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  • #43,641
  • Nov 5, 2008 8:26pm Nov 5, 2008 8:26pm
Quoting psiholog
i think its too early to call whether the bear trend is over and the bull trend begins. daily candles to me at this point are irrelevant. the only thing that matters is price action has stuck in this triangle on the 4h chart for the whole week. the midline of this triangle is 1.2850 and as you can see price action is sticking above that point. until a decisive break of this big triangle is seen...calling bear or bull continuation is purely guessing. thats just my 2 cents...with a long term bear bias.

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hey man, hows your trades on eu been this week? i really thought this eu breakout was valid and i lost 60 pips do you combine other charts with the 5min?
  • #43,642
  • Nov 5, 2008 8:35pm Nov 5, 2008 8:35pm
Quoting big_pipin
hey man, hows your trades on eu been this week? i really thought this eu breakout was valid and i lost 60 pips do you combine other charts with the 5min?
my trading has been...ok i guess. i mainly scalped as the majority of my trades have been based on gut feeling based on price action. this meant all my trades were half the size i wanted to trade for a total of 600pips gain...or 300pips at what i would have wanted to trade. far below my expectations but cant complain either...its been one of the toughest weeks ever to analyze pa but it has been scalper heaven.

btw...i follow 1min ...5min...15min...1h...4h depending on what im looking for. to keep a trade open for a longer period...i use the 15min/1h mostly. to get a good look of the longer term pa...i analyze 4h chart(do not trade it)....to scalp...i look at 1min/5min/15min for good entries/exits
Different opinions highly valued, ignorant to slander.
  • #43,643
  • Nov 5, 2008 8:49pm Nov 5, 2008 8:49pm
Quoting psiholog
my trading has been...ok i guess. i mainly scalped as the majority of my trades have been based on gut feeling based on price action. this meant all my trades were half the size i wanted to trade for a total of 600pips gain...or 300pips at what i would have wanted to trade. far below my expectations but cant complain either...its been one of the toughest weeks ever to analyze pa but it has been scalper heaven.

btw...i follow 1min ...5min...15min...1h...4h depending on what im looking for. to keep a trade open for a longer period...i use the 15min/1h mostly. to get a good look of the longer term pa...i analyze 4h chart(do not trade it)....to scalp...i look at 1min/5min/15min for good entries/exits...
is there a reason why you dont use 2min or 3min to filter some of the chop? I know some platforms dont offer those charts, but i was just wondering. What other pairs have a low spread (3 or less) other than eu?
  • #43,644
  • Nov 5, 2008 8:56pm Nov 5, 2008 8:56pm
Quoting big_pipin
is there a reason why you dont use 2min or 3min to filter some of the chop? I know some platforms dont offer those charts, but i was just wondering. What other pairs have a low spread (3 or less) other than eu?
i dont know if ibfx can be seen on 2min/3min charts...maybe with some mt4 indicator...as for me...i do what i got used to and have no intent to change it...i like the chop as it shows me that area is important before a significant advance continues

as far as other pairs having low spread...the only other pair i really follow is usd/jpy with 3pip spread purely to compare pa to eur/usd as they heavily correlate....i dont know other pair spreads...open a chart with each pair and you will find out
Different opinions highly valued, ignorant to slander.
  • #43,645
  • Nov 5, 2008 9:02pm Nov 5, 2008 9:02pm
strategy "Wild cat" Daily chart. chart 1
Attached Image (click to enlarge)
Click to Enlarge Name: 113eur1.GIF Size: 63 KB
  • #43,646
  • Nov 5, 2008 9:03pm Nov 5, 2008 9:03pm
strategy "Wild cat" Daily chart. chart 2
Attached Image (click to enlarge)
Click to Enlarge Name: 113eur2.GIF Size: 54 KB
  • #43,647
  • Nov 5, 2008 9:06pm Nov 5, 2008 9:06pm
Quoting big_pipin
What other pairs have a low spread (3 or less) other than eu?
uj = 3 pips. the anti-currency, it's evil and should be destroyed.

ej = 4 pips -scary fast movement at times, be very careful

gu = 4 pips usual. it's the pound, makes no sense to me either mind of it's own like UJ sometimes.

Ucad = 5 pips. they call their dollar the loonie. I rest my case.

If you're makin pips on the EU, I'd say stay with it. Otherwise you're gonna pay to play...

If you have mt4 platform, open your market watch window under the VIEW button on toolbar and you can see it all.
FUBAR...
  • #43,648
  • Nov 5, 2008 9:12pm Nov 5, 2008 9:12pm
Quoting psiholog
my trading has been...ok i guess. i mainly scalped as the majority of my trades have been based on gut feeling based on price action. this meant all my trades were half the size i wanted to trade for a total of 600pips gain...or 300pips at what i would have wanted to trade. far below my expectations but cant complain either...its been one of the toughest weeks ever to analyze pa but it has been scalper heaven.
Is that a daily, weekly or monthly target?
  • #43,649
  • Nov 5, 2008 9:13pm Nov 5, 2008 9:13pm
Quoting psiholog
i dont know if ibfx can be seen on 2min/3min charts...maybe with some mt4 indicator...as for me...i do what i got used to and have no intent to change it...i like the chop as it shows me that area is important before a significant advance continues

as far as other pairs having low spread...the only other pair i really follow is usd/jpy with 3pip spread purely to compare pa to eur/usd as they heavily correlate....i dont know other pair spreads...open a chart with each pair and you will find out
Psi, I read somewhere that you could use some MT4 scripts to make a custom timeframe, such as 3 minute, etc. Am attaching some files that I found (Period Converter?), but don't know what to do with them. You can also find them in your Program Files/Interbank FX Trader 4/Experts/Scripts folder. Sorry I don't have more info, but I think I read the info on this site. Will try to find the post tomorrow.

