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  • #9,701
  • Feb 7, 2025 6:17pm Feb 7, 2025 6:17pm
Quoting RobinHood
{quote} I agree, and I don't like the CAD much better.
Do you still agree with this?

The original post (Post#1675) was about someone saying to take away all CHF pairs because they are too difficult to trade. Granted this was 5 years ago, and i understand how people state that the markets are constantly changing. Just curious if your feelings are still the same towards CHF and CAD. Ironically, im currently in a losing trade of CAD and CHF hahaha.
Trying to learn how to learn how to teach a robot how to learn
  • #9,702
  • Edited 7:56am Feb 8, 2025 7:45am | Edited 7:56am
Quoting Webb1003
{quote} Gotcha. I want to be able to trade gold! Lol I can't. I've been through so many brokers and no one offers the CFD for us residents. Sucks for me I guess. Forex and stocks is what I can trade seems like.
There is a good alternative. Trade Gold Futures.

I would dare say that trading Futures is better than trading the Forex or stocks for the vast majority of traders, especially for U.S. residents.

That's because in the U.S. we have something called the PDT rule in the stock market, and it stands for "Pattern Day Trading" and it means:

"The Pattern Day Trader (PDT) rule is a regulatory rule that limits the number of day trades that can be made in a margin account. The rule applies to investors who make four or more day trades within a five-day period, and those trades account for more than 6% of the account's total activity" (From the Internet).

So to avoid this, you must have a minimum account balance of $25,000 USD, and if you go below that, the PDT Rule goes back into affect until you get back above $25k.

This rule only applies to trading stocks, but not to Futures.

I mostly trade stocks because I day trade them every day, and for the most part, I like day trading technology stocks, such as: Palantir, Amazon, Nvidia, Advance Micro Devices, Tesla, Meta, Apple, etc. (Tech stocks because they tend to MOVE a lot). I typically day trade whichever one(s) are moving up or down the most on that day.

I also "invest" in very high paying dividend stocks, with some of them paying dividends as often as weekly. Most of the ones that I invest in pay dividends in the range of 20%-50% or more. To me, doing this is a "No Brainer".

I have one that has averaged paying $374/month over the past year for every 10k of its stock that you own. Extrapolated out over a year, that's $4500. Do the math and let that sink in!

In my opinion, knowing what I now know, investing in high paying dividend stocks is what the vast majority of traders should actually be doing with their money.
Always a Student, Never a Master - Emulate What Works
  • #9,703
  • Feb 8, 2025 7:54am Feb 8, 2025 7:54am
Quoting Webb1003
{quote} Do you still agree with this? The original post (Post#1675) was about someone saying to take away all CHF pairs because they are too difficult to trade. Granted this was 5 years ago, and i understand how people state that the markets are constantly changing. Just curious if your feelings are still the same towards CHF and CAD. Ironically, im currently in a losing trade of CAD and CHF hahaha.
I still agree 100% with this. Regarding trading Forex pairs, my preferred ones to trade are:

EUR/USD
USD/JPY
GBP/USD
AUD/USD

GBP/JPY
EUR/JPY
AUS/JPY

No CHF, CAD, or any of the "exotics"
Always a Student, Never a Master - Emulate What Works
  • #9,704
  • Feb 8, 2025 11:32am Feb 8, 2025 11:32am
Quoting RobinHood
{quote} There is a good alternative. Trade Gold Futures. I would dare say that trading Futures is better than trading the Forex or stocks for the vast majority of traders, especially for U.S. residents. That's because in the U.S. we have something called the PDT rule in the stock market, and it stands for "Pattern Day Trading" and it means: "The Pattern Day Trader (PDT) rule is a regulatory rule that limits the number of day trades that can be made in a margin account. The rule applies to investors who make four or more day trades within a five-day...
Not sure how far off Brand we can go in regards to the original topic of this thread. But man you just opened a can of worms for myself. My stock journey so far started about 3 or 4 years ago or so when Dogecoin was being pumped by Elon. I bought in at .07 cents when I heard about it and then sold around .60 cents when he was on SNL.. that's where my journey begin. I thought to myself "this is easy! Just follow tweets and I become rich!" Boy was I wrong... But I did end up falling in love with trading, just probably wasn't the best way to start. I started learning about day trading stocks, thought that seemed amazing and easy untill I got the PDT rule slapped in my face on Robinhood. So I researched that and realized I could trade however much I want with a cash account! Sweet! But then I realized that also had limitations! I was doing ok. Mainly trading on breaking news to get a 10-20% jump then sell quickly.. but then i was done for the day cause my buying power ran out. Didn't like that. So I started to research other means of trading, I found forex(that Nononsense forex guy on youtube). Seemed to fit my schedule, my ideas, everything... It just doesn't necessarily fit my profit target lol I still enjoy forex though and am thoroughly not giving in on this fight. I see forex as more of a long term strategy to building some wealth... Unless i use extremely high risk and hopefully not blow 37 accounts before I hit bunch of good runs hahaha
But what you mentioned about futures has always somewhat been in the back of my head. Once you said that it was like the nail I needed. All morning now I've been researching how to get into futures trading and am having a VERY hard time deciding on a broker.
1. I'm not rich. So a minimum deposit of more than 500$ isn't always the most applicable for me.
2. I would Love to use trading view. Not sure why, but I'm drawn to it. Maybe it's the pretty colors.and bubbly buttons(whatever)
3. Confused. All these different types of tradable assets and markets and ECT ect aren't for the faint of heart. I'm sure it'll click sooner than later but for this morning currently I have a head ache.
I signed up for ninja trader but their charting platforms will take some time to figure out...

