DislikedInteresting but I'd think a rolling 12 month average would probably be more useful.Ignored
Nothing worth having is easy.
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DislikedInteresting but I'd think a rolling 12 month average would probably be more useful.Ignored
DislikedI find it helpful to keep track of the yearly range especially when it comes to Sep-Dec period because "they" - ha ha - also generally like to do at least a 1,000 pip rally. So once you work out what direction they are going to take it (usually after September NFP), you can count on a damn good rally of at least 1,000 pips (in one direction).
But I also like to look at other weird things like sentiment readings and COT (which I noticed an esteemed member recently rubbished). Lot of rubbishing of trading methods going on in this thread...Ignored
DislikedAre you getting all complicated on me? I don't need to work out daily, weekly or monthly. MT4 has that indicator that gives me those and the indicator can be customised to however many periods you want. Am I making sense because I know I usually don't.Ignored
DislikedI see what he means, but that wouldn't factor in seasonal variations, particularly relevant to participation in the market from commercials..
edit: hmm, or maybe it would, since you are still calculating 12 months worth of data...Ignored
DislikedI've got 12 month rolling average currently at 789 pips. Average 26 week rolling average @ 365 pips but these can be customised anyway (depending on how much you want). We have done 54% of average monthly range so far or 433 pips. Last month's range was 885 pips. It's a very handy indicator. I used to work it out manually on Excel.Ignored
Dislikedcounter trend scalps I take it, what kind of stop distance are you using?
Actually you have some decent follow through as I type...Ignored
DislikedDo you want me to post the indicator? There may be a newer version around somewhere. I think I've even seen someone post a chart that had the yearly range on it as well as the day/week/month. It's funny because it's something I wouldn't like to trade without but I know we all trade differently.Ignored
DislikedI have some mt4 range calculators, but I don't think it would do any harm to look at yours...
To be honest, I currently use a very short term turn around, but want to develop a longer term position trading strategy, so yes that would be cool, thanks...Ignored
Dislikedah OK, I must say that I've often seen Tokyo post a new high or low, they like to go about 20 pips or so further, however over the past couple of months, it has been more of the double top/bottom type PA..
GL with your trade...Ignored