using technical signals for entrys and exits

[hayseed]

one best things about using technical signals for entrys and exits is their impersonal nature..... for the most part they are not subjective, meaning there should not be the need for interpretation ....... a daily macd 0 line cross should be the same for everyone using the same broker and server time....

two practices of mine are trying to improve the number of winning trades in a row and percentage of trades hitting their original profit targets.... by practices i mean like practicing free throws in basketball.... practicing methods to increase both winning trades in a row and % targets hit seems to help.....

winning trades in a row is easy to tally ..... but i've never figured a way using mq4 to tally % targets hit..... so i do it manually by using the trades closing color in the account history tab.... note, a profitable order manually closed will be white and a profitable order closed by a trailing stop will be red .... bottom line for me is, any color other than green is considered a failure.....

using technical signals along with limit and stop orders placed at end of day seem to help.....h

 

[Enivid]

Lots of my trades have initial risk-to-reward ratio 1:3 or more so my answer is definitely < 50%.

 

[hayseed]

Lots of my trades have initial risk-to-reward ratio 1:3 or more so my answer is definitely < 50%.

hey enivid..... i can see where risk to reward could have a impact.... r:r is not something i use in the normal manner but the principle is the same..... my task then would be, when using 1:3, how do i improve my 'green' % rate..... ie, get it definitely > 50%.....

in my real case, such as examples in the cassandra thread, how do i best ensure the trades reach their original intended target....

in a daily sell signal, selling a new 60 minute zigzag up leg with a 240 atr target seems to increase the green rate.... this gives both position and realistic target.....

other such practices come to mind...... my search is for anything that improves the green rate.....

i can't seem to shake the idea that forex is best suited for slow methodical steps.... but of course that might be just my nature.....h
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[hayseed]

in a daily sell signal, selling a new 60 minute zigzag up leg with a 240 atr target seems to increase the green rate.... this gives both position and realistic target.....

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the 240 zigzag could possibly give even better position with less risk..... over the life of a valid daily or weekly signals run, there are usually a considerable number of lower time frame counter trend swing points.....

in the gbpnzd chart below, if there was a valid daily sell signal, any new 240 zigzag leg assures 6 of the 8 timeframes were at a counter trend point to the daily.....

entering a sell at this point is the whack-every-rally mindset..... using the 240's atr might increase the 'green' % rate.....

also, that latest up leg occurred around lunch time for new york.... quiet often the markets will relax some over the next 4 hours giving the short even better odds....

time of day can be a valuable practice also....h
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[hayseed]

another current example of both hour of day and lower tf swing points would be the eurcad 240..... with 6 of the 8 timeframes countertrend to the daily and with the almost natural tendency of the markets to ease a bit over the next 4 hours, the trade might have a better than average chance of hitting it's original profit target.....

make no mistake about it, my trades are small.... when large sums are at stake, i can clearly see where closing the trade early might be advisable.....h
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[altitudesinals]

one best things about using technical signals for entrys and exits is their impersonal nature..... for the most part they are not subjective, meaning there should not be the need for interpretation ....... a daily macd 0 line cross should be the same for everyone using the same broker and server time....

two practices of mine are trying to improve the number of winning trades in a row and percentage of trades hitting their original profit targets.... by practices i mean like practicing free throws in basketball.... practicing methods to increase both winning trades in a row and % targets hit seems to help.....

winning trades in a row is easy to tally ..... but i've never figured a way using mq4 to tally % targets hit..... so i do it manually by using the trades closing color in the account history tab.... note, a profitable order manually closed will be white and a profitable order closed by a trailing stop will be red .... bottom line for me is, any color other than green is considered a failure.....

using technical signals along with limit and stop orders placed at end of day seem to help.....h

Hey! Well i use rr, in EVERY trade. I typically have more than one TP levels >75% of the time the first 2 hit. For the main TP (the largest) it hits <50% of the time

 

[hayseed]

another 'practice' is observing londons opening hour compared to the trend and placing trades accordingly....

in the chart below, a indicator is marking londons opening hour bar with a lime line if it closed up and a red line if it closed down.....

the support/resistance and trend signals changed at (1) so it is best avoided.....

at (2) and (3), the trend is down but london open closed up..... a sellstop at the bars low has a high green rate.....

at (4) and (5), the trend is down and london open closed down..... a normal sell at the openings bar close has a high green rate....

in (2) and (3) i would have made more by selling at the opening hours close of course...... but with increased risk.....

my goal is not to make more, it is to increase the green rate without increasing risk......h
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[hayseed]

another 'practice' is to stay aware of the weekly atr left...... trades made on signals early in the week have a higher success rate for me than ones later in the week.....

as shown here, there is a valid audnzd daily alma/tsr cross sell signal..... but the average weekly atr is long gone.... and the monthly has less than 100 left.....

these 3 trades are pushing their luck.......h
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[hayseed]

so many indicators and lines going on there. easy to over complicat things at times not all trades go to profit just need to find good risk managment

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hey kim..... just a few zigzag lines and a couple indicators.... few others running unseen in the background..... pretty simple.....

indicators can be considered an essential form of "risk management"..... by adhering to them, i lessen the chance of my just throwing darts ......

