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Flying Dutchman

  • #10,701
  • Oct 4, 2024 12:31pm Oct 4, 2024 12:31pm
Quoting Shabs19
{quote} The Day Open Line was the starting point regardless, the intent was marked when 25 - 33 % move was in one direction from the DO. Even if it dipped above or below then resumed towards the suggested 25-33% entry point in that direction. Backtested the strategy and it was at best 50-50 predicting the market direction, as you would agree when Franky /London sessions open, it can swing around quite quickly. It's nice when it works, of course your money management skills woud have to be up to scratch when it doesn't.
Well...according to the initial post by BW about it...

https://www.forexfactory.com/thread/...2#post14347422

BW said - "Let's say, GU ADR is 150pips, and we take 33% giving 50 pips. At 50pips day range(33%adr), what's the next 50pips expansion going to be, that gives 66% day range? Once you put this parameter of the next 50pips the market will expand to, you find you have to know the market intent for the trading day."

He clearly says "at 50 pips day range". To me 50 pips "range" is definitely different to just 50 pips above or below the open line. Would you not agree?
  • #10,702
  • Oct 4, 2024 1:25pm Oct 4, 2024 1:25pm
Quoting Danger-Mouse
{quote} Well...according to the initial post by BW about it... https://www.forexfactory.com/thread/...2#post14347422 BW said - "Let's say, GU ADR is 150pips, and we take 33% giving 50 pips. At 50pips day range(33%adr), what's the next 50pips expansion going to be, that gives 66% day range? Once you put this parameter of the next 50pips the market will expand to, you find you have to know the market intent for the trading day." He clearly says "at 50 pips day range". To me 50 pips "range" is definitely different to just 50 pips...
Basically it was first H4 (candle) intent if that candle range exceeded 33 % of the ADR then the trader should be able to pocket the next 50 pips
which in this example was the next 33% of ADR.
So yes, you are correct.

But of course Franky & Don have other ideas ...................
It never gets easier, you just get better
  • #10,703
  • Oct 4, 2024 5:06pm Oct 4, 2024 5:06pm
Great discussions guys
(Dave, Danger & Shabs)

I don’t want to harp again lol, but imo all systems and methods “should” work folks

Whether we can sit for 4hrs after 4 hrs watching candles (usually London to NY)
or whether we just scalp in Asia if that's our major session
or Swing Trade Franky-London
it is all the same imo.
Main difference can only be ourselves and how we handle/manage it all imho.

BW chose the GBPUSD if I remember
(but then he didn’t think horizontal line traders were honest I think he said hahaa)

Each to their own of course.


GJ is a special beast I reckon (the Dragon lol)

But, Dave, later when you get up, is there any chance popping up the London Breakout System Chart on the GBPUSD for us

Below I put both the GJ review and
then GU review
Mechanics will always be the same imo

Trade safe & then well folks

NFP day lol

.
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  • #10,704
  • Oct 4, 2024 5:19pm Oct 4, 2024 5:19pm
Quoting TimeTells
Great discussions guys (Dave, Danger & Shabs) I don’t want to harp again lol, but imo all systems and methods “should” work folks Whether we can sit for 4hrs after 4 hrs watching candles (usually London to NY) or whether we just scalp in Asia if that's our major session or Swing Trade Franky-London it is all the same imo. Main difference can only be ourselves and how we handle/manage it all imho. BW chose the GBPUSD if I remember (but then he didn’t think horizontal line traders were honest I think he said hahaa) Each to their own of course....
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  • #10,705
  • Oct 4, 2024 5:43pm Oct 4, 2024 5:43pm
I do Simple very well ?
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  • #10,706
  • Oct 4, 2024 5:46pm Oct 4, 2024 5:46pm
Quoting OAPDave
I do Simple very well ? {image} {image}

Yes

And ALL systems should do well imho

If they don't, we maybe shouldn't blame - the system

have a great weekend folks
  • #10,707
  • Oct 4, 2024 6:00pm Oct 4, 2024 6:00pm
Quoting OAPDave
{quote} {image}



AND, maybe the GBPUSD if you have time
  • #10,708
  • Edited Oct 5, 2024 2:03am Oct 4, 2024 6:40pm | Edited Oct 5, 2024 2:03am
Quoting OAPDave
{quote} {image}
Interesting, for UJ you chose the NY Open H1 candle to draw your BO zones from.