Hope it helps.
Attached File(s)
File Type: ex4 period_converter.ex4   6 KB | 281 downloads
File Type: mq4 period_converter.mq4   6 KB | 308 downloads
Up or down, gimme a ticket
  • #43,650
  • Nov 5, 2008 9:17pm Nov 5, 2008 9:17pm
Quoting FXraider
Is that a daily, weekly or monthly target?
my daily target is 150pips at normal size. in other words im 2 days behind for this week


specialed while i appreciate your help...you dont have to look for them...when i scalp analyzing 1min chart pa is extremely useful to me and i dont want to give that up for 2min or 3min


one other sidenote...if the pa is really choppy like now on 1min chart...i sometimes look at a line chart...note that 1.2865 was support..once broken it became resistance...then support again...now lets see if it is resistance....candlesticks dont show this
Different opinions highly valued, ignorant to slander.
  • #43,651
  • Edited 9:43pm Nov 5, 2008 9:24pm | Edited 9:43pm
hi traders

euro+cable continued today the usual down move for both
influenced by the long term of GBP+euro against dollar.

i forecast hours ago the continuation of down trend of both and as usual too a minor retrace to the up happened first due to the news and then price continue his down trend.

& i want you my fellow traders to take care of fundamental as you take care of technicals :

and to be clear to you
all the buyers and the sellers are here in those threads and you know the forex basic rule
only 20% win and the other 80% loss
so try to figure it out by your mind

if you find most posts talk about retrace that will may happen you will find the price is going down, and if you find most posts talk about the continuation of down trend you will find price is going up .
they call this trick (news).

so trade well guys and have fun.
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  • #43,652
  • Nov 5, 2008 9:26pm Nov 5, 2008 9:26pm
Quoting psiholog
my daily target is 150pips at normal size. in other words im 2 days behind for this week


specialed while i appreciate your help...you dont have to look for them...when i scalp analyzing 1min chart pa is extremely useful to me and i dont want to give that up for 2min or 3min


one other sidenote...if the pa is really choppy like now on 1min chart...i sometimes look at a line chart...note that 1.2865 was support..once broken it became resistance...then support again...now lets see if it is resistance....candlesticks dont show this
Yep, I do that sometimes. Although, when I trade below M30 nowadays, I'm mostly scalping off M5; using a combination of ichimoku and support/resistance indicator.
Up or down, gimme a ticket
  • #43,653
  • Nov 5, 2008 9:28pm Nov 5, 2008 9:28pm
Jaywalker's taking my place. Good trading all.

Ed
Up or down, gimme a ticket
  • #43,654
  • Nov 5, 2008 9:31pm Nov 5, 2008 9:31pm
Quoting SpecialEd
Yep, I do that sometimes. Although, when I trade below M30 nowadays, I'm mostly scalping off M5; using a combination of ichimoku and support/resistance indicator.
for me the only method is pa. because i watch price action so much and have good knowledge about candlesticks patterns (ask me to name them and i wont be able to)....i take mental notes of supports/resistances and entry just based on candle patterns if they are where my mental notes indicate.

right now for example...that 1.2865 is crucial...my "gut" feeling is saying it will pick up some upwards momentum therefore im long with stop loss just below the current low...to be seen


well i saw...HAH...ah well cant win them all

good night ed
Different opinions highly valued, ignorant to slander.
  • #43,655
  • Nov 5, 2008 9:33pm Nov 5, 2008 9:33pm
How about that 1 min bar.
  • #43,656
  • Nov 5, 2008 9:40pm Nov 5, 2008 9:40pm
Quoting SunTrader
How about that 1 min bar.
You ain't just a woofin... EU 23 pips, EJ 27 pips in a few seconds, and the geppy only eeked out 18 pips in the same 1m bar. someone must be "deleveraging" somewhere...

Bring it on.
FUBAR...
  • #43,657
  • Nov 5, 2008 9:42pm Nov 5, 2008 9:42pm
Quoting SunTrader
How about that 1 min bar.
i swear it happens every time i post my current position and reasons why....someone out there is watching me...they havent stopped me out though...HAH
Different opinions highly valued, ignorant to slander.
  • #43,658
  • Nov 5, 2008 9:46pm Nov 5, 2008 9:46pm
Quoting psiholog
i take mental notes ... where my mental notes
indicate.
don't forget to floss...
Attached Image
FUBAR...
  • #43,659
  • Nov 5, 2008 9:50pm Nov 5, 2008 9:50pm
Quoting ak4x
don't forget to floss...
your right...fatigue is setting in and affecting my judgement...maybe thats a sign
Different opinions highly valued, ignorant to slander.
  • #43,660
  • Nov 5, 2008 9:54pm Nov 5, 2008 9:54pm
Quoting SpecialEd
Jaywalker's taking my place. Good trading all.

Ed
You've got to tell me about the shift mate Anyways, nite nite.

I didn't make much on my trades today. I missed some entry points.

Hold on to your f@#cking hat™ is the name of the show! This is DJ Jay Walker Kim Soo Park Lee checking in and tonight's programing is some political/financial banter and fun-o-tainment! We take your special requests and we start with this Pink Floyd classic, "Money".
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