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Question from Sean:
"My question is around the timeframes for the Short Term and Long Term signals. What sort of position open to close timeframes are you using the signals for ?
If you're using H1 timeframes, is Forex Killer suggesting that the Short Term signal should be opened and closed within a single one hour period?"
My reply:
I can understand your confusion. Forex Killer doesn't provide you with a clear exit strategy. But it recommends you to either exit your trade when the signal turned into a no trade condition or into the opposite direction you've taken. Hence, continuous price monitoring using the latest H1 closing prices is still required after your initial trade entry.
In summary, exit with no trade condition will be the most conservative approach, followed by exit with a reversal in the trading signal. My strategy is the less conservative one, I use fixed stop loss and exit only after a few hours later.
So, trading results will vary depending on which time frame you trade and your chosen exit strategy.
10 comments:
I am quite confuse to use the Forex Killer software as the instruction given in the manual is too brief to be a good step by step guide.
If you extracted H1 chart from H1, is that mean you are going to set 1Hour as the Timeframe?
Looks like you have to key in the 10 last peak for long term cause when i tried to use the extracted data from MT4, it still use the last 10 closing price.
After press the calculate button, it show sell signal but when you look at the MT4, the trend MA indicator and RSI is going up...really confuse
I really dislike the concept of finding+keying the last 10 peak for long term. Hence, I just load up the H1 data required for the algorithm. Whatever comes out from the long term signal will only be used as a reference or further confirmation of the short term signal.
For the short term signal, it is all about the price action of the last 10 bars. You can try the following simple test cases in trying to understand the working of the software algorithm. Type in the following combinations and calculate.
a)1,2,3,4,5,6,7,8,9,10
b)1,2,1,2,1,2,1,2,1,2
c)1,2,3,4,5,5,4,3,2,1
d)7,6,5,4,3,2,1,2,3,4
e)6,5,4,3,2,1,2,3,4,5
Hope it helps.
i have a big question, i follow the instruction tat keying the 10 closing price, but i notice that when is it sell or buy?cause like 10,9,8,7,12,9,8,13,9,4 it is sell signal, when like wait the next signal like 5 den become buy.3,2,5,3,7,5,9,7,12,9,is it no trade, but if the next is 13 the follow is 10 n follow is 15 and 12 u will notice that the trend is up but it keep tell u sell. haiyo... how to trade like this if we continue keying?1 time long 1 time short 1 time no trade
i have compare 2 version 1 is 1.0 and 2.14, i can see this 2 version is alot of difference, now i think version 1 is more OK .but the problem oso exist, how to do actually? y no trade and keep tell u sell not buy?how to solve when alot of this signal when come out in forex?
Thanks for the above comments. It is best to use the load data feature instead of keying the price value yourself. It could be confusing at start, and it actually took me a while to get myself into the current trading routine. Simply check out my reviews about forex killer trading.
Well.... round about every blog posts online don't have much originality as I found on yours.. Just keep updating much useful information so that reader like me would come back over and over again.
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