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Theory of "8-Currencies - Overbought/oversold"

  • #81
  • Jun 21, 2018 6:31am Jun 21, 2018 6:31am
Quoting neilsdigest
Their is no true meaning of overbought/oversold in forex. It's a myth... If a currency is strong and rising and the buyers stop buying. What happens? It drops.. Doesn't mean it was overbought. How can there be an overbought USD.. There is an unlimited supply (Nearly) - If the buyers stop buying it then it drops.. Sort of supply and demand.. There is no way to tell when a currency is overbought or oversold as it doesn't exist.. Take the EUR/USD last Friday. It was rising and rising strong.... Then it dropped.. WHY? Was it overbought? NO. The buyers...

I think the whole overbought/oversold thing not being logical is a result of :
a) traders collecting quotes and passing them to each other, without even trying to understand them
b) translation
c) the trading educators leveraging on the problems above

The word "over" is a preposition.
Which most understand as an end of something.
As in - "The holidays are over". Meaning the holidays finished,ended,etc.

However there is a second connotation which is less popular:

"His flat was over the shop" = at a higher level or layer than
"Over him is the financial director" = higher in rank than
"I'd choose the well-known brand over that one" = expressing preference.

And take a look at the origin of the word, dosen`t OverSold in this content give a clear indication of an Uber Bearish Trend ?
Attached Image
The truth is hidden from you
  • #82
  • Jun 21, 2018 11:19am Jun 21, 2018 11:19am
Quoting MaxenshteinD
{quote} I think the whole overbought/oversold thing not being logical is a result of : a) traders collecting quotes and passing them to each other, without even trying to understand them b) translation c) the trading educators leveraging on the problems above The word "over" is a preposition. Which most understand as an end of something. As in - "The holidays are over". Meaning the holidays finished,ended,etc. However there is a second connotation which is less popular: "His flat was over the shop" = at a higher level or layer than "Over him is...
Hi, but it is a bench mark in trading, over bought and under sold, it is a focus point and basically not worth a carrot for true information.
Same with bollinger bands etc.
They may give comfort to see if you are trading and they agree with you but i personally would trash them.
Trade well
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #83
  • Jun 21, 2018 12:01pm Jun 21, 2018 12:01pm
Quoting billytt
{quote} Hi, but it is a bench mark in trading, over bought and under sold, it is a focus point and basically not worth a carrot for true information. Same with bollinger bands etc. They may give comfort to see if you are trading and they agree with you but i personally would trash them. Trade well
Every single indicator and the overbought/oversold idea is all based on stocks and not forex.... Every single indicator on MT4 was made for stocks and not forex.

We have to think differently.. There are certain points when it will just drop but still no meaning off overbought/oversold.
The most violent element in society is IGNORANCE
  • #84
  • Jun 21, 2018 12:41pm Jun 21, 2018 12:41pm
Quoting neilsdigest
{quote} Every single indicator and the overbought/oversold idea is all based on stocks and not forex.... Every single indicator on MT4 was made for stocks and not forex. We have to think differently.. There are certain points when it will just drop but still no meaning off overbought/oversold.
Hi, i cannot agree entirely with you but a lot of your post i agree with.
Overbought/sold is still mis information.
i could bring up any chart and pair and show you contradictions, same with trend is your friend lol.
trade with the big guys and do not fall into their trap.
Just saying and i am trying to give positive feedback.
Trade well
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #85
  • Edited 4:36pm Jun 21, 2018 4:19pm | Edited 4:36pm
Quoting billytt
{quote} Hi, i cannot agree entirely with you but a lot of your post i agree with. Overbought/sold is still mis information. i could bring up any chart and pair and show you contradictions, same with trend is your friend lol. trade with the big guys and do not fall into their trap. Just saying and i am trying to give positive feedback. Trade well
As a bit of fun I want you all to (If you have Windows) put this image in paint and mark where it was oversold/overbought... I know where every retail trader will put it but have some fun and post it here..

It's the 15 minute GBP/USD mt4 chart

When you have done that... Second image is the CAD/CHF on a D3 chart.. Mark where it was overbought/oversold.
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The most violent element in society is IGNORANCE
  • #86
  • Jun 21, 2018 5:18pm Jun 21, 2018 5:18pm
Quoting neilsdigest
{quote} As a bit of fun I want you all to (If you have Windows) put this image in paint and mark where it was oversold/overbought... I know where every retail trader will put it but have some fun and post it here.. It's the 15 minute GBP/USD mt4 chart When you have done that... Second image is the CAD/CHF on a D3 chart.. Mark where it was overbought/oversold. {image} {image}

It would look like the multi coloured swop shop.....

Same for adding a trend......I agree with Billy on that one.
  • #87
  • Jun 21, 2018 7:51pm Jun 21, 2018 7:51pm
Quoting moodybot
{quote} It would look like the multi coloured swop shop..... Same for adding a trend......I agree with Billy on that one.
There isn't one.... It doesn't exist. All money flow.. Price isn't a bargain. It's to high a price to pay.... You can't look back at a chart and say at what point it was... That was the point I was getting across.

Like trends.. What is trending on the daily might not be on the 15 minute..... It might not be trending on the daily but will be on a 2 hour chart..