I guess I'm just curious if you know of any places like babypips. But for futures. I owe alot to babypips when I started forex. It sent me on a good path of understanding the market and how it moves.

Also maybe a site like forexfactory?, but for futures?. I know how to use Google, yes, but sometimes weeding out the garbage is just as difficult with so many damn options that pop up.
Trying to learn how to learn how to teach a robot how to learn
  • #9,705
  • Feb 8, 2025 12:46pm Feb 8, 2025 12:46pm
Quoting Webb1003
{quote} Not sure how far off Brand we can go in regards to the original topic of this thread. But man you just opened a can of worms for myself. My stock journey so far started about 3 or 4 years ago or so when Dogecoin was being pumped by Elon. I bought in at .07 cents when I heard about it and then sold around .60 cents when he was on SNL.. that's where my journey begin. I thought to myself "this is easy! Just follow tweets and I become rich!" Boy was I wrong... But I did end up falling in love with trading, just probably wasn't the best way to...
I am currently coaching another trader as to how to trade Futures (due to the 25k minimum to day trade stocks that he doesn't have) in the way I trade (at no charge) and I suggested that he use TradeStation as his broker AND his trading platform. He opened his account with them with only $200 BUT based on what he told me, you must designate that your deposit be into a Futures account. *No, I don't want to coach anyone else, for free or not.

I also suggested to him that he ONLY starts off by trading the MES (Mirco S&P 500) and the MEQ (Micro NASDAQ) as they are only $1.25 per point, and I think he said that the amount needed to trade 1 contract of either one is roughly about $170. Futures trade in "contracts", not in pips like the Forex or shares like stocks. PotAto - PotOto, they are all traded basically in the same way, it's just a little bit of the lingo is slightly different.

As far as figuring out a new trading platform, yes, I get it. You have to crawl before you walk, so I would suggest putting nothing on the chart but the 3, 8, 21, 34, 55 and 200 ema (to start off with) and then ONLY trading Continuation Trades.

As far as trading Futures goes, trading is trading. There's really not too much about trading them that's much different from trading stocks and the Forex.

As for a Futures trading forum, here are 2 good ones (I'm not a member of any trading forum but FF).

https://community.optimusfutures.com/ https://www.elitetrader.com/et/forums/index-futures.13/
Always a Student, Never a Master - Emulate What Works
  • #9,706
  • Feb 8, 2025 12:59pm Feb 8, 2025 12:59pm
Quoting RobinHood
{quote} I am currently coaching another trader as to how to trade Futures (due to the 25k minimum to day trade stocks that he doesn't have) in the way I trade (at no charge) and I suggested that he use TradeStation as his broker AND his trading platform. He opened his account with them with only $200 BUT based on what he told me, you must designate that your deposit be into a Futures account. *No, I don't want to coach anyone else, for free or not. I also suggested to him that he ONLY starts off by trading the MES (Mirco S&P 500) and the MEQ (Micro...
Thank you very much. Valuable information. I will look into these and all that you said.
Trying to learn how to learn how to teach a robot how to learn
  • #9,707
  • Feb 8, 2025 1:29pm Feb 8, 2025 1:29pm
Quoting RobinHood
{quote} I am currently coaching another trader as to how to trade Futures (due to the 25k minimum to day trade stocks that he doesn't have) in the way I trade (at no charge) and I suggested that he use TradeStation as his broker AND his trading platform. He opened his account with them with only $200 BUT based on what he told me, you must designate that your deposit be into a Futures account. *No, I don't want to coach anyone else, for free or not. I also suggested to him that he ONLY starts off by trading the MES (Mirco S&P 500) and the MEQ (Micro...
what timeframe do you tell him to use?
  • #9,708
  • Edited 2:41pm Feb 8, 2025 1:53pm | Edited 2:41pm
Quoting CogAlpha
{quote} what timeframe do you tell him to use?
3 min.

