Lets Get Real - page 2
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If you get to a point where you feel like you are ready to take it to the next level (meaning actually looking at the statistics and doing R&D and expanding the method), I may be of some assistance. It may be something you are already aware of, but it is very similar to the current method except it opens up a whole new universe of doing what you are doing.
Like I said, I don't personally trade this method, however, I'm always researching and learning. And there are way too many garbage to wade through on the internet, and if I don't feel it is a concept with an edge, I won't even bother responding. This is something I always keep looking at, and hope to look further into when I have free time.
This method has promise because it is simple. If I see a strategy with more than 2 indicator stacked together, I automatically skip it because I like to do the dirty work and get into the statistics. I also believe in kinetics, so that is why this interests me.
Here are the trades I took yesterday and today. This is a live account. Yes, it is a small one but I place all my trades here and with software copy them to my larger accounts. This is real money.
I should have taken many others but was otherwise occupied at the time. I will try to apply myself more diligently for the rest of the week.
I took a loser this afternoon that I should have closed prior to the hour ending. If I had, it would have been a small gain or at least BE but I just couldn't do it. I failed to see the DOW rallying and got smacked instead. I have to learn that 5 pips is still a win. Having said that, I still get that nagging feeling that stop hunters took me out.
Just went short cable again. Looks like it should break this time.
a blast from the past
Hey Rad,
Good to see you back posting again. While I have read TRO's stuff in the past, but never delved too much into it. At the risk of sounding lazy (which I am not
), wouldn't the 'if hour is up/down" be in a constant state of change until the end of the hour?
Or is it that if the current candle at the present time is above the hrly open, then we are looking for longs, but 5mins later it could be short, then our bias changes?
Looking forward to your further posts.
Regards,
K.
Well I was an hour early for this trade but I am still short. See how the open of the hour as delineated by the double blue and red dotted lines serves as the hard deck for the trade? If we are below that, we should be short. Also the RSI turned red and the CCI dipped negative and turned red too. Basically everything lined up right.
Now there will be hours that it doesn't work so well but it is pretty consistent. I have another indicator that also shows the hour open and shows the past levels too. I may post that for you to see how it works in backtesting.
(Sorry, I posted the wrong chart before!!)
As I do it, only trade in the direction of the candle. If half way through the hour you are up and long but it reverses, I will probably just close my long and wait to see where the next hour opens and what it shows.
Try not to trade against the hourly direction. Pay attention to the daily too. If the pair is up for the day and rising, add bias to your long trades and vice versa if the day is down.
Closed it out for nice run. See where things go with the Asian open 1930-2030 EST.
Hey Rad,
I've tried to find TRO's posts/thread here, but can't seem to. Can't even find him in the members section. Could you pls put a link to his original ideas that you have adopted, so we can read up on it, and get a better understanding of your method.
Regards,
K.
EDIT: Not to worry, found him under TheRumpledOne.
Google search.
I hope you will appreciate......
Hi Rads,
First of all thank you very much for sharing this T.S.
I think it was at the end of 2007 when I came across Rads Reverse MTF HAS T.S. A very nice system too that I have been using for quite a while and after some time I also have developed a T.S. derived from the principles in your sytem. It's all in a different forum b.t.w.
Well we have another subject here and the basics of this T.S. also appeal to me..... In a different setup I have been trading charts in hourly divisions and therefore I would like to share here some experiences with that one....
In my setup the Kijun/Tenkan is being used because the setting of 27 provides besides guidance of trades..... quite a remarkable guidence regarding entry points too. For instance right here in the first chart this is all quite obvious at the yellow triangle.
Another remarkable thing using the Kijun/Tenkan is trading "SunWheel" structures. These occur when the Kijun/Tenkan is going to cross price in the middle of a circle.... or when a trendline connected to the Kijun/Tenkan is going to cross price in the middle of a circle, i.e. the distance from the entrance point projected from the middle of the circle in the same direction gives you an indication where your exit may be..... Some examples of how this works are shown in the two lower charts.
Below is a template too for my setup of your RADS-BZ T.S. Because I actually never look at the coloured spikes on the Randy Candles I have replaced them here with neutral (gray) spikes.
Next I have added dots (BrainTrendSig4). This indicator I have slightly modified from BrainTrend1 and therefore have called it BrainTrend4Sig. I find the original versions hardly usable because of far too many dots. Yellow dots come into play when bars are red and Aqua dots come into play when bars are green.
Have a nice day, John