Because it is one of the heaviest traded pairs on the US session maybe ?

I would imagine for EU would be Franky Open range, and GU the London Open range based on volume.
It never gets easier, you just get better
  • #10,709
  • Oct 5, 2024 2:56am Oct 5, 2024 2:56am
Quoting TimeTells
{quote} AND, maybe the GBPUSD if you have time
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  • #10,710
  • Oct 6, 2024 8:19am Oct 6, 2024 8:19am
Quoting OAPDave
https://youtu.be/EFq360WvOss {image}
All the information you need to know is on the Chart itself, these things are a distraction IMHO.

Good for selling courses only.
It never gets easier, you just get better
  • #10,711
  • Edited 7:26pm Oct 6, 2024 4:09pm | Edited 7:26pm
Quoting OAPDave
{quote} Not here to Rock the Boat So I suppose although I cannot win either way I have deleted the informative post After all it was only a Standard Bill Williams Indicator on all mt4 platforms and its use

Hi folks,

Pls let’s not go back to the posting and then deleting posts afterwards.

If we believe in something post it, that’s it, leave it up for discussion and don’t be defensive if another trader might suggest something else.
Other traders can then make up their own mind by examination & testing
(best doing testing on a Simulator, but just my opinion, for saving time & any slow current chart movement watching).

After a post deletion it will mess up any continuity on the thread for a new trader coming in & reading later.
Many of us are old hands here I know, but occasionally I notice a few come in who will be new to trading (well, by their FF join date)

Dave, there is nothing “wrong” with standard indicators
BUT
Many times we try & advise new traders that these “standards” are not either the answer or solution to trading the complexity (and conversely, the simplicity) of our markets.

The indi you showed can only be a past-history of what HAS happened, and as such does not predict or even give a probability (imo) for anything on the “very next” candle.

In my opinion (maybe only me lol) new traders would be best served by trying to grasp the overall Market Mechanics first.

They could do this initially by first examining a basic graphic, the Wyckoff Cycle (WC).
Or delve into pure situational mathematics also.

As the WC does NOT show anything for LIVE trading, in the sense of PRICE & TIME,
a new trader then can move their focus to a live situation and assess where we might be in a cycle
(around the same time ie 100 years ago Elliott came out with a Waves Theory again trying to show in a graphical form how Markets might move theoretically)

Wyckoff Cycle and Elliott Wave theory are great in graphics imo
YET when a trader has to transpose those graphic images in their mnd into a real-time real-life situation there the issue lies
(sometimes it’s hard to get two Elliott Wave’ers to agree where we are in a cycle OR even which timeframe is best used).

So I guess my, long winded (again sorry), post is for new traders in not trying to replicate any one of the existing 10,000 threads system ideas or 10,000 indicators but to BEGIN by examining the Mechanics of Market moves that occur on a daily basis and during which times of the day.

And new traders can then drill down to a current chart price & time scenario where a trade may be viable
(should be at least two a day Edit: Session imho, but more or less also I guess).

Ultimately I believe once the market mechanics are grasped then a trader could add ANY indicator afterwards, or template, while using them in the fullness of their understanding of the market Mechanics (using indis as a visual aide, maybe)

Monday, a new week, all the best to all (red news Thur & Fri for the USD and CAD)
Trade safe, trade well
  • #10,712
  • Oct 6, 2024 6:18pm Oct 6, 2024 6:18pm
Quoting OAPDave
{quote} {image}
Post them up Dave ! I didn't see post (I don't think) but hey all's good...

I quite enjoy your charts tbh... As myself I would call myself a Momentum Breakout trader... I actually tossed up a 1 hr chart GJ and GU this morning.. and played with a few different "opening times" for that 1 hr period..

I may not always press an uptick for a post ...normally as I would like them all ..but I don't want to have someone's notifications show a whole slew of likes from Blue..lol.. I wish their was a way to filter those actually.

