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  • #417,581
  • Apr 4, 2011 2:54pm Apr 4, 2011 2:54pm
Quoting Magix
If you only trade the hourly and don't watch the lower time frames the what information are you drawing this off of?





Or were you just looking for some attention?

just makes you look like an idiot with contradictory statements with zero knowledge to back up an arguement...

Enjoy Close of NY guys...nap time for me...

I would have thought you just got out of bed, sound like a bear with a sore head
rat
  • #417,582
  • Apr 4, 2011 2:56pm Apr 4, 2011 2:56pm
watch out when it gets out of bed.
rat
  • #417,583
  • Apr 4, 2011 2:58pm Apr 4, 2011 2:58pm
Quoting attila
Attachment
It always helps to know the timeframe of charts that are posted (if screen pic doesn't already show it).
  • #417,584
  • Apr 4, 2011 3:02pm Apr 4, 2011 3:02pm
Quoting kaspopsicle
Price respecting and being attracted to moving average even better....

The 200ema is a stunning indicator of S/R......

Especially lower time frames.
On my M5 chart for instance I see examples of where it is and examples of where it isn't. Same as many other numbers.
  • #417,585
  • Apr 4, 2011 3:03pm Apr 4, 2011 3:03pm
Quoting Ineedpips9
Gotcha. When I have all day to trade I usually go for 10-pip runs, then wind up a little mad when I see I could've avoided paying the spread 3-5 times,but owell.
I do enjoy the 20 crossing the 200 on the other days. I set the tp for 30 because I'm usually out of the house before the economic news comes out and in this environment I know I'd be worried out my mind all day not knowing what has happened.
good stuff as alway magix.
Just wondering, what template is that with your volume setup? I'm trying to figure what settings I should be using on...
I dont have this template posted, just the one that my charts were on when I was responding.

The volume indicator is the HG 5b, default settings.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #417,586
  • Apr 4, 2011 3:05pm Apr 4, 2011 3:05pm
Rattyo, if you don't mind me asking, what do you use to trade if you don't use ma's?
I see that you only use the higher tf, so how do you choose your entry/exits?
Not judging, it just seems to me if you only use the 1h or higher, you would experience huge drawdowns.But if you are a swinger I guess that is the norm,from what I've read anyways.
Just looking for more information because to make a statement like " moving averages on anything lower than 1hr chart don't work too well" is a pretty grand and bold statement.
  • #417,587
  • Apr 4, 2011 3:06pm Apr 4, 2011 3:06pm
Quoting SunTrader
It always helps to know the timeframe of charts that are posted (if screen pic doesn't already show it).
we'll do next time. thanks.
  • #417,588
  • Apr 4, 2011 3:06pm Apr 4, 2011 3:06pm
Quoting SunTrader
It always helps to know the timeframe of charts that are posted (if screen pic doesn't already show it).
I find it helps more to read the chart ...including reading what time frame it would be by comparing with your own.
Thats if you havnt got the picture of PA in your mind so youu know at a glance what time frame the trader has posted.
I've found this process very useful and continue to practise at every opportunity.
All systems of divination, like music itself,work through patterns.
  • #417,589
  • Apr 4, 2011 3:07pm Apr 4, 2011 3:07pm
Quoting Magix
I dont have this template posted, just the one that my charts were on when I was responding.

The volume indicator is the HG 5b, default settings.
gotcha.thanks.
  • #417,590
  • Apr 4, 2011 3:07pm Apr 4, 2011 3:07pm
Quoting SunTrader
On my M5 chart for instance I see examples of where it is and examples of where it isn't. Same as many other numbers.
For this reason, you have the ability to toggle time frames. If 200 support is lost on the 5, next support is on the 15...

