kraven

why the need to P.M. you? Why the secret? if your not selling it then just post it with the settings for people to try. If you are selling it, as previously said, this isn't the place....try E-bay

Watched a new currency show on CNBC last night called 'money in motion'. I have to say i was very impressed. no fluff, just straight into top traders future positions and why. It's on every friday at 10:30 gmt.
 
their suggestions this week:
SELL E/U at 1.3945...sl .4040.........tp .3400
 
TA and fundementals: A breakout and a retrace has occurred on E/Nzd weekly/daily.....interest rates just cut due to earth quake.....BUY now around 1.8600
 
U/J one said buy at 81...sl 78...tp 88....................another TA analyses said SELL at 81.50 (breakout).......sl 81.75......tp 79.75
 
 
A google search will let you the highlights of it

Watched a new currency show on CNBC last night called 'money in motion'. I have to say i was very impressed. no fluff, just straight into top traders future positions and why. It's on every friday at 10:30 gmt.
 
their suggestions this week:
SELL E/U at 1.3945...sl .4040.........tp .3400
 
TA and fundementals: A breakout and a retrace has occurred on E/Nzd weekly/daily.....interest rates just cut due to earth quake.....BUY now around 1.8600
 
U/J one said buy at 81...sl 78...tp 88....................another TA analyses said SELL at 81.50 (breakout).......sl 81.75......tp 79.75
 
 
A google search will let you the highlights of it

Hello all, I’ve had several request asking how I generate my ‘Kravens Repetitive Areas of Potential Profit’ or K.R.A.P.P for short :))and as I’m a fan of the indo share culture I though I’d create this thread to demonstrate….
 
These lines are pretty accurate, I believe accurate enough to purely trade from. They will work on every pair and require updating once per day. However they not the ‘holy G’ and not magical (as some think lol). They are also very easy to create, in-fact they’ll be too easy for many on here who will insist on adding thing.
 
How to create ‘K.R.A.P.P.' wwwowhhhhhhhhaaahh!!
 
Ok, choose your pair……go to a daily time frame……….draw lines at each day on the high and low (and importantly) the open and close….. most people only take note of peaks (highs) and troughs (lows) but open and closes (O/C) are VERY IMPORTANT. Most just take note of the day before, however O/C of daily’s several weeks ago can still have an impact.
 
Once you have drawn your lines it’s time to sort them out. If a level has only been touched once I call this minor, if it has been influential on a few occasion I call it major. I advise you to colour these lines different colours (see pic)
 
 
http://i988.photobucket.com/albums/af5/kraven69/linesofimportancedaily.gif
 
after you've sorted your lines use them on lower timeframes (5 and 15min are good)
 
http://i988.photobucket.com/albums/af5/kraven69/daily.gif
 
Here is an example of how to trade K.R.A.P.P...i call it the 'bounce'. just enter the trade the 'oppersite' direction to where the price approached i.e. if the price is coming down, buy when it hits....SL 10 TP 15 (or more)......here an example i made a few days back
 
 
http://i988.photobucket.com/albums/af5/kraven69/linesofimportance9.gif
 
that's it..........try to refrain from adding 1hr and 4hr lines as you'll have a mass of lines that are untradable...........hope you enjoy
 
*appologies if this is in the wrong forum.

Got lucky today. I woke up around 3:30AM EST to check on my trades and saw that the price was ranging even after two hours, so I exited the trade with 4 pips profit. Good thing, because it would've hit my SL.
 
Tweaked my settings again. After looking at my/Marc's results, I decided to get rid of the second break even and take 100% profit at 35 pips. This basically makes it work exactly like FMT, with the added bonus of a couple filters that keep me out of bad trades.
 
SL at -40 pips
BE1 at +20 pips, adds +0 pips
BE2 not in use
TP1 at +35 pips, takes 100% of position
TP2 not in use

Hi kraven,
have a look at this one

http://www.4shared.com/file/l4DzglYP/4_TF_MA.html
if you are using chart shift you can see the timeframes that are displayed (white colored text)

Maybe this indi is what you are looking for...I've coded it the other day but never really used it
It's showing 2 things:
- FastMA above/below SlowMA on all TFs (blue/red dots...grey if mixed)
- Price above/below FastMA on all TFs (blue/red dots...grey if mixed)
You can select up to 9 timeframes (if you're on M1 chart) by setting the UseXX parameter
For TFs higher than M1 the selection of all lower timeframes is automatically internally disabled (regardless of the setting)

http://www.4shared.com/file/arFjq4E8/MA_AllTF.html

Look in my folder:
hxxp://www.4shared.com/account/dir/sUUpQZT6/sharing.html?rnd=68
ZeroLAG_MA (same with your description)
and ZeroLag_MACD_v1
 
Regards

That set me thinking: suppose we wanted a 3x5 cross on 5, 15 and 30. and use 3x5; 9x15; 18x30 wonder how that would look.
 
Know it is not what you want but I have a 3x5 Arrow ...
 
...just thinking...

I assure you I am fine guys, I just haven't been updating this thread that's all :) I much prefer myfxbook to mt4stats, and when I switched to the new VPS I just neglected to setup mt4stats as my publisher. I'll do that now if it makes you all happy :p
 
I've decided to disregard some of my backtest findings and increase my risk/trade back to the 33% that I was using with FMT. I've also changed my settings a bit:
 
SL 50
BE1 20, +0 pips
BE2 30, +15 pips
TP1 30, 50% of position
TP2 35, 50% of position
 
EDIT: Also thought I should mention that I've been very impressed with the results I'm getting with KangarooEA, so I decided to take it off this account and have it run on its own dedicated live account. This should make it easier to see exactly how TMT is doing in my portfolio.