What I am also saying is take time out of the equation when trading forex - and you will see the real money flow and when the price gets to high for the big boys to buy.. etc

Now let's see Davit dislike this one too.. !!!
The most violent element in society is IGNORANCE
  • #88
  • Jun 21, 2018 8:30pm Jun 21, 2018 8:30pm
Quoting neilsdigest
{quote} There isn't one.... It doesn't exist. All money flow.. Price isn't a bargain. It's to high a price to pay.... You can't look back at a chart and say at what point it was... That was the point I was getting across. Like trends.. What is trending on the daily might not be on the 15 minute..... It might not be trending on the daily but will be on a 2 hour chart.. What I am also saying is take time out of the equation when trading forex - and you will see the real money flow and when the price gets to high for the big boys to buy.. etc Now let's...
That's what I'm saying, if traders were to colour in there favoured overbought oversold areas on a chart, it would resemble a pizza.
Again trends, trend from where, what time.... complete utter bollox.
I believe that retail price feed is an algorithm that just has to remain within certain parameters, the big boys operate through that algo.
A good mate of mine, to this day swears that his Professor at Uni was working on an algorithm to run on financial markets, possibly Forex, this would have been 30 yrs ago. It's because of that reason he refuses to trade forex.
  • #89
  • Jun 22, 2018 2:01am Jun 22, 2018 2:01am
Quoting neilsdigest
{quote} As a bit of fun I want you all to (If you have Windows) put this image in paint and mark where it was oversold/overbought... I know where every retail trader will put it but have some fun and post it here.. It's the 15 minute GBP/USD mt4 chart When you have done that... Second image is the CAD/CHF on a D3 chart.. Mark where it was overbought/oversold. {image} {image}
i heven't the time to look, BUT they are probably both over bought/sold
just showing extremes of continuation.
trade well
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #90
  • Jun 22, 2018 2:02am Jun 22, 2018 2:02am
Quoting neilsdigest
{quote} There isn't one.... It doesn't exist. All money flow.. Price isn't a bargain. It's to high a price to pay.... You can't look back at a chart and say at what point it was... That was the point I was getting across. Like trends.. What is trending on the daily might not be on the 15 minute..... It might not be trending on the daily but will be on a 2 hour chart.. What I am also saying is take time out of the equation when trading forex - and you will see the real money flow and when the price gets to high for the big boys to buy.. etc Now let's...
I AGREE ENTIRELY,,,,, PRICE ACTION RULES, eas ,areas prrrrrrrrrrrrrp

trade well
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #91
  • Jun 22, 2018 2:35am Jun 22, 2018 2:35am
this is a old trading system and I mean I've a Expert Advisor for this system
I will come back to the thread
  • #92
  • Jun 22, 2018 4:34am Jun 22, 2018 4:34am
I've found it

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  • #93
  • Jun 22, 2018 6:53am Jun 22, 2018 6:53am
- 7 pairs are buy pairs

- 7 pairs are sell pairs

- if the signal active come all pairs buy or all pairs sell

- weekly renew or daily renew

- I start Sunday / monday with weekly and is the first order closed
then I change in the settings to daily.

- Weekly only one order per week and daily only one order per day

- the orders closed us basket 0.10 Lot Basket TP 50 EUR
  • #94
  • Jun 24, 2018 6:21am Jun 24, 2018 6:21am
Quoting ghostbiker
- 7 pairs are buy pairs - 7 pairs are sell pairs - if the signal active come all pairs buy or all pairs sell - weekly renew or daily renew - I start Sunday / monday with weekly and is the first order closed then I change in the settings to daily. - Weekly only one order per week and daily only one order per day - the orders closed us basket 0.10 Lot Basket TP 50 EUR
+there are many smart ideas, not technical, not fundamental, -- you can name it "fahlawah = "Leaway"", among them:
assume you enter all 28 pairs demo buy, then after 10 days you check results, and is was loss of 5000 pips. then simply in live account put buy positions on all 28 pairs.

if it was above plus 4000 pips---make it sell. it works. heart of PRICE ACTION with no need to look at any chart.
Forex Philosopher
  • #95
  • Jun 24, 2018 8:54am Jun 24, 2018 8:54am
Quoting Master-Mind
{quote} +there are many smart ideas, not technical, not fundamental, -- you can name it "fahlawah = "Leaway"", among them: assume you enter all 28 pairs demo buy, then after 10 days you check results, and is was loss of 5000 pips. then simply in live account put buy positions on all 28 pairs. if it was above plus 4000 pips---make it sell. it works. heart of PRICE ACTION with no need to look at any chart.
Master-Mind,

Why the significance for 10 days and 5000 Pips?

Thanks
  • #96
  • Jun 24, 2018 9:12am Jun 24, 2018 9:12am
@Master-Mind: this EA had NOT 28 pairs. You are blind ? A child from 7 years can see that are 14 pairs
and not all are buy pairs and not all are sell pairs. This is a long time traded system

If you will trade 28 pairs buy for 10 days and + 5000 pips then do that :-)
  • #97
  • Edited 3:51am Jun 25, 2018 1:04am | Edited 3:51am
Today 06.28.2018 the first Basket short order + 2% win

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- 3 Basket closed today-

Today 06.28.2018 the second Basket (short) Order + 2% win :-)

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  • #98
  • Jun 25, 2018 1:58am Jun 25, 2018 1:58am
Quoting ghostbiker
Today 06.28.2018 the first (short) Order + 2% win :-) {image}
Just wondering what your reference was to enter the hedge?
My own interpretation is that the market is short at the moment, so your indicator would show the sell pairs in profit, buys in loss.
Did you wait for the mud to settle, all sells in profit, all buys in loss then trade the 14 short based on the opening D0 candle?

M.
  • #99
  • Edited 3:51am Jun 25, 2018 3:28am | Edited 3:51am
today thirth order buy + 3%

-reference make the Expert Advisor-

- the signal for buy or sell for orders come, if go the Basket X pips in one direction buy or sell

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3 Basket closed in win + 7% is enough for today
  • #100
  • Jun 25, 2018 8:38am Jun 25, 2018 8:38am
more Baskets closed today

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