HAC & RAC - A Simple-Minded Approach
Hello everyone,
I wanted to share a system I'm developing to gather input and criticism from more experienced traders. I have only recently started trading a live account and frankly, it scares me. I have been studying the Forex market continuously since the spring of 2013, during which time I have tested various systems; systems that others have been successful with. For some reason, either ego or the creative spirit, I had to design my own.
I also found that I needed something that would keep me from getting confused; something that would clearly tell me when I was wrong, how much to risk, and what a reasonable profit target was.
I've thrown in some ideas from a few places, but mostly from FXAlien 's thread. Many thanks to him, he is a dear teacher. I studied his methods for two years and I am so grateful for his generosity of spirit. His concept of multiple time frame analysis makes perfect sense to me, but the difficulty is that I have Asperger's and tend to focus too much on things. There's a lot to like about Alien's systems (and I think they're great), and I feel like it's easy for me to focus on one thing and ignore others. Anyway, I have to try to summarize some elements and see if I can find a way to do the job of many indicators using only two indicators. Additionally, there must be nothing left to explain—the fewer “if this, then that” scenarios the better.
First, I will explain the basis of the indicator. Next, I'll explain how to best use them (to the best of my knowledge).
I wanted to share a system I'm developing to gather input and criticism from more experienced traders. I have only recently started trading a live account and frankly, it scares me. I have been studying the Forex market continuously since the spring of 2013, during which time I have tested various systems; systems that others have been successful with. For some reason, either ego or the creative spirit, I had to design my own.
I also found that I needed something that would keep me from getting confused; something that would clearly tell me when I was wrong, how much to risk, and what a reasonable profit target was.
I've thrown in some ideas from a few places, but mostly from FXAlien 's thread. Many thanks to him, he is a dear teacher. I studied his methods for two years and I am so grateful for his generosity of spirit. His concept of multiple time frame analysis makes perfect sense to me, but the difficulty is that I have Asperger's and tend to focus too much on things. There's a lot to like about Alien's systems (and I think they're great), and I feel like it's easy for me to focus on one thing and ignore others. Anyway, I have to try to summarize some elements and see if I can find a way to do the job of many indicators using only two indicators. Additionally, there must be nothing left to explain—the fewer “if this, then that” scenarios the better.
First, I will explain the basis of the indicator. Next, I'll explain how to best use them (to the best of my knowledge).
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