Forex

[durgesh147]

A Perfect TS1 sell setup on EURUSD .

[Matt Bowen]

Hi durgesh147,

You've had some great picks... my congratulations! I see you added a few dollars to the the account on that Dow trade.

Much continued success...

MB

[durgesh147]

Hi durgesh147,

You've had some great picks... my congratulations! I see you added a few dollars to the the account on that Dow trade.

Much continued success...

MB

Thanks , Matt . But its all bcoz of MTP . I call it the " Holy Grail " . I din make anything on that DOW Trade . I trade only forex .Here , i have certainly made a killing .All credits to ur software and ur isolation approach to elliott wave theory .

[mcdirt]

For those that have not noticed - I upgraded Genesis to the latest version yesterday and it now supports extra time frames for exporting including 4hour charts (240min).

rgds McDirt

[durgesh147]

Just wonderful !!!!!!!!!!

[durgesh147]

Looks like a promising setup .

[durgesh147]

I feel the bull run in this pair is over as of now and is ready for a correction.

[durgesh147]

Stopped out !!!

[durgesh147]

TS1 sell setup found on USDJPY

[durgesh147]

Proving to be a great trade so far.

[durgesh147]

This one is also proving to be a big one.

[durgesh147]

Closed this trade for a whopping 111 pips in a single day.

[durgesh147]

Holding onto this one for a target of 143.85 with a stop at 142.85 .

[durgesh147]

Looks like a promising setup.

[durgesh147]

Sell setup on hourly.

[durgesh147]

A short setup ahead of FOMC and really played well.;)

[durgesh147]

I am posting the chart of EURJPY which says why i took this long trade.

[durgesh147]

My manual analyis din work this time and i got stopped out for a small loss.:(

[durgesh147]

It seems wave 5 is complete . One shud try to trade it long from here on smaller timeframes .

[durgesh147]

Earlier , i posted the Loonie daily chart in which i said wave 5 might be complete and now we are in wave 1 ( why wave 1 not A , for that one needs to look to Loonie weekly chart where also we are completing wave 5 , so on daily its gonna be wave 1 )
Now , coming to hourly , i feel we have completed wave 1 and wave 2 should begin now . I'll try to enter at this wave 2 correction for targets of 1.2050 .
here i am posting the Loonie hourly chart.

[durgesh147]

Few posts back , i had posted this Yen weekly chart where WPT nailed the exact day when it made a high. I even shorted it twice from hourly chart but made only 220 pipss while its falling like hell . it was such a big and fast fall .
I just managed to get a pie of it .:( But thats a part of the game .Atleast , i was on the right side of the market .;)

[durgesh147]

A goodlooking TS3 buysetup found in USDCAD chart.

Entry : 1.1565
Stop : 1.1546
Target : 1.1655

[KEPILOT]

Hi Durgesh,

Nice set-up finds.

Small request, couple of days back I had sent you an private e-mail, could you please make few minutes to review and reply.

Greatly appreciate your in-put.

Best Regards,

KE

[durgesh147]

Hi Durgesh,

Nice set-up finds.

Small request, couple of days back I had sent you an private e-mail, could you please make few minutes to review and reply.

Greatly appreciate your in-put.

Best Regards,

KE

Hello !!!

I din get ur mail .Maybe bcoz when i signed up here , i had chosen to get mails only from administrators.Anyways , you can maile me at durgesh147@yahoo.co.in

Lets see how can i help you ...

Regards ,

Durgesh

[durgesh147]

After using Elwave , Advanced Get and Dynamic Trader , i find MTPredictor the best for numerous reasons.
Elwave and Get continuously keep changing their counts .:eek:
To use Dynamic Trader , u gotta be an expert elliottician .:confused:
Here , MTP scores above all three popular elliott wave softwares.
Using the autosetups found by MTP , one can make lots of money.And you dont need to be an elliott wave expert with MTP.
Once you go through the pdfs written by Steve , MTP becomes easier to use.After all Steve has put his more than 17 years of experience in writing those user guides.He has covered every aspect of trading from money mangement to trade management.
My sincere thanks to the whole MTPredictor team !!!!

Here is what i have achieved with MTP , i started my forex trading with MTP three months back with 5000 USD and today my balance stands at 15000 USD.

Do you need more proof ? Look at the charts , i post here and also the followups. ;)

[durgesh147]

Time to look for sell setups on smaller timeframes.

[durgesh147]

Time to be bullish in this pair . start looking for buy setups on smaller timeframes.

[durgesh147]

TS1 buy setup found on hourly chart.

[durgesh147]

USDCAD : Long
Entry : 1.1614
Stop : 1.1503
Target : 1.2100

On the last page , i had posted Cad daily chart the same day it made a reversal calling for a probable end of wave 5 .

[durgesh147]

TS3 Sell setup found in EURJPY hourly chart.Remember the weekly chart i posted calling for a sharp reversal.

[ericd2281]

Durgesh,

What Forex broker do you currently use? I have seen advertisements for many different brokers but am unsure about what brokers are reputable.

Thanks,
Eric

[durgesh147]

Durgesh,

What Forex broker do you currently use? I have seen advertisements for many different brokers but am unsure about what brokers are reputable.

Thanks,
Eric

My broker is FXDD . You can choose between FXDD and FXSOL . Both are good and reliable .Moreover , go to www.fxstreet.com . they have a good comparison of all forex brokers . So u can decide , what you and who fits best !!!

Good luck !!!

[durgesh147]

TS1 Sell setup on hourly yielding handsome profits.I am trading it as a wave 3 ... bcoz on daily charts we are in wave 5.:p

[durgesh147]

Earlier i had posted the short setup which yielded 80 pips and now tim eto go long.TS1 buy setup found.But i gonaa trade it as wave C bcoz of the bearishness on higher timeframes.

MTP lets you play both ways.;)

[durgesh147]

Hello friends,
I had been thinking about this trade for a long time.I have been watching it from its signal day.This trade strengthens my belief that if you really wanna make big in trading, trade on higher timeframes.This not only gives mental peace but also big money.
I dunno anyone who made millions trading intraday.
Let me admit, i din take this trade.Just watched it as a 700 pip target seemed unbelievable.But here it is.
And wht can i say abt MTP ???
:cool:

[kumara_xl]

dear durgesh,
I see that you have managed to get 4hour charts into mtpredictor.may I know how you have done this?:confused:

[durgesh147]

dear durgesh,
I see that you have managed to get 4hour charts into mtpredictor.may I know how you have done this?:confused:

Well, i do it the same way as i do daily and hourly charts.I use an older version of MTP.I dunno about your version.Please contact the technical team and tell them your version and mention this problem.They'll help you out. :)

Good Luck !!!

[durgesh147]

TS1 Buy setup found and triggered.Lets see how this turns out to be.

[durgesh147]

well, i closed the Euro long for +9 pips as my trailing sl got hit.From the daily charts , i feel Euro shud go down to 1500 levels.

Well , look at this trade.The moment it triggered it slipped fast into 2 to 3 profit zone.

[durgesh147]

TS1 Buysetup found.Remember the hourly short setup i posted last in the same pair...I was short 3 lots there... one at 117.61 , other at 117.15 and third at 116.40 ....my trailing sl got hit giving me profit in all 3 lots amounting to 1600 USD . So, now my total balance stands at 18,301.39 USD.:)
I am having a good yearend.

[kumara_xl]

Dear durgesh,
I hope that you won't mind me asking you this,but how much did you start trading with and how long has it been,is it only forex and is it only with mtpredictor?Thank you and Merry Christmas and a happy new year.:)

[durgesh147]

Dear durgesh,
I hope that you won't mind me asking you this,but how much did you start trading with and how long has it been,is it only forex and is it only with mtpredictor?Thank you and Merry Christmas and a happy new year.:)
Hello frd !!!
I have answered all the questions in my previous posts but i'll do it once again for you.I started trading with 5k a/c since August.I trade only forex.I trade with MTP only.Sometime its setups and sometimes with the waves it finds.You know , first i demo traded in fx for nearabout six months and put all my tech analysis knowledge just to see my demo balance come back to zero ten times.:)

Then i learned one thing, the conventional indiacators are no good here.Then i tried many softwares like Elwave,AGet,Dynamic trader,Trading Solutions,Fibonaaci Trader etc.

With time, i realised the best way to trade fx is sthe elliott way.Then i read some good elliott books.I'll write them here in the order i read them.

