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  • #2,421
  • Mar 30, 2011 8:02am Mar 30, 2011 8:02am
Quoting Rcwso
The levels ...

Anything else?
Are you in the chat? I dont see ur nick there. Maybe we can sort this out in real time
  • #2,422
  • Mar 30, 2011 8:06am Mar 30, 2011 8:06am
Quoting alright
It's what u can see in the pics I posted. For setting up long orders you said to use the blue lines and for short the red lines. I highlighted what the levels to go in the ticket order should be instead. Hope that explains my thought. On post #2334 I attached a spreadsheet to get such levels automatically. Do you mind having a look?
Sorry to add more but I will try and explain with your math on your chart.

By the way, your short example looks correct with the chart.

On your chart spreadsheet you have the following math:

BUY Price = BAR High + 10 + Spread

That is incorrect. Buy price = Bar high + 10 pipettes or 1 pip. That is the actual entry price that you hit execute off of on your chart.

Then when calculating the stop loss you need to add the spread to get the total pips needed for take profit calculations.

So on your chart the actual calculation for stop loss should look like this:

Buy Price = A5 + 10 (This is the entry BID price)
Stop Loss = (B7 + (F2*10)) - C9 (This accounts for the spread which is needed)

That should be close. Right now you are adding the spread to the actual entry bar price before any calculations are done. That is not correct. It is added after the actual entry bar price (BID Price) for the stop loss calculation only.
  • #2,423
  • Mar 30, 2011 8:09am Mar 30, 2011 8:09am
If a pair is ranging, but the range is wide enough to trade, is it okay to use MAs for direction and to just trade the pullbacks using the same criteria?
  • #2,424
  • Mar 30, 2011 8:13am Mar 30, 2011 8:13am
eu looking possible again but be wary of support
  • #2,425
  • Mar 30, 2011 8:15am Mar 30, 2011 8:15am
Quoting d4n
eu looking possible again but be wary of support
Possible long setting up is what I am waiting for.

Same?
  • #2,426
  • Mar 30, 2011 8:20am Mar 30, 2011 8:20am
Quoting Rcwso
Possible long setting up is what I am waiting for.

Same?
So, are we still in uptrend until 14046 is broken? Is that right?
  • #2,427
  • Mar 30, 2011 8:27am Mar 30, 2011 8:27am
Quoting Delite
So, are we still in uptrend until 14046 is broken? Is that right?
Yes, overall I am saying up trend but as mentioned by a couple of people, it is mostly ranging from the past few days. It really is not established in a solid up or down until it breaks the main support/resistance again.

Just my thoughts.
  • #2,428
  • Mar 30, 2011 8:29am Mar 30, 2011 8:29am
Quoting Rcwso
Yes, overall I am saying up trend but as mentioned by a couple of people, it is mostly ranging from the past few days. It really is not established in a solid up or down until it breaks the main support/resistance again.

Just my thoughts.

Thanks. I tend to suffer from 'range blindness' and sometimes struggle to see which way we should be leaning- hence my question about the MAs.

Thanks again.
  • #2,429
  • Mar 30, 2011 8:37am Mar 30, 2011 8:37am
Quoting Delite
Thanks. I tend to suffer from 'range blindness' and sometimes struggle to see which way we should be leaning- hence my question about the MAs.

Thanks again.
I can't speak that well for the ranging market. What I have been watching are the bounces off of the support and resistance and if there is divergence with them. I do not want to say that I would trade them every time. Some certainly look like good set-ups.

Anyone else with thoughts on the ranging market signals?
  • #2,430
  • Mar 30, 2011 8:55am Mar 30, 2011 8:55am
I've been doing the same thing, looking for divergence off the bounces - but I think this is due to the fact I am used to being in the market more, I think this is something I need to remove from my mindset, the need to be in the market.

Divergence said yesterday (or early hours this morning for me) he has only had 12 trades this month - I definitely think I am overtrading (hence more losses)


Quoting Rcwso
I can't speak that well for the ranging market. What I have been watching are the bounces off of the support and resistance and if there is divergence with them. I do not want to say that I would trade them every time. Some certainly look like good set-ups.

Anyone else with thoughts on the ranging market signals?
  • #2,431
  • Mar 30, 2011 8:59am Mar 30, 2011 8:59am
Quoting jmw1970
I've been doing the same thing, looking for divergence off the bounces - but I think this is due to the fact I am used to being in the market more, I think this is something I need to remove from my mindset, the need to be in the market.

Divergence said yesterday (or early hours this morning for me) he has only had 12 trades this month - I definitely think I am overtrading (hence more losses)
100% agreed. I have been trying to tell myself that Divergence only gets 10-14 a month in the morning and i am trying to get 10-14 every second. As he has said, if you can be successful on those 10-14, you will make money.

I constantly need to tell myself to stop overtrading and walk away from the charts. It doesn't work that often. At least not yet. Working on it.
  • #2,432
  • Mar 30, 2011 9:09am Mar 30, 2011 9:09am
Quoting d4n
eu looking possible again but be wary of support
i'm out with +15 just in case support holds
  • #2,433
  • Mar 30, 2011 9:09am Mar 30, 2011 9:09am
Quoting Rcwso
100% agreed. I have been trying to tell myself that Divergence only gets 10-14 a month in the morning and i am trying to get 10-14 every second. As he has said, if you can be successful on those 10-14, you will make money.

I constantly need to tell myself to stop overtrading and walk away from the charts. It doesn't work that often. At least not yet. Working on it.
Likewise for me, I feel that I should be trading and find myself seeing things that are not there, so now I will try and sit back and wait for the propper setups.
  • #2,434
  • Mar 30, 2011 9:10am Mar 30, 2011 9:10am
Winner Winner Chicken Dinner

hope you all made some pips!!
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 29 KB
  • #2,435
  • Mar 30, 2011 9:11am Mar 30, 2011 9:11am
Nice job d4....I took the short too at 4074 (slipped me a little getting in), but bailed with only 2
  • #2,436
  • Mar 30, 2011 9:14am Mar 30, 2011 9:14am
That div 123 on the gbpusd is working out very nicely.
  • #2,437
  • Mar 30, 2011 9:15am Mar 30, 2011 9:15am
Quoting tb62
That div 123 on the gbpusd is working out very nicely.
I am in on that one as well. Looking good so far.
  • #2,438
  • Mar 30, 2011 9:29am Mar 30, 2011 9:29am
Quoting d4n
i'm out with +15 just in case support holds
target reached in the end but better safe than sorry!
  • #2,439
  • Mar 30, 2011 9:33am Mar 30, 2011 9:33am
Quoting d4n
Winner Winner Chicken Dinner

hope you all made some pips!!
Hi d4n,

great trades!

Do you only trade EU or also other pairs?

Cheers,
Olarion
  • #2,440
  • Mar 30, 2011 9:33am Mar 30, 2011 9:33am
Divergence now looking for 123
7 traders viewing now