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The Fibonacci channel projections (FCP)

  • #1,241
  • Jul 23, 2020 7:32am Jul 23, 2020 7:32am
Quoting Inthebox
looks like jpy getting strong {image}
Can You send this indicator?
  • #1,242
  • Jul 23, 2020 7:48am Jul 23, 2020 7:48am
Quoting O_s_a
{quote} Can You send this indicator?
here
ITB - Seeing Orderliness amongst 'Randomness'
  • #1,243
  • Jul 23, 2020 8:29am Jul 23, 2020 8:29am
Quoting Inthebox
{quote} here
Thank You!
  • #1,244
  • Jul 23, 2020 9:00am Jul 23, 2020 9:00am
EUR/USD simple scalp:
Attached Image (click to enlarge)
Click to Enlarge Name: eur 230720 2.JPG Size: 238 KB
  • #1,245
  • Jul 23, 2020 9:26am Jul 23, 2020 9:26am
Another Dax scalp, breakout sell
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  • #1,246
  • Jul 23, 2020 9:36am Jul 23, 2020 9:36am
Quoting KalC
Another Dax scalp, breakout sell {image}
Sorry, I can't understand anything from your chart...
Try to make the channel lines lighter and also place the FСP projection lines on the chart.
  • #1,247
  • Jul 23, 2020 12:05pm Jul 23, 2020 12:05pm
Retest of resistance and breakout of channel lines, no need for projection. "Project" with new structure nothing else, use further channel lines when price is at median / fair value price
  • #1,248
  • Jul 23, 2020 12:22pm Jul 23, 2020 12:22pm
GBP/CAD Scalp
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  • #1,249
  • Jul 23, 2020 12:27pm Jul 23, 2020 12:27pm
Quoting O_s_a
{quote} Thank You!
friend, i have seen your trades. you were winning today but stayed too long in the trades.
if you do not mind, the following are 2 big killers.
1. big lot units
2. overtrade
unless you are trading small amount of money to gain 10% a day. but that is another story and strategy.

all we need is to get 1% a day consistently. whether it is with 15 pips, 20 pips, 30 pips a day ......... for 1% a day.
the power of cumulative compounding will turn $10k to $2mil in 2 years.
there is no hurry, unless we do not have the patience to wait for 2 years.
ITB - Seeing Orderliness amongst 'Randomness'
  • #1,250
  • Jul 23, 2020 1:43pm Jul 23, 2020 1:43pm
Quoting KalC
Retest of resistance and breakout of channel lines, no need for projection. "Project" with new structure nothing else, use further channel lines when price is at median / fair value price
Before writing the next post, carefully read the name of the thread and post #1. If you do not understand anything, repeat it again. If you are a genius and know everything without reading post #1, this topic is not for you. Please do not be offended and not to thank. I hope you got what I meant.
  • #1,251
  • Jul 23, 2020 1:47pm Jul 23, 2020 1:47pm
I didn't take this setup, but it worked, just as an example.
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  • #1,252
  • Jul 23, 2020 1:59pm Jul 23, 2020 1:59pm
Cable

Possible Buy on M5

- H1 has UpDirecton,
UpBounce from EMA20
- M15 has a PuB to EMA20

atb vvm
Attached Image (click to enlarge)
Click to Enlarge Name: 23.07-M5-1.png Size: 82 KB
PA Trading with EMAs & common Sense
  • #1,253
  • Jul 23, 2020 2:06pm Jul 23, 2020 2:06pm
Quoting Inthebox
{quote} ...all we need is to get 1% a day consistently. whether it is with 15 pips, 20 pips, 30 pips a day ......... for 1% a day...
Golden words. This is the only correct approach to trading if you are a private trader.
  • #1,254
  • Jul 23, 2020 2:46pm Jul 23, 2020 2:46pm
Cable

