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  • #299,681
  • Oct 1, 2010 11:40am Oct 1, 2010 11:40am
I have some questions.

For day trading, which timeframe will be my main concern? H1 or H4?

About momentum, which one you use? I use MACD, pretty enough? And to which time frame I will look first to measure momentum?
In forex, one currency is always up!
  • #299,682
  • Oct 1, 2010 11:44am Oct 1, 2010 11:44am
A successful week of trading! Made 10% on my account. See you guys next week

Cheers
  • #299,683
  • Oct 1, 2010 11:48am Oct 1, 2010 11:48am
Just closed my 15th postion for 2,000 pips got another few riding up 3,000 theres 200 pips on the bench I think I'll bring them on at half time, hoping for a goal. My star players out with a hamstring injury should be back next week. Full credit to the boys they pulled togeather and brought us over the line, big thank you to the fans, the sponsors, god.

Cheers.

P.S - Im awesome

Inserted Video
Time hides Nothing
  • #299,684
  • Oct 1, 2010 11:50am Oct 1, 2010 11:50am
Quoting kidspips
I have some questions.

For day trading, which timeframe will be my main concern? H1 or H4?

About momentum, which one you use? I use MACD, pretty enough? And to which time frame I will look first to measure momentum?
For intraday trading watch DAILY and HOURLY timeframes. Entries-m15.

Momentum is measured by momentum indicator. For intraday analysis I use h4 where I put MOM divergence indicator.

MACD is not enough as both OBV and MOM are stronger then MACD.

OBV is used in advanced analysis.

T
  • #299,685
  • Oct 1, 2010 11:51am Oct 1, 2010 11:51am
Quoting CindyXXXX
Just closed my 15th postion for 2,000 pips got another few riding up 3,000 theres 200 pips on the bench I think I'll bring them on at half time, hoping for a goal. My star players out with a hamstring injury should be back next week. Full credit to the boys they pulled togeather and brought us over the line, big thank you to the fans, the sponsors, god.

Cheers.

P.S - Im awesome
lulwot?
  • #299,686
  • Oct 1, 2010 11:52am Oct 1, 2010 11:52am
Quoting T@rantula
Eu hasnt reached 3820 on Friday, but 3775 was quite good. Im closing my trades for today, as this weekend was very successful.

Next week Ill provide new analysis.

T
so you do not think it will reach 3800 today
  • #299,687
  • Oct 1, 2010 11:59am Oct 1, 2010 11:59am
Quoting digictron
so you do not think it will reach 3800 today
It wont...Confirmed momentum bear..that happened while I was driving home...but still If u made an entry when I posted, u could have made a good profit

Cheers
  • #299,688
  • Oct 1, 2010 11:59am Oct 1, 2010 11:59am
Quoting kidspips
I have some questions.

For day trading, which timeframe will be my main concern? H1 or H4?
As simple as this question is, it is much more complicated then that. You should always be aware of the bird's eye view, whats happening on the larger time frames and gradually work your way down to the smallest time frames possible. In other words, use a daily or weekly chart to see the main trend, go down to the 4 hour chart to see the trend for the week, and work your way down to the hourly chart to see the trend for the day. When you decide on an entry point you should focus on the smallest time frame you feel comfortable with (5 or 15minute chart for me) and use whatever indicator you use or patterns to determine entry. You must also keep in mind though what time of the day it is, Asian session, European session or US session. PA tends to behave differently among all the sessions depending on what is influencing the markets at that time. Not only that but you must focus on news releases as well as they tend to create quite a bit of volatility right before news release and afterward where even the 1minute time frame may not be small enough, best to avoid these times ( lately the unscheduled news influenced the markets the most).

In essence, you must get a feel for the markets and this comes with many hours watching pa day by day until what you do and how you interpret things becomes a routine, with the only changes in perception being the necessary adjustments you must make to the present market conditions. This entirely depends on your trading strategy.

Hope all this helps, since I don't use MACD hopefully someone else will answer that. Good pippin

Side note: (sometimes the best trade is no trade. I havent placed an order all week. Why? Because pa we have seen for weeks now rarely occurs, has intervention written all over it. This chart I will post you usually see only on the smaller time frames (15min or 1hour max....not 4hour or daily)

Attached Image (click to enlarge)
Click to Enlarge Name: boom1.jpg Size: 62 KB


In these type of extended trends, if you didn't enter when the uptrend started, it would be difficult to find any entry point at a later time since the possibility of reversal is always strong, yet how long the uptrend will continue is unknown. Best thing to do is wait for a breakout
Different opinions highly valued, ignorant to slander.
  • #299,689
  • Oct 1, 2010 12:01pm Oct 1, 2010 12:01pm
So Who is better to short when time comes.