But anyways keep posting ... I for one enjoy the charts whether indis or not...

No right or wrong.. makes me think of Anthony Crudele...using Bollinger Bands etc.. personally for me I thing their as good as a cats hairball coughed up....

But it works for many...so whom am I to judge...

If it works for you that is all that matters...

Cheers !
Master your Mind,,,Master the Market
  • #10,713
  • Oct 6, 2024 7:27pm Oct 6, 2024 7:27pm
Quoting bluesteele
{quote} Post them up Dave ! I didn't see post (I don't think) but hey all's good... I quite enjoy your charts tbh... As myself I would call myself a Momentum Breakout trader... I actually tossed up a 1 hr chart GJ and GU this morning.. and played with a few different "opening times" for that 1 hr period.. I may not always press an uptick for a post ...normally as I would like them all ..but I don't want to have someone's notifications show a whole slew of likes from Blue..lol.. I wish their was a way to filter those actually. But anyways keep posting...
Always thought that you had an
Open mind
To all things trading
Thanks for the reply
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  • #10,714
  • Oct 6, 2024 7:42pm Oct 6, 2024 7:42pm
Quoting OAPDave
{quote} Always thought that you had an Open mind To all things trading Thanks for the reply https://youtu.be/EFq360WvOss {image} {image}
Post them up Dave
  • #10,715
  • Oct 6, 2024 9:53pm Oct 6, 2024 9:53pm
Just some RoadMap charts...

200SMA
8 EMA channel
55 EMA channel
Open/Close
High
Low

Fairly Straightforward and simple isnt it ?
Edit: GJ 5min Mon thru Fri last Week and todays Open...........
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Master your Mind,,,Master the Market
  • #10,716
  • Oct 7, 2024 3:15am Oct 7, 2024 3:15am
Quoting TimeTells
{quote} Hi folks, Pls let’s not go back to the posting and then deleting posts afterwards. If we believe in something post it, that’s it, leave it up for discussion and don’t be defensive if another trader might suggest something else. Other traders can then make up their own mind by examination & testing
Ultimately I believe once the market mechanics are grasped then a trader could add ANY indicator afterwards, or template, while using them in the fullness of their understanding of the market Mechanics ...
Well Put
It never gets easier, you just get better
  • #10,717
  • Oct 7, 2024 3:21am Oct 7, 2024 3:21am
Quoting bluesteele
Just some RoadMap charts... 200SMA 8 EMA channel 55 EMA channel Open/Close High Low Fairly Straightforward and simple isnt it ? Edit: GJ 5min Mon thru Fri last Week and todays Open........... {image} {image} {image} {image} {image} {image}
When the RoadMap first appered I was working with NIH98 Method
hence I used his setting for a similar approach
Also been testing the MFI method
adjusting the Opens to match the signal bar
not much point in going much earlier as would not be infont of my screen
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  • #10,718
  • Oct 7, 2024 4:56am Oct 7, 2024 4:56am
p.s
Not forgetting
Good old Mr Murrey
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  • #10,719
  • Oct 7, 2024 6:18am Oct 7, 2024 6:18am
Quoting bluesteele
Just some RoadMap charts... 200SMA 8 EMA channel 55 EMA channel Open/Close High Low Fairly Straightforward and simple isnt it ? Edit: GJ 5min Mon thru Fri last Week and todays Open........... {image} {image} {image} {image} {image} {image}
Yep- simple is best
every Saint has a past. Every Sinner has a Future
  • #10,720
  • Oct 7, 2024 6:20am Oct 7, 2024 6:20am
Quoting TimeTells
{quote} Hi folks, Pls let’s not go back to the posting and then deleting posts afterwards. If we believe in something post it, that’s it, leave it up for discussion and don’t be defensive if another trader might suggest something else. Other traders can then make up their own mind by examination & testing (best doing testing on a Simulator, but just my opinion, for saving time & any slow current chart movement watching). After a post deletion it will mess up any continuity on the thread for a new trader coming in & reading later. Many of us are...
Great post TT.
every Saint has a past. Every Sinner has a Future
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