How to properly use indicators 202 replies
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DislikedReference lines that are a closely guarded secret, candlestick secrets, secret ways of plotting Donchian channels that 95% of folk will never understand...... I can't help smiling to myself, and wondering what substance might lie beneath the expansive sales pitch.Ignored
Dislikednow i will post one of my charts, and i will explain to you exactly WHY everything is there and how it is important to me. and how to calculate by hand. with logic i can tell EXACTLY WHY, my chart looks the way it looks.
can you do the same?
Attachment
this is a five minute chart which means that every candle is composed of transaction recorder every five minutes.
the blue line is the daily open= it lets me see how price is trading in relationship to it, and most importantly it lets me visualize the DAILY CHART (if price is...Ignored
DislikedHi Red, and Happy New Year to you and your family. I was wondering if you have performed this kind of analysis on 4H and 1H charts, to put this 5M analysis/picture in "bankers perspective"?Ignored
Dislikedyeah it looks odd.
do the fibs by hand, that should solve the problem
example, find what was the highest price it reached, and the lowest price it reached then calculate your fibs.Ignored
DislikedAn idea:
Maybe the slant of the fib is off, given that of the run on the left isn't accounted for in your charts.
AttachmentIgnored
DislikedHow do you mean? The slant of the dotted silver line connecting the fib top and bottom?Ignored
Dislikednow 61pip stop? isnt that a bit too much? depends on position size
1:3 leverage = 1.86% risk to my account so i cap my risk to max of 1.86% and why because my statistics on my win loss ratio indicate 65% so that means that 35% of my trades are loser at 1.86% max risk i still have capital left over after a maximum expectancy of 35 consecutive losing trades.
now if i decide to enter price above open, how do i manage my risk exposure by decreasing leverage to 1:2, or 1:1 as to never expose myself >1.86%
Hi Red, IMHO, the...Ignored