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Attachments: Andrews Pitchfork (Median Line)
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Andrews Pitchfork (Median Line)

ok i take half of the position from the table. we have seen two flags and the down move but now strong support and the candles are not promising.
if we close below support i will reenter again with target again ml.

good luck
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ok again half of the position out. now we have a confluence zone and support on the h4 chart from the hagopian line.
but no sign or pattern for a change. let's see how this develop.
i use no fixed stop for the rest but the upper mlh will be the trailing stop guide.

good luck
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Quoting Alexandra.L
ok again half of the position out. now we have a confluence zone and support on the h4 chart from the hagopian line. but no sign or pattern for a change. let's see how this develop.
i use no fixed stop for the rest but the upper mlh will be the trailing stop guide.
good luck
Listen to the whispers.... You may learn something
USDCHF new High
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Thanks everybody for the input. Luckily I reversed before I went to bed right after I got stoppd out and now is still going. I hope you guys catch some of this and made some MONEY. If it was real I woul've had a BEER

Alexandra: I drew innerlines using AML indicator found at the beginning of this thread, the rest is manual
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Quoting forkTrader
AL and RL stands for Action line and Reaction line. I suggest you read the Original Andrews couse on medianline.com
Tim rarely gives out material on action reaction lines, other than the andrews course for free. So, you got to read the andrews course, no matter how much clutter it has on charts.
Also AL and RL dont need to be equally spaced from the CL (centre line) or ML.
Good morning. folks. I am stuck on a net book while my internet connections are being rewired in my new trading room. I wanted to pop in and mention several things:

1. After hosting the first Advanced Seminar on the 24th, I am lifting my own personal policy of talking about and sharing the rules Dr. Andrews taught to the Coral Gables Group in the 1960's and early 1970's. I am lucky to be able to be thought of as one of the members, though I was a small fry on the wall at the time, riding my big brother's coat tails in Southern Florida. Thouhg there won't be a post today, expect to see regular posts featuring A/R lines, their rules and also Diamonds, my own technical Analysis use of Lines of Opposing Force--I find them quite powerful and have used them in my own hand charting for years.

2. Those of you that have known me for years know that I am often out spoken, but if I have something to say about something or someone or some that is or will be contoversial, I say it in a public forum. I believe strongly in debate and I also believe that if you call some one out, you should expect to be able to defend your position. I am always willing to be proven wrong, but if I make a statement, I'll stand behind unless I am proven wrong--then I humbly admit I was wrong. I implore people not to put words in anyone's mouth--we all talk enough as it is.

3. I want to do a free beginner's seminar that literally starts with someone opening an account. Can people post here where THEY would open an account if they were starting today and what software THEY would use [trading with median lines and A/r lines, etc]? It's been some time since I opened a new account, as you would guess, and I want to make sure I kknow from people, not brokers, what's out there. Besides opening accounts, covering costs, risk size...other than drawing techniques, what would YOU cover if you were doing a presentation for someone that hasn't even made a seimulated trade yet and wants to know how to start and how to increase their odds of succeeding? This WILL eventually feed into the elementary and middle school classes I lecture to FREE in 57 schools [there will be more next year] in an attempt to 'give something back'. I am proud to say the three schools I lectured on a regular basis all finished in the top ten [out of 179 U.S. elementary schools] trading stocks only, long, and averaged 12.3 percent gross over 3 months [not annualized]. If you want to know where a market is going, find a ten year old!

If you have time, please help by responding with your ideas about where you would start.

Thank you all. I'd post a chart, but this $150 net book is...can't say that word here...

I wish you all good trading.

Tim Morge
betting retracing up
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......Excellent!
Quoting TimMorge
Good morning. folks. I am stuck on a net book while my internet connections are being rewired in my new trading room. I wanted to pop in and mention several things:

I am lifting my own personal policy of talking about and sharing the rules Dr. Andrews taught to the Coral Gables Group in the 1960's and early 1970's...Thouhg there won't be a post today, expect to see regular posts featuring A/R lines, their rules and also Diamonds, my own technical Analysis use of Lines of Opposing Force--I find them quite powerful and...
Listen to the whispers.... You may learn something
Quoting TimMorge
3. I want to do a free beginner's seminar that literally starts with someone opening an account. Can people post here where THEY would open an account if they were starting today and what software THEY would use [trading with median lines and A/r lines, etc]?
The charting software? I prefer MT4. Its built in AL is not quite intuitive. But its user friendliness still at my top list. A friend here (Caveman) coded an AL indicator for better usability btw. Thanks Cave!

The brokers? That's another story. I will choose ECN. MBT or Oanda will be ok. Another consideration is Interactive Broker.

37 post since 2009? Hope to see it grows more sir. Please stop and post chart more
Manage your risk accordingly and you're half done your home work.
SW: mt4

brokers: MB trading, FXDD,
recent au action
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recent N/U price action
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recent g/u and u/cad
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Quoting anthoniex
Didn't work out so well...
this is an issue of style, BUT... if mkt moves X in your favor, there is nothing wrong with considering taking some profit or tightening the stop. you can also consider recent behavior such as rangy vs. trending when making such a decision. for me,,,(which is personal style) if the mkt moves 50-100 pips in my favor, i will accept my gift and be sure the trade ends positive no matter what.

for example, in this chart, i took half off when price reached the median line ~ 7230
key reason i took half off: i suspected it might bounce to the upper MLH. was i right?? NO.
DO i CARE?? NOOO. lol
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Quoting personalme
The charting software? I prefer MT4. Its built in AL is not quite intuitive. But its user friendliness still at my top list. A friend here (Caveman) coded an AL indicator for better usability btw. Thanks Cave!

The brokers? That's another story. I will choose ECN. MBT or Oanda will be ok. Another consideration is Interactive Broker.

