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Simplicity is the ultimate form of sophistication ( Elite )

  • #341
  • Apr 2, 2008 2:22am Apr 2, 2008 2:22am
hey water,
Quote
Read News a day before ( if you are not a news trader, dont trade news events time)

could you explain this point a lil bit more to me? I am not a news trader
  • #342
  • Apr 2, 2008 2:52am Apr 2, 2008 2:52am
Have a look at this shot, just did it right now, looking for a entry on EUR/USD. Looks like CCI allready crossed but 3 MA is still quite far away
from 34 SMA. Donīt know what to do with that.

CHART TIMEFRAME: 1H

http://www.chixpoint.com/images/screen.jpg
  • #343
  • Apr 2, 2008 3:06am Apr 2, 2008 3:06am
CAVE- 15661 15657 DAILY AND WEEKLY PIVOT
Quoting li0uid
Have a look at this shot, just did it right now, looking for a entry on EUR/USD. Looks like CCI allready crossed but 3 MA is still quite far away
from 34 SMA. Donīt know what to do with that.

CHART TIMEFRAME: 1H

http://www.chixpoint.com/images/screen.jpg
BJ
  • #344
  • Apr 2, 2008 3:11am Apr 2, 2008 3:11am
Cave- 15661 15657 Daily And Weekly Pivot

???
  • #345
  • Apr 2, 2008 3:25am Apr 2, 2008 3:25am
Quoting li0uid
Cave- 15661 15657 Daily And Weekly Pivot

???
LOOK ot chart
Attached Image (click to enlarge)
Click to Enlarge Name: PICTURE.png Size: 29 KB
BJ
  • #346
  • Apr 2, 2008 3:34am Apr 2, 2008 3:34am
entry
Attached Image (click to enlarge)
Click to Enlarge Name: long usd jpn.png Size: 63 KB
BJ
  • #347
  • Apr 2, 2008 3:41am Apr 2, 2008 3:41am
so you look for Support and resistance before you decide to entry?
could you share the scripts based on your chart, like the timer for completing a candle bar or the daily/weekly pivot points, i am quite new to mt4. tnx for your help so far.
  • #348
  • Apr 2, 2008 3:50am Apr 2, 2008 3:50am
Quoting li0uid
so you look for Support and resistance before you decide to entry?
could you share the scripts based on your chart, like the timer for completing a candle bar or the daily/weekly pivot points, i am quite new to mt4. tnx for your help so far.
look rules from autor 1 page, nothing new, entry accordingly rules ,
BJ
  • #349
  • Apr 2, 2008 3:58am Apr 2, 2008 3:58am
I got caught in the trap yesterday of a lazy market.I held onto trades hoping they would come back and lost some pips yesterday.I should have known with the big moves to stay out or be very cautious.Owell you live and you learn I guess.
  • #350
  • Apr 2, 2008 4:00am Apr 2, 2008 4:00am
current

http://www.abload.de/img/now4o99.gif

scalp

http://www.abload.de/img/now5rdd.gif

i have missed the other entries like eurusd, usdjpy and eurgbp
  • #351
  • Apr 2, 2008 4:00am Apr 2, 2008 4:00am
Hi Brainjt,

That Pivot indicator looks like a useful one for MetaTrader, the ones that I have are not accurate in my opinion, but I concurr with the pivots you have suggested, and that is just from a visual inspection of the charts.

If you could share that indicator, I would be grateful.

Thanks.
  • #352
  • Apr 2, 2008 4:04am Apr 2, 2008 4:04am
Quoting li0uid
hey water,


could you explain this point a lil bit more to me? I am not a news trader
dont trade while news events , if you dont know to interpret them

http://www.forexfactory.com/calendar.php

see daily events and time, read them
  • #353
  • Apr 2, 2008 4:33am Apr 2, 2008 4:33am
where can i set up the time zones, if i look at my charts, local times are totally wrong
  • #354
  • Apr 2, 2008 4:42am Apr 2, 2008 4:42am
Quoting rogerha
Hi Brainjt,

That Pivot indicator looks like a useful one for MetaTrader, the ones that I have are not accurate in my opinion, but I concurr with the pivots you have suggested, and that is just from a visual inspection of the charts.

If you could share that indicator, I would be grateful.

Thanks.
autopivot
Attached File(s)
File Type: mq4 ###Auto Pivot.mq4   15 KB | 456 downloads
BJ
  • #355
  • Apr 2, 2008 5:23am Apr 2, 2008 5:23am
entry? seems i am allready too late or what you think


http://www.chixpoint.com/images/screen2.jpg
  • #356
  • Apr 2, 2008 5:27am Apr 2, 2008 5:27am
Quoting Kevyluvu
Well I should have not traded yesterday at all based on the rules. The market had some huge moves that were technical moves not related to news. When that happened, It should have been my final clue to just stay away and get out with +5 pips.

Well, in trades you will need patience, a cool head, following the rules, analyzing market conditions, and wait what the market will give you, not everyday is a shiny day, and you have just begun to trade with this tools.

I ended up trying a couple more trades and for the day I am down -31 pips. No big deal, it was a learning experience.

I hope you are not tradig live yet, i told to demo it for a few larger time (1 to 3 monthes) until you have the habit to trade with it.

One thing I am happy about is I am getting better at setting smaller stop losses and sticking to them. Before as a new trader I would move my stop loss hoping it would turn around for me. It rarely did.

This was made to simplify the system you can work with,
you have to learn to follow the rules and be disciplined, if this is your lack.

Hey Flame based on what you saw yesterday would you consider the market to be "sick". Here are my final results...

yes it was
.
  • #357
  • Apr 2, 2008 5:32am Apr 2, 2008 5:32am
Quoting li0uid
entry? seems i am allready too late or what you think

this is a 1H timeframe

if you would go long, and it revers, it already have hit my stop loss of the advertising candles low ( bigger timeframes are not to play with, they will eat you ) be hard at the stop loss rules.

as i told you, its not a good idea to trade signals in this condition back and forward, choose another pair and wait for entry, until this one have calm down.
  • #358
  • Apr 2, 2008 5:38am Apr 2, 2008 5:38am
so what timeframe should i trade as a beginner? didnīt you say as longer the timeframe as less fakes there will be?
  • #359
  • Apr 2, 2008 5:44am Apr 2, 2008 5:44am
Quoting li0uid
so what timeframe should i trade as a beginner? didnīt you say as longer the timeframe as less fakes there will be?
Yes bigger time frames have less fakes, you showed me one of the situations where fakes can appear, i answered with where your stop loss is, and to not re-enter a position in this market conditions, wait for something healthy

and the time frame is your choice

( i recommand to demo almost the 15 min, because its very active, and you can learn much more from it, how, why and what to do in different situations )
  • #360
  • Apr 2, 2008 5:54am Apr 2, 2008 5:54am
ok, just a example of a current running trade, what entry point would have been a good for me and where should i have placed the stop-loss ( i am here to learn xD )
i switched to M15 for this chart screenshot but i actually triggered this trade at 1H chart.

http://www.chixpoint.com/images/m15.jpg
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