PMA/GRID created by Doji Starr and the modifications you mPower have implemented...
as you see there are no price numbers [cars] on the lanes... and no MIDDLE horizontal line separating North and South traffic... ??? also, there are no green and red BOXES that represent Support and Resistance points on each time frame's traffic lane... ???
Please help, thanks.Hey, how did you get this indicator to work? All it puts up for me are 4 red bars. Is it worth fixing?
NZD/USD just signalled a trade at .7330, with support MAs along all 4 time frames in a tight formation at 24, I got in at 25 and it shot straight up to 40.
I got out.
At that point it was in a resistance wall. 37 to 42 MAs in three time frames. It fell back to 22. If I'd had the guts I could have doubled my profits.
I ignored my filter though, because technically the price was below the 1000 MA, in the 1 min time frame. That 4 time frame support wall was just too much to resist though.
here is that trade. I got in at 25, right above the horizontal red line which runs across the wall of support. It jumped right up to 40 and I got out. It hit the wall of resistance up there and fell back down, likely do to the fact that it's in a downtrend.
Great scalping results with Mpowers 4PMA today
I made three more good trades today with Mpower's modified 4pma. This is such an improvement over the origional, thanks Mpower. If you watch the 1 min chart with 4PMA on, you will see how it responds to the MAs. It's really cool. It doesnt respect the MAs all the time of course, but i've been watching the charts for 8 hours now and it hasn't called a bad signal all day. News will seriously screw things up though. I'm going to start my own thread documenting my live trades with this system, will post the link.
Trades:
NZD/USD:
this pair provided two more signals, and I took them both. The first was a sell, the second a buy, back to back. In the first, the pair was again facing a wall of resistance at .7333. This still wasn't very tight resistance, as the closest resistance MA was .39, but the pair was in a downtrend so again I took the risk. It fell to 19.
and I closed. I noticed that it was now sitting on a wall of support that was forming up from the south, and it was very strong, spanning all 4 time frames. I took it. I got in at 16 and got out at 30. 
USD/JPY:
The pair was sitting on a wall of support (what I call a wall is 2 or more MAs in the same place) AND in a healthy uptrend, so I took it. Got in at 78, got out at 94.
EUR/USD
The pair had been trading for hours in a tight band between a tight floor and Ceiling of MAs, and I was looking for the breakout. The price was below the 1000 MA, but the downtrend was pretty stalled at this point, so when a wall of support formed up in all 4 time frames at 135.18 I bought. It shot up to 135.33 and I got out.
I wish I had never forgotten about this tool.
it would have saved me alot of money. Scalping is dangerous though, because some bit of news or rumer can come in at any time and change the fundamentals, which makes the technicals meaningless. Today though, the technicals won. I'll test this lil gem tomorrow too and report.
**********************************************************
Another tool for this system that I use is Forex Freeway saved to another template. Works well to compliment the trend reading from the 1000 period MA. Also, watch volume. Volume spikes at points of support or resistance walls indicates buyer or seller interest at those levels. I moniter this on 1 min time frame.
Hey!
Hey, man I am glad you're making pips. I had totally forgotten about this tool. Perhaps I should look into it again. I ran the EA for a few months and it would open a bunch of trades every day, and on trending days it would make a killing, but on ranging days it gets killed. So, I came to the conclusion that the band shades(the horizontal bars in lite and dark blue) provide excellent resistance when they line up in two time frames, and price always retraces after it hits them, but I could never figure out when it continues to the next levels and when it completely reverses. That is why on trending days there is a very good chance it would penetrate them and continue further, and on ranging days it would not. Let me dig out the ea, and the template. You can run the ea on a demo and see what it does, and maybe we can figure it out:-). By the way, I took the same trade on eur/usd in at 3518, out at 3536:-)
EA, indicator, template
Here is the indicators, the template and the ea. The ea needs the dejavu indicator attached to the chart in order to work. This my modified 4pma indicator that I have posted before, I just changed the name. You don't need the fibopiv indicator but I like to have it on my chart:-)
I just want to stress that the ea is not profitable. When it opens trades, it means that price has reached a resistance level, if the trend is strong, it will break it, if it is weak, it will reverse. You need a good trend indicator to determine whether we have a clear trend, preferably accross 15 min, 30 min, 1hour. Then the ea can help you make very good trading decisions. Enjoy!!!