37 post since 2009? Hope to see it grows more sir. Please stop and post chart more
Thanks for the reply. I trade through ECNs, but I am looking for suggestions for traders just starting out with $10K or less.

AL indicator--do you mean a Median Line indicator or something to help you draw A/R lines and are these available for people--meaning, can I point newbies to them somwhere here? I am fairly MT4 friendly...

37 posts...well, I do trade a lot. But I'll try to pop by more now that I am happily moved into my new home in Arizona [which has greatly improved my health].

I post when I can or until dram starts, then I go back to extra charting and writing...

Thank you for the kind reply.

Tim
MB is ECN and u can open accts under 10k. i think min is really low...somethin like 500.00
Good to see you here Tim, and its better to hear that you are going to share more of the action reaction line stuff.

Broker
-----------
I am myself a starter with a little over 1 year experience in forex trading. I use Alpari UK. Dont have any particular reason to trade with Alpari, except the friend who introduced me to forex has an account with Alpari.
If I will have to tell somebody which broker to use, I will use the following criterias

1) Low spreads and low volatility of spreads during news events. For some brokers spreads can rise dramatically during news events and if you have a tight stop, you may be out of a winning trade.

2) People who are starting trading will want to test thier knowledge of trading with low risk, so I will recommend that the broker should offer micro lots.

3) It should be regulated.

4) Brokers who offer MT4 as trading platform are preferable. Google forex brokers with MT4 platform.

5) Compare the broker's data feed with other brokers to see there are major inconsistencies in prices in terms of high and low for the time period.

6) Also, I will recommed to avoid brokers who closes 1 hour early on Friday and open 2 hours late on Sunday. This will have an impact on charts and you have a fork or AR line set that is angled differnertly than what it should be. Also I have seen problems with the Zoom and Retest signal

Note:
------
Because of above mentioned issue, I use FXPRO MT4 for charting and uses Alpari for trading.

Charting Software
------------------
MT4 works okay with pitchforks and AR line, but you have to do quite a bit of work with it.
As someone pointed out above, the pitchfork indicator programmed by caveman solved the issues of drawing modified schiff, schiff, quartiles, and warning lines.

The only complaint I have for MT4 is the lack of playback feature.

Covering costs
----------------
MT4 and the data feed comes free, so you dont have to worry about costs.

Risk Size
----------------
I will never ever leverage myself more than 10 times of my equity even for the best trade setups ( I mean setups with tight stoploss). For normal trading, 5 times of equity is good.

Other Thing
--------------------
1) If I will have to get somebody started trading forex, I will recommend him/her trading the less volatile pairs like EURUSD and USDCHF.
2) Trade London session and first half of NY. Start your day with 1 hour before London opens, make you charts ready.
3) Meditate daily to push stress out of your body. If he/she is not working out in gym, starting it with trading is a good time.
5) Check economic calendar, and dont try to trade on bank holidays.
4) Remember, you are trading against people like Tim. So always double check.


Quoting TimMorge
3. I want to do a free beginner's seminar that literally starts with someone opening an account. Can people post here where THEY would open an account if they were starting today and what software THEY would use [trading with median lines and A/r lines, etc]? It's been some time since I opened a new account, as you would guess, and I want to make sure I kknow from people, not brokers, what's out there. Besides opening accounts, covering costs, risk size...other than drawing techniques, what would YOU cover if you were doing a presentation for someone...
Let someone arise from my bones as an avenger. Jesse Livermore
Quoting TimMorge
Good morning. folks. I am stuck on a net book while my internet connections are being rewired in my new trading room. I wanted to pop in and mention several things:

1. After hosting the first Advanced Seminar on the 24th, I am lifting my own personal policy of talking about and sharing the rules Dr. Andrews taught to the Coral Gables Group in the 1960's and early 1970's. I am lucky to be able to be thought of as one of the members, though I was a small fry on the wall at the time, riding my big brother's coat tails in Southern Florida. Thouhg...
Wow! Its a pleasure to know you here, sir!

Well, for the trading platform I would prefer the MT4, although I'm also using
FibonacciTrader.

I will be in your coming seminars..

Again, Thanks a million Tim!
Quoting TimMorge
3. I want to do a free beginner's seminar that literally starts with someone opening an account. Can people post here where THEY would open an account if they were starting today and what software THEY would use [trading with median lines and A/r lines, etc]? It's been some time since I opened a new account, as you would guess, and I want to make sure I kknow from people, not brokers, what's out there. Besides opening accounts, covering costs, risk size...other than drawing techniques, what would YOU cover if you were doing a presentation for someone...
This is exciting!!! Thanks Tim, I'm still reading your book I got two weeks ago and and I'd like to learn more. I have a small account with Tadawul FX (it's smaller than when I first opened it), other brokers that I consider are Alpari UK or FXPro. I like MetaTrader because it's FREE and pretty easy to learn. It comes in many different languages too. I'm so glad that we can learn from you here at Forex Factory.
Hi Scrutch,

Somehow I got turned around with the labeling. That was throwing me for some reason. Thanks for refreshing me on that. I counted his waves correctly, but the label for Wave 1 seemed strange. I haven't used labels for some time. Maybe I should start again
Thanks for bringing me back to clarity.

FX4Newbies

Quoting Scrutch
Not sure I understand the question.
Wave 5 is the beginning of wave 1 but the count is placed at the end of the wave. Where wave 5 ends that's where you place your count label, this is also the beginning of wave 1 but you won't place your count label until wave 1 ends. If wave 5 label is on a high then wave 1 label will be on a future low OR if wave 5 label is on a low then wave 1 label will be on a future high.
This answer your question...if not ask again.

Edit: There are instances of a much larger wave count where you could have a wave 5 label...
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