EUR or AUD
Attached Image
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #299,690
  • Oct 1, 2010 12:02pm Oct 1, 2010 12:02pm
Quoting T@rantula
For intraday trading watch DAILY and HOURLY timeframes. Entries-m15.

Momentum is measured by momentum indicator. For intraday analysis I use h4 where I put MOM divergence indicator.

MACD is not enough as both OBV and MOM are stronger then MACD.

OBV is used in advanced analysis.

T
Thanks for your help.

I am not familiar with the rest 2 but I heard about MACD. How to get MOM divergence indicator? What is the basic difference between MACD and MOM divergence?

When a breakout occur, for confirmation in which timeframe of MOM divergence indicator you look, M15?
In forex, one currency is always up!
  • #299,691
  • Oct 1, 2010 12:02pm Oct 1, 2010 12:02pm
Quoting psiholog
As simple as this question is, it is much more complicated then that...
Intraday EU targets are spotted during a trend consolidation in late asia watching daily and hourly timeframes
  • #299,692
  • Oct 1, 2010 12:02pm Oct 1, 2010 12:02pm
Quoting T@rantula
It wont...Confirmed momentum bear..that happened while I was driving home...but still If u made an entry when I posted, u could have made a good profit

Cheers
yes i did, and I am still holding some of them, I am wondering if you think it will go up little bit or should I close
  • #299,693
  • Oct 1, 2010 12:08pm Oct 1, 2010 12:08pm
Quoting psiholog
Because pa we have seen for weeks now rarely occurs, has intervention written all over it.
Pardon me but what type of intervention are you taking about?
Look Sharp/Trade Tight
  • #299,694
  • Oct 1, 2010 12:09pm Oct 1, 2010 12:09pm
Quoting T@rantula
Intraday EU targets are spotted during a trend consolidation in late asia watching daily and hourly timeframes
I used to follow this but not anymore. Asia tends to consolidate towards a significant resistance or support level by the time Europe comes around. In the past it was followed by a return to the other significant level of resistance/support. These days, chances of breakout are 50/50. Too much of a gamble when precision is the name of my game. When intervention in the markets ends, this note will be part of my playbook once again.
Different opinions highly valued, ignorant to slander.
  • #299,695
  • Oct 1, 2010 12:09pm Oct 1, 2010 12:09pm
Quoting capcity
hey mate, 1st of all, i like your nick, coz i am also a scalper. haha,...for me, i do not know when will USD be strengthing, but i noe, whatever goes up must come down. And the FED willl sure do something (human nature).

what abt u?
wel if its going down next week thets good news for me
  • #299,696
  • Oct 1, 2010 12:13pm Oct 1, 2010 12:13pm
Quoting PayTheLimit
Pardon me but what type of intervention are you taking about?
The universal scope of making the dollar weaker with the Feds buying treasuries in preparation of a stronger Yuan. At least thats the rumor which in my opinion is just a temporary massive bull trap for the long term investors who dont have a clue what their doing with their money. Weaker dollar, stronger equities markets, stronger equities, more sheep willing to invest long term before the next leg down. The main problem the past few years has been that the retail investor has kept his money on the sidelines. What better way to attract money back to the equities markets then what the feds are doing now.
Different opinions highly valued, ignorant to slander.
  • #299,697
  • Oct 1, 2010 12:15pm Oct 1, 2010 12:15pm
Quoting DMA Trader
So Who is better to short when time comes.

EUR or AUD
thats why i love eur/usd either it is 7% down in a month and the next 7% up, a nice trending currency, makes lot easier to trade the trending currencies.
  • #299,698
  • Oct 1, 2010 12:18pm Oct 1, 2010 12:18pm
Quoting psiholog
The universal scope of making the dollar weaker with the Feds buying treasuries in preparation of a stronger Yuan. At least thats the rumor which in my opinion is just a temporary massive bull trap for the long term investors who dont have a clue what their doing with their money. Weaker dollar, stronger equities markets, stronger equities, more sheep willing to invest long term before the next leg down. The main problem the past few years has been that the retail investor has kept his money on the sidelines. What better way to attract money back...
Thanks for clarifying
Look Sharp/Trade Tight
  • #299,699
  • Oct 1, 2010 12:22pm Oct 1, 2010 12:22pm
Oil is profiting from that US Dollar garbage... 81.35 now...
US Dollar is trash... Get out of that Ponzi scheme !!!
  • #299,700
  • Oct 1, 2010 12:23pm Oct 1, 2010 12:23pm
Quoting Bootleger
Oil is profiting from that US Dollar garbage... 81.35 now...
Oil up = EURUSD up or down?
Today's zone = Tomorrow's opportunity!
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