**Steinitz** Method Revealed Here - page 22
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Steinitz a million thank goes to you and this awsome system as a forex newbie averaging 350 pips/month =
Hi Steinitz;
Try this template and indicator
DanielI'll tell you what it is a pretty sight to behold. I personally like platforms and monitors turned down low or just less contrast whatever is easier on my eyes.
Don't get me wrong it's a lot prettier then mine!
Steinitz a million thank goes to you and this awsome system as a forex newbie averaging 350 pips/month =
I wonder what the poor is doing right now?
congrats HellGungrave_777 you are my new hero!
I wonder what the poor is doing right now?
Cleaning rich peoples houses?
Possible alternative exit method to Steinitz method
Steinitz,
I have been following the threads and started using "THE" method with consistent positive results.
So - Kudos to you and all the team of talented coders/others to make this method a reality.
I agree with the early statement of "entry method is solid, but exit is more difficult" (or something to that effect)
Whilst I have been trading for sometime (3 years) I'm always open to learning more and still consider myself a mechanical trading newbie.
Coming back to basics = profit means one can fight another day and I believe regular/structured profit taking is part of the mantra of successful trading.
Based on my observations, the big moves occur during news [doh!] ,during market open and market close.
News is somewhat irregular and for all intensive purposes news-trading is whole different ball game.
So we are left with market opens and closes.
I was thinking what about a EA/script/other that closes all profitable positions based on time.
The basic concept for this is, take your profit from the previous session positions - before it's (potentially) eroded by the next market opening session.
Scenario 1 - Market continues to trend in the same direction as the previous day - Then the 4xMasterHAS EA or manual trade alert can help you to re-enter the market.
Scenario 2 - Market begins to reverse trend compared to the previous day - Then the 4xMasterHAS EA or manual trade alert can help you to re-enter the market.
Scenario 3 - The market is going sideways (whipping) and you have a choice to enter again (scalping etc..) or stand on the sidelines.
So for each of the possible scenarios - the profit from the previous session is intact. (albeit perhaps reduced profit - keeping in mind this is a conservative exit method!)
For example in the EA/script/other there could be 3 main sessions;
1.Australia (segue into the Tokyo/HK/China markets)
2.Europe
3.US
The EA/script other can close all profitable positions in advance of the above market openings by a configurable setting - say 30 min by default.
Seeking your and others feedback on this alternative exit enhancement.
Later,
GD71
Nice indicator!
this pivot indicator is the best time for pivots can be changed it also has camilla also
Thanks for the post harold4x. This is one nice pivot indicator. Where did you find it?
Like the dog said when he got his tail cut off...
...it won't be long now.
You gotta admit, it's one sexy chart. Thanks to everyone on both forums that contributed.
Chart1
If you notice the turning point in the middle of this chart, the nonlagMA and the MegaTrend line both show a (possible) reversal 1 block before the HAS. I forgot who it was that gave these but it enhances the buy/sell signal very nicely.
Now if my other chart software would have this kinda flexibility I'd be set. I mean this chart below is one beautiful chart. And if you notice I have 10 time frames. I was thinking of this method before I came across it yesterday. That is look for trends on different time frames in order to catch movements.
Chart2
But here it is all neatly packaged with a bow.
THANK YOU ALL
about the scalping system if we ve the monthly red but the weekly and the daiy are blue here which trend we use ?short or long for intraday scalping?
thanks
HI steinitz!
Are you sure that MTF HAS doesn't repaint???