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Day trades 5,10,20 ema

  • #21
  • Apr 4, 2009 1:53am Apr 4, 2009 1:53am
Quoting Rastaman
If anyone wants the Inside Bar indicator just to make it easier to spot them, here it is.
check this how trading inside bar

http://www.forexfactory.com/showpost...postcount=7478
  • #22
  • Apr 4, 2009 5:40am Apr 4, 2009 5:40am
here is how I would do it.
( but its not a great ill. because the break out bar is just to great!!!)

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Stop Loss 2... is a hard stop in case the world goes to hell.
Stop loss 1... is my main stop BUT only if price closes under it.

So lets look at the candles at the end of the day.

Candle 1... I close out the trade at the end of day.
Candle 2... I stay in the trade ( Likely just a news spike)
Candle 3... Would have closed me out in the day sometime already.


Cheers

TEB
  • #23
  • Apr 4, 2009 5:52am Apr 4, 2009 5:52am
For this trade

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The only thing is SL 2 is very close to SL 1. You might want a little breathing more room.

cheers


Teb
  • #24
  • Apr 4, 2009 10:22am Apr 4, 2009 10:22am
I don't trade gold & silver... to nutty for me.

but I was asked what I see.
Here is how I would look to trade them.

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cheeres

TEB
  • #25
  • Apr 4, 2009 10:31am Apr 4, 2009 10:31am
TEB

Why 2SL on 1 trade?
Wouldn't the first SL take you out anyway?

Is this just for safety sake in case the first SL gets blown through without stopping you out?
Starting to see instead of just looking.
  • #26
  • Apr 4, 2009 11:04am Apr 4, 2009 11:04am
good middle and ending.. ..not sure about the beginning.
do folks have the stomache to wait a week for a trade and then potentially have to be small as pips? It could get expensive to go against the bigger trend and chop N areas.
I think it leaves a lot on the table in a 1 time frame trade. Its obviously pretty when you catch a long one.
-----I feel for rastaman. ...However, it takes about 3-4 years to get some fundamental truths about the market in your head. Thank g for ea's.
  • #27
  • Apr 4, 2009 11:11am Apr 4, 2009 11:11am
Quoting 4XWeezal
good middle and ending.. ..not sure about the beginning.
do folks have the stomache to wait a week for a trade and then potentially have to be small as pips? It could get expensive to go against the bigger trend and chop N areas.
I think it leaves a lot on the table in a 1 time frame trade. Its obviously pretty when you catch a long one.
-----I feel for rastaman. ...However, it takes about 3-4 years to get some fundamental truths about the market in your head. Thank g for ea's.

I guess it is just the road we all have to go down.

Thanks for the sympathy though, I am not really disillusioned with FX, just at myself.

I tried a few EA's simply out of curiosity, none of them will work all the time in ranging and trending climates.
Perhaps they are ok if you use them in specific situations but generally, I doubt they are of much use.
Starting to see instead of just looking.
  • #28
  • Apr 4, 2009 11:14am Apr 4, 2009 11:14am
heres my advice .You don't know where the market is going ..you don't know how far it will go. Therefore, concentrate on the trend and minimize the N zones losses --because your gonna lose those. There are not indicators alive that can figure those out.
  • #29
  • Apr 4, 2009 11:21am Apr 4, 2009 11:21am
Quoting 4XWeezal
heres my advice .You don't know where the market is going ..you don't know how far it will go....

check my post:

http://www.forexfactory.com/showpost...4&postcount=11

just put support and resistance, we know where price is going and how far it will go
  • #30
  • Edited 11:38am Apr 4, 2009 11:24am | Edited 11:38am
Also, your post does show support and resistance...does it show how far the extension is going to go on the down trend? is there going to be a spike back up and take out your pithy stop? Actually, trend wise,
I would potentially been long on that trade with the chf---probably never but still you never know..... maybe in a few more days not enough info right now. Since you posted it...tell us where its going to go?
  • #31
  • Apr 4, 2009 11:29am Apr 4, 2009 11:29am
Can anyone explain to me how does the inside bar works? what does it represent?

Please enlighten as I am new to this trader's world.

Thank you.
  • #32
  • Apr 4, 2009 11:30am Apr 4, 2009 11:30am
Quoting 4XWeezal
maybe for manual traders. I wouldnt be caught dead manual trading. Also, your post does show support and resistance...does it show how far the extension is going to go on the down trend? is there going to be a spike back up and take out your pithy stop?

I take it you are only trading with EA's and not manually?

