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trading801's Koala Forex Articles and EUR/USD views

  • #10,761
  • Apr 22, 2010 7:27am Apr 22, 2010 7:27am
Quoting francis2
Yes ODL

Francis.

ODL ???


A51
  • #10,762
  • Apr 22, 2010 7:31am Apr 22, 2010 7:31am
Quoting Area51
Francis.

Check out the pinbar for a short entry on the GBPUSD 4 hour. An easy 90 pips and a 3 pip spread.

I need a few more monitors. 2 X 24 inchers are just not enough.

A51
Nice what do you do on that one A ther was a M15 pin to go short on which would have gotten you in just in time for a 40 pip retrace
or do you wait for price to pullback as in trust the pin and enter when it went back to 5450
My problem is that I see the pin but I then regard the retrace as failure rather than an opp to get a better price
  • #10,763
  • Apr 22, 2010 7:32am Apr 22, 2010 7:32am
Quoting francis2
Yes ODL
as in alpari / interbank etc yes meta4
  • #10,764
  • Apr 22, 2010 7:40am Apr 22, 2010 7:40am
Masoud.

Your method probably is not working due to the savage trend. So don't use it in a trend. Find something that suits you in such conditions and use that or stay out until you get favourable conditions.

You cannot fit a square peg in a round hole. (Unless the peg is smaller than the hole).

A51[/quote]
A is right Masoud hes obviously a lot older and wiser than us boys
I used to use indicators and I tended to be blinded from seeing the charts I still miss stupidly obvious things even now but price and the mas will do me
saying that candles arent always right look at eu 4 hours ago on M15 all those wicks would indicate that price was going to change direction but it didnt
  • #10,765
  • Apr 22, 2010 7:42am Apr 22, 2010 7:42am
Yes, some times in trend show false signal


Masoud.

Your method probably is not working due to the savage trend. So don't use it in a trend. Find something that suits you in such conditions and use that or stay out until you get favourable conditions.

You cannot fit a square peg in a round hole. (Unless the peg is smaller than the hole).

A51[/quote]
We are here to help each other... We Learn Forex Together!
  • #10,766
  • Apr 22, 2010 7:44am Apr 22, 2010 7:44am
Quoting francis2
Nice what do you do on that one A ther was a M15 pin to go short on which would have gotten you in just in time for a 40 pip retrace
or do you wait for price to pullback as in trust the pin and enter when it went back to 5450
My problem is that I see the pin but I then regard the retrace as failure rather than an opp to get a better price

Francis.

Not sure I fully understand but Ill have a go.

Many ways to paly them.

Firstly I would not enter on the 15 min time frame. 1H is the lowest I would consider on a serious trade.

Generally I will wait for a retrace to approx 1/3 to 1/2 the PB before entering. This will get you your better price so to speak. Also gives you time to access the bar and price action. That works for me on the higher time frames as the retrace can be significant pips. On the lower TF it may not be worth it pip wise.

Remember you can never consistently nail the best price. Just as exiting is discretionary so is the entry.

The other problem you have is that if the bar breaks strait away you miss the entry alltogether.

On the higher time frame I don't generally go lower than the hourly in any case. Tonight I am simply practicing some variations.


A51

Hope this helps.
  • #10,767
  • Apr 22, 2010 7:47am Apr 22, 2010 7:47am
A 51 still on gu talking pins 21/4 there was a four hour pin that reached res area technically so if id gone short on retrace after it it would have failed
  • #10,768
  • Apr 22, 2010 7:49am Apr 22, 2010 7:49am
Quoting Area51
Francis.

Not sure I fully understand but Ill have a go.

Many ways to paly them.

Firstly I would not enter on the 15 min time frame. 1H is the lowest I would consider on a serious trade.

Generally I will wait for a retrace to approx 1/3 to 1/2 the PB before entering. This will get you your better price so to speak. Also gives you time to access the bar and price action. That works for me on the higher time frames as the retrace can be significant pips. On the lower TF it may not be worth it pip wise.

Remember you can never consistently...
thanks makes sense
my problem is that I tend to regard the retrace as continuation of previous direction rather than an opportunity to get a better price for the impending change
  • #10,769
  • Apr 22, 2010 7:51am Apr 22, 2010 7:51am
I like this


Masoud.


You cannot fit a square peg in a round hole. (Unless the peg is smaller than the hole).

A51[/quote]
We are here to help each other... We Learn Forex Together!
  • #10,770
  • Apr 22, 2010 7:51am Apr 22, 2010 7:51am
back from crazy work
  • #10,771
  • Apr 22, 2010 7:53am Apr 22, 2010 7:53am
Good, you say right, lower time frame are very noise and very risky but High time frame for a scalper is like yearly TF for you

Quoting Area51
Francis.

