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foureggs Oct 11, 2019 11:28am | Post# 4281

{quote} But if you only look LEFT of the green Vline, you see an official downtrend OVERDUE to go up. However, your comment of "look how much pips are available" is only a hindsight observation. Based on your speculation of the up move as only a trend correction, then the PREVIOUS up moves are more indicative of what to expect if this is a correction similar to those. The fact that the current "correction" started off with 2 large-bodied bars and continued marching upward is more indicative of a trend change underway, in keeping with "overdue to...

have to agree with you, in any way, one of us will be right, in hindsight
at the moment the one enter the trade got stopped out

monty20 Oct 11, 2019 11:45am | Post# 4282

Trade report for this week. All trades closed. 3.65R up this week, thats 4 weeks in a row with a profit of some kind. DD is at 1.8%, don't know if that is good or bad. No more trades today as I do not want to ruin it. have a good weekend guys and keep up with the studying. {image}
Hey Alan, is this trade report offered on your broker where is shows all this info including pips? My broker is oanda Iíve yet to find this where it shows this report with all the info for the week. Iím sure itís on there somewhere but Iím not sure how to get to it. Thanks

40PipsAlan Oct 11, 2019 12:24pm | Post# 4283

{quote} Hey Alan, is this trade report offered on your broker where is shows all this info including pips? My broker is oanda Iíve yet to find this where it shows this report with all the info for the week. Iím sure itís on there somewhere but Iím not sure how to get to it. Thanks
Itís an indicator that you run on the mt4 platform. I donít know anything about oanda . You can always get yourself a demo account that runs on mt4. My current one is FXCM. I am not going to post a report this week, total failure on most trades with a 14R loss. Back to the training notes and YouTube forex videos for me.

A

monty20 Oct 11, 2019 1:19pm | Post# 4284

{quote} Itís an indicator that you run on the mt4 platform. I donít know anything about oanda . You can always get yourself a demo account that runs on mt4. My current one is FXCM. I am not going to post a report this week, total failure on most trades with a 14R loss. Back to the training notes and YouTube forex videos for me. A
My oanda acct runs on mt4 as well. Which indicator is that?

40PipsAlan Oct 11, 2019 1:24pm | Post# 4285

1 Attachment(s)
{quote} My oanda acct runs on mt4 as well. Which indicator is that?
Here it is.
TradeReport_compact - v.1.04.mq4

monty20 Oct 11, 2019 1:28pm | Post# 4286

{quote} Here it is. {file}
Awesome. Thank you

monty20 Oct 11, 2019 6:00pm | Post# 4287

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Only made 7 trades this week as I was busy with my full time job. closed out a couple good trades today to end the week. Not sure exactly what the DD% means

PipsDearth Oct 12, 2019 1:34am | Post# 4288

{image} Only made 7 trades this week as I was busy with my full time job. closed out a couple good trades today to end the week. Not sure exactly what the DD% means

I guess it's the maximum draw down of your account for that period.

40PipsAlan Oct 12, 2019 3:42am | Post# 4289

{image} Only made 7 trades this week as I was busy with my full time job. closed out a couple good trades today to end the week. Not sure exactly what the DD% means
If you set the trade report to just show this weeks trades then you wonít need to put dates in. It resets every week. Good trading by the way

Rufus Oct 12, 2019 2:21pm | Post# 4290

Has anyone here run MY4 on a Microsoft Surface? If so which one and how well did it function?


Thanks all

40PipsAlan Oct 14, 2019 12:19pm | Post# 4291

Hey Guys whats on our watchlist for this week?

monty20 Oct 14, 2019 1:50pm | Post# 4292

Hey Guys whats on our watchlist for this week?
Iím not starting the week off well so far. Shorted aud/cad and eur/cad and hit stop loss on both

DrDave Oct 14, 2019 2:08pm | Post# 4293

{quote} Iím not starting the week off well so far. Shorted aud/cad and eur/cad and hit stop loss on both
Hey monty, if you post your chart of AUDCAD and specify your timeframe and entry bar, maybe we can find what went wrong.

