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  • #2,681
  • Aug 9, 2008 4:11am Aug 9, 2008 4:11am
Hey codemuncher,

Dont mean to have a go at you but I find that good's critique is to an extent justified.

What is it that you are trying to prove with your indicator? That BRV's method works?
We know that allready and him as well as others are showing us how to do it.

Using an indicator that tells us where S/R is and potential reversal points seems a bit pointless if you can learn to identify S/R yourself, which is btw the very core part of this method.
If I was to use your indicator and it lets me me down at some point as it surely will since there are no perfect indicators I would not understand why because I have not learned its mechanics and how to interpret it.

I personally have followed this thread because BRV does not use indicators and his method is successful.

So why are you introducing your indicator?
Unless I am overlooking something I fail to see the added value because its allready proven that BRV method works without it.
Be like a post stamp! Stick to it until you get there!
  • #2,682
  • Aug 9, 2008 4:32am Aug 9, 2008 4:32am
I'm joking when i said "Another possible reason for the muted move is that not as many Japanese are choosing to go to China for the olympics when they could be trading forex."

But it does signify sellers of the UY.

I've also noted that when a long term SRL is broken by the EU or UY often the other one breaks a long term SR within a few days.

steve
Don't kill your dreams - execute them.
  • #2,683
  • Edited 8:56am Aug 9, 2008 4:47am | Edited 8:56am
Hi All,

I am a newbie to this thread.

Could someone please tell me how the trade is made (on the calls). I mean, in the trade calls, I see many calls. Yet, all are not reflected in the thread performance. i.e. which are the official trades (or approved trades)


thanks in advance
  • #2,684
  • Edited 5:17am Aug 9, 2008 5:03am | Edited 5:17am
In strong downmove like that where there is no s/r price areas it looks like the first most reliable thing are psychological round mnumbers. Now we are at 1.5000 area but it doesnt look it will hold. The usd bulls didn't close their position for the weekend so i assume they are confident about further drop.
Then we got the descending triangle and price just bounced from the upper trendline. This confluences could result with another hard drop , but from this level we are going back to the old 1.4300-1.5000 range where we have some s/r areas on which some usd bulls will start to scale out their positions.On weekly there are still 2 good trendlines to be tested in the future. With momentum like that im not even thinking of buying pure touches without price confirmation. I know that Brv is not a big fan of trendlines but some of them (e/u weekly trendlines) are much longer on traders charts then latest s/r levels so i would expect price to react at those points.
Looking at the oil , it's 3 dollars from a major s/r level now.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.GIF Size: 21 KB
  • #2,685
  • Aug 9, 2008 5:11am Aug 9, 2008 5:11am
Quoting alif812
Hi All,

I am a newbie to this thread.

Could someone please tell me how the trade is made (on the calls). I mean, in the trade calls, I see many calls. Yet, all are not reflected in the thread performance.

thanks in advance
If you call a trade which is applying to the rules made by brv and observer be surre to put 'Track' in message title.
  • #2,686
  • Aug 9, 2008 9:01am Aug 9, 2008 9:01am
Quoting good
Hey codemuncher, what are you really upto here. None of your posts in any of the threads have anything to do with the actual topic or theme of the thread. Then you come up with the amazing '3' indicator that cleverly positions itself when a top or bottom is formed, and if a new top or bottom is formed, it changes its position and sneaks over there as if nobody is looking. Many here already know who you are. You are not fooling anybody. So please stick to the theme of the thread.
The theme of this thread is support and resistance if I am not mistaken. I read the PDF. It gave a description about using the high/low of candles as support/resistance levels. That's what I have been posting about support and resistance. Isn't that the theme of this thread? The PDF also gave a "clue" about watching ticks. I don't know how you came to your conclusion about my posts being OFF TOPIC.

The "amazing '3' indicator" is readily found here on FF and I didn't code it. But it does seem to indicate PAST support resistance levels very well. The problem some people has is that they don't really understand how to use indicators nor do they understand trading.
  • #2,687
  • Edited 9:29am Aug 9, 2008 9:05am | Edited 9:29am
Quoting SABTrader
I'm thinking an indicator that showed how many days its been since last seeing todays high or low would be very useful.

