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Suggestion My Holy Grail After 4 years of trading

aggieman01 said:
The system is great but have flaws for not knowing volume. I been trading successfully a long time and found this system interesting. So I thought to include my knowledge of Forex. But you wondering why so much drawdown. It's because the signal doesn't take into account On balance volume swings. What that means, every pair have different levels of overbought/oversold levels so Stochastic indicator will not fit every pair. Wondering why May 18 GBPAUD buy signal took so much drawdown, look at my chart, if you can read steps then you know what I'm talking about. You need to include the TMA centered MACD indicator and set levels for each pair then you will see when the signal will stop recalculating then enter. I hope this helps, timing is everything , not just a signal. My two cents.

Aggieman
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thank you for the idea, please do you mind sharing settings for your supertrend indicator?
 
Guz Trolini said:
Hi alij79, I trade manually, no indicator. My chart markups looks like this, it takes effort yes, it personally took me years to get to this level. You won't find a accurate EW indicator anywhere out there, it doesn't exist. You have to do markups as the market unfolds.

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Thank you very much for your deep insight.
I will start studing Elliotto Wave again.
You are the real forex master.
 
bp2000 said:
I think I can modify the WolfWave Indicator and follow this elliott-wave rules.
One question, you enter on wave 4 or wave 5, if enter on wave 5, that means not follow trend, am I right?
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Hi bp2000, Wave 1 - 5 is one complete cycle, which will be followed by a corrective wave. So you are correct, after wave 5 you expect a re-tracement/trend correction in the opposite direction. Hope that helps.

Guz

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Hello
I think, this is a very interesting discussion about EW. But would it not be good to have it in a thread of it self? At least I would join it if it was ...
Br
Gl
 
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this might be a solution to reduce draw down, open trades are by the EA, which i love thanks bp2000. the TMA havn't given a signal for entry yet in any of the pairs. still watching it
 

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Hi Guys,

This has nothing to do with the system, I apologize, just to help out a bit. There's some nice scalps coming up in the next 14/15 hours, I did the EW analysis on the m30 time frame.

My Watch List:

USDCAD > long
NZDUSD > short
AUDJPY > short
AUDUSD > short
EURAUD > long

I'm aiming for 30 pips from each pair.

Trade Safe
Guz
 
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