Here's why to day trade a 3 min. chart vs. a 1 min. chart.

1 min. on left, 3 min. on the right. The 1 min. chart is far too "noisy".
Attached Image (click to enlarge)
Click to Enlarge Name: 1 Min 3 Min.png Size: 121 KB
Always a Student, Never a Master - Emulate What Works
  • #9,709
  • Feb 8, 2025 3:32pm Feb 8, 2025 3:32pm
Quoting RobinHood
{quote} I also "invest" in very high paying dividend stocks, with some of them paying dividends as often as weekly. Most of the ones that I invest in pay dividends in the range of 20%-50% or more. To me, doing this is a "No Brainer". I have one that has averaged paying $374/month over the past year for every 10k of its stock that you own. Extrapolated out over a year, that's $4500. Do the math and let that sink in! In my opinion, knowing what I now know, investing in high paying dividend stocks is what the vast majority of traders should actually...
Hi RH.
I have to say that trading stocks is what i do all the time.
I like to pick dividend stock and collect additional money from dividends and options. Selling call options can increase overall result.
The main problem with dividend stocks is that paid dividend must be subtracted from stock price. It is obvious but i know from experience that many people who want to trade dividend stocks dont know about it.
Thats why i try to find stocks which price is rising over the time .

I have no idea what is a weekly dividend stock you have in your portfolio. I'd be glad to hear its name to make own investigation.
On Barchart website which is my main source of dividend information i havent found any weeklies.
All i have found is this below, some ETFs.
Attached Image (click to enlarge)
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  • #9,710
  • Feb 8, 2025 4:09pm Feb 8, 2025 4:09pm
Quoting iwan73
{quote} Hi RH. I have to say that trading stocks is what i do all the time. I like to pick dividend stock and collect additional money from dividends and options. Selling call options can increase overall result. The main problem with dividend stocks is that paid dividend must be subtracted from stock price. It is obvious but i know from experience that many people who want to trade dividend stocks dont know about it. Thats why i try to find stocks which price is rising over the time . I have no idea what is a weekly dividend stock you have in your...
I refer to them as dividend stocks, when in fact they are ETF's BUT I just assume that the vast majority of Forex traders here know what a stock is and not what an ETF is, so I say stocks as not to further confuse them. Some of the ones on your list I currently hold, and some of them pay dividends weekly, monthly and quarterly.

Also, notice that on the image you posted that they too called them: Weekly Dividend Paying Stocks

Here's some info on ETF's that pay dividends weekly:

https://www.etfcentral.com/news/ther...-dividend-etfs

To those who may not know, ETF's are Electronically Traded Funds, they trade just the same ways as stock, as also traded in shares just like stocks.

From the Internet:

An exchange-traded fund (ETF) is a collection of assets that can be bought and sold on a stock exchange like a stock.

How ETFs work

  1. ETFs can be used to invest in a specific sector, geography, or theme.

  1. ETFs can be traded throughout the day, and their prices fluctuate like stocks.

  1. ETFs can be used to make money by trading them, or some ETFs pay out money to investors.

  1. ETFs are made up of a group of stocks, bonds, or other assets.
  2. ETFs are usually passively managed, meaning they try to match the performance of a benchmark index.

Benefits of ETFs

  1. Diversification: ETFs can help reduce risk by providing exposure to a variety of investments.

  1. Cost: ETFs can be more affordable than actively managed mutual funds.

  1. Tax efficiency: ETFs can be more tax efficient than other investments.

Always a Student, Never a Master - Emulate What Works
  • #9,711
  • Feb 8, 2025 5:17pm Feb 8, 2025 5:17pm
Quoting RobinHood
{quote} I refer to them as dividend stocks, when in fact they are ETF's BUT I just assume that the vast majority of Forex traders here know what a stock is and not what an ETF is, so I say stocks as not to further confuse them. Some of the ones on your list I currently hold, and some of them pay dividends weekly, monthly and quarterly. Also, notice that on the image you posted that they too called them: Weekly Dividend Paying Stocks Here's some info on ETF's that pay dividends weekly: https://www.etfcentral.com/news/ther...-dividend-etfs...
Ok so I downloaded and funded(small) account on tradestation for futures. Opened the desktop platform and yeah..... Might take a little learning for this one. Seems much more advanced then just the oanda with mt4 for forex it'll take some time but not impossible. Seems like there are plenty of platform walkthroughs and tutorials available. Now I'm reading through all of your ETFs and dividend funds.. you've got a wealth of knowledge man! One step at a time for me. I'm taking note of all these things though and marking them off as I go.
Trying to learn how to learn how to teach a robot how to learn
  • #9,712
  • Edited 3:06am Feb 9, 2025 12:49am | Edited 3:06am
Hi RobinHood,

I am living in Europe and due to my full time job, I usually can’t trade at the US market open. Do you have any advice for traders who can only trade during the second half of the US stock market session? I have set up my charting and scanners in ThinkorSwim with EMA Roadmap setup, but I’m wondering what timeframes you’d recommend for scanning in this later part of the day. Also, do you think there are still sufficient opportunities for intraday trades after the morning volatility dies down?

