Parking Space

Hi FxCube

I like what you are doing here, nice and simple!

My main trading tool is the median line. The way I trade median lines is to open at the median line because I consider it the lowest risk entry price.

However, whilst median lines do a great job at picking extremes, one doesn’t always get the preferred market structure to confirm entry right at the median line.

Hence, given the lowest risk entry is at the median line and market structure confirming direction may not occur at the median line, it is easy to miss out.

As such I wouldn’t mind finding a tool or two to help increase opportunities at the median line.

I don’t think your BBs are much use to me because they do not lead.
But your CCI14 may have something to offer.

Below I use your GJ trade to illustrate my point.

In the GJ example,
my median line tells me price may find resistance at the extreme shown, but I don’t have the market structure to inspire entry at the lowest risk price (the median line).

However the CCI is giving a good signal down before price moves away from the median line.
Perhaps it will be useful in future such circumstances.

.

NZDJPY, Weekly, 2011 February 16

Forecast
NZDJPY is forming a triangle.
The outbreak could have an impact of other yen crosses.

Hello Peter

So you focus on a very important thing at Market Geometry. I'm sure you've read some median line books and e-book e.g. from Tim Morge, Greg Fisher and Gordon. I hope you could test it out and will post some results of CCI/Median-Line combination here again. Have heard that MT5 should has a much better pitchfork tool then MT4. Interesting feature!

Kindest regards
FXcube

For all here who wants to know the basics about median line go at MT4 > "Insert" > "Andrews' Pitchfork" and look the video:



There is an interactive trading thread at FF: http://www.forexfactory.com/showthread.php?t=76597.


Kindest regards
FXcube

here is a recent example (ACh 240) of an ML short i would have liked to take
but couldnt find the market structure to confirm entry,
your CCI may have helped in this instance

short 0.9800, TP 0.9560ish

.

Forex Trading - The 10 Biggest Errors News Traders Make

Fact - 95% of forex traders lose and they will make one or more of the mistakes below, so avoid these common errors or join them, here they are:

1. Trying to Predict Forex Prices. Most novice traders think that the way to win is to predict where prices are going but that's simply hoping or guessing and you won't get far with that currency trading - you need to trade confirmation of trend changes only.

2. Believing Markets are Scientific
Forex traders who try to predict also fall victim to the myth that markets are scientific. They follow forex trading systems based around - Elliot Wave, Gann, or Fibonacci and lose. Of course these systems all fail because if there was a scientific theory of market movement, we would all know the price in advance and there would be no market!
Trading FX is a game of odds not certainties.

3. Day Trading
The most common myth of all. More novice traders try to use forex day trading systems than any other method - it doesn't work. As we have said forex is a game of odds not certainties and there is no way you can possibly work out where prices are going within a day.
If you day trade the odds are against you and you will lose your money - period.

4. Trading to Often
Most traders think they should always be in the market in case they miss a move but this is rubbish. You should only trade when your currency trading system tells you there is high odds trade, then and only then should you execute your trading signal.

5. Trying to Buy Low Sell High
This again goes with the trader who wants to predict prices with their forex trading strategy - but it wont work and the best moves with the best odds are breakouts. Most major trends start from new market highs and you need to learn to buy them if you want to make money.

6. Blindly Following a Vendor
There are plenty of vendors selling forex trading signals and forex trading system software where if you follow it they tell you that you can make money - the vast majority are junk and come with simulated track records. Try and find one with a real track record and get ready for a long search.
We can all make money in hindsight but that's not the real world.

7. Trying to Trade the News
If people could trade by following the news there would be a lot more winners than losers! Sure the stories are convincing but that's all they are stories. I love Harry Potter books but I don't think I can fly! News reflects the greed and fear of the herd and if you trade it get ready to dump your money quickly.

8. Making Their Forex Trading System to Complicated.
Many traders assume the more inputs they cram in the better a trading system will work however the total opposite is true - cram too many indicators in and the system will break. Simple systems work best as they are more robust.

9. Failure to Run Profits
There is a lot about said about traders not keeping their losses small, but a far bigger reason for losses is their failure to run profits. Traders get excited when they get a profit and the bigger it gets the more tempted they are to take it. Of course a few dips in their open equity, sees them snatch it - then what happens?
It turns into a mega trend and goes the way they thought and their not in - this happens all the time. You need to have confidence and conviction to accept huge gains.

10. Over leveraging and Stops to Close
Sure you can get 400:1 leverage and trades use it and place stops within normally volatility. I often hear people talk about using a 30 pip stop! Well you may as well flip a coin; market volatility will kill your equity.
You need to de leverage and give a stop that's logical.

Finally - Answer this question Before You Trade:

If you understand you mustn't make the above mistakes there is one more question to consider before you trade ask yourself this:

What's your trading edge?

In other words why should you win when the vast majority of traders fail? The edge you have must be logical and you must have confidence in it, to beat the majority of losers. If you don't know what it is you don't have one and its back to your forex education.

Forex can give you a life changing income if you work smart, avoid the mistakes above, get a simple currency trading system and apply it with discipline and you will soon be enjoying currency trading success.

Copyright www.learncurrencytradingonline.com

GBPJPY, Weekly, 2011 February 17
GBPJPY, Daily, 2011 February 17
GBPJPY, H4, 2011 February 17

The market price has touched the upper line of BB the first time. If weekly support line will be broken further upwards may be we could see a bigger trend then.

CCI(14) is forming a Top so there could be an acceptable probability for a short investment.

Daily gives signal downwards but H4 & H1 are signalising that it won't be the best time for it.

Hi Forexcube,

Thanks for the compliments. I must say you are an unusually nice fellow. Most thread originators would have blasted me to hell and back. I'm afraid my last post eliminated a lot of the indicators you have on your chart which wasn't my intention. I have tried to simplify my own charts in the past but have never really succeeded. What works for some doesn't work for others it seems.

Happy pipping,

Johnny

Thks FX Cube..
I will.. just have to take the time to learn how..

EURUSD, H4, 2011 February 17

The focus might be more at 23.6, 50, 61.8 at present.

EURUSD, M30, 2011 February 17

Range Bound at M5 with regard at M30 and waiting for a bigger breakout (up or down)

see chart #31, please.

3 bars more right, switch at M5 and make profits with some ups.

EURUSD, H1, 2011 February 17

Hi Johnny!

Everyone has to work out his own Trading System by himself. It's really not my intention that everybody copy my trading system 1:1. I think it's one idea and may be interested traders could use this in his own procedure some way or other after have making an endurance test. If you can use some aspects of this idea then it's fine, if not throw it away.

You're wellcome!

Best regards
FXcube

EURUSD, M5, 2011 February 17

Sometimes it could be a benefit to trade M5 with the BBs & CCIs and the divergences when market seems to be directionless or seems to be in a consolidating phase,...only for making short profits while waiting for a breakout.

re your EU60m trade,

how much do you consider market structure when sourcing trades, if it all?

because this type of MS on EU 60, shown in my chart, puts me off the short you have selected

am interested to know!

thanks

.

...

Silver, H4, 2011 February 18

Enter Short at 31.85

Ger30Mar11, Daily, 2011 February 18

Enter Short at 7405.0

How do you define the complex term "market structure"? What do you mean by this?

Forex Trading seems for me a dynamical event where you have consider various parameters and has to cut down at one Focus finally:
"Buy-Order" / "Sold" / "Hedge-Position" with regard of the lenght of time.

FXcube