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from the fwiw department, knowing the average atr on every pair per hour of the day can also be of value when choosing a profit target.... some hours consistently have 3 times the atr of just a few hours earlier.....

the euraud has now moved 33 pips past it's daily average..... the average atr drops 25% next hour..... why.....

knowing these type things does not necessarily assure profit, but when combined they can be helpful..... they don't necessarily have to be seen, they can run out of sight in the background......

it's true, "not all trades" end in profit..... but imagine having 500 in a row that do..... that takes risk management...... which is supplied by a few lines of mq4, at least for me......h
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[ECDIS]

you always win not fail？？

 

[hayseed]

you always win not fail？？

hey e..... no, i fail like everyone..... trend following can have very long strings of winners..... at tail end of the trend the losers will usually show up....

and sometimes the change in trend does not follow thru but resumes the prior trend.... like in the nzdcad below,........

my trades that were based off the alma, tsr, and bearish butterfly pattern..... all 3 are what i'd call usually good signals but in this case just faked me out......

there is a saying, 'don't let a winner turn into a loser'...... it applys here..... perhaps i should have closed those trades......h
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[ECDIS]

you always win not fail？？

how much can you earn each month?

 

[hayseed]

hey ecdis..... my results vary widely..... keep in mind my average trade size is 0.02..... and also i actually spend little time trading..... most of my time is spent waiting on signals......

if i can average 10% i feel productive..... some months might be twice that and some months are negative.....

i'm kinda of a low risk, low stress , laid back , take it or leave trader......h

 

[sunar14]

one best things about using technical signals for entrys and exits is their impersonal nature..... for the most part they are not subjective, meaning there should not be the need for interpretation ....... a daily macd 0 line cross should be the same for everyone using the same broker and server time....

two practices of mine are trying to improve the number of winning trades in a row and percentage of trades hitting their original profit targets.... by practices i mean like practicing free throws in basketball.... practicing methods to increase both winning trades in a row and % targets hit seems to help.....

winning trades in a row is easy to tally ..... but i've never figured a way using mq4 to tally % targets hit..... so i do it manually by using the trades closing color in the account history tab.... note, a profitable order manually closed will be white and a profitable order closed by a trailing stop will be red .... bottom line for me is, any color other than green is considered a failure.....

using technical signals along with limit and stop orders placed at end of day seem to help.....h

If you don't intervene into your trades and move SL and TP % of winning trades should be equal to % of trades which hit the target. This is called discipline . What you get from following the rules is that trading results show genuine performance of your trading algorithm (since there is no 'noise' caused by manual interventions)

 

[hayseed]

If you don't intervene into your trades and move SL and TP % of winning trades should be equal to % of trades which hit the target. This is called discipline . What you get from following the rules is that trading results show genuine performance of your trading algorithm (since there is no 'noise' caused by manual interventions)

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hey sunar...... mathematically speakin, what you said is true..... especially when using sl and tp in the form of fixed number of pips.....

at some point the old saying, "don't let a winner turn into a loser " might create some noise..... or a trailing stop might......

when using technical indicators for entrys and exits, you quite often have no clue where they might be in terms of price....

we all saw the daily eurusd break the psar but who could possibly know where the reverse might be.....

following our rules to the death might reflect 'genuine performance', but when death approaches, i have been known to 'manually intervene' for self preservation.....h
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[Petrick Liman]

hey enivid..... i can see where risk to reward could have a impact.... r:r is not something i use in the normal manner but the principle is the same..... my task then would be, when using 1:3, how do i improve my 'green' % rate..... ie, get it definitely > 50%.....

in my real case, such as examples in the cassandra thread, how do i best ensure the trades reach their original intended target....

in a daily sell signal, selling a new 60 minute zigzag up leg with a 240 atr target seems to increase the green rate.... this gives both position and realistic target.....

other such practices come to mind...... my search is for anything that improves the green rate.....

i can't seem to shake the idea that forex is best suited for slow methodical steps.... but of course that might be just my nature.....h
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View attachment 17098

this looks like magic!)

 

[sunar14]

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hey sunar...... mathematically speakin, what you said is true..... especially when using sl and tp in the form of fixed number of pips.....

at some point the old saying, "don't let a winner turn into a loser " might create some noise..... or a trailing stop might......

when using technical indicators for entrys and exits, you quite often have no clue where they might be in terms of price....

we all saw the daily eurusd break the psar but who could possibly know where the reverse might be.....

following our rules to the death might reflect 'genuine performance', but when death approaches, i have been known to 'manually intervene' for self preservation.....h
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What's idea behind indicator (oscillator?) shown in the chart?

 

[hayseed]

hey sunar..... it's similar to rsi.....

video below shows possible use..... qqe seems useful to me.....h
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qqe

Qualitative Quantitative Estimation Indicator

Quant trading is a dispassionate decision-making process. The patterns and numbers are all that matter. It is an effective buy/sell discipline, as can be executed consistently, unhindered by the emotion that is often associated with financial decisions.

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[diyforexskills]

hey ecdis..... my results vary widely..... keep in mind my average trade size is 0.02..... and also i actually spend little time trading..... most of my time is spent waiting on signals......

if i can average 10% i feel productive..... some months might be twice that and some months are negative.....

i'm kinda of a low risk, low stress , laid back , take it or leave trader......h

I too trade microlots. But I only take swap positive trades and only when price is in the appropriate zone of the multi year range . So I can trade without stop loss and get a win ratio of 100%.

Yes, requires patience, but even while in drawdown, I am always accumulating profits because of the swaps.

Just don't overextend. Stay within sensible margin requirements to ride out the drawdowns.