Intraday Trading the Forex market to make consistent profit

[TheRumpledOne]

"Major Magnum as now been following my method for approx 7 months - and he is still discovering all the significance of the LR structure - and that's after approx 1000 hrs of watching how they work."

Perhaps Major Magnum can chime in more often and help with the clues.

 

[TheRumpledOne]

STILL SITTING SHORT...

 

[Forexmospherian]

LR structure on EJ

This chart was the EJ prior to 1 00 pm UK time

I will now post at 1 15 pm - showing a nice 20+ pip rise

Hi TRO

These 2 charts are a great example of LR structure in advance of Price Action

Even now at 8 00 pm UK time I have the EJ still in a bullish session structure above 139 55 area. I would need to see back under 50 and 45 to be holding any short scalps on longer as my main 3 long term LRs still have the correct structure for higher.

That obviously starts to change under 45

 

[TheRumpledOne]

STILL SITTING SHORT...

 

[TheRumpledOne]

Hi TRO

These 2 charts are a great example of LR structure in advance of Price Action

Even now at 8 00 pm UK time I have the EJ still in a bullish session structure above 139 55 area. I would need to see back under 50 and 45 to be holding any short scalps on longer as my main 3 long term LRs still have the correct structure for higher.

That obviously starts to change under 45

That's nice, F, but we have to DEFINE bullish session structure in a way that the computer can recognize it. Well, at least I do...LOL!

 

[TheRumpledOne]

OUT... price closed above the previous candle's midpoint.

 

[TheRumpledOne]

Just so you know, F, you are 8 hours ahead of me.

 

[4exbob]

me2

Good day, NVP:

You VOYEUR...lol!

me2 :cheesy:

reading & learning in the background ....

great thread TRO, you brought under the attention
and for F 4sharing and explaining.

grtz from BE
Bob

 

[Forexmospherian]

EJ - at NY Close time

You should have exited around 8 00 pm UK time - midday for you TRO at say 64-65 on the sell and then scalp bought again

My cut off now is under 139 60 on up bias for scalps

Off to bed soon - but will carry on with EJ tomorrow from Opens

Regards


F

 

[TheRumpledOne]

me2 :cheesy:

reading & learning in the background ....

great thread TRO, you brought under the attention
and for F 4sharing and explaining.

grtz from BE
Bob

This is F's thread not mine. He gets all the credit.

 

[TheRumpledOne]

I upgraded the multimeters to use the semaphores - easier to read.

By glancing at the meters you can see if how many chart periods are indicating buy or sell.

The 3LR compares price to the 3 white LR lines. The number tells you if the majority of the LRs are over/red/bear or under/green/bull the current price... A 3 means ALL IN!!

The 9LR compares price to all 9 LRs lines. The number tells you if the majority of the LRs are over/red/bear or under/green/bull the current price... A 9 means ALL IN!!

What I am seeing is when price makes a new high and then crosses below the 3 white LRs, it is time to get your shorts on!!

Since the LRs lag, it keeps you from entering too early and going negative most of the time.

 

[TheRumpledOne]

M1 and M5 both have 9 LRs over price... should really tank

 

[Forexmospherian]

M1 and M5 both have 9 LRs over price... should really tank

Hi TRO

Interesting - I never had 9 lrs over on 5 min or 1 min

In fact only briefly 8 down to 74 price only 7

Also supports 65-70 and I would need under 60 for it to tank - as i still have a bullish structure again

I will post my charts again this morning

Notice high so far at 139 95/96 - was at the start of the 5 00 am UK time Time Window

After that hr change at 91/92 - it was then sell - sell - sell as from 9 Lrs under - we went to 3 white lrs over

Update to follow


Regards


F

 

[Forexmospherian]

Just coming up to 10 00 am UK time - so 2 am in morning for you TRO

EJ did another false test of that 139 60 area. I had both dynamic and hoizontal supports from 57 to 62 area - and my LR structure was still bullish