Friday the EU low was 1.4997. The last time we saw that price on the EU spot was on 27th Feb 2008 approx 120 trading days ago. Anyone that was trading a breakout system using anywhere from 40 to 120 days would of gone short on Friday if not short already. Basically a lot of people went short on Friday for this reason when price crossed 1.5285. And of course a lot of stops got hit.

As well as price thresholds being hit we had a close below that threshold which many won't respond to until Monday morning. So I'm expecting 1.50 to break on Monday. Some of them will stop trading without a stop after this.

Friday the UY high was 110.36 which was last seen on 10th Jan 2008 - 7 months ago approx 7x22 = 154 trading days ago. What is really significant here is that price didn't explode on Friday like it did with the EU mainly because 2 days prior there was a 150 day breakout when price crossed up through 109.00
Another possible reason for the muted move is that not as many Japanese are choosing to go to China for the olympics when they could be trading forex.

steve
Attached Image (click to enlarge)
Click to Enlarge Name: !!nobrain.gif Size: 12 KB


I think I understand what you want. That should be simple to do.

117 D1 bars ago today's low price was between that day's high/low price. Is that what you wanted?
  • #2,688
  • Aug 9, 2008 9:05am Aug 9, 2008 9:05am
Quoting alif812
Hi All,

I am a newbie to this thread.

Could someone please tell me how the trade is made (on the calls). I mean, in the trade calls, I see many calls. Yet, all are not reflected in the thread performance. i.e. which are the official trades (or approved trades)


thanks in advance

It gets kind of hard to track all calls being currently issued by some very accurate and some not so accurate (like myself) thread participants. My suggestion to you as a newcomer is to DEVOUR the pdf and then make use of further posts in the thread as of so far but try to weed out the ones that yield the greatest ease and simplicity to your trading behavior. Paper trade or use super-micro-mini-microscopic live account until you gain complete confidence in your OWN calls. Of course many...and I say a huge percentage of calls made in this very thread are highly successful. I know that because I try to keep a cleaner track for myself.

And please, erase ALL indicators. If you see yourself plotting stochs mac-daddys and funky stuff like that, by all means try to bite the desk for 3 seconds and rethink why you just put that funky thing there in the first place.


-good luck, sincerely !
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #2,689
  • Aug 9, 2008 9:24am Aug 9, 2008 9:24am
Quoting CodeMuncher
The theme of this thread is support and resistance if I am not mistaken. I read the PDF. It gave a description about using the high/low of candles as support/resistance levels. That's what I have been posting about support and resistance. Isn't that the theme of this thread? The PDF also gave a "clue" about watching ticks. I don't know how you came to your conclusion about my posts being OFF TOPIC.

The "amazing '3' indicator" is readily found here on FF and I didn't code it. But it does seem to indicate PAST support resistance levels very well. The problem some people has is that they don't really understand how to use indicators nor do they understand trading.
Guys, we are reaaaaly steering out of the topic and are seriously turning this thread into some sort of a bucket-thread where there is hardly any learning curve availability. In recent weeks and even days this place has literary exploded turning itself really hard to keep track of.

Making calls is wonderful and I am really happy that some many people are mastering this wonderful system. However, I myself am trying to breeze through it these days and I feel like I am not gaining the same pleasure and enjoyment from insightful market narratives and explanations from PROVED experts on market/trading techniques.

I fear that many smart people have already "abandoned" this great place for thoughts, shoved away from overposting. I, myself try to minimize my crap to a certain extent and try state something which could be of particular thought value to most people. Or so I hope
Anyway, indicator discussions are cool...but will feel misplaced here. Quarrels and personal accusations and crap like that...plenty of threads around. And please do not get me wrong. I may very well be part of the same "thread noise" which I try to minimize and heed to resourceful insights. Let us not try to chase calls, call accuracy and shit like that. The more you do it on your own the more you won't need anybody to pat you on the back.
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #2,690
  • Aug 9, 2008 10:46am Aug 9, 2008 10:46am
Quoting CodeMuncher
The "amazing '3' indicator" is readily found here on FF and I didn't code it. But it does seem to indicate PAST support resistance levels very well. The problem some people has is that they don't really understand how to use indicators nor do they understand trading.
That's the whole point, I dont want to understand this indicator. If I wanted to understand this or any indicator I'd go to a thread that is themed something like
“Trade with "amazing '3' indicator” and not here.