Hello all, I’ve had several request asking how I generate my ‘Kravens Repetitive Areas of Potential Profit’ or K.R.A.P.P for short :))and as I’m a fan of the indo share culture I though I’d create this thread to demonstrate….
 
These lines are pretty accurate, I believe accurate enough to purely trade from. They will work on every pair and require updating once per day. However they not the ‘holy G’ and not magical (as some think lol). They are also very easy to create, in-fact they’ll be too easy for many on here who will insist on adding thing.
 
How to create ‘K.R.A.P.P.' wwwowhhhhhhhhaaahh!!
 
Ok, choose your pair……go to a daily time frame……….draw lines at each day on the high and low (and importantly) the open and close….. most people only take note of peaks (highs) and troughs (lows) but open and closes (O/C) are VERY IMPORTANT. Most just take note of the day before, however O/C of daily’s several weeks ago can still have an impact.
 
Once you have drawn your lines it’s time to sort them out. If a level has only been touched once I call this minor, if it has been influential on a few occasion I call it major. I advise you to colour these lines different colours (see pic)
 
 
http://i988.photobucket.com/albums/af5/kraven69/linesofimportancedaily.gif
 
after you've sorted your lines use them on lower timeframes (5 and 15min are good)
 
http://i988.photobucket.com/albums/af5/kraven69/daily.gif
 
Here is an example of how to trade K.R.A.P.P...i call it the 'bounce'. just enter the trade the 'oppersite' direction to where the price approached i.e. if the price is coming down, buy when it hits....SL 10 TP 15 (or more)......here an example i made a few days back
 
 
http://i988.photobucket.com/albums/af5/kraven69/linesofimportance9.gif
 
that's it..........try to refrain from adding 1hr and 4hr lines as you'll have a mass of lines that are untradable...........hope you enjoy
 
*appologies if this is in the wrong forum.

Hello all......after reading this post i did a bit of digging, appears this guy goes by a few names, one being fxdanny or dannyfx. Anyhow i found his blog and it appears he was a news trader for many years, then he suddenly liked the '5EMA system' (Aug 08), then started with these 'power levels'(may 09). Blog hasn't been updated since July 09 but from what i gather he just looks at the previous week and marks the S/R lines from that week and carry's them into the week ahead. Maybe you could try a zigzag indi and put a line at peaks etc...and see if the price rebound etc off these the following week
 
http://freeforextrades.blogspot.com/2009_06_01_archive.html

Stumbled across this blog today.....it appears this guy has been testing COT indicators and i know from a few threads some people are interested in trying to trade COT reports/data so this may help......now i don't know anything about it (so don't ask) but downloads appear to be free and no need to join anything.....good luck and keep us informed on how it goes/if they load/work etc..
 
hxxp://www.informedtrades.com/blogs/magic/2976-cot-report-indicators-updator.html

Hello all......after reading this post i did a bit of digging, appears this guy goes by a few names, one being fxdanny or dannyfx. Anyhow i found his blog and it appears he was a news trader for many years, then he suddenly liked the '5EMA system' (Aug 08), then started with these 'power levels'(may 09). Blog hasn't been updated since July 09 but from what i gather he just looks at the previous week and marks the S/R lines from that week and carry's them into the week ahead. Maybe you could try a zigzag indi and put a line at peaks etc...and see if the price rebound etc off these the following week
 
http://freeforextrades.blogspot.com/2009_06_01_archive.html

Hi kraven
 
Change this line in the start function
int l_ind_counted_0 = IndicatorCounted();
 
to this
int l_ind_counted_0;
 
should do the trick

I've gotten a request to share the modifications I've made to this EA. My modifications have been made to TMT, but some of them should work for FMT as well. I won't put the whole EA here, but I'm sure you can find it around these forums somewhere. You'll have to decompile it using ex4 to mq4 (search for it on Google or these forums) before you can make any changes.
 
Allow smallest increments in lot step while using MM
Replace the "getLots()" function with this:

double getLots() { if (UseMoneyManagement == FALSE) { //if (Lots > MaximumLots) return (MaximumLots); return (Lots); } if (RiskInPercent < 0) { Log("Incorrect RiskInPercent size, it must be above 0"); return (0); } double risk_in_currency = AccountBalance() * (RiskInPercent / 100.0); if (StopLossPips <= 0) { Log("Incorrect StopLossPips size, it must be above 0"); return (0); } double calculated_lots = risk_in_currency / (10.0 * StopLossPips); double final_lots = calculated_lots - MathMod(calculated_lots, MarketInfo(Symbol(), MODE_LOTSTEP)); if (MarketInfo(Symbol(), MODE_LOTSIZE) == 10000.0) final_lots = 10.0 * final_lots; final_lots = NormalizeDouble(final_lots, LotsDecimals); double min_lot = MarketInfo(Symbol(), MODE_MINLOT); //double l_maxlot_24 = MarketInfo(Symbol(), MODE_MAXLOT); if (final_lots < min_lot) final_lots = min_lot; //if (final_lots > l_maxlot_24) final_lots = l_maxlot_24; //if (final_lots > MaximumLots) final_lots = MaximumLots; return (NormalizeDouble(final_lots, LotsDecimals)); }
 