Many thanks in advance!
  • #9,713
  • Edited 12:41pm Feb 9, 2025 7:03am | Edited 12:41pm
Quoting FlyingCat
Hi RobinHood, I am living in Europe and due to my full time job, I usually can’t trade at the US market open. Do you have any advice for traders who can only trade during the second half of the US stock market session? I have set up my charting and scanners in ThinkorSwim with EMA Roadmap setup, but I’m wondering what timeframes you’d recommend for scanning in this later part of the day. Also, do you think there are still sufficient opportunities for intraday trades after the morning volatility dies down? Many thanks in advance!
You asked for my advice so I will just give you my opinions (not that I know it all).

I don't like trading the second half of the day in the U.S. stock market, but if you must, I would stick to trading only the most volatile tech stocks, such as: Palantir, Amazon, Nvidia, Advance Micro Devices, Tesla, Meta, Apple, etc.

Otherwise, depending on where you are in Europe, I would suggest trading the most volatile stocks near their open where you are.

In stocks, I trade only two time frames. When day trading I trade the 3 min. charts. When swing trading or position trading I only trade the Daily charts. And as I have said many times before, I usually take a quick look at one time frame higher to confirm direction as I don't like trading against it.

In day trading, that's the 15 min. chart and when swing trading or position trading it's the Weekly chart.

I do think there are still sufficient opportunities for intraday trades after the morning volatility dies down BUT, you have to be much more selective as the volume tends to not be as high. Given the choice were I you, I would much rather trade the Open in a market near where you live.
Always a Student, Never a Master - Emulate What Works
  • #9,714
  • Feb 9, 2025 7:22am Feb 9, 2025 7:22am
Quoting RobinHood
{quote} You asked for my advice so I will just give you my opinions (not that I know it all).
Thanks a lot for the detailed advice!
  • #9,715
  • Feb 10, 2025 1:40am Feb 10, 2025 1:40am
-1R on gold today.

Scorecard:
Wins: 30
Loss: 8
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 60 KB
Find a strategy that works consistently and then trading becomes easy.
  • #9,716
  • Feb 10, 2025 9:34am Feb 10, 2025 9:34am
RSI TMS Color v0.5

Added:
- Update Mail Alert
- Add Sound Alert
- Update Alerts conditions :

  1. BUY SIGNAL

    1. RSI > 50
    2. Stock 8,3,3 > 50
    3. Stock 14,3,3 > 50

  2. SELL SIGNAL

    1. RSI < 50
    2. Stock 8,3,3 < 50
    3. Stock 14,3,3 < 50

Attached File(s)
File Type: ex4 RSI TMS Color_v0.5.ex4   11 KB | 363 downloads
  • #9,717
  • Feb 10, 2025 8:19pm Feb 10, 2025 8:19pm
Got on this short on GBPAUD - Daily TF
Attached Image (click to enlarge)
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Find a strategy that works consistently and then trading becomes easy.
  • #9,718
  • Feb 10, 2025 10:37pm Feb 10, 2025 10:37pm
Hii everyone,

I have been reading this thread for a while and thought of posting a setup of mine. I am very new so pls share your valuable feedback .

EURUSD Daily:

  1. Setup candle is the 2nd red candle.
  2. HMA < 5 EMA
  3. RSI(14) < 50
  4. Stoch lines are below 50
  5. Weekly and Monthly candles are both Red

Entry would be a short below the low of setup candle

Many thanks in advance !

Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 28 KB
  • #9,719
  • Feb 10, 2025 11:22pm Feb 10, 2025 11:22pm
Quoting cocandela
{quote} I made a BOT with the strategy posted by my friend iwan73. I make BOTS for hobby and love to programming, some send their strategies and ask me to make one with their strategy. I don't speak English, only Spanish, I use translators. If I can help, let me know. Thanks and congratulations {image}
Hi I'm creating a bot to trade gold but I'm missing on something, can you please help me finish creating it
  • #9,720
  • Feb 11, 2025 2:46am Feb 11, 2025 2:46am
Quoting Straasha
RSI TMS Color v0.5 Added: - Update Mail Alert - Add Sound Alert - Update Alerts conditions : BUY SIGNAL RSI > 50 Stock 8,3,3 > 50 Stock 14,3,3 > 50 SELL SIGNAL RSI < 50 Stock 8,3,3 < 50 Stock 14,3,3 < 50 {file}
Kindly share the mq4 version
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RobinHood