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  • #9,881
  • May 23, 2008 1:20pm May 23, 2008 1:20pm
Quoting Donyouth4eva
I closed all my long positions in profit today. After sunday night when asia opens up if it breaks 1.58 and how the market behaves tuesday morning i'll open up some new positions.Only 2 pip spread with interbank so no point in running them over weekend unless i want swap rate.
if u r in green pips congras bro well wish u all a nice weekend and catch u lata
by the way my new broker give 1 pip for all major currency and using meta 4 platform
i wana tkx u all of u , u were very helpful with ur analyses and as we said one hand cant clap hahah
cheers guys will miss u
  • #9,882
  • May 23, 2008 1:45pm May 23, 2008 1:45pm
Quoting warta
by the way my new broker give 1 pip for all major currency and using meta 4 platform
cheers guys will miss u
Which broker are you with? Don't let me jump ship. Yeah it was great trading with you guys this week and looking forward to next week trades. Have a good one.
  • #9,883
  • May 23, 2008 2:54pm May 23, 2008 2:54pm
Quoting Donyouth4eva
Which broker are you with? Don't let me jump ship. Yeah it was great trading with you guys this week and looking forward to next week trades. Have a good one.
am with crown forex a swiss broker
  • #9,884
  • May 23, 2008 4:43pm May 23, 2008 4:43pm
My buy has sl at breakeven +2, so it must have hit +32 at some stage - I have my own ea to supervise the trade.

The trade cannot turn into a looser, always a nice position to be in. Here is hoping for a big move up when the markets open up after the weekend.

Good luck everybody.

  • #9,885
  • May 23, 2008 5:03pm May 23, 2008 5:03pm
what EA do you use?

Quoting SteveHopwood
My buy has sl at breakeven +2, so it must have hit +32 at some stage - I have my own ea to supervise the trade.

The trade cannot turn into a looser, always a nice position to be in. Here is hoping for a big move up when the markets open up after the weekend.

Good luck everybody.

Skype: heliosphan187
  • #9,886
  • Edited 10:37pm May 23, 2008 7:08pm | Edited 10:37pm
Quoting DownRiverTrader
Next significant supply should come in around 5835. Not sure if we have the firepower in North America. Memorial Day Holiday Weekend coming.
It turned downward towards the end of the US session, while I was sleeping. Do you see this as the starting of the downward turn or just a simple correction or long weekend profit taking?
Expected the unexpected
  • #9,887
  • May 23, 2008 8:37pm May 23, 2008 8:37pm
my question is, how do we factor in the lost volume due to UK and US holiday on monday.. despite CPI coming in from Germany the same day.
  • #9,888
  • May 24, 2008 3:03am May 24, 2008 3:03am
Quoting warta
guys i will trade with u here on the poste hahah
the retrace may continue till geathering the 5 sma on the 4 h chart meah @ 1.5765 area
dude u got it thr. well done
  • #9,889
  • May 24, 2008 3:49am May 24, 2008 3:49am
hi guys hows u all
my simple view for the next week regarding the 15 min chart i see a classic bullish flag , i think the price will continue move long after a smal consolidation and small retrace down , we may see a short gap but usualy the price cover the gab if it was long or short but the main trend still long at least till monday night

Attached Image (click to enlarge)
Click to Enlarge Name: ch1.gif Size: 8 KB
  • #9,890
  • May 24, 2008 4:32am May 24, 2008 4:32am
Quoting Dirtybrown
what EA do you use?

One that I am writing myself. There are probably ea's already that do the same job, but I love writing my own software; it allows me to code functions that work exactly as I require. It will monitor trades by chart, ticket number, magic number and so on, so I can use it to monitor trades from a variety of sources such as ea's and scripts.

So far, it offers to move sl to breakeven at +X pips, jump the stop at X pips and trail the stop at X pips. I want to add a function to close half a position when the price reaches my chosen level.

After that, I will add functions as the need for them occurs to me.

I am always happy to share anything I do, as a thanks for the generous support I have received in the forums here. I will write some instructions later and post them with the ea so anybody can play with it if they want.


