PYenner

They are a mixture of scalps and day or week trades. It was about whatever is available.. first 3 pix.

Cattus I found the record for the marathon session I did back in June 2007. There are about 300 trades in the 10 major pairs. There are 14 pix and about 3M of upload so I will probably delete them in a few days, partly for the storage and partly because newbies have an 80% failure rate at trading and I doubt the suitablity of the material for newbies. It was my crazy way of evalualing the majors for trend trading and for scalping. If you have the time to work thru the information it should help answer your question about which pairs trade best. More in the next post.

Cattus Forgive me for butting in but Walter trades futures live and is moving into forex probably next year, so I will say what I can. EURJPY 3 pip spread is good because it has greater movement, just as you say. Another issue that matters is the $/pip payout which is about $9/pip for a USD account trading in EY. $9 is normal. All up EURJPY is one of the best pairs in the majors. It also trends well when there is a good long trend that lasts a week or a month, not the cr*p we got yesterday in most of the pairs when they all went dead and choppy. USDJPY is a weak mover because both those currencies are weak. Big movers have one strong currency (GBP or EUR or AUD) and one weak currency (USD or JPY). Do not recommend USDJPY for trading, there are usually better options. Despite EURUSD being a strong/weak pair, it tends to be a poor mover and too often works as a trap. I have rarely been able to get good results out of this pair, too much waiting for the trade to develop, then you get burned. I don't like EURUSD and I don't trade it, I think it is a trap pair. GBPUSD is another good mover and popular with traders, ok spread etc. It has times when it is not good trading and yesterday was an example where it behaves like EURUSD and goes nowhere for hours, trap day yeasterday, but other days choose between GBPUSD, EURJPY and AUDUSD for reliable friendly signs and watch for mischief developing in any of these pairs because it tends to spread slowly though all the pairs. I used to trade GBYJPY because it is the most difficult to trade, high pip margin, most jerky rubbish, most deceptive but when it does move big and reliably it is also the biggest mover of the lot and a high $/pip. Highest risk highest reward. Don't live trade that sucker until you have done a few months of demo trading in it first, it does the biggest burns. AUDUSD has medium $/pip, good pip margin and it has been friendlier than most majors to trade but it seems to be slowly becoming more hostile, or it seems that way to me. AUD will perform best when USD is weakening, I think yesterday USD had a strong day and GBP had a weak day and that made trading in most pairs bad news. I did more than 20 scalps in EURUSD yesterday before London Open but then it turned choppy like the rest of the pairs and I blew a quarter of the profit before I had the sense to quit. So it ended up about 60 pips for the day but it had been up to 80 pips at around 15 trades. Trading gets a lot easier when there is a good long trend, more choices. I spent a month demo trading all 10 major pairs and making a profit on all of them for the month but it was a silly exercise. It did teach me that the best pairs are usually the ones mentioned above, both for trend following and for scalping. That was done during a month long rise, good trading conditions. Usually forex spends most the year trending upwards but this year is not a strong year. I am still fond of the high risk high reward thing going on in GBPJPY but in the uncertain markets these days, the risks are higher than the rewards, the payout does not seem to be there when the markets are not strong. So AUDUSD, EURJPY and GBPUSD are the best places to look for good trading action and in my opinion AUDUSD can be good easy trading, but it all depends on the day. It is most important to get a sense of when markets are worth trading and when they have to be ignored. Knowing when to stay out, thats your best friend. Scalping seems the best option to me these days, I have not attempted a week long trade since mid year and scalping gives you a much friendlier lifestyle than trying to stay awake for a week :o Cheers Bruce

Walter Good question, it is supposed to be the pip volume, add up all the 1 pip tick movements in a minute and that is supposed to be the volume. But now the way the throttling is working tells me the platform works out the volume based on the number of ticks it allows to go through, got nothing to do with real tick movements, which seems to be in quarter pip steps anyway :\

Walter I found some MT4 programs that attempt to do the vwap thing but they are a bit untidy. When I can find them in my junk pile I will post them as they may be some help (maybe?) for sparrow. The place to start is probably at the simpler level, just display the volume price sums as horizontal bars on the left side of a chart. Then start getting fancy once that is working. This could send poor sparrow nutso... Bruce

Agree, if the programs are developed using futures charts and futures volume charts, they will be most accurate and reliable because ticks are not censored. But attempting to develop them on forex charts using censored data is likely to give crippled results unless better tick data sources can be found. Trying to minimize the wasting of weeks and months of programming effort, wanting to use the time to maximum benefit, uncertain where is best to invest the effort.

