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AUD/USD

  • #19,021
  • Mar 15, 2010 4:28pm Mar 15, 2010 4:28pm
Hey man I sure appreciate you taking the time to share. I must admit though that I've had some pretty lame experiences with indicators, maybe I wasnt looking correctly. Take a look and report back!


Quoting Saxon
My home terminal set up:

Window 1:



H1 Screen

  1. Candles
  2. Momentum (14) with a Stoch Osc Overlay

M30 Screen

  1. Same thing as above

M15 Screen

  1. Same thing as above

Window 1 Trade Rules:[list][*]This is a simple multi-timeframe swing[*][color=#211600]Use...

Annoying Precision
  • #19,022
  • Mar 15, 2010 4:53pm Mar 15, 2010 4:53pm
Quoting erikte279
Hey man I sure appreciate you taking the time to share. I must admit though that I've had some pretty lame experiences with indicators, maybe I wasnt looking correctly. Take a look and report back!
No problem. What would you like me to take a look at? Also, if you want a good book to read about indicators and trading, I have a PDF copy of it. If you give me your e-mail I can forward it to you. It's like 7 megs though so be sure your inbox can take it. I think it is the best trading book ever written. BOLD STATEMENT, I know.
  • #19,023
  • Mar 15, 2010 5:07pm Mar 15, 2010 5:07pm
Mister Saxon you are a Master. Can I have a copy of that PDF?
Thank you.

[email protected]
  • #19,024
  • Mar 15, 2010 5:10pm Mar 15, 2010 5:10pm
Quoting erikte279
H,

Do you have an opinion about this us/china situation regarding their currency being pegged to the dollar.......
hey erik..... it's common, or was, for a country to devalue it's currency in an effort to improve it's economy at the expense of others..... it's a wise ploy......

the chinese finally said, "homey don't play dat"..... another wise ploy.... by tying their currency to ours, it's negates the usd devaluation.....

the chinese may talk funny but they think smart..... odds are they will not rush to do anything that will hurt their current holdings..... they have been around long enough to know cycles...... things always improve and likely the usd will look much better next year.....

and speakin of lookin good, ain't it dang good thing that first chinese girl was born good lookin...... cause they all look alike.....h





//------------

sniper screaming sell on the daily..... you pullin the trigger?....h
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to trade and code, keep both simple... no call to impress....h
  • #19,025
  • Mar 15, 2010 5:12pm Mar 15, 2010 5:12pm
Quoting erikte279
Hey man I sure appreciate you taking the time to share. I must admit though that I've had some pretty lame experiences with indicators, maybe I wasnt looking correctly. Take a look and report back!
I remember back when I got going, I saw all the indicators and was like a deer in the headlights. You just need to take a step back and put it all in perspective. First things first, a lot of indicators basically tell you the same thing. So you can chop like half of them out of your toolbox. Another thing, some indicators work in a ranging environment while others work in a trending environment. So find out which one you trade best in and cut all the other indicators out (I am a trend trader). And don't let the word trend scare you into thinking that you have to be a long-term trader to trade trend; you dont. After you do this for a while, you'll come to realize that the words your high school math teacher told you were true "Keep It Simple Stupid". So with that said, here are the basic indicators I use 90% of the time.

CCI - Commodity Channel
ADX - Average Directional
Standard Deviation
Stochastic Oscillator
Momentum
Volumes
Williams Percent
Rate of Change

The funny thing is all of those are usually the first few chapters of any trading book. They are simple and that is why they work

The other 10% of the time I use more "exotic" stuff.

Heiken Ashi Lines
Ichimoku
TSR
Fractals
MML - Murrey Math

These don't work nearly as good as the previous list. Also, a lot of these indicators complement each other help support trading decisions.
I operate in a 1HR and 30M timeframe for most of my trading. I only book a few trades a day. When there is a news announcement, I generally try to be out of the market unless I think I know somthing, which i usually don't. I use Fib Fan, Fib Chan and Fib Retrace but feel that Fib Expansion is a waste; just my personal opinion. I use Moving Averages too. If you look at my toolbox, it is really simple but that is why it works. If you want me to walk you through how to use some of those indicators, I'll be more than happy to. Oh ya, last thing. A lot of people will use these indicators and trade before the candle in their time frame has finished forming. That is why a lot of people lose money. Be patient an wait for the candle to complete forming and the next candle to start. That way you know that the signal is valid. A lot of people trade before the candle completes and the market moves away, causing the line to not be crossed or what have you. So you need to be patient with indicators too. Tell me if I'm preaching to the quior, I just don't know exactly what you don't know. Hope this helps!
  • #19,026
  • Mar 15, 2010 5:13pm Mar 15, 2010 5:13pm
Quoting aurelian
Mister Saxon you are a Master. Can I have a copy of that PDF?
Thank you.

[email protected]
I just sent it to you. Hope you like it.
  • #19,027
  • Mar 15, 2010 5:20pm Mar 15, 2010 5:20pm
Hayseed the Original ,

Sounds plausible, lets hope it all works for the good. I think I'll wait for the bears to come out of there den a little more....

