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  • #201
  • Oct 11, 2007 2:04pm Oct 11, 2007 2:04pm
  •  mld
  • | Joined Sep 2007 | Status: Pips Raining Cats & Dogs | 85 Posts
Quoting renasdad
I am on my way to finacial freedom and it would not make me happier to help someone else on that road.
Quoting WTB
Hey Renasdad, if I remember correctly your were trading price action off support/resistance levels correct?
Quoting renasdad
WTB,

You are correct. I do trade that way. I also have a couple systems I look at every now and then to see what is going on. Price action has alot to do with how I trade though.

Renasdad,

I love you because I see what you say is true and its pure in this composed fx market, I'm referring to the phrases you said “Price action” and also “Financial freedom” on the way, I'm already well connected with these two facts related (dreaming of 'em from time to time as well ) and eventually going to accomplish them when the funds arrive, I have something to ask you now as I'm less than 3 months learning into the market, how prices/pairs have been reacting in different market conditions in past years? I'm talking of price actions and its psychological movements, were they in most situations the same as they are now?

also as a newcomer, tell me how it usually happens that a broker comes against a trader as he's constantly winning pips in his account for such reasons?

Glad to came across to your inspiring thread, Peace with you and thank you man!

mld

  • #202
  • Oct 12, 2007 3:03am Oct 12, 2007 3:03am
I will not lie. This is a tough question. Market conditions have a wide variety of examples. Time of year, war, news. There are so many things that have a role on market conditions. Now looking back on charts, price action hasn't changed one bit. If you get a pin bar on a trendline no matter what time of the year, your chances on getting pips are very high. If price has consolidated for quite some time and then breaks out on a daily or weekly chart and that bar closes, your chances of getting pips are very high.
As for the second question about brokers, they don't want to lose money. BUT, when a person isn't scalping and is a longterm trader, how can they "screw" you? I am not to that point yet though as to where I am rolling in the money and wanting to withdraw funds. So, I don't know about that part. I just know my account is growing very well and there is nothing the broker can do about it when those "tick" charts can't touch my trades.
JOHN 3:16
  • #203
  • Oct 12, 2007 4:37am Oct 12, 2007 4:37am
  •  mld
  • | Joined Sep 2007 | Status: Pips Raining Cats & Dogs | 85 Posts

Thank you Renasdad for your comments to my questions,

As I have sensed it before this Market is nicely composed and one only needs to listen to it through the Price action. Just a boosting to me the way you strongly stated it hasn't changed one bit!

I already have heard some traders complain a broker has not honored a trade or so for such unusual reasons, anyway I don't scalp so not a big deal as I trade at 5min time frame and short-term and all trades over 15 min open also, I see I should see how it goes in my live trading,

Thanks for your time and help in your good thread

mld

  • #204
  • Oct 12, 2007 7:40am Oct 12, 2007 7:40am
hope someone here can help me out..........

i'm without metatrader so is there any indicator i can use to help reduce fake breakouts from patterns like triangles, wedges and rectangles ?

normally i use 1 hr charts and will enter when price close beyond trendline.

i also try to improve things by not entering if the bar that close beyond the trendline looks close to a pinbar. is this a good idea ?

oh yeah, i also check if the daily, 3hr periods are in the same trend as the 1 hr close. am i too cautious with these measures ?
  • #205
  • Oct 12, 2007 8:51am Oct 12, 2007 8:51am
i am new to forex, i have the manuals and watched tapes.....i tried a demo account and mae some profit.. but it is not just working out with the real thin...i made a loss.. please can you help me out with some good tutoring...i was given a robot.. that catches up to 150 pips but i do not know how to install it either....but i figured out the loss is bigger from the robot if you do not know how to set it....please i need titoring..and i would be very grateful to get help....you can pm me or mail me on [email protected] please help me..i will be happy if you can render your assistance renasdad.. thank you.
  • #206
  • Oct 12, 2007 8:59am Oct 12, 2007 8:59am
Quoting findcount
hope someone here can help me out..........

i'm without metatrader so is there any indicator i can use to help reduce fake breakouts from patterns like triangles, wedges and rectangles ?

normally i use 1 hr charts and will enter when price close beyond trendline.

i also try to improve things by not entering if the bar that close beyond the trendline looks close to a pinbar. is this a good idea ?

oh yeah, i also check if the daily, 3hr periods are in the same trend as the 1 hr close. am i too cautious with these measures ?

