Semafor Trend Trading - MT4/MT5 Resources
I am a trader for about 7 years. I had gone through many systems searching for the Holy Grail until I realized there was no such thing! I wouldn't call myself an expert, but with the help of this forum and many others along the way (mainly John Thomas from Kitsap and Dredding82 who showed the power of Semafor) I'm confident and successful.
Before posting, please understand the rules:
1. Semafors repaint (I know this). So please don't comment on its repaints, they are just guidelines.
2. This worked for me, this is just information that hopefully helps other traders.
3. Please be polite and look after each other. This is a friendly topic where we can learn together.
4. I will not provide you with trading signals and will not be responsible for any gains and/or losses you may incur from trading this system. This is just a sharing of what I have found to work for me.
Keep talking about the good stuff. I learned to keep it simple. Here are the tools you need:
1. 3_Level_ZZ_Semafor (Dredding82's thread has a good one) (you can find it here: http://www.forexfactory.com/showthread.php?t=308231)
2. Pivot indicator (I use SonicR control panel) (you can find it here: http://www.forexfactory.com/showthread.php?t=114792)
3. (Optional) If you want to see the trend more easily, use some kind of zigzag. I posted one below.
The important thing to know is that trade comes with trade! Semafors come in 3 sizes (small, medium and large). This is how I trade them:
Buy:
1. A large or medium signal appears at the bottom (displays the extreme level)
2. The price moves higher, forming a top signal
3. Then it falls, but does not form a "new low", creating another new signal ("higher low") (in most cases, a low, then a high, then a higher low confirms the uptrend)
4. Buy the breakout high of this candle. (usually a "bullish engulfing candle")
sell:
1. Large or medium signal appears at the top
2. Price moves lower, forming a signal line at the bottom
3. Then moves higher, but does not make a "new high", creating another new signal ("lower high") (in most cases, a high followed by a low, then a lower high confirms a downtrend)
4. Sell the breakout low of that candle. (usually a "Bearish Engulfing Candle")
Your goals depend on the time frame and where your pivot points show support or resistance. When buying, I typically set Fibonacci retracements from the highs to the lower lows and target the 161.8% retracement. The opposite is true for selling. My stop loss is always a few pips above the lower low or higher high used to establish the trade.
The Trading Explorer went live on 13th September 212 (This account will only trade system trading signals so that we can get an accurate picture of profitability.) This account is a "live" account, not a "demo" account.
Here is an example:
Before posting, please understand the rules:
1. Semafors repaint (I know this). So please don't comment on its repaints, they are just guidelines.
2. This worked for me, this is just information that hopefully helps other traders.
3. Please be polite and look after each other. This is a friendly topic where we can learn together.
4. I will not provide you with trading signals and will not be responsible for any gains and/or losses you may incur from trading this system. This is just a sharing of what I have found to work for me.
Keep talking about the good stuff. I learned to keep it simple. Here are the tools you need:
1. 3_Level_ZZ_Semafor (Dredding82's thread has a good one) (you can find it here: http://www.forexfactory.com/showthread.php?t=308231)
2. Pivot indicator (I use SonicR control panel) (you can find it here: http://www.forexfactory.com/showthread.php?t=114792)
3. (Optional) If you want to see the trend more easily, use some kind of zigzag. I posted one below.
The important thing to know is that trade comes with trade! Semafors come in 3 sizes (small, medium and large). This is how I trade them:
Buy:
1. A large or medium signal appears at the bottom (displays the extreme level)
2. The price moves higher, forming a top signal
3. Then it falls, but does not form a "new low", creating another new signal ("higher low") (in most cases, a low, then a high, then a higher low confirms the uptrend)
4. Buy the breakout high of this candle. (usually a "bullish engulfing candle")
sell:
1. Large or medium signal appears at the top
2. Price moves lower, forming a signal line at the bottom
3. Then moves higher, but does not make a "new high", creating another new signal ("lower high") (in most cases, a high followed by a low, then a lower high confirms a downtrend)
4. Sell the breakout low of that candle. (usually a "Bearish Engulfing Candle")
Your goals depend on the time frame and where your pivot points show support or resistance. When buying, I typically set Fibonacci retracements from the highs to the lower lows and target the 161.8% retracement. The opposite is true for selling. My stop loss is always a few pips above the lower low or higher high used to establish the trade.
The Trading Explorer went live on 13th September 212 (This account will only trade system trading signals so that we can get an accurate picture of profitability.) This account is a "live" account, not a "demo" account.
Here is an example:
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