- Fibonacci Applications and strategies for traders

- The major Works of R.N.Elliott by Robert prechter

-Dynamic trading by Robert miner

-Trading Chaos by Bill Willaims

Apart from these elliott books , i read some other good books.

- the Best trendline methods of Alan Andrews
- Reminiscences of a stock operator
-Street Smarts
-Hit and Run Trading

Right now , i am studying one more Elliott book ;

Dynamic Time and price Analysis of market trends by Bryce Gilmore.

You maybe surprised by the returns i tell but i am not .I have really worked hard and its paying off now.There is no easy money in trading. :)

[kumara_xl]

Thanks Durgesh.I really appreciate your help as a fellow trader.:D I think I'll start reading some elwave books too.:)

[durgesh147]

TS2 sell setup found on GBPJPY 1h.Potential profit target of 200 pips.
I closed my USDJPY long for handsome profit because i can see ABC short setup but the MTP doessn't find it.So, i thought it wise to book profit.

[durgesh147]

GBPJPY Followup : Stopped out there .

Here is an ideal TS3 sell setup.

Amidst thin volumes, markets dwindling to and fro.

[durgesh147]

I was short 3 lots in this pair. 2 lots at 1.1900 and one lot at 1.1904 . Guess what ??? It moved upto 1.1928 to test the stop and came down from there.Had it moved one more pip , i wud have lost 1000 dollars.But it din.:)

See my previous post , i had called it " Ideal setup " .
So , here is my new year gift to me.My balance stands at 20105.75 after i booked profit in one lot.2 lots still open and running.

[kumara_xl]

Dear durgesh,
I dont seem to understand how you say the hourly chart's high was 1.1928.As per my charts,provided by my broker GFT and Esignal,it shows that the hour's high was 1.1932.:confused: Sorry,I am unable to provide the charts here as they are too big for the forum.Would you care to explain this problem please?Thanks.BTW,congrats on your trading success.:D

[durgesh147]

Firstly, forex quotes differ from broker to broker by few pips.You are right, on FXDD also the high is 1.1932. Now, FXDD provides MT3 platform and i have problem tranferring data from FXDD to MTP , so i use SBFX platform for charting purposes.On SBFX , the high is 1.1928 and on FXDD the high is 1.1932 . I hope this makes things clear.

[durgesh147]

TS3 Buysetup found on Loonie.

[kumara_xl]

Sorry to disturb again but wouldn't that mean your stop got triggerred and you lost some 1000 dollars or so?:confused:

[durgesh147]

Sorry to disturb again but wouldn't that mean your stop got triggerred and you lost some 1000 dollars or so?:confused:

Sorry to say but u talk like idiots.When i say on FXDD the high is 1.1932 so where do you think me to put my stop ??? At 1.1929 or 1.1933 .

When i put my trades on FXDD , i adjust my stops and targets .
Next thing , when i am posting charts from SBFX , shud i be singing abt 1.1932 on other platform or 1.1928 on SBFX.Use some common sense., dude.

:D ;)

[kumara_xl]

ok.dont get all so cocky already.I'm just a new trader.that's why i didn't know these things.it's because of you old traders that young traders like me learn from.so chill.allright?:D

[durgesh147]

TS3 Sell setup found .

[ben_ike]

Sorry to say but u talk like idiots.When i say on FXDD the high is 1.1932 so where do you think me to put my stop ??? At 1.1929 or 1.1933 .

When i put my trades on FXDD , i adjust my stops and targets .
Next thing , when i am posting charts from SBFX , shud i be singing abt 1.1932 on other platform or 1.1928 on SBFX.Use some common sense., dude.

:D ;)


Hi Guys,

this is my first week on this board and i have just purchased MTP. If `name calling ` is a common feature of this board , then it contradicts and makes mockery of the Forum Etiquttes as posted by Matt Bowen .

http://www.mtptrader.com/showthread.php?t=16

"Our purpose is to share, help and support others.

Be respectful of others' opinions.

Allow your fellow members to voice their opinions WITHOUT CENSORSHIP

DO NOT deliberately start arguments. Debates are great, as long as they remain respectful!

Always try to "give" back to our community. For each time you find help or answers here, try to help someone else out in return. You may find that what goes around comes around...

Give people a little time to respond to your requests, Please be patient.

DO NOT just make a negative statement and leave the person hanging out to dry. Although you may consider yourself to be an "expert" now, try to remember that we were all new and learning once upon a time. Take it easy on your fellow members!

Do NOT make threats or implied threats towards other members -- even if you think it's fun."

So far,I think MTP is `brilliant` thanks to Steve,matt and tony.:)

[durgesh147]

First trade setup of 2006 . lets see how this one goes.

[durgesh147]

TS3 Sell setup found .
I closed my GBPJPY short trade at breakeven.Its moving sideways and GBPUSD being weak , there is no point holding long position in GBPJPY.

[durgesh147]

Stopped out in Cable long . First time, my trade setup failed before a major announcement.:(

[dctommy]

Durgesh:

I looked at GBPUSD on the daily and 540min & 720 min timeframes with
4x made easy this morning and found huge upward buying pressure. This
is why I was surprised to see you got a 1hr reversal setup short.

I setup buy triggers and stops long using R/R in MTP EOD. I will let you
know how it turns out.


dctommy:)

[durgesh147]

Well...not to mention that i got stopped out in Cable short.Lost abt 50 pips that too on 2 lots.:(
So the new year started with a loss.Now the point was, if its not Wave C then definitely its wave 3.I wanted to stop reverse but the stop was very very big and not to my liking.So, i waited on smaller timeframe and luckily i got a buy setup which not only made up my loss but added a couple hundred. :p

[durgesh147]

The trade that took my balance to 25k .

[durgesh147]

This trade was real good.

[durgesh147]

I spotted this TS3 setup but MTP din confirm it.So, i din trade it but was curious to know if i was right.Just look at this ideal setup.I just dunno why the software din pick it up.:(

[durgesh147]

Look at this TS1 sell setup on daily chart.The downside is real big.I missed it.:(
Few pages back, i had posted the EURJPY weekly chart calling for downside target of 128 and here i am .Missing it.:(

[durgesh147]

TS1 sell setup found and guess wht .... i din miss thiss one like that EUPPY.
I am planning to trade it as a wave 3. Lets see how this one goes.

[Steve Griffiths]

Hi Durgesh,

Nice to see you are in another great trade.......... well done !

Steve

[durgesh147]

TS2 buy setup found on the daily chart.Its also bouncing off the trendline.

[jtrade]

Hi. durgersh147 - nice TS2 setup on the daily USDJPY.

Did the software find this automatically & if so what data are you using, please ? I have TS8 which is not showing the setup (I can pull up the chart in MTP EOD & use the new Advanced ABC tool to draw the correction, but as no setup is shown the R/R numbers won't come up).

Thanks,

J.

[Steve Griffiths]

Hi J,

It looks like Durgesh has used the Major settings to find this TS2 set-up.

You can do the same in the EOD program, or you could add the profit targets "manually", as I have covered in the monthly trainning video seminars in the member section of the web site.

As such, there are several wasy to get the projected profit targets on this particular set-ups and then add the R/R analysis.

I hope this helps ?

Steve

[jtrade]

Thanks, Steve - that sorted it - it's time for me to review the videos !
Is there a short answer to why the TS8 eld default is set to "ShowMajorSetup - false" ?

J.

[Steve Griffiths]

Hi J,

Yes, to avoid confusion, the default is to just display the Intermediate degree set-ups in the eld's as these are the best ones to focus on.

Thanks

Steve

[durgesh147]

TS3 Buy setup found.

[durgesh147]

Look at the daily and weekly charts.Remember the bull setup on USDJPY ?
Now the question is : Are Dollar Bulls Back ? If they are , then MTP beats all those analysts who are bearish on dollar. :)

[durgesh147]

Hi Steve !!!

I need ur opinion on the TS3. I am long 2 lots from TS1 and bought 2 more at this TS3. Now the point is , you recommend using Max Wave C WPT in TS1 only, i wanna know , did i do right using the Max WPT in this TS3 given the fact that from daily charts we are heading for 122+ .

Looking forward to ur guidance and advice ...

Durgesh

[Steve Griffiths]

Hi Durgesh,

No, as outlined in the Trading Course, you should only use the max Wave C in a TS1 set-up.

