DislikedSry I should have looked more closely at your following charts. I'm catching some action here.Ignored
Easy Eyes (No Indicators) Simple Day Trading
- #123
- Dec 7, 2010 8:46am Dec 7, 2010 8:46am
- Joined Nov 2010 | Status: Pips... or GTFO! | 1,023 Posts
Sorry most my time I started a new thread and also I have finals coming up so I have been laid back on trading until finals are over
- #128
- Dec 7, 2010 11:03am Dec 7, 2010 11:03am
- Joined Nov 2010 | Status: Pips... or GTFO! | 1,023 Posts
I have pivots on my charts but am using them less and less each day. I am using market structure to pinpoint previous swings. Google "market structure highs" for more info - there might be a thread at FF as well.
I set a standard target of 21 pips with a 13 pip SL. Today I took 6 trades - got 21 on all but 1 (a loss - only because i moved my stop too soon).
I have tried to hold for swings but do not have the intestinal fortitude to watch a profitable trade turn red, so I just collect 21 and look for the next entry.
looking at the charts,...
- #134
- Dec 7, 2010 1:22pm Dec 7, 2010 1:22pm
- Joined Oct 2008 | Status: Just be the witness. | 1,089 Posts
I use sierra charts - if you use them for charting I would be happy to provide a template.
I am testing sierra, and it looks good so far. Except for the fact that you enter trendlines through keyboard shortcuts.
However, I am just starting out. It would be great if you could post your template for the group or PM me.
And I will digg out another idea that works with some stochastic, I had this from another sierra user.
Many thanks, very interesting thread.
______________
michael
Be like water.
- #136
- Dec 8, 2010 2:42am Dec 8, 2010 2:42am
- Joined Oct 2008 | Status: Just be the witness. | 1,089 Posts
@enochben
Thank you, I am in testing mode, do you use the FXCM or the ChoiceFX feed ?
I like the fact that you can switch timeframes so fast. I am used to MT4 and esignal.
My other idea to compliment this trading style was a combination of stochastics, 20,10,10 as larger waves and 5,3,3 as overlay.
There is a thread ( a bit older ) by Ninja96 here on FF who introduced me to this concept, maybe you can have a look. But this was based on Ensign charting.
Anyhow, many thanks - although my main trading is 4h and higher I like to have something I can use occasionally without much tech analysis.
Will report !
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michael
Thank you, I am in testing mode, do you use the FXCM or the ChoiceFX feed ?
I like the fact that you can switch timeframes so fast. I am used to MT4 and esignal.
My other idea to compliment this trading style was a combination of stochastics, 20,10,10 as larger waves and 5,3,3 as overlay.
There is a thread ( a bit older ) by Ninja96 here on FF who introduced me to this concept, maybe you can have a look. But this was based on Ensign charting.
Anyhow, many thanks - although my main trading is 4h and higher I like to have something I can use occasionally without much tech analysis.
Will report !
_______________
michael
Be like water.
- #137
- Dec 8, 2010 2:56am Dec 8, 2010 2:56am
- Joined Oct 2008 | Status: Just be the witness. | 1,089 Posts
If anyone likes trading the eurusd with this method ( hello Oandanians ), I have made good experiences with the basic Multiple Time Frame idea of Teb63 in his TEB trading thread.
Basically I use the 3h, 30min and 5min side by side, with a RSI set at 20 ( ! ). Highlight the 50 line.
If the 30min drops below the 50 line and 5min too, you very often see this confirmed by the Heikin Ashi candles.
In a way, this is a bit like the commercial forex-made-ez system, but without the clumsy oscar counting method, point-and figure etc.
We have our own tweaked method, and it is safer and free.
Just my 2 cents....
_____________
michael
Basically I use the 3h, 30min and 5min side by side, with a RSI set at 20 ( ! ). Highlight the 50 line.
If the 30min drops below the 50 line and 5min too, you very often see this confirmed by the Heikin Ashi candles.
In a way, this is a bit like the commercial forex-made-ez system, but without the clumsy oscar counting method, point-and figure etc.
We have our own tweaked method, and it is safer and free.
Just my 2 cents....
_____________
michael
Be like water.
- #139
- Dec 8, 2010 8:06am Dec 8, 2010 8:06am
- Joined Oct 2008 | Status: Just be the witness. | 1,089 Posts
Hi enochben,
I finally managed to load the template, thank you. Funny how the brain, once used to 1 way of doing something is so " tunneled ". The file endings in esignal and MT4 are different, so I was making everything more complicated than it is.
Thank you, will test tomorrow morning.
For rspathy, I will try to create something similar as a template in Mt4, and also show some examples that could compliment this way of trading.
However, I think we have to stick to the main idea of the thread starter, and that is the MTF use of Heikin Ashi candles.
More soon, once again a big thank you !
___________
michael
I finally managed to load the template, thank you. Funny how the brain, once used to 1 way of doing something is so " tunneled ". The file endings in esignal and MT4 are different, so I was making everything more complicated than it is.
Thank you, will test tomorrow morning.
For rspathy, I will try to create something similar as a template in Mt4, and also show some examples that could compliment this way of trading.
However, I think we have to stick to the main idea of the thread starter, and that is the MTF use of Heikin Ashi candles.
More soon, once again a big thank you !
___________
michael
Be like water.