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  • #61
  • Sep 9, 2009 12:23am Sep 9, 2009 12:23am
Quoting ashukla1980
Hello forexlion,

I am new to forex. Can you tell me how I can know about the trading volume in any currency. I especially trade cable. Also, please which other pair can fit well with cable?

Ashish
CTRL+L
  • #62
  • Sep 9, 2009 1:10am Sep 9, 2009 1:10am
Quoting price
Thanks forexlion,That was a dam good answer !!
Thanks Forexlion for your answers esp on the multiple timeframes.
  • #63
  • Sep 9, 2009 1:35am Sep 9, 2009 1:35am
Quoting forexlion
no i do not use hotkeys, instead i use ea's to close trades like the ones you see on my chart the tight trailing stop.
Does it mean you enter the trades manually and the Tight Trailing Stop EA takes care of moving the stops as well as closing the trade?
  • #64
  • Sep 9, 2009 2:56am Sep 9, 2009 2:56am
Quoting IKent
Does it mean you enter the trades manually and the Tight Trailing Stop EA takes care of moving the stops as well as closing the trade?
i do everything manually
  • #65
  • Sep 9, 2009 8:55am Sep 9, 2009 8:55am
a typical account killer unless you are either on the fence or on 1 min

this is a daily chart, see the horizontal line made this week
Attached Image
  • #66
  • Sep 9, 2009 9:55am Sep 9, 2009 9:55am
Forexlion,

I see that you recommend on consulting 5M for trading on 1M. What exactly you try to see in 5M? Can you elaborate please?

Thanks
  • #67
  • Sep 9, 2009 11:03am Sep 9, 2009 11:03am
Quoting IKent
Forexlion,

I see that you recommend on consulting 5M for trading on 1M. What exactly you try to see in 5M? Can you elaborate please?

Thanks
I believe he recomended to look at 5 min chart for guidance about the direction of the market, trend direction before you open a trade in 1 min. so you don`t trade against the trend . Maybe He can explain better, I`m learning too.
good luck.
I`ve been wrong before,and I may be wrong again.
  • #68
  • Sep 9, 2009 11:28am Sep 9, 2009 11:28am
Quoting cttrader
I believe he recomended to look at 5 min chart for guidance about the direction of the market, trend direction before you open a trade in 1 min. so you don`t trade against the trend . Maybe He can explain better, I`m learning too.
good luck.
correct
  • #69
  • Sep 9, 2009 11:39am Sep 9, 2009 11:39am
Originally Posted by cttrader http://cdn.forexfactory.com/images/buttons/viewpost.gif (http://www.forexfactory.com/showthread.php?p=3038654#post3038654)
I believe he recomended to look at 5 min chart for guidance about the direction of the market, trend direction before you open a trade in 1 min. so you don`t trade against the trend . Maybe He can explain better, I`m learning too.
good luck.
correct

Thanks for answer/confirm the above. But when comparing the 5m, suppose 5m price is at support (end of the down move) and your 1m Price action is telling you to go long, how you deal with that. Similarly, if 5m chart telling you a above ressistance brkout upwards and if you are in 1m support, looking both charts confuse me and I try to stick to only 1m in those situations for open/close of the trade. Can you elaborate?

The reason for this question is since you do GREAT on 1m, I want to learn how u see the 1m. chart.

Thanks
  • #70
  • Sep 9, 2009 2:16pm Sep 9, 2009 2:16pm
Quoting forexlion
Mark trendlines @

 

  1. Last week high
  2. Last Week Close
  3. Last Month High
  4. Last Month Close
  5. Day Open

these are your traffic signals, on what is happening on the chart.