  • #9,891
  • Edited 7:14am May 24, 2008 6:34am | Edited 7:14am
hi guys this is my medium term view and as usual its not a call but my simple view.
as we can see its a clear bearish bat
cci start to cross the 0 line mean bearish move
rsi on his OS period and moving down
maybe we will see a fake break up till 1.5850 area then strong move down to the 1.5625 area to continue the bearich harmonic patterns

hope my analyse it can help u and see u next week and please if u have another view it can be welcome
regards


1h chart
Attached Image (click to enlarge)
Click to Enlarge Name: ch1.gif Size: 17 KB


4 h chart
bearish butterfly to confirm the 1 h pattern
Attached Image (click to enlarge)
Click to Enlarge Name: ch2.gif Size: 16 KB
  • #9,892
  • May 24, 2008 7:41am May 24, 2008 7:41am
Quoting warta
hi guys this is my medium term view and as usual its not a call but my simple view.
as we can see its a clear bearish bat
cci start to cross the 0 line mean bearish move
rsi on his OS period and moving down
maybe we will see a fake break up till 1.5850 area then strong move down to the 1.5625 area to continue the bearich harmonic patterns

hope my analyse it can help u and see u next week and please if u have another view it can be welcome
regards
How are your charts and conclusions different from those that you posted earlier today?
Expected the unexpected
  • #9,893
  • May 24, 2008 7:45am May 24, 2008 7:45am
Quoting scyang
How are your charts and conclusions different from those that you posted earlier today?

no bro its not different , we will see for a short term the 1.5860 area then the medium term will see a reversal down trend as u can see in both chart
  • #9,894
  • May 24, 2008 9:32am May 24, 2008 9:32am
Quoting SteveHopwood
One that I am writing myself. There are probably ea's already that do the same job, but I love writing my own software; it allows me to code functions that work exactly as I require. It will monitor trades by chart, ticket number, magic number and so on, so I can use it to monitor trades from a variety of sources such as ea's and scripts.

So far, it offers to move sl to breakeven at +X pips, jump the stop at X pips and trail the stop at X pips. I want to add a function to close half a position when the price reaches my chosen level.

After that, I will add functions as the need for them occurs to me.

I am always happy to share anything I do, as a thanks for the generous support I have received in the forums here. I will write some instructions later and post them with the ea so anybody can play with it if they want.


as an IT guy, I understand what you mean. you can dissect your EA rather than having to put faith in a "magical" blackbox. can it be backtested?
Skype: heliosphan187
  • #9,895
  • Edited 3:23pm May 24, 2008 11:02am | Edited 3:23pm
Quoting Dirtybrown
as an IT guy, I understand what you mean. you can dissect your EA rather than having to put faith in a "magical" blackbox. can it be backtested?

Yep, plus programming is a hobby. The ea doesn't need backtesting; all it does is monitor trades and move the stop loss at points I choose. I wanted a flexible monitor with the ability to do different things with different groups of trades, so the easiest way to get it seemed to be to write it myself.

I have attached the ea, along with instructions (I am a reasonable amateur software writer, play and teach a mean piano but am a rubbish writer, so sorry if any of them fail to make sense). The sl removing script is a quick one I knocked together to remove stop losses from a long list of orders whilst I test the ea works properly.

Back to trading, I made just shy of 600 pips last week trading fib retracements on 1h tf using the trend shown in the daily - 206 of them trading EU. The picture shows the latest trade, currently with a stop loss set at breakeven +2. I waited for the 'bounce' off 1.5691 and set a pending buy at half-way to the next resistance at 1.5818.

We can see how the market tested .5691 before taking off upwards, eventually getting to at least +30 (hence by be) before retracing slightly again. Maybe it will continue upwards on Sunday night (UK), maybe not, but it the trade cannot turn into a looser.

By-the-by, I don't want to sit gazing at my computer screen waiting for a price to hit a specific fib level, so I have written an ea to do the supervising for me, and set a pending order when the price moves to the point I want. Sing out, anyone who wants a copy.

Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 15 KB
Attached File(s)
File Type: mq4 Multi purpose trade manager.mq4   15 KB | 454 downloads
File Type: pdf Multi purpose trade manager instructions.pdf   61 KB | 1,966 downloads
File Type: mq4 Remove stop losses.mq4   1 KB | 371 downloads
  • #9,896
  • May 24, 2008 12:47pm May 24, 2008 12:47pm
Quoting SteveHopwood
...Sing out, anyone who wants a copy.
Thanks... i would love a copy!
  • #9,897
  • Edited May 25, 2008 2:00am May 24, 2008 3:13pm | Edited May 25, 2008 2:00am
Quoting Gandolf
Thanks... i would love a copy!
Here you are, with my pleasure.

