Islander and Medici trade the European open | Page 126 | Forex Factory

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Islander and Medici trade the European open

  • #2,501
  • Aug 27, 2010 1:09am Aug 27, 2010 1:09am
Quoting Islander
I hope this helps....
Defo, cheers

Market profile being VWAP and POC and all that I think?
  • #2,502
  • Aug 27, 2010 1:13am Aug 27, 2010 1:13am
Quoting furble
I'm so impressed by your reading of the market, it's like you have a crystal ball.

I'm new to trading, but the way I learnt was position trading on longer time frames, the way my teacher trades is mainly all break out trading, with the current market ,his techniques and my psychology, I'm finding it really tough with all the whipsaws so have started looking into trading shorter timeframes for smaller pip profits, as you stated somewhere earlier in this thread, it's better to make a consistant 20 pips a day then 100 pips every now and then....
Hello furbie, and warm welcome to the thread!

Yes, breakout trades work only in longer TFs, and even there less and less often as the markets get more efficient, or, differently put, as those controlling the market get better at feeding themselves on a diet of breakout traders.

And as the market mostly isn't trending, we need something else to keep a steady income. IMHO divergence plays is the way to go.

Welcome again, and feel free to participate further.
  • #2,503
  • Aug 27, 2010 1:16am Aug 27, 2010 1:16am
Quoting reflex
Sorry if you have spotted this post Medici but if you missed it I thought I should post it again.
Like he said poepele might miss it cause it comes through late.
Thanks, yes missed that for that very reason.
  • #2,504
  • Aug 27, 2010 1:28am Aug 27, 2010 1:28am
Quoting Sim
Defo, cheers

Market profile being VWAP and POC and all that I think?
like this....
Attached Image (click to enlarge)
Click to Enlarge Name: aug 27 cable 5m lo plus 26m.gif Size: 33 KB
Trading Levels with WRBs
  • #2,505
  • Aug 27, 2010 1:34am Aug 27, 2010 1:34am
Quoting Islander
like this....
Ah very nice, similar to malcomb's charts!
  • #2,506
  • Aug 27, 2010 1:42am Aug 27, 2010 1:42am
Note the combination of M5 + M1 divergence, and PA, in this entry.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: cable m5 27 aug 2.gif Size: 30 KB
  • #2,507
  • Aug 27, 2010 1:44am Aug 27, 2010 1:44am
Quoting medici
Thanks, yes missed that for that very reason.
Thanks Reflex for the repost and thanks Medici for the welcome to the thread.

I look forward to studying this thread and being able to understand all the jargon and indicators used.

Since the techniques I learnt generally work on larger timeframes his entries were not as "pip accurate" as you guys trade here, I don't want to say his entries are sloppy as that would be doing him a great injustice as I have learnt a lot from him.

He did show us fibonacci indicators, but said he doesn't like to rely on them as they are mathematical constructs, but he had them up during his day trade sessions as indicators as he knows they are popular with other traders.

It seems when you guys use Fib it seems super accurate, after looking at the way you guys trade, I would love to add shorter term trading to my arsenal, after all knowledge is power, and it seems this thread has collected some very powerful traders.

Cheers
furble
  • #2,508
  • Aug 27, 2010 2:12am Aug 27, 2010 2:12am
I'm posting this in addition to some comments made by Islander on vol and Medici on divergence this am.

Whilst I saw this going on and was expecting up I'll be honest and say I didn't see an entry I liked so missed out.

OK on divergence here the 15 min is clear.

The highlighted arrow up candle, high vol neg close but no follow through, the 5 min vol (not shown) was falling off as price stayed below 5500 so sellers were not interested.

The analysis will pay off on those days where there are (for me) clearer entries.
Attached Image (click to enlarge)
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  • #2,509
  • Aug 27, 2010 2:12am Aug 27, 2010 2:12am
Medici-The part of the indicator ( cci) that you use was actually developed by Andrew Cardwell who is regarded as the RSI guru. He uses stoller bands instead of BB's.Both Cardwell and Brown do not use BBs.
  • #2,510
  • Aug 27, 2010 2:13am Aug 27, 2010 2:13am
Quoting medici
Hello Lee. Welcome to the thread! Glad to see more and more joining the fun. Good that you're not as shy as Lucklady

Self-taught comes with reservation though. The people that I have learnt from have been instrumental and shortened the journey by leaps and bounds. Still, we all have to do our own research. Self-reliance is at the core of things.

Glad to have you on board, and feel free to join in as you see fit.
I don't think anyone is as shy as LL

Thank you for the warm welcome. I will need to do a lot of reading before I start tpying to much and making a fool of my self.

May I ask, at the risk of sounding lazy, but with the comfort of not appearing to stupid, if I were to start reading about the CII indicator here, where would i need to start........ie how many posts back?

LL raves about you two chaps and this thread, so no doubt I will read the whole thread, but I am excited about this CII, and it sounds like you chaps are too, so I'd want to get cracking with it asap.

I don't wish to appear lazy, but as I said, I don't want to start posting questions about things that have already been answered many many times...... I hope you understand.