,

Erik



Quoting hayseed
hey erik..... it's common, or was, for a country to devalue it's currency in an effort to improve it's economy at the expense of others..... it's a wise ploy......

the chinese finally said, "homey don't play dat"..... another wise ploy.... by tying their currency to ours, it's negates the usd devaluation.....

the chinese may talk funny but they think smart..... odds are they will not rush to do anything that will hurt their current holdings..... they have been around long enough to know cycles...... things always improve and likely the usd...
Annoying Precision
  • #19,028
  • Mar 15, 2010 5:36pm Mar 15, 2010 5:36pm
Quoting erikte279
Hayseed the Original ,

Sounds plausible, lets hope it all works for the good. I think I'll wait for the bears to come out of there den a little more....

,

Erik
Awww

Attached Image
  • #19,029
  • Mar 15, 2010 5:39pm Mar 15, 2010 5:39pm
I'm going to look at that trading book and do an objective backtest of those aforementioned indicators and see what I can come up with. If you say they work for you and you've been kind enough to share this then I'm going to put the work in and see what I can come up with, then present legitimate questions, if any .

I've worked with stochastic/macd ect.. semi intensiveley earlier in my trading career (1.5 years now) and found the results to be unprofitable and lagging in nature, maybe I wasnt Looking correctly. I sure appreicate the advice and will return the favor except with greenbacks if I can develop some kind of profitable daytrading system through this.

As of late my swing trading s/r has been really putting me on track but a daytrading system would be nice

Respectfully and thankfully,

Erik

Quoting Saxon
I remember back when I got going, I saw all the indicators and was like a deer in the headlights. You just need to take a step back and put it all in perspective. First things first, a lot of indicators basically tell you the same thing. So you can chop like half of them out of your toolbox. Another thing, some indicators work in a ranging environment while others work in a trending environment. So find out which one you trade best in and cut all the other indicators out (I am a trend trader). And don't let the word trend scare you into thinking...
Annoying Precision
  • #19,030
  • Mar 15, 2010 5:40pm Mar 15, 2010 5:40pm
At its meeting today, the Board decided to raise the cash rate by 25 basis points to 4.0 per cent, effective 3 March 2010.

Is this mean that Bullish for AU$? AUD USD Buy Trend?
  • #19,031
  • Mar 15, 2010 5:51pm Mar 15, 2010 5:51pm
Lol.....cant wait until I finally make it to Alaska....gonna make a trip to kodiak island ....accompanied with my .308

Edit: flying my bush plane :-)

Quoting Clouds
Awww

Attachment
Annoying Precision
  • #19,032
  • Mar 15, 2010 6:01pm Mar 15, 2010 6:01pm
Quoting erikte279
Lol.....cant wait until I finally make it to Alaska....gonna make a trip to kodiak island ....accompanied with my .308

Edit: flying my bush plane :-)
i've lived in alaska, the summers are great , but the winters are dark all the time...... check out this cat at the end.

Inserted Video
  • #19,033
  • Mar 15, 2010 6:14pm Mar 15, 2010 6:14pm
Hi, guys.
I think there should be no problem for dollar bulls in the recent time. And potentially I see the leg down on aussie towards .902 first. I'm short at other dollar crosses, but don't want to overleverage myself with another short. So here is a DXY daily for consideration. Nice bull flag...
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  • #19,034
  • Mar 15, 2010 6:16pm Mar 15, 2010 6:16pm
Take a good look at your charts boys......d1 close....some opportunities
Annoying Precision
  • #19,035
  • Mar 15, 2010 6:16pm Mar 15, 2010 6:16pm
Quoting pipsbull
Hi, guys.
I think there should be no problem for dollar bulls in the recent time. And potentially I see the leg down on aussie towards .902 first. I'm short at other dollar crosses, but don't want to overleverage myself with another short. So here is a DXY daily for consideration. Nice bull flag...
The firm break through the vertical lines should bring a lot of movement...
the upper is 200 weekly ema;
the bottom one is 50 daily ema + 38.2 retr from January
  • #19,036
  • Mar 15, 2010 6:30pm Mar 15, 2010 6:30pm
Might wanna check out gbp/nzd......
Annoying Precision
  • #19,037
  • Mar 15, 2010 6:32pm Mar 15, 2010 6:32pm
Quoting Clouds
i've lived in alaska, the summers are great , but the winters are dark all the time...... check out this cat at the end.

http://www.youtube.com/watch?v=EdJqzVQEgIQ
how? wow that was rare. I would be careful if I were who's ever cat that was, that eagle might try to eat him.
Before Forex I was tall, and clean shaven. Now I am an Ewok.
  • #19,038
  • Mar 15, 2010 6:38pm Mar 15, 2010 6:38pm
Quoting england33
how? wow that was rare. I would be careful if I were who's ever cat that was, that eagle might try to eat him.
Check out the channel, they have tons of eagles in their backyard, I think they live off the coast of Alaska. If they were hungry they might try and catch something furry, but easier for them to eat fish. They are one big bird though.
  • #19,039
  • Mar 15, 2010 6:45pm Mar 15, 2010 6:45pm
looks like it's trapped between 20/40 EMA on 4HR, (9143-9120)
  • #19,040
  • Mar 15, 2010 7:13pm Mar 15, 2010 7:13pm
and this is why I prefer to wait.....

I'm tired of getting slapped around.....:-)
Annoying Precision
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