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  • #181
  • Apr 24, 2009 9:28am Apr 24, 2009 9:28am
hey hoss and others fellow traders.
I just join this thread and read it from first page
it is very simple method, i will try it at demo and see if i understand this system.
I hope you don't mind if i ask couple of questions
I am just 1 month learning forex so I appreciate that you all share your experience.

regards
thelearner
  • #182
  • Apr 24, 2009 2:44pm Apr 24, 2009 2:44pm
Quoting thelearner
hey hoss and others fellow traders.
I just join this thread and read it from first page
it is very simple method, i will try it at demo and see if i understand this system.
I hope you don't mind if i ask couple of questions
I am just 1 month learning forex so I appreciate that you all share your experience.

regards
thelearner
no problem.
Life is too short to have anything but delusional notions about yourself.
  • #183
  • Apr 27, 2009 1:39am Apr 27, 2009 1:39am
hi hoss, like i said i will post here if i have any question.
today i see this at my chart but i need your analysis. (it is a past chart)
look at the chart EURJPY M5 Alpari broker GMT +2
http://img402.imageshack.us/img402/8504/hossmethod1.jpg

there is 2 thing that confirm to open sell at that position (the most right chart)
1. it hit the 2/8 murrey line (red line)
2. it close to weekly pivot line (aqua line)
3. it has RSI 70 (not 80 though).

but it is not a retrace trade (it is not back to MA 200) and also it is still close to MA 200 (ignore the value at the left because it is the value of the price after 5 hours ). It is also at 3:40 am alpari time,1:40 after asian market is open..so it is probably a breakout, is that correct?

So your method is for retrace market only? or it can be use for that condition too? (Murrey and pivot line => strong resistance point.)
Sorry it is at M5 not M1, i just find that chart pretty interesting where it bounced back exactly when it hit the murrey and pivot line)

p.s i still have hard time deciding when the market is breakout, consolidating and retracing. Is there any indicator that i can use to help me "see" it?

your opinion means a lot for learning newbie like me.
Thanks
  • #184
  • Apr 27, 2009 9:34am Apr 27, 2009 9:34am
Quoting thelearner
hi hoss, like i said i will post here if i have any question.
today i see this at my chart but i need your analysis. (it is a past chart)
look at the chart EURJPY M5 Alpari broker GMT +2
http://img402.imageshack.us/img402/8504/hossmethod1.jpg

there is 2 thing that confirm to open sell at that position (the most right chart)
1. it hit the 2/8 murrey line (red line)
2. it close to weekly pivot line (aqua line)
3. it has RSI 70 (not 80 though).

but it is not a retrace trade (it is not back to MA 200) and also it is still close...
Yes, it is good that you are looking to avoid breakouts. You can get into trouble when you hit one when you are trying to trade counter trend. to help out, check the 1 minute chart. Is it making higher highs and lower lows? Is the price a good distance from the 200 (at least 30 to 40 pips)? Check higer time frames (15 min and 1 hr). Did the price on the higher time frame already move away from the 200, and has it been trending on those time frames also? If so, you want to start looking for exhaustion on the 1 minute. You may also want to check and see if price has broken out of the previous day's high or low. If RSI is not breaking 80 or 20, make sure there is divergence. Let me know if you have other questions.
Life is too short to have anything but delusional notions about yourself.
  • #185
  • Apr 27, 2009 9:36am Apr 27, 2009 9:36am
Divergence on the CAD/JPY.
Attached Image (click to enlarge)
Click to Enlarge Name: cj.jpg Size: 55 KB
Life is too short to have anything but delusional notions about yourself.
  • #186
  • Apr 27, 2009 11:58am Apr 27, 2009 11:58am
Quoting hoss
Yes, it is good that you are looking to avoid breakouts. You can get into trouble when you hit one when you are trying to trade counter trend. to help out, check the 1 minute chart. Is it making higher highs and lower lows? Is the price a good distance from the 200 (at least 30 to 40 pips)? Check higer time frames (15 min and 1 hr). Did the price on the higher time frame already move away from the 200, and has it been trending on those time frames also? If so, you want to start looking for exhaustion on the 1 minute. You may also want to check and...
thanks for your advice...i have hard time deciding if this wave or this OB/OS is retracing or still trending. I will practice and post here if i make any trade.

So we entry when market still on trending after a breakout? (2-3 waves push)
because it is the first time I know counter trend trades. usually people will tell me to never trade against the big trend.

