james16 Chart Thread | Page 3591 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Where can I learn more about Price Action like those in James16 charts? 9 replies

Attachments: james16 Chart Thread
Exit Attachments

james16 Chart Thread

  • #71,801
  • Aug 16, 2010 8:44am Aug 16, 2010 8:44am
Quoting spookie94
I tried to close 1/2 as you suggested, but received a message "hedging not allowed".
Hey Spookie

I just checked again on my IBFX demo.

You went to the terminal and clicked CLOSE ORDER, then selected the volume box, and then clicked close.

You can not just use a market order cause then it is thinking you are trying to hedge(when it should just close it as half either way but for some reason these mt4 brokers are weird).
  • #71,802
  • Aug 16, 2010 8:57am Aug 16, 2010 8:57am
I want to update a potential trade one of our respected member mentioned yesterday. E-C weekly, the massive BEOB: there was a negligible pullback, price continued its downtrend broke the RNB=13350 and has reached FTA=13283 which is an 4H-PPZ. The downward momentum is still in place so my quess is that price will reach its all time low at 13073.

May the force be with you,
Pipcrawler
  • #71,803
  • Aug 16, 2010 9:01am Aug 16, 2010 9:01am
Quoting mbqb11
Hey Spookie

I just checked again on my IBFX demo.

You went to the terminal and clicked CLOSE ORDER, then selected the volume box, and then clicked close.

You can not just use a market order cause then it is thinking you are trying to hedge(when it should just close it as half either way but for some reason these mt4 brokers are weird).
so do you have to open another order to sell half (with SL and TP on new order) http://cdn.forexfactory.com/images/icons/icon5.gif
  • #71,804
  • Aug 16, 2010 9:06am Aug 16, 2010 9:06am
Quoting spookie94
so do you have to open another order to sell half (with SL and TP on new order) http://cdn.forexfactory.com/images/icons/icon5.gif

No you are selecting the volume(amount) you want to close and then clicking CLOSE ORDER

see below

if you want to do it with s/l and t/p you must open multiple positions(split up your positions) below is how to do it manually at anytime
Attached Image (click to enlarge)
Click to Enlarge Name: a.gif Size: 146 KB
  • #71,805
  • Aug 16, 2010 9:20am Aug 16, 2010 9:20am
Quoting mbqb11
No you are selecting the volume(amount) you want to close and then clicking CLOSE ORDER

see below

if you want to do it with s/l and t/p you must open multiple positions(split up your positions) below is how to do it manually at anytime

I was able to do it on a demo off a market order. If you close 1/2 of a pending order I take it the SL for the remaining is automatically adjusted (my SL isn't still set to sell off my whole original position)?
  • #71,806
  • Aug 16, 2010 9:22am Aug 16, 2010 9:22am
Quoting mbqb11
No you are selecting the volume(amount) you want to close and then clicking CLOSE ORDER

see below

if you want to do it with s/l and t/p you must open multiple positions(split up your positions) below is how to do it manually at anytime
Got confused because to close 1/2 on my other platform we would use an edit feature http://cdn.forexfactory.com/images/icons/icon10.gif
  • #71,807
  • Aug 16, 2010 9:27am Aug 16, 2010 9:27am
OK, another Question on placing an order using MT4. Do you always have to be at least 30 pips away from a pending order or is there a way to change that?
  • #71,808
  • Aug 16, 2010 9:29am Aug 16, 2010 9:29am
Quoting spookie94
OK, another Question on placing an order using MT4. Do you always have to be at least 30 pips away from a pending order or is there a way to change that?
will have to let someone else jump in here as I have never traded with an mt4 broker

Best
Mike
  • #71,809
  • Aug 16, 2010 9:50am Aug 16, 2010 9:50am
I think it means 3 pips, not 30. This is to do with the broker offering an extra decimal place in prices. Be careful when setting targets and stop losses!
Gone to a better place
  • #71,810
  • Aug 16, 2010 9:57am Aug 16, 2010 9:57am
Quoting Jonnyislost
Anyone tempted by this one?

