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  • #3,941
  • Nov 9, 2020 6:03am Nov 9, 2020 6:03am
And why I am glad I finish dax etc around 10 -ish am each day.
( Wonder why dax took off like that. I think that this time of day sees sudden movements in various instruments )?
Hope none of you were short
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every Saint has a past. Every Sinner has a Future
  • #3,942
  • Nov 9, 2020 6:08am Nov 9, 2020 6:08am
Quoting Goyatrade
{quote} Was also watching it and decided not to trade!! And when i opened my chart again I was 15mins late for the explosion !!! Hope you got some of it!!!
No I finished around 10:30am and now wait for US open.
every Saint has a past. Every Sinner has a Future
  • #3,943
  • Nov 9, 2020 6:13am Nov 9, 2020 6:13am
Quoting turnip15
And why I am glad I finish dax etc around 10 -ish am each day. ( Wonder why dax took off like that. I think that this time of day sees sudden movements in various instruments )? Hope none of you were short {image}
why it jumps? do you know?
  • #3,944
  • Nov 9, 2020 6:17am Nov 9, 2020 6:17am
Quoting dbsdsun
{quote} why it jumps? do you know?
The FF Calendar ( top of this page) shows BOE making announcement - maybe that was it.
every Saint has a past. Every Sinner has a Future
  • #3,945
  • Nov 9, 2020 6:18am Nov 9, 2020 6:18am
Pfizer and BioNTech’s Covid-19 vaccine found to be 90% effective. That's why markets went crazy!
"Discipline Creates Life$tyle"
  • #3,946
  • Nov 9, 2020 6:31am Nov 9, 2020 6:31am
Quoting SuperSpartan
Pfizer and BioNTech’s Covid-19 vaccine found to be 90% effective. That's why markets went crazy!
breaking news not in news calendar is impossible to protect.
  • #3,947
  • Nov 9, 2020 7:08am Nov 9, 2020 7:08am
Even though it's pure luck, it's nice to be on the right side of an unannounced news release, especially when it's as huge as this one, in terms of global repercussion.

Was in 2 trades, AUDJPY long, continuation after channel reacted to YH & started pointing up. Closed manually on spike (thank god I had no TP set).
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EURAUD short, channel reacted to DO and near SMA, pointing down. Suffered some DD as channel was about to cross baseline, but instead failed there, and I decided to put in a 2nd risk unit, a few minutes before the announcement. Also no hard TP, and closed manually because happy with the profit
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  • #3,948
  • Nov 9, 2020 7:58am Nov 9, 2020 7:58am
Missed the big move but took +194 on later positions.

I hope you were all either on the right side of the big move or had your stops hit. Moves like this are a good reminder of why we have emergency stops.

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  • #3,949
  • Nov 9, 2020 11:17pm Nov 9, 2020 11:17pm
Quoting LauraT
{quote} Welcome I don't really want to give examples of when to ignore RSI as I fear it will encourage bad habits for traders who are still not experienced trading roadmap. In general though, I occasionally ignore RSI because I'm experienced. As you highlight, this could be as a result of me seeing a counter-trend setup I like, or finding that market structure is supportive of my directional bias. I'd strongly encourage others to wait until they have a good amount of trading time under their belt before thinking of going against it. We are...
Thanks heaps Laura. All else being equal, do we use 45/55 as the Long /Short triggers on this M1 Indices CompRSI indicator?
  • #3,950
  • Nov 10, 2020 2:25am Nov 10, 2020 2:25am
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GM!! Took these trades on DAX during LO, but it did not move as it usually does!! Trades were probably bit too late and far from 200sma, but all indis were in favor of a long!! It is amazing how the dax reacts at the 50 and 00 levels!! Something to keep in mind when trading it!! Looks like a ranging day, at least till NYO!! But i have been wrong many times!!
Wish you all a great day!!
  • #3,951
  • Nov 10, 2020 2:29am Nov 10, 2020 2:29am
Quoting Ricstar
{quote} Thanks heaps Laura. All else being equal, do we use 45/55 as the Long /Short triggers on this M1 Indices CompRSI indicator?
That's the general idea, yes. 55 or 60 for longs and 45 or 40 for shorts.