'Fib waiting pending order setter EA' does the supervising bit whilst I am away from the computer. It goes in the Experts folder.

To use it, take my trade described earlier. I was waiting for the 'bounce' off 1.5691 and set a pending buy at half-way to the next resistance at 1.5818. I wanted a sl set half-way between the lower rp at .5691 and .5613 so, when I set up the ea I set:

FibPriceHigh=1.5818
FibPriceLow=1.5691
NextFibLevel=1.5613 (AutoStopLoss=true)

When the market retraced to the 1.5691 level, the ea sent a pending order with a stop loss set at half-way between 1.5613 and 1.5691. There is on-screen feedback to alert you to what is going on.

Bear in mind that the ea takes no account of broker spread. You have to include this yourself if you want it to influence your fib levels.

Setting AutoStopLoss to 'false' allows your 'SL' (stop loss) setting to be sent.

Come what may, 'TP' is your take profit, should you want to set one.

The two attached scripts I use to send immediate pending orders when the price has already hit my target fib level and the bounce might already be taking place, so there is no need to wait. They are merely cut-down versions of the ea that do the arithmetic for me and work in the same way, apart form their immediate effect.

I am posting this after a couple of glasses of wine, so I am not certain that my post makes complete sense. Feel free to ask for clarification if any of it does not make sense.

I hope some of this helps to make your life easier - it sure does for me.

Attached File(s)
File Type: mq4 Fib waiting pending order setter EA.mq4   7 KB | 400 downloads
File Type: mq4 Fib pending long Script.mq4   3 KB | 407 downloads
File Type: mq4 Fib pending short Script.mq4   3 KB | 384 downloads
  • #9,898
  • May 24, 2008 8:04pm May 24, 2008 8:04pm
Quoting SteveHopwood
Here you are, with my pleasure.

'Fib waiting pending order setter EA' does the supervising bit whilst I am away from the computer. It goes in the Experts folder.

To use it, take my trade described earlier. I was waiting for the 'bounce' off 1.5691 and set a pending buy at half-way to the next resistance at 1.5818. I wanted a sl set half-way between the lower rp at .5691 and .5613 so, when I set up the ea I set:

FibPriceHigh=1.5818
FibPriceLow=1.5691
NextFibLevel=1.5613 (AutoStopLoss=true)

When the market retraced to the 1.5691 level, the ea sent a pending order with a stop loss set at half-way between 1.5613 and 1.5691. There is on-screen feedback to alert you to what is going on.

Bear in mind that the ea takes no account of broker spread. You have to include this yourself if you want it to influence your fib levels.

Setting AutoStopLoss to 'false' allows your 'SL' (stop loss) setting to be sent.

Come what may, 'TP' is your take profit, should you want to set one.

The two attached scripts I use to send immediate pending orders when the price has already hit my target fib level and the bounce might already be taking place, so there is no need to wait. They are merely cut-down versions of the ea that do the arithmetic for me and work in the same way, apart form their immediate effect.

I am posting this after a couple of glasses of wine, so I am not certain that my post makes complete sense. Feel free to ask for clarification if any of it does not make sense.

I hope some of this helps to make your life easier - it sure does for me.



Note: Using the term 'broker' appears to result in a link to a broker site. This is a feature of the forum and nothing to do with me.
hi there, i am still very new to forex trading which is only 2 weeks old.. there's still alot of things to learn for me. do you mind to briefly explain the meaning of Fib and EA please? thanks it will be great. appreciate ur kindness
  • #9,899
  • May 24, 2008 9:00pm May 24, 2008 9:00pm
Quoting SteveHopwood
Here you are, with my pleasure. ...I hope some of this helps to make your life easier - it sure does for me.
That's great. Thanks so much. OK... now where do i send your 50 cents?

Oh... also... you are welcome to any of my indicators if you see anything in my FF journal that you might like.
  • #9,900
  • May 24, 2008 9:04pm May 24, 2008 9:04pm
Quoting ah_nen
hi there, i am still very new to forex trading which is only 2 weeks old.. there's still alot of things to learn for me. do you mind to briefly explain the meaning of Fib and EA please? thanks it will be great. appreciate ur kindness
here is a very good site to study and learn from


http://www.tradingpricepatterns.com/introduction/
Don't chase the market, Let the market come to you
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