Allow true MM when hitting the maximum lots cap
This will open up multiple positions when using MM and the max lots/position cap has been hit, allowing for true MM. Replace the "openTrade()" function with this:

bool openTrade(int ai_0) { double l_price_4; int l_cmd_12; int l_error_52; double ld_60; string ls_68; if (MathAbs(ai_0) == 0.0) return (FALSE); writeExitStrategies(); RefreshRates(); int li_16 = 0; if (EntryType == 1) { Log("Entering at MARKET"); if (ai_0 > 0) { l_price_4 = Ask; l_cmd_12 = 0; } else { l_price_4 = Bid; l_cmd_12 = 1; } } else { li_16 = Time[0] + 60 * (60 * LimitOrderExpirationHours) - 100; Log("Entering at LIMIT, offset: ", EntryPipsOffset); if (EntryPipsOffset > 0) { if (ai_0 > 0) { l_price_4 = Ask + EntryPipsOffset * gd_404; l_cmd_12 = 4; } else { l_price_4 = Bid - EntryPipsOffset * gd_404; l_cmd_12 = 5; } } else { if (ai_0 > 0) { l_price_4 = Ask + EntryPipsOffset * gd_404; Log("Ask : ", Ask, ", Buy limit ", l_price_4); l_cmd_12 = 2; } else { l_price_4 = Bid - EntryPipsOffset * gd_404; l_cmd_12 = 3; } } } gi_unused_484 = 0; gs_488 = ""; l_price_4 = NormalizeDouble(l_price_4, Digits); gd_464 = l_price_4; if (UseStealthMode == FALSE) StealthModePips = 0; double l_price_20 = l_price_4 - (StopLossPips + StealthModePips) * gd_404 * ai_0; double l_price_28 = 0; if (FirstTargetClosingPercent == 100 && FirstProfitTargetPips > 0) l_price_28 = l_price_4 + (FirstProfitTargetPips + StealthModePips) * gd_404 * ai_0; double total_lots = getLots(); double ld_44 = 0; if (RiskInPercent > 0) ld_44 = AccountBalance() * (RiskInPercent / 100.0); Log("Account balance: ", DoubleToStr(AccountBalance(), 2), ", risk in currency per trade: ", DoubleToStr(ld_44, 4)); Log("Lots computed: ", total_lots); Log("Sending order, price: ", l_price_4, ", SL: ", l_price_20, ", PT: ", l_price_28, ", Lots: ", total_lots, ", Magic: ", MagicNumber, ", Comment: ", CustomComment); Log("Expiration: ", li_16, " = ", TimeToStr(li_16)); double max_lots = MarketInfo(Symbol(), MODE_MAXLOT); int number_of_positions = MathCeil(total_lots / max_lots); double remaining_lots = total_lots; for (int i=0; i<number_of_positions; i++) { double lots = remaining_lots; if (lots > max_lots) { lots = max_lots; remaining_lots -= max_lots; } int ticket_number = OrderSend(Symbol(), l_cmd_12, lots, l_price_4, 3, 0, 0, CustomComment, MagicNumber, li_16, Green); gi_504 = 0; if (ticket_number < 0) { l_error_52 = GetLastError(); Log("Error opening order: ", l_error_52, " : ", ErrorDescription(l_error_52)); if (l_error_52 != 138/* REQUOTE */ && l_error_52 != 131/* INVALID_TRADE_VOLUME */) { addLastMsg("Error:" + l_error_52 + "," + ErrorDescription(l_error_52)); return (FALSE); } if (l_error_52 == 131/* INVALID_TRADE_VOLUME */ && LotsDecimals > 0) { ld_60 = NormalizeDouble(lots, LotsDecimals - 1); if (ld_60 >= 0.01) lots = ld_60; } else addLastMsg("requote1"); RefreshRates(); if (ai_0 > 0) l_price_4 = Ask; else l_price_4 = Bid; l_price_4 = NormalizeDouble(l_price_4, Digits); l_price_20 = l_price_4 - gd_428 * ai_0; if (FirstTargetClosingPercent == 100 && FirstProfitTargetPips > 0) l_price_28 = l_price_4 + gd_436 * ai_0; Log("Requoted, Sending order again, price: ", l_price_4, ", SL: ", l_price_20, ", PT: ", l_price_28, ", Lots: ", lots, ", Magic: ", MagicNumber, ", Comment: ", CustomComment); ticket_number = OrderSend(Symbol(), l_cmd_12, lots, l_price_4, 3, 0, 0, CustomComment, MagicNumber, li_16, Green); } if (ticket_number < 0) { l_error_52 = GetLastError(); Log("Error opening order: ", l_error_52, " : ", ErrorDescription(l_error_52)); if (l_error_52 != 138/* REQUOTE */ && l_error_52 != 131/* INVALID_TRADE_VOLUME */) { addLastMsg("Error:" + l_error_52 + "," + ErrorDescription(l_error_52)); return (FALSE); } if (l_error_52 == 131/* INVALID_TRADE_VOLUME */ && LotsDecimals > 0) { ld_60 = NormalizeDouble(lots, LotsDecimals - 1); if (ld_60 >= 0.01) lots = ld_60; } else addLastMsg("requote2"); RefreshRates(); if (ai_0 > 0) l_price_4 = Ask; else l_price_4 = Bid; l_price_4 = NormalizeDouble(l_price_4, Digits); l_price_20 = l_price_4 - gd_428 * ai_0; if (FirstTargetClosingPercent == 100 && FirstProfitTargetPips > 0) l_price_28 = l_price_4 + gd_436 * ai_0; Log("Requoted, Sending order again, price: ", l_price_4, ", SL: ", l_price_20, ", PT: ", l_price_28, ", Lots: ", lots, ", Magic: ", MagicNumber, ", Comment: ", CustomComment); ticket_number = OrderSend(Symbol(), l_cmd_12, lots, l_price_4, 3, 0, 0, CustomComment, MagicNumber, li_16, Green); } if (ticket_number <= 0) { l_error_52 = GetLastError(); addLastMsg("Error:" + l_error_52 + "," + ErrorDescription(l_error_52)); Log("Error opening order: ", l_error_52, " : ", ErrorDescription(l_error_52)); return (FALSE); } if (OrderSelect(ticket_number, SELECT_BY_TICKET, MODE_TRADES)) { Log("Order opened : ", OrderTicket(), ", price :", OrderOpenPrice()); addLastMsg("Order opened"); } if (SendEmailAfterSignal) { if (ai_0 > 0) ls_68 = "LONG "; else ls_68 = "SHORT "; SendMail("TurboMorningTrade EA Signal " + TimeToStr(Time[0], TIME_DATE), ls_68 + "Trade opened at price : " + DoubleToStr(gd_464, Digits)); } if (OrderModify(ticket_number, OrderOpenPrice(), l_price_20, l_price_28, li_16, Black)) Log("Order modified : ", OrderTicket(), ", sl:", OrderStopLoss()); else { if (OrderModify(ticket_number, OrderOpenPrice(), l_price_20, l_price_28, li_16, Black)) Log("Order modified : ", OrderTicket(), ", sl:", OrderStopLoss()); else { Sleep(500); if (OrderModify(ticket_number, OrderOpenPrice(), l_price_20, l_price_28, li_16, Black)) Log("Order modified : ", OrderTicket(), ", sl:", OrderStopLoss()); else { Sleep(2500); if (OrderModify(ticket_number, OrderOpenPrice(), l_price_20, l_price_28, li_16, Black)) Log("Order modified : ", OrderTicket(), ", sl:", OrderStopLoss()); else { l_error_52 = GetLastError(); Log("CANNOT MODIFY ORDER: ", OrderTicket(), ", CLOSING, Error opening order : ", l_error_52, " : ", ErrorDescription(l_error_52)); addLastMsg("Cannot add PT/SL,cancelling order!"); if (OrderClose(ticket_number, lots, l_price_4, 6) != 1) { l_error_52 = GetLastError(); Log("CANNOT CLOSE ORDER: ", OrderTicket(), ", Error opening order : ", l_error_52, " : ", ErrorDescription(l_error_52)); addLastMsg("Cannot cancel order!"); return (FALSE); } addLastMsg("Cancelled OK"); return (FALSE); } } } } } addLastMsg("SL/PT set. All OK"); return (TRUE); }
 
