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Thread: The 3 Musketeer Trade

  1. #11
    Quote Originally Posted by ;
    I gotcha now
    Additionally consult a number of TFs!
    When trading M15, consult M30, before you choose to close commerce - your behavior however depends on what sort of trader you suppose to be.
    Should you get in with many lots, you want to get out ASAP, with tight equally SL and TP!

    Which may be all for rapid brief I started here.

    Thanks

    Nice day!

  2. #12
    Thank you for clearing that up, look forward to hearing more from you

    Quote Originally Posted by ;
    The 5, 6 EMA, is 5 phase moving averages, applied to start with color Red and 6 period moving averages, applied to close with color Yellow.
    It can help to Identify a change in trend and they are lagging indior but make use of it to signal a confirmation of a fad.
    The ADX, is leading indior, it tells signal a trend sooner compared to moving averages, but it's fakeouts, that why one have to wait for confirmation and a confluence of occasion from the moving averages. And using the pivot point as your profit occurring place.
    I shall post the full ADX egy shortly, pls be on a lookout.
    Jamiu.

  3. #13
    Looking forward to the system release!

  4. #14
    Hi

    Is new to me personally that Adx gives historical entry signs....but possibly another use?

    regards

    lodol

  5. #15
    Hello Folks I want to present you the ADX before I tell you how I make use of it. It may be contrary to make use of this indior but it effective for me personally.
    I have to let you know that ADX is trend indior but sadly traders do not make use of it on daily trading, either weekly or yearly basis.

    The ADX (Average Directional movement Index) Indior </b>

    The ADX is part of the management movement system introduced by J.Welles Wilder in his book New Concepts in Technical Trading Systems. It includes the Directional Movement lines -- both the plus DMI line along with the minus DMI line -- along with also the ADX line (the Average Directional Movement Index)
    ADX is created with regard to both negative and positive directional motion and identifying sustained movement in 1 direction. While this happens ADX will rise (irrespective of whether the trend is lower or higher). Trend management is identified by whether favorable motion (DMI ) is over or under negative motion (DMI-). After ADX rises above a particular degree a trend can be believed to have been established.
    Although the average directional movement index (ADX) isn't used as frequently as a number of the most popular technical indiors the ADX line has certain benefits since it filters out a lot of the fictitious oscillator signs which are frequently given early in a movement.
    A trader can remain with trending positions more by following the simple guidelines for the ADX line. A rise by the ADX line over 40 followed by a downturn, signals an imminent end to the current trend (whether or not down).
    The ADX is significantly less useful during backward markets. During consolidation spans the ADX line will slip toward 10. When ADX approaches 10, a major movement is going to take place. But the ADX line doesn't tell you which direction it will go. You have to rely on indiors for the likely direction of the next move.

    In short, if the market is trending, the ADX line should be rising. During a protracted consolidation period the ADX line will slip toward a low number.
    To sum it up -- It signals the beginning of a trend, when the ADX begins rising from a level. The trend is supported when the ADX has risen over the 20-25 value along with the DMI lineup has crossed the --DMI lineup (in the event of an uptrend) When the ADX has attained an abysmal level of 40-50 and starts consolidating or turning down it can signals the end of the current trend. The ADX's decrease signals the consolidation or indecision of the market. The optimum use of this indior is to consider transactions when the ADX has started to rise from a very low level, since it suggests a sideways basing pattern was shaped and trends emerge from prolonged sideways periods giving exceptionally profitable transactions.
    He chart illuion shows how the ADX effectively signifies a range bound area along with also the breakout forming the following trend.
    Http://www.tradeology.com/images/adx.GIF Trading With The Trend - ADX Strategy </b>


    The currency markets have been known to trend nicely. At the same time, staying with it and grabbing a trend, isn't as simple as it appears.
    Price always moves in wave movement, forming impulsive and corrective waves and many a times a major retracement could be interpreted as a reversal, simply to see the trend continue.
    The market saying of ?trading the pullback? would fit this situation nicely.
    Consequently, if we can identify a strong trend and properly interpret the corrective waves of the trend as a retracement, it might make trading more profitable.
    Keeping this in mind we shall make a system which provides us the capability to trade pullbacks from the direction of the primary trend by combining 2 technical indiors.


    The advantage is the unique characteristic of every single gives us the joint interpretation which we're searching for.
    The first indior is the ADX with the standard setting of 14. It's a trend indior, which explains a sustained movement in 1 direction. Once the ADX rises above a particular degree a trend is said to have been established. You stay simply by observing the ADX isn't declining. An ADX reading of over 30 suggests a strong trend is in place and we shall use this parameter for our egy.
    The next indior is the Exponential moving average with a return period of 21. The EMA 21's fundamental use is that it frequently functions as a dynamic barrier of service and resistance. Within an uptrend price will remain over the 21EMA and much more loe support.
    By blending these unique characteristics of the above two indiors we today define our parameters to the system. We'll define by reversing the parameters the very same rules and a very long trade apply.
    Initially an ADX reading of over 30 is required, which suggests a strong trend is in place.
    After this parameter was met and price retraces back into the 21 EMA we've got a buy signal.
    We input the trade on the rest of the high of this pullback pub, and put the stop below the low of the entry bar. The exit would be when prices cross the 21EMA down.
    Http://www.tradeology.com/images/adx2.GIF
    And since we can see in the chart we've both long and short transactions completed successfully. It's a straightforward egy with a high likelihood of succeeding. Since we're going with the trend we're waiting for price to confirm our transactions. The drawback is the fact that it works in trending markets and shouldn't be used when price is range bound.
    The ADX (Average Directional movement Index) Indior </b>

    Pls Enjoy this introduction to ADX and I will post the use this indior for my own advantage.
    Good Luck and Happy trading....
    Jamiu.

  6. #16
    Is this with?

    Thanks for the information on ADX. . .very informative.

    How will you use the 5/6 ma crossover with ADX to ascertain the next candles direction?

  7. #17
    Thank you for the answer, is good that somebody appreciate the posting of the ADX egy,
    Well, I just make a little modifiion to my trading egy to make my trading more better by incorporating yet another 21 EMA moving average, now am having 3 EMA on my chart 5,6 and 21 EMA. This make price management more clearer. Thus I do not forecast the candles together with EMA, I just make use of to identify the tendency, but in which that power come in is behind the ADX, am current composing a book on the uses ADX to my our advantage and the way I use it to forecast another candle.
    I shall post the entire book on forexintuitive the moment it done, pls do be looking out.
    Thanks.
    Jamiu.

  8. #18
    How about giving us the principles of your own body.
    When we have any queries, we will wait for the publiion.
    Thanks

  9. #19
    hi jamiu....
    What period would you use in your adx? 14?
    Thanks for sharing your system.... I'm awaiting your ebook too...
    thanks ahead of time...

  10. #20
    Hello Again,
    Thanks for the article and replies, well the rule into the machine is simple; ALWAYS WAIT FOR CONFIRMATION from ADX along with the candle sticks pattern, I've alway love to mention Trading is not a race but just how much pips you create and the worthiness of those pips, so don't simply jump into commerce without because confirmation from your indiors.
    And Yes I use 14 interval for your ADX setting.
    Pls, be looking for the publiion.
    Thanks again.
    Regards.

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