I don't know aboutan indicator you are talking about but the way you play th breakouts sounds like the way it should be done.
If you have a breakout and a pin bar is almost formed like you say, it would be wise to stay away from it. Although it depends on what kind of break out too. IMO, triangle breakouts are differant than S/R breakouts.
JOHN 3:16
  • #207
  • Oct 12, 2007 9:28am Oct 12, 2007 9:28am
Quoting angelguy
i am new to forex, i have the manuals and watched tapes.....i tried a demo account and mae some profit.. but it is not just working out with the real thin...i made a loss.. please can you help me out with some good tutoring...i was given a robot.. that catches up to 150 pips but i do not know how to install it either....but i figured out the loss is bigger from the robot if you do not know how to set it....please i need titoring..and i would be very grateful to get help....you can pm me or mail me on please help me..i will be happy if you can render your assistance renasdad.. thank you.
I sent you a PM. I will do what I can to help you.
JOHN 3:16
  • #208
  • Oct 12, 2007 9:34am Oct 12, 2007 9:34am
mld,
you said you have only been doing this stuff for 3 months. I know the 5 minute charts are where the action is. It is good to get away from those charts. I know how boring it is to sit and watch a daily bar form. Longerterm charts cause alot less stress on a person. If you can make it by trading on 5 minute charts, good for you. Just remember if it happens you get burnt alot trying to scalp, dont give up. Before you totallly give up, go to the longer charts.
JOHN 3:16
  • #209
  • Oct 12, 2007 12:40pm Oct 12, 2007 12:40pm
I check this thread everyday and Renasdad is always giving out free help - give em a *virtual hand*(an applause...)!
"Please sir, may I have some more pips?"
  • #210
  • Edited 2:57am Oct 13, 2007 2:31am | Edited 2:57am
  •  mld
  • | Joined Sep 2007 | Status: Pips Raining Cats & Dogs | 85 Posts
Quoting renasdad
mld,
you said you have only been doing this stuff for 3 months. I know the 5 minute charts are where the action is. It is good to get away from those charts. I know how boring it is to sit and watch a daily bar form. Longerterm charts cause alot less stress on a person. If you can make it by trading on 5 minute charts, good for you. Just remember if it happens you get burnt alot trying to scalp, dont give up. Before you totallly give up, go to the longer charts.
Renasdad,
I have observed the beauty of price movements (FYI I only trade ej,uj,gj and gu) that they are all the same in different time frames, of course, as a matter of fact I have found myself more powerful and less stressful at 5min chart and it is because of the candles movements quickness at 5min chart that I can continue watch them producing one after one then and before I go for a trade entry, for this very reason I'm more stressful at longer time frames as candles take more time to create and its damn boring and will reduce my observation to go for a entry, on the other hand Ive got more opportunities at 5min chart as my average trades per day is 5,
and btw I don't scalp at all, isn't scalping lower than 5 min trades?
mld
  • #211
  • Oct 13, 2007 7:42am Oct 13, 2007 7:42am
Quoting renasdad
I don't know aboutan indicator you are talking about but the way you play th breakouts sounds like the way it should be done.
If you have a breakout and a pin bar is almost formed like you say, it would be wise to stay away from it. Although it depends on what kind of break out too. IMO, triangle breakouts are differant than S/R breakouts.

many many thanks......you've no idea how much better you've made me feel.......

could you enlighten me as to how differently i should treat triangle and S/R breakouts ? i just use the same method.........though i read somewhere it's best to wait for a FULL candle to close beyond the trendline but i feel it may backfire.........

another headache for me is where to set SL.......so often i see my SL being hit and then it go the direction it should.........out of frustration , i set my SL furthur away but still fear of a bigger loss makes me nervous........

many thanks again.
  • #212
  • Oct 13, 2007 9:30am Oct 13, 2007 9:30am
Findcount,

As for triangle breakouts, you place a trendline on the top and bottom of the triangle. The distance from the top line to the bottom line is the "expected" distance price will break. a S/R breakout is not like that. I find it very hard to explain what I am thinking when it comes to this subject.
JOHN 3:16
  • #213
  • Oct 14, 2007 6:59am Oct 14, 2007 6:59am
Quoting J2FcM
I check this thread everyday and Renasdad is always giving out free help - give em a *virtual hand*(an applause...)!

long live Renasdad........forza Renasdad........viva Renasdad.........
  • #214
  • Oct 14, 2007 3:23pm Oct 14, 2007 3:23pm
Dear sir,iam looking for your help. Will you post any ea based on james16 price action ?

thanks to read.
Let's trade together.
  • #215
  • Oct 15, 2007 10:25am Oct 15, 2007 10:25am
  •  mld
  • | Joined Sep 2007 | Status: Pips Raining Cats & Dogs | 85 Posts
renasdad,
Is it possible my own trades in MT4 execute in my friend account on his behalf automatically in real time? is there such an EA or stuff?
this would be an amazing thing!
Let me know, thanks
  • #216
  • Oct 15, 2007 10:33am Oct 15, 2007 10:33am
That I am not sure about. I would suggest going on the metatrader forum and posting something about that.
JOHN 3:16
  • #217
  • Oct 15, 2007 10:36am Oct 15, 2007 10:36am
Quoting FXBaby
Dear sir,iam looking for your help. Will you post any ea based on james16 price action ?

thanks to read.
This is something that should be asked in the metatrader forum as well.
JOHN 3:16
  • #218
  • Oct 15, 2007 11:04am Oct 15, 2007 11:04am
hey renasdad

I've been trading for little over a year and I am making money. I have my system written down and everything is pretty much second nature. I know my system inside out.

My system is basically uses monthly s/r and i trade using daily. But recently I looked into 'what if'. I was thinking of using mva 50/100 on the weekly so that I trade with the trend. So if the moving averages are up and 50>100, I only buy at support (vice versa for short).

Currently my sytem doesn't implement 'trading with the trend' but it is working, meaning I make money usually every 3 month period.

Question is, do you think i should try out the moving average for 6 months or a year and see how it affects my trading. Or just stick to something that works??
  • #219
  • Oct 15, 2007 11:12am Oct 15, 2007 11:12am
Hilmy83,

50 and 100 MA's on a monthly chart are pretty big. Maybe try droping them down a little say, 30 and 60 or 25 and 50. I would say to stick with what you are making money at but do what you are trying talking about. Put it on a chart and see what it looks like.
JOHN 3:16
  • #220
  • Oct 15, 2007 12:07pm Oct 15, 2007 12:07pm
Contrary to rumour, it was not same sex marriage that killed off the dinosaurs, it was the inability to adapt to changing conditions. I think it is essential that one continue to refine and modify their methods and systems. Use a demo to test out the enhancements. If using a demo doesn't seem real, then open a small subacct for testing. One that will not get u into trouble while you try out new methodologies.
Quoting hilmy83
Currently my sytem doesn't implement 'trading with the trend' but it is working, meaning I make money usually every 3 month period.

Question is, do you think i should try out the moving average for 6 months or a year and see how it affects my trading. Or just stick to something that works??
In trading, there is no bullshit. You either make money or you don't.
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