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OK, lets go on with the demonstration. If you are tired of my pics...just tell me, OK?
Entered long @ 232.37 just now as finally the QQE crossed above and the dot is again green.
SL 1 pip below low of arrow candle and tp right now at R1 @ 234.74.
But thats just to set a TP. I will exit manually as we still didn't find this genius with the right exit strategy!
I've been looking at various indicators that are being mentioned here as possible candidates to use for entering and exiting these trades. It's my observation only but from what I can tell most all these overlap each other in their sensitivity in detecting subtle variances in price.
For the most part what I am seeing is the ability to enter early which is nice but with that luxury comes the flip side that it also is too sensitive on exits. I have a gut feeling that taking the original idea but adding a closed candle condition and taking the high/low of the current bar plus "X" pips i.e. 30 makes the best sense.
There are some arrows that I simply wouldn't take for entry when looking visually at the angle of the price movement in my case the heiken ashi smoothed indicator. There is a bit of subjectivity in this method that requires strict attention to weakening momentum as a precursor to trend change.
I've been looking at various indicators that are being mentioned here as possible candidates to use for entering and exiting these trades. It's my observation only but from what I can tell most all these overlap each other in their sensitivity in detecting subtle variances in price.
For the most part what I am seeing is the ability to enter early which is nice but with that luxury comes the flip side that it also is too sensitive on exits. I have a gut feeling that taking the original idea but adding a closed candle condition and taking the high/low of the current bar plus "X" pips i.e. 30 makes the best sense.
There are some arrows that I simply wouldn't take for entry when looking visually at the angle of the price movement in my case the heiken ashi smoothed indicator. There is a bit of subjectivity in this method that requires strict attention to weakening momentum as a precursor to trend change.
Don
You are absolutely right.
But that is the nature of an EA. It's a robot only and will NEVER EVER replace the experience, guts or other influences which separates the traders. And nobody says that you can not close a trade manually which has been opened by an EA. The problem is that there are many peoples out there who just doesn't have the time to stay in front of their charts. And these are the ones using EAs mainly. But we should not forget that any EA should only be a helper in your manual trading for special cases and should always be monitored closely. After all it's with our money this robot is playing with.
The hardest part is always the exits. To find an entry (for any pair on any timeframe) is relatively easy... the exit is the secret.
Here is picture of another indicator which picks top/bottom and faster than zigzag pointer in 60 min chart, second indicator in bottom to filter when not to trade plus faster custom Ma than nonlagMa.
I also put zigzag pointer, QQE and nonlagMa to compare with 1st picture in 60 min chart.
What you suggest there i tested some time ago when mpower asked for an EA which used Heineken Ashi. But didn't worked for me so well. So I belived that a fitler was needed, problem solved partialy now.
Anyway a lot of you use the word "discretion", why can't any of you explain it in words like. "If that do that, if that do the other thing....", after all, we work so. Mabe i'm speaking as an engineer but i believe that everything you do by hand can be done by EA the same or even better because the EA doesn't need to sleep .
OK, my last picture...after that I won't bother you anymore.
But these 2 trades where a perfect example of a nice and smooth winner and a hard earned break-even with no real way to find an exit.
Remember I entered at 232.37 at the open of the 11th candle after the arrow.
After +100 I had 2 possibilities: close with profit or move my SL to +1. Guess what I did?
Anyway...still no loss though...even with a twisted pricemovement like this!
Observation
ElectricSavant
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Linear Mode
