DislikedHi thanks for this indicator...I'm lookinf for this one couple time agoIgnored
Mister ED
- #7,584
- Oct 23, 2007 12:31am Oct 23, 2007 12:31am
Well done, Edonya!
I only wish I was awake to take that one myself! Great trading and trade management!Another confirmation for your trade was the bullish MACD divergence that co-incided with the Double Bottom MACD signal. For those traders that, like me, don't always remember to check for divergence, I found this MACD Divergence indicator that you can overlay in the 4hr MACD window of your chart. Just change the divergence MACD settings to 5:13:1 and it'll automatically draw the divergence lines on your chart.The up/down arrows (buy/sell signals) co-incide nicely with 4hr MACD signals sometimes, as was the case here.
Wishing you all many pips.
Thanks alot for the comments. I am learning each day and i'll continue posting my trades as i take them,for the great members comments as i increase my confidence and experience.
One thing i have learned as a new fiorex trader according to this system is the R:R ratio is Very important.
Lots of pips as my prayer to everybody.
- #7,586
- Oct 23, 2007 12:40am Oct 23, 2007 12:40am
- Joined Jul 2007 | Status: Screw Long Term 5min For Life! | 1,259 Posts
Keep taking CT trades, I need more money
- #7,589
- Oct 23, 2007 2:57am Oct 23, 2007 2:57am
Welcome to all the new members (and a special hello to Shreem...Welcome back!!)!
I see some of you are going live for the first time! Congrats!! This is a very exciting time for you! Looks like most have demo traded and have a feel for what they are doing...very important stuff
Remember not to overtrade....Remember not to look for a trade (plan for one and let it come to you)...Focus on what the market is telling you. Continue to work hard, study your trades, study the market and realize sucess is within your grasp (but it will most likely take longer than you originally expected). Also, if possible....start your first account w/25% of your trading capital...this way you protect the bulk for when you really are good at making pips and have as much behind you as possible!
OK...I'm done for the day....Happy pipping all!
Pips
I am doing exactly that till i grasp everything. An d i'll be taking one pair at a time even two or more pairs give a signal the way they did today morning, but i decided to take on the cable.
MACD gave a RB of which i could have entered at 04:00hrs but i was a sleep so i thought it is still valid at 08:00Hrs and entered.
It found support at SMA200. So my expectation was that it will test SMA89.
Entered at 2.0338
SL- 2.0287
TP1- after 30 pips(2.0369)
TP2-at2.0380(the 89SMA was at 2.0384)
Still doing with microlots.
It went according to my expectation.
I dont know whether it was luck or my analysis were okay.
still learning.
Thanks alot for that advice pips4uandme.
I am doing exactly that till i grasp everything. An d i'll be taking one pair at a time even two or more pairs give a signal the way they did today morning, but i decided to take on the cable.
MACD gave a RB of which i could have entered at 04:00hrs but i was a sleep so i thought it is still valid at 08:00Hrs and entered.
It found support at SMA200. So my expectation was that it will test SMA89.
Entered at 2.0338
SL- 2.0287
TP1- after 30 pips(2.0369)
TP2-at2.0380(the 89SMA was at 2.0384)
Still doing with microlots.
It went according to my expectation.
I dont know whether it was luck or my analysis were okay.
still learning.
). You had price supported at 200 (and there is a daily support line there too (don't forget to draw in your s&r lines)...Then the nice bullish engulfing candle (my chart didn't look so nice as yours took a few exta hours to decide to enter w/retest of support line at ~2.0345 and a reallly nice RB at an "extremish" level (over 30)and hourly confirmation...but I digress on your analysis!) Then you had a stinger saying "Hey, look at my pretty tail!! Then run the other direction!!! hehe....& lastly, the trade was in the overall trend direction (up) which is always a plus. Nicely done again! (my trade just closed at 2.0416...and the RB is still so pretty....now, will look for a retrace with macd momo still going up to re-enter if given the opportunity...think we may not have the chance though)...Again, Great Job!!! This is how you learn to make profitable trades consistently. Keep up the good habits!
Best,
Pips
Hi guys!
Ira: thanks for the post to Phillip -- it helped me a lot...my attitude has been very stinky lately and you helped me see my selfish ways...Thank you!
Ryanmacd, Shreem, Nadia and all other members who posted to Phillip....You guys are amazing! It is members of our supportive community that make this place great!!