Also I would suggets caution when "pyramiding", I have covered this in this month's video seminar. Here I suggest keeping a close eye on your overall risk and making sure if your whole "campaign" does not go as anticipated that your overall risk is always kept under control.

I hope this helps ?

Steve

[durgesh147]

TS3 Buy setup found and triggered.

[durgesh147]

hi Frds !!!

http://programmingschool.net/sos/

plz visit this link and fwd this link to all the ppl in ur messenger list.

thanks,

Durgesh

[durgesh147]

Yesterday i spotted this manual ABC and could not resist taking this trade bcoz the risk is abt 35 pips and the minimum profit potential is 300 pips.
Lets see how this one goes.

[durgesh147]

This is my manual analysis on EURUSD using the tools available in MTP .
This also confirms one more rally in Dollar.

[durgesh147]

TS1 buy setup found on hourly chart.

[durgesh147]

Look at this TS3 sell setup. Falling freely . I am not into this trade but certainly i will look for sell setups on smaller timeframes.Right now, i have open trades in three currency pairs ... GBPCHF,GBPJPY and USDJPY . All trades on long side .I have sell stop order in EURUSD.

[durgesh147]

Look at my manual ABC setup . Its really rocking. :D

[durgesh147]

When i clicked on the find elliott waves module, MTP came out with a well completed wave 4 of intermediate degree.I put my own labellings to complete the picture.So, here again we get a bullish picture on Dollar. From Saxobank to Citibank , all the big boys are bearish on dollar.Lets see.

[Angel]

Hi Durgesh147, Hi all

Sorry to ask you this type of question but would you mind me to tell us :

1) What are exactly the Forex pairs you are trading ?

2) You use 60 mn and 240 mn chart in your End of Day version too, so what is your forex data provider ?

Thanks for your attention

Have a good trading all :)

Angel

[durgesh147]

Hi Angel ,

The pairs i watch and trade are EURUSD, GBPUSD,USDCHF,USDCAD,USDJPY,EURJPY,GBPJPY. Earlier i was watching this AUDUSD AND GBPCHF.But these crosses r pains.Going nowhere.

As far as data is concerned, i use Sbfx data.

Hope this helps,

Durgesh

[Angel]

Hi Durgesh147, Hi all,

THANKS, it's very kind of you :)

Have a good trading all

Rgrds

Angel

[Sejake]

As far as data is concerned, i use Sbfx data.

Durgesh147,

Sorry to bother, I've tried a google search and can't seem to come up with a link for sbfx.
Do you have a link that could point me in the right direction?

Thanks,

[durgesh147]

www.strategybuilderfx.com

Download their demo platform and use that data .Their data is reliable.

[Sejake]

www.strategybuilderfx.com

Download their demo platform and use that data .Their data is reliable.


Durgesh, thanks, I see now that I can export data from MT4 as well.
Just to confirm this will work in MTP on all time frames?

Regards,
Sejake

[durgesh147]

Sure , it'll work on all timeframes .

[Angel]

Hi Guys,

Great news !!!

Should I download MT3 or MT4 and is it really so easy to import data from MT3/4 to MTPredictor ?

Thanks for your attention,

Rgrds

Angel

[34107]

Hi durgesh147,

Thanks for all the info. I have some questions and would appreciate your answer.

1. Do you use RT also, or you only use EOD?

2. If you use EOD, does that mean data need to be imported to MTP every hour or other timeframes that you actually trade?

3. Do you have to baby sit all day? I studied the manu part1 and looks like the exit strategy requres us to follow the market therefore we have to stare at the screen all the time. Please tell me if I'm wrong. And how about the trades happened at night? How to move the stop as you are sleeping?

4. When do you trade during the day? And how often does MTP give trading signal? I can trade american session but will have to stay up if I have to follow the trade.

Thanks again!

[Angel]

Hi Durgesh147, Hi 34107,

Just for adding :

1) Durgesh147, ho do you manage your trades because it seems that you don't follow the MTPredictor's guideline ? For example, your post #81 on GBP/JPY showed that you DON't move your stop at break even when prices reach the "100% initial Risk".

Thanks

Rgrds

Angel

[Sejake]

Durgesh, thanks for the data info. Because of that I'm now a MTP user. It's a bit of a pain updating manually, but much better than spending all that money on delayed data from Genesis.
This works great and I was able to get a nice Aussie trade not long after I installed program yesterday.

Regards, Sejake

[durgesh147]

Hi Durgesh147, Hi 34107,

Just for adding :

1) Durgesh147, ho do you manage your trades because it seems that you don't follow the MTPredictor's guideline ? For example, your post #81 on GBP/JPY showed that you DON't move your stop at break even when prices reach the "100% initial Risk".

Thanks

Rgrds

Angel

Hi !!!
Well it all depends on how you look at your trade.Normally i dont follow the guidelines. if i get dobtful abt a trade , i just close it.Out of the last 10 trades, i got my sl taken in only one trade.USDJPY long but then i am again long in it.
How do i trade ? first i look at the bigger picture in daily and weekly charts.Then i take setups from 1h and 4h in the same direction.
We all r different .follow ur style that u r comfortable with.

Regards
Durgesh

[Angel]

Hi Sejake,

Infortunatly, my MT4 skills are far as good as yours.

It would be so kind of you to tell me step by step how to save data file in MT4 and in what format ?

Thanks

Rgrds

Angel

[mascurioso]

Great info everyone. Thanks.

Just to be clear, you're saying that MT3/MT4 data can be imported into MTP? How? Is the MT data in Metastock format or something?

Thanks,

Mas

[durgesh147]

Hi durgesh147,

Thanks for all the info. I have some questions and would appreciate your answer.

1. Do you use RT also, or you only use EOD?

2. If you use EOD, does that mean data need to be imported to MTP every hour or other timeframes that you actually trade?

3. Do you have to baby sit all day? I studied the manu part1 and looks like the exit strategy requres us to follow the market therefore we have to stare at the screen all the time. Please tell me if I'm wrong. And how about the trades happened at night? How to move the stop as you are sleeping?

4. When do you trade during the day? And how often does MTP give trading signal? I can trade american session but will have to stay up if I have to follow the trade.

Thanks again!

Hi !!!
I have both versions.Rt and EOD but i use EOD.
Well , now i am so trained that i can spot ABCs on a graph.Then all i do is just check it out with MTP.Earlier i had to do the data transferring every hour.Somethings come with experience.
Well , i am a full time trader but i dont sit all day.
Well , i normally start in European session and i am there till half American session.
Now, how often you get signals depends on ur timeframes.
Here, i'll share my experience with you regarding timeframes.
On 1h setups, the targets are abt 100+ pips and stops abt 30.Target achieved in a day or two.
On 4h charts , the stops are abt 100 pips and targets abt 300+ pips .Target achieved in a week.
on daily, the stops are 100 + pips and targets range from 500 to 1000 pips.it takes abt 15 days to achieve target.
On weekly, the stops are 100+ pips , targets are abt 1000 pips.Time taken is abt 4 to 6 months.

Now it all depends on person to person that wht timeframe u trade and how patient u are.

Hope, this helps.

Regards

Durgesh
On 4h charts

[durgesh147]

A sell setup might unfold here ....i am just waiting for it to bang it short.

[34107]

durgesh,

That helps a lot! Thanks!

Does MTP give several entries everyday on 1h & 4h time frames on those pairs you trade ?

[durgesh147]

Here is my manual TS2 buy setup. I have taken this trade.letss see how it goes.

[Sejake]

Hi Sejake,

Infortunatly, my MT4 skills are far as good as yours.

It would be so kind of you to tell me step by step how to save data file in MT4 and in what format ?

Thanks

Rgrds

Angel

Angel, You can email me @ sejake@yahoo.ca or Yahoo messenger me @ sejake for details.

Sejake

[Sejake]

Another possible auzzie trade in the works.

[durgesh147]

TS3 sell setup found.Moreover , looks like the dollar bulls are back.Booked profit in EURJPY...carrying forward USDJPY and sell stop order in GBPUSD.

[durgesh147]

TS3 Sell setup found.

[durgesh147]

TS1 buy setup found and triggered.

[tombtrader]

Hi Durgesh147, you catch some nice trades. Would you mind sharing how you find them? Do you have anumber of different timeframes of each pair you look at, up?

