The ideal timeseries to trade - page 6
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Simplistic Trading
mp6140
I have followed your comment on this thread & find them most interesting as I too am of the school of KIS. I understand what MM is seeking, but just don't see the need. Still he is entitled to keep searching. I wish him well.
In regards to MA's, they can be used to trade Forex, but one must learn how to read their signals & trade accordingly. This can be difficult for the new trader, but can be learned with practice. Find youa comfortable time frame, apply EMA's, learn to read their signals & the pips will follow. The problem for new traders comes when the MA's get tangled in a RANGE BOUND MARKET.
What better signal of a RANGE BOUND MARKET than tangled MA'S. Some will say MA's work only in a TRENDING MARKET....well that is true & false as they really are working in a RANGE BOUND MARKET WHEN THEY BECOME TANGLED.
For my style I don't want to enter a trade in a RANGE BOUND MARKET.
I could go on & on about this, but enough said. To each his own as they will soon learn if they stay long enough. I will say I have had the opportunity to learn from a trader who consistantly earns a high 7 figure income form trading FOREX only & when I trained in his trading room one of his main METHODS consisted of 3 EMA's on the 15M, 30M & 1H time frames. This was not his only method as he trades a proprietry method he is forbidden to disclose.
MA's are not my method, but I do take a look @ some key ones on a daily basis.
In closing you are correct trading is a simple business if you let it be, but some are bent on having numerous indicators on their chart to the point of not being able to read the bars or candles & to me this is not trading, but shear confusion that leads most to a ZERO BALANCE.
Tks for your post & if you have the time I would like to have a PM discussion with you.
$Trader
Mp --- Range Bound Market
mp6140
The problem for new traders comes when the MA's get tangled in a RANGE BOUND MARKET.
What better signal of a RANGE BOUND MARKET than tangled MA'S. Some will say MA's work only in a TRENDING MARKET....well that is true & false as they really are working in a RANGE BOUND MARKET WHEN THEY BECOME TANGLED.
For my style I don't want to enter a trade in a RANGE BOUND MARKET.
$Trader========================================================
dont believe i have ever stated that there is only ONE way to trade, as there are literally hundreds, with each indicator doing exactly what the next may do.
as far as a ranging market, that is one of the best to trade short term because one can lock in support and resistance and play the range as your playing field, but of course that is a short timeframe trade and not really good for the rookies !
moving averages work nicely in trending or about to be trending markets, while other methods work in ranging markets --- for the rookies, the difference is something they learn with experience, assuming they last long enough to get the experience.
pm me anytime
mp
Response
mp6140
Tks for the reply & points taken. You are correct about ranging markets, but I just stand on the side @ times if I'm not sure.
mp6140 Tks for the reply & points taken. You are correct about ranging markets, but I just stand on the side @ times if I'm not sure.
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often, NO position is a well taken position !
mp
Equivolume Charting Revisited - MQL4 Articles
It seems like someone at the mql4.com forum is reading this thread
the article describes the tick-based timeframe
Altough this is really a bar that closes after n ticks, and not what I meant to find, which is a bar that closes after n ticks higher or lower
(a tick is really a measure of distance in price: the smallest price change, and not a change in time, hence the possible confusion)
A slight adaptation of the article's EA should do the trick.
Using MetaTrader 4 for a Time Based Pattern Analysis - MQL4 Articles
As a rule of thumb: don't go in a trade when the Fractal dimension is constant and around 1.5, look when the FD is at a bottom or at a top or when it suddenly changes, then probably also the market direction will change. As FD is constrained in the range 1..2 and it can never be a long time at 1.0 or 2.0, you could already make a trading decision when the FD reaches a very high or low value and dont have to wait until it turns around. FD is sensitive to the time frame and period, so check out what works best for you. The FD could be used together with other indicators to get the signals earlier, and for confirmation of trading decisions and/or lotsize adjustment. Good luck!
lude:Thanks for the indicator,it might be the first FD indicator coded for mt4 with the right calculations.If you match its length to the length of the dominant cycle,it does a very good job of defining a change of status from range to trend and viceversa.As you wrote,it doesn`t gives any directional bias,but by just using some S/R(Fibos,Pivots,previous Highs and Lows,Channels and Trendlines...choose from the menu
) and break out analysis jointly with it,you can get an edge.I have found that 36 periods works fairly well for m5 and GBP related pairs...Congratulations for your work.
Simba
Hi, Simba,lutade
İs Shannon Entropy analysis (or İnformation entropy analysis) along with the Fractal Dimension, useful for the ideal time series to trade question?Please have a look at the post 31 it looks interesting(Optimised Trend Trading - Page 3
Hi, Simba,lutade İs Shannon Entropy analysis (or İnformation entropy analysis) along with the Fractal Dimension, useful for the ideal time series to trade question?Please have a look at the post 31 it looks interesting(Optimised Trend Trading - Page 3
mystified,I don`t personally care about the right tf to trade,that is the tf I am more comfortable with,usually a combo of tfs..;)
FD looks interesting as a different way to separate trend from ranging,that`s all,and the Shannon entropy analysis reminds me of an analysis done by UBS a few years ago were they "concluded" that only h1 or above tfs had a high enough signal to noise ratio to allow for successful trading..well,I know several scalpers,not my style, that systematically take money from the markets every month trading on tick charts,so,I personally don`t believe much about these kind of analysis,I just tested the FD and it looked fine,that`s all..but it is you the one taking the trade..with all your good and bad traits as a trader
Simba
Entropy rate
Hi, about entropy, FD, etc. I recommend 1 book: Amazon.com: Nonlinear Time Series Analysis: Books: Holger Kantz,Thomas Schreiber
it's kinda technical, but after a couple of rereads these things slowly start to work their way into your mind, and it comes with free software to nonlinearly analyze timeseries: Nonlinear Time Series Routines
Would anyone be interested to take the libraries of this program to MT4?
That should quickly answer all questions.
ps: just a quick note to people who don't think that science helps in trading: stay in your own thread and don't come polluting this one with personal opinions, because that contributes to nothing.