Hi Rob,Senior Rob wrote: Mon Feb 03, 2020 2:58 am
Hello XARD, as per my first post (1160), I am working my way through all the posts but since I had spare time this week-end, fast forwarded to recent posts and came across this. Well, surprise, surprise, it seems my "stone age kindergarten strategy" may not be "old" after all!
The semafor has been central to my strategy for a good number of years and part of the reason why I am consistently profitable. I use 2 semafors, one to indicate the major swings and the standard one for minor swings. I use stochastics and macd to confirm, nay, add confidence, to pulling the trigger.
I wait for the major swing to be identified by large red and green balls and then wait for the first blue "2" ball, confirmed by my indicators, to enter my first trade. I then bank profits on the next red "2" ball and re-enter on the next blue "2" ball. Sometimes, I will counter trend trade the red "2" ball if the pair is really volatile. I then continue to "rinse and repeat" until a large red or green ball starts "flashing".
I have traded price action since my futures and commodities trading days and need to see "real" Japanese candles so I can understand price action. I tried to learn/understand Heineken Ashi candles but could not as, to me, the price action was hidden. I use price action to add on during the trend and enter and exit trades in conjunction with a semafor ball.
I live in Southern California (Pacific Coast time zone) so am not able to take advantage of trading after the "open" and can only trade the NY session. NY likes to counter trade the London trend and many times does "Stop Runs" so I have to quickly "get in the minds" of NY "big boy" traders. The NY over lap with London seems to be where all the action takes place and dies off after London close but after 2/3 hours, all the profits have been banked anyway.
I only trade GBP pairs as they have the most volatility and determine what the "big boys" are focusing on by measuring the London range of each pair.
I am sure your semafors and other indicators are way ahead of what I am using so I will download your latest stuff and run them in parallel with my "stone age kindergarten" strategy and report back if that is OK with you.
To answer your question though, "Trading off the 2nd dot ("2" blue ball) is VERY profitable.
Cheers,
Rob
Your "stone age kindergarten strategy" doesn't look bad and can be a very good addition to Xard's strategy as an extra confirmation. Could you please post the version of Semafor indicator that you're using? Thanks.