{quote} HiAs you say, it's an ADR trade so always a bit more risky. But it's valid, yes. To begin with though, you might want to stick to channel crosses until you master those.
You'll definitely be seeing me around a lot in the coming days.
- #1,803
- May 19, 2020 6:56am May 19, 2020 6:56am
- Joined Apr 2020 | Status: Daylight Roadmapper | 1,371 Posts
You might wonder why I'm showing you a rather boring looking trade that ended pretty much break-even.
It's to remind you of the importance of discipline. Being disciplined in taking those small wins or small losses is super-important. It's what leads to capital preservation. And capital preservation leads to being able to take advantage of the big opportunities that come along.
Sometimes, a small loss will be your best trade of the day, regardless of how many winners you hit.
- #1,804
- May 19, 2020 6:57am May 19, 2020 6:57am
- Joined Apr 2020 | Status: Daylight Roadmapper | 1,371 Posts
[quote=btrfx1;12949779]
Hehe, thanks Ben - hope you're well!
{quote} Nice trade - Congrats LT 31 members on line tonight think thats the most I have ever seen. Good work Teach, --just amazingUpdate now 34---you are in overdrive Miss T
USDCAD M5 Current trade Notes on chart Cheers {image}
This post is more for myself to read through a later time and as refresher, and is not meant to be an advice to anyone.
- #1,810
- Edited 9:11am May 19, 2020 9:00am | Edited 9:11am
- Joined Sep 2006 | Status: Trader | 10,704 Posts
every Saint has a past. Every Sinner has a Future
- #1,812
- May 19, 2020 9:28am May 19, 2020 9:28am
- Joined Sep 2006 | Status: Trader | 10,704 Posts
[quote=turnip15;12950152]Waiting now -I was too slow to get in on break of previous. high.
Edit: messed up uploading here. Got long on arrow after pullback !!
Ah - this should have been the first post - followed by post 1810 - ( retrieved the correct image)
Edit: messed up uploading here. Got long on arrow after pullback !!
Ah - this should have been the first post - followed by post 1810 - ( retrieved the correct image)
every Saint has a past. Every Sinner has a Future
- #1,813
- May 19, 2020 9:46am May 19, 2020 9:46am
- Joined Sep 2006 | Status: Trader | 10,704 Posts
every Saint has a past. Every Sinner has a Future
- #1,814
- May 19, 2020 9:54am May 19, 2020 9:54am
- Joined Apr 2020 | Status: Daylight Roadmapper | 1,371 Posts
{quote} I tried your TrendStrength RSI I think it may be quite helpful, especially because you can alter input. What struck me, though: if you change the input of RSI the value changes but on screen it still prints HTF RSI 2/9.
if you want to remove HTF text, delete it at bottom of indicator settings.
{quote} RSI 2/9 is the formula, it'll always be that
I was actually refering to dietcoke (see link)
who rewrote two of your indis to make them somewhat less tough on computer memory.
Probably you won't have the time and it is just a technicality but I'd be interested to know:
why 2/9 and not any other values (e. g. 14 is standard for RSI).
And how does the indicator's formula calculate the RSI value? On all higher TFs or on the next higher TF?
And what do you mean by "it will always be that".
Your indicator has inputs for RSI period, so it seems you can change it (I could use 5/14 for example, would that make it HTF RSI 5/14)?
Don't worry about my questions if you are too busy.
- #1,817
- May 19, 2020 10:16am May 19, 2020 10:16am
- Joined Apr 2020 | Status: Daylight Roadmapper | 1,371 Posts
{quote} Thanks for your answer: I was actually refering to dietcoke (see link) who rewrote two of your indis to make them somewhat less tough on computer memory. Probably you won't have the time and it is just a technicality but I'd be interested to know: why 2/9 and not any other values (e. g. 14 is standard for RSI). And how does the indicator's formula calculate the RSI value? On all higher TFs or on the next higher TF? And what do you mean by "it will always be...
Why 2/9? The idea originally came from Neilsdigest in a deleted thread (which I think is still available in recycle bin if you want to search his name). I tried them out and found them useful for my methodology.
The indicator calculates the RSI2 and RSI9 values for the selected timeframes and divides the total by the number of figures used to obtain an average. So, in the case of the settings I use it's RSI2 for 4H,1D,1W + RSI9 for 4H,1D,1W then divide the total by 6 to get the final figure.
Yes, you can use dietcoke's indicator to change the RSI numbers used, if you wish. In your example, it should indeed display HTF 5/14 if those are the two you chose.
- #1,818
- May 19, 2020 10:16am May 19, 2020 10:16am
- Joined Aug 2010 | Status: absolute beginner | 5,463 Posts
trading is like dancing, don't think and just listen to the music!
- #1,819
- May 19, 2020 10:19am May 19, 2020 10:19am
- Joined Apr 2020 | Status: Daylight Roadmapper | 1,371 Posts
my best and my worst trade today, since starting trades last week i had not one day below +100 pips. {image} {image}
- #1,820
- May 19, 2020 10:19am May 19, 2020 10:19am
- Joined Apr 2020 | Status: Daylight Roadmapper | 1,371 Posts
Ok, I'm finally caught up on the thread and have notes for almost every post Laura has made up to this point. I'm not a cpu genius so I just copy and paste everything onto Notepad. I will upload all the notes that I have taken to this point and if someone wants to "clean them up" and make it a PDF or what ever you smart people do.....have at it! I just want to be nice, do my part, and share what I have done so far. Maybe this will help someone with their "studies". This is how I learn best. I will now try to go back thru these notes and delete the...