TIA

[durgesh147]

Hi Durgesh147, you catch some nice trades. Would you mind sharing how you find them? Do you have anumber of different timeframes of each pair you look at, up?

TIA
Hi !!!
I look at just 3 timeframes ... hourly , 4 hourly and daily.

[durgesh147]

I expect Dollar to strengthen next week onwards.

[gixzilla]

Hey Durgesh:

I enjoy seeing your forex setups, which makes me like MTP more than other programs out there.Just wondered if you find setups happen around the openings of the different time zones.

Thanks! gixzilla

[durgesh147]

I got stopped out in USDJPY short .i had a stop and reverse order in it also.So, right now i have a long in it.

Will this TS3 on daily trigger today ? I can see a TS1 sell setup unfolding on hourly charts.Will post it here when confirmed.

[durgesh147]

Very good TS2 buy setup missed .

[durgesh147]

Here is the TS1 sell setup i was expecting.Needless to say , it shud be traded as wave 3 bcoz of the TS3 sell setup on Daily charts.

[Angel]

Hi Durgesh147,

How do i trade ? first i look at the bigger picture in daily and weekly charts.Then i take setups from 1h and 4h in the same direction.



1) What do you do if a set up unfolds in the opposite direction of its higher time frame set-up : for example, for a sell set-up on 4h did you take a buy set up on 1h ?

2) For others pairs where none daily/weekly set-ups are unfolding, in this case do you take ALL the set-ups (buy and sell) ?

Thanks

Rgrds

Angel

[AlanD]

This is just my observation and I haven't recorded any metrics to back this up but it seems that due to the nature in which the FOREX works well with technical analysis and is not vulnerable to certain market influences one would experience with stocks, options and some futures that MTP is better suited toward trading FOREX than other markets. Meaning that setups will tend to work better and more often with FOREX than say an equity stock or even with eminis to some extent.

Putting aside volatility due to fundamental report releases, it seems that several of the postings to this bulletin board providing setups have worked out well.

I'm just curious if that is the observation others are getting as well?

Alan

[durgesh147]

Hi Durgesh147,




1) What do you do if a set up unfolds in the opposite direction of its higher time frame set-up : for example, for a sell set-up on 4h did you take a buy set up on 1h ?

2) For others pairs where none daily/weekly set-ups are unfolding, in this case do you take ALL the set-ups (buy and sell) ?

Thanks

Rgrds

Angel

Hi !!!

Suppose i am short from a 4h setup , the target is away and suddenly i get a buy setup on hourly , in this case the first thing i do is close my short.And then depending upon the higher timeframes, i may well decide to take that buy on hourly or pass it.Normally i just close my position and sit aside for a while.

As far as daily and weekly charts are concerned , i am not just concerned abt a setup there.If there is no setup, i look for the present wave we are in and then look at the target of that wave.For example, right now i have a short position in Cable from daily setups.I'll let it run and when i get another sell setup on hourly charts, i'll take them too , adding more to my positions.

Well , we all are different and we trade differently.Its you who has to find out what works for you and what you are comfortable with.There are times , when i close my trades prematurely out of fear.After all , we all are human.

[Angel]

Hi Durgesh147,

Many thanks for your reply, ti's very kind of you :)

Just for cheking if I well all understood.......

1) If there are elligible step-ups on Daily/weekly charts, you take hourly set-ups in the SAME direction.

2) if there aren't elligible set-ups on Daily/weekly charts, you manage your daily positions and get another hourly set-ups in the same direction adding more to your daily position : that's all !

In fact Daily and Weekly charts are MASTER charts so you enter trades ONLY in the SAME Daily/weekly charts direction. By that I mean that You don't enter a hourly trades if a daily/weekly chart haven't give you where a direction to go : am I right ?

Thanks

Rgrds,

Angel

[Sejake]

Durgesh, just curious how this worked out for you?
Pretty nice trade, although it did breach the stop line by a couple pips.

BTW anyone know if there is a way to show the titles in the coloured waypoints...for example typical wave 3, typical wave c? Or have these been totally removed?

Thanks...Sejake

[durgesh147]

Sejake !

I got stopped out on that hourly sell setup.Then there was a sell setup from daily charts.So, now i m short from the daily chart.I think i have posted that daily sell setup.

[durgesh147]

TS3 buy setup found.Looks good.

[durgesh147]

TS3 sell setup found.

[Sejake]

Thanks Durgesh for the update, I remember the GBP daily post .

G/L

[durgesh147]

The central bank boosts short-term rates a quarter-point. But it signals it will jump on inflation if needed, and stocks move lower. Oil falls as OPEC declines to cut production.
In Alan Greenspan's last meeting as Federal Reserve chairman, the nation's central bank boosted its short-term interest rates a quarter percentage point today.

The Fed's Federal Open Market Committee voted to raise its federal funds rate -- what banks charge each other for overnight loans from 4.25% to 4.5%. The Fed also raised its discount rate -- what Federal Reserve banks charge for short-term loans -- a quarter percentage point to 5.5%. It had been 5.25%.

The rate increase -- the 14th straight increase dating back to June 2004 -- will boost rates on bank loans, credit cards and other financial instruments.

Greenspan steps down as Fed chairman at the end of the day, after more than 18 years on the job. He will be succeeded by Ben Bernanke, who is expected to win Senate confirmation as Fed chairman this afternoon.

Significantly, the Fed signaled it might be reluctant to raise rates rapidly. While the Fed said that "possible increases in resource utilization as well as elevated energy prices have the potential to add to inflation pressures," the FOMC will respond to changes in economic prospects as needed.

In the 13 prior rate increases, the Fed said it would continue to raise its rates at a measure pace. Rates had been cut to 1% to help the economy weather the stock market bust of 2000 and the after-effects of the Sept. 11, 2001 terror attacks.

Investors have been expecting possibly one more rate increase at the Fed's March 28 meeting, the first under Bernanke's leadership. The odds of additional rate increases after that are considered to be low.


The Fed's moves -- designed to prevent an outbreak of inflation -- have boosted short-term rates substantially. The yield on the 13-week Treasury bill has jumped from 1.352% in June 2004 to 4.357% today.

Longer-term rates have reacted much more grudgingly. The yield on the 10-year Treasury note is actually lower than it was as the Fed started its rate increases -- 4.519%, compared with 4.695% on June 29, 2004. That has allowed the housing market nationally to continue to be strong overall. Mortgage rates have been relatively flat for more than a year.

[durgesh147]

This TS1 buy setup is already in Tpical Wace C zone . I expect it to be wave 3 .Lets see wht happens.

[durgesh147]

TS1 Sell setup found.Looking to trade it as Wave C only.

[durgesh147]

TS3 sell setup found and triggered.

[34107]

durgesh,

Is there any particular reason that you don't use RT?

Is there any free data for EOD or RT for trading US stock market? Sorry if this question is a bit off topic but thought you may have the answer.

Thanks & good trading

[durgesh147]

durgesh,

Is there any particular reason that you don't use RT?

Is there any free data for EOD or RT for trading US stock market? Sorry if this question is a bit off topic but thought you may have the answer.

Thanks & good trading

For EOD you can get US stocks data from yahoo for free.

[34107]

durgesh,

Thanks for your input!

I'm curious to know why you don't use RT.

Good trading!

[durgesh147]

Manual TS2 found.

[Batchboy]

I'm really impressed by this software and seriously considering buying. Can you tell me Durgesh if this EOD version is quite sufficient for forex? What % of trades would you say your getting wins with (as opposed to hitting the stops). Do the risk reward figures on screen seem to be true for hitting targets or stops?

To have and use their EOD datafeed software I understand you get that with RT version free, so even if your not using RT you bought it for EOD datafeed?

jerry

[Steve Griffiths]

Hi Jerry,

It is the other way round...... you get EOD free when you purcahse the RT bundle that includes the eSignal efs's and/or the TradeStation eld's

I hope this helps ?

Please email Sales@MTPredictor.com or Matt@MTPredictor.com for more info....

Steve

[durgesh147]

TS3 BUY set found.

[durgesh147]

Stopped out in EURAUD.:(

[durgesh147]

TS1 sell setup unfolding in USDCAD. Looking to take short position at 1.1522

[durgesh147]

Looks like wave 4 is finally complete.