I would use these changes with a demo account first because I only just began forward testing. I've only tested these with my broker, TadawulFX, and my MQL programming experience is very limited. Use with caution.

ahhh i see Freddie....he wanted it on 4shared....Diesel 10 posted it
 
hxxp://www.mediafire.com/?1fow5sk6p8kbgkp
 
just downloaded it.....loads of ads pop up but if you keep back tracking you can download it.......if i have time i'll 4share it later

lol.........and did you post that to increase yours?...........and me mine.......etc.......etc.

okay lads and lasses, after reading this thread i did a bit of digging (the things i do for you's lot)...
 
THERE ARE ONLY 7 RULES TO FOREX RENEWAL
 
#1 Draw a horizontal line on the open and close of the control candle.
#2 Draw an Eagle line for your session for confirmation.
#3 Wait for a signal candle - one that opens and closes above or below (with nothing touching) the Horizontal line.
#4 On the next candle, enter in the direction of the signal candle after 2 or 3 pips, set TP at 20, SL at 20 pips below the horizontal line.
#5 Don't trade between the 21ema and 60sma unless you see 20 pips available
#6 Don't enter a trade on the 60sma, wait for the price to break above or below
#7 Look at higher TF to see where you’re going.
 
TERMINOLOGY
 
1) control candle (the one with the high / low lines marked)
2) signal candle (the one that opens and closes without touching)
3) entry candle (the candle that passes high or low of signal candle by 2-3 pips, we enter the trade)
 
how do i know this....well i got into the FX Renew@l forum
 
hxxp://finance.groups.yahoo.c0m/group/RenewalSystem/message/319
 
319 messages (u can flick through them all)
 
here's some pics........ hxxp://www.screencast.c0m/users/GiveMeFatPips/folders/Forex%20Renewal%20Trades/media/f8400ba5-589a-4fdd-85c7-18a8b46ebb82
 
......:-bd

OK before the forum was made private, i copied a lot of random posts down....i'm posting them here so other indo memebers can look and see what they can come up with......control candles are 7:45 GMT this i know....apply below to my post with the 7 rules....
 