The 1m settings were an experimental attempt at having a more responsive CompRSI but they aren't perfect. If you find they aren't doing the job, feel free to discard for 1m trades.
  • #3,952
  • Nov 10, 2020 4:39am Nov 10, 2020 4:39am
Nadaq100 better to trade today. Using basic trial 20 rules of Laura's. A good morning.
I see comments on RSI. I cannot set them on my platform but I use the 55 and 200ma plus look left levels plus other bits from Laura's journal and seem to do okay. Point is, when do you know your selection is wrong . And what are you going to do about it. And how quickly. The point is: Lines and RSI and levels are just guides: You still have to drive the thing.
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every Saint has a past. Every Sinner has a Future
  • #3,953
  • Edited 5:05am Nov 10, 2020 4:44am | Edited 5:05am
Quoting Goyatrade
{image}GM!! Took these trades on DAX during LO, but it did not move as it usually does!! Trades were probably bit too late and far from 200sma, but all indis were in favor of a long!! It is amazing how the dax reacts at the 50 and 00 levels!! Something to keep in mind when trading it!! Looks like a ranging day, at least till NYO!! But i have been wrong many times!! Wish you all a great day!!
Dax likes levels

Look at 50 and 00 and nearby price action.
I didn't trade dax this morning but marked it up pre 8 am -(see thick pink lines.) Two lines are close to the 50 and 00 (13050 and 13100)
13020 sees a lot of tails in a row ( Hint - level and price action you watch closely)
Top pinky about 13129 -these are all drawn pre -8am and are areas not precise levels. In other words -areas where you pay close attention to price action and hold a steely resolve to jump ship if price fails to meet your plan. Play with the Laura 8ma channel breaks and you have a few reasonable trades ?
Looking Left etc.
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every Saint has a past. Every Sinner has a Future
  • #3,954
  • Nov 10, 2020 5:02am Nov 10, 2020 5:02am
Tried bullet entry..first trade @ 1.31839 and second trade @ 1.31741, with initial SL @ 1.31400 and tp @ 1.32070. After price reached my to target, I removed to and placed a trailing sl 200pips away. Manually closed the trades @ 1.32454.

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Thank you Laura for the strategy.
  • #3,955
  • Nov 10, 2020 5:33am Nov 10, 2020 5:33am
Quoting LauraT
Missed the big move but took +194 on later positions. I hope you were all either on the right side of the big move or had your stops hit. Moves like this are a good reminder of why we have emergency stops. {image}
Is this a new indicator with red and green parallel lines?
  • #3,956
  • Nov 10, 2020 6:55am Nov 10, 2020 6:55am
Quoting saha007
{quote} Is this a new indicator with red and green parallel lines?
It's the 8ma channel. Read from Post 1.
every Saint has a past. Every Sinner has a Future
  • #3,957
  • Nov 10, 2020 7:37am Nov 10, 2020 7:37am
Quoting turnip15
{quote} It's the 8ma channel. Read from Post 1.
Yes I know its 8ma but I wonder how you get red and green colors in the same line. Is it an external indicator?
  • #3,958
  • Nov 10, 2020 8:35am Nov 10, 2020 8:35am
Quoting saha007
{quote} Yes I know its 8ma but I wonder how you get red and green colors in the same line. Is it an external indicator?

Hi,

Indicator attached. I wanted to see if knowing the slope direction of the 8EMA helped at all, as I'm constantly seeking ways to make the methodology easier on the eyes and brain.
Attached File(s)
File Type: ex4 Averages Channel Candles (alerts + button).ex4   178 KB | 827 downloads
  • #3,959
  • Nov 10, 2020 9:09am Nov 10, 2020 9:09am
Nasdaq. Wow- moved too fast for me so far. Big candles. I marked up chart (look left lines) prior to 2:30pm) Maybe I was too slow to jump in on line crosses cos I am an old git. Prior to 2:30pm are the size candles I like. I stop at 4:30 - ish. So if nothing sets up I shut down Pc. Courage mon ami

How do you guys deal with the below price action chart ?
@LauraT
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every Saint has a past. Every Sinner has a Future
  • #3,960
  • Nov 10, 2020 9:11am Nov 10, 2020 9:11am
Quoting saha007
{quote} Yes I know its 8ma but I wonder how you get red and green colors in the same line. Is it an external indicator?
Sorry Saha - I understand your question now.
every Saint has a past. Every Sinner has a Future
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