It bounced at 59 and yes - 9 41 am - end of half hr time window it was a scalp buy at 61/2


Within 10 mins it was at 139 83


Nice

Have posted some EJ charts on other thread - but will update again later with chart on this post

Regards


F

 

[Forexmospherian]

Cannot show the uptrend channel so well on a 1 min chart - so used a 4 min chart with key prices to stay above being 139 60 and 50 now

HI TRO

This 4 min chart shows the EJ up channel better

This was taken just before 2 news items in next 10 and 20 mins

Will explain more about LR's - but on 2 - 5 min charts structure still bullish as you can see

As we know this can all change within 18 mins - ie TW


Regards


F

 

[rw48gmx]

Scalping...

Hi F & TRO,

first of all, thanks for the contribution to this forum and the trading lesson for all
of us readers.

I try to follow TROs“ effort for a trading system...

In my chart I have 3 white Lrs and TRO`s RAT-Zone indi(triggers in that area looks good).

For Lrs I use indi LinearRegression_nrp price cross_alerts nmc.mq4, receiving an alert when price crosses white LR.

As a second reminder, I get an alert from TRO`s indi BullAndBear_TRO_Modified_Version.mq4,
alerts also in the area of crossing white Lrs.

So after the alert I start my screen staring time and wait...

Maybe TRO can implement this alert function...

Now a last question to TRO. Can you explain in simple words about the predicting or leading ability of linear regression? (comparing to MA“s)

Thank you again for your impressive work.

Best regards

rw48gmx

 

[Forexmospherian]

Hi rw48gmx

Thanks for your comments

One method to assist you on taking trades is the time window periods - ie 9 mins either side of the hour and half hr frame changes

I have always preferred LRs to MA's over my trading journey for quite a few reasons and I am sure TRO might elaborate on some

I do plan to try and assist TRO as much as possible with his coding exercise - as my system is complex and not a normal simple method.

I have found though over the last 7 years it works most days in any conditions - and I generally end up with 10 - 20 trades during the main period of the trading day

With TRO's help - coding might be able to make the method even more profitable allowing 25 -40 trades+ a day with out the stress and strain of trying to find all the correct set - ups on multi pairs

Over to TRO for his thoughts


Regards


F

 

[TheRumpledOne]

"Now a last question to TRO. Can you explain in simple words about the predicting or leading ability of linear regression? (comparing to MA“s)"

THERE IS NO CRYSTAL BALL!!

 

[TheRumpledOne]

If price crosses and closes above the LR, buy.

If price crosses and closes below the LR, sell.

Take your 3 - 5 pips and be happy.

This is a SCALPING METHOD designed to make 3 - 5 pips. Don't let what you could have had effect you. IN/OUT and FORGET! Wait for next entry opportunity.

RULE OF THUMB.. DO NOT TRADE AGAINST THE H1 AND D1 CANDLE COLORS!

 

[TheRumpledOne]

Hi rw48gmx

Thanks for your comments

One method to assist you on taking trades is the time window periods - ie 9 mins either side of the hour and half hr frame changes

I have always preferred LRs to MA's over my trading journey for quite a few reasons and I am sure TRO might elaborate on some

I do plan to try and assist TRO as much as possible with his coding exercise - as my system is complex and not a normal simple method.

I have found though over the last 7 years it works most days in any conditions - and I generally end up with 10 - 20 trades during the main period of the trading day

With TRO's help - coding might be able to make the method even more profitable allowing 25 -40 trades+ a day with out the stress and strain of trying to find all the correct set - ups on multi pairs

Over to TRO for his thoughts


Regards


F

I appreciate your efforts, F.

Once again, I am trying to understand the pieces and code indicators accordingly.

Then I can assemble a dashboard so traders can see where the next trade opportunity lies.

But to do this, I have to know each part of the setup. So far, time to trade - simple, support/resistance areas - not so clear yet - need a list, triggers - what F sees that makes him say YES, and click the trade button.

F may be more of a artist than a scientist when it comes to trading. And that is difficult to quantify.