POSTED 13TH JAN:
 
If your trading the New York session, where is the end of that session? The answer is at 14:15 EST. If you use the MACD you can change your settings to 6, 13, 9 and go to a 5 minute TF and see that as we get close to 14:15 the price action begins to change. See todays U/Cad, G/U. We really can't trade this because of lack of volitility but it's good to know just in case momentum picks up. The control candle is 14:15 and the Eagle line would be from 08:15 through 14:15. I'm never 100% sure of this trade but it's always in the back of my mind for the Asian session.
 
You can see I drew the lines on the open and close of the "control candle"
 
Price first went below the lines, but there was no candles that did not touch
the lines, then price formed a signal candle (open and closed above the lines
and without touching) and then price moved at least 30 pips
 
So my question is, does the fact that price first started moving below the lines
disqualify a long trade?
 
Of course now that I have written this I see that if I had drawn an eagle line
then only long trades would be viable
 
 
The rest of my pairs have alot of 30+ pip candles.
I bagged 231 pips in 2 days trading over 3 sessions.
I'm taking my toys and going home.
Greed is an ugly thing!
 
Well that 44 pip bar before your "signal" candle should have told you that something is going on.
If you check Forex factory news you will see there was "reg flag" news at that time (specifically TIC long term purchases....what ever the heck that is)
So during periods of news you will need to have a bigger stop loss, in this case your stop loss was too tight
 
Barry will not take every single trade he will shop for the best looking trade and take those ONLY....ones where he feels he is 100% sure that the trade will move in his favor.
That 44 pip bar would scare me from taking that trade.
 
By the way on my chart the 44 pip bar was the signal candle (which would disqualify it), although if you took a trade off the high of that you would have profit, or if your stop loss was not so tight you woudl be in profit.
 
I know hind site makes us all brilliant but if you lose on a trade, don't let the loss not give you the lesson.
 
As I see it, the 9:15(EST) 15min candle is the setup candle - ie it is the first
candle to open and close without touching the horizontal lines from the 08:15
candle and the Eagle line and is not restricted by the 60 & 21 EMA. owever it
sets up after that large 09:00 candle caused by the TIC report news and
prevailing wisdom suggests you should avoid trading into that kind of
volatility.
 
It looks like you should not have been stopped if you placed your SL 20
pips below the low setup candle line.
 
Your SL should have been about 0.9842 right?
 
It looks like the lowest price made toady in NY session was 0.98665
right?
 
And also that 30+ pip candle was printed on the chart just prior to the
trigger candle on my chart. I will post a chart in my folder on the
files page
 
 
 
POSTS 19TH JAN
sure but EU and AU should be valid, no doji, no 60MA and no lines touching on the signal candle
 
>
> The GU control candle was a doji, not supposed to trade dojis
>
 
> >
> > All these pairs has clear signals down and but once i enter it went the other way....any thoughts?
 
To me it looks valid entry because signal candle broke ema21, sma60, horizontal line and order is placed 2-3 pips below(as it is sell order) in the direction of signal candle
 
OK, the G/U does have a doji on the 18:30 candle, which means three things: There is indecision in the market, there may be a reversal, and I can't be 100% certain that this trade is good for 20 pips. But, you should have been long from 18:00 on. Why, because of the one pip candle rule. "If you have a one pip candle that is preceeded by a candle at least 4 pips, enter your trade in the direction of the one pips candle." Since the 18:00 candle was bullish, we enter long. This is an interesting strategy that is accurate about 80% of the time. I only take about 10 to 12 pips on this kind of trade but it can go for a lot more. Tonight I'm tired and got out with 12. But the FR was cancelled on the doji.
 
Secondly, the Asian session is only traded on the GBP/USD. Because it works there. Where as, I doesn't profit consistantly on other pairs. You might get lucky but with the A/U, E/U or others but for the Asian your bread and butter is with the G/U.
The Japan open at 18:00 is usually very lame. There isn’t, on most days, a lot of volatility. However if the price action of the US market has been good with 100 pip swings there is a good probability that the Asian session will provide numerous opportunities for trading.
 
 
 
 
GU trade invalid - doji
AU trade invalid - price did not break below signal candle
EU trade - yes, price did go 3 pips below the signal candle and reversed.
 
So the question is how to avoid this, what is the lesson learned.
I could give some arm chair quarter back thoughts but it is easy to be a great trader in hindsite.
 
Barry's number 7 rule seems to be the one to consider
 
Thanks, Rule 7 helps... at H4 its uptrend?
 
 
I don’t know if some folks have/paid for the Asian session document from Barry. It says, specifically, trade only the GBP/USD if conditions are met. The lesson, perhaps, is trade only the GU.
 
I made 20 pips tonight on that GU trade, though my pending order (just above the 60SMA) got executed on a candle while price was still banging up against that SMA. On reflection, I was fortunate - not the best entry placement. Lesson learned.
 