[durgesh147]

I am watching this manual setup for the past two days.I dunno why MTP doesnt find it automatically.Everything looks right abt it.:confused:

[timo4sho]

Hi durgesh,

I am about subscribe to Genesis for my futures data, and now you mentioned:

"I use MTP EOD for all my analysis.As far as the data is concerned, i get it from Alpari for free."


How exactly do you do this? Could you explain?


Thanks a lot!

[durgesh147]

Hi durgesh,

I am about subscribe to Genesis for my futures data, and now you mentioned:

"I use MTP EOD for all my analysis.As far as the data is concerned, i get it from Alpari for free."


How exactly do you do this? Could you explain?


Thanks a lot!

Hi !!!

When i look at a chart, and i feel there is an ABC setup... then i put that data into MTP EOD to verify it.Its that simple.I am not updating the data bar by bar.
I dunno abt ur needs.

[mrkam]

Do any of you use the MTP Risk/Reward calculator or module for 4X? If so, any hints, or what are your "tick/unit" values for the pairs?? I think Steve recommends NOT using it, but rather doing the calculation manually, or with the help of an online calculator....

thanks.....

[Steve Griffiths]

Hi Durgesh,

To answer your question on the EUR/JPY set-up. The automatic routines did not find this because the pivots created (on this example) did not meet the criteria for an automatic set-up.

This is where an experienced user like yourself can use the additional modules in the software to uncover additional set-ups like this.

This is where MTPredictor is far far more powerful than just an automatic balck-box that spits out automatic trades :)

I hope this helps ?

Steve Griffiths
Developer of the MTPredictor software

[Steve Griffiths]

Hi,

http://aboutforex.com/pipvalue.html

will help you in your cacualtions for Forex.

I hope this helps ?

Steve

[Sejake]

Hi, just to follow up on Eur/Jpy. I know Durgesh was watching this as well and had a very similar analysis as we were discussing it on another forum. Here's some of the manual analysis we were working on that has worked out quite well.

[mike12]

the EURJPY setup was catched automatically on the 12 hour chart

http://img113.imageshack.us/img113/1437/screenhunter0047sa.jpg (http://imageshack.us)

[mrkam]

What hours do you all trade, considering this is a 24hr market?? Are there what could be considered "sessions" for Europe/USA, or both??

I live on the west coast USA and am curious....

thanks!

[AlanD]

MrKam,

I'm here in Hawaii and take most of my trades between 2100:00 HST/2300 PST and 0700 HST/ 0900 PST. I don't stay up all night. I will normally look at the 15 to 60 min charts for setups. If I want to hold one overnight, I naturally take longer timeframe setups. Seems the market move the most during those times. Time permitting, I may take trades outside of those times like when I get home from work but then I'm looking at 5 to 30min charts and only looking for 10 - 20 PIP trades. The 50 to 130 PIP runs usually occur between 0300 to 0600 HST or 0600 to 0900 PST if your in California. Hope that helps.

Alan

[timo4sho]

Hi Durgesh,

I guess you misunderstood my question. I wanted to know how you get your futures data from alpari for free? How exactly do you set this up? Can I also get their data for free without having an account with them?

[durgesh147]

I feel this pair is headed up to complete wave E of Intermediate degree and wave 4 of Major.I feel so bcoz of the slow stochastic and the lower trendline.MTP is very good at finding these ABCDE patterns.And i just love to trade them .Trading at the end of these E patterns has very high success rate and very good profit potential.I'll post some charts here covering those patterns when i come across.

[durgesh147]

Hi Durgesh,

I guess you misunderstood my question. I wanted to know how you get your futures data from alpari for free? How exactly do you set this up? Can I also get their data for free without having an account with them?

Hi !!!
you too can get their futures data for free.just download their MT4 platform and open a demo a/c with them. its just as simple as that.

www.alpari-idc.com

[timo4sho]

HI durgesh,

I followed your steps:

"you too can get their futures data for free.just download their MT4 platform and open a demo a/c with them. its just as simple as that.

www.alpari-idc.com"


But I seem to only get FOREX data and no futures data! Could you help me?

[durgesh147]

TS3 Buy setup found in EURUSD 1 H.

[durgesh147]

TS1 Sell in EUPPY.

[durgesh147]

Manual TS1 sell.

[durgesh147]

After getting stopped out initially, its Euro again.

[durgesh147]

Some manual work on Cable.:D

[superluz]

Hi to everyone,

A question for Steve:

How hard would it be to re-implement the .eld file of the Tradestation into an expert adviser for Metatrader 4 following exactly your strictly "Trading Guidelines"?

I think a lot of people around here would love to trade forex having an automated system what would work 24 hours a day (for you) by strictly following your rules and having a high risk control.

Maybe just a dream…..:rolleyes:

Claudio

[Steve Griffiths]

Do you have more info on "Metatrader", a web site for example ?

Thanks

[superluz]

Hi Steve

The language:
http://www.metaquotes.net/experts/mql4

Example of platform which use such language:
http://www.strategybuilderfx.com/platform.php/

Thanks
Claudio

[Steve Griffiths]

I see them now :-)

I see they can "export automaticaly" into Metastock ( realtime data export to Metastock), so you should be able to use this feature once we have our new module working for Metastock.

Thanks

Steve

[superluz]

But then I would need Metastock.

My question was about something like this:
http://www.metaquotes.net/experts/samples/

An Expert Advisor written in MQL4 completely independent from the platform used.

Thanks
Claudio

[durgesh147]

Hello friends !!!
Today i had an upgrade to the latest version MTPredictor EOD 5.0 :)
I was backtesting its new Advanced Wave C module on EURUSD Daily chart and guess what :D Its just awesome.

[durgesh147]

I am ready for my first trade with the new version.its gonna be GBPCHF.I'll surely have an eye on it next week.A potential short candidate.

[durgesh147]

Here is a good looking TS1 buy setup with a good R:R ratio .

[durgesh147]

Advanced Wave C sell setup of minor degree

[mike12]

Here is a good looking TS1 buy setup with a good R:R ratio .


trigger fired and then it went down to hit the stop

[durgesh147]

Hi Mike !!!

It din trigger on my platform.You can check it here.

[durgesh147]

High of the blue bar was 117.14 .

[durgesh147]

I got up late this morning.When i opened my platform, GBPUSD was triggered and USDJPY wasn't .

[mike12]

Hi Mike !!!

It din trigger on my platform.You can check it here.


how it didn't trigger, you have an entry point of 117.09 and the high was 117.14

[mike12]

Hi Mike !!!

It din trigger on my platform.You can check it here.


how it didn't trigger, you have an entry point of 117.09 and the high was 117.14

[mike12]

Advanced Wave C sell setup of minor degree


also stop was hit, a 120 pips loss

[mike12]

I got up late this morning.When i opened my platform, GBPUSD was triggered and USDJPY wasn't .


also stop was hit, a 120 pips loss

[durgesh147]

also stop was hit, a 120 pips loss

yes !!! it was hit as well .

[mike12]

yes !!! it was hit as well .


yes, the high of the day is 1.7561, or maybe your platform has a different quote :)

[durgesh147]

TS3 buy setup found.

[Angel]

Hi all,

On daily time frame...

GBPGPY TS3 buy setup :
Entry : 203.42
Stop : 201.66

On 4 hours time frame......

AUDUSD Advanced sell set-up :
Stop : 0.7438
Entry : 0.7418

Have a good trading day all,

Cheers

Angel

[durgesh147]

Advanced Wave C sell setup triggered.

[durgesh147]

Advanced Wave C sell setup found.

[durgesh147]

After a sell setup on Daily, there is a sell setup on hourly as well.

[durgesh147]

Good Looking Manual ABC.

[durgesh147]

This pair has declined nicely into Wave 3 WPT showing profit of 5x the initial risk.

[durgesh147]

When Mr Gann and Fib cluster together with Mr CCI diverging bullishly, its time to book profits.:)

[durgesh147]

Same thing here but this time , its Mr RSI forming inverse head and shoulder.Many posts back, i had wriiten its time to book profits in Cable.I din draw the trendline to mess things up.:p

[durgesh147]

Once again, MR Gann and Mr Fib align together.Lets see when it reaches there, wht signals do Mr RSI / CCI provide ?

