QuoteDislikedGBP/JPY dropped over 240 pips.. I call that currency the.. Widowmaker
that's funny
and you are right
I used to LOVE GBPJPY on M5 TF so much...maybe it was a bad love
anyway,I'm glad that I posted something useful
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QuoteDislikedGBP/JPY dropped over 240 pips.. I call that currency the.. Widowmaker
Dislikedthat's funny
and you are right
I used to LOVE GBPJPY on M5 TF so much...maybe it was a bad love
anyway,I'm glad that I posted something usefulIgnored
DislikedHey Sand ... for some reason, this all sounds strangely familiar
Re. the short tf's: To the novice trader, scalping these mkts seems like a no-brainer. They start calculating the possible rewards of taking several trades/day using a standard lot, or worse, multiples, and then compound the problem using skewed R:R. They'll risk 20p, and grab 5 for a quick profit. But then when the mkt doesn't cooperate, they figure they can average down/up their less than perfect entry, only to see the mkt continue to race in the wrong direction. It doesn't...Ignored
DislikedI'm using the info from page 1 with a couple modifications that NB has offered. He started the system on the H1 chart and missed using the H4 from what I could understand. So, he gave this link: http://www.forexfactory.com/showpost.php?p=4316327 of what he is using to include the H4. It still has everything on the H1 and he's made the H4 to be read for a bigger picture. He even describes how to trade on the H4 if you want to use it. I'm using the H1.. more entries from what I can see so far.
The other modification that I'm using...Ignored
DislikedI ended up missing most of the trades because of work. Maybe I should just stop working... lol maybe I should make it so I don't have to work.. eventuallyIgnored
DislikedNB:
Is there an EA that will manage the trade after entering without having to load another EA?Ignored
DislikedI agree Snowman. I'm sticking with the H1 charts. I have been comparing the H4 and H1 charts and I'm liking the amount of entry opportunities on the H1. I've just had to be checking in more often and it's been working well. I love the '1.2 1h 4h trend' template NB shared with us. It allows me to check in on the H4 and see the longer term bigger picture.
I'm also remoting into my computer from work (don't tell my boss) so that allows me to keep track of them more often. It's literally taking less then 5 min to check on more than 20 markets, set up...Ignored
DislikedI mainly look at the markets a few hours before the London open and also before the U.S. open. Everyone has their own preferences. That's what I've been doing. I haven't looked too much during the Asian time period because that's when I'm getting home from work and getting things done around the house. I'm on the west coast in the U.S. and thats the times I'm working with.Ignored
DislikedRight now the time is 5:15 in the afternoon and I'm just getting home from work and for me the Asian market is trading now. London won't open for another 7 hours from now. So just before I go to bed around 9 or 10 pm I check the markets for about 5 minutes and see how things are. Then I get up around 5 am and check on things again... for another 5 minutes.. Then after a while at work I remote in to home and check on things again for another 5 minutes or so.
You know.. this 5 minute stuff is really blowing me away. After making over 230 pips in...Ignored
DislikedI'm using the info from page 1 with a couple modifications that NB has offered. He started the system on the H1 chart and missed using the H4 from what I could understand. I'm using the H1.. more entries from what I can see so far.
I'm lovin this because like I said.. It just takes me about 5 minutes to go through a little over 20 currencies and set the EA and I'm good to go. I have to keep a close eye on them, but that's better than what I was doing before.. trading for hours at a time on the lower TFs.. INSANITY!!Ignored
DislikedI'm watching your posts because I too live on the West Coast (and if you tell me you're in San Diego, I'll be really jealous cause that's where I want to move as soon as I can!).Ignored
DislikedI understand checking several times a day but don't really want to get up at 5am, although that's probably the best time to check.
Not sure why you say you're tired if you only have to check 5 minutes 3 or 4 times a day. Are you stressing over the trades?Ignored
DislikedAgain what do you mean by "having to keep an eye on them"? Don't you set the EA, come back later to see it there's a trade and set the MPTM? I'm trying to figure this out for me since I don't want to get up during the night to check the London session.
Could you perhaps post a few screenshots explaining your setups and trade management? Thanks.
EricIgnored
DislikedThanks, amigo.
Am ALWAYS struggling with getting the settings correct.
A step closer again.Ignored
DislikedI like both EAs and I use them both.. These are not "set and forget" EAs. You have to keep an eye on them. But when I notice a currency in a good setup, I throw one of these on the let it rollIgnored
DislikedSo you actually use the Auto EA and the Manual both? When do you use the Auto EA?
And you mentioned before about looking at the H4 but trading on the H1. What do you look for in H4?
txIgnored
DislikedI guess I'll have to get ready for the dreaded.. '5 minutes' of research Sunday night. But somebody has to do it.Ignored
DislikedHey, would you mind posting a quick note here tonight after you look at the charts, and say which ones you're watching? Just to see if I'm seeing the same things. txIgnored
DislikedHey, would you mind posting a quick note here tonight after you look at the charts, and say which ones you're watching? Just to see if I'm seeing the same things. txIgnored