In my opinion, probably safe for a quick hitter to that grey zone, but no BRN = No trade for me
Retraced to the bar lows on the left before moving on up to the FTA (1.62 Price Flip)

A nice opportunity for those who like to enter on retracements for reduced risk
Attached Image (click to enlarge)
Click to Enlarge Name: 9.jpg Size: 110 KB
  • #71,811
  • Aug 16, 2010 10:04am Aug 16, 2010 10:04am
Quoting smikester
I think it means 3 pips, not 30. This is to do with the broker offering an extra decimal place in prices. Be careful when setting targets and stop losses!
I'm not sure. When I try to place a pending order I get a message stating invalid SL or TP. Then I notice it says pending orders must be at least 30 from market price????
  • #71,812
  • Aug 16, 2010 10:58am Aug 16, 2010 10:58am
nzd/jpy h4- buob.
pro: round number 60.00, divergence, support.
con: fta very near.
Attached Image (click to enlarge)
Click to Enlarge Name: nj.gif Size: 26 KB
meine augen sind die sterne
  • #71,813
  • Aug 16, 2010 10:59am Aug 16, 2010 10:59am
Quoting spookie94
I'm not sure. When I try to place a pending order I get a message stating invalid SL or TP. Then I notice it says pending orders must be at least 30 from market price????
Ok this is how I closed half the position size on my FXopen demo.

You should be able to enter a position in the opposite direction as your initial position. Select the lot size that is half the initial position.
Now you're half squared (half of the initial position is cancelled out by the new position.)

Now right click the new position, and select "close order". This will pop up the familiar menu. Here, under TYPE, select "Closed by" or "Offset by" (or something similar, as my client isn't English). When you select this, you will be able to select the position that you want to perform the hedge on. Here select the initial position that you wanted to reduce.
The nail that sticks out gets hammered back in
  • #71,814
  • Aug 16, 2010 11:00am Aug 16, 2010 11:00am
  •  jdl
  • | Joined Oct 2006 | Status: going to master this or die trying | 101 Posts
Quoting spookie94
I'm not sure. When I try to place a pending order I get a message stating invalid SL or TP. Then I notice it says pending orders must be at least 30 from market price????
You are required to set your SL at least 3 pips away from current price. IBFX uses 5 digit pricing, so 3 pips is equal to 30 "pipettes".

For example,
4 digit pricing:
price is 1.2835. You must set your stop loss at 1.2832 or lower (3 pips).


5 digit pricing:
price is 1.28350. You must set your stop loss at 1.28320 or lower. (30 pipettes).

The two quotes above are identical. But IBFX and many other brokers refer to the 5th digit as a pip, which is technically true, but confusing if you are used to 4 digit pricing.
  • #71,815
  • Aug 16, 2010 11:24am Aug 16, 2010 11:24am
Quoting aserbfx
anyone in this?
aserbfx> This is not a valid pinbar on my feed (different time zone probably).
Attached Image
  • #71,816
  • Aug 16, 2010 11:25am Aug 16, 2010 11:25am
Quoting jdl
You are required to set your SL at least 3 pips away from current price. IBFX uses 5 digit pricing, so 3 pips is equal to 30 "pipettes".

For example,
4 digit pricing:
price is 1.2835. You must set your stop loss at 1.2832 or lower (3 pips).


5 digit pricing:
price is 1.28350. You must set your stop loss at 1.28320 or lower. (30 pipettes).

The two quotes above are identical. But IBFX and many other brokers refer to the 5th digit as a pip, which is technically true, but confusing if you are used to 4 digit pricing.
This is how I understand it to work as well thanks for clarifying.

Best way to see this all is executing trades on your demos and just watching the dynamics in play
  • #71,817
  • Aug 16, 2010 11:32am Aug 16, 2010 11:32am
NZUSD,

I am watching this pair for possible pin bar close. There seems good previous support too. (double bottom)
Attached Image (click to enlarge)
Click to Enlarge Name: nzusd.gif Size: 19 KB
  • #71,818
  • Aug 16, 2010 11:54am Aug 16, 2010 11:54am
Quoting jarroo
Very understandable Dan . . but . . wow . . your I4Bs (or IBs) at BRNs freaking rule.
freakin awesome lol
Attached Image
Many choose unhappiness over uncertainty.
  • #71,819
  • Aug 16, 2010 12:29pm Aug 16, 2010 12:29pm
Quoting Dan Gilbert
freakin awesome lol
Did you trade this Dan?
  • #71,820
  • Aug 16, 2010 12:33pm Aug 16, 2010 12:33pm
Quoting fxprocessor
Did you trade this Dan?
http://www.forexfactory.com/showpost...ostcount=71616

http://www.forexfactory.com/showpost...ostcount=71750
Many choose unhappiness over uncertainty.
53 traders viewing now