Are you trading live with these EA's or demo trading?
Starting to see instead of just looking.
  • #33
  • Apr 4, 2009 11:50am Apr 4, 2009 11:50am
Quoting 4XWeezal
Also, your post does show support and resistance...does it show how far the extension is going to go on the down trend? is there going to be a spike back up and take out your pithy stop? Actually, trend wise,
I would potentially been long on that trade with the chf---probably never but still you never know..... maybe in a few more days not enough info right now. Since you posted it...tell us where its going to go?

personally I don't cares where it goes just as long as it takes me!!


teb
  • #34
  • Apr 4, 2009 11:53am Apr 4, 2009 11:53am
Quoting imanhadi
Can anyone explain to me how does the inside bar works? what does it represent?

Please enlighten as I am new to this trader's world.

Thank you.

an IB is just a 1.2.3 break in two bars

Attached File(s)
File Type: pdf 123TradingSignal.pdf   1.1 MB | 1,232 downloads


teb
  • #35
  • Edited 12:08pm Apr 4, 2009 11:58am | Edited 12:08pm
Quoting Rastaman
TEB

Why 2SL on 1 trade?
Wouldn't the first SL take you out anyway?

Is this just for safety sake in case the first SL gets blown through without stopping you out?

well these are big stops ( I normally place the SL under the 3 in the 1.2.3 )

1st SL is if price closes under it at 5pm
2nd SL is a fail safe: I would 99% of the time be out before it was ever hit

cheers

Teb
  • #36
  • Apr 4, 2009 11:59am Apr 4, 2009 11:59am
Quoting 4XWeezal
heres my advice .You don't know where the market is going ..you don't know how far it will go. Therefore, concentrate on the trend and minimize the N zones losses --because your gonna lose those. There are not indicators alive that can figure those out.

what is "N" zone mean?

teb
  • #37
  • Apr 4, 2009 12:01pm Apr 4, 2009 12:01pm
live with ea. Anything can be done with ea and much more precise than manual...If your bigger time frames or even smaller /30 mn plus ....You need to learn to program or you will be up at 2:00 am watching charts or sleeping at 3:00 pm when the market moved. You never know when the market is going to make a move. some trades go 200-600 pips and some go 60 and some chop you a few times. Teb has the right answer on letting you trades run. If you don't ....the market will crush you over time. The "n" pattern is a correction pattern--5-3-5
You know how you get a cross and then it goes back about 5 bars and takes out your stop then goes the other way. (welcome to trading.) Its all about odds. thats' why i have a hard time with fixed stop losses and 1 tf . minimize those difference and let the larger trends run.
  • #38
  • Apr 4, 2009 12:02pm Apr 4, 2009 12:02pm
Quoting 4XWeezal
good middle and ending.. ..not sure about the beginning.
do folks have the stomache to wait a week for a trade and then potentially have to be small as pips? It could get expensive to go against the bigger trend and chop N areas.
I think it leaves a lot on the table in a 1 time frame trade. Its obviously pretty when you catch a long one.
-----I feel for rastaman. ...However, it takes about 3-4 years to get some fundamental truths about the market in your head. Thank g for ea's.

you can use this on any time frame I use mostly day or 3(4) hour and one hour. Trend trading is easier on higher time frames . very hard on the 1 min
can be lots of fun but also lots of loss


teb
  • #39
  • Apr 4, 2009 12:32pm Apr 4, 2009 12:32pm
Quoting 4XWeezal
. .... Teb has the right answer on letting you trades run. If you don't ....the market will crush you over time. The "n" pattern is a correction pattern--5-3-5
You know how you get a cross and then it goes back about 5 bars and takes out your stop then goes the other way. (welcome to trading.) Its all about odds. thats' why i have a hard time with fixed stop losses and 1 tf . minimize those difference and let the larger trends run.

Oh Elliott Wave?!

EW & PP & Murrays math and Fibbs and all tools
I think are all losser ... they are traps.


Price actions is the only think that works
so Candles & patterns & R/S that is it
Trend lines work most times - but they work better in other markets!!
R/S is the King in 4X


I use tools (here EMA) just for trend not to buy/sell
But that is just me

cheers

teb
  • #40
  • Apr 4, 2009 12:37pm Apr 4, 2009 12:37pm
I love ema's. !. Cats meow for entry!. :
CCI //momentum..for confirmation or for suckers on turns.
S/R and FIBs. good for resistant points not much to show a turn or any type of trading information.
Fire the bullets until the trend is your friend and ride the horse to the finish line!.
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