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  • #1,641
  • Jan 16, 2008 9:01am Jan 16, 2008 9:01am
Quoting harold4x
lets examine todays signals as far as discretion goes in making a decision to put on trades remember that chosing not to put on a trade is an option also! since we know the conditons are oversold and these pairs already moved 200+ pips and when signal comes rsi on hourly is in 20"s which is oversold and stocs are in the 10's 1+1 will always be 2 reasons not to get on this bus. never forget there will always be another one it is ashame that these pairs moved so far without us but thats the way it goes sometimes. there is not alot of discretion with this method but a little common sense also comes into play sorry you guys took these losses when i got up saw what i saw i just went back to bed didnt take much to see the conditions even if i was bleary eyed does everyone understand where i am coming from if not speak up
Harold, when you say these pairs moved 200+ pips. From where did you start?
  • #1,642
  • Jan 16, 2008 9:01am Jan 16, 2008 9:01am
Quoting harold4x
well looks like nothing happening so i am done for the day are there any questions i will stay on for 10 minutes more to answer if not see you guys tonite
Harold are you using any of those indicators that Mikep had written a few weeks ago?
  • #1,643
  • Jan 16, 2008 9:07am Jan 16, 2008 9:07am
I think what Harold is saying is when you see the pairs move 200+ pips without a significant retracement the move is pretty much exhausted. These pairs tend to move a significant amount then retrace a bit as traders take profit. Then they begin a fresh move. When you see 200+ pip movements without a retracement you can expect a move in the opposite direction.

Just my two cents.
  • #1,644
  • Jan 16, 2008 9:11am Jan 16, 2008 9:11am
Quoting PipPrince
I think what Harold is saying is when you see the pairs move 200+ pips without a significant retracement the move is pretty much exhausted. These pairs tend to move a significant amount then retrace a bit as traders take profit. Then they begin a fresh move. When you see 200+ pip movements without a retracement you can expect a move in the opposite direction.

Just my two cents.
Thanks. Your two cents makes sense.
  • #1,645
  • Jan 16, 2008 9:13am Jan 16, 2008 9:13am
Also, I think his additional point is that the oversold condition on the Stochastic indicator on both the Daily chart and the One Hour chart confirm the indication that the move is exhausted.

I guess that's four cents now.

Harold, please chime in and confirm or correct my input.

Thanks
  • #1,646
  • Jan 16, 2008 9:15am Jan 16, 2008 9:15am
pip prince you hit it on the head even if you take all the indicators off the charts you see a significant downtrend from yesterday continuing on into today price moved a ton so when you come to the desk and see that and no retracement thats why you see the rsi in the 20's and the stocs at 10/15 so if you have oversold conditions on the daily and the conditions match also on the 1 hr chart thats some to take notice of. with all that said if you took the trades blindly you would have had a win with the cadjpy a loss with eurjpy followed by a win on reentry and the same goes for the gbpjpy so the record would have been 3 wins and 2 losses for a +30 there is that 60% i been telling you and as far as mikeps indicators just the one that texts my phone
  • #1,647
  • Jan 16, 2008 9:22am Jan 16, 2008 9:22am
concerning the trend take a look at these pairs on daily chart see how price when it pulls away from the 5 ema it always goes back to connect with it now it might be the resistence to the trend and it will continue down but price always returns to the ema well i gotta go if there any more questions i will get to them later wife beckons my presence see you guys later
  • #1,648
  • Jan 16, 2008 9:23am Jan 16, 2008 9:23am
So Harold ... if you take a losing trade and then the next hourly candle shows another signal to trade, you will get right back in with another trade on the same pair?

Thanks in advance.
  • #1,649
  • Jan 16, 2008 9:31am Jan 16, 2008 9:31am
you got me just before i left here is a chart of eurjpy the gbpjpy was the same
Attached Image (click to enlarge)
Click to Enlarge Name: 1.JPG Size: 101 KB
  • #1,650
  • Jan 16, 2008 9:34am Jan 16, 2008 9:34am
Hornet...I noticed you have some light blue areas colored on your charts. Is that the trading times for this method? How did you set it up to do that?
  • #1,651
  • Jan 16, 2008 9:37am Jan 16, 2008 9:37am
Harold, Thanks for hanging around and answering questions. Have a great day and thanks for all your help.
  • #1,652
  • Jan 16, 2008 9:45am Jan 16, 2008 9:45am
Quoting seamonkey
Hornet...I noticed you have some light blue areas colored on your charts. Is that the trading times for this method? How did you set it up to do that?
Indicator attached
Attached File(s)
File Type: mq4 i-ParamonWorkTime.mq4   5 KB | 524 downloads
The quality of your life is brought about by the quality of your thinking.
  • #1,653
  • Jan 16, 2008 9:48am Jan 16, 2008 9:48am
Kepp an eye on cad/jpy
possible signal short at 1500 candle.....

thoughts?
  • #1,654
  • Jan 16, 2008 9:50am Jan 16, 2008 9:50am
eur/cad would have to start moving up to corroborate?
  • #1,655
  • Jan 16, 2008 9:58am Jan 16, 2008 9:58am
scrap that, no trade.
going for lunch
  • #1,656
  • Jan 16, 2008 9:59am Jan 16, 2008 9:59am
Quoting logical1
Kepp an eye on cad/jpy
possible signal short at 1500 candle.....

thoughts?
nope, i don't see a cross coming. on the 30mins yes, but not on the hour
The quality of your life is brought about by the quality of your thinking.
  • #1,657
  • Jan 16, 2008 10:06am Jan 16, 2008 10:06am
EURO weakness accross the board, going to concentrate on eur/jpy short for next candle close.

my Dinapoli stoch has not crossed yet, but my other platform has.....I still will not enter though until dinapoli stoch crossed to keep the continuity.

thanks Hornet too!
  • #1,658
  • Jan 16, 2008 10:08am Jan 16, 2008 10:08am
Quoting hornet
Indicator attached
Thank you
  • #1,659
  • Jan 16, 2008 10:10am Jan 16, 2008 10:10am
OK i cheated a little,
out for +15 on eur/chf short

+50 for week
  • #1,660
  • Jan 16, 2008 10:29am Jan 16, 2008 10:29am
+32 on EJ. Helped make up for -42 on this mornings SL.
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