DON-K Oct 14, 2019 3:50pm | Post# 4294

watching USDCHF for continuation

monty20 Oct 14, 2019 4:21pm | Post# 4295

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{quote} Hey monty, if you post your chart of AUDCAD and specify your timeframe and entry bar, maybe we can find what went wrong.
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Here is where I entered AUDCAD. On the last bar at .89351

monty20 Oct 14, 2019 4:25pm | Post# 4296

1 Attachment(s)
{quote} Hey monty, if you post your chart of AUDCAD and specify your timeframe and entry bar, maybe we can find what went wrong.
Here is EURCAD entry at 1.45627 on last bar Click to Enlarge

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DrDave Oct 14, 2019 5:47pm | Post# 4297

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{quote} {image} Here is where I entered AUDCAD. On the last bar at .89351
I copied your screen capture to use.
You did not say where you placed the SL, but I would put it at the white horizontal line. You can see that the next to last bar had a long top wick, indicating rejection at that level. Then looking left, you can see how many other bars stopped at that level. Therefore, if a down swing is underway, then it is highly unlikely that price would get past this level. So your entry was about 110 pips to that SL. And The swing high to your entry price was already about 100 pips.

That bar with the long top wick does give support for looking for selling.

Next, look at the bars inside the oval. Compare those to the bars in all of the other down swings. I see an obvious difference. No commitment to either up or down. The brown RSI line running sideways is also is in agreement with this assessment

Finally, look at the stochastics lines and compare them with the lines in the previous down swings. The slower light grey one is flat; I want to see it pointed down on that entry bar just like it does on all of the other down swings.

Even if you checked the H4, you would see that the entry bar on D1 is a down continuation, but that it already has gone for 7 bars, and swings tend to go 5-10 bars and then end. Plus the down move has already traveled 100 pips, so it is unlikely to travel another 100 pips to profit in 3 more bars.

I would skip this and look for a better setup.

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monty20 Oct 14, 2019 6:21pm | Post# 4298

{quote} I copied your screen capture to use. You did not say where you placed the SL, but I would put it at the white horizontal line. You can see that the next to last bar had a long top wick, indicating rejection at that level. Then looking left, you can see how many other bars stopped at that level. Therefore, if a down swing is underway, then it is highly unlikely that price would get past this level. So your entry was about 110 pips to that SL. And The swing high to your entry price was already about 100 pips. That bar with the long top wick...
Thank you Dr Dave, very informative information. For some reason when I trade off the daily chart Ill either go back one bar for my SL or sometimes if I feel its a big distance and puts me out of my 2% range then I switch to the 4 hr chart and go back 2 bars for SL. When I placed this trade I believe I went back 2 bars on the 4 hr chart which ended up being around 26 pips. Also that still kept me within my 2% risk of my account per trade. But as I see after you pointed it out that I probably should have skipped this trade and waited. I took this screenshot after the trade had already been stopped out as you can tell but I believe that when I took the trade that one of the stochastic lines were below the 50 and the other was close and heading that way until the upturn (not 100% positive on that but pretty sure as I didn't take a screenshot from the beginning of trade, which I need to start doing). Again im new to this so I appreciate and accept all advice and strategy

monty20 Oct 15, 2019 4:01pm | Post# 4299

Hey guys Iím just curious of what some your guys exit strategies are? I know RH posted a few good ones but what are some of your exits as far as taking profit? Do you guys do it by a percentage or how many pips or like double SL or something else? Thanks

DrDave Oct 15, 2019 4:31pm | Post# 4300

Hey guys Iím just curious of what some your guys exit strategies are? I know RH posted a few good ones but what are some of your exits as far as taking profit? Do you guys do it by a percentage or how many pips or like double SL or something else? Thanks
I normally target either 5 or 10 pips, depending on the conditions. Sometimes I let one order run for a while, but not often.


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