3 tap on Gbp/Jpy, but mixed rsi, big spread on this also 8 pips, makes it a difficult pair to trade unless absolutely sure but very nice 3 tapper
respect to all
Hi Galleni. I think LawGirl went beddy-bye. I hope I'll do. Right click any blank space on your chart. Then left click "Properties". A screen with 2 tabs should pop up. "Colors" and "Common". Left click the "Common" tab. check the box next to "Show Period Seperators" then click OK. And that should do it. You need to do each chart seperately.
Ignored
or save your preferred set up as template and use that on every chart
Also I'm still a little lost on where my entry should be....on the 3 tap or on the next candle after the 3 tap? Where should I exit? These are things I've been looking into but can't seem to get it. Can you help.
Ignored
Hi there
I suggest you read post 1 again, as that answers your entry question - the third tap is the set up, but you must wait for price action to confirm b4 you enter trade - ie that bar or the following bar must be going in the right direction for the trade (all RSIs confirming)- you will need to decide how much confirmation you need b4 you enter; there are various confirmation methods discussed in the thread
As to exit - again there are quite a few discussions on that in this thread; I suggest you read the thread and make some notes about possible exit techniques; you could do worse than use 2 units and take profit on 1 unit at 20 pips or at first resistance point and trail the second unit, but the purpose of this thread is to show people how to identify potentially profitable set ups; it is up to you how you enter and manage your trades after entry.
You will see that Lawgirl says a number of times that she sets her TP and SL based on SR areas, but it is up to you how you manage your trade
Delighted that you are adding value to this thread.
May I ask whether you "dip down" to lower TFs, like M30 for instance?
Secondly, judging from the way you counted out the precise points, is the Pitchfork found under Indicators in MT4, accurate enough to use withou first counting the candles or should we rather do both?
Attached is an M30 TF. Notice that I took Point "A" (White) at the highest point, but would it have been "wrong" to select Point "B" (Blue)?
Delighted that you are adding value to this thread.
May I ask whether you "dip down" to lower TFs, like M30 for instance?
Secondly, judging from the way you counted out the precise points, is the Pitchfork found under Indicators in MT4, accurate enough to use withou first counting the candles or should we rather do both?
Attached is an M30 TF. Notice that I took Point "A" (White) at the highest point, but would it have been "wrong" to select Point "B" (Blue)?
Thank you for being willing to share.
Sincerely,
Ignored
One of the reasons I like this thread is because the participapnts stayed focused on the original idea of a trading plan whose beauty is in its funtional simplicity, and who are sharing their exprtiences in using that plan. I know many traders who use Andrew's Pitchfork profitably, and I have nothing against it. But IMHO a discussion of its use doesn't belong here. I have 4 different profiles on my MT4 platform, including one for LawGirl21's system. But it wouldnn't be right for me to discuss other methods on this thread. If this thread turns into a bunch of of posts on how to use Andrew's Pitchfork, I, for one, am outahere.
One of the reasons I like this thread is because the participapnts stayed focused on the original idea of a trading plan whose beauty is in its funtional simplicity, and who are sharing their exprtiences in using that plan. I know many traders who use Andrew's Pitchfork profitably, and I have nothing against it. But IMHO a discussion of its use doesn't belong here. I have 4 different profiles on my MT4 platform, including one for LawGirl21's system. But it wouldnn't be right for me to discuss other methods on this thread. If this thread turns into...
One of the reasons I like this thread is because the participapnts stayed focused on the original idea of a trading plan whose beauty is in its funtional simplicity, and who are sharing their exprtiences in using that plan. I know many traders who use Andrew's Pitchfork profitably, and I have nothing against it. But IMHO a discussion of its use doesn't belong here. I have 4 different profiles on my MT4 platform, including one for LawGirl21's system. But it wouldnn't be right for me to discuss other methods on this thread. If this thread turns into...
Ignored
You miss-read my Post in its entirety! It is NOT my intention to discuss "another method" but merely to ascertain the accuracy of selecting the correct turning points from where TLs are drawn and the Pitchfork saves you time in drawing those TLs in the first place. Secondly, IMHO the "3-tap"- technique only shows you entries albeit "late" and no TP-areas which according to Calstock, is precisely what his method does and by using correctly drawn Fibs, the combination has very good potential to be deadly accurate. (If you care to look at my picture that I posted, you will see what I am referring to)
Having said that, I will save you the "agro" and rather take leave myself.
Trade What You See - Almost Naked Trading
