forexonly

Hi

OV 8.24 is out there with TOS Data. Can anyone please share. It's a very good software.

Thanks

By ( my) rules, anyone that sells indicator is not a trader. It takes some much time, money and compliance to develop and maintain these indicators, so logic says why just not trade instead. And this " helping other traders" is just a crock!

Good trading,

Hi

Does anyone have this course to share, please?

http://[email protected]/online-cl@sses/le@rn-tr@de-e@rnings/

Thanks

Hi Laser,

Make life simpler and open a small account ( as low as $500 I think) with amp, they will charge you $5 per month ( for each exchange) and you will have good clean data with no issues. That's what I did. For traders live data is like electricity and you just pay for it and move on. I am sure there other brokers out there that will give you the same.

Yes and I do give my stop loss some wiggling room since the Target is very good, most of the time.

Yes, the dot scoring system doesn't seem to really make much sense to me either! A thing I was wondering about Gartley patterns is do you enter a trade *right* at point "D" (or when it starts to turn) ? And stop loss would be just below corresponding point "X"?

 

Cheers

Shawn

Hi

Happy Easter to you and yours as well. I do not use the scoring and could never figure how they do score it. So I take all the majors pairs ( low spread) and all the dots. My guess is that the dots are not much help. I also think that the key to making money in markets is that :

1. Markets move up and down ( on intermediate time frame-such as the hourly) and what goes up will drop down.

2. You must trade with 2 or 3/1 R/R ( actually try trading using a pure random up/down signal with good R/R and you will make money.)

If you see products such as MTP, which is a trully worthless product, but sells well and many have made money doing due to the high Risk/Reward in the signals. I cannot tell you about the issue with IB/MW since I used FXCM data, which gives me plenty of data. And I am really not a good person to advice with EW since I don't really use it much and think it is not effective.

Last but not least, I only started making good money when I moved away from the very short time frame, such as the 5M.

Good trading,

F

Yes. on daily time frame those Gartley patterns can be massive. Who can wait that long?? Do you put much weight in the "scoring" system that the scanner of Motivewave uses... ie. 1, 2, or 3 green dots. Do you tend to go for only the 3-green-dot recommendations, or it really doesn't make much difference?

 

I have run into another puzzling issue with MotiveWave also - when applying an Elliott Wave "Auto-analyze" to a chart of 5-minute bars that I have set to go back to Jan 15/2016, it will give the error message "Unable to auto-analyze. Not enough data is available". I assumed that my brokers datafeed (InteractiveBrokers) would not supply 5-min bars to go back that far, so I got my hands on an ascii file of 5-min bar history going from Jan 1/2016 to June 30/2016... plenty (I thought) to fill in the gap. I imported it in correctly (at least it seemed so) and ran the Auto-ANalyzer again but it gave the same message. Have you ever experienced any such problem with historical data?

 

Thank you so much for the assistance Forexonly, I appreciate it. A Happy easter to you and your family!

 

Cheers

Shawn

Nice to see your worthless posts again Kenny123, it has been a while...

Works fine, thanks. The signals are actually ok.

Hi

Adding the waves can and did eliminate many good set ups, so I just use the patterns, and specifically bats and sharks. Wave 3 is very inciting and I love to catch one, but does not happen much in real trading.The other patterns did not do as well ( for me). Other patterns also, did not go over 50% profit, but again with a good R/R you can still take them and do okay. After years of losing I learned to stick with what works and makes money and that's only Bats and sharks on the hourly. It may work well on daily, but the stop loss where too much for me to handle and I am like you, can wait days or maybe weeks, but not months.

Also, with a full time job, it's hard to handle lower time frame, but again may work for some.

I will try to set up a journal with few example, but no promises.

Good trading,

Thank you for the tips Forexonly! I did look a little at the scanner and Gartley patterns. I tried a scan on some daily data charts. The patterns produced however were quite long-term... it would take some months to play out. I think I agree with you that hourly time frame is more reasonable and useful. I trade stock options and I think this will be useful to me to find good setups and trades lasting a few weeks or so. Just right.

As I was testing this, it occured to me that a Gartley pattern is not much different than an Elliott Wave A-B-C structure. I think running an automatic elliott wave count on a chart that shows a good Gartley pattern, would be a very good confirmation tool, no? If the "D" point of the Gartley corresponded with the end of an elliot wave 2, I think that would be a very very good signal for catching the start of an impulsive wave 3. What do you think? Perhaps you are already doing this...

 

You mentioned too "Take completion of bats and sharks". What about the other types of Gartley patterns such as Butterfly, Crab, Deep Crab, Cypher, etc. Do you find that they don't work as well?

 

Thanks!

