Starting with manual trading? make your question - page 6

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syedrizwan:
I do understand this situation, I am not saying that I wont be up for losses I am more than willing to accept that.

So now a very very simple system to start with?

Also, given your explanation of consistency above (which I agree to) what is then the difference between a "simple" system and a "complex/advanced" system?

Regards,

Riz

No difference between simple and advanced. Only the trader's mind thoughts.

 

Thought so, the whole point of writing here (and I am enjoying it) is that I have become sick and tired of talking to websites and videos. So for the first time I am talking to a human being (I hope you are not a bot linuxuser ).

Now can you please let me know about a "simple" system that you think you have good command over and know the nuts and bolts of it? Be warned I would be asking a lot of questions about it.

Regards,

Riz

 
syedrizwan:
Thought so, the whole point of writing here (and I am enjoying it) is that I have become sick and tired of talking to websites and videos. So for the first time I am talking to a human being (I hope you are not a bot linuxuser ).

Now can you please let me know about a "simple" system that you think you have good command over and know the nuts and bolts of it? Be warned I would be asking a lot of questions about it.

Regards,

Riz

Maybe this ones...

https://www.mql5.com/en/forum/178666

https://www.mql5.com/en/forum/178487

 

Simple Trend Follower System

Thanks Linux user, for the first time I have read some material (the pdf file) which has satisfied the senses of knowledge. Although due to inexperience I have following questions/Comments if you may want to answer:

First of all, what I have understood is that when trade into the direction of ADX signal (DI Crossovers) when ADX is above 25 and its time to move your stops or close orders when ADX is returning back to 20/25 level. When ADX is below 20/25line we must look for divergence signals in MACD.

Please correct me if you find any discepencies in the abov understanding of the system.

The periods used for MACD and Wilder'sDMI what is the significance of those values?

I also think, that the use of S&R indicator (as per the template) can make the use of MACD redundant, say e.g. when ADX is below 20 then S&R levels are really close to each others, I think that's the time to place stop orders in both direction according to S&R levels and wait for the breakout and then follow the system as the original system.

What are your thoughts?

I will be looking at the advanced strategy later (makes me think why am I not following the lab trend signal alone?)

Regards,

Riz

 
syedrizwan:
Thanks Linux user, for the first time I have read some material (the pdf file) which has satisfied the senses of knowledge. Although due to inexperience I have following questions/Comments if you may want to answer:

First of all, what I have understood is that when trade into the direction of ADX signal (DI Crossovers) when ADX is above 25 and its time to move your stops or close orders when ADX is returning back to 20/25 level. When ADX is below 20/25line we must look for divergence signals in MACD.

Please correct me if you find any discepencies in the abov understanding of the system.

The periods used for MACD and Wilder'sDMI what is the significance of those values?

I also think, that the use of S&R indicator (as per the template) can make the use of MACD redundant, say e.g. when ADX is below 20 then S&R levels are really close to each others, I think that's the time to place stop orders in both direction according to S&R levels and wait for the breakout and then follow the system as the original system.

What are your thoughts?

I will be looking at the advanced strategy later (makes me think why am I not following the lab trend signal alone?)

Regards,

Riz

About ADX system, stay on simple first. Divergences comes next. Asking a new guy to trade divergences with real money is like to give a shotgun to a monkey Too dangerous.

Don't worry about values. MACD then on first posts (it's replaced later by normal MACD) is Dinapoli MACD. That values have few difference with normal MACD. And for 14 DMI it's because Wilder's book talks about 14 and many many traders follows those standard values. I mean, that values work.

MACD 12.26.9 was thought to trade weeklies by Gerald Appel, however it's widely accepted it works for all time periods.

S&R Indicator was removed on later posts. Please, read whole thread.

 

Indicator Idea

a small bar somewhere visable on the chart that tells you what color the 5min helkin ashi is. Say your working off of a 1 hr chart and want to keep up with the 5 min helkin ashi. Also the time left until that 5 min bar closes.

just the one bar somewhere out of the way on the chart.

I always switch back and forth to the 5 min to check it out and thats really no problem for me. just an idea.

 

hi, I would be much appreciated if someone could help me add audio alert for WPR candles indicator; I posted this request in "indicator's with alerts" in Metatrader 4 Indicators forum

 

Well one thing for sure, there is no FREE lunch!

Hi Linuxser!

I am new to FOREX and i want to start manual trading soon. But after some time spend on reading and "testing" i found this: Every new information i found makes me more confident and destroy my ability to make proper decisions. All these indicators , systems, ea's etc. just make me arrogant and egoblind! So my question is: Can you please put together something like a chart of indicators used in forex separated by type, calculation, idea and etc.

Most of the people like me, are just downloading until the number of indicators is more than the time we spend trading! If this "chart" is available i will probably delete the thousand indicators we all have. Most of the guys say "keep it clean!" my question is HOW? We all are tempted by the next best indicator, not knowing what it is, what it does or how to use it. What is the point having 34 MA based indicators with fancy names? And ..."one last thing! Why not set up a weekly challenge using only 3 or 4 indicators, and then help us reading them and find our mistakes.

P.S The best deal i ever made is long-term and has great return, the 12 bucks invested to subscribe to the Elite!!!!!

 
goodypm:
Hi Linuxser!

I am new to FOREX and i want to start manual trading soon. But after some time spend on reading and "testing" i found this: Every new information i found makes me more confident and destroy my ability to make proper decisions. All these indicators , systems, ea's etc. just make me arrogant and egoblind! So my question is: Can you please put together something like a chart of indicators used in forex separated by type, calculation, idea and etc.

Most of the people like me, are just downloading until the number of indicators is more than the time we spend trading! If this "chart" is available i will probably delete the thousand indicators we all have. Most of the guys say "keep it clean!" my question is HOW? We all are tempted by the next best indicator, not knowing what it is, what it does or how to use it. What is the point having 34 MA based indicators with fancy names? And ..."one last thing! Why not set up a weekly challenge using only 3 or 4 indicators, and then help us reading them and find our mistakes.

P.S The best deal i ever made is long-term and has great return, the 12 bucks invested to subscribe to the Elite!!!!!

Sorry for late reply

Do you mean sort indicators by classes?

It was already done on several books over las 20/30 years

You told me you're new, so, my best advice is to start by reading something like:

Amazon.com: Technical Analysis Explained : The Successful Investor's Guide to Spotting Investment Trends and Turning Points (0639785334491): Martin Pring: Books

Amazon.com: Technical Analysis of the Financial Markets: A Comprehensive Guide to Trading Methods and Applications (New York Institute of Finance) (9780735200661): John J. Murphy: Books

And you will have anything you need to start and general overview about trading.

Best, you will have two pieces aver your desk to check every time you have some doubt. It's interesting, but within some time you will tend to read something, some page, some paragraph, over and over. Just as you did on school with some text books.

And better, you're reading from masters. People who really studied what's going on behind and not from some "marvelous forum trader" which also are the first on renaming indicators.

You need to understand what indicators are measuring. Because indicators measure figures and makes calculations, but also measures market psychology.

 

Correlation Code

Anyone heard about the new hype "Correlation Code "

Thanks

Fabio

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