Regards

Lee
  • #2,511
  • Aug 27, 2010 2:17am Aug 27, 2010 2:17am
Post here re CII http://www.forexfactory.com/showpost...tcount=2425ost M looks like an update of 1st post methods needed?
  • #2,512
  • Aug 27, 2010 2:21am Aug 27, 2010 2:21am
Quoting leemonk
I don't think anyone is as shy as LL

Thank you for the warm welcome. I will need to do a lot of reading before I start tpying to much and making a fool of my self.

May I ask, at the risk of sounding lazy, but with the comfort of not appearing to stupid, if I were to start reading about the CII indicator here, where would i need to start........ie how many posts back?

LL raves about you two chaps and this thread, so no doubt I will read the whole thread, but I am excited about this CII, and it sounds like you chaps are too, so I'd want to get...
Obviously the more posts you can read, the more questions will be answered, but two quick ways to search are to click on the blue underlined posts number on the top right of each post. This brings up a list of that persons posts.

For finding indicators that have been posted, go to top of the page and click on the paperclip on the right side - this brings up a list of all of the attachments....

Good hunting
Trading Levels with WRBs
  • #2,513
  • Aug 27, 2010 2:44am Aug 27, 2010 2:44am
Thank you Islander.........

I appreciate your help. I will read the entire thread, as I generaly read everything that LL tells me to .......... so, hopefully I do notappear lazy........ I am just keen to get using this!

Regards

Lee
  • #2,514
  • Aug 27, 2010 2:48am Aug 27, 2010 2:48am
Quoting furble
Thanks Reflex for the repost and thanks Medici for the welcome to the thread.
[size=3]
I look forward to studying this thread and being able to understand all the jargon and indicators used.

Since the techniques I learnt generally work on larger timeframes his entries were not as "pip accurate" as you guys trade here, I don't want to say his entries are sloppy as that would be doing him a great injustice as I have learnt a lot from him.

[size=2]He did show us [b]fibonacci indicators, but said...
You're welcome!

I'm of a different opinion there. I think this market, and all markets for that matter, are mathematical constructs much in the same way as Bach fugue is. Deep topic, if you like, and then read Constance Brown's Fibonacci Analysis.

For the intraday stuff we do Fibs are essential. Looking at GBPUSD right now, and the support and resistance levels that it is bouncing between are Fibonacci levels. Without them, how could you trade?
  • #2,515
  • Aug 27, 2010 2:50am Aug 27, 2010 2:50am
Quoting Vantage
I'm posting this in addition to some comments made by Islander on vol and Medici on divergence this am.

Whilst I saw this going on and was expecting up I'll be honest and say I didn't see an entry I liked so missed out.

OK on divergence here the 15 min is clear.

The highlighted arrow up candle, high vol neg close but no follow through, the 5 min vol (not shown) was falling off as price stayed below 5500 so sellers were not interested.

The analysis will pay off on those days where there are (for me) clearer entries.
Very nice, thanks! I should perhaps add Vols to the toolbox...
  • #2,516
  • Aug 27, 2010 2:53am Aug 27, 2010 2:53am
Quoting Vantage
Post here re CII http://www.forexfactory.com/showpost...tcount=2425ost M looks like an update of 1st post methods needed?
Good point! Thanks. Still work in progress, though, so will summarise with rules etc when there's a first draft of something coherent. Any ideas and contributions to that welcome. Let's make it collaborative.
  • #2,517
  • Aug 27, 2010 2:59am Aug 27, 2010 2:59am
Quoting medici
Very nice, thanks! I should perhaps add Vols to the toolbox...
My limited vsa knowledge definitely helped me a lot.

All vol is not equal apparently. I'd suggest you compare your charts to some of those that Maclb has posted on his vsa thread. He uses tradeguider I think. To be honest my fxpro live vol was so close to every chart he posted, that paying for a service just didn't seem worthwhile.
  • #2,518
  • Aug 27, 2010 2:59am Aug 27, 2010 2:59am
Quoting leemonk
I don't think anyone is as shy as LL

Thank you for the warm welcome. I will need to do a lot of reading before I start tpying to much and making a fool of my self.

May I ask, at the risk of sounding lazy, but with the comfort of not appearing to stupid, if I were to start reading about the CII indicator here, where would i need to start........ie how many posts back?

LL raves about you two chaps and this thread, so no doubt I will read the whole thread, but I am excited about this CII, and it sounds like you chaps are too, so I'd want...
The first post mentioning CI divergence is on page 120. Still, do feel free to ask questions.
  • #2,519
  • Aug 27, 2010 3:07am Aug 27, 2010 3:07am
Medici do you use ProRealTime charts? I think you said you did when you posted me the Indicator.
If you do use them do you know if I can get volume on these charts I thinks I time I started to look at it.

Cheers
  • #2,520
  • Aug 27, 2010 3:09am Aug 27, 2010 3:09am
Quoting medici
Really? Connie Brown says that she's done it and that she's got it copyrighted. Do you have a source on that claim?
Sorry. Just found it myself so no need to post anything. Thanks for info.

Andy Cardwell's website is here:

http://cardwellrsiedge.com/

and he makes the claim that ph54 mentions here:

http://www.trade2win.com/boards/tech...ite-index.html
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