I will look for a trending market (at M15 and H1) and then see if 1 minute chart already has 2-3 pushes from MA200 (RSI hit OB/OS several times and keep going back closer to MA200).
Last question, new high and low that you mean is high and low from what length of time? is it from daily high/low? i still do not get the "BIG" vision of the chart yet

thanks a lot hoss! i appreciate your answer and opinion.
  • #187
  • Apr 28, 2009 1:03am Apr 28, 2009 1:03am
Anyone know of an indicator that sends an alert when RSI has touched 20 or 80?
  • #188
  • Apr 28, 2009 2:53am Apr 28, 2009 2:53am
hi again, hoss. I hope you do not get tired to correct me
another chart:
http://img394.imageshack.us/img394/882/hoss2.jpg

do you think that last push is the good timing to entry?
because it already hit RSI 80 several times and keep bouncing back to MA 200. I assume it is the new low, is that correct? I still do not get the new high/low..is it new high/low at 1M or 15M and so on?
thanks
  • #189
  • Apr 28, 2009 3:25am Apr 28, 2009 3:25am
Quoting thelearner
hi again, hoss. I hope you do not get tired to correct me
another chart:
http://img394.imageshack.us/img394/882/hoss2.jpg

do you think that last push is the good timing to entry?
because it already hit RSI 80 several times and keep bouncing back to MA 200. I assume it is the new low, is that correct? I still do not get the new high/low..is it new high/low at 1M or 15M and so on?
thanks
Yes, this is actually a good spot for entry. You are making new lower lows on the 1 min, you are close to the edge of the bands, you are hitting up on some support, and it looks like you are showing some divergence on your RSI indicator.
Life is too short to have anything but delusional notions about yourself.
  • #190
  • Edited 8:13am Apr 28, 2009 7:31am | Edited 8:13am
Quoting hoss
Yes, this is actually a good spot for entry. You are making new lower lows on the 1 min, you are close to the edge of the bands, you are hitting up on some support, and it looks like you are showing some divergence on your RSI indicator.
ok thanks
i will keep practicing to find this condition.

p.s we need to see TF H1 and TF 15 first and make sure it is the same direction from MA 200,right?
Today i see many charts but then close the chart right away because at TF H1 it is below MA 200 but at TFM1 it is above MA200. I hope i don't catch the meaning of your words in the wrong way.


another chart:
(i doubt this entry because it do not hit any resistance line.. if this happen to you, what make you certain that the price will bounce back? do you rely on RSI alone?)
http://img513.imageshack.us/img513/7571/hoss3.jpg
regards
thelearner

*thanks for the teaching*
  • #191
  • Apr 29, 2009 11:00am Apr 29, 2009 11:00am
hoss thanks for the system..I ve been trading ur system for weeks now..very promising system..
R u planing to create a EA for this system?
or is there any indicator that alerts when rsi reaches 20 or 80??
  • #192
  • Apr 29, 2009 1:20pm Apr 29, 2009 1:20pm
the one i use that provided by fellow member here (THV RSI) give alert.
But i have to turn it off because msg keep popping and it kinda annoying

try it and see if it is the one you look for.

P.s hoss where are you? i hope you don;t get bored sharing and tutor us newbie here
  • #193
  • Edited 6:33am Apr 30, 2009 4:08am | Edited 6:33am
Quoting thelearner
the one i use that provided by fellow member here (THV RSI) give alert.
But i have to turn it off because msg keep popping and it kinda annoying

try it and see if it is the one you look for.

P.s hoss where are you? i hope you don;t get bored sharing and tutor us newbie here

thanks..I just tested the THV RSI..but its really annoying..I only want to alert when the rsi reaches,20 and 80..any more good rsi indicators???
  • #194
  • Apr 30, 2009 7:27am Apr 30, 2009 7:27am
here's a setup this morning.
Attached Image (click to enlarge)
Click to Enlarge Name: 090430-setup.png Size: 48 KB
  • #195
  • May 4, 2009 7:37am May 4, 2009 7:37am
i took this one this morning..
Attached Image (click to enlarge)
Click to Enlarge Name: 090504-setup.png Size: 40 KB
  • #196
  • May 4, 2009 9:47am May 4, 2009 9:47am
Quoting shaun_ru_th
hoss thanks for the system..I ve been trading ur system for weeks now..very promising system..
R u planing to create a EA for this system?
or is there any indicator that alerts when rsi reaches 20 or 80??
Cool. No, I don't like EA's. There's no substitution for your brain.
Life is too short to have anything but delusional notions about yourself.
  • #197
  • May 4, 2009 9:48am May 4, 2009 9:48am
Quoting thelearner
the one i use that provided by fellow member here (THV RSI) give alert.
But i have to turn it off because msg keep popping and it kinda annoying

try it and see if it is the one you look for.

P.s hoss where are you? i hope you don;t get bored sharing and tutor us newbie here
I'm still here! Sometimes I just forget to check in when I am done trading for the day.
Life is too short to have anything but delusional notions about yourself.
  • #198
  • May 4, 2009 9:48am May 4, 2009 9:48am
Quoting colinpip
i took this one this morning..

Very nice!
Life is too short to have anything but delusional notions about yourself.
  • #199
  • May 5, 2009 12:06pm May 5, 2009 12:06pm
few weeks ago I found this RSI indicator..
I think this indicator is better than annoying THV RSI..try it..
Attached File(s)
File Type: mq4 Color_RSI_v1.01_maxsig.mq4   11 KB | 729 downloads
  • #200
  • May 7, 2009 6:46am May 7, 2009 6:46am
Took this at 7:29 this morning..
Attached Image (click to enlarge)
Click to Enlarge Name: 090507-setup.png Size: 48 KB
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