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"solitaire"
*****NEW INDICATORS AND TEMPLATE ON POSTS 1 - 2 - 4*****
SOLITAIRE - (noun) = Also called PATIENCE. any of various games played by one person. PATIENCE is the MAIN rule of this or any method.We have PATIENCE and wait until a trade comes to us. we DO NOT chase trades. We have PATIENCE and WAIT until there is as near a perfect set-up as possible.By doing this we will MAXIMISE our profits and MINIMISE our losses. this method is a work in progress CHART SET UP CURRENCY PAIR - ANY PAIR (majority of testing and live trading has been done on the GBP/USD and some on the EUR/USD but has been designed to be a working method on all pairs) TIME FRAME - again i personaly use the 15min chart as i like the low risk trades that the method produces there,but again this will work on ANY timeframe. INDICATORS - the M.A.C.H series of indicators are based around Heiken Ashi and include various filters including Volatility ,momentum,AMA,MA angles,averages, i have changed these indicators so much from there original settings and names it was easier to keep track of by calling them M.A.C.H 1.2.3.4 ETC and so the M.A.C.H series was born.........enjoy THE ENTRY - The signal for an entry is when the M.A.C.H.0 (i know i know,it looks like macho lol,this is purley coincadental and not a reflection on me,although i am......a bit) anyway........when the M.A.C.H.0 changes colour this indicates a change in direction, if when the CURRENT bar has closed and the M.A.C.H.0 has changed colour we then look down the line to see if we have same colour conformation from the other indicators,if this is so we can then ENTER a trade on the OPEN of the next bar. STOP LOSS - REMEMBER TO ADD SPREAD TO YOUR INITIAL STOPLOSS PRICE initial stop loss is to be placed at the top/bottom of the first smiley that has changed colour and then moved up/down to the next smiley every 5 mins,you may find that the first smiley that changed colour is 2 - 4 candles away,it is still used as the initial stop loss, EXIT - when stopped out by the M.A.C.H.STOP indicator OTHER THOUGHTS The M.A.C.H. daily range indicator shows the average daily range for the pair,now obviously it is just a guide that the pair MAY have reached its top/bottom for today,BUT if you do get for example a signal for a buy trade and the indicator is telling you that there is only 10 pips room up then there is maybe a chance that the trade could go wrong as theres not enough room left,but as always there will be times that you take this advice and the pair makes a new high/low and it would have been a good signal.........this is the world of forex that likes to bite us on the bum,so be carefull if this happens.sometimes its better to play patience and wait for another trade...besides if the pair has reached its range for today you SHOULD have caught the trade up/down anyway with the "solitaire" method lol so dont be gready thoughts on lot size.....i played around last week with adding a lot EVERY time i got a full line of conformation AFTER the initial entry and it WORKED REALLY well.......... thoughts on news...........as ALWAYS be carefull around news time, before and after,personaly IF i am already in a nice trade with pips locked in i will continue to let it run through the news as sometimes the pip god is in our favour and it DOES go our way and if it goes againts me then i still collect my pips.........on the other hand IF i am not in a trade it is very very unlikley that i will enter a trade before any news comes out,and for a while after it has settled down well hope you enjoy letting the "solitaire" make you some pips........ *any changes/improvements made will be updated on this the first page* *INDICATORS CONTINUED ON POST 2 AND POST 4* Last edited by dsforex; 03-19-2007 at 04:46 AM. |
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