 
________________________________________
From Barry
Was it possible to know that the G/U price was going to go up this far today and what did we need to look at to expect this rise? There is a key to forex trading that every trader should have. And that is the knowledge that every candle will be retraced by at least 50%. So, we look at out G/U chart and wonder if there is a candle in the past that needs to be retraced. First we look on our 15 min and don't see one. Then we look on a 60 min and don't see one. Then on a 4hr and don't see one. Then we look on the daily and see that there is a candle on 12/15 that needs to be retraced. So we can expect the price to go to at least 50%. But it can go higher to 100% and it did. But what about the candle on 12/14, it hasn't been retraced by at least 50%. Can we expect the price to go there? Sure we can. But when? That's the problem, we know it will but it could take another day or maybe a week. Then again, it could only take tomorrow mornings London session. I don't know. All I know is that it is going there. Am I going to go long and set a TP up there? No Way! From now until that candle retraces we will have multiple opportunities to picp up pips without getting into a trade that could (and probably) will go against us and hit our stop. But if the London session should give us a buy signal that is where I would expect the price to go.
Barry
 
 
as i said, random posts, some follow on from one another some don't.......let's see if we can crack it

okay lads and lasses, after reading this thread i did a bit of digging (the things i do for you's lot)...
 
THERE ARE ONLY 7 RULES TO FOREX RENEWAL
 
#1 Draw a horizontal line on the open and close of the control candle.
#2 Draw an Eagle line for your session for confirmation.
#3 Wait for a signal candle - one that opens and closes above or below (with nothing touching) the Horizontal line.
#4 On the next candle, enter in the direction of the signal candle after 2 or 3 pips, set TP at 20, SL at 20 pips below the horizontal line.
#5 Don't trade between the 21ema and 60sma unless you see 20 pips available
#6 Don't enter a trade on the 60sma, wait for the price to break above or below
#7 Look at higher TF to see where you’re going.
 
TERMINOLOGY
 
1) control candle (the one with the high / low lines marked)
2) signal candle (the one that opens and closes without touching)
3) entry candle (the candle that passes high or low of signal candle by 2-3 pips, we enter the trade)
 
how do i know this....well i got into the FX Renew@l forum
 
hxxp://finance.groups.yahoo.c0m/group/RenewalSystem/message/319
 
319 messages (u can flick through them all)
 
here's some pics........ hxxp://www.screencast.c0m/users/GiveMeFatPips/folders/Forex%20Renewal%20Trades/media/f8400ba5-589a-4fdd-85c7-18a8b46ebb82
 
......:-bd

OK before the forum was made private, i copied a lot of random posts down....i'm posting them here so other indo memebers can look and see what they can come up with......control candles are 7:45 GMT this i know....apply below to my post with the 7 rules....
 
POSTED 13TH JAN:
 
If your trading the New York session, where is the end of that session? The answer is at 14:15 EST. If you use the MACD you can change your settings to 6, 13, 9 and go to a 5 minute TF and see that as we get close to 14:15 the price action begins to change. See todays U/Cad, G/U. We really can't trade this because of lack of volitility but it's good to know just in case momentum picks up. The control candle is 14:15 and the Eagle line would be from 08:15 through 14:15. I'm never 100% sure of this trade but it's always in the back of my mind for the Asian session.
 
You can see I drew the lines on the open and close of the "control candle"
 
Price first went below the lines, but there was no candles that did not touch
the lines, then price formed a signal candle (open and closed above the lines
and without touching) and then price moved at least 30 pips
 
So my question is, does the fact that price first started moving below the lines
disqualify a long trade?
 
Of course now that I have written this I see that if I had drawn an eagle line
then only long trades would be viable
 
 
The rest of my pairs have alot of 30+ pip candles.
I bagged 231 pips in 2 days trading over 3 sessions.
I'm taking my toys and going home.
Greed is an ugly thing!
 
Well that 44 pip bar before your "signal" candle should have told you that something is going on.
If you check Forex factory news you will see there was "reg flag" news at that time (specifically TIC long term purchases....what ever the heck that is)
So during periods of news you will need to have a bigger stop loss, in this case your stop loss was too tight
 
Barry will not take every single trade he will shop for the best looking trade and take those ONLY....ones where he feels he is 100% sure that the trade will move in his favor.
That 44 pip bar would scare me from taking that trade.
 
By the way on my chart the 44 pip bar was the signal candle (which would disqualify it), although if you took a trade off the high of that you would have profit, or if your stop loss was not so tight you woudl be in profit.
 
I know hind site makes us all brilliant but if you lose on a trade, don't let the loss not give you the lesson.
 
As I see it, the 9:15(EST) 15min candle is the setup candle - ie it is the first
candle to open and close without touching the horizontal lines from the 08:15
candle and the Eagle line and is not restricted by the 60 & 21 EMA. owever it
sets up after that large 09:00 candle caused by the TIC report news and
prevailing wisdom suggests you should avoid trading into that kind of
volatility.
 
It looks like you should not have been stopped if you placed your SL 20
pips below the low setup candle line.
 
Your SL should have been about 0.9842 right?
 
It looks like the lowest price made toady in NY session was 0.98665
right?
 
And also that 30+ pip candle was printed on the chart just prior to the
trigger candle on my chart. I will post a chart in my folder on the
files page
 
 
 
POSTS 19TH JAN
sure but EU and AU should be valid, no doji, no 60MA and no lines touching on the signal candle
 
>
> The GU control candle was a doji, not supposed to trade dojis
>
 
> >
> > All these pairs has clear signals down and but once i enter it went the other way....any thoughts?
 
