Nice thread and thanks for your videos. I have a request, is it possible to post a video while placing a order with analysis and then a follow up video so that we can see the take profit/Loss analysis? It looks so easy to see a chart with indicators after some time. It always confuses to take the trade when indicators are still shaping up. I have no intention here to question your strategy. In fact, I am asking for this favor as I see your willingness to help others.
Very nice indicator mate, well done on sharing. I have successfully traded the London open yesterday on the 5M with this, and a little of the lead-in into the NY open.
Great videos Andrew they're are really in understanding how you analyze the markets . I'm really struggling on determining the right stop loss distance, I've tried an aggressive stop loss of 20 pips, but that is clearly vulnerable to whipsaws specially on the 4 hr charts. Could you post a video on how you determine your stop loss (I know you use the super trend line for your exits as well) for all the various entries and what do you think of a fixed stop loss of around 30 35 pips, have you found that to be too small.
Great videos Andrew they're are really in understanding how you analyze the markets . I'm really struggling on determining the right stop loss distance, I've tried an aggressive stop loss of 20 pips, but that is clearly vulnerable to whipsaws specially on the 4 hr charts. Could you post a video on how you determine your stop loss (I know you use the super trend line for your exits as well) for all the various entries and what do you think of a fixed stop loss of around 30 35 pips, have you found that to be too small.
Cheers
Ignored
30 to 40 pips on a time frame like the 4H is much too small. After the 30m TF your going to want to see SL's going upwards 50 up to 200 pips depending ont he TF. For me ont he 4H it is not uncommon to see 100+ stop losses unless you want to get stopped out very quickly.
Andrew:
... is it possible to post a video while placing a order with analysis and then a follow up video so that we can see the take profit/Loss analysis?...
...It always confuses to take the trade when indicators are still shaping up....
Thaks,
-FX_California
Ignored
Hi, FX_California! Thank you for the approvement of the system.
Well, you should not be confused at that time, while trading I mean.
If doubts are cast upon it you should trade on demo account until you examine properly how the system works in practical trading: where to enter the market by placing the pending orders, how to settle and move (if necessary) the stop-loss orders, how to determine the most profitable points to exit depending on the strength and length of the price movement). Also it is highly recommended to choose a good strategy of a money management and follow it strictly (what amount of assets you should invest after positive trades and also negative ones). I am also trying to diversify the assests between different currency pairs and timeframes (mainly 4 hour and 1 hour).
These issues are important for a success in trading.
Concerning online video broadcast of trading, I think it can be possible in the near future. Now I post videos like previous ones here in the therad mainly to make my system more understandable in practical trading. Besides, it takes much more time to trade and to keep on commenting a market at the same time. But anyway, I think from time to time it would be possible.
Andrew
Very nice indicator mate, well done on sharing. I have successfully traded the London open yesterday on the 5M with this, and a little of the lead-in into the NY open.
Thanks,
Chngster
Great videos Andrew they're are really in understanding how you analyze the markets . I'm really struggling on determining the right stop loss distance, I've tried an aggressive stop loss of 20 pips, but that is clearly vulnerable to whipsaws specially on the 4 hr charts. Could you post a video on how you determine your stop loss (I know you use the super trend line for your exits as well) for all the various entries and what do you think of a fixed stop loss of around 30 35 pips, have you found that to be too small.
Cheers
Ignored
Yes, to settle the stop-loss order correctly is quite an important issue. Sometimes there is a need to move it closer to the price on the Supertrend line or on the nearest price swing if the price goes in a far break away from the Supertrend line (when there is a big probability of a retracement). One should do it to avoid exessive loss. Nevertheless fixed stop-loss orders can be used especially on those pairs and timeframes you know the best. Of course, I agree with DETrader's words in that issue that a 30-35 points stop-loss could be quite a small one for a 4-hours timeframe and could be hit by a simple market noise on a such timeframe. Personally I prefer to settle a stop-loss order according to the system rules depending on the price movement on a chart.
Dear friends, thanks for your supportive opinions and approvals! You are welcome!
Hi, FX_California! Thank you for the approvement of the system.
Well, you should not be confused at that time, while trading I mean.
If doubts are cast upon it you should trade on demo account until you examine properly how the system works in practical trading: where to enter the market by placing the pending orders, how to settle and move (if necessary) the stop-loss orders, how to determine the most profitable points to exit depending on the strength and...
Ignored
mr. Andrews Can you please give me a template and indicators here in mq4 downloadable instead of Zip files I cant open your system.
thanks.
bomi
You should not open those files. You should download them and copy the indicators to the folder with indicators and the template to the folder with templates in the general folder where the metatrader is installed. And then you can use those indicators and the template in your metatrader trading platform.