[durgesh147]

Mr Loonie is running south for many years in a row and still showing no signs of exhaustion.I am impressed, Mr Loonie !!!:D

[durgesh147]

Mr Pound floating freely with Miss Swissy.:rolleyes:

[mike12]

Mr Loonie is running south for many years in a row and still showing no signs of exhaustion.I am impressed, Mr Loonie !!!:D


this setup had a bad R/R ratio of 1.6

[mike12]

Mr Pound floating freely with Miss Swissy.:rolleyes:

this is an abcde setup not an abc on the old MTP version, I don't know why the new software is showing it as abc !
I noticed that all the abcde setups on the old MTP are now abc !!

http://img319.imageshack.us/img319/7941/screenhunter0259fb.jpg (http://imageshack.us)

[durgesh147]

Some corrections are 3 swing corrections like a simple ABC and some corrections are five swing corrections like ABCDE.The older version catches only the 3 swing corrections in its automatic routines while the latest version catches both types of corrections.

Well, according to me this is the difference between the two versions.For more details, contact Steve.

As far as the R:R ratio is concerned, let me say... a trade can have R:R ratio of 18 and stop you out.Moreover, as far as my experience goes, on daily charts, the MTP setups have a success rate of more than 80 %. Better do some labour and find it out urself.

There is a unique relationship between Crude and Mr Loonie.Both are two banks of a river.As long as Crude goes up, Mr loonie will be busy running south.So,please dont disturb Mr Loonie.Crude is expected to touch 78 dollars pretty soon and in some years maybe, it'll cross 100 dollars.So, dont talk R:R with Mr Loonie.He feels bad.

Until and unless a trade is closed. There is no risk, there is no reward.

Hope this helps !!!

[durgesh147]

MR Pound is showing weakness across the board.The Harrier is not flying well.:D

[durgesh147]

The previous GBPJPY setup was stopped out.

[durgesh147]

EURAUD cooling off at the Wave 1 or A WPT.

[durgesh147]

Hi Steve !!!

I have a query.Do we use Max Wave C WPTs in Advanced Wave C setups?

Thanks,
Durgesh

[durgesh147]

After giving a handsome profit, Mr Loonie is headed for 1.1700 levels.

[durgesh147]

Action begins in Cable.

[durgesh147]

TS3 sell triggered in GBPCHF.

[NHN123]

TS3 sell triggered in GBPCHF.
Hi Durgesh,

You uncover some great trades using MTP on FX.

I do not get these trades automatically; I wanted to ask you whether you find most of these trades yourself? Or whether it may be that your charts session times are different, which would make a difference I guess. e.g. All my FX session start at 10pm GMT sunday night, and end at 9:59pm each night.... so the 4/12/daily charts, may have different start/end times, and, therefore different Open High Low Close... you get the idea....

I think I know the answer already (you put a lot of time and expertise into finding these set ups yourself), but thought I'd check anyway.

Thanks in advance

[durgesh147]

TS1 Sell triggered.

[durgesh147]

Hi !!!

I think my chart time starts from 12am gmt to 11:59pm gmt for daily bars.

Durgesh

Hi Durgesh,

You uncover some great trades using MTP on FX.

I do not get these trades automatically; I wanted to ask you whether you find most of these trades yourself? Or whether it may be that your charts session times are different, which would make a difference I guess. e.g. All my FX session start at 10pm GMT sunday night, and end at 9:59pm each night.... so the 4/12/daily charts, may have different start/end times, and, therefore different Open High Low Close... you get the idea....

I think I know the answer already (you put a lot of time and expertise into finding these set ups yourself), but thought I'd check anyway.

Thanks in advance

[kumara_xl]

congrats durgesh on your trading success so far.Great to know you're doing well.god blesses u man!:D anyway,i just wanted to ask,i'm a new beginner in forex and am not sure whether to use ur style of looking for patterns constantly or go with esignal add on by MTP until i become pro.Please advice.also since your in north(india),was wondering if you traded only in indian daytime or you stay overnight(indian time)?Thanks and congrats again.

[durgesh147]

Thanks, man!!!

As far as my experience goes, you'll find most of the setups around European session .After the mid US session..markets hibernate... and Tokyo session, i am always sleeping.

Just see, whts best for you.Now i am concentrating more on Daily charts and somewht on 4h charts.I just want 500 pips a month and i am getting more than that.

I forgot to tell you all that now my a/c is well over 50k.:)

Hope the same type of success for all of you, maybe better than that.

Thanks again to Steve and the MTPredictor team.:)

[NHN123]

Hi !!!

I think my chart time starts from 12am gmt to 11:59pm gmt for daily bars.

Durgesh

Thanks, Durgesh. I will change my charts.

Congrats, by the way. There is hope for all of us!

[Angel]

Hi Durgesh147,

CONGRATULATION !!!!!!

You are success trader man.

1) How many daily and hourly trades for 8 month ?
2) May be one day, you will post your statistical report ?

Thanks,

Have a good trading all,

Cheers

Angel

[durgesh147]

Action Oriented and Winning

Trading isn't easy. Indeed, the odds are against you. But if you succumb to hopelessness, you'll never become a winning trader. You have two choices: You can wallow in self-pity or you can take action and do whatever it takes to win.

Depending on your personal background, a host of obstacles can prevent you from trading the markets successfully. Unless you are extremely wealthy, for example, you need to find a way to build up capital to realistically make enough profits to support yourself and survive the ever-changing markets. No one is a natural born trader; like all professions, you have to learn to trade. You need to find good training and take the time to learn how to trade. But knowledge by itself doesn't ensure success. You have to hone your skills to trade profitably. There's also a psychological aspect to trading that can't be ignored. You have to learn to accept risk, take losses in stride, and pick yourself up fast when you feel beaten down.
Do you think the list of obstacles is too long? It may be long, but the action oriented positive thinker doesn't care how long the list is, he or she spends every waking moment trying to figure out a wait to shorten it. In his book, "A Strategy for Daily Living," trading expert Dr. Ari Kiev notes, "A successful life does not result from chance, fate, or good fortune, but from a succession of successful days lived in pursuit of a worthy pursuit." Dr. Kiev points out that you can work toward your goal every day, day after day, and eventually even the most elusive goal can be achieved. Perhaps you will make more progress on some days than others, but what is most important is that you never give up and spend every day working toward your goal.
Many traders make the mistake by thinking they need to be an overnight success. When they trade week after week, month after month, and don't achieve the profit goals they set, they start to become disappointed. Instead, they should remember that not everyone can learn to trade over night. It takes time and the right set of circumstances. For instance, it is much easier to learn to trade in a bull market rather than a bear market. If you want to make it in the end, you have to work at it every day. Do whatever you can to make steady progress toward your goal. Learn about trading strategies. Paper trade to get a feel for the markets. Work every day and take positive steps. Whatever you do, however, don't give up. Don't stagnate. Take positive action and find solutions to problems. If you stick with it, you can learn to master the markets, and end up a winner.

[mrkam]

Hi Durgesh... I too would like to chime in and thank you for your involvement in this forum. Forex is a great application for MTP (well, at least 30 min and higher!!), and your examples teach us all and help us get beyond some of those obstacles you refer to!!

And, to "pick your brain" one more time.... do you stick to the same position sizing/risk mgmt per MTP guidelines? (i.e., 2% risk per trade, so for your 50K account, you would risk only $1,000 in any one trade, based on the MTP bars entry/stop points?) Also, I find that most of the forex trades I find are first identified by personal observation, then use MTP to analyze, (WTP, reversal bars, manual/advanced ABC, show elliot waves, and maybe some manual fib level/confluence analysis.....). In that case, do you "require" the standard MTP entry indicators? (colored reversal bar AT a WTP, then price above colored bar point + a pip or two??)

We all LOVE to hear how you think and work!!!

thanks,

MK

[durgesh147]

Hi !!!
For trade entry, i strictly follow the MTP guidelines...like price shud be at a WPT, coloured reversal bar and then enter above/below the high/low of the bar.When once in a trade, i look for opportunities to first place my stop at breakeven and then leave the trade to its target.

If i am trading daily charts, i look at 4 h charts to get a feel that all's well.If i get divergences on 4h chart,i'll close the trade.Better bank ur profit.

Well, i think we all r alike in trade entry but whr we all differ is trade management.There is no hard and fast rule abt the trade managemnt that i can tell you.