To me it looks valid entry because signal candle broke ema21, sma60, horizontal line and order is placed 2-3 pips below(as it is sell order) in the direction of signal candle
 
OK, the G/U does have a doji on the 18:30 candle, which means three things: There is indecision in the market, there may be a reversal, and I can't be 100% certain that this trade is good for 20 pips. But, you should have been long from 18:00 on. Why, because of the one pip candle rule. "If you have a one pip candle that is preceeded by a candle at least 4 pips, enter your trade in the direction of the one pips candle." Since the 18:00 candle was bullish, we enter long. This is an interesting strategy that is accurate about 80% of the time. I only take about 10 to 12 pips on this kind of trade but it can go for a lot more. Tonight I'm tired and got out with 12. But the FR was cancelled on the doji.
 
Secondly, the Asian session is only traded on the GBP/USD. Because it works there. Where as, I doesn't profit consistantly on other pairs. You might get lucky but with the A/U, E/U or others but for the Asian your bread and butter is with the G/U.
The Japan open at 18:00 is usually very lame. There isn’t, on most days, a lot of volatility. However if the price action of the US market has been good with 100 pip swings there is a good probability that the Asian session will provide numerous opportunities for trading.
 
 
 
 
GU trade invalid - doji
AU trade invalid - price did not break below signal candle
EU trade - yes, price did go 3 pips below the signal candle and reversed.
 
So the question is how to avoid this, what is the lesson learned.
I could give some arm chair quarter back thoughts but it is easy to be a great trader in hindsite.
 
Barry's number 7 rule seems to be the one to consider
 
Thanks, Rule 7 helps... at H4 its uptrend?
 
 
I don’t know if some folks have/paid for the Asian session document from Barry. It says, specifically, trade only the GBP/USD if conditions are met. The lesson, perhaps, is trade only the GU.
 
I made 20 pips tonight on that GU trade, though my pending order (just above the 60SMA) got executed on a candle while price was still banging up against that SMA. On reflection, I was fortunate - not the best entry placement. Lesson learned.
 
 
________________________________________
From Barry
Was it possible to know that the G/U price was going to go up this far today and what did we need to look at to expect this rise? There is a key to forex trading that every trader should have. And that is the knowledge that every candle will be retraced by at least 50%. So, we look at out G/U chart and wonder if there is a candle in the past that needs to be retraced. First we look on our 15 min and don't see one. Then we look on a 60 min and don't see one. Then on a 4hr and don't see one. Then we look on the daily and see that there is a candle on 12/15 that needs to be retraced. So we can expect the price to go to at least 50%. But it can go higher to 100% and it did. But what about the candle on 12/14, it hasn't been retraced by at least 50%. Can we expect the price to go there? Sure we can. But when? That's the problem, we know it will but it could take another day or maybe a week. Then again, it could only take tomorrow mornings London session. I don't know. All I know is that it is going there. Am I going to go long and set a TP up there? No Way! From now until that candle retraces we will have multiple opportunities to picp up pips without getting into a trade that could (and probably) will go against us and hit our stop. But if the London session should give us a buy signal that is where I would expect the price to go.
Barry
 
 
as i said, random posts, some follow on from one another some don't.......let's see if we can crack it

Here is NY Session. Enjoy!
 

http://www.mediafire.com/?1fow5sk6p8kbgkp

okay lads and lasses, after reading this thread i did a bit of digging (the things i do for you's lot)...
 
THERE ARE ONLY 7 RULES TO FOREX RENEWAL
 
#1 Draw a horizontal line on the open and close of the control candle.
#2 Draw an Eagle line for your session for confirmation.
#3 Wait for a signal candle - one that opens and closes above or below (with nothing touching) the Horizontal line.
#4 On the next candle, enter in the direction of the signal candle after 2 or 3 pips, set TP at 20, SL at 20 pips below the horizontal line.
#5 Don't trade between the 21ema and 60sma unless you see 20 pips available
#6 Don't enter a trade on the 60sma, wait for the price to break above or below
#7 Look at higher TF to see where you’re going.
 
TERMINOLOGY
 
1) control candle (the one with the high / low lines marked)
2) signal candle (the one that opens and closes without touching)
3) entry candle (the candle that passes high or low of signal candle by 2-3 pips, we enter the trade)
 
how do i know this....well i got into the FX Renew@l forum
 
hxxp://finance.groups.yahoo.c0m/group/RenewalSystem/message/319
 
319 messages (u can flick through them all)
 
here's some pics........ hxxp://www.screencast.c0m/users/GiveMeFatPips/folders/Forex%20Renewal%20Trades/media/f8400ba5-589a-4fdd-85c7-18a8b46ebb82
 
......:-bd

OK before the forum was made private, i copied a lot of random posts down....i'm posting them here so other indo memebers can look and see what they can come up with......control candles are 7:45 GMT this i know....apply below to my post with the 7 rules....
 
POSTED 13TH JAN:
 
If your trading the New York session, where is the end of that session? The answer is at 14:15 EST. If you use the MACD you can change your settings to 6, 13, 9 and go to a 5 minute TF and see that as we get close to 14:15 the price action begins to change. See todays U/Cad, G/U. We really can't trade this because of lack of volitility but it's good to know just in case momentum picks up. The control candle is 14:15 and the Eagle line would be from 08:15 through 14:15. I'm never 100% sure of this trade but it's always in the back of my mind for the Asian session.
 
You can see I drew the lines on the open and close of the "control candle"
 
Price first went below the lines, but there was no candles that did not touch
the lines, then price formed a signal candle (open and closed above the lines
and without touching) and then price moved at least 30 pips
 
So my question is, does the fact that price first started moving below the lines
disqualify a long trade?
 
