- #404
- Nov 14, 2019 8:46am Nov 14, 2019 8:46am
- Joined May 2017 | Status: Trader | 3,885 Posts
Truth is like poetry. And most people f*cking hate poetry.
- #411
- Nov 14, 2019 1:11pm Nov 14, 2019 1:11pm
@MaryJane
You created a very good tool. It may not reflect much on your trade explorer.
Margin Trader is like a news trading tool. So apart from recognizing the support and resistance, you need to have momentum. The problem with support and resistance is that the pair will go into range for quite sometimes. If I remember correctly, you were in USDJPY sell last week and buy this week. You are right in both cases but since USDJPY is in range you cannot really use a tool like Margin Trader because it compounds and therefore any reverse in market direction is disastrous. Looking at USDJPY, I actually see a bearish trend today as Japan is very strong and USD is very weak. Knowing the Margin trader only adds to winning trades, its means your trades were actually winners before they became losers.
So attached is a good currency meter (indicator) that will be of assistance because giving this tool out free means we are indebted to you and should be also free to help you to hold the touch light. As of today the best pairs were bearish…AUDCHF and AUDJPY.
On the exit, I believe ADR will make a good exit point to set take profit because like I tried it, anything after the ADR is exhausted could mean the market may go into consolidation.
.
.
You created a very good tool. It may not reflect much on your trade explorer.
Margin Trader is like a news trading tool. So apart from recognizing the support and resistance, you need to have momentum. The problem with support and resistance is that the pair will go into range for quite sometimes. If I remember correctly, you were in USDJPY sell last week and buy this week. You are right in both cases but since USDJPY is in range you cannot really use a tool like Margin Trader because it compounds and therefore any reverse in market direction is disastrous. Looking at USDJPY, I actually see a bearish trend today as Japan is very strong and USD is very weak. Knowing the Margin trader only adds to winning trades, its means your trades were actually winners before they became losers.
So attached is a good currency meter (indicator) that will be of assistance because giving this tool out free means we are indebted to you and should be also free to help you to hold the touch light. As of today the best pairs were bearish…AUDCHF and AUDJPY.
On the exit, I believe ADR will make a good exit point to set take profit because like I tried it, anything after the ADR is exhausted could mean the market may go into consolidation.
.
.
- #412
- Nov 14, 2019 1:35pm Nov 14, 2019 1:35pm
- Joined May 2017 | Status: Trader | 3,885 Posts
Truth is like poetry. And most people f*cking hate poetry.
- #414
- Nov 14, 2019 1:47pm Nov 14, 2019 1:47pm
- Joined Jul 2015 | Status: Trader | 2,299 Posts
@MaryJane You created a very good tool. It may not reflect much on your trade explorer. Margin Trader is like a news trading tool. So apart from recognizing the support and resistance, you need to have momentum. The problem with support and resistance is that the pair will go into range for quite sometimes. If I remember correctly, you were in USDJPY sell last week and buy this week. You are right in both cases but since USDJPY is in range you cannot really use a tool like Margin Trader because it compounds and therefore any reverse in market direction...
I concur- We are indebted to Mary Jane for one of a kind tool and what you are doing is in great spirits...
I feel more than Mary Jane, some of us could use a proper entry criteria
- I downloaded the indicators and template, could you shed some insights on the entry trading rules...Thanks
- #415
- Edited 2:44pm Nov 14, 2019 2:25pm | Edited 2:44pm
{quote} Liovannix, I concur- We are indebted to Mary Jane for one of a kind tool and what you are doing is in great spirits... I feel more than Mary Jane, some of us could use a proper entry criteria
Currency Meter 5 for our purpose, you don’t need to know much. It will alert you which currency is strongest and which is weakest. U pair them and its either 100% bullish or 100% bearish you go for as that has a good momentum. It can last a day or more. Trend if I can recall is defined on daily bases.
Find attached the complete package with manuals plus even the EA which I have never traded with.
On entry, use your chart but the truth is if a currency pair say I am 100% bullish, it means its one way, it has no time to waste but you can look at the support or resistance but it will break through just may be patience.
As for ADR, it shows you on your trading chart the daily range so you can use that as your take profit though it adjust itself depending on the daily movement but not much difference.
Attached is is probability meter so you can see how strong the strength is especially there are 2 pairs for comparison.
- #416
- Nov 14, 2019 3:32pm Nov 14, 2019 3:32pm
- Joined Jul 2015 | Status: Trader | 2,299 Posts
{quote} I bought a news trading tool like this and it’s tied to an account not even name. U need to pay higher for a name locked and u must trade at least 0.02 lots every week or else it’s not active. Currency Meter 5 for our purpose, you don’t need to know much. It will alert you which currency is strongest and which is weakest. U pair them and its either 100% bullish or 100% bearish you go for as that has a good momentum. It can last a day or more. Trend if I can recall is defined on daily bases. Find attached the complete package with manuals...
Thanks for the upload...
Does the strength calculation in real time or does it happen at a fixed time like at the opening of a new day{based on previous day}? I mean, do you enter immediately after an alert saying EURJPY is strongest?
- #418
- Edited Nov 15, 2019 12:53am Nov 14, 2019 8:01pm | Edited Nov 15, 2019 12:53am
{quote} Liovannix, Thanks for the upload...
As CHF AND JPY were alternative the strongest and even now, I sea AUD is the weakest. If you read the manual they are compared on Daily time frame. Its not different from currence metered but for the purpose of just trading one pair, I like this and for say 3 pairs, I like the Fx Reactor.
{quote} You tell the creator of MarginTrader what kind of EA (s)he has created, you must be kidding. First, your statement shows 25% gain after one ‘trending’ day. MJ’s TE shows 395% gain after one month. Second, a currency strength meter shows what has been, you have no guarantee that the ‘trend’ will continue. To know if a ‘trend’ will continue you need to have an idea of supply and demand, not ADR. If you want to come early to the party you need an idea of supply and demand, if you want to come later you need a currency strength meter. MJ probably...
I will prefer you contribute what you have than insult me. I am not a coder but will gladly contribute my 2 cent idea. Take it or leave it. So when you use the word kidding, I wonder what is your point. I have used PZ_PyramidEA and also FXDragunov.NewsTrade and any observation is meant to help some one.
It was not about the return but the idea. I am sure the reason I marked the time out was to show it was not a normal trading time on a GMT +2. When I say something, I like to make it current and not show something that was cherry-picked. Pyramid or compounding trade is rewarding but you have to be sure its a one way move as any major pull back is something you will hate..
- #420
- Nov 15, 2019 5:00am Nov 15, 2019 5:00am
- Joined Jul 2015 | Status: Trader | 2,299 Posts
{quote} In real time. Luckily it has an alert so you are able to catch the beginning. Yesterday 2 possible trade trades were AUDJPY and AUDCHF. As CHF AND JPY were alternative the strongest and even now, I sea AUD is the weakest. If you read the manual they are compared on Daily time frame. Its not different from currence metered but for the purpose of just trading one pair, I like this and for say 3 pairs, I like the Fx Reactor. {image} {quote} I dont need to post anything but if I did, its because I believe someone will pick something from it....
Thank you for the explanation. It's appreciated...