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Wants to know about "The Dots" indicators.....
Hi, I am new player in forex trading. I interest and like to know who did do created the indicator " the dots" this ?. Request his aid to deliver the data I able to use in metatrader 4 along with way its use. Thank.
Hi, I am new player in forex trading. I interest and like to know who did do created the indicator " the dots" this ?. Request his aid to deliver the data I able to use in metatrader 4 along with way its use. Thank.
benny2375: three posts in different threads and all idem? copy and paste?
Hello I'm new here and loaded the indicators and tried my luck in GBPjpy for 88 pip, USDcad 3 pip was not sure what to do when the trend histo changed to orange so I closed the trade. Last trade tonight was GBPchf for 60.
Do you shut down a new trade if when the trend histo turns orange?
trying a short in chfjpy off 4h signal into resistance. thus far trade is positive 22 pip
trying a short in chfjpy off 4h signal into resistance. thus far trade is positive 22 pip
Closed out +65 as I think a possible inverse S/H/S formation may develop
Long try in nzdusd and currently down 30 pips. I also notice the trend histo is orange. this flags caution. I do have stop tucked under 4h support. So we shall see how this trade plays out. I do like the fact that price thus far is making a higher low. Not sure if it will hold so lets see.
Long try in nzdusd and currently down 30 pips. I also notice the trend histo is orange. this flags caution. I do have stop tucked under 4h support. So we shall see how this trade plays out. I do like the fact that price thus far is making a higher low. Not sure if it will hold so lets see.
Took a 65 pip loss on this trade. position closed
Hi Airborn
Sorry mate, I been away for a bit and it looks like it's only you left on this thread?
Any questions you still need answered or have you managed to work things out?
Cheers
Wayne
Stoploss etc....
Fellow dots followers,
ok, so I have been playing around with this system for a bit now, and know that it works, that it has a great variety of different ways to tweak it (thank you to all contributors) and the system (thanks Kamper) has a bit of a following from what I can see. So below are my ever nagging questions:
On a smaller account I get a little freaked out when I don't use a stoploss.... (something about blowing an account before has me a bit gun shy). While I would love to have the stones that MP has, I still think a stoploss is in my best interest. 21 pips seems to be too tight ( a lot of stopped out trades...argggh), yet I go white looking at a 100 pip stoploss.
What is the best stoploss size on the hourly chart? On the 15 minutes? Does it change based on the timeframe? Should it be based on the ATR? a percentage? If no stop is used, how do you hedge the trade correctly (I trade the GPY/JPY if that info helps...)? Does a trailing stop do the job better (I trade on efx/MBT as well as North Finance now if that info helps...)? With a trailing stop, how big should that be? What has worked for you?
Lurking in these parts for a while has me more confident than ever, and the demos in trading without a stop have been very successful. . . . until they weren't, meaning that the loss was catastrophic when it did happen (user error as well as market gyrations...).
I would like to avoid the large loss, yet not impair the function of the system. Anyone have a thought on this or willing to share their experience?
Fellow dots followers,
ok, so I have been playing around with this system for a bit now, and know that it works, that it has a great variety of different ways to tweak it (thank you to all contributors) and the system (thanks Kamper) has a bit of a following from what I can see. So below are my ever nagging questions:
On a smaller account I get a little freaked out when I don't use a stoploss.... (something about blowing an account before has me a bit gun shy). While I would love to have the stones that MP has, I still think a stoploss is in my best interest. 21 pips seems to be too tight ( a lot of stopped out trades...argggh), yet I go white looking at a 100 pip stoploss.
What is the best stoploss size on the hourly chart? On the 15 minutes? Does it change based on the timeframe? Should it be based on the ATR? a percentage? If no stop is used, how do you hedge the trade correctly (I trade the GPY/JPY if that info helps...)? Does a trailing stop do the job better (I trade on efx/MBT as well as North Finance now if that info helps...)? With a trailing stop, how big should that be? What has worked for you?
Lurking in these parts for a while has me more confident than ever, and the demos in trading without a stop have been very successful. . . . until they weren't, meaning that the loss was catastrophic when it did happen (user error as well as market gyrations...).
I would like to avoid the large loss, yet not impair the function of the system. Anyone have a thought on this or willing to share their experience?===================================================
Needless to say, since I dont use a sl, I dont really have anything to advise you with --- its one of the reasons I dont use em cause its just too complex for my alleged brain !
Most people refer to the market as driven by fear and greed, which I will accept as to the normal "dumb money", BUT I always put forth that what really counts is EXPERIENCE, because with it, you transcend all the other junk ---- its not really a matter of "controlling" your fears as being experienced enough to see there is NOTHING to fear and you have not yet approached that level of experience !
Now what does "experience" do for you while trading ? Well, first it allows you to determine TREND direction and presently on the DAILY, WEEKLY and MONTHLY charts, that trend is essentially DOWN, WITHIN A DOWNSIDE CHANNEL. What that means is the ONE YEAR trend is presently DOWN, with the currency attempting at least a dbl bottom at 192.60 area which was support way back there.
Now, THAT gives us trend direction, and once you know trend you know that holding a SHORT in this present market is probably of no danger, as long as youve been wise enough to keep your margin protected. All of this applies to shorter time frames also, but with shorter timeframes one must always be aware of the time of day, as currencies reverse their directions intraday, at pretty much scheduled times of the day, with 12 noon, 5pm and midnite, EDT being the strongest !
I said it, and while its VERY true, not using a sl is a very safe and sound method IF YOU HAVE THE EXPERIENCE, and even this site is giving webinars on NOT USING STOP LOSSES, which may or may not have been taken from my words -- dont know !
YOU MUST DEMO THIS FOR A VERY DECENT AMOUNT OF TIME TO LEARN IT AND MAKE YOURSELF COMFORTABLE WITH IT. YOU MUST USE THE OTHER TOOLS I ADDED TO KAMPERS SYSTEM (such as s+r, time of day to take trades, how to judge the "repainting" of the zig zags) and the other stuff you have to learn ! You must learn and apply this learning to whats happening in front of you.
It may have been a mistake to introduce NO STOPLOSSES, because it does require knowing where s+r live, what trend directions are happening and the hardest of all --- how long to hold a losing position (Ive held and then continued to hold close to $10K in a floating loss, and had it come back within a week to a profit, but im trading with a relatively large account --- if you were doing this, you would have to exercise proper money management FOR THE EQUITY YOU ARE WORKING WITH for it to be successful.
Your problem is you dont "know" yet and the only way to get to "know" is to just keep plooding through until you reach that "ahaaa" day.
without sitting down next to you, or trading via yahoo pm, i dont know what else to say, which is one of the reasons Ive been silent on this subject for a while ---- Its an intermediate to expert "system" and I havent really time to teach "kindergarten" or elementary school !
sorry
mp