I bought
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PA Trading with EMAs & common Sense
  • #1,255
  • Jul 23, 2020 3:06pm Jul 23, 2020 3:06pm
Quoting Seysin32
{quote} Before writing the next post, carefully read the name of the thread and post #1. If you do not understand anything, repeat it again. If you are a genius and know everything without reading post #1, this topic is not for you. Please do not be offended and not to thank. I hope you got what I meant.
No genius mate, just logic and common sense. I know a channel strategy when I see one. Point take though, all the best to you
  • #1,256
  • Jul 23, 2020 4:21pm Jul 23, 2020 4:21pm
Quoting Inthebox
{quote} friend, i have seen your trades. you were winning today but stayed too long in the trades. if you do not mind, the following are 2 big killers. 1. big lot units 2. overtrade unless you are trading small amount of money to gain 10% a day. but that is another story and strategy. all we need is to get 1% a day consistently. whether it is with 15 pips, 20 pips, 30 pips a day ......... for 1% a day. the power of cumulative compounding will turn $10k to $2mil in 2 years. there is no hurry, unless we do not have the patience to wait for 2 years....
You are wrong, I'm not winning today
My account is small so the gain is big.
But maybe thats biggest problem. Small account and I don't care about it like I should.

I think I have a problem with overtrading.
I know the idea of compouding very well and thats my goal to achive.
I have over 10 years of experience in Forex but most of this time it was only theoretical and in my example when it comes to real trading I get little confused.
Need to practice, practice, practice.
Do You have some tips when You have a bad day? How many trades is max?
  • #1,257
  • Jul 23, 2020 10:29pm Jul 23, 2020 10:29pm
Quoting O_s_a
{quote} Do You have some tips when You have a bad day? How many trades is max?
How many trades is max?
maybe limit to 2 trades per session. 2 for london session. 2 for new york session.
if we think in term of percentage win/loss per day, then we get rid of the number of trades per day.
there is no magic formula. each of us has to find our comfort zone.
say we decide on 1% win per day and with equity of $10k.
decide the number of pips that suits yourself for your strategy ..... 15 pips, 20 pips, 25 pips .........
say 15 pips. then use about $7 per pip (10 divide by 15). if you are not comfortable then adjust.
that will be $105 which is 1% of $10k plus or minus.
20 pips will be $5 per pip.
25 pips will be $4 per pip ..... etc .....

when You have a bad day?
for some it will be difficult to get consistent 1% day.
we can look in term of 5% week or 20% month instead.
we limit the % loss per day according to our own comfort zone.

provided we have a win rate of 70%, the following is an example.
limit 3% loss per day.
win 1% - stop trading with 1 trade per day. target achieved.
loss 1% - double next trade lot unit to 2% (if win stop trading)
loss 3% - stop trading with max 2 trades per day.

of course this will not suit every one. each of us has to find our own comfort zone.
ITB - Seeing Orderliness amongst 'Randomness'
  • #1,258
  • Jul 23, 2020 11:17pm Jul 23, 2020 11:17pm
Attached Image (click to enlarge)
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ITB - Seeing Orderliness amongst 'Randomness'
  • #1,259
  • Jul 24, 2020 12:17am Jul 24, 2020 12:17am
Quoting Inthebox
{quote} How many trades is max? maybe limit to 2 trades per session. 2 for london session. 2 for new york session. if we think in term of percentage win/loss per day, then we get rid of the number of trades per day. there is no magic formula. each of us has to find our comfort zone.
another tip is to trade multi time frame in order to limit the number of trades.
in the example i am using h1 and m15.

i am only allowed to look for trade if:
1. the h1 fractal (a) is breached.
2. then i draw the trend line (b). anything below i only sell.
3. discard trade if highest fractal (c) is breached.
4. switch to m15 from vertical line (d) onward.
5. in m15 start looking for trade if there is lower low lower high 1234.

divergences helped in the example.
Attached Image (click to enlarge)
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ITB - Seeing Orderliness amongst 'Randomness'
  • #1,260
  • Jul 24, 2020 12:59am Jul 24, 2020 12:59am
Quoting kourosh1347
Good idea {image} {file}
Hi,
Is-it possible to have this ChannelFibo in mq4 please ?
Cheers
jf
Attached File(s)
File Type: ex4 channelFibo.ex4   28 KB | 598 downloads
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