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  • #353,201
  • Dec 28, 2010 1:32pm Dec 28, 2010 1:32pm
Quoting wannaberich
the biggest question still is: why was i all the way down looking for longs????

!
i think it is as the people said earņier you are always safer to go with the trend, now we now that falls are always steeper and faster than longs, so in reality in normal cases you wouldnt have to worry you will have enough time to go long.

now the other reason is because you might be buying normally long, so instead of shorting you wait to go long.

i am only saying this because i have made the exact same mistake, i waited , didnt go on the short wagon and went long at 1.313.

luckily enough it went back up there earlier on, but the only loses i have made in my couple of weeks trading was going against the trend and holding on, otherwise i have been correct on almost every trade i have done. (the couple of loses i had is almost as much as everything i have gained in all my trades)
  • #353,202
  • Dec 28, 2010 1:37pm Dec 28, 2010 1:37pm
still a bear & bear continuation pattern at the botton eu & bull in usdx , they both abort & turn oppsite pattern , waiting ,may need time to.possible scenerio> camel action.
fontu
Attached Image
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #353,203
  • Dec 28, 2010 1:37pm Dec 28, 2010 1:37pm
Quoting gatorinla
im not contertrending atm..and don't recommend it atm.... but if i was looking for a possible short entry.. i would use this... yellow chart #1 bull. its close to your #

i am on the lookout for a retrace sign... i just don't c it yet.
That is inline with my targets: 3167 and 3141
  • #353,204
  • Dec 28, 2010 1:39pm Dec 28, 2010 1:39pm
Quoting wannaberich
that's the same as the daily close right?

if so and like pivots, although i know they work fine for many traders, i left them because they are different from broker to broker (due to opening time).
There are several indicators to help find pivot points that you set by Daily Roll over and not off your brokers time...The daily open indicator is one of them. It gives the option of 2 daily opens, so you can set for daily roll and London, or Asian or whenever you want. Having a look at the ranges created can assist in your scalping.

That 1m chart that I had posted, I posted with the fib scale on it, because of the targets you were mentioning. See where the fib 38.2 line is? Right at daily roll. Right at a line of resistance....

I am not saying that this is the point that we are going to, again, I believe you have some what of an ambitious target, but all the same, with this whipsaw shit, you might just get there.

Check out the dolly indicator, another nice one to play with...you set the time and it can assist you in the direction as well as at daily roll, can show the true pivot points based on roll over....

Example of dolly....
Not telling you to use them for trading, point of reference, sure...and idea of s/r...why not....
Attached Image (click to enlarge)
Click to Enlarge Name: dolly.jpg Size: 73 KB
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #353,205
  • Edited 2:03pm Dec 28, 2010 1:42pm | Edited 2:03pm
Quoting Hda
Wannaberich: Thats a tight stop.
if we touch 3097 .. we will go to 3078 before 3120. nut bet
edit
invalid now. pa changed
those who can, do. those who cant, talk about those who can
  • #353,206
  • Dec 28, 2010 1:49pm Dec 28, 2010 1:49pm
Wannaberich....

Another great tool to scalp with is the large time frame.

You can select to watch an hourly candle on a lower time frame chart. If you are scalping, might just assume the trend. IF the first candle is red, watch for sells, assuming direction...if the candle is blue...watch for buying to assume direction...

A lot of traders could give a shit less what direction is the next 300 pip play...if you can get in and get out consistently with a few shekles, they will all add up at the end of the day.

Example of Large Time Frame indicator.
Attached Image (click to enlarge)
Click to Enlarge Name: ltf.jpg Size: 58 KB
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #353,207
  • Dec 28, 2010 1:49pm Dec 28, 2010 1:49pm
I'm forecasting now overdue 3050 expected 3150 close possible Sell 3210 early tomorrow.
Founder of Sutherland Wave Principle
  • #353,208
  • Dec 28, 2010 1:51pm Dec 28, 2010 1:51pm
I wonder will Asia gonna try a 200pip hike tonight,because i dont see other way they could shake out all the shorts,without attracting even more bears.
Or a more real scenario,bring it down in 30xx and then trap shorts with going into 31xx zone again.
Just my newbie thoughts here.
  • #353,209
  • Dec 28, 2010 1:53pm Dec 28, 2010 1:53pm
Quoting gatorinla
if we touch 3097 .. we will go to 3078 before 3120. nut bet
Gatorinla:

Ive taken my eye off the EUR/USD a bit, but i am with you on that call, Lets see what happens.

I am currently setting up to re-short my USD/CHF trade. Went short at 0.9613 Christmas Eve at 11am with an exit target 9410. It went to 9435 and is retracing to head back down. Im looking for 0.9550 to get in with another lot.
  • #353,210
  • Dec 28, 2010 1:56pm Dec 28, 2010 1:56pm
Quoting Magix
Wannaberich....

Another great tool to scalp with is the large time frame.

.
i guess i would have to research how to put up the opening pivot on my mt4
  • #353,211
  • Dec 28, 2010 1:58pm Dec 28, 2010 1:58pm
but i really don't scalp. truth is i tried it to... and failed. i know someone that makes a living out of 10 pips at a time. very patient guy, waits for the best setup he can find to make a couple of scalps a day.

maybe i could try again... but i can't be switching methods every time i have a bad day. i make a scalp or two within a week (todays my only two positive trades were around 20 pips but that's not really scalping, is it?

u scalp? 5 pips, 10 pips? works for u?

what i would really like to focus on is breakouts. breakouts go with my current way of thinking: first you get in after the move occurred (not guessing reversals) and second your are going with the trend (well, most of the times LOL)

but i let my guard down and there i am picking tops and bottoms... as gator says i should work at a night club LOL

Quoting Magix
Wannaberich....