As far as risk/trade is concerned, i think i use abt 4 to 5% per trade.As the balance is big now, i'll look to cut onto it.I always looked at the stops in matter of pips... like if a trade has a sl of 120 pips...on one 1 standard lot ...i'll lose 1200 usd abt...so on a 20k a/c size... i trade one standard lot per trade and a maximum of 3 trades at a time...once i get to place my stops at breakeven... i can open new trades...

i think you get the idea from all this... once again...i'll say there is all abt comfort.. if i dont feel comfortable in a trade.. i just close it...

sometimes i find setups with oscillators showing divergences... so i go abt them without any doubt of getting my stop hit...

well... i tried to answer you how i manage my trades... but once again i'll say..there is no hard and fast rule i follow... except that how comfortable i feel abt a setup...

one more thing, i am still learning how to go abt managing the trades... every closed trade teaches me something...wht i did wrong... wht i did right...wht i cud have done better...

to sum it up, trading is an ongoing learning process... lets learn from the Master ( Steve ) himself....

Cheers!!!

[durgesh147]

A potential TS3 buy setup unfolding in Cable.Since, the last bar is not complete yet, i'll wait till morning and see how this setup stands after the completion of the last bar.

[durgesh147]

As you can see this trade is triggered.I am long one lot, so as not to miss the bus.Since its overbought on hourly, i shall be looking for a buy setup on hourly charts .As and when they occur,i'll add one more.

I use a top-down approach and so far it has been working well with me.

[kumara_xl]

thx for the reply.how many trades do you usually make per day/week...?What do you look for when choosing trade set-ups?NICE shape of waves?consistent waves?Because i seem to realise from your posts that the charts you choose have decent wave design,consistent ones.I presume this is because you handpick ur trades from the sbfx charts.so only obvious waves will seem to be ur trades.this is the fault with esignal.it just's uses math and tells whenever there is a potential trade set-up without the manual human factor of seeing the design/smoothness of the wave.

Just me 2 cents.thx again.good luck in yur trading again.what i forgot.:p you dont need it.your e having more than enough of it now.:D CIAO!

[mattijschris]

Hi Durgesh,

From your posts I understood that you are using SBFX for your data and that you use FXDD as your broker. I tried both demo's and it seems they both have Metatrader platform from which you can export data into MTP. I wonder why you don't use the FXDD data as it is your broker. It seems to be possible to export that data in the same way as with SBFX as they offer the same platform. Am I overlooking something?

By the way congratulated by your succes. You are becomming famous on the forum. Thanks to share all your knowledge and results from your hard work and to post your charts. It makes it possible for me to check what I am doing. And it gives hope.

Mattijs Christiaanse

[kumara_xl]

dear durgesh,still have 1 more q.:p .when you started trading you had a $5000 acc.,did you trade using normal account(where 1 tick=$10) or used mini account(where 1 tick=$1).This is because,if traded with the normal account,you would have risked quite a lot of your account on each trade.Please clarify.Thanks again.Good luck and good night!:)

[AlanD]

Durgesh,

I would like to add to Kumara_XL's question and ask if your success with FOREX was due to trading mostly 1,4, 8 hour and daily charts vice trading less than hourly charts? Thanks.

Alan

[durgesh147]

dear durgesh,still have 1 more q.:p .when you started trading you had a $5000 acc.,did you trade using normal account(where 1 tick=$10) or used mini account(where 1 tick=$1).This is because,if traded with the normal account,you would have risked quite a lot of your account on each trade.Please clarify.Thanks again.Good luck and good night!:)

Hi !!!

When i started out, i just traded hourly charts.The sl on hourly charts are abt 30 pips while the targets are abt 120+ pips.I traded only one standard lot at a time.Unless, i closed one trade , i never opened the other.It went like this till i got to 12k.Thereafter, i started trading 2 trades at a time.Not to mention, as far as my experience goes the success ratio of hourly charts is abt 60%.So, going by the law of avgs you always add to ur a/c blindly trading the hourly setups.
One more thing, if you people did some labour urself,it'll help you more than what i can tell you.You learn by ur own experience.:) I never asked anyone abt this.I just figured it out myself.some people are aggressive, and some are conservative.So, its you who has to find out whts best for you.There is no tailor made solution.And if you are looking for one, i guess u r just wasting ur time.All the best !!!

[durgesh147]

Hi Durgesh,

From your posts I understood that you are using SBFX for your data and that you use FXDD as your broker. I tried both demo's and it seems they both have Metatrader platform from which you can export data into MTP. I wonder why you don't use the FXDD data as it is your broker. It seems to be possible to export that data in the same way as with SBFX as they offer the same platform. Am I overlooking something?

By the way congratulated by your succes. You are becomming famous on the forum. Thanks to share all your knowledge and results from your hard work and to post your charts. It makes it possible for me to check what I am doing. And it gives hope.

Mattijs Christiaanse

Hi !!!
Sure!!! Both use metatrader but the version is different.SBFX is MT4 while FXDD is MT3.I guess you have not explored these platforms in detail. You can limit the data in History center in MT4 like i use just 300 bars while in MT3 the default is set to 8192 bars.thats too much!!!
the real prob arises when i format the data in excel like i use mm/dd/yy format but when i format the MT3 data , some rows show mm/dd/yy format while others show mm/dd/yyyy.So when i load the data in MTP , the chart i see is distorted.If you have a solution to this, i will surely love to hear from you and give you charts from FXDD data.
SBFX and FXDD show identical graphs except the difference of a couple of pips.So, it can be easily adjusted.
i have mentioned it some earlier post also, i have problem transferring data from MT3 to MTP.Here, i told you in detail.
I wonder if these kind of questions make any sense or its just for the sake of questioning.To be honest, i get irritated at times.But i try to answer ur queries as politely and as clearly as possible.
I wud love to help you guys in the best possible way i can and i do that.But pls dont think, that i know it all.I am still learning and like i said earlier, learning is an ongoing process.
Anyway today was our HOLI festival, so i am tired as well.So , any arrogance in my replies shud be forgiven and forgotten.
Cheers!!!
All the best and HAPPY HOLI To you all who celebrate and also to those who dont.

:)

[durgesh147]

Durgesh,

I would like to add to Kumara_XL's question and ask if your success with FOREX was due to trading mostly 1,4, 8 hour and daily charts vice trading less than hourly charts? Thanks.

Alan
Hi !!!
I started with 1h charts , then 4h charts and then daily.as far as my experience goes, you will get the max out of forex from trading higher timeframes like daily and 4h.On smaller timeframes, too many trades are made but the overall returns are small.This is my experience.Yours maybe different but only and only if you take the pain to find it out urself.Do some labour guys.There is no free lunch in these markets.:p

[durgesh147]

So far so good.

[durgesh147]

When all the BIG analysts were crying longs for dollar, i was short.:)
The B2 bomber cant escape the MTP radar:D

[kumara_xl]

thanks durgesh,hope you had a colourful holi with your family and friends.:D thx very much for the reply.very useful.i also agree that it's a waste of time looking for tailored techniques.it all comes through experience.however,a little advice from the big brothers sure can expand the mind a little.anyway,good trading to you again.good luck and good night!:)

[AlanD]

Durgesh,

While I (as well as others) appreciate your efforts with sharing your experiences in using MTP with the FOREX markets I don't think you give us much credit. I think many of us have put many hours into analyzing price movements with respect to MTP's ability to find setups. I'm sure I can speak for others in that we have been putting in many hours analyzing and even trading setups that MTP provides.

Since you've been so courteous to share your potential setups, it should be safe to assume that you would also share how you came to the level of success that you have. Hence part of the purpose why we are here communicating our experiences with MTP. I don't think anyone is looking for a free ride. We all learn from each other and part of that process involves asking a few questions here and there.

I agree with you that we need to learn from our own experiences as that is the best way to learn in my opinion. I just think that if your willing to share how successful you are, you might be willing to provide insight in how you got there. Just my two cents. Thanks again for contributions....

r,
Alan

[durgesh147]

Trade closed.

[durgesh147]

TS3 buy triggered.

[durgesh147]

Goodlooking Advanced Wave C of minor degree unfolding on daily chart as well.

[durgesh147]

Stopped out for a small loss after making about 300 pips in the same currency pair
in the last two trades.

[durgesh147]

After getting stopped out once, i'll give it a go once more.This WPT is surely showing some solid support.

[alan4]

(for those back testing like myself) Would not have been stopped out on CMS platform, so setup would not have been triggered

[Biggo]

Would be interested in if any of the FX experts would consider this a valid trade set-up?
Any help welcomed

[durgesh147]

Great to see others posting setups here.Well done !!!