What you are proposing its effectively contrary to BRV's trading method in particular the core skill of identifying SR by looking at your chart and not at an indicator.
Newbies reading your posts could get very confused, thinking that this indicator is part of Billy Rays 'No Brainer' method, which it isn’t.

And given the fact that you still haven't answered my question that I asked you in my previous post (#2681) I would like to suggest that, if you are inclined to teach people about your indicator and the way you use it then open your own thread, make good calls, prove you can do it and people will come to you by themselves.
Dont hijack other people's successful threads and start altering the thread discussion as if your indicator is part of this method.
Be like a post stamp! Stick to it until you get there!
  • #2,691
  • Aug 9, 2008 11:39am Aug 9, 2008 11:39am
This is basically a open letter to codemuncher and group.
Firstly I have followed the group for the last 3 weeks or so and except and appreciate that trendlins and s/r are the way to learn and to trade effeciently.
Secondly I see it as a double headed coin, the chief concern of traders is to find the best s/r available the quickest and easiest method possible, so on the other hand if Codemuncher is adding to this thread on a regular basis which I see that he is by bringing new ideas and options into the arena then why dosent he share with the thread his indicators, giving us all the choice to either use them or not, end of.
But thirdly all I seem to hear from him is how great they are, and what wonderful bits of kit they are,
I have read several posts from contributors who have been very respectful and have asked pleasantly enough how to locate them or what is the idea and usage.
Now everybody either seems to get a knock back or no answer from him now this either to me smacks of arrogance or excuse my phrase a childlike nah nah na nah nah, I got them i'm dangling the carrot but let me wind you up and rub your nose in it some more.
Now if I am out of order then I apologise but is just the way I see it
So come on codemuncher if they are that great at finding s/r then why not give the thread the option to use them.
Respect to all
Tom(uk)
  • #2,692
  • Aug 9, 2008 8:24pm Aug 9, 2008 8:24pm
Rule number one when posting anything on the internet is "be nice".
Before hitting send on anything i ask myself if it passes that test.

Bragging about how great you can trade to a group of people trying to learn how to trade is not really being nice.

Lots of people read forums and this thread is now 68 pages long. I don't have the time to read all the posts on this thread. I wish i did. It would be nice if people didn't post so much useless info on forums.

BTW I don't consider appreciation useless and would like to add my thanks to BRV and all the other helpful and concise posters.
steve
Don't kill your dreams - execute them.
  • #2,693
  • Aug 9, 2008 8:27pm Aug 9, 2008 8:27pm
Quoting SABTrader
Rule number one when posting anything on the internet is "be nice".
Before hitting send on anything i ask myself if it passes that test.

Bragging about how great you can trade to a group of people trying to learn how to trade is not really being nice.

Lots of people read forums and this thread is now 68 pages long. I don't have the time to read all the posts on this thread. I wish i did. It would be nice if people didn't post so much useless info on forums.

BTW I don't consider appreciation useless and would like to add my thanks to BRV and all the other helpful and concise posters.
steve
I would like to also thank Billy for this thread. One bad week can't kill us right?
  • #2,694
  • Aug 10, 2008 2:21am Aug 10, 2008 2:21am
Quoting djambazov84
It gets kind of hard to track all calls being currently issued by some very accurate and some not so accurate (like myself) thread participants. My suggestion to you as a newcomer is to DEVOUR the pdf and then make use of further posts in the thread as of so far but try to weed out the ones that yield the greatest ease and simplicity to your trading behavior. Paper trade or use super-micro-mini-microscopic live account until you gain complete confidence in your OWN calls. Of course many...and I say a huge percentage of calls made in this very thread are highly successful. I know that because I try to keep a cleaner track for myself.

And please, erase ALL indicators. If you see yourself plotting stochs mac-daddys and funky stuff like that, by all means try to bite the desk for 3 seconds and rethink why you just put that funky thing there in the first place.


-good luck, sincerely !

Thanks for your input.

So, there is no hard and fast rule as to which trades are approved or official. But, out of curiosity, I would like to know, which are the trade calls that appear in Thread Performance list.

thanks
  • #2,695
  • Aug 10, 2008 5:03am Aug 10, 2008 5:03am
Quoting alif812
Thanks for your input.

