The AshFX System - Version II

[echnat0n]

Now NZD/USD is valid?

[MykeFX]

Originally Posted by Neo

Thanks for the quick answer. So, this setup would not be a proper signal then?-- http://forexmoments.com/forums/attac...-ii-eurjpy.gif The AO did not turn green till candle/bar opened. I just want to be clear that ALL indicators need to be in the correct position by the close of the current candle/bar?--meaning it's too late if they turn the right direction at the opening of the next candle/bar?--in that case you would need to wait till the NEXT candle to enter the trade?

Correct all have to line up. No don't take the next candle. wait til a new signal comes along. Check out Ashe's user manual on the first post.

So you mean just to look at the previous candle's high (or low) to find the swing hi/low?

Look for the previous lowest candle, the PSAR dot will help.


OK thanks, I understand that. But is the ONLY way to close a portion of your order to close it out at a different lot size than when you opened it? If you were counting on (say) 20 pips at 1 lot size and you hit that 20 pips, you don't want to close half of that order at 0.5 lots...that would give you half the profit than if you closed the order at the original 1 lot size, isn't that right? If my MM spreadsheet tells me that in order to make $200 (with a Standard account), if I open an order at 1 lot size and make 20 pips, I make $200. However, if I close half of the order at 20 pips for a 0.5 lot size, my profit now went down to $100 for those same 20 pips, is that right?

Right but you leave half open if you think it will go further in your favor, it might go 40 more pips. You have locked in some profit already, if you move your stop to BE your risk is now zero... you can't lose and have taken some profit already.

Cheers.

[yen44x]

Originally Posted by Neo

Thanks for the quick answer. So, this setup would not be a proper signal then?-- http://forexmoments.com/forums/attac...-ii-eurjpy.gif The AO did not turn green till candle/bar opened. I just want to be clear that ALL indicators need to be in the correct position by the close of the current candle/bar?--meaning it's too late if they turn the right direction at the opening of the next candle/bar?--in that case you would need to wait till the NEXT candle to enter the trade?

That's correct on all counts . . . that was not a valid signal, and ALL indicators must line up when the first PSAR dot appears and at the close of the current candle.

Originally Posted by Neo

So you mean just to look at the previous candle's high (or low) to find the swing hi/low?

Swing highs & lows were discussed just a few pages back on this thread. Here's the link: http://forexmoments.com/forums/3170-post1333.html

[Neo]

Thank you, Yen, I appreciate that. I actually saw those swing high/low pics last week...but since this system is intended for the Daily chart, or the 4H chart (and I know many people use it on lower timeframes), I couldn't tell exactly where to figure out your swing high/low are. Is the swing high/low basically just the highest (or lowest) previous bar?--is that how you set a SL for this system?

[d.weekley]

Originally Posted by echnat0n

Now NZD/USD is valid?

I would be very cautious. The last daily bar signal indecision - could be a hammer or a hanging man and the Non-Farm Employment Change comes out today.

[yen44x]

Originally Posted by echnat0n

Now NZD/USD is valid?

From the standpoint of AshFXV2 rules, if it wasn't valid the first day, it doesn't become valid later under any circumstances.

[yen44x]

Originally Posted by Neo

Thank you, Yen, I appreciate that. I actually saw those swing high/low pics last week...but since this system is intended for the Daily chart, or the 4H chart (and I know many people use it on lower timeframes), I couldn't tell exactly where to figure out your swing high/low are. Is the swing high/low basically just the highest (or lowest) previous bar?--is that how you set a SL for this system?

Take a look at the attached EUR/GBP chart as an example. I noted a few valid signals in the last few weeks (valid signals are highlighted with a yellow vertical line). To the left of the signal, you'll see a white arrow that designates either the swing high or low depending on the signal.

[Neo]

Thanks again Yen, this totally helps me get it!

I don't mean to be redundant in asking another simple question, but I want to be sure about this. In the attached picture, you see the PSAR dots forming above the high candles, but the first 2 dots are above green candles (I put some green arrows in there to show where). Even though the trend continues downward, the first 2 candles are green...by the time the 3rd PSAR dot forms, it is a red candle and all the other indicators are in place: Is that an entry signal?--the first PSAR above the red candle?--even though there were 2 PSAR dots on 2 candles before it, but the candles were green? Or is it not a valid signal because it's not the first PSAR in the new direction?

Thanks again.

[yen44x]

Originally Posted by Neo

Thanks again Yen, this totally helps me get it!

I don't mean to be redundant in asking another simple question, but I want to be sure about this. In the attached picture, you see the PSAR dots forming above the high candles, but the first 2 dots are above green candles (I put some green arrows in there to show where). Even though the trend continues downward, the first 2 candles are green...by the time the 3rd PSAR dot forms, it is a red candle and all the other indicators are in place: Is that an entry signal?--the first PSAR above the red candle?--even though there were 2 PSAR dots on 2 candles before it, but the candles were green? Or is it not a valid signal because it's not the first PSAR in the new direction?

Thanks again.

Here's the rule directly from Ash in post #1 of this thread:

"Sell: When the first PSAR dot appears above the candle, AND stochastic is crossing down but is not oversold (i.e. not below the 20 line), AND the AC is red, AND the AO is red, AND candle is red (bearish candle). Only enter once the candle has fully closed."

Every potential trade signal is set in motion with the first PSAR dot. If all the other indicators don't line up correctly, it's not a valid trade signal.

[d.weekley]

Originally Posted by yen44x

From the standpoint of AshFXV2 rules, if it wasn't valid the first day, it doesn't become valid later under any circumstances.

True, still, following the rules I had a successful trade off the 4H chart - although it was a perhaps little aggressive because the stochastic reading was 26