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Silent Service Method

  • #7,561
  • Mar 11, 2010 2:00am Mar 11, 2010 2:00am
any thoughts on this? countertrend but close to highs... just learning guys
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  • #7,562
  • Mar 11, 2010 2:20am Mar 11, 2010 2:20am
hey seba. Was just wondering why you use pro real time EOD data for forex? I find it decent for stocks but forex has free data so may as well utilize it from any mt4 demo source.
You should just get an mt4 demo account with someone so you have the live data coming through.

You can then be on top of things as about 8 hours of trading has occurred since that pin bar you are looking at.

Just an idea hope you dont mind
  • #7,563
  • Mar 11, 2010 2:30am Mar 11, 2010 2:30am
and how about this? seems to be making lower highs and lower lows maybe?

sorry if I'm overdoing it guys, will stop for today after this
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  • #7,564
  • Mar 11, 2010 2:35am Mar 11, 2010 2:35am
Quoting supermatt
hey seba. Was just wondering why you use pro real time EOD data for forex? I find it decent for stocks but forex has free data so may as well utilize it from any mt4 demo source.
You should just get an mt4 demo account with someone so you have the live data coming through.

You can then be on top of things as about 8 hours of trading has occurred since that pin bar you are looking at.

Just an idea hope you dont mind
thanks for the tip man, unfortunately there's no mt4 for mac and my virtual pcs are too slow, haven't been able to sort this out yet. In any case I'm just practicing and learning atm. Will get an account with Oanda soon and have better updated charts, but since other posters have been using prorealtime for months in this thread I thought it'd be ok...
  • #7,565
  • Mar 11, 2010 2:39am Mar 11, 2010 2:39am
thought it looked like a mac, saw those bubbles on the top left lol.
i see your issue, damn macs lol

yeh hard to find a good java based platform, I have tried as i was keen on linux at one stage. fxcm have a mac platform u should head on over there and give it a go. I am not sure if you can demo it though but maybe worth looking into. Oanda has crap charts but hey atleast it is realtime data
  • #7,566
  • Mar 11, 2010 2:43am Mar 11, 2010 2:43am
seba
to me it look like weekly didn't give us the permission to sell yet and it s still going up . it might test 0.93 /0.935 .
look 2 days ago on your chart we had a shooting star that failed , and in plus it s a counter trend trade , i wont short it now .
and i might be wrong as always !!
cheers
samer

Quoting sebafx
any thoughts on this? countertrend but close to highs... just learning guys
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  • #7,567
  • Mar 11, 2010 4:08am Mar 11, 2010 4:08am
Quoting supermatt
thought it looked like a mac, saw those bubbles on the top left lol.
i see your issue, damn macs lol

yeh hard to find a good java based platform, I have tried as i was keen on linux at one stage. fxcm have a mac platform u should head on over there and give it a go. I am not sure if you can demo it though but maybe worth looking into. Oanda has crap charts but hey atleast it is realtime data
I just enquired in FXCM and you're right, that could work, but I might still go for Oanda as they have lower stakes / smaller lots which would help stick to 1% risk.

A beginner with a mac is not such a good combo I must say. I ended up looking for less reliable intraday trades to reduce my risk, and naturally mainly lost.

Also, I'm working on ProScreener filters (pinbars w/ high volume in stocks, and so on) which are quite cool, another good reason to stick to prorealtime I find. Then I can always check the progress of the chart in Oanda or my spread betting platform. But you're right, by the time I get the daily bars the Asian session will have affected the pairs, it's an issue I'll have to look into.

Thanks for you help mate!
  • #7,568
  • Mar 11, 2010 4:10am Mar 11, 2010 4:10am
Quoting samer960
seba
to me it look like weekly didn't give us the permission to sell yet and it s still going up . it might test 0.93 /0.935 .
look 2 days ago on your chart we had a shooting star that failed , and in plus it s a counter trend trade , i wont short it now .
and i might be wrong as always !!
cheers
samer
thanks Samer!!
  • #7,569
  • Mar 11, 2010 4:48am Mar 11, 2010 4:48am
Quoting sebafx
I just enquired in FXCM and you're right, that could work, but I might still go for Oanda as they have lower stakes / smaller lots which would help stick to 1% risk.

A beginner with a mac is not such a good combo I must say. I ended up looking for less reliable intraday trades to reduce my risk, and naturally mainly lost.

Also, I'm working on ProScreener filters (pinbars w/ high volume in stocks, and so on) which are quite cool, another good reason to stick to prorealtime I find. Then I can always check the progress of the chart in Oanda or my...
Hi Sebafx, as a self confessed beginner to this trading mullarky, my advice would be to stick to the daily charts and above for the time being - so PRT will be fine for you.

