My New Day Trading System-rate and test - page 18
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a clean up
hi,
I followed this thread from the beginning and tell the truth, I'm lost in the many changes and improvements to the initial system. Can I get a summary of the last strategy to be used, indicators and how to use them?
Of course, I would be perfect to have an essential system, with minimum indicators and clear signals. Filling the video of indicators, often for us less experienced, is just one more difficulty. The ideal would be to have a visual indicator with its lines but also with clear signals as arrows, alerts and sounds.
Sometimes, the point of view of an inexperienced, could also help the professional.
thanks.
hi,
I followed this thread from the beginning and tell the truth, I'm lost in the many changes and improvements to the initial system. Can I get a summary of the last strategy to be used, indicators and how to use them?
Of course, I would be perfect to have an essential system, with minimum indicators and clear signals. Filling the video of indicators, often for us less experienced, is just one more difficulty. The ideal would be to have a visual indicator with its lines but also with clear signals as arrows, alerts and sounds.
Sometimes, the point of view of an inexperienced, could also help the professional.
thanks.G'day Salc.
Trust me mate we all want one arrow that says buy or sell and it works every time.
Sorry to hear you are a little confused but Cy threw this w2000 idea up so that we could work out how we could trade this pressure level. I have knocked up a few indi's to try and identify trading signals as others have come up with other ideas.
I agree the thread needs a clean up but Cy has dib's on the first page so he will have to do that unless he has gone awol. HELLO CY You out there mate.
This thread is still in development stage and like all of us, you may have to play with all the indi's and make the system your own and share your thoughts and results.
I myself have found the w2000 area very powerful but as much for breakout as reversal. I have not posted much in the last month because I am still trying to get a better confirmation signal. All the oscillators etc in the world are useless without seeing what levels they have to penetrate.
In larger time frames and with plenty of stop money behind you Fibonacci is the only way to go but it is very trader subjective.
Cy has thrown up the Murray lines but I have found that they can let you down as well and adjust constantly so it is very hard to visually back test them.
That being the case I have spent the last month developing an entire new set of levels that you will not find anywhere on the net which has it's roots within Fib's but is pip based not % based as Fib's are.
I am nearly finished developing a set of 4 indi's that will show all these levels with the ability to backtest EA them etc as they are buffer based.
This I have done so that using the w2000 system as well as any other is easier as a lot of hidden levels have become apparent to me that we need to break before we enter a trade.
I will probably point people here to a new thread on levels when I am done as they need to be discussed separately so that we can all get the best out of them.
In the meantime, I would suggest that you at least identify the w2000 levels which the Williams trade indi will do with arrows and then apply whatever knowledge you have re macd, stochastic s, RSI etc to see if there is enough coal in the boiler to push it over the level or whether a retrace is the order of the day.
Given time I am sure a wrapped sanitized newbie friendly system will arrive, but to make it easy to use and profitable often takes the collective knowledge gained by many of us who have lost real money and spent way too many hours staring at a screen while we paid the market our dues before we made any real money apparently easily, so check back and just keep following the thread along.
Anyhow, enough rambling. Happy pipping.
Cheers.
you guys keep talking about the w2000... but i can't find in this thread nothing about it! If its the original cy idea, when did you decide to name it that way? can someone just please repaste the essential indis for this strategy? I would like to start testing, but i don't know what to download and how to set it up.
It could maybe be my problem because i'm not of english language, but all i want to do is try the strategy and get some pips like you all did
you guys keep talking about the w2000... but i can't find in this thread nothing about it! If its the original cy idea, when did you decide to name it that way? can someone just please repaste the essential indis for this strategy? I would like to start testing, but i don't know what to download and how to set it up.
It could maybe be my problem because i'm not of english language, but all i want to do is try the strategy and get some pips like you all did
Salc.
I am not often blunt but this is for your own good.
Here in Australia if you don't pay the dues you don't get the prawn.
Start again at post one until you get to here. If you cannot work out what you need by the time you get to this post, you are not ready to trade this strategy.
All the attachments are available throughout the thread and do not need to be reposted. There are at least 7 references to and similar to w2000.
Short for Williams Percent Range 2000 level.
This can be a very profitable strategy if played right and you need to get it very straight in your head first. This is not a simple newbie sucker 2xMA's crossed put the money in the bag (yeh right) strategy.
I don't mean to offend, but this game is tough and I really don't want to hear you have lost real money.