Shawn

Hi

I do use the scanner and it is very effective in finding set ups. I have tried many different time frames and I was only able to make money with:

1. 1 hour charts

2. Take completion of bats and sharks ( reversals, or finding tops or bottoms)

3. Forex only ( hence my handle)

4. you can try it with NT indicators as well, it's the set up that works, not the tool ( MW)

it's good for 70-80% prob., but with 2 or even 3 to 1 risk reward, it works; why? I have no idea!!

Good luck.

Guys, I have solved my problem! I dug around a little more in the MotiveWave docs and it is all explained here:

 

 

http://www.motivewave.com/support/how_to/elliott_wave_study.htm

 

 

So if you notice that your wave counts for different timeframes are "disagreeing", just look back in a daily or weekly history chart of your instrument (ie. SPY) and locate a very major high or low. Use that date (or better - a few days before) as your START DATE when doing an elliott wave "Auto Analyze". Make sure "Minimum Bars" and "Maximum bars" are greyed out and put a check mark next to "Use Date". I also like to select "Decompose All". This way seems to give good solid EW counts agreeing across all my timeframes. Unfortunately, InteractiveBrokers data will not retrieve 5 min bars all the way back to the major low of Jan 19/2016, so I had to use the "intermediate" major low on Nov 4/2016. It seems to be still okay. Thanks for the input everyone... I hope what I have described here helps someone who was in the same situation as I was!

 

Mr. Forexonly - you said "What did like on MW is the patterns ( bat, shark, etc..) on the hourly chart.". I have yet to explore this part of MW... I'm not really familiar with Gartley patterns but I will look into it. Have you tried scanning (and trading) for those patterns using Daily charts with success also... or only hourly charts? The built-in scanner of MW seems really useful for this. When a Gartley pattern is found, does it also give a price target that might be reached?

 

Thanks

Shawn

Basically it just repaints. I spent much time with EW and found be excellent, but on historical charts only!!!

What did like on MW is the patterns ( bat, shark, etc..) on the hourly chart.

Good trading

Thank you for the feedback guys. I do understand that EW is not an exact science, with more than one different outcome... but still it's unsettling when you have so many time frames disagreeing. I trade 5min and 10min charts so I was hoping that MotiveWave would provide some halfway-useful counts for those shorter time frames, I do agree that the longer-term count should take priority, but I would still love to see more consistency and agreement among the counts of different timeframes.

 

But doing some more digging in MotiveWave, I think I *may* have found what is contributing to this - scrolling back in the history of each timeframce chart, I see that the 30min and 1hr charts start their EW analysis/labeling on the major low of Nov 4/2016 (labelled as "0"). Whereas the 5min and 15min charts start their analysis on the high of March 15/2017. To me, this would cause a misleading short-term count, as the real recent major swing high/low was several days before that on March 1, no?! I'm no expert on Elliott Wave, but I have a feeling that's why the shorter timeframe counts are not in sync, in this particular case anyway.

 

Maybe there is some setting to "force" MotiveWave to start its analysis on a certain date?? Thoughts anyone?

 

Cheers

Shawn

Hi

I have looked for this as well in the past and could not find anything. I recommend you stay with Mt4 for now.

Anyone please managed to export data from MT5 to timingsolution ?

Elliot wave count is never accurate, with any software. It's always very good on historical charts, but not real time. But with MW I think it's very good with chart patterns scanning ( Shark, bat, etc..).

Hi, whats your favourite aspects of the software ? Is it the elliot wave count? How accurate is it ? Does it work on multiple timeframe ?

 

BR

 

M

Maybe it's high because it does really work, unlike most of the other junk out there.

If I had a working software ( a money machine), I would charge even more. BTW, I know nothing of this software.

only live, you cannot see any historical data with IB/NT. And it does not look the same as other feeds, so I would not recommend.

Thanks . I wonder if range bars would work ??? they are tick based .

Hi Magician,

Go back to post 36 and follow in detail and it will work. It took me a long time to make it work, but just keep trying and it will work.

Take care

Banner, there is a number 00669D7 that must be pasted in a small window. It is after 23 seconds in the video. A message in red "no memory on the specified address" came up in the video. The same happened to me and you can't get the number accepted in the box.

Unfortunately I am not allowed to use attachments in this forum. I don't see a facility to upload an image.

Hi Shenong

Thanks for all. 10 is an issue, but not the only issue. I have another with 7/64 and still its a no go. No worries, but if I did find a solution I will post. Instructions are a bit confusing and I cannot see the same results as in the video. Again thanks for your and candymans help.

Hi

For those that are able to make it work, which one are you installing; the original 2012 (with or without the upgrade installed) or 2016 with the ts key adv alone or with ts upgrade included. I did try different combinations and still no go.

Thanks

Candyman thank you very much for the video, but I could not make it work. It could be because am using window10. I cannot never see the ASCII line to copy the code from.

Again, thanks for all your help and take care,

Sorry I could find or make it work either. Give it some time someone else to jump in and help.

Thank you,

F

forexonly friend

im unable to find 0049.BA0A plz guid me

 

 

 

with regard

N.chandran