Trading technical analysis system based on Igrok method 137 replies
EA adventures 35 replies
Stochastic's and Bollinger's adventures. 3 replies
Dislikedi think many indicators do not work in simulators, even in MT4's Strategy Tester....
specially since u are backtesting/ dealing with historical prices.
Hope this helpsIgnored
QuoteDislikedNiteshift - That's funny about your wife. She's going to think you have some secret porn addiction running off to the computer every chance you get. On a sidenote, if you wanted, I'm sure you can become accustomed to spotting divergences with MACD in VHands if you wanted to play around with VHands mainly. I don't think it's really necessary to use VHands to learn divergences though.
DislikedYes you're correct about MACD. Regular Bullish Divergence is drawn through Higher Lows on MACD, but price is making Lower Lows. Regular Bearish Divergence is drawn through Lower Highs on MACD, but price is making Higher Highs. Here's an exercise - once you find a couple divergences on MACD and price, study what the price pattern looks like. I'll bet once you see a few of them you can look at the price chart and spot divergence without MACD. Regular MACD divergence is just showing you where momentum is slowing. But the Igrok method takes into account...Ignored
DislikedGood morning all,
First trade of the day for me is an 18.1 on EURCHF. All the main moves point down, and the overall trend is down as well. So hopefully the odds are in my favour. SL is currently at 35 pips, my target is 90-100 ADR, provided the move continues down for the day. Otherwise I will assess the situation and change my TP accordingly.
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Good trading to you all todayIgnored
DislikedThanks FXChi, I'll start trying out the exercise you've recommended. So basically with MACD divergence we have another set of rules of how the TLs should be plotted? More research I must doIgnored
DislikedNot sure I follow TL comment bud. Price TL's are drawn the same irrespective of div or not. It sounded like you weren't that familiar with divergence concept, so I was suggesting to study what the divergence price pattern looks like to help you get used to what the signal is showing you. That's it. Not too much more to it TBH. The examples you have all look great to me. Aussie target is a bit lower though.Ignored
DislikedGood day to you all,
My first trade of today is a 20.6 on AUDUSD. There are still a number of unpaid divs which need to be visited for this pair, and I'm hoping the recent downtrend can provide the momentum for the pair to hit my initial 4hr div target of around .8505. If price cuts through that easily, then there's still another two unpaid divs to be visited further down.
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My only reservation with this trade is that more than 70% of the ADR has been completed, so if I'm not stopped out beforehand, it may take a while...Ignored
DislikedThose pesky dealing desk guys again, hunting my stop loss! No sooner than I submit my last post, my SL gets hit. So down -16 pips for the day
Maybe my TL wasn't good to begin with. Never mind, must remember: A+ trades only Mr.Niteshift, A+ trades onlyIgnored
DislikedWith spotting divs without the MACD, from what I can see, divs usually occur when price is trending and then a break occurs in the trend such as a retrace before trend resumption, or a trend reversal. Am I on the right track?Ignored
DislikedYes you're right. By definition, regular div shows up in trends. And you'll see these retracements, or consolidation, and then the market continues it's move, but you'll notice the Highs/Lows become shallower - the momentum is decreasing which is what MACD shows. Easy man.
Don't worry about the trades this morning. We're still gaining experience. I'm working through the material again and picking up more things I missed the first time around.
Best of luck and don't stop learning.Ignored
DislikedHi guys,
Apart from my losing trade this morning, I couldn't really see many opportunities today. At the moment the only thing that remotely resembles a possible trade is an 18.5 on GBPUSD. Thanks to Songbo for last Friday and his contribution regarding the ADR templates and main trends. I had an 18.4 trade that went wrong and triggered a stop and reverse. It turned out the trade in the end resembled an 18.5, and so it's becoming easier for me to now see potential ADR trades.
This is how it's looking now:
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Major trend...Ignored