What do you think about this seput?
What wasn't ok? I entered short at 1.9903 it falls a little until 1.9889 but then it gon up... and hit my stop
Any idee ehat i did wrong?
Hi guys.
In response to your requests, see the indicator below.
I've found it to be one of the most versatile pivot indicators, because you can play around with it and end up with your screen FULL of lines if that's what you're after!
In addition to the main pivots (which change automatically at midnight), you can activate fibpivots and camarilla Highs and Lows as well. You can customise it to your heart's content, putting in what you want to see or taking it out. There's colour adjustment as well.
As far as ADX is concerned, your MT4 platform will tell you all about it if you access the help page. Access "analytics" and then "technical indicators" and you'll be presented with a long list of indicators which you can individually select to get all the info you require.
Good luck.
Hey traders! My name is new to you as I have been just reading on this forum for some time now but not adding anything thus far. My background: I am a professional gambler and have been highly successful since 18 years old. I have turned 50 recently. If anyone has ?? about BJ or poker anything gaming related I probably have used it or no about it.
Ok let's move on. I have tried every indicator that is a household name and none thus far is a true leading one which we all should be seeking. I have always been an advocate of trend trading period!
I find this method very intriguing to say the least. Here is what I have witnessed to be a better entry and exit strategy. Nothing is black box here (one might decide to build one and accept less profit).
Ok here are some changes:
1. I have changed the EMA from 10 to 8 (to stay with fib numbers).
2. I always use Bollinger Bands i.e. close of bar and 20 periods
To go long:
1. Angle of 50 SMA needs to be trending up at a decent angle (subjective)
2. 8 & 21 EMA's need to be 8 on top of 21
3. ALL MA's need to be between both BB's (important)!
4. The entry should be on an up bar at close (this filters a possible retrace on the 8 & 21 EMA's which leads to being vulnerable to stop out)
5. The bar used for entry can be anywhere between 50 SMA and 8 EMA (the closer to 50 SMA the more likely a better move)
To go short:
Reverse above
HERE ARE SOME FINE POINTS FOR A BETTER TRADE
1. Steep 50 SMA angle
2. 8 & 21 EMA's both hinge to desired trade direction (added thrust or momentum)
3. Wide BB envelopes (more volatility = good thing
4. Angle of BB's inline with what the 50 SMA is doing
5. Wide separation between both 8 & 21 EMA's
WARNING SIGNS OF DETERIORATING TRADE
1. 8 EMA starting to hinge in reverse towards the 21 EMA
2. BB envelopes starting to squeeze (less volatility)
3. 50 SMA goes outside of BB (IMPORTANT FOLKS!)
4. Price itself is showing trend change
5. 50 SMA angle decreasing angle
I will not give any advice to money management as this area is really up to each persons style. Some may want to make more then 10 PIPS with better set-ups and some may wish to make 10 or less with not so great set-ups. Too much variables to consider. Risk/reward is important but I personally desire a method that works consistently foremost.
Any questions or comments are always welcome. I don't say good luck because I believe in good "standard deviations" for my outcome. So "good standards to all" !!!!!
Don (trader1)
Just wanted to make a quick post on a move on EURUSD that I was able to take advantage of.
Went long EURUSD @ 1.34215. Placed my TP @ 1.34347 just below the overhead resistance of 1.3435 (the highs of the 19th & 20th of June). Was watching this one with Daniel in the chat room. After 6 candles price had only moved about 4.5 points into profit, so I moved my SL to break-even. At the same time I was watching the cable charts and they were also moving strongly up, so was hoping that EURUSD would follow (setting my stop to BE took all the risk off the table as far as I was concerned). With my TP and SL set, it was a simple case of waiting. TP was hit about 90mins later and price spiked to just over 1.3442 just after my TP was hit. All in all 13.2 points in profit.
http://img253.imageshack.us/img253/1...22jun07jt5.jpg
Unfortunetly i closed that trade too early. Golfer rules that a trand longer then 5-6 candles its not ok... i closed that trade at 1.3426 with only 4 pips profit... Very good CHECKstar for your experiente and patience. Only this 5-6 candle rules made me close the trade..
