100-300 Pips Per Day Any Pair Any Timeframe Using 2 Indicators - page 28
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Hello fellow traders,
I have another set up I love to use. This one is very easy to see, easy to trade and you don't have to be glued to your computer as much. It also will satisfy the trader who wants multiple trades a day and does not want to be as patient and feels he has to make alot of trades each day.
1- Put up every single pair that your broker will allow on your MT4 Platform
This allows you to have lots of choices
2- Set everyone to 1HR time frame.
3- Drag TRO 3_Level_ZZ_Semafor onto each pair.
4- Put MAC D onto each Pair set at 11,12,11
5-Drag TRO support and Resistance onto each pair
See Picture below for example.
Rules
1- Wait for Number three to show up on the pair.
2- Wait tell the Histogram peaks and retraces back the other direction.
3- It's better to see a High peak on the Mac D Histogram
The reason why this works so well is it allows you to trade often because you are looking at so many pairs. You start to not take junk trades because you know there are more pairs to look at and it allows you to not force a bad trade just for the sake of trading.
This also works because the 1hr time frame will have a pullback or reversal and it does not have to be much to make a great number of pips. Going to the lower time frames would work as well but your risk of how much it will move is the key. This will also take you out of lower time frame wip saw.
JOE SMOEYou indicated to exit after the maximum peak of the opposite side of the MACD. What if the MACD bar starts to reverse before it crosses the line to reach the opposite side? Also, for both trading systems, do I make decisions only after the completion of the MACD bar (not when it is still moving/drawing)?
Could you explain or show charts? Thanks. I've gotten stopped out 6 times in a row following method #1.
i started trading your system.i am hooked .i just trade eur/usd 1,5min ,1 hour.if 1 hour sell signal ,5 min sell signal ,i take 1min shorts.will expand pairs when i am consistent. i also use a FX5 divergence histogram with alerts.i now trade with more confidence................................thanks
I entered a trade this morning and I got stopped out despite what I considered a perfect situation (ring after ball #3 in the pic). But analysing the chart, I realized that there is a strong trend up. This is clearly shown by price, MACD peaks that are strongly positive and the 150EMA (pink line). There was another signal short prior to the one I took and it would have been a loser also.
I wonder what would be the best filter (ADX, EMA, etc.) that could be used to weed out those bad entries.
Also, there were many entry signals upwards as price crossed resistance lines, but I am not sure that I would have taken them because in many cases MACD histo turned over above 0 (didn't cross 0 level). Is it still safe to take those trades (I suppose it is).
Chamane
I entered a trade this morning and I got stopped out despite what I considered a perfect situation (ring after ball #3 in the pic). But analysing the chart, I realized that there is a strong trend up. This is clearly shown by price, MACD peaks that are strongly positive and the 150EMA (pink line). There was another signal short prior to the one I took and it would have been a loser also.
I wonder what would be the best filter (ADX, EMA, etc.) that could be used to weed out those bad entries.
Also, there were many entry signals upwards as price crossed resistance lines, but I am not sure that I would have taken them because in many cases MACD histo turned over above 0 (didn't cross 0 level). Is it still safe to take those trades (I suppose it is).
ChamaneChamane,
Look at the images I attached.
The first one shows 2 bad entries and 1 good entry. There is a reason to stick to the 0.00 crossing on higher time frames if you are going to use #1 set up.
When you go any higher the 5min for 1 Set Up you might wait tell its at 0.00 or crosses and then flip to a 5m or 1m and look for an entry or cross of S/R.
Hope that helps.
JS
Chamane,
Look at the images I attached.
The first one shows 2 bad entries and 1 good entry. There is a reason to stick to the 0.00 crossing on higher time frames if you are going to use #1 set up.
When you go any higher the 5min for 1 Set Up you might wait tell its at 0.00 or crosses and then flip to a 5m or 1m and look for an entry or cross of S/R.
Hope that helps.
JSThanks. So you mean to look at higher timeframe to confirm a cross if it doesn't cross at the one we use?
What about taking trades only in the direction from the last ball #3? Like price is always zigzaging from one ball to the other. If the last ball gets over the price, we would have to check only the crosses of support lines. If the ball gets under a price, check only the crosses of resistance lines up to the next ball #3. That way, I would have got more pips because more trades even if MACD doesn't cross 0 (see pic in my last post). It's like filtering according to the trend. Does that make sense?
Chamane
Thanks Joe that makes good sense now. Do you feel the 15 min TF is safer? Thanks
Thanks. So you mean to look at higher timeframe to confirm a cross if it doesn't cross at the one we use?
What about taking trades only in the direction from the last ball #3? Like price is always zigzaging from one ball to the other. If the last ball gets over the price, we would have to check only the crosses of support lines. If the ball gets under a price, check only the crosses of resistance lines up to the next ball #3. That way, I would have got more pips because more trades even if MACD doesn't cross 0 (see pic in my last post). It's like filtering according to the trend. Does that make sense?
ChamaneChamane,
What I mean is If you look for Set Up #1 in 15m,30m,1hr,4hr or daily then you will need to look for a entry at a lower time frame of 1m, or 5min.
Example: 15min chart you see cross or close at Mac D 0.00. You then would go to a lower time frame 1m or 5m and then look for crossing of the S/R to enter.
As far as trading with the trend crossing the S/R. Lots of peole trade that way. Give it a try. The one thing that will always kill you would be sideways markets. So watch out for that.
I trade that way when I know divergence has just happened.
JS
Rules
Hi Joesmore,
Thank you for your system.
JUST CHECKIING THAT THE RULES ARE:
1/ LOOK FOR CROSS OF ZERO LINE ON MACD ON LONGER TF eg 15MINS
2/ THEN GO TO SHORTER TF eg 5MINS AND LOOK FOR AN ENTRY ON BREAK OF SUPPORT OR RESISTANCE IN DIRECTION OF LONGER TF MACD CROSS (15MIN).
Thanks,
Gray.
Thanks Joe. Very helpful information.
Chamane
Hi Joesmore,
Thank you for your system.
JUST CHECKIING THAT THE RULES ARE:
1/ LOOK FOR CROSS OF ZERO LINE ON MACD ON LONGER TF eg 15MINS
2/ THEN GO TO SHORTER TF eg 5MINS AND LOOK FOR AN ENTRY ON BREAK OF SUPPORT OR RESISTANCE IN DIRECTION OF LONGER TF MACD CROSS (15MIN).
Thanks,
Gray.gforex,
You got it. That is one way to do it. I would start at the first and read all the posts. There is alot of good stuff said and contributed by all in this thread. You will learn alot as well as how you might want to take the trades. I know I have.
JS