Should have said 22 tick steps not 22 pip.On MT4 the "tick chart" is called Market Watch" but it shows only the throttled ticks not the real uncensored ticks.

Walter Seeing evidence that AUD interbank data signal is malfunctioning. On my CMC platform the chart goes horizonal then jumps up or down 5 pips. At the same time on MT4 US feed the same thing is happening but the MT4 platform does not show the bars where the price and volume go dead, it just leaves them out of the chart !!!! So you don't see the 3 or so bars of horizontal prices, instead the chart doesn't move for minute after minute, no ticks get sent to it, or to the tick chart for aud. I have not compared my live charts to historical charts DLd from metaquotes but I do know that my recorded live charts have missing bars in the majors as well, not just in aud, because I see price patterns in some pairs getting out of sequence from other pairs when I go back thru the live history.

Walter My thinking on volume is still unclear, still taking shape. Jperl tried to do a moving version of vwap on time charts and did not like it. My vague idea is that any vwap sysem, moving or fixed, is likely to work better on a volume chart than on a time chart. On a volume chart emas and vmas would be working in say 22 pip steps instead of in 1min steps which might make for interesting differences. Tick throttling stuffs everything up, really need access to unthrottled ticks for all types of indis especially volume. Would also like to see the tick data split into bull and bear components much the way an adx tries to do this, but the standard approaches to doing this with volume are primative to the point of being silly. Even on time charts it might be possible to run volume based emas and vmas (22 tick steps?) but it would help a lot if unthrottled ticks could be used for this. So getting access to the real unthrottled tick data on NT and MT4 seems a priority for making volume work properly, when they throttled the ticks, volume drops to near zero as a result, it gets censored out. Just thinking...need a way around their dishonesty. Bruce PS scalps going nicely thanks

Walter and Sundowner Posted the wrong indicator, I have pulled ComplexBalance, don't know what that thing was. Here is Complex_pairs1.mq4 which is the one I was talking about. Runs in an oscillator window and works like a divergence indicator. Running 3 versions of MT4 and getting confused about which is doing which. Sorry again Argh Complex_pairs1.mq4

Walter and Sundowner Had a look at the code inside Complex_balance.mq4 and it is using a different approach from the rest of the family of indicators it came from. It doesn't do currency analysis at all. It looks like it displays the difference between a slow ema line and a fast ema line (of the price). So it may be some use for signaling exhaustion but it is no use for following "smart money" and it may be no use for predicting the direction a trend will emerge in. So learning what if anything it tells you will take time. It looks like it can be used on AUDUSD after all since it doesnt need to call for prices from other pairs. So, not what I had expected sorry, the websites are Russian so I don't know what the heck they are talking about. It may be a waste of time compared to what vma already tells you. I have been trying to find a simple version of a currency analyser but so far they are cumbersome. This one is not a currency analyser, it may be more like a divergence indicator. Bruce

Hi Meza This may be a silly reply but what the heck.... On my XP swf files are played in the browser, internet explorer. So they will either play from the website or play a DL'd version. But it needs flash player from Adobe Systems enabled as a browser add-on. A download utility might change the filename extension from swf to png but it shouldn't be converting the file format so maybe change png back to swf and see if a DL'd version plays back ok. Sorry if thats a silly answer but its the only one I have got. Bruce

Walter It is a trend forecasting tool that may be easier to use on longer time frames. Well, it doesn't so much forecast as analyse currency flow into and out of the market but the equations it is using are too basic, the thinking lacks focus. It should work a bit like "smart money", should rise before an up trend, give some warning of exhaustion or weakening, fall before a down trend. Have not figured out how meaningful the zero crossing is, particularly on shorter time frames you may need to "smooth out the signal in your head" to pick which way the trend is going to go. It may be helpful during longer HEs to give an early signal of which way the new trend will emerge. Reluctant to study interpretation of that indicator because its the equations inside it that really need study and improvement. Get it working better first. Bruce

Sundowner I don't know if this one will help or hinder. It comes from Russia and it has been done in a rather basic way. It can only be used in the majors as it depends on the number of pairs that are available, AUD usually has only one or two pairs available which is not enough for this indicator. EURJPY might be okay for it. Have not evaluated it.