Lion,Thanks for starting this thread,& for sparing your tight schedule time to impact knowledge to us.
Pls,i will like you to write a detailed manual on the way to use the indicator as our road map,and i will like you to expantiate on the use of these Last week...high,close,last month high,close,& day open.
Thanks.
  • #71
  • Sep 9, 2009 7:00pm Sep 9, 2009 7:00pm
Quoting Wilmartfx
Lion,Thanks for starting this thread,& for sparing your tight schedule time to impact knowledge to us.
Pls,i will like you to write a detailed manual on the way to use the indicator as our road map,and i will like you to expantiate on the use of these Last week...high,close,last month high,close,& day open.
Thanks.
a very simple question will answer all of the above

how do you define trend in terms of candles ?
  • #72
  • Sep 9, 2009 7:54pm Sep 9, 2009 7:54pm
Quoting forexlion
a very simple question will answer all of the above

how do you define trend in terms of candles ?
let me try.
Dont bite me!
IF the candle is white/up candle, trend is UP.
IF the candle is black/down candle, trend is DOWN.

Also how does the weekly/daily candles affect your trading on 1M?
  • #73
  • Sep 9, 2009 7:59pm Sep 9, 2009 7:59pm
hi forex lion,

This is Sauabh from India.Nice to meet u.Thanks for opening up this thread. FL do u only trade based on price action or some other system is involved ??
Knock at the sky and feel the thunder
  • #74
  • Sep 9, 2009 8:10pm Sep 9, 2009 8:10pm
Quoting IKent
let me try.
Dont bite me!
IF the candle is white/up candle, trend is UP.
IF the candle is black/down candle, trend is DOWN.

Also how does the weekly/daily candles affect your trading on 1M?
not just the color of the candles

 

  1. if a candle opens or trades above the previous candle high
  2. if a candle opens or trades below the previous candle low

wouldn't that be a trend

plus

 

  1. if something is trading above previous week high, means it is interested in going further up
  2. or previous month high
  3. or orevious year high

shows its making new highs

that is how you read them, color of candle is just chart decoration.

color of candles can change rapidly, to form dojis even.

  • #75
  • Sep 9, 2009 8:14pm Sep 9, 2009 8:14pm
Quoting simply123
hi forex lion,

This is Sauabh from India.Nice to meet u.Thanks for opening up this thread. FL do u only trade based on price action or some other system is involved ??
if i am not able to figure out the trend from price action, i just toss a coin and decide.
  • #76
  • Sep 9, 2009 8:15pm Sep 9, 2009 8:15pm
Quoting forexlion
a typical account killer unless you are either on the fence or on 1 min

this is a daily chart, see the horizontal line made this week
this scenario is repeating even today, so i am completely off GJ for this week.

no use wasting time on something which does not move
  • #77
  • Sep 9, 2009 8:36pm Sep 9, 2009 8:36pm
Hi Forexlion,

Just a couple questions for you. Do you scale into your positions (add lots as trade goes in your favour)

Do you have a strict stop set or do you scale out at S/R levels?

Do you take partial profit at S/R levels and let the rest ride based on a trailing stop or reversal of your indicators?

Do you modify your position size based on the importance of the potential trade i.e. do you trade more lots at important S/R levels?

I'm am looking forward to your reply and you seem very inspirational, thanks for taking the time to make the thread and reply to fellow members.

All the best,

M
  • #78
  • Sep 9, 2009 8:49pm Sep 9, 2009 8:49pm
anyone can help me out with this.....
please share with me the MT4 demo account which never expires and supports Indian indices also?
Warm regards
Help will be appreciated
Sorry for the break in the flow of the thread
luv to loose.....
  • #79
  • Sep 9, 2009 9:28pm Sep 9, 2009 9:28pm
Quoting mjotic
Hi Forexlion,

Just a couple questions for you....
1 trade start to finish, then new plan and a new trade.
  • #80
  • Sep 9, 2009 9:32pm Sep 9, 2009 9:32pm
Quoting novicetrader
anyone can help me out with this.....
please share with me the MT4 demo account which never expires and supports Indian indices also?
Warm regards
Help will be appreciated
Sorry for the break in the flow of the thread
i think you can get trade station from rapidshare, google for torrents.

mt4 does not support indian indices as yet.

but if there is an enterprising indian and he can afford a good dedicated server, plus $100K for the mt4 server license, plus the e-signal feed, then this can be done in mt4.
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