DislikedHi folks,
I have battled my way through almost all the posts from the very start of this thread and the previous one inspired by PC. Thanks to all who have contributed so much! Sadly, as in all forums, it is littered with the inane questions of the freeloaders too lazy to do the work. I know what will happen to their trading accounts. Very sad and highly annoying to everyone. I personally think they should simply be ignored until they grow up.
I have tried the DIBS method very successfully over the past few days and the few losses I have incurred have been self induced by either bending the rules or errors on my trading platform which I am struggling to get a handle on. But I am a convert and think the method is fantastic!
I would also like to thank the folks who posted some of the very useful MT4 scripts. In return for your generosity in sharing your ideas I offer a simple Java program I wrote some time back to aid me in identifying market hours. Unlike the web based Java Script sites that don't account for daylight savings, this little baby should take care of that automatically. To the newbies it is essential to get your head around the fact that there is no "Official" opening time for the FX markets. Traders and banks worldwide seem to fire up around certain times and go home to the wife and kids more or less on schedule, but it is not cast in stone. Please use my little program with that in mind. It is a guide to when the action could show a change of pace. The screenshot is from an earlier version but the attached program shows both GMT and EST on the top line. Enjoy!
Personally I am on the sidelines at the moment as I think the market is way too uncertain pending the FOMC announcement later today. Good luck to all and I hope to keep in touch fairly regularly with this incredible group of people who have kept this concept rolling.Ignored
Thanks,
Jim
Indicators show the past. Price Action "Indicates" the future.