Chris
  • #7,570
  • Mar 11, 2010 7:01am Mar 11, 2010 7:01am
i promise this is definitely the last one today, sorry!
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  • #7,571
  • Mar 11, 2010 8:33am Mar 11, 2010 8:33am
Quoting sebafx
i promise this is definitely the last one today, sorry!

Post all the charts you want. That's what this thread is about imho.
You may want to send lionsden a private message about running mt4 on mac. He has a mac and knows a workaround somehow. He is in my buddylist if you want to look him up. I think he is out of town but he will help when he checks in.


Mike
  • #7,572
  • Mar 11, 2010 2:15pm Mar 11, 2010 2:15pm
With the way the markets are behaving it's quite clear something big would happen soon. When you take a glance at most of the pairs (even crosses) you can feel what the market is saying (Risk Aversion). Traders are waiting because there's not been much meaningful movements to say otherwise. Basically it's too quiet so the best thing would be to wait for CLEAR breaks (with confirming PA, of course).


CHARTS::


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Looking at this pair it's obvious the bears have been in control with price below 90.00 resistance level (which coincidentally confluences with the 50-61 fib level) keeping their bias unchanged. A breach above 90 level would have to see price hitting the 100 key level. And if there's a breach above 100, I'm a bull.

But for now I'm neither a bear nor a bull, I'm just a calm buffalo waiting for the red flag.
  • #7,573
  • Mar 11, 2010 7:09pm Mar 11, 2010 7:09pm
Quoting wh1zz0
With the way the markets are behaving it's quite clear something big would happen soon. When you take a glance at most of the pairs (even crosses) you can feel what the market is saying (Risk Aversion). Traders are waiting because there's not been much meaningful movements to say otherwise. Basically it's too quiet so the best thing would be to wait for CLEAR breaks (with confirming PA, of course).


CHARTS::


Attachment

Attachment

Looking at this pair it's obvious the bears have been in control with price below 90.00...

I agree with this post big time.....I am neutral, but with a negative bias on this pair until 90 is broken above.....
  • #7,574
  • Mar 11, 2010 7:11pm Mar 11, 2010 7:11pm
Quoting sebafx
i promise this is definitely the last one today, sorry!

Very interesting pin there.....and don't apologize, calderone is correct - the charts is mainly what this thread is about. Post away, no matter the market.
  • #7,575
  • Mar 11, 2010 7:12pm Mar 11, 2010 7:12pm
Quoting samer960
seba
to me it look like weekly didn't give us the permission to sell yet and it s still going up . it might test 0.93 /0.935 .
look 2 days ago on your chart we had a shooting star that failed , and in plus it s a counter trend trade , i wont short it now .
and i might be wrong as always !!
cheers
samer

While I am looking to short the AUD.....due to some observations about it struggling up here - I will wait just like Samer here for an actual move. I have found that almost every time I put a position on in anticipation - I get pummeled.
  • #7,576
  • Mar 11, 2010 7:14pm Mar 11, 2010 7:14pm
Quoting sebafx
and how about this? seems to be making lower highs and lower lows maybe?

sorry if I'm overdoing it guys, will stop for today after this

I have been short this NZD/USD pair for ages, with a core position, I think it will fall sooner or later.
  • #7,577
  • Mar 11, 2010 8:15pm Mar 11, 2010 8:15pm
Quoting clockwork71
I have found that almost every time I put a position on in anticipation - I get pummeled.

I think you just described my trading style....LOL.

I'm working on it...
  • #7,578
  • Mar 11, 2010 8:20pm Mar 11, 2010 8:20pm
Quoting clockwork71
I have been short this NZD/USD pair for ages, with a core position, I think it will fall sooner or later.
Hopefully sooner than later, I've been "building" a position for the last 3 months.
  • #7,579
  • Mar 11, 2010 11:11pm Mar 11, 2010 11:11pm
Quoting sebafx
any thoughts on this? countertrend but close to highs... just learning guys


Sebafx,

Very astute young trader...props to you.

Be patient as the markets will be here long after we're gone.

Study your charts and print them out and plaster them on your wall. Time is a wonderful teacher.

And try not to pick tops and bottoms...leave that responsibility to the gunslingers on the other threads.

Keep your idea's coming.

golferfx
  • #7,580
  • Mar 11, 2010 11:22pm Mar 11, 2010 11:22pm
agreed , the meat inside the trend is more than enough !

Quoting golferfx
Sebafx,



And try not to pick tops and bottoms...leave that responsibility to the gunslingers on the other threads.



golferfx
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