Sundowner Forex has weeks and even months when it is high risk and high uncertainty. Like it better when there is a steady trend to work with. It will never be certain but familiarity with the bahaviour of the market helps. The difficult area on your chart is a classic tough patch. There are repeated false breaks after the difficult patch before the up trend shows itself. I don't know if I should say this but since you are trading majors perhaps you should know. The difficult patch on your chart is an area where the banks change the currencies they are using to move market prices. In the case of EURJPY, it shows the sum of EUR funded trade in GBPJPY and JPY funded trade in EURUSD ie EUR accounts open and close trades in JPY, the second currency in the GBPJPY pair, this is an undermining trade that suggests both EURJPY and GBPJPY will initially rise but untimately fall so that a profit can be taken from the JPY positions held. One complication is that EURJPY also shows JPY funded accounts taking trades in first currency EUR in EURUSD. There they might be seen as bull or bear because while EUR is strong, JPY is a weak currency, so yes it gets really confusing. When I see areas like your difficult patch on the chart I take it as a warning sign of a possible trend change, but as you see from the alternating breaks afterwards, even "knowing" which way the trend will emerge can still make for risky trading. So with those patches I take them to mean that the past trend is probably over, but that either trend might eventually emerge. Mostly it means that the banks have shuffled up a new mix, a new deck of cards and they sometimes reshuffle the pack a few more times before a real trend emerges. Those patches give me discomfort because they often mean hours of mischief movements, I would rather be trading after the mischief has finally ended and a real trend has emerged, but as you see the timescale is not a friendly one and I wonder if I should switch to trading futures or whatever for the rest of a session, after I see those patches in forex. Predominantly the banks hold positions only in GPBJPY and EURUSD and primarily use the 5 major currencies. Aside from those two pairs, the other 8 pairs including EURJPY get little direct trading from the banks that generate the patterns that attract traders. Instead they show what curriencies are being used for generating trading patterns. I am sorry to introduce a host of new complications that make for a much bigger learning curve, but that is a reality of the forex interbank market. If you don't like guessing, then following currencies may help give more facts to look at but still it remains a difficult and devious market. VMA works, volume should have things to offer, so to should currencies. The one plus that forex has is the 5 major currencies work with and against each other in 10 pairs, it gives the possibility of a degree of analysis that is not possible in other markets. The banks, if you like, are playing with their cards facing up, yet still they win more than they lose. It helps if you are aware that their cards can see seen, they are on display. Just wish it was a lot easier it make sense of. The good thing about vma is they work in realtime prices, reality, that makes them an asset to any trading system. Regards Bruce

Hi Cattus Volume is best studied on a volume chart, not on a time chart. NT has the volume charts and the programming language for indicators. But so far NT seems to have only one source of free live forex data, Gain. So it would be nice to be able to export market data from MT4 into NT, but don't know how that might be done. What Walter has seen on Gain is that market makers are throttling ticks, prices dont follow the market, its one more way they can make more profit and we make less, it really works against scalpers hardest. I am seeing the same thing happening on the MT4 sources I have used for ages. So it is not just NT it is everyone in forex, conflict of interest. The only NDD I looked at, Hotspot, was doing the same thing and that really disappointed me. It isn't just as easy as exporting live tick data from MT4 to NT, NT uses a patch to give each company the type of throttling they ask for. So it would need knowledge of how to write such a patch in order to make one for fetching data into NT. NT are not likely to tell as how to modify their patches. One alternative is excel but that is unfriendly compared to what is available on trading platforms. Another is to simulate volume based charts in MT4 and superimpose them on top of price charts. But that is also difficult and primative and why do all that work when NT have already done it for us. Our needs seem to be a few years ahead of what is available. NT is mainly a futures platform at this stage. Trading Technologies has a futures demo account that doesn't expire but I don't know if prices are real time. At this stage to looks like work on volume needs to be done on futures markets, not on forex, simply because NT has futures and volume charts. Maybe futures are also tick throttled, it seems likely but I dont know, only traded fx so far. More questions than answers...

