Len - Great call on GBP/JPY short, which was worth +41 PIPs to me this pm.
Thanks a million !
Best wishes, Loudoniii
PS: Took your advice also on the USD/JPY short, +21 PIPs .. thanks again.
- #2,452
- Aug 7, 2008 12:12am Aug 7, 2008 12:12am
- Joined Apr 2006 | Status: Trader | 1,459 Posts
from page 37 of the attached pdf...
"They are active – Note that no where in here did I say, find a successful trader swimming up
stream and jump on his back until you both drown. There is no free lunch and no matter how
many accounts you margined out to date, it is not someone else’s responsibility to make you
solvent. What I like is you teach someone a strategy and then they come back and say
something like, “SO what do you see for the Euro tonight?” My response? “Based on what I
taught you, what do you see for the Euro tonight?”
Good Luck, Good Trading.
.
- #2,453
- Aug 7, 2008 12:17am Aug 7, 2008 12:17am
- Joined Apr 2006 | Status: Trader | 1,459 Posts
CodeMuncher, your work is very interesting and I'm hoping you'll make it available to us all at some point in the future. BRV may or may not respond to this as most folks here are more or less shunning indicators... and in general, probably rightly so. That said, I can tell you that I've seen some cases where BRV has made reference to S/R lines going back a decade or two. Those older ones I think all correlated to higher time frames (Months or at least weeks). I'm not sure if your current analysis is "MTF aware". It is my impression that there is a sort of prioritization of S/R levels. One factor is how recent it is. Another is how high a time frame is it evident on. I'm not saying these are the only factors, but this is some of what I have gleaned. Even if you never make your indicator pulicly available here, I do appreciate your contribution. I expect some might think your work is misplaced here, but I feel that if it helps to quantify and "procedurize" what we are doing here, it adds value. As you know (so I must be talking to everyone else...), coding is evolutionary work, so one shouldn't be too quick to judge an early effort -- especially if it seems to come up short in some respect. It is code. It can be changed. "We can make it better"... Especially if we realize it is a tool to help us see more quickly what we are already attempting to decipher with our own reasoning. Thanks for your efforts.
Great answer in regards to the distance question. Thank you Qman! You're saving me some time here in my busy schedule
.
- #2,454
- Aug 7, 2008 12:19am Aug 7, 2008 12:19am
- Joined Apr 2006 | Status: Trader | 1,459 Posts
There's a little trick in metatrader to show price on fibo level as showed in attached screenshot.
Just simply open the Fibo object properties go to FiboLevels tab and for each level write the keyword : %$ , you can put something like this :
0.0 - %$
23.6 - %$
and so on..
Hope this helps a little bit
Cheers,
Skyline
I like this...thanks for the tip!