Swiss Franc-Yen

[Eddo]

I thought the attached looks like an interesting set up. Interestingly, MTP EOD v5 didn't find this one on the normal setups and I caught it using the Esignal efs - I then went back to MTP EOD and took off all the filters and hey ho there it was. The point about this is that based on the data feed I am using and presumably the MTP EOD pre-set filters, I had not found a single Forex set-up for the last 3 months (i.e. no auto set ups since January) by running the standard daily scans.

Having spent the weekend playing with the Forex data on Esignal I see that I had missed loads of quite good set-up and thought the group might like to have this input - i.e. don't just run the standard daily scans on MTP EOD, try running without filters and try looking at the Esignal screen with the efs's.

Bye the way - the same thing is true for my Commodity data - no set-up at all this year using only the standard daily scan in MTP EOD

Having said all of that, no doubt the attached trade will proceed to bomb and make me look like a proper twit :)

[Eddo]

Well I'am in and whilst yesterday wasn't the best of starts I will see how this one goes. After 20 years of trading and over 4 years as an MTP client, believe it or not this is my first ever Forex trade! Any comments from those of you with Forex experience on this one would be welcomed - thanks :)

[brs910]

Having spent the weekend playing with the Forex data on Esignal...

Hi Chris

I was curious as to how you use MTP EOD with your eSignal data. Do you manually update the .txt files daily / intraday or is there a way to setup MTP to interact with the eSignal Data Manager?

Thanks

Cable

[Eddo]

Hi Cable,

My default chart in Esignal has all the MTP efs's loaded for use in RT. To get the EOD charts simply change the time frame (interval) to Daily and up comes the chart with the daily bars with any WPT's showing. What I have now done is to create a page in Esignal for all the Forex markets I follow and a page for the Commodity markets I follow. This allows me to quickly scroll each of them at the end of the day.

I hope that helps a bit :)

[brs910]

Thanks Chris

Yes that makes sense, and is similar to how i use eSignal. I have two layouts that i switch between; one that has my EOD charts and one with my intraday charts. I check the Daily one in the morning and evening, and the rest of the time i'm sitting on the intraday layout waiting for that little .wav sound to spark me into action :)

From your initial post i assumed you were somehow using the eSignal data with the EOD Mtpredictor software as well using teh efs' within eSignal itself. I see a lot of ppl post .jpg's of the EOD software with intraday timeframes, but i think they are using another data vendor.

Keep an eye on the Forex forum and the Trade of the Week postings. There are some good traders posting setups and good discusion takes place.

Cheers

Cable

[Eddo]

Hi Cable

You can bring Esignal EOD data and RT data directly into the MTP EOD software. I can't remember quite how I set it up to do that but think it there is a section in the manual somewhere.

In short you access it via the Open Data File icon - and then both the Daily and Intraday markets with Esignal data can be accessed.

I suggest you send a quick email to Steve and ask him where the details of how to set that all up are - but you can do it (I have!)

Chris

[Eddo]

Just a quick example - here is the FTSE 15 min chart taken from Esignal data and showing in MTP EOD v5

[Steve Griffiths]

Hi Guys,

Please see the Support video help files, they will show you exactly what to do :)

http://www.mtpredictor.com/pricing/RTHelp1.html

Yes I work with both Daily and intrday charts in the EOD uisng either eSignal or TS8 data whenever I need to perform additional advanced analysis ....

Thanks and I hope this helps ?

Steve

[Eddo]

Thanks Steve,

Yes I do as well using the Advanced ABC button to give me prior warning - btw did you catch that fabby SPX setup yesterday - I got an RR of about 4.5

Chris

[brs910]

Thanks guys got it sorted now :)

[NHN123]

Guys,

I am in on this trade too. However, looking at the weekly charts (which I should have done before) I am looking to scratch this trade.

