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james16 Chart Thread
- #97,122
- Jun 22, 2011 4:26pm Jun 22, 2011 4:26pm
- Joined Jan 2006 | Status: Monarch o' the Glen | 5,561 Posts
Hi Morainer, ...
Now in Forex we do not have this set value for a pip, it could be whatever you want. That means if you have 200 pips SL you can still make it $10 worth of money if you want so.
...
I just wanted to add...
IF you are Trading Crosses, The Value of a Pip (No matter what size your Trade is, 1.0 or 0.1) The Pip Value is in a constant state of flux.
eg; according to the posted image...
If I was looking at Trading the AUDNZD #11
It would cost me USD$162.87 just to enter.
Right now I don't care about that. All I want to know is... How Much is A Pip Worth?
Depends on how the NZD & AUS are doing against the USD.
If the AUS is Strong against USD & the NZD is Weak against USD then the Pip Value will Increase.
Image posted is Snap of Dynamic XL sheet I have. It has Macros & so I am reluctant to post it as an XL File
There is a Bemac MT4 Indy that gives some of the same info.
TL Corner of Image {Option to pick a corner coded in.}
Attachment
Bill
an outside bar that straddles a brn or a lrn and a ton of past s/r and gives you a pullback to that brn/lrn/s/r might be the best set up you will ever find looking at a chart.
get good at that one set up and become ultra patient and you got a set of keys that fits the ignition. its a winning lottery ticket and i dont say stuff like that very often.
lets have some fun and everyone post a chart of that set up on say 4 hour and over.
go find one.
jim
next time if i see such,i try these
- #97,128
- Jun 22, 2011 8:02pm Jun 22, 2011 8:02pm
- Joined Jan 2006 | Status: Monarch o' the Glen | 5,561 Posts
Hi B, thanks for your indicator, Ive been trying to find that for a long time
I always felt it was important Info & should be close at hand.
B
- #97,129
- Jun 22, 2011 8:15pm Jun 22, 2011 8:15pm
an outside bar that straddles a brn or a lrn and a ton of past s/r and gives you a pullback to that brn/lrn/s/r might be the best set up you will ever find looking at a chart.
get good at that one set up and become ultra patient and you got a set of keys that fits the ignition. its a winning lottery ticket and i dont say stuff like that very often.
lets have some fun and everyone post a chart of that set up on say 4 hour and over.
go find one.
jim
I have seen the enemy, and it is me.
- #97,130
- Jun 22, 2011 8:30pm Jun 22, 2011 8:30pm
- Joined Jan 2006 | Status: Monarch o' the Glen | 5,561 Posts
Allrighty sir!! This really puts the mood back into trading
Study & Patience will revolve that situation.
B
Tried daytrading off the 8hr BEOB on Eur/Usd. Set my target tight and come back from taking my family to dinner to see it closed already.
Liked the previous resistance around the 1.4400.
Not much but it's adding up...
Hey thats pretty good Slade. I love trading the EURUSD as it trends really well.
I was actually in a buy move as I thought that it was going to break the resistance line at around 1.44250 but it turned and ran my stop down. So instead I short entered on the diagonal trend resistance which just hapend to be right on another major S/R level 1.43400 which is proving to offer resistance the the trend and is proving my move correct for now a break even.
I think this will continue to the 1.40600 level eventually in the next 5/6 trading days. It may yet reverse if the minor resistance lines are tested and especially the 1.42130 area as it also corresponds to the Fib 61.8%. But I will hold with my brass balls and see how it goes.
Hopefully this will be a new low since back in May and if so this month will be an easy and stress free win, after all the breathless moments in between!
- #97,132
- Jun 22, 2011 8:37pm Jun 22, 2011 8:37pm
- | Joined Jul 2010 | Status: MAKE IT HAPPEN | 2,220 Posts
- #97,134
- Jun 22, 2011 9:45pm Jun 22, 2011 9:45pm
HEY Jey. "Overworked & UnderPipped" is a perfect place To Start.
Study & Patience will revolve that situation.
B
I have seen the enemy, and it is me.
- #97,138
- Jun 22, 2011 11:44pm Jun 22, 2011 11:44pm
- | Joined Mar 2008 | Status: shoe shine boy | 1,146 Posts