Well here is the missing link fwiw. This one is supposed to do 3 bar, but it made little difference. Maybe I need a head transplant... ADXVMA6_3bar.mq4

Walter This might be something like Unicorn's vmar_1. On the other hand, who knows? Bruce VMAR_1.mq4

How did this thread get so big?? Can't find anything, just like my indicators folder. Well, the bad news is... theres a BUG in ADXVMA6 yeah, I know, executions at dawn... This piece of code... if (Out>Out[i+1]){HHV=Out;LLV=Out[i+1];} else {HHV=Out[i+1];LLV=Out;} for(j=1;j<ADX_Bars;j++) { if(Out[i+j+1]>HHV)HHV=Out[i+j+1]; if(Out[i+j+1]<LLV)LLV=Out[i+j+1]; } Should look like this... if (Out>Out[i+1]){HHV=Out;LLV=Out[i+1];} else {HHV=Out[i+1];LLV=Out;} for(j=1;j<ADX_Bars-1;j++) { if(Out[i+j+1]>HHV)HHV=Out[i+j+1]; if(Out[i+j+1]<LLV)LLV=Out[i+j+1]; } What difference does it make? When you ask for ADX_Bars=2, you get 2 ok. But when you ask for 3 you get 4 instead. And so on, ask for 4 get 5 etc. Wish my paypacket worked like that... So it looks like ADXVMA7 will be coming. Walter put that gun away... Sorry all.

Hi NiCForce I didn't answer your question properly the first time. Adding an ema line with iMAOnArray would need an extra array and we already ran out. Would have to drop the red and green histogram lines that use up two arrays. Cheers Bruce

Sparrow, sorry I should have been helping, some of the stuff is confusing and undocumented. Only MT4 needs to use repainting loops, on other platforms use normal loops or normal ways of counting bars and ticks. In MT4 iMAonArray has to be in its own repainting loop, on other platforms it should be used normally with no funny repainting timing. I will try to look at the NT versions over the weekend and see if there are any "MT4 diseases" in there that don't need to be there. They have tripped everyone up, so don't go nuts or you end up having tantrums like me...Sorry, not keeping up. Bruce

So far this week my mm is better but not good. Swiss data is bad, worse than my market maker and their throttling takes the prices in opposite directions, so my trading price goes up while my charts on Swiss feed go down argh burn. Maybe need to find another signal source on NT?

Yes it can be used but it is a nuisance to use iMAOnArray because each time you use it you have to put it in its own separate repaint loop and I also don't trust repaint loops. It is a major defect in MQL. Thanks for the links NiCForce. Lack of information in English is a big problem and wastes a lot of time.. It takes a lot of time to find out how to keep an indicator from crashing or misbehaving.These are my main links for information- http://articles.mql4.com/ http://codebase.mql4.com/ http://forum.mql4.com/ Use the search function on that site to find things like iMAonArray which has "known issues" (but the manual does not say so)... You often have to find other programs that have already done what you want to do and try to copy what they have done because no-one tells you how to do it. MQL is more difficult than most, more complications than most and not enough documentation on even simple things. You will need to be very patient with MQL programming and good luck.Cheers Bruce

The markets have lacked confidence for much of the year. It has lead me to look for shorter quicker trades with less drawdown. These days I tend to scalp out before "that sick feeling" sets in. Currently prefer a quick stop and wait rather than risk "double sickness" in a "less secure" market but it depends on the day.

Yes, echo that Michaltrade. Its the opposite of what you expect to find on the internet and its great. Walter You ask for feedback about the way the systems repeat themselves while having variations in them too. Its great like that, consistency but still an open mind for variations. The 5min/1min entry thing is about waiting for price and momentum to prove themselves so there is less guessing and hoping and it works for me. Gains for me from entering later with momentum- consistent trades, less waiting, less drawdown while waiting, quick in and out = less stress. My fx target is currently around 20 pips and mostly that is taking 4 scalps over 4 hrs but sometimes get more from just two trades. Mostly trading the earlier parts of a move and not caring for now what happens after exit, happy to wait for a re-entry setup for another quickie. But the big wins for me are consistency and less drawdown. RnR plusses. As I get the hit rate up I am also happier to stop out quick and wait a bit longer if it doesn't look to be developing as expected. Before I tended to tolerate more drawdown because I was entering too early. Yes the Oscar goes to Walter, thank you for the inspiration and the perspiration.:applaud: