Hi LG, Still really battling to get this right. Can you tell me how many pairs you have on your watch list? I have all the majors and then some, all in all about 22 charts. At GMT +2 I go through all the charts and many of them have already closed above/below the SR lines. Those that have , I go to the M15 chart and see if there is a candle which is closed completly free of the line. If so I take the trade if the RSI for H1 is pointing in the same direction as I wish to trade. I then spend the rest of the day looking for similar setups. Most of the time I am stopped out. What am I doing wrong? And what signs do you look for when you reverse your long trade to follow it down again? Ialso have difficulty choosing where to place my stops and also knowing how many pips to target.
Sorry to be such a pain.
Can you tell me if it is too late to short the audjpy right now? The H1 hasnt closed yet but the M15 candles are well on their way free of the sr
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Sure, why not? It has had a few bad days, weeks, months even, are you feeling lucky?
Just kidding, it is past London Close.... this system is well past taking trades; what does your trading plan include? Any of the following?
Successful Forex Trading is a Combination of:
• Developing a trading plan that provides clear, objective rules for all aspects of your trading business. • Having a definite money management program that goes beyond your stops and targets on each trade. • Evaluating the energies present in the market through the application of technical analysis. • Being disciplined to wait for a low-risk, high probability situation, and to trade your plan without deviation. • Executing trades in a skilful manner. Risk control and stand aside rules for special conditions.
Sure, why not? It has had a few bad days, weeks, months even, are you feeling lucky?
Just kidding, it is past London Close.... this system is well past taking trades; what does your trading plan include? Any of the following?
Successful Forex Trading is a Combination of:
• Developing a trading plan that provides clear, objective rules for all aspects of your