any sema is important. not only the 2nd, 3rd, 4th, 5th or even the 6th.
semas in m15 should be geared toward intraday trading. the goal of this specific trading strategy is to make money everyday.
your idea of making it totally automatic might fail. i'm not trying to discourage you or anything. just a friendly warning. i said before that you can only automate this trading strategy (or any trading strategy for that matter) up to the point before the decision making. you have to decide whether to enter the trade or not based on the trading experience/knowledge that you have accumulated all these years. this is where you make use of your brain power to add to your edge (the system). and obviously, you can't put this kind of thing in codes (unless your coding ability is superb and could cover all possible angle).
let me help point out why the idea might fail:
1. you really should never filter the entry point. i said before that any sema is just as important as the one next to it. also, you don't know for sure how far a 1 or 2 or 3 will go. check the market using the 3lzz and TRO dyn fibsr and see how my words stand true. more importantly, by filtering out the entries you will miss a lot of potential profit and/or the chance to recover the loss(es) made during the day. remember a 20 pips profit is small but they adds up.
2. placing the SL behind the sema might bring you greater loss. remember that there are times when the market is so hectic a candle can go beyond 15 pips plus your spread. also, be mindful that there are also fake/failed entries. imagine if according to your tactic (putting the SL above the sema) the SL is only 10 pips and then the price move against you and hit your SL and then this condition repeats several times. the spread will add up over the course of time. the larger the SL the less likely it will get hit repeatedly and vice versa. but too large of a SL will bring disaster to the trading account. 15 pips plus spread is common zone for years now. it might change in the future though.
3. although i mentioned that the take profit is between 20 to 30 pips (most of the time) it does not mean you should close orders strictly on those levels. this is where the brain comes into play. you have to see where the market is heading and how strong it could be. so it's more like open TP with 20/30 pips in consideration. you can see how the price sometimes far exceed 30 pips. if you close for 30 and then the price move another 20 pips then it's not a big deal. but surely you'll hate it when you settled for 30 and then the market went 60, 80 or 120 pips more without any other entry signal in between. sadly, this thing is hard to code.
4. you can definitely experiment with how you manage your trading account but keep in mind what i said in the first few posts... certain things just don't work well when you put them together.
in the end... i might be wrong in all that i said above. so please experiment and keep your mind open to other possibilities to improve this trading strategy. it's shin kaizen anyway
semas always appear first and any line comes next. always. keep in mind that the semas repaint and that nature alone means it adapts to the changes whenever price dictates. that is if we are talking about the top/ultimate top or the bottom/ultimate bottom of the chart that you are currently looking at. the keyword here is the chart that you are currently looking at. don't change the TF and make comparison
but then again, i could be wrong.
the confirmation technique used in this strategy comes from the semas. the 1st thing that we must watch is the SW indicator and then the sema. by using this kind of tactic i can gauge the trading opportunity after the candle is closed (provided there is a sema above or below the current candle and there is a support from the SW).
yes, you are right. those who wish to know where the semas first appear can do so by using TRO_DYN_FIBSR that you can find on this forum. use 3 TRO_DYN_FIBSR indicators on your chart and then set each of those indicators to match the value of the semas (5, 13 and 34). however, it is far better to be there when the sema (any sema) appear so you can train your guts to enter the market. the 3lvzz has sound alert anyways
yes, we must follow the semas. repainting indicator can work awesome magic provided we know how to work with it
I browsed posts by MO on this forum and guess what I found regarding leverage:
It would be dumb if you did not take advantage of the awesome leverage that Forex has to offer and keep most of your money at home:
to make sure you don't miss the whole point please see the original source of that quote: http://kreslik.com/forums/viewtopic.php ... c&start=20
i said in a few pages back that i won't be posting anymore but i guess i won't be able to do that since there might be important questions from new members regarding this trading strategy. but honestly, i can't post that often since i only have limited time in posting. so, if you have any question please just put it here and i'll try answer it. thank you for your understanding.
The gap between reality and dream is called action.