Even though i am primarily a H4 live trader I have been trading demo on M15 lately.
The MTF works very well there. I coupled it with ALF although i found the EMA 8 to be very good as well.
Ignored
I just trade live account. That gives you the real feel for trade. Even if one is good in demo, you don really experience the up and down emotional roller coaster as in live trade.
Of course until I am comfortable, I just trade 0.01 contract
Fear gets me to move SL to BE (sometimes too fast). Greed gets me to keep it there so move has more room to grow.
I do use a step trail sometimes.
My idea is to go to BE at 1R. (Maybe take half off at 1R). Step SL by 1R every 1R.
So with 75 pip SL I move to BE at 75 and move to 75 at 150. That means up to 149 pips I am only at BE. 5 trades in a row at BE tells me to change this and I am looking to do so but have not come up with a viable strategy yet.
On M15 it seems so much easier. I use SL of 20, BE at 20, half off at 30 and trail 20.
I just trade live account. That gives you the real feel for trade. Even if one is good in demo, you don really experience the up and down emotional roller coaster as in live trade.
Of course until I am comfortable, I just trade 0.01 contract
Ignored
I agree with you. But since I am trading live H4 I get the emotional side there. I never trade demo exclusively for the very reason you cited.
M15 is a new timeframe (and faster) for me. I want to get used to that speed and entry conditions and then live on small numbers.
Demo is helpful in working out the mechanics. For example, on h4 i have lots of time to think and put in pending order. On M15 I missed some good trades because I was not fast enough. i discovered that I should use hotkey entries on M15. Just a mechanical aid but i would not want to learn that live.
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Joined May 2009
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Status: Veni, Vidi, Pipsi
|95 Posts
Hello all,
Just came across this tread. Instead of Bull/Bear power indicators and the consequently reading of the Datawindow, I use an indicator "Buyers-Sellers". If you look into the code , you'll see that it is based on bulls -bears. It' very visual, even indicating the strenght. I don't use it on its own, but as support to react on price action. Ideal for M5 scalping. I am not the creator, found it somewhere.
Enjoy,
Ludo
Hello all,
Just came across this tread. Instead of Bull/Bear power indicators and the consequently reading of the Datawindow, I use an indicator "Buyers-Sellers". If you look into the code , you'll see that it is based on bulls -bears. It' very visual, even indicating the strenght. I don't use it on its own, but as support to react on price action. Ideal for M5 scalping. I am not the creator, found it somewhere.
Enjoy,
Ludo
I am attaching the statement for the trades taken since opening of the market yesterday.
Although, at present the net result is negative, at a point of time the combined result was positive 10%. (about $27,500 i.e $,2500 positive on a $25,000 account) The TP is set at 80 pips which was not reached for some pairs which then turned negative.
As for not taking any trades on Strategy tester, as mentioned in my earlier post, it worked at my end. I am using FXDD Malta. Please try again, select the 5M timeframe on the tester period drop drown. The trades that will happen will still be based on the timeframe that you select in the parameters.
Hello all,
Just came across this tread. Instead of Bull/Bear power indicators and the consequently reading of the Datawindow, I use an indicator "Buyers-Sellers". If you look into the code , you'll see that it is based on bulls -bears. It' very visual, even indicating the strenght. I don't use it on its own, but as support to react on price action. Ideal for M5 scalping. I am not the creator, found it somewhere.
Enjoy,
Ludo
Ignored
Thanks for sharing this indicator, can you tell me please how to read the strenght indicator? Sometimes you can find buyers 200, sellers 94 and power -5, so how do you interpret power reading?
Regards
I found that the previous Version 4 of fokusnik's indicator would create arrows instantly and if at the Close the numbers had reversed then the arrow would remain.
i modded this to create version 5 which gives an option to create arrows only on Close.
So if AlertOnBarClose == true therefore arrows are only created after bar close and remain.
If it == false then the arrow is created instantly and remains until the next bar is formed (I believe but this was tough to test).
