The trend following MT4 plug-in I’ve been playing with…
By · CommentsRight before I escaped to the lake in TN, I bought this little plug-in to play around with while I was away for a week. It’s something I like to do each year. I’ve never been much of a systems kinda girl but I do like automation as long as I can see some of the “thinking” behind the signals.
So I bought this program called LMT for two reasons, it was inexpensive and it was a trend following plug in that I thought would complement my Wave well.
Here’s a sample of some shots from early this morning. I am not usually up this early to trade but some late evening glasses of iced tea (no, not the Long Island variety!) seemed to keep from getting any sleep at all…
So here are two alerts as they popped up on my MT4 screen at 5:00am EST. There is also an alert window that lists the current and past alerts.
The signals are best taken in a trend and alert when there has been a correction and a resumption of the trend.
So — for example — the 15 minute USD/CHF was trending lower according to LMT and my Wave so the alert cam as prices bounced within the downtrend and then headed back lower after bouncing.
The reason I also included the 15 minute GBP/USD is that the Wave was sideways on this timeframe and this conflicted with the LMT’s trend direction which was up.
Now I don’t have a problem with the buy but for me the trigger would not be a trend follow or what I would call a “swing” trade but rather a momentum play.
Since the MACD Histogram was positive at the time I would be looking for a breakout through the downtrend line resistance plotted on my eSignal charts at about 1.6460. (check out my eSignal chart from 5:00am EST below)
The trendlines made for a great looking triangle pattern which was occurring in an accumulation market cycle and since that environment is not a trending one, I will not go with the LMT in these situations.
I’ll have more on this throughout the Summer but I just wanted to share this quick update as I continue to test and try the system for trend follow along with my Wave.
summer break…
By · Commentsfelling lazy in the hot hazy summer.
140 character posts are what I’ll be doing between now and September.
Risk Appetite, the dollar, and the Dow
By · CommentsI’ve been working on dissecting the movement in the EUR/USD. As I look at what’s happening in the U.S. Dollar I am not making the jump to a fiber/Dow connection. Looking at historical chart overlays of the EUR/USD and the Dow do not indicate this BUT I do see that the more good news we get the more risk appetite returns and we see this in Dow rallies. Since it is arguable that the dollar was a flight to safety (the oppossite of risk appetite) then it makes sense that money is moving out of well, money. The dollar sells off as the Dow rallies. I “tweeted” about this May 9th and I think we just keep seeing more evidence of this. I am going to expand on this and share the chart overlays I am looking later this week.
…makin’ some changes around here
By · CommentsI just returned from a great trip to Dallas to relax and hang out with my sister. It was great to be able to kick back with my Macbook and look at charts and feel the freedom of being able to trade from the road. It reminded me of what I like to do and the changes I want to make in my life and in my trading. I realized what a difference a laptop connect card, a laptop, my iPhone, and Forex-on-the-Go have made for me.
I’ve been wanting to make this site/blog more of a resource for the way I trade. I try to approach things with this though in mind: If I forgot everything I knew about trading, could I teach myself with my own articles and videos. I want to get back to more of that here at my blog.
You can see that I have changed the look and slightly the organization at the site. I have added more pages and on these pages will be more articles and charts that will help you make more sense out of my updates.
Speaking of updates. I do a ton of writing each day. I love it…I’m an English major but I find that too much writing responsibilities takes time away from my charts. Actually I will be retiring from teaching on my 38th birthday (this September). It’s my gift to me. I won’t be teaching as much as I will be taking all that energy and putting it into my charts and articles. So with that in mind, I will be updating this site with a larger single post once or (at most) twice a week. This way I have more time to research and write the article and it can hopefully be more instructive and insightful.
Ok, so that’s about it. Also, in September I will be starting to record video updates, it’ll be a sort of “Raghee TV” since I get so many questions and this can be a way to address those on a more regular basis. (I hope the camera is good to me!)
Finally I am on Twitter which as you may already know is also updated here on the blog over on the right side of the page. I will likely maintain this more on a daily basis with charts that I am looking at so you can follow me at http://www.twitter.com/ragheehorner
Thanks as always for your time!
(Acccount) Size Matters…
By · Comments“Your account size can’t the be only factor when it comes to how you’re going to manage your trade…but it is the main factor behind whether you should take the trade in the first place.“
Understanding How to Use Pip Movement Ranges
By · CommentsThe U.S. Dollar Index is Setting Up a Bear Flag
By · CommentsThe five day consolidation on the dollar has been angling higher forming a near perfect bear flag pattern. I like flags that occur over a relatively short period of time and have a price range that hits the support and resistance on almost each candle. This is pretty much text book in my opinion.
(CLICK TO ENLARGE CHARTS)
Good Causes. What can I give away?
By · CommentsOk my friends, a little experiment here. I am looking to help out an old friend who is raising money for breast cancer.
What can I offer YOU for your donation?
…phone time?
…personal visit?
…mentoring?
…a year of Autochartist?
…a year of EZ2Trade Software?
…private seminar in your town for you and your friends?
YOU tell me.
Let’s do something good together, I’ve already donated but am looking to do more. With your help we can do it…and maybe improve your trading.
That’s a win-win. You can email me
Per Your Request: GRaB 2.0 Tutorial
By · CommentsDow has broken the Wave: invest or trade this?
By · CommentsBulls are happy…and buying. Here’s today’s action on the daily chart of the Dow. We’ll see if there is any *buyers remorse* tomorrow. In the meanwhile: Is Wall Street happy about the new 1 trillion in government spending? Uh…yeah. I would say that is an affirmative. But if I know Wall Street…the joy will be short lived as (just like a spoiled brat) there is always something else that would make them happier. Funny how Wall Street behaves like a spoiled brat…or maybe not so funny.
