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Help needed in OANDA + users from Malaysia 105 replies

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  • #18,921
  • Oct 16, 2008 7:42pm Oct 16, 2008 7:42pm
Price bounce on 4H 50ema - it's been 7 times attempt to breach this resistance ..
Also price also just completed 61.8 retrace..
Short setup looks good as long as price stay below 4H 50ema.
Will consider short if next candle form well below this MA in the next 2H 20min
Attached Image
R1 BPL R2 FA R3 CL ALL still ON
  • #18,922
  • Oct 16, 2008 11:21pm Oct 16, 2008 11:21pm
Almost 10x already attempt to breach 1H 50ema ..
Maybe today she can do it during EURO/LONDON..

Next Resistance will be 1H 100SMA - that's where I will decide for today EU trade & if breach below TL I will go short ..
Attached Image (click to enlarge)
Click to Enlarge Name: eu3.gif Size: 18 KB
R1 BPL R2 FA R3 CL ALL still ON
  • #18,923
  • Oct 16, 2008 11:33pm Oct 16, 2008 11:33pm
Actually I anticipate the next hour EU will go through those 1H 50ema & upper TL and reach 61.8 Fib .. While London push price back down below.

Anything can happen and some more today is FRIDAY..
R1 BPL R2 FA R3 CL ALL still ON
  • #18,924
  • Oct 16, 2008 11:42pm Oct 16, 2008 11:42pm
on 4H

Retracement are due..
50.0 Fib retracement @ 1.77XX - not today , maybe next week..
Resistance on 4H - 50ema , 100sma and upper TL before she can reach those 50.0 Fib retracement..

and on 1H price caught in between 1H 50ema and 1H 100sma , now stil undecided where she should go..
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu3.gif Size: 15 KB
Click to Enlarge Name: eu.gif Size: 20 KB
R1 BPL R2 FA R3 CL ALL still ON
  • #18,925
  • Oct 16, 2008 11:58pm Oct 16, 2008 11:58pm
1H - if price close below 1H 50ema @ 0.6824 only then will convince me to go short.
So far so good for short setup ..
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 17 KB
R1 BPL R2 FA R3 CL ALL still ON
  • #18,926
  • Edited 1:24am Oct 17, 2008 12:30am | Edited 1:24am
Just wanna share this superb strategy.

IB = inside bar ( High and low are not more than previous bar high and low )

Go short on next candle when price past lower IB
Go long on next candle when price past higher IB

SL just put on either high or low IB
When price has move to your satisfaction , just move SL to entry.

Suggested use it on 1HR TF

Benefit..

We will catch the trend early.
Good RR


For further info pls search FF for user name - Peter Crown and Jaroo (Dibs thread)
R1 BPL R2 FA R3 CL ALL still ON
  • #18,927
  • Oct 17, 2008 12:32am Oct 17, 2008 12:32am
Pls see today example for AU using iB strategy
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 12 KB
R1 BPL R2 FA R3 CL ALL still ON
  • #18,928
  • Oct 17, 2008 1:19am Oct 17, 2008 1:19am
another example iB on EU ..
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 16 KB
R1 BPL R2 FA R3 CL ALL still ON
  • #18,929
  • Oct 17, 2008 7:05am Oct 17, 2008 7:05am
Another sample for today

Look for bull iB .. nice RR ratio 1:3 as of now..
Attached Image (click to enlarge)
Click to Enlarge Name: eu2.gif Size: 17 KB
R1 BPL R2 FA R3 CL ALL still ON
  • #18,930
  • Oct 17, 2008 7:06am Oct 17, 2008 7:06am
Quoting GrodoT
Just wanna share this superb strategy.

IB = inside bar ( High and low are not more than previous bar high and low )

Go short on next candle when price past lower IB
Go long on next candle when price past higher IB

SL just put on either high or low IB
When price has move to your satisfaction , just move SL to entry.

Suggested use it on 1HR TF

Benefit..