Trading through the different time frames can give you the greatest understanding of the daily movement.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #417,591
  • Apr 4, 2011 3:08pm Apr 4, 2011 3:08pm
wsup guys? a big move down;]
Attached Image (click to enlarge)
Click to Enlarge Name: untitled.jpg Size: 72 KB
  • #417,592
  • Apr 4, 2011 3:11pm Apr 4, 2011 3:11pm
Quoting Ineedpips9
Rattyo, if you don't mind me asking, what do you use to trade if you don't use ma's?
I see that you only use the higher tf, so how do you choose your entry/exits?
Not judging, it just seems to me if you only use the 1h or higher, you would experience huge drawdowns.But if you are a swinger I guess that is the norm,from what I've read anyways.
Just looking for more information because to make a statement like " moving averages on anything lower than 1hr chart don't work too well" is a pretty grand and bold statement.
Naw, not really. Well, kind of. Daily chart trades I will allow a draw down of 100-150 pips before it becomes time to start closing it out. However, there is a lot less leverage. More often then not though, it's more like a 50 pip draw down, and most often a 20 pipper. You do have to give it more room to breathe, but like I said just handle it through less leverage.

I will admit I am very when it comes to the dailies. I've caught solid entries, only to watch price go 200-300 pips where I got all scared and closed it out around 80-100 lol. Also, no stops on daily chart trades. A full ADR move against you shouldn't even make you blink. hah. Although, annoyance could be had.

Price behaves generally the same on all time frames. If you get solid entries on the 5m... you will be able to do the same on the daily/weekly. Just include a multiple factor in your allowed draw down. For example, I allow a 10 pip drawdown before cutting the order on the 5m... 100 pip on the daily. It's all relative really.
  • #417,593
  • Apr 4, 2011 3:14pm Apr 4, 2011 3:14pm
Quoting Venice
Naw, not really. Well, kind of. Daily chart trades I will allow a draw down of 100-150 pips before it becomes time to start closing it out. However, there is a lot less leverage. More often then not though, it's more like a 50 pip draw down, and most often a 20 pipper. You do have to give it more room to breathe, but like I said just handle it through less leverage.

I will admit I am very when it comes to the dailies. I've caught solid entries, only to watch price go 200-300 pips where I got all scared and closed it out around 80-100...
Daily chart trading is something that makes you master your patience, something I struggle with. It's why I enjoy the 5m charts... It would be nice to close out a 300-500 pipper every so often though. lol
  • #417,594
  • Apr 4, 2011 3:15pm Apr 4, 2011 3:15pm
Quoting SunTrader
On my M5 chart for instance I see examples of where it is and examples of where it isn't. Same as many other numbers.
interesting. I see that if i had traded using the same strategy as i do with cable (taking trades when the 24 crosses the 200) there were at least 6 different 10+pip trades available, and I could've saved myself alot of headache.
To each his own. There's more than one way to skin a cat.
Besides, your in Boca Raton, you should be out enjoying the beach before it gets too hot.
  • #417,595
  • Apr 4, 2011 3:16pm Apr 4, 2011 3:16pm
Oh, Forex. I hate you so much...
Attached Image
  • #417,596
  • Apr 4, 2011 3:16pm Apr 4, 2011 3:16pm
Quoting SunTrader
On my M5 chart for instance I see examples of where it is and examples of where it isn't. Same as many other numbers.
Sorry you lost me there.
All systems of divination, like music itself,work through patterns.
  • #417,597
  • Apr 4, 2011 3:17pm Apr 4, 2011 3:17pm
Quoting attila
wrong file. took it here.

Attachment
closed that for a couple. very annoying. i'll be back for the Nipponese.
  • #417,598
  • Apr 4, 2011 3:18pm Apr 4, 2011 3:18pm
Steve Nison - Candle Charting Essentials and Beyond

This guy explained a lot of his trading style.
  • #417,599
  • Apr 4, 2011 3:18pm Apr 4, 2011 3:18pm
Quoting FishHead
Oh, Forex. I hate you so much...
Green line TP?
  • #417,600
  • Apr 4, 2011 3:24pm Apr 4, 2011 3:24pm
Quoting kaspopsicle
I find it helps more to read the chart ...including reading what time frame it would be by comparing with your own.
Oh I can figure it out alright but isn't a lot simpler to just say so in the post as attilla said he would keep it in mind in the future than to guess. No?
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