Alongside harmonic pattern which are bearish on both 4hr/daily, I am using the SHI Channal that I think you posted on BP thread, on the 4hr timeframes again showing bearish direction inline with the daily.
How do I trade this, at the moment I wait for harmonic patterns and a signal on this channal on the 4hr timeframe in the direction as indicated, how do I get the best out of this channal.
Sorry 4got to attach charts.
I like thread so far-
Just curious, what is your "black box" signals?
I like your 4hr chart, looks nice
are those just zigzag arrows?
Can we learn all the rules about your strategy from your website?
Have a nice day everyone!
Yes, I use zigzag and semaphores, the red one far left is called supersignals from the first post over at the bouncing pip thread by bear, the green ones are silversignal from the thread by kamper which is where I got the channal also. The red arrow from the bouncing pip is a very good indicator I would also recommend you read that thread also.
Mp --- silvertrend, dots, channels and things that go bump in the night !
i know Kamper well, having posted over there quite a lot when i found his methodology. unfortunately, i know the good AND the bad of silversignals (which i believe i added to the mix back when)and the zig zags and the dots and so forth. although i like them in general, they unfortunately look better AFTER the fact than during actual trading as they do tend to repaint. This does not alter the fact that they certainly get you into the right ballpark and allow you to hit many a home run, although I want to know way in advance where to set my FINAL TP and the zig zags and silverlining require watching, or at least an alarm system so you know when to bail a position in profit --- a small difference, but knowing in advance allows me to enjoy caviar and champagne, while having to WATCH constantly is more like gulping down a coke and a big mac.
For me, and understand that I build a ladder of trades (as many as 100 open at a time) leading to a set TP point, and therefore knowing what those numbers are is far more impt than knowing what the final number is.
but aside from that, using the SHI channel puts you into one very good ballpark and while MORE profit might be made than simply playing the channels, NO ONE ever went wrong doing only that.
Mp -- black boxes and books
Concept made simple, they are just extensions from support and resistance --- if a support or resistance point is broken, the price HAS TO move to the next point and test --- almost as much a reality as breathing. Now, the software does MUCH more than that, of course and is completely impossible to describe (at least for this non-programming trader) but given the parameters of its codeing, it does one heck of a job looking forwards, often coming up with a few hundred pips in the future, which is invariably correct (even though i might not want to hold my breath as long as one might wait)
for that reason, I have to average out some of the h4 Black box forecasts with the short and long term TREND charts, simply because the black box is calling for a 500 pip move, which will happen and which will take more time than i wish normally. Unfortunately its NOT smart enough to figure how momentum affects the final price, often falling short of where the price actually ends up, which of course is not the worst thing in the world if youve just made 200 pips. If one is crying about not making the extra 25 pips, than we aint talking trading but rather greed !
Im just a guest at that site, but while it may well be confusing, and take a few years to digest in toto, most everything I know is over there. To give you an idea of how long things take, its now 4 years or so since i wrote that "book" and I'm just beginning to understand some of the higher concepts I posted, which of course is rather funny in its own way.
But yeah --- almost everything I know is over there.
ENJOY AND TRADE WELL
well, I already emailed you on this one when the site was down, but one thing "irks" me a tad and that is while the H4 can sometimes be considered a "simple" trade, the time taken and the amount of your equity tied up in margin during drawdowns would have me baying at the moon, dressed in a tuxedo and eating drakes cakes --- most unusual for me as I dont like drakes cakes !
A shorter timespan will cut down your exposure time, lesson the drain on margin, allow your nerves to settle down to where a cardiologist would not send you to the hospital because the H4 has now moved the opposite way for the 6th time in 2 days --- in actuality, you make more money faster simply because you can take two shorter term trades instead of one long termer that moves around like a classic drunk on his way home from the pub.
I have FAP turbo trading ROBOT & I will set the settings up to your trading signals (but with using a STOP LOSS)
I will post my results here (DEMO)
What size lot do you suggest with a 10,000 FAP TURBO demo account?
Mp to fingerpaint
GOT YOUR EMAIL ABOUT FAP TURBO but it hasnt appeared on the thread itself --- something wierd there ???
What I will ask is simple ---- will you be opening a real account with $10,000 USD ? if not, youre cheating yourself by using a demo with 10K, because FAP (or manual trading for that matter) will eat you alive with the increased margin especially if you do longer timeframe trades.
the biggest problem in forex is the easy availability of BIG equity amounts in the demo's --- that works completely to the brokers advantage and completely against you, in a BIG way.
for example, a few years back i demoed turning 500 USD into 10K USD in the space of one year, starting with 500 of course ---- today, based on the new regs, margin and the methods of trading now being used, i had to step up to 2000 USD to even keep my head above water --- if i had started with 10k, it prob would be 100k by now, but for a newb or for testing, it prob would have you broke.
One last thing, in the interest of not gagging a maggot, how about changing your alias to something we could present to the Queen, besides a crown jewel.
"Gulping down a coke and a big mac"...Lol..love your linguistic expression, brilliant prose, very engaging. I agree the 4hr can be as described and yes I have been on the wrong end many times while the 4hr does the dance especially on cable, when my torture first began it was who blinked first and I would cut my losses only to see it shoot back up, now I know not to do this because the higher timeframes are telling me....
I find lower timeframes even more scary than the 4hr, I start off with the daily then progress down within the shi channel, the harmonic patterns alert give me an instant overall picture on the weekly/daily/4hr, I then look to the shi channel, bears supersignal indy, zigandzag indy, semaphors, s/r, my first heads up is usually the harmonic patterns, I go to the 1m and time entry, other times, hell I know it's going down so I just jump in at the fibs.
For example today, eur/usd, harmonic patterns told me on the daily/4hr/1hr that she was bearish from friday, just not when!! I was short eur/usd from friday and she went many pips up/down. The shi channel and zigzag, semaphors gave me when.