**Steinitz** Method Revealed Here - page 45
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But there are a couple of reasons why I stayed in this trade even though three blue squares appeared. The attached chart is from the previous day. You will notice that the 1.1300 level revealed to be very strong resistance. Notice how many times the price was repelled. Also, there was no major news announcements Friday to cause any extreme price moves. For me, as long as the price did not make a convincing move above 1.1300 I was staying short. Thanks for the great thread both here and on FF and also for the awesome trading method!
I don't see the same area I was referring to on the latest chart. But you mentioned it so you know what I am referring to. I do want to stress this BIG time on my thread.
I am developing a method that needs to be mechanical. I want all users to come up with the same results. I would like an EA to only look at 0000 & 1111's to decide what to do.
Many if not all the members love the simplicity of the rules. If I wanted to make this complicated I surely could have added indicators. This is the thrust of the design to keep it simple and mechanical, hence the colors.
No offense but please save the technical analyasis for another thread. I am not upset and don't take this wrong my friend. Everyone here wants a simple and powerful method that so far is outperforming most systems on any forums I have seen thus far.
I am getting new forum owners emailing me to start a new fully moderated thread that I can control. I don't want to spread out to thin and get burned out. I am staying here for now.
Thanks for your insight and I am sure it is valuable but lets keep it simple here.
Thanks
Membership announcement
I just want to say to all new readers that if you wish to become a member please PM me with why you want to join and your email address. The reasons for this membership is to only release to you important alerts, EA's, upgrades, refinements etc.
I already have some improvements to indicators and additional new ones that I am keeping to release at the right time. I also want to say I have been in contact with "Bluto" and he is certainly 2nd to none on his overall love for programming and extensive knowledge of code. What makes this more exciting is he has a great mind for thinking outside the box.
He has already developed numerous EA's that actually produce profit. He is dedicating all his free time to me and this method with the hopes we can make this the most profitable EA to date.
No promisses at this point. I live in the real world and I will wait to see if we can make it mechanical.
Thanks!
Puzzle
If we are going to trade the original method with a better or more consistent profits we need to put our minds togther and figure out what makes one entry with two like colored bars a better entry then another with the same set-up.
I can give you some hints or starting points to look at:
1. Longer TF's to see what the price is doing. Look at higher TF's and see if the price is touching the HAS indicator. This is helpful as an indicator in istself that this entry is the one that starts a good trend.
2. Divergence (without another indicator...please)
So that is what I can offer. I need all your brains out there to see what you come up with. If we are to become really successful with the "original method" this puzzle needs to be solved to achieve MAXIMUM profits.
The "scalping method" is complete and needs no work in my opinion.
No problem
No offense steinitz, I just wanted to give some insight into what I was thinking at the time. I wasn't trying to complicate the system, but I guess it just turned out that way. Keep up the good work!
I don't see the same area I was referring to on the latest chart. But you mentioned it so you know what I am referring to. I do want to stress this BIG time on my thread.
I am developing a method that needs to be mechanical. I want all users to come up with the same results. I would like an EA to only look at 0000 & 1111's to decide what to do.
Many if not all the members love the simplicity of the rules. If I wanted to make this complicated I surely could have added indicators. This is the thrust of the design to keep it simple and mechanical, hence the colors.
No offense but please save the technical analyasis for another thread. I am not upset and don't take this wrong my friend. Everyone here wants a simple and powerful method that so far is outperforming most systems on any forums I have seen thus far.
I am getting new forum owners emailing me to start a new fully moderated thread that I can control. I don't want to spread out to thin and get burned out. I am staying here for now.
Thanks for your insight and I am sure it is valuable but lets keep it simple here.
Thanks
Don, I'm glad that we have Bluto on board, he's a great programmer, sharp as a tac and an all around good guy. Thanks for sharing with the members his level of commitment.
I just want to say to all new readers that if you wish to become a member please PM me with why you want to join and your email address. The reasons for this membership is to only release to you important alerts, EA's, upgrades, refinements etc.
I already have some improvements to indicators and additional new ones that I am keeping to release at the right time. I also want to say I have been in contact with "Bluto" and he is certainly 2nd to none on his overall love for programming and extensive knowledge of code. What makes this more exciting is he has a great mind for thinking outside the box.
He has already developed numerous EA's that actually produce profit. He is dedicating all his free time to me and this method with the hopes we can make this the most profitable EA to date.
No promisses at this point. I live in the real world and I will wait to see if we can make it mechanical.
Thanks!
If doing the scalping, what about figuring the worse DD and divide it by 'n' and add to the position each 'n' increment? We were willing to hold thru DD....why not take advantage of it instead? When ahead with all positions(which should be a lot sooner than holding only one) exit with some profit.
If doing the scalping, what about figuring the worse DD and divide it by 'n' and add to the position each 'n' increment? We were willing to hold thru DD....why not take advantage of it instead? When ahead with all positions(which should be a lot sooner than holding only one) exit with some profit.
Not a bad idea! Cost averaging the positions that go "X" number of pips. At that point one might add to the position like you said. The only advantage I see to this is making up ground quicker then waiting for the original position to come back.
The flip side is that you will lose more money if we exit with our stop based on the rules of the upper TF turning opposite color. That's why an EA would help out tremendoulsy to tweak it until we find the worse case scenerio DD and once known it becomes much easier to design a method around that variable
Something to think about......
Thanks
Of course i am talking of using only the best ONE pair. And then getting a figure of the worse DD doing this. And then using progressive MM. Like, divide profit by 4X Max DD = #lots to begin and go from there.
Moving the Signal Bar Display.
I know this might sound dumb, but how do I move the Signal Bar from 'Top Right' to 'Top Left' of the chat?
I read through the threads and couldn't find a way to do it. Yet on charts posted here, it was display on the Top Left.
Appreciate if anybody can help me out here. Thanks.
Tried 'editing' the 'inputs' of this indicator, but doesn't seems to work too.
Steinitz, is there a cost to become one of your members?