So, there is no hard and fast rule as to which trades are approved or official. But, out of curiosity, I would like to know, which are the trade calls that appear in Thread Performance list.

thanks
They are the trades where people write "track" in the subject line
Time hides Nothing
  • #2,696
  • Aug 10, 2008 5:08am Aug 10, 2008 5:08am
Quoting alif812
Hi All,

I am a newbie to this thread.

Could someone please tell me how the trade is made (on the calls). I mean, in the trade calls, I see many calls. Yet, all are not reflected in the thread performance. i.e. which are the official trades (or approved trades)


thanks in advance
If you're here to just copy poeples trades from the "trade calls" then I think you're letting a valuable resource here go to waste...

With a bit of patience and effort you could learn how to trade this method yourself and not rely on othere poeples calls.

Just my 2 pence
Time hides Nothing
  • #2,697
  • Aug 10, 2008 5:50am Aug 10, 2008 5:50am
First, I'm a real newbie, trying to learn to apply the NB technique. I would appreciate critique on the following from any real trader:

Various press articles have said that 1.5 having been breached, the pair could now go down to 1.47 or 1.46

Chart-gazing, I find there is some support (Feb and Jan) on and around 1.4761, the 76 fib from the last major wave. The 1.476 area has been used as both support and resistance, but I also find support around the 1.49 area.

Applying what I have learned in this thread, I would prepare to set up a long at 1.4765, not the 1.49 area.

Or maybe I should just forget this and focus my chart-gazing at the 1.46 area?

Critique?

Thanks.
  • #2,698
  • Aug 10, 2008 6:26am Aug 10, 2008 6:26am
Quoting Grath
First, I'm a real newbie, trying to learn to apply the NB technique. I would appreciate critique on the following from any real trader:

Various press articles have said that 1.5 having been breached, the pair could now go down to 1.47 or 1.46

Chart-gazing, I find there is some support (Feb and Jan) on and around 1.4761, the 76 fib from the last major wave. The 1.476 area has been used as both support and resistance, but I also find support around the 1.49 area.

Applying what I have learned in this thread, I would prepare to set up a long at 1.4765, not the 1.49 area.

Or maybe I should just forget this and focus my chart-gazing at the 1.46 area?

Critique?

Thanks.
I dont think you can say that 1.5 has really been breached without an hourly candle closing under it
  • #2,699
  • Edited 8:32am Aug 10, 2008 7:38am | Edited 8:32am
Quoting Grath
First, I'm a real newbie, trying to learn to apply the NB technique. I would appreciate critique on the following from any real trader:

Various press articles have said that 1.5 having been breached, the pair could now go down to 1.47 or 1.46

Chart-gazing, I find there is some support (Feb and Jan) on and around 1.4761, the 76 fib from the last major wave. The 1.476 area has been used as both support and resistance, but I also find support around the 1.49 area.

Applying what I have learned in this thread, I would prepare to set up a long at 1.4765, not the 1.49 area.

Or maybe I should just forget this and focus my chart-gazing at the 1.46 area?

Critique?

Thanks.
I'm looking at the support at 4969... I would expect some kind of bounce there... (1st attached chart) only time will tell.

With the daily s/r levels in mind, the attached 5m chart demonstrates the minor s/r levels I've been trading on the 1m chart. Bumping this chart up to the 60m chart show which s/r level (for me anyway) have more significance.

(For mt4 users, the diagonal trendline plotter and the expert advisor on my charts are attached.)
Attached Image(s) (click to enlarge)
Click to Enlarge Name: ScreenHunter_04 Aug. 10 08.20.gif Size: 22 KB
Click to Enlarge Name: ScreenHunter_05 Aug. 10 08.28.gif Size: 17 KB
Click to Enlarge Name: ScreenHunter_06 Aug. 10 08.34.gif Size: 20 KB
Attached File(s)
File Type: mq4 AvgPrice MT.mq4   7 KB | 517 downloads
File Type: mq4 Auto TL 04.mq4   9 KB | 593 downloads
  • #2,700
  • Aug 10, 2008 12:40pm Aug 10, 2008 12:40pm
Hi all,
My tuppence.
I think the 4969 will be broken easily - look at the fundamentals!! and momentum.
The next major support is 44-45.
Thats where I'll be looking to trade - might go short around 49 on the way down.

Good trading.

Stew
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