DislikedHi,
is there anybody can help the how do i insert the 2nd and 3rd ribbions.
Thanks,
RadIgnored
If you do it, you will have all ribbons already set up on your chart.
- #2,185
- Apr 18, 2009 10:58am Apr 18, 2009 10:58am
here attached !
version mq4
just have added possibility of level choosen , zéro, 67 , 100 etc...
kino
- #2,197
- Apr 20, 2009 9:33am Apr 20, 2009 9:33am
The first one i wasn't afraid of TF30
The second trade still in.
It's nice to see your charts and entries. The second entry was a nice gateway entry!
Just a curious question on the first entry though. Is it a risk to Short there since there might be a slight chance of it to bounce of the TF? If me, I'll wait for a candle close inside the TF and then short from there. Am I entering too late this way?
(: btw, do you think most people would avoid this system as the first look they have is that it is very complicated? A friend of mine saw my chart and he goes
compared to his simple 'SRDC' method.
- #2,199
- Edited 2:27pm Apr 20, 2009 2:03pm | Edited 2:27pm
Hey Jazz,
Just a curious question on the first entry though. Is it a risk to Short there since there might be a slight chance of it to bounce of the TF? If me, I'll wait for a candle close inside the TF and then short from there. Am I entering too late this way?
(: btw, do you think most people would avoid this system as the first look they have is that it is very complicated? A friend of mine saw my chart and he goes
Yes I was aware of the TF30 Ribbon, which could give support. But everything was strong pointing down whith power while TF30 was widening (so not too much Support).
Funny you asked this, because at my entry I thought about your own remark today, saying " .....being too careful sometimes? (: )"
I know there are people scanning all threads about trading systems searching for the holy grail which have to make them rich without investing in time and knowledge. I have never been such a trader (and student). And I know some very good traders have looked to the Ribbon system and didn't take the time to find the big benefits of it.....no prob at all.
I found that the ribbons always give you a very good view on what is happening right now. I have had in the past trading systems on my chart from which I thought "yes this is great" but after a while I always thought: okay, my indicators are giving me a signal right now, but I don't have a good feel where we are and if it is okay to trust the signal...... so I didn't take the trade...and didn't take the next one. But with the ribbons in combination with some good indicators I got a good feel about what is happening, where are the risks and where are the better opportunities.
The ribbons sometimes don't let me trade a nice move, saying me it isn't a high prob trade. Yes, sometimes I feel sad about that. But looking at my trade results I am very proud that I have so less bad trades!! I am sure it is the result of knowing when the risk of sideways markets is there, .....and of getting whipsawed. So I actually don't mind to miss some good trades.
At the other hand, it also happens I enter a trade very early after a reversal, because the ribbons tell me it is okay.
When your friend thinks it is complicated, He is most likely looking to a part of the chart where the ribbons are not matching. When he thinks "what is this??" ....well, don't trade at that point, I think it is not a good trading setup! Good opportunities with Ribbos are looking clear! So when it is not clear, it is not good to trade.
In this thread there is enough material gathered to learn the ribbons in a few days. The pdf will help for sure and in post#1 everything is available to setup the chart. Also you know there are people who will give support.
Cheers, Jazz
If you like to see my 2nd trade exit:
Trading S/R with PA only. No indicators anymore!