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My trading education :)

  • #1
  • First Post: Oct 19, 2006 6:04am Oct 19, 2006 6:04am
Here I will try to get oppinion's and advises so I can learn better and hopefully it will help, other people to learn. I revered back to demo account so I will not loose money learning. This is something I saw a potential trade and I wonder if I was right (yet to see on the charts what will happen but I want oppinions on the logic behind the trade). It is on 15 min chart
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  • #2
  • Oct 19, 2006 6:09am Oct 19, 2006 6:09am
I just got also inverted hammer, is it probably a support that the trend will go upwards?
  • #3
  • Oct 19, 2006 6:19am Oct 19, 2006 6:19am
I tried to start a thred where to post charts on entry decision and the logic behind them ... I think practice is the best way to learn that's why I would require help and support (in orther of oppinions and suggestions). I put the thred in the Forex Beginners subforum cause I am not sure I am allowe to do so here or here only the seasoned and experienced traders are "allowed" to Discuss? I don't want to offend anyone that is why I ask
  • #4
  • Oct 19, 2006 6:50am Oct 19, 2006 6:50am
Quoting lubzdr
Here I will try to get oppinion's and advises so I can learn better and hopefully it will help, other people to learn. I revered back to demo account so I will not loose money learning. This is something I saw a potential trade and I wonder if I was right (yet to see on the charts what will happen but I want oppinions on the logic behind the trade). It is on 15 min chart
I think 1H chart is more accurate for candles
  • #5
  • Oct 19, 2006 6:54am Oct 19, 2006 6:54am
See I already learn something

Thank you very much for sharing as the trade went against me anyway but at least I learnt something valuable
  • #6
  • Oct 19, 2006 7:17am Oct 19, 2006 7:17am
Hi, I may have misunderstood what you are wanting. Are you asking for advise on how to trade? Or are you asking for advise on specific trades you are placing?

If you want advise on how to trade, then you were correct and the beginner section would be the place to be.

If that is the case, have you read through the four stickie threads at the top of the Beginner Forum? There is lots of good stuff there..

The previous poster is correct, longer time frames are usually more stable and trends are easier to spot and be relied on.

Thanks again, scott
  • #7
  • Oct 19, 2006 7:55am Oct 19, 2006 7:55am
Quoting c1ro
I think 1H chart is more accurate for candles
sry to object. On a 1 hr chart a doji can represent a retrace, pause (zig zag) in a move. especially after news. 4hr and higher are good for doji's

but bearish engulfings, bullish 3 and bearish 3 are ok on a 1 hr chart. Dark cloud cover too.

candles on lower time frames will mean very little.

Kolachi method is good on a 15 min chart. especially gbp$

candles need to be accopanied with another method always. Once you start to get a signal from a method then look to candles for assistance in pin pointing an entry and an exit.

A simple way to do this is wach as the price aproaches support/resistance and wach for a bounce or pull back. Using 5wma 8ema and candles. Only go for 5-10 pip moves. to play it safe. Untill you get a good feel for it.

hope this helps

Dave
  • #8
  • Oct 19, 2006 8:17am Oct 19, 2006 8:17am
Quoting xxDavidxSxx
sry to object. On a 1 hr chart a doji can represent a retrace, pause (zig zag) in a move. especially after news. 4hr and higher are good for doji's

but bearish engulfings, bullish 3 and bearish 3 are ok on a 1 hr chart. Dark cloud cover too.

candles on lower time frames will mean very little.

Kolachi method is good on a 15 min chart. especially gbp$

candles need to be accopanied with another method always. Once you start to get a signal from a method then look to candles for assistance in pin pointing an entry and an exit.

A simple way to do this is wach as the price aproaches support/resistance and wach for a bounce or pull back. Using 5wma 8ema and candles. Only go for 5-10 pip moves. to play it safe. Untill you get a good feel for it.

hope this helps

Dave
What is kolachi method? Care to share?
  • #9
  • Oct 19, 2006 8:32am Oct 19, 2006 8:32am
Search the classified section for this.



Quoting c1ro
What is kolachi method? Care to share?
  • #10
  • Last Post: Oct 25, 2006 8:02pm Oct 25, 2006 8:02pm
Quoting c1ro
I think 1H chart is more accurate for candles
in my experience, the only thing pretty consistent are pin bars (hammers where the handle of the hammer sticks far beyond the trend line, and the head of the hammer is contained within the previous bar's high and low) on a 4 hr chart at least.

doji's, hammers, hirami, etc. are worthless on 5,15,30 charts. on 1 hour charts lots of engulfing, hiramis can happen during periods of low volume
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