Cheers.
most people focus on the wrong thing -- indicator must FLIPPED
imagine that sponge bob cooked a piece of burger
top half of the un-flipped burger is uncooked
people are always wonder, WHEN WILL THE burger be flipped
or use hedge , SL strategy i.e. horizontal cut the top half of the raw burger away (this is SL analog)
----
we all know RSI show us the momentum, so the core of the question -- the moment -- the price level <<== i.e. I just echo what just been said as above -- one arrow for up -- then long
one arrow for down then short -- and swallow the SL, mate
Profit is easy, ONCE you found the INDICATOR and do it right
all MEDIC in the world are given MCQ test
answer could be T or F or leave it blank
every wrong answer, 1 mark will be deducted
in forex, everytime you try to answer a MCQ question 0.05 points will be deducted, most people know that but intentionally TRIVIAL it
==
then the ultimate Q -- are you smart enough to be a top medic -- you WIN !
even you just know to do 1 particular operation and take the gold nugget out
hope someone could do better than mine
this week trading
SL / TP better increase by 50%
higher high / lower low strategy would be dominated -- indicator could be found with search in this TSD forum
I kinda of decode the game, but it is for 1/2 wk traders -- bad for speculative day traders -- esp it they buy /sell/ cover, so the broker won't have to compensate FOR their net position for each currency
Cheers T
Hi Cyclesurfer,
Unfortunately I couldn't send you a pm as my tsd inbox has been filled with imaginary mails and is apparently full, may have something to do with me canceling my "elite" subscription!
Anyways, on my last post on tsd, I just wanted to say to thank you for providing this thread which made me focus more on the actual indicators on MT4 platform rather than looking for things with fancy titles. Needless to say I have graduated with flying colours after 6-7 months of turmoil, but I do not think it would've been possible without this thread.
My advice to everyone who is going through what i've been through:
1. Why use a system which you cannot trade from a 1MIN chart??? thats where the action is, anything else is gambling, especially if you have to use a SL of > 12-15 pips tops.
2. If a system looks complicated its probably rubbish
3. Everything you need, apart from pivots, is already on MT4, just think about what they actually do and whats on the chart, engage your brain, do not listen to hype and complicated bs.
4. If I can do it, you can do it too
5. Do not waste time looking for magical indicators, again they already exist in MT4, so engage your brain;
6. A simple hint for you now: try to figure out how you can use a couple of MT4 indicators if eg EURUSD will break a R pivot; now do the same for support pivots; thats how I started. Once you do this, you own the house, and you will take their money.
7. Remember, it is not the mountains you climb that will grind you down, it is the pebbles in your shoes, and there are a lot of those in forex market, and they come in the shape of failed traders selling bs and those that use 50-300 pips SL!
so Good luck
Hey guys,
So sorry for my AWOL ness...
It all started a few weeks ago when this site started getting bloked by Google for having malware. I stayed away for a few days. It was a mistake on Goole's part. Anyway after that I got called away on something totally unavoidable. Over the next few days I will read up on what I've missed and start calling live trades again.
Brookey, I will clean up the first post, lol. It looks horrible and very confusing.
In other news...I'm currently searching for a good free chat software so that we can create a W2000 room where we can all look for trades and advise one another in real time. Skype would have been a good option but they no longer have Skypecast. Does anyone know if Pal Talk is still free?
The room will have a password so if you want access you'll have to let me know. If you have contributed significantly to the thread I will PM you the password. Otherwise, ask. I won't likely be turning anyone down but I would ask that we not give the password out willynilly. You know how quickly focus can degrade if we have a bunch of people in there talking about wieners and other body parts.
hi,
I followed this thread from the beginning and tell the truth, I'm lost in the many changes and improvements to the initial system. Can I get a summary of the last strategy to be used, indicators and how to use them?
Of course, I would be perfect to have an essential system, with minimum indicators and clear signals. Filling the video of indicators, often for us less experienced, is just one more difficulty. The ideal would be to have a visual indicator with its lines but also with clear signals as arrows, alerts and sounds.
Sometimes, the point of view of an inexperienced, could also help the professional.
thanks.A clean up is in order, especially to the first post. Thanks for pointing it out. As for video instruction that IS something that I could do quite easily if there is enough interest. So if that's something you want me to do speak up.
Brookey is probably correct in saying that eventually there will be a simple, newbie friendly version of the system but for the time being this system's users will have to be fairly decent at managing the trade after entry. I could cover the basics in a video if it would help anyone out.
I havn't done ANY testing with a set take profit and stop loss so I can't speak as to whether it could be profitable or not. If it could then I imagine that an EA would be pretty easy to program for those of you who use them.
Making a video is the least I could do to contribute since Brookey is coming out with all these great indicators. (TY btw)