Of course now that I have written this I see that if I had drawn an eagle line
then only long trades would be viable
 
 
The rest of my pairs have alot of 30+ pip candles.
I bagged 231 pips in 2 days trading over 3 sessions.
I'm taking my toys and going home.
Greed is an ugly thing!
 
Well that 44 pip bar before your "signal" candle should have told you that something is going on.
If you check Forex factory news you will see there was "reg flag" news at that time (specifically TIC long term purchases....what ever the heck that is)
So during periods of news you will need to have a bigger stop loss, in this case your stop loss was too tight
 
Barry will not take every single trade he will shop for the best looking trade and take those ONLY....ones where he feels he is 100% sure that the trade will move in his favor.
That 44 pip bar would scare me from taking that trade.
 
By the way on my chart the 44 pip bar was the signal candle (which would disqualify it), although if you took a trade off the high of that you would have profit, or if your stop loss was not so tight you woudl be in profit.
 
I know hind site makes us all brilliant but if you lose on a trade, don't let the loss not give you the lesson.
 
As I see it, the 9:15(EST) 15min candle is the setup candle - ie it is the first
candle to open and close without touching the horizontal lines from the 08:15
candle and the Eagle line and is not restricted by the 60 & 21 EMA. owever it
sets up after that large 09:00 candle caused by the TIC report news and
prevailing wisdom suggests you should avoid trading into that kind of
volatility.
 
It looks like you should not have been stopped if you placed your SL 20
pips below the low setup candle line.
 
Your SL should have been about 0.9842 right?
 
It looks like the lowest price made toady in NY session was 0.98665
right?
 
And also that 30+ pip candle was printed on the chart just prior to the
trigger candle on my chart. I will post a chart in my folder on the
files page
 
 
 
POSTS 19TH JAN
sure but EU and AU should be valid, no doji, no 60MA and no lines touching on the signal candle
 
>
> The GU control candle was a doji, not supposed to trade dojis
>
 
> >
> > All these pairs has clear signals down and but once i enter it went the other way....any thoughts?
 
To me it looks valid entry because signal candle broke ema21, sma60, horizontal line and order is placed 2-3 pips below(as it is sell order) in the direction of signal candle
 
OK, the G/U does have a doji on the 18:30 candle, which means three things: There is indecision in the market, there may be a reversal, and I can't be 100% certain that this trade is good for 20 pips. But, you should have been long from 18:00 on. Why, because of the one pip candle rule. "If you have a one pip candle that is preceeded by a candle at least 4 pips, enter your trade in the direction of the one pips candle." Since the 18:00 candle was bullish, we enter long. This is an interesting strategy that is accurate about 80% of the time. I only take about 10 to 12 pips on this kind of trade but it can go for a lot more. Tonight I'm tired and got out with 12. But the FR was cancelled on the doji.
 
Secondly, the Asian session is only traded on the GBP/USD. Because it works there. Where as, I doesn't profit consistantly on other pairs. You might get lucky but with the A/U, E/U or others but for the Asian your bread and butter is with the G/U.
The Japan open at 18:00 is usually very lame. There isn’t, on most days, a lot of volatility. However if the price action of the US market has been good with 100 pip swings there is a good probability that the Asian session will provide numerous opportunities for trading.
 
 
 
 
GU trade invalid - doji
AU trade invalid - price did not break below signal candle
EU trade - yes, price did go 3 pips below the signal candle and reversed.
 
So the question is how to avoid this, what is the lesson learned.
I could give some arm chair quarter back thoughts but it is easy to be a great trader in hindsite.
 
Barry's number 7 rule seems to be the one to consider
 
Thanks, Rule 7 helps... at H4 its uptrend?
 
 
I don’t know if some folks have/paid for the Asian session document from Barry. It says, specifically, trade only the GBP/USD if conditions are met. The lesson, perhaps, is trade only the GU.
 
I made 20 pips tonight on that GU trade, though my pending order (just above the 60SMA) got executed on a candle while price was still banging up against that SMA. On reflection, I was fortunate - not the best entry placement. Lesson learned.
 
 
________________________________________
From Barry
Was it possible to know that the G/U price was going to go up this far today and what did we need to look at to expect this rise? There is a key to forex trading that every trader should have. And that is the knowledge that every candle will be retraced by at least 50%. So, we look at out G/U chart and wonder if there is a candle in the past that needs to be retraced. First we look on our 15 min and don't see one. Then we look on a 60 min and don't see one. Then on a 4hr and don't see one. Then we look on the daily and see that there is a candle on 12/15 that needs to be retraced. So we can expect the price to go to at least 50%. But it can go higher to 100% and it did. But what about the candle on 12/14, it hasn't been retraced by at least 50%. Can we expect the price to go there? Sure we can. But when? That's the problem, we know it will but it could take another day or maybe a week. Then again, it could only take tomorrow mornings London session. I don't know. All I know is that it is going there. Am I going to go long and set a TP up there? No Way! From now until that candle retraces we will have multiple opportunities to picp up pips without getting into a trade that could (and probably) will go against us and hit our stop. But if the London session should give us a buy signal that is where I would expect the price to go.
Barry
 
 
as i said, random posts, some follow on from one another some don't.......let's see if we can crack it