Not sure I fully understand but Ill have a go.

Many ways to paly them.

Firstly I would not enter on the 15 min time frame. 1H is the lowest I would consider on a serious trade.

Generally I will wait for a retrace to approx 1/3 to 1/2 the PB before entering. This will get you your better price so to speak. Also gives you time to access the bar and price action. That works for me on the higher time frames as the retrace can be significant pips. On the lower TF it may not be worth it pip wise.

Remember you can never consistently...
We are here to help each other... We Learn Forex Together!
  • #10,772
  • Apr 22, 2010 7:54am Apr 22, 2010 7:54am
welcome back koala king

Quoting trading801
back from crazy work
We are here to help each other... We Learn Forex Together!
  • #10,773
  • Apr 22, 2010 7:56am Apr 22, 2010 7:56am
Quoting masoud123
welcome back koala king
hihi i guess gbp/jpy is popular.. the thread on the fb page is full of replies...


forex4pty's gbp/usd thread only have me and him lol
  • #10,774
  • Apr 22, 2010 7:58am Apr 22, 2010 7:58am
Quoting trading801
back from crazy work
Hi T our cunning plan is to tire A51 out with questions then he,ll sleep better so youd better watch out
  • #10,775
  • Apr 22, 2010 7:59am Apr 22, 2010 7:59am
Quoting francis2
Hi T our cunning plan is to tire A51 out with questions then he,ll sleep better so youd better watch out
he having trouble zzz ing?
  • #10,776
  • Apr 22, 2010 8:03am Apr 22, 2010 8:03am
Quoting trading801
he having trouble zzz ing?
I have heard hes looking for one of those wheel barrows with twin wheels his old one is struggling with the pip load poor old chap cant push it very well
  • #10,777
  • Apr 22, 2010 8:04am Apr 22, 2010 8:04am
Quoting francis2
A 51 still on gu talking pins 21/4 there was a four hour pin that reached res area technically so if id gone short on retrace after it it would have failed

Hey Francis.

Absolutely correct my friend.

They do fail.
That one to me did not look too bad. But then again look at the next bar. That next bar was an inside PB on my feed. The bar after that was also an inside bar. The next bar broke to the high side. At that point you would have given it away but still watch like a hawk as something was up. The next bar was a PB and then it worked as it would be expected.
To be on the safer side I believe it is best to wait for the bar to break before entering but I also like the challenge of tweaking the entry. There are always trade- offs with each approach.

The thing is we are paid to wait. (Famous Quote). All setups will fail. It is the number of times they don't fail that makes them worth playing.
Just to repeat. I trade Daily time frame price action with the 4H and 1H used to tweak the entry if I'm confident I can do so. (My live account is used for this exclusively).
I am here playing the 4H - 1H and the occasional scalp with my Demo account. It's good practice.
Hope this helps
A51
  • #10,778
  • Apr 22, 2010 8:08am Apr 22, 2010 8:08am
Quoting Area51
Hey Francis.

Absolutely correct my friend.

They do fail.
That one to me did not look too bad. But then again look at the next bar. That next bar was an inside PB on my feed. The bar after that was also an inside bar. The next bar broke to the high side. At that point you would have given it away but still watch like a hawk as something was up. The next bar was a PB and then it worked as it would be expected.
[font=Calibri][size=3]To be...
THanks A
Quote that comes to my mind from previous grateful bosses
"Youre paid to work not to think"
youre obviously higher up the social scale
  • #10,779
  • Apr 22, 2010 8:09am Apr 22, 2010 8:09am
Quoting francis2
I have heard hes looking for one of those wheel barrows with twin wheels his old one is struggling with the pip load poor old chap cant push it very well

Take the micky out of the old guy. Geeeeeeeeeeeeeez.

Anyway I dont want a wheelbarrow. I'm thinking of one of the US SUV's or maybe a HumV.

That should do it.

And by the way. Who let the boss back in.

A51
  • #10,780
  • Apr 22, 2010 8:11am Apr 22, 2010 8:11am
Very good, Thank you my friend. Useful

Quoting Area51
Hey Francis.

Absolutely correct my friend.

They do fail.
That one to me did not look too bad. But then again look at the next bar. That next bar was an inside PB on my feed. The bar after that was also an inside bar. The next bar broke to the high side. At that point you would have given it away but still watch like a hawk as something was up. The next bar was a PB and then it worked as it would be expected.
[font=Calibri][size=3]To be...
We are here to help each other... We Learn Forex Together!
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