nice long today, tp 50
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DislikedUpdate my IBFX platfrom But if we exit by MACD rule then should be exit on vertical red line right? Because the value on that MACD bar(.254) is less than previous MACD bar(0.256)
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Disliked1. Is this an error... as the RED bars keep on going so far?
2. In the second pic, I am trying to run the back test as per your doco and get this error, any reason why?Ignored
DislikedIf you already have a broker, than I wouldnt worry about changing them just to have ITfinance charts, even tho they are good. If you dont have one, then IGMarkets are your best bet. If your new, start with $500 rather than a demo and deal with 1 mini unit. This way you introduce yourself to the psychological side of trading. Demo trading is a waste of time for any longer than 3 months.
After losing money for 6 months(you will!) a light bulb will turn on in your head and than everything makes sense and trades are nothing but opportunities to make money(which you can now do regularly).
GCTraderIgnored
DislikedO.K. let's have a look at the last trade.
Bbsqueeze prints magenta dot at the waterline giving a heads up to an impending trade (a bollinger band sqeeze is forming). Bbhisto prints red dots indicating a possible short however, there is no cross of the waterline by the DPO so no short entry ( oh boy, there is that hindsite again ). Bbhisto then prints a green dot with Macd histo and DPO (rising) confirming. Bandwidth also rising towards .0056 level. Either of the two bars marked with vertical blue line could have been an entry. Once again, not a completely mechanical signal, some discretion is still required by the trader. A some what later signal could have been taken when the Bandwidth crossed the .0056 threshold - a safer entry but less pips ???
To answer Colostarr's question: Yes the setup is for MT4. The attached template should help with your setup. The indicators are available from post 141. DPO was initially just drag and dropped from the indicators list ontop of bbsqueeze, the rest of the indicators were just attached to the chart as per usual. The magenta dots that appear on the bbsqueeze are your heads up that a bollinger band squeeze is occuring and it may be time to watch for a trade. All of the other indicators must line up - DPO must cross waterline, bbhisto must print appropriate coloured dot, Macd signal must corroborate and Bandwidth must be rising and be ready to or already crossing the .0056 level. When all the ducks are in a row that is theoretically when one pulls the trigger. Please be aware that this is currently just a test set up for MT4 in an attempt to mimic GCT'S entries. Needs some practice as it is not quite as mechanical as GCT's method on the IT Finance platform. Practice before you play!Ignored
DislikedThat sux. Well if an awesome charting package is needed, than ITfinance can help you out. I just sent them an email to find out prices for their service...
GCTraderIgnored
DislikedUpdate my IBFX platfrom But if we exit by MACD rule then should be exit on vertical red line right? Because the value on that MACD bar(.254) is less than previous MACD bar(0.256)
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