However, I'd prefer to chase it with the 4H pointing in our direction, given we are fighting an overall down move.
If you go in, chase it just for a few pips and when you see profit take it.
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DislikedThere could be a long move there...wait for the 5M for entry in this case.
However, I'd prefer to chase it with the 4H pointing in our direction, given we are fighting an overall down move.
If you go in, chase it just for a few pips and when you see profit take it.Ignored
DislikedFirst, 10X Spud for that thread !
I'm trying to learn the stochastic's behavior. But it is very difficult to sit in front of the screen for hours and just look at the actions.
Recently I have started to use a way which is a very good one for me. I'm using a screen reccorder program - "Camtasia" and I'm recording the screen for several hours. Now, one of the options in the recorder is the playback display rate. for example, I'm recording 1 frame per sec, and set the output to 15 frames per sec. So actually, I can replay 15 minutes only in 1 Min, or 1 hour in 4 minutes!
In that way I can see hours of price+stochs actions in just several minutes !
And it's perfect to learn the stoch's behavior that way.
Attached here an example of screen recording for 15 min, in a clip of 1 min. Just open the ZIP, and run the HTML file (which will play the SWF)Ignored
DislikedHi Spudfyre, well done on your committmnt to your journal and thanks for sharing. When you first enter a trade,, what initial stop loss do you set, if any? (I know I read it somewhere )
I also went long (see post #409) for my first ever trade, had only set up my chart screen and saw the trade developing. My picture below captures the trade. Entry occured at the bar with the red box beneath. At this point, 15M stoch was approaching 80 while the 30M had started on it's course having turned up from 20. Also, at this time, 4H had reversed direction and looked like it too was heading north. I was waiting quite some time for the 1H to reach 20 and then curl up. It never hit the 20 mark but slowly turned up and this is when all was in sync.
I think I remember the 30M reverse as highlighted by the blue shading. I was thinking "aahh crap" coz I also noticed the bearish Pin Bar appear as well. I'd placed my stop near the recent 15M low before entry and ultimately got stopped out.
I'd really appreciate any feedback you can give me on how to improve my next trade. perhaps wait for better syncronization, better stop placement etc?Ignored
DislikedI'm sorry to post another chart in your journal SPudfyre, just made up for the earlier trade, long entry 2 mins before close of last completed bar as indicated by red lines. Appeared to be much better sync, and a very nice Pin Bar was almost formed on the 4H.
Price 10mins ago shot up and then shot down but I'm going to try and ride this escalator up to the third floor
Thanks again for this great system!Ignored
DislikedGreat idea! Just had a look...what a great way to see the movement. Definitely a must get item.
Found a free screen recorder called Oripa Screen Recorder. Easy to use.Ignored
Disliked10X!
Can you adjust the playback rate at that program ? because that is the most important thing if you want to learn the activity. otherwise you'll have to watch hours of recording...
Anyway, I have put the demo at: http://forexsignals.ctrlalthost.com/
So you don't have to download it.
In the next days, I'll record hours of activity and put it at this URL, so you can all learn from it.
(Of course if you have a screen recorder you can do it yourself (: )Ignored