Daily Chart Trader Strategies and Indicators - Jim Brown
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- Опубликовано: 18 июн 2024
- In this episode of the Desire To Trade Podcast, I interview daily chart trader Jim Brown in Da Nang, Vietnam.
Jim Brown's books: geni.us/Xj7Ior
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Chapters:
0:00 Intro
0:10 Introduction to Jim Brown
2:26 Different indicators in use or are being tested
3:10 Jim’s thoughts on adding something new to his trading strategy
5:20 What to look for in the charts
5:33 The Daily Chart
6:31 MACD
8:19 QMP Filter
14:36 Explaining Divergence
20:18 RSI
21:34 Regular and Hidden Divergence
22:58 The difference between the two types of divergence: regular and hidden bearish/bullish divergence
26:55 Four-hour chart
29:38 Discretionary trading situations
30:47 How long it takes to go through the 28 pairs
33:34 How to get the indicators Jim uses
34:31 Jim’s books
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My name is Etienne Crete (from Montreal, Canada). I'm a swing Forex trader and help aspiring Forex traders develop a trading method that works for them so they can produce income allowing them to live with more freedom.
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If you truly want to succeed in Forex trading, I believe you need to keep working on yourself so you can improve your strengths, but also your weaknesses. Do not focus solely on what you're good at.
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Hey Etienne, thanks for taking the time to chat with me. Always good to catch up with you when you are in town. And just for your info and that of your subscribers, I did make a bit of a mistake at the 21:48 min mark of the video, where I called that bearish divergence as Hidden. I was right the first time when I said Regular. Don't want to confuse anyone, and I would suggest you check out the divergence education slides as mentioned around the 23:10 min mark, if divergence is something that interests you. And thanks for the kind comments regarding the interview. It is appreciated. Cheers.
Awesome precision, Jim! Thanks a lot!
you the man jim! very good informative information.
Really enjoyed watching this interview, spend the whole afternoon setting up QQE adv & Macd Pl. , the signals are looking really good, I'll set up an EA just for the sake of it to see what kind of performance it has had in the past, also interested to see how it fares on H4.
Anyway, really well explained & I love when there are interviews / podcasts like this where we go more in the details & technicals of a methodology.
Thanks Jim & Etienne for this episode.
@@jesseliverless9811 No worries, and I'm happy you got something from it. I thoroughly enjoyed catching up with Etienne and explaining the way I trade. It's not for everyone, but it may give you some ideas, where you can build your own trading system. Good luck in the future, and thanks for watching. Cheers. Jim
Good afternoon Jim. I would like to ask, do you use the TMA bands sin your trading?
I bought one of his ebooks. He has a good system. I took a part of it and tweaked it to fit my style.
Buy these books! I was a licensed stockbroker back in the late 1980s, so I guess it's safe to say I am familiar with a lot of the concepts and actual applications thereof covered in the book. But about a week ago, I stumbled upon an interview on Etienne Crete's Desire to TRADE RUclips channel. It featured Jim Brown, who is an independent trader and has been trading forex for about as long as I have. Interestingly I noticed he started talking about the old Rebellion trading system which uses the qqe indicator, and he also employs the use of divergence. That immediately struck me, as those are two of my favorite tools that I use in my trading that I am quite successful with. I also followed his thread in the forex factory back in 2013, but it seemed to end after about 13 pages so I thought that was the end of that. Because I'm cheap and inquisitive, I went back and looked at that old thread and spent the day getting those old indicators and the EA's. A few of them still work, but they were written back before the big change of the mql4 code which I believe change significantly around 2016. So I decided to cough up 20 bucks and buy the two books on high probability and divergence. Then I discovered that because I'm outside of the United States, not too far from Jim who is apparently still in Vietnam, that I could not easily buy the book either from Amazon or the other competing book dealers. I should tell you at this point that trading really isn't that difficult once you get the basics, and you can get the basics by reading these books in the course of about 2 days of easy reading time. The problems that I have living overseas, of which there are many, is that you have to be extremely creative to get things that you take for granted in Western countries. So what I ended up doing was opening an Amazon Web Services VPN that was based out of Oregon, in the United States. It costs me about $3 a month, but with that VPN I was able to go online and purchase the online books. I was also able to use the Kindle cloud reader on that AWS VPN. So for you people living in faraway places, that's the easiest way to do this. The Barnes & Noble online Nook reader or the ePub reader are NOT going to work overseas either, so don't waste 4 hours on that as I did. In a nutshell, even though I knew most of what was in the books already, I assure you that if you are a new trader this is the way to go if you want to actually succeed in trading which has an extremely high failure rate unless you have the knowledge that's in these books. As I said, I had already been using the qqe and the divergence. But it was refreshing to read these books and just know that there was another soul out there that thinks as I do, or rather I think as he does ...and we are both successful using this system, which if you have the brains to make your own vegetable soup, you can make Jim's system work with great ease. I will mention that when you buy the book, you get the indicators, and if you leave a nice review like I'm doing right now you're supposed to be able to get the EA which I wanted some 8 years ago. I will tell Jim right now before I forget that the next time he makes a book like this, is to put a border around the pictures and illustrations and extend the border down a little way, and then put the text or caption for that image down there in the border. That way the text or caption that describes the image is actually attached/embedded to the image and isn't going to float around due to a problem with what is called "impositioning" when printing a physical or e-book. I used to be in the magazine business that's why I know that. If you're a complete beginner at trading forex or trading anything besides marbles, buy all three books. Otherwise, I highly recommend you buy book number two which is high-probability trading and then get book number three which fully explains trading with divergence. It may interest Jim to know that I have an excellent divergence indicator that automatically plots the lines that he draws in his illustrations. So if he has the fortitude to read this and contact me, he'll have something extra nice to add to his next book or revision to the already excellent book on divergence. I am confident that if you read these books and follow his instructions (his grammar is perfect by the way, and he must have a good proofreader as there is not one spelling or grammar error) you will be successful at trading, whether it be from your palatial home, or a makeshift bedroom in the basement or garage at you Mom's house (because you used some other guru's method or martingale EA), ...or even from a little Hut on some deserted tropical island that happens to have solar power and a satellite. How cool is that?