As far as the setup is concerned, it doesn't look like a clean ABC pattern that Steve emphasises so much.I think its sure wave 2 or B but not a good looking setup.

Ok...i tell you some pairs where a clean ABC pattern is developing.Watch out EURUSD and USDCHF daily charts.

[durgesh147]

This looks like a good setup in making and i'll keep an eye on this next week.

[durgesh147]

I closed my short trade in this pair for 283 pips.Closed my long in GBPUSD as well for 200 pips.So , this month i am already past 500 pips.:)

[durgesh147]

A good long setup in the making.Dollar bulls ,back ??We'll find it out next week.

[Biggo]

Great to see others posting setups here.Well done !!!

As far as the setup is concerned, it doesn't look like a clean ABC pattern that Steve emphasises so much.I think its sure wave 2 or B but not a good looking setup.

Ok...i tell you some pairs where a clean ABC pattern is developing.Watch out EURUSD and USDCHF daily charts.



Thanks for your reply Durgesh

I did take a mini position already I am very slightly in profit so will follow with a tight stop. Thanks very much for taking the time to give me your view it is very much appreciated

[durgesh147]

GoodLooking TS1 BUY in the making.

[Sejake]

Morning all....didn't post this as the initial R/R was only 1.1 for a typical wave C. However I was looking for a deeper correction (due to the corrective look of the advance into the high)and used the typical wave 3 R/R which was almost 4.1
Now well into 2-3 profit zone, well past typ wave C and hopefully into a wave 3 target zone.

Durgesh, also waiting to pounce on the USD/CHF Daily, if it comes into play...:)

[durgesh147]

Hi Sejake,
it was a clean hit.if you look at the daily charts, i feel this setup can prove to be a big wave 3.Good catch!!!

[timo4sho]

Great to see others posting setups here.Well done !!!

As far as the setup is concerned, it doesn't look like a clean ABC pattern that Steve emphasises so much.I think its sure wave 2 or B but not a good looking setup.

Ok...i tell you some pairs where a clean ABC pattern is developing.Watch out EURUSD and USDCHF daily charts.


How do you follow the charts (first daily and then work your way down to 4 hr and 1 hr charts? or other way round?) and which charts do you follow? How long did it take you to be able to recognize patterns in the making without the help of the EOD version?

What timeframe would you suggest as being best for getting started? what pairs work best from your experience?

Thanks for your help?

[timo4sho]

Hi !!!
Sure!!! Both use metatrader but the version is different.SBFX is MT4 while FXDD is MT3.I guess you have not explored these platforms in detail. You can limit the data in History center in MT4 like i use just 300 bars while in MT3 the default is set to 8192 bars.thats too much!!!
the real prob arises when i format the data in excel like i use mm/dd/yy format but when i format the MT3 data , some rows show mm/dd/yy format while others show mm/dd/yyyy.So when i load the data in MTP , the chart i see is distorted.If you have a solution to this, i will surely love to hear from you and give you charts from FXDD data.
SBFX and FXDD show identical graphs except the difference of a couple of pips.So, it can be easily adjusted.
i have mentioned it some earlier post also, i have problem transferring data from MT3 to MTP.Here, i told you in detail.
I wonder if these kind of questions make any sense or its just for the sake of questioning.To be honest, i get irritated at times.But i try to answer ur queries as politely and as clearly as possible.
I wud love to help you guys in the best possible way i can and i do that.But pls dont think, that i know it all.I am still learning and like i said earlier, learning is an ongoing process.
Anyway today was our HOLI festival, so i am tired as well.So , any arrogance in my replies shud be forgiven and forgotten.
Cheers!!!
All the best and HAPPY HOLI To you all who celebrate and also to those who dont.

:)


How exactly do I limit the data in History center in MT4 to just 300 bars as described above?

Thanks!

[Sejake]

Update GBPJPY......

MTP now showing GBPJPY approaching wave 3 typ target...

[Sejake]

Would be interested in if any of the FX experts would consider this a valid trade set-up?
Any help welcomed

Hey Biggo, I would agree with Durgesh's comments about the setup as far as MTP guidelines go.
I took this trade at the .382 retrace as the move down from the high looks to be a complex correction which is typical for a wave 4. Wave 4 down WPT confirmed for me that minimum price and time requirements had been met for a 4 to be complete and some type of upmove should follow.
My initial target is .27 to .62 extension of the wave 3 top to the wave 4 low move (of course it has to get past the previous top)...:)
Whatever happens I've locked in some profits and will hold some for targets...

Good luck if your in as well.........:)

[Steve Griffiths]

"some rows show mm/dd/yy format while others show mm/dd/yyyy"

Hi Durgesh............... I wouls suggest yyyymmdd as the date format if possible, having two differnet date formats like mm/dd/yy and mm/dd/yyyy in the same foder will cause all sorts of problems and will not work.

I hope this helps ?

Steve

[durgesh147]

"some rows show mm/dd/yy format while others show mm/dd/yyyy"

Hi Durgesh............... I wouls suggest yyyymmdd as the date format if possible, having two differnet date formats like mm/dd/yy and mm/dd/yyyy in the same foder will cause all sorts of problems and will not work.

I hope this helps ?

Steve

Hi Steve !!!
I think you din understand the prob.i'll try to make it clear.Like i said, MT3 has a default setting of minimum 8192 bars.I tried to change it to 300 but no use.Now when i transfer the data from MT3 and open it in excel, its obvious that there will be 8192 rows.Now, when i change the date format to mm/dd/yy.... some rows show the mm/dd/yy format while some rows show other format.The real prob, according to me, is related to excel.If i have two type of date formats in a single data file, any software will get confused.
I'll try changing the date format to yyyymmdd and see if all is well .

Thanks for ur help,

Durgesh

[durgesh147]

hi Steve !!!

I'll try to explain with a pic.Here is wht i get in excel after i tried to change the date format to yyyymmdd.Something wrong with excel.:(

[martinrcox]

hi Steve !!!

I'll try to explain with a pic.Here is wht i get in excel after i tried to change the date format to yyyymmdd.Something wrong with excel.:(

Hi Durgesh,

I was having similar problems and now when I export the file from MT4 I change the save as setting to ASCII Text (*.pm) which then put the excel info in the yyyymmdd date format as per the image shown below

I hope this helps. Martin

[Sejake]

Steve if your around,

Just your thoughts on this, I was also looking yesterday on the daily euro and looking for the 1 or A target and trying to confirm with ABC typical wave C target, which was at the 1 or A WPT.
It blew through both targets pretty easily, so I've now manually put in a wave 3 WPT as the next target. Of course it could reverse right down throught the 1 or A / typ C WPT's, confirming them, but would you now consider this likely a wave 3 if the previous targets did not hold.
Hope this makes sense....

Thanks

[Steve Griffiths]

Hi Guys,

I hate to say it, but this is always the problem with any "free" source, they are always hard to work with and as such are somthings more trouble than they are worth....

We do everything we can to make the import into MTPredictor EOD as easy as possible, but it looks like the problems are all getting the data out from your source.......... Can they make any changes to make it easier for you. Like add the yyyymmdd date format and allow a selectable number of bars to export. I would suggest you drop them an email and see what they can do to help you ?

Is there anything I can help with here on the MTP side for you ?

Thanks

Steve

[durgesh147]

Hi Frds !!!

I think i have found a simple solution to my problem.:) So, now you can expect charts from FXDD data.

[durgesh147]

Manual TS1 Buy .

[durgesh147]

Although the setup looked promising , i got stopped out.:(

[martinrcox]

Although the setup looked promising , i got stopped out.:(

Hi Durgesh,

MTP came up with a different setup for me for GBP/JPY see below

[Sejake]

Hey Biggo.....my targets been met here at 1.27 extension and I'm out....+140 pips.

[Sejake]

Hi Durgesh,

MTP came up with a different setup for me for GBP/JPY see below


GBP/JPY.....target also met closed at typ wve 3 WPT (3.7 R/R) +230 pips.

Time to start scanning again.....

[durgesh147]

Hi Durgesh,

MTP came up with a different setup for me for GBP/JPY see below

Hi Martin !!!
i saw that thru show Elliott Wave modules too.What i posted was my own manual analysis .Although i am stopped out, i still feel that setup is valid and GBPJPY will see 207 plus in coming days.
I had a decent number of hits lately, so maybe the law of avgs trying to catch up.:D