Another great tool to scalp with is the large time frame.

You can select to watch an hourly candle on a lower time frame chart....
dreams do come true.
  • #353,212
  • Dec 28, 2010 2:00pm Dec 28, 2010 2:00pm
Quoting Magix
Wannaberich....

Another great tool to scalp with is the large time frame.

You can select to watch an hourly candle on a lower time frame chart....
Thanks for pointing out useful indicators. I manually use hourly chart and flip to 15M for intra-day entry/exit, this indicator will make it easier to visualize the high time frames when waiting for an entry or exit.
  • #353,213
  • Dec 28, 2010 2:01pm Dec 28, 2010 2:01pm
Quoting alexxi
i guess i would have to research how to put up the opening pivot on my mt4
If you want add daily open to your charts, indicator attached here. Set daily open to match your brokers time at NY close, or 5EST.

Use the option for Euro open to set to open of any other trade session or go into colors tab and set color to "None"...
Attached File(s)
File Type: ex4 DailyOpen.ex4   3 KB | 264 downloads
File Type: mq4 DailyOpen.mq4   3 KB | 281 downloads
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #353,214
  • Dec 28, 2010 2:03pm Dec 28, 2010 2:03pm
Quoting skozyuk
Thanks for pointing out useful indicators. I manually use hourly chart and flip to 15M for intra-day entry/exit, this indicator will make it easier to visualize the high time frames when waiting for an entry or exit.
Large Time Frame indicator attached.

I believe it is defaulted to daily, to set to any other time frame, just type it in exactly as your Meta4 dictates, ie. h1 will not work, but H1 will....
Attached File(s)
File Type: ex4 LargeTimeFrame.ex4   4 KB | 265 downloads
File Type: mq4 LargeTimeFrame.mq4   4 KB | 315 downloads
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #353,215
  • Dec 28, 2010 2:05pm Dec 28, 2010 2:05pm
Quoting Hda
Gatorinla:

Ive taken my eye off the EUR/USD a bit, but i am with you on that call, Lets see what happens.

I am currently setting up to re-short my USD/CHF trade. Went short at 0.9613 Christmas Eve at 11am with an exit target 9410. It went to 9435 and is retracing to head back down. Im looking for 0.9550 to get in with another lot.
its invalid now.
those who can, do. those who cant, talk about those who can
  • #353,216
  • Dec 28, 2010 2:06pm Dec 28, 2010 2:06pm
we didn't go to 97

Quoting gatorinla
its invalid now.
dreams do come true.
  • #353,217
  • Dec 28, 2010 2:07pm Dec 28, 2010 2:07pm
Quoting Magix
There are several indicators to help find pivot points that you set by Daily Roll over and not off your brokers time...The daily open indicator is one of them....

wise man try this indi for open and close and see if it works for rollover
Attached File(s)
File Type: mq4 $TrillionStrategySessions.mq4   9 KB | 301 downloads
  • #353,218
  • Dec 28, 2010 2:10pm Dec 28, 2010 2:10pm
Quoting wannaberich
we didn't go to 97
Wannaberich: Hang in there

Gatorinla: just looked back at the Eur/USd, yeah its invalid. wha price do you pic for the entry short and are you seeing longs? Im still short Eur - Your thoughts
  • #353,219
  • Dec 28, 2010 2:14pm Dec 28, 2010 2:14pm
Quoting wannaberich
but i really don't scalp. truth is i tried it to... and failed. i know someone that makes a living out of 10 pips at a time. very patient guy, waits for the best setup he can find to make a couple of scalps a day.

maybe i could try again... but i can't be switching methods every time i have a bad day. i make a scalp or two within a week (todays my only two positive trades were around 20 pips but that's not really scalping, is it?

u scalp? 5 pips, 10 pips? works for u?

what i would really like to focus on is breakouts. breakouts go with...
I have several methods of trading that work with Moving Averages, the Daily Roll price, ATR movement on a 1m chart...I keep several charts open with a few different brokers to watch for true triggers. I have 1 4 dig broker that I use that has a fixed spread...this one I use for accuracy on a lot of things as during daily roll price gets a little whippy...

No, you cannot change methods everytime you have a bad day, but that doesn't mean that your system cannot evolve...a tweak here and tinker there....

As far as taking a nice trade, and making it off of 1 trade per day, I have set up a template with a set of chart instructions over at the cable thread...I have my son trading on the same thing, 30m chart for TP 20. I showed him how he can add a lot by only adding a little...

Download link HERE.

Chart below...

And please, feel free to disregard anything I say. If this shit don't make sense and is only gunna cause you confusion...keep doing what you're doing...



nene.tpl chart attached....(sorry for the cable chart guys)
Attached Image (click to enlarge)
Click to Enlarge Name: nenetpl.jpg Size: 132 KB
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #353,220
  • Dec 28, 2010 2:16pm Dec 28, 2010 2:16pm
Quoting kill56
wise man try this indi for open and close and see if it works for rollover
Will do killer...

Gunna take off for a while but will add and check it out for the daily roll....



Thanks brother!
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
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