Indicators show the past. Price Action "Indicates" the future.
- #13,261
- Aug 31, 2008 6:20pm Aug 31, 2008 6:20pm
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
- #13,262
- Aug 31, 2008 6:21pm Aug 31, 2008 6:21pm
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Indicators show the past. Price Action "Indicates" the future.
- #13,263
- Aug 31, 2008 6:24pm Aug 31, 2008 6:24pm
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Indicators show the past. Price Action "Indicates" the future.
- #13,265
- Aug 31, 2008 6:39pm Aug 31, 2008 6:39pm
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
I highly doubt Jarroo trades anything that isnt on a LIVE account. ALthough correct me if I am wrong Jarroo
Indicators show the past. Price Action "Indicates" the future.
- #13,266
- Aug 31, 2008 6:48pm Aug 31, 2008 6:48pm
- Joined Jul 2006 | Status: Charts + PA > * | 3,251 Posts
Waiting for the break on Usd/Gbp and I have a 10 pip entry above the PB on Gbp/Jpy
Trust price. Know yourself.
- #13,267
- Aug 31, 2008 6:51pm Aug 31, 2008 6:51pm
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Careful Jarroo, don't become one of those that commit the "Yo Thread! You are now my journal, b...!" sin
Indicators show the past. Price Action "Indicates" the future.
- #13,268
- Aug 31, 2008 7:21pm Aug 31, 2008 7:21pm
- | Joined Aug 2007 | Status: I keep my eyes open | 1,108 Posts
I think the premise of your question is flawed. PA on higher time frames can have the consistency of a hard metal, where the PA on the 1min/5min time frames can have the consistency of soup.
Did you come up with that quote yourself, Jaroo?.. Nice one!
One Chart is Worth Ten Thousand Words.
- #13,269
- Aug 31, 2008 7:22pm Aug 31, 2008 7:22pm
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Did you come up with that quote yourself, Jaroo?.. Nice one!
Indicators show the past. Price Action "Indicates" the future.
- #13,270
- Aug 31, 2008 7:24pm Aug 31, 2008 7:24pm
- | Joined Aug 2007 | Status: I keep my eyes open | 1,108 Posts
I bet if someone did some backtesting you would find them about the same on the 4hr / daily win rate about the same as the 5min charts.
One Chart is Worth Ten Thousand Words.
- #13,271
- Aug 31, 2008 7:25pm Aug 31, 2008 7:25pm
- | Joined Aug 2007 | Status: I keep my eyes open | 1,108 Posts
Yeah, I had soup for lunch that day.
One Chart is Worth Ten Thousand Words.
- #13,272
- Aug 31, 2008 7:26pm Aug 31, 2008 7:26pm
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
BTW, have you had a chance to look at my post?.. The one you deleted originally by mistake.
.
Indicators show the past. Price Action "Indicates" the future.
- #13,273
- Aug 31, 2008 7:38pm Aug 31, 2008 7:38pm
- | Joined Aug 2007 | Status: I keep my eyes open | 1,108 Posts
If you spread on the eur/usd is 3 pips you need a new broker. I used Oanda and DBFX, DBFX I have 0 spread on all pairs I pay a comission on it instead using a broker account. On Oanda I have a .9 spread just like everyone else. Also you are right, you need to have *0* emotion and just hit the button and let it do it's thing, I have been down 2-3 trades on the day and make it up being +10 as my goal. The think I like best about it is 2% gain is my goal per day and I get that 90%+ of the time per week, so 10% a week and most days my 1st trade is all I take and it happens in 1-3 hours sometime I have been done in 15min then I go out and do whatever. The problem I have with the 4hr is I am not home a lot of the time, so with the 5min once I get my +10 pips my day is done, I goto the lake and enjoy the rest of the day.
DBFX - if you are referring to Deutche Bank's retail FX service, I don't recall them having 0 pips spread on ALL pairs... They do commissions true, ON TOP of spread. I saw 0 pips spread, but only occassionally, and only on pairs like cable.
Having a goal in FX is a dangerous thing - when the market (PA) is not there, forcing the trades to meet the goal can lead to unpleasant results...
2% gain with a 10pips trade on M5. Oh boy, you must have the nerves of steel, as with even the most "fireproof" system in the world, any pait can more 10 pips AGAINST you in a blink of an eye...
But if you 200% sure in your system, and can get 2% in 15 min, why not go for 4-10% per day?
I am not being difficult here, but genuinely curious...
One Chart is Worth Ten Thousand Words.
- #13,274
- Aug 31, 2008 8:08pm Aug 31, 2008 8:08pm
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Majority of the time, yes. I will adjust my percent (Small, Medium or Full) depending on the probability I feel the trade dictates. These potential gap fill trades are at medium position.
Indicators show the past. Price Action "Indicates" the future.
- #13,275
- Aug 31, 2008 8:26pm Aug 31, 2008 8:26pm
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Indicators show the past. Price Action "Indicates" the future.
- #13,277
- Aug 31, 2008 8:29pm Aug 31, 2008 8:29pm
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
GbpUsd is tanking...
Indicators show the past. Price Action "Indicates" the future.
- #13,280
- Sep 1, 2008 3:14pm Sep 1, 2008 3:14pm
- Joined Feb 2008 | Status: sucker for punishment | 2,444 Posts
PATIENCE... DISCIPLINE