If you read my explination you would be able to answer that yourself. You scale down from the highest TF until you find a counter trend......

I notice a lot of questions and critics. I just want to say thanks for all your efforts. I manage a small Forex fund and have found the implementation of your MTF system a great asset! Traders worth their salt don't need their hands held on SL issues and the like. Keep it up! Thanks again.

It's not being cocky it's running two multiple threads on two forums. I am repeating myself to the point of not having enough time to change my method on the hour to the minute.

Listen, your sour disposition is very welcome actually. I was expecting more by now and was wondering if I was going to encounter a 3 standard deviation of productive posts to non productive posts. Alias you kept it at only 2 standards.

Thank you!

By the way you are going to be ignored.......

Steinitz,

Could you post all three trading set-ups for your strategy in one single document? Maybe you already have and I just can't find it. Please let me know either way. Thanks in advance.

Peace

Hey Steinitz,

I'm detecting an increasing sense of achievement! I've followed your thread on the other forum and now this forum as well. I've put the the method to use in a live account since you first started it and I've had positive results.


The method is simple, buy when it's blue and sell when it's red. That's been the method the entire time. It's so simple, a kindergartner could understand it. What Steinitz is trying to achieve now is a better strategy to increase winning trades.

I've been trying a couple of other indicators along with your MTF HAS indicator. I'm trading on the 5m and 15m.

If the MTF HAS signal says to buy, I check CCI(14) and MFI(14). If CCI(14) is above 100, I will hold off a while and let it retrace down. Once it has done that I will see if the MTF HAS still has a buy signal. If so, I will buy. If not, I let it go.

Same thing with the MFI(14) indicator. If it is above 80, I will let it retrace back down and then check if the MTF HAS still has a buy signal or not and go from there.

I only use these indicators because I feel comfortable with them. There may be other indicators that others could use in the same way. It all depends on what you feel comfortable with. Also, the CCI and MFI indicators are just helping me out. If they don't give me the "exact" number I want to see, I could still make a trade off of it. Remember, they are just indicators. In and of themselves, they don't mean anything to a winning trade.

I'm still able to get winning trades even if all my indicators aren't "perfect" because I've seen them work hundreds of times before. It comes from experience with the market and the indicators that you like to use.

With the MTF HAS indicator I've stayed in trades longer than I normally would have. I use to get my 20 pips and I'd be out of the trade. Now, I'm getting 65+ pips on a winning trade because the MTF HAS indicator was still showing a positive blue signal (or a negative red signal)

I don't use a stop loss either. I buy when it's blue and sell when it's red. It's just that easy.

Steinitz, thanks for all your hard work on developing a winning strategy with the MTF HAS indicator. If I can put something together with the CCI and MFI I will let you know.

PS. If you go to another forum, let me know because I'm following you!

Yeah, I'm ignoring that above poster too. I checked out his other posts and it doesn't look like he's made any type of positive contribution to the forum. Even critical comments would be positive, but he's just a basher.

Thanks for your comments. I, too, appreciate his hard work. Please tell me what the MFI is. Thanks again.

My charts:

As you can see, the MegaTrend indicator on main chart catches the beginning and end of trends much sooner than Heiken Ashi Smoothed on longer timeframes (30 min and up). I dont think its very reliable on faster timeframes as there's too much whipsawing. 30 minute is kinda suspect as well. Also allows one to trade on retracements and correction with more confidence.

*NOTE* IT DOES NOT REPAINT/REDRAW!

The FX Sniper Ergodic CCI mimics the MegaTrend but with a MA crossover type feel. Either one would work in getting as close to beginning and ends without headfakes as possible.

I personally like to trade on 4 hr charts, using 1 hr. as entry and 30 min. as warning.

Check it out.

Attached Images

gbpjpy_has.gif (40.7 KB, 1663 views)

Holidays in France, tookto study sevral strategies.
I found, may be everybody seen it, an adaptation of this method to reduce risk for those who don't have 5 billions $ margin (like me).
Chart: M5 only.
1: Scroll back to check the trend in M30 and H1 (bullish bearish go with the trend).
2: Enter short (2Lots or 2mini) if H1 M30 and M15 (edit: M15 is not becessary) is red and M5, coming from blue; just TURNED red (2dots and wait for the close).
3: Put a stop on the previous high (+spread), it will rarely be higher than 10 pips because we just leave a consolidating phase. If the high is too high use the close.
4: put a TP for one lot of the amont of your SL.
5: Your TP is hit (often): TRAIL a Sl of the same amount for the second lot.
What is the (i don't know the word) of this adaptation:
1: you can catch big moves with your second lot, at a cheaper price (tight SL).
2: You will increase your entry signals because it's 5tf, always at cheaper price , it means that if you loose four, five, times in the row, you will catch a big move and see your money back with profit.

EDIT: Do the inverse if going long.

Now where to exit the second lot : Wait for the first opposit dot on M30 (edit, or the third on M15). Stay calm, you already pay your loss with the first lot, and you're trailing the second one .
I call this system THE FLY ASHI

Make an EA for it or backtest it manualy you'll see it may be profitable.
The fly.

Mr. Steinitz,

Many of us here are looking for something more profitable than what we now employ; we come here with perhaps a bit of naivete, no street savvy of these forums and tend to believe more than we should. In this case we see Mr Steinitz proclaiming a near "holy grail" method and after some initial investigation we become hopeful that maybe we have finally found a simple method that we could put to use with a fitting MM strategy and achieve our goals.

I see two of these same kind of people expressing a concern over contradictory trading practice by Mr Steinitz. For followers who hang on every letter of his direction, they must feel a sense of incredulity that some of his trades are taken in direct conflict to the rules that he so vociferously explained and punctuated in post 68 about "blindly following the rules...."
Then you have that kind of a response to legitimate questions, and yes Mr Stienetz it was rude and seemingly arrogant and leads one to wonder if that isnt the reason you're no longer moderating.

And just for the record, whether you know it or not, a black jack player does employ stops - he has the luxury of asking himself each hand if he's in or out and for what amount of risk. We all know markets are not that forgiving and once you're around long enough to be hammered by a BOJ buy down or a Bill Clinton sellout ('97), you'll realize the very basic reason for having a stop.

I personally have found your method very tradable from my perspective and simple to follow and would like to continue to follow the results of your efforts and your generosity in sharing this with fellow traders. But whatever the reason, I would respectfully request that members here be treated with respect and courtesy.

I wish you luck and much success in the development and implementation of your method.

WT

Look at the previous post. We post at the same time.