I think we are in an up so shouldn't be in short trades...

just my opinion

[Steve Griffiths]

Thanks Steve,

Yes I do as well using the Advanced ABC button to give me prior warning - btw did you catch that fabby SPX setup yesterday - I got an RR of about 4.5

Chris


Well done Chris............ as you say a Fab trade - well done :)

Steve

[NHN123]

Guys,

I am in on this trade too. However, looking at the weekly charts (which I should have done before) I am looking to scratch this trade.

I think we are in an up so shouldn't be in short trades...

just my opinion

There maybe some hope for us on the short trade...

a couple of possible outcomes - steve could you comment please? I'm still learning, as you know. Do you think these are any good? They don't quite meet the pivot maths, but look ok to me....

[Eddo]

Good enough for me I think to hang on - but its not looking Gr8 just at the moment. I'll give it another day I think :confused:

[NHN123]

Good enough for me I think to hang on - but its not looking Gr8 just at the moment. I'll give it another day I think :confused:

Short triggered on the 60 min chart. Although it went through the WPT, it never closed above it....

Maybe some up movement still, however, to the the TYP wave C resistance.

My point is that it appears to be getting resistance from the wave C WPT, so it may well be a wave C and not a wave 3 as the weekly charts would suggest....

Hope that makes sense...

[Eddo]

I got to 1 tick from being stopped out today and then the gods smiled and looked at your charts and I think that now its going in our favour - :) lets see what tomorrow brings and thanks for your comments :)

[NHN123]

I got to 1 tick from being stopped out today and then the gods smiled and looked at your charts and I think that now its going in our favour - :) lets see what tomorrow brings and thanks for your comments :)

May I ask, where is your stop? Are you trailing it?

I only expect a wave C here, as the weekly charts are pointing up....

[Eddo]

Hi,

My stop is in at 91.29 see attached. However I trade using a spreadbet account which whilst tax-free (:) ) does mean that I have to put up with in this case a 10 tick spread !

Anyway this trade looks a little better this morning with my prices sitting at 90.83/92 as I write this.

[NHN123]

Hi,

My stop is in at 91.29 see attached. However I trade using a spreadbet account which whilst tax-free (:) ) does mean that I have to put up with in this case a 10 tick spread !

Anyway this trade looks a little better this morning with my prices sitting at 90.83/92 as I write this.

I am using a spreadbet too. the 10 pip spread is a lot, but I figured that if I had to hold it for a few days or over a weekend, the financing is too high on the long yen trades....

Anyway, I have moved my stop to 91.24 (91.14 + 10 spread) now, as I am trading this as a four hour now.

Who do you use for spreadbet? I use CMC. I think my prices might be slightly different to yours.

[Eddo]

Hi - I'am using CMC as well - currently 90.80/90

[Eddo]

Hi again - ment to ask .......... where do you get your Forex intra day feed from and what does it cost?

I have never traded Forex before I so I only have the EOD data supplied by Esignal using the symbol
ZY #F

Many thanks - Chris


PS I was delighted to see a post by Durgesh in another thred that he has also got a good feeling about this short trade

[NHN123]

Hi again - ment to ask .......... where do you get your Forex intra day feed from and what does it cost?

I have never traded Forex before I so I only have the EOD data supplied by Esignal using the symbol
ZY #F

Many thanks - Chris


PS I was delighted to see a post by Durgesh in another thred that he has also got a good feeling about this short trade

I get mine from Tradestation. It's free, cos I have a futures account with them. If you don't have an account with them, it'll cost you about $300/m.

I was too. I like to be thinking along the same lines as Durgesh....

[Eddo]

Thanks - I don't have Tradestation just Esignal and MTP - thanks for your help - my stop is now as yours and its looking like we are going to get stopped out :(

[NHN123]

Thanks - I don't have Tradestation just Esignal and MTP - thanks for your help - my stop is now as yours and its looking like we are going to get stopped out :(

looks like it! v small loss though, if it is....

[Eddo]

Just been stopped out - lesson learnt ............. don't forget to look at the Weekly chart (or the further out timeframe) before taking the daily set-up - but only a 1R loss so in all an interesting experience :)