We all know how difficult it is to learn to trade (and how freakingly long the process is)...but, others are only starting out and don't understand basic trading skills. These are the people who usually hop from system to system looking for the "Holy Grail." Also, many people are unrealistic at how much time needs to be devoted to this business...They think the infomercials are how it works and aren't willing to learn the processes....These are also the people who aren't willing to put the time into learning, practicing and testing themselves (and that's ok too...we need these types in the market so we can get our pips!). There is truly only one way to know if you can trade this method (I don't really like calling it a system b/c that implies mechanical black box to me)...that is to practice it for yourself and to test it for yourself. If it isn't working right, then we come help you figure out what (if anything) was overlooked...and if you are truly lucky...(hehe)...The "Master" will help you figure out what you can do better to improve your trading results. That's right...Help YOU FIGURE OUT WHAT YOU CAN DO BETTER...trading really is an individual sport....
OH...And to any of the doubter's of the system...So far this month...on 2 main currency pairs...Pips for the month are over 600 (not including any of my yen trades, only Majors). Average return on my account per month is 48% (Over the last 10)....I don't think those are stinky results at all...and I still have much room for improvement!
Happy trading all!
Pips
Ira: thanks for the post to Phillip -- it helped me a lot...my attitude has been very stinky lately and you helped me see my selfish ways...Thank you!
Ryanmacd, Shreem, Nadia and all other members who posted to Phillip....You guys are amazing! It is members of our supportive community that make this place great!!
We all know how difficult it is to learn to trade (and how freakingly long the process is)...but, others are only starting out and don't understand basic trading skills. These are the people who usually hop from system to system looking for the "Holy Grail." Also, many people are unrealistic at how much time needs to be devoted to this business...They think the infomercials are how it works and aren't willing to learn the processes....These are also the people who aren't willing to put the time into learning, practicing and testing themselves (and that's ok too...we need these types in the market so we can get our pips!). There is truly only one way to know if you can trade this method (I don't really like calling it a system b/c that implies mechanical black box to me)...that is to practice it for yourself and to test it for yourself. If it isn't working right, then we come help you figure out what (if anything) was overlooked...and if you are truly lucky...(hehe)...The "Master" will help you figure out what you can do better to improve your trading results. That's right...Help YOU FIGURE OUT WHAT YOU CAN DO BETTER...trading really is an individual sport....
OH...And to any of the doubter's of the system...So far this month...on 2 main currency pairs...Pips for the month are over 600 (not including any of my yen trades, only Majors). Average return on my account per month is 48% (Over the last 10)....I don't think those are stinky results at all...and I still have much room for improvement!
Happy trading all!
Pips
- #7,600
- Oct 23, 2007 6:26am Oct 23, 2007 6:26am
- Joined Apr 2007 | Status: Trader | 1,021 Posts
Hi guys!
Ira: thanks for the post to Phillip -- it helped me a lot...my attitude has been very stinky lately and you helped me see my selfish ways...Thank you!
Ryanmacd, Shreem, Nadia and all other members who posted to Phillip....You guys are amazing! It is members of our supportive community that make this place great!!
We all know how difficult it is to learn to trade (and how freakingly long the process is)...but, others are only starting out and don't understand basic trading skills. These are the people who usually hop from system to system looking for the "Holy Grail." Also, many people are unrealistic at how much time needs to be devoted to this business...They think the infomercials are how it works and aren't willing to learn the processes....These are also the people who aren't willing to put the time into learning, practicing and testing themselves (and that's ok too...we need these types in the market so we can get our pips!). There is truly only one way to know if you can trade this method (I don't really like calling it a system b/c that implies mechanical black box to me)...that is to practice it for yourself and to test it for yourself. If it isn't working right, then we come help you figure out what (if anything) was overlooked...and if you are truly lucky...(hehe)...The "Master" will help you figure out what you can do better to improve your trading results. That's right...Help YOU FIGURE OUT WHAT YOU CAN DO BETTER...trading really is an individual sport....
OH...And to any of the doubter's of the system...So far this month...on 2 main currency pairs...Pips for the month are over 600 (not including any of my yen trades, only Majors). Average return on my account per month is 48% (Over the last 10)....I don't think those are stinky results at all...and I still have much room for improvement!
Happy trading all!
Pips
I was reading your post.
48%........I was wondering would you put some of your analyses here .I don't mean to follow it blindly but for me ,I see lots of oppurtunities and I plan them perfectly but still I don't have self confidence to pull the trigger!!but if I see your analyses is almost like mine then I get that self confidence to trade .
Please advise if I am wrong.
Regards
Mike
Failure, is a wonderful teacher!