Interested in your divergence indicator 🙏
Loved this one Etienne and Jim loved the first one as well many thanks !!
Great ideas E. Always something different to 👍
Thanks E great interview.
I enjoy every min. of it. Etienne, you did it again. I m getting Mr Brown books ASAP. thanks
Awesome!! Happy to hear that!
What an amazing interview. Thank you so much! Will buy his books for sure!
Wise move!
Thanks Jim for books and videos. Your system helps me greatly to improve my trading. Keep up the great work. Thanks again for a difference you are making
Great stuff, working on getting the hang of this strategy. Thanks for the video and info man. keep it up both of you.
👍
What a good video, enjoyed watching that, great strategy from Jim also 👍. Nice one Etienne 🙂
great interview
🎯💪🏼 Thanks guys!
Jim's system works awesome if you follow his guidance and use the moving averages as further confirmation. Once you load the template it's pretty easy to look back and see countless times where trades will work out more often than not, especially on higher timeframes like the daily. Highly recommend it.
Thanks for the comment, J!
Awesome video Etienne! You inspired me to make trading education videos of my own!
Awesome!
Just watched your video - very good! Thank you. Jim mentions a Facebook page to subscribe to but I cannot find it! There are quite a few Jim Browns out there! Any chance of a link at all, please?
Thank you for helping me discover new traders and the resources they offer, like Jim's books, a great contribution and clear guidance amid all kinds of scams and trash quality education the internet is filled with. Thanks again! Please keep interviewing good traders! They're examples to follow.
Thanks for the comment, Felipe! Will do :)
Etienne, your interviews are GREAT!
I'm happy to hear that, Paul!
What a video I got stuck building my algo and this gave me so many ideas thank you so much!
That's really cool to hear, Bryan! Thank you for the comment!
Keeping it simple I love it
Excellent!
Very nice Etienne, very nice!
Where do I find this template?
How can I set MACD Platinum in my mobile Mt4 app
great video and great strategy. would like to backtest it. Does anyone has a link to the MACD Platinum inidcator? Thanks in advance
Jim gives his indicators for free when you purchase one of his books: geni.us/Xj7Ior
does trading map reality?
or are they seperate?
The thing I found funny was when Jim said 'He likes to keep things simple!'
Allo, Etienne. Je suis de la Ville de Québec. Je suis un débutant, et ici pour apprendre. Merci pour le contenue.
J'ai reconnue l'accent Québecois au travers de ton anglais. :p
Which trading platform are you using to trade on because I use TradingView and it doesn’t have that MACD indicator
Jim is using MT4
Can we know at what age Jim came into the world of trading ?
For the setting EMA at 6:03
Thanks for watching, Mathew!
Looking good Jim
Anyone who dislike this interview is a fool. Thank's Etienne and Jim great content.
I'm glad you liked the interview! Thank you so much!
Super
Anyone trade weekly time frames?
How can I get a copy that indicator
You get them by reaching out to Jim after buying any of his books: geni.us/Xj7Ior
Etienne Crete - Desire To TRADE though he was just using MACD?
Can't understand Hedging word used in this video, Can't understand what is customized MACD shown in chart, to some extent understand divergence cases shown in video. May be need to read more details in his books.
The book would definitely explain it more in-depth :)
The lesson start at 5:31 👍
Cool!
Which timeframes is he trading?
The majority of my trading is done on the Daily charts....
Jim Brown What other time frames if any do you use for entry
@@DeezNutsInYourMouth101 I will sometimes drop down to 4hr, 6hr, 8hr or 12hr charts, but the trading will be based on the setup from that particular time frame and not the Daily chart. There are times when I could be long and short at the same time on the same pair, which is not really an issue for me. And every now and then if I am not that convinced of my Daily chart signal, albeit a valid signal, I may ignore taking the trade on that time frame and then drop down to the 4hr chart and only take valid trade signals in that same direction as the Daily signal. I hope that all made some sense. Cheers.
Jim Brown appreciate your reply, I like your style
Jim looks like Michael Keaton lol
He sure changed his hairstyle from a year and 1/2 ago :))
How can you be a daily trader and not stick with the trend, taking buys along with sells and then it continues in the direction of the trend seems silly
when looking at the past, everything seems simple and easy, but when u are in the current time, those indicators dont work as show on the video, wouldnt have made life so much easier
Ishak AISSA you are talking about repainting indicators, those are bad never use them. If you want to trade TA you need custom indicators( you can find a lot on some websites, just google it) and you need to properly backtest them on at least a year of data and multiple pairs, if you found indi that has60-70% success chance it’s great keep it.
Wayyyy to many indicators dude. There is nothing simple about his style of trading. His chart looks like a 3000 mile road trip to nowhere. If he was a math teacher and i wanted to learn trigonometry he obviously would be the go to guy for that. But as a newbie trader trying to learn how to simply just trade hes definitely not gonna help me with that.