We will catch the trend early.
Good RR


For further info pls search FF for user name - Peter Crown and Jaroo (Dibs thread)
I use the same strategy too. It suitable either on trending or sideway market.
Go figure.. Simplicity work
  • #18,931
  • Oct 17, 2008 7:10am Oct 17, 2008 7:10am
im seeking all of ur respective opinion..am i ready to trade if i can consistantly make 500usd or more per day using a mini account...honest and constructive opinion from fellow malaysians required...
  • #18,932
  • Oct 17, 2008 7:12am Oct 17, 2008 7:12am
Quoting tokwanden
I use the same strategy too. It suitable either on trending or sideway market.
Agree - it is so simple and we can manage the risk in more manner..
R1 BPL R2 FA R3 CL ALL still ON
  • #18,933
  • Oct 17, 2008 7:19am Oct 17, 2008 7:19am
Quoting GrodoT
Agree - it is so simple and we can manage the risk in more manner..
Check it out eu ib at 7pm malaysia time. I enter when it broke upper side. I only risked 15 s/l. Banked 60 pips. Not bad for 2 hour/bar exit strategy.
Go figure.. Simplicity work
  • #18,934
  • Edited 7:43am Oct 17, 2008 7:32am | Edited 7:43am
Quoting zeus_ares86
im seeking all of ur respective opinion..am i ready to trade if i can consistantly make 500usd or more per day using a mini account...honest and constructive opinion from fellow malaysians required...
Zeus .. I don't know either ..my experienced was less than a year ..
If you do already have solid strategy that you believed into and gave consistent profit - I guess you do ready for it... doesn't matter which type account you have ...

But I do believe physicological aspect will be the key..eg. the hardest thing will be to detach emotionally yourself from the money which I guess everbody have the same problem...

But from the other perspective , this bussiness is about making money , so, who cares - as long as I make money and reach my target - I should be happy about it..The only thing is , do you prepare to lose money ??, thats where emmotion play a part ..but as long as you have good MM and RR management - that should be not a problem ...
R1 BPL R2 FA R3 CL ALL still ON
  • #18,935
  • Oct 17, 2008 7:35am Oct 17, 2008 7:35am
Quoting tokwanden
Check it out eu ib at 7pm malaysia time. I enter when it broke upper side. I only risked 15 s/l. Banked 60 pips. Not bad for 2 hour/bar exit strategy.
R1 BPL R2 FA R3 CL ALL still ON
  • #18,936
  • Oct 17, 2008 7:40am Oct 17, 2008 7:40am
Quoting zeus_ares86
im seeking all of ur respective opinion..am i ready to trade if i can consistantly make 500usd or more per day using a mini account...honest and constructive opinion from fellow malaysians required...
It depends bro. How long u consistantly making profit? I would suggest at least 3 month consistantly profit before u consider for real.

The amount of profit dont reflect the readiness as it can easyly achieved by the power of laverage.

It all up to u bro. I'm not good in giving an opinion maybe other will.
Go figure.. Simplicity work
  • #18,937
  • Oct 17, 2008 7:48am Oct 17, 2008 7:48am
Quoting GrodoT
Zeus .. I don't know either ..my experienced was less than a year ..
If you do already have solid strategy that you believed into and gave consistent profit - I guess you do ready for it... doesn't matter which type account you have ...

But I do believe physicological aspect will be the key..eg. the hardest thing will be to detach emotionally yourself from the money which I guess everbody have the same problem...

But from the other perspective , this bussiness is about making money , so, who cares - as long as I make money and reach my target - I should be happy about it..The only thing is , do you prepare to lose money , thats where emmotion play a part ..but as long as you have good MM and RR management - that should be not a problem ...
I conquer .
Go figure.. Simplicity work
  • #18,938
  • Oct 17, 2008 8:05am Oct 17, 2008 8:05am
Quoting tokwanden
I conquer .
thx for d reply bro..to me..trading is like a business,it's like playing poker..a good poker player is well equipped with money management,risk management and probabalities.it also involves psychology, on what the other players are thinking n what other players thot u r thinking..same goes for forex n other market..we have to find out what others r thinking..put it simple,there is a reason behind what u guys were discussing juz now..i use the same method..however,i use it to scalp for bigger gains using shorter TF.

playing poker is nt a good thing,however,it has taught me a lot of lessons..applicable to many things in life..gud thing is, the same goes for market trading..thank u 4 ur reply..neways,do u think i am ready..been learning day in n day out for nearly 4 months..
  • #18,939
  • Oct 17, 2008 8:16am Oct 17, 2008 8:16am
Quoting zeus_ares86
thx for d reply bro..to me..trading is like a business,it's like playing poker..a good poker player is well equipped with money management,risk management and probabalities.it also involves psychology, on what the other players are thinking n what other players thot u r thinking..same goes for forex n other market..we have to find out what others r thinking..put it simple,there is a reason behind what u guys were discussing juz now..i use the same method..however,i use it to scalp for bigger gains using shorter TF.

playing poker is nt a good thing,however,it has taught me a lot of lessons..applicable to many things in life..gud thing is, the same goes for market trading..thank u 4 ur reply..neways,do u think i am ready..been learning day in n day out for nearly 4 months..
What else can I say? Welcome aboard and good luck.
Go figure.. Simplicity work
  • #18,940
  • Oct 17, 2008 8:29am Oct 17, 2008 8:29am
Quoting tokwanden
What else can I say? Welcome aboard and good luck.
thx bro
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