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Kevinator 5m retracement-Live trading

  • #1,761
  • Jun 23, 2011 4:06am Jun 23, 2011 4:06am
Quoting turboguru
Without the Indicators this is what it looks like to me and the H4 Stoch is still down. Have to run to work will explain if any questions when I get back. Good pips to all.
this is a perfect example of a trader that is lost in threads...

this chart and post is irrelevant to this thread..
i am not going to even explain it.

don't be offended but you left me no choice..
  • #1,762
  • Jun 23, 2011 4:07am Jun 23, 2011 4:07am
Looks like a bear flag to me.
Attached Image
  • #1,763
  • Jun 23, 2011 4:19am Jun 23, 2011 4:19am


Thanks Kevinator!!!
Attached Images
  • #1,764
  • Jun 23, 2011 4:24am Jun 23, 2011 4:24am
AUDUSD - Sell trade

Slightly risky as the price only just retraced to the mid-band which meant entry after the band, but as both stochs were in alignment I decided to take the risk, however initial TP is not at the lower band as normal, but the previous swing low
Attached Image
  • #1,765
  • Jun 23, 2011 4:30am Jun 23, 2011 4:30am
just sold eur gbp 4 hr down, returning from crossing the upper tma line we shall see fingers crossed

http://i52.tinypic.com/e6prfn.jpg
  • #1,766
  • Jun 23, 2011 4:38am Jun 23, 2011 4:38am
Quoting deankenny21
just sold eur gbp 4 hr down, returning from crossing the upper tma line we shall see fingers crossed
nice one!
  • #1,767
  • Jun 23, 2011 4:39am Jun 23, 2011 4:39am
Just like to say that this thread / strat has helped me no end
its made me really learn to read PA S/R in conjunstion with the strategy
One of the best things I did was to have a real account but keep my lots very low whilst I was learning
Then you have to immerse yourself in the market and experience ranging, reversing, trending, finding hot pairs ie weakest and strongest
wathcing different TF's for entry
and most of all - WHEN NOT TO TRADE
By having a reall account the thought of losing dosh? be it just a dollar ago really makes you learn strategy and forex in general
I relaized the losses made me keep on and readdress my problems like why did it go wrong ? , what did I do wrong

PLEASE if you really want to learn Forex open a live account and use 0.01 lots

You will see
PS im in a nice MOM on EG at the moment
  • #1,768
  • Jun 23, 2011 4:44am Jun 23, 2011 4:44am
Quoting peterporter
Just like to say that this thread / strat has helped me no end
its made me really learn to read PA S/R in conjunstion with the strategy
One of the best things I did was to have a real account but keep my lots very low whilst I was learning
Then you have to immerse yourself in the market and experience ranging, reversing, trending, finding hot pairs ie weakest and strongest
wathcing different TF's for entry
and most of all - WHEN NOT TO TRADE
By having a reall account the thought of losing dosh? be it just a dollar ago really makes you learn strategy...
wow finally, someone who thinks just like me, endless times i been on demos and tripled them in a week. go on live and i lose!!
Demos are for FUN only i say. I would not really use them to learn if your thinking about real trading.

Its only since i opened a very small account with $400 measly dollars trading at a minute 0.01 lots, when i lose its not much, but its still real money, so i feel the emotions, and after time was able to control them, and this is only with a real live account, my account now stands on over $600. I will never touch demo again, my demo is trading at the smallest lot size, you will not feel or control your emotions with a demo. My 2 cents

in the meantime im enjoying my eurgbp short
  • #1,769
  • Jun 23, 2011 4:46am Jun 23, 2011 4:46am
Quoting deankenny21
just sold eur gbp 4 hr down, returning from crossing the upper tma line we shall see fingers crossed

http://i52.tinypic.com/e6prfn.jpg
im out of this for +15 pips after touching the lower TMA, it just feels too easy sometimes, i feel wrong, like im breaking the law haha
  • #1,770
  • Jun 23, 2011 4:48am Jun 23, 2011 4:48am
AUDUSD + 12.6

for entry see http://www.forexfactory.com/showthre...=1#post4719058

Price passed my initial TP so SL moved to TP and left to run, SL hit
Attached Image
  • #1,771
  • Jun 23, 2011 4:52am Jun 23, 2011 4:52am
Quoting jmw1970
AUDUSD + 12.6

for entry see http://www.forexfactory.com/showthre...=1#post4719058

Price passed my initial TP so SL moved to TP and left to run, SL hit
good pipping, lets keep scanning
  • #1,772
  • Jun 23, 2011 4:57am Jun 23, 2011 4:57am
If any of you use scripts to set your buy or sell and are MQL savvy you can put this in your script to save a screenshot at time of entry in the experts/files dir

if (TakeScreenShot == true)
if(!WindowScreenShot(StringConcatenate(NAME + "-" + Symbol(),"-",Period(),"-",TimeToStr(TimeCurrent(),TIME_DATE),"-",Hour(),"H",Minute(),".gif"),size_x,size_y))
Print(GetLastError());

and declare your variables

extern bool TakeScreenShot = true;
extern int size_x = 1280;
extern int size_y = 720;

Please dont ask for my script as its not mine and I dont want to release it due to copyright

also set your scripts up as hotkeys ie ALT B buy ALT S sell
  • #1,773
  • Jun 23, 2011 4:57am Jun 23, 2011 4:57am
To you too, I see from your post a few minutes ago.

I am glad to see that you are now able to take the correct entries.

Very shortly you will be able to anticipate the entries and not need to worry so much about where the PA is in relation to the bands and RF finder but don't worry about that for now.

What you need to remember is that 99.9 % of indicators (the only exclusion being indicators dealing with volume only) is only showing you PA but in a slightly different way, after a while your brain will automatically see what the indicator will do based purely on what you are seeing in terms of PA.



Quoting deankenny21
good pipping, lets keep scanning
  • #1,774
  • Jun 23, 2011 5:00am Jun 23, 2011 5:00am
Kevin has gone from this thread?
  • #1,775
  • Jun 23, 2011 5:03am Jun 23, 2011 5:03am
Quoting jmw1970
To you too, I see from your post a few minutes ago.

I am glad to see that you are now able to take the correct entries.

Very shortly you will be able to anticipate the entries and not need to worry so much about where the PA is in relation to the bands and RF finder but don't worry about that for now.

What you need to remember is that 99.9 % of indicators (the only exclusion being indicators dealing with volume only) is only showing you PA but in a slightly different way, after a while your brain will automatically see what the indicator will...
yea cheers dude,
im still getting mixed results on 60min trades i take.
eg, eurusd live pic below, 60 mins is up, rf looking to go up anytime soon, but 4 hr down, would you buy this if rf points up?

http://i51.tinypic.com/2u3zf40.jpg
  • #1,776
  • Jun 23, 2011 5:08am Jun 23, 2011 5:08am
I personally wouldnt

the 60 min trades are better in a ranging market (like early yesterday), when visually you can see a clear downtrend in recent PA (and if you look it generally just bounces of the Mid TMA and back down) the 60m trades can wipe you out

my AUDUSD trade was such an example, trend was clearly down (not only just because 4h stoch but visually) the retraces went only back to the mid line, so I took a calculated risk on a short when it was passed the mid-line, but ignored the possible 60m long

Quoting deankenny21
yea cheers dude,
im still getting mixed results on 60min trades i take.
eg, eurusd live pic below, 60 mins is up, rf looking to go up anytime soon, but 4 hr down, would you buy this if rf points up?
  • #1,777
  • Edited 5:28am Jun 23, 2011 5:11am | Edited 5:28am
Quoting jmw1970
To you too, I see from your post a few minutes ago.

I am glad to see that you are now able to take the correct entries.

Very shortly you will be able to anticipate the entries and not need to worry so much about where the PA is in relation to the bands and RF finder but don't worry about that for now.

What you need to remember is that 99.9 % of indicators (the only exclusion being indicators dealing with volume only) is only showing you PA but in a slightly different way, after a while your brain will automatically see what the indicator will...
This is true
you can get away with just pivot level/ round number indie and maybe a moving average

Ill tell everyone something else

Have you ever noticed that you see a candle making new ground , like it looks like a cert to be continuing only for it to reverse the second you trade and you start to think the whole fx world is against you and is telling you not to do this?????

Does anyone know why this happens??
  • #1,778
  • Jun 23, 2011 5:12am Jun 23, 2011 5:12am
Quoting jmw1970
I personally wouldnt

the 60 min trades are better in a ranging market (like early yesterday), when visually you can see a clear downtrend in recent PA (and if you look it generally just bounces of the Mid TMA and back down) the 60m trades can wipe you out

my AUDUSD trade was such an example, trend was clearly down (not only just because 4h stoch but visually) the retraces went only back to the mid line, so I took a calculated risk on a short when it was passed the mid-line, but ignored the possible 60m long
so basically if you can see a clear downtrend visually, ie all tmas sloping down somewhat, and you get a long signal on the 60min stoch and rf goes up, you would not take this trade?
  • #1,779
  • Jun 23, 2011 5:33am Jun 23, 2011 5:33am
personally NO, when there is a clear trend defined, I would not try to trade the retraces

when the the market is rangebound (and with enough distance in the range) then yes I will happily take trades bouncing between the bands (ie. the short term ones)

otherwise no

Now I may not take as many trades as other people but I have a very high win/loss ratio.



Quoting deankenny21
so basically if you can see a clear downtrend visually, ie all tmas sloping down somewhat, and you get a long signal on the 60min stoch and rf goes up, you would not take this trade?
  • #1,780
  • Jun 23, 2011 5:37am Jun 23, 2011 5:37am
it depends a lot on your broker, however a lot of brokers hedge the clients trades, so you (and numerous other people enter a sell at roughly the same price) the broker then will often hedge the combined total of the lots with a buy sending your order into reverse


Quoting peterporter
This is true
you can get away with just pivot level/ round number indie and maybe a moving average

Ill tell everyone something else

Have you ever noticed that you see a candle making new ground , like it looks like a cert to be continuing only for it to reverse the second you trade and you start to think the whole fx world is against you and is telling you not to do this?????

Does anyone know why this happens??
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