25 Comments

  1. Of course, thank you. And, here's an interesting observation I'd also like to share in a comment here. Talking about Moving Average Crossovers. There are multiple ways of alerting of a Moving Average Crossover (MT4 is awesome). My MA_Crossovers (I just sorted through them) are of 3 types. First, the classic, simple and straightforward: a.price closes and new candle opens, b.Slow Moving Average is now below the Fast Moving Average having been above on previous close, c.alert of Cross Up; Second, the Emasma cross, what I like to call it, that's when FastEMA crosses FastSMA above/below the SlowMA (this may appear like a triple MA read, but it's effectively two, right 🙂 Third, …well, actually this is a variation on the Emasma cross, so 2.b. really, not 3, but anyway, instead of using FastEMA and FastSMA above/below a SlowMA, it uses a FastEMA of Opens and FastSMA of Closes, i.e., while MA_METHODs stay the same as in 2.a., APPLIED_PRICEs differ in 2.b. . Either way, clusters of MA crosses of different variations tend to occur in certain areas (Support/Resistance Zones) So, how many variations of MA Crossovers can there be? Let me think – bland or emasma, then period, method, applied_price; now…we are using two periods, fast and slow, then we will have 4 methods (in MT4, it's simple, exponential, smoothed, linear weighted, but of course, you could try adding custom types, but let me just stick to 4 right now) and 7 applied prices (open, high, low, close, median, typical, and weighted) This way, there are 7^4^2^1=7^16=33,232,930,569,601 possible ways to look for a moving average crossover…well, let me bring this down a bit, why did I use exponentiation, that might not be right, there's 7 applied_prices, there's 4 ma_methods, and there's one fact of a crossover, so that'd be 7^4^1=2401 and now, if I exclude some of the applied_prices and some ma_methods this number can be reduced significantly, i.e. 6^2^1=36, so at any moment, on whatever time-frame I'm looking at, there can be between 0 and 36 moving average crossover alerts active, i.e. I could have a report card saying: Bullish MA Crosses: 27 or Bearish MA Crosses: 12 depending on whether or not they occur, for example @ 2019.11.22 04:00 Bullish MA Crosses 12 (NZDCHF hourly chart) but @ 2019.11.22 07:00 Bearish MA Crosses 22 (USDDKK hourly chart), so is a below average score of 12 better than an above average score of 22, or what? lol, and it comes back to adding yet another variable to filter the analysis, i.e. it depended on the pair, it depended on the time of day, it depended on many different other things, not including chance, and then also, chance. The more important thing is, I guess, is to choose my way. So I made this graphical object indicator called BullsWay and one called BearsWay, based on the Pivots indicator that Wayne McDonell uses here, with target for the Bulls and target for the bears. It looks promising. So, BullsWay or BearsWay with TradersWay. Unfortunately, I can't do it with TradersWay right now because I blew yet another live account so, I just have to wait for my check to come from another broker then I'll add money to my TradersWay account and go either the BullsWay or BearsWay with TradersWay.

  2. Thanks Wayne, pretty much have to watch you on video due to other stuff going on in the life, but have learnt so much these past 12 months so feel very fortunate to have found you.

  3. Hey Wayne

    This is just a thought about your morning trainings. I love them and listed either to the recording or live.

    There's a LOT of GREAT information about what you love FOREX. I would imagine that for the newer crowd that is trying to learn what you do because it is second nature for you would be hard thought for newbie. When you say that we should spend 30 hours a week for 4 years trading a demo account before we ever out real money on the line is a bit daunting.

    It would be great if you could spend like a half an hour daily dedicated to the newbie with some sort of basic training like, how to spot a reversal pattern, or head and shoulders ………. why they signal what they signal….. you can see where I am headed.

    How to set up a trading plan and execute it and have it weeks before, not hours or minutes, more on all of the seasonalities and what causes them.

    I love the training you have done on telling all of the watchers about Swaps. I have followed your lead and won a lot and accrued a lot of swap in the process. Great Job. I have NEVER heard that from any other FOREX Guru. It works!

    Just a few suggestions to help you gain even more loyal followers like myself into the Wayne McDonnell Guru Clan

    Again….. lots of GREAT information. Keep it up Wayne

  4. Couldn't make it for the session but this was great wayne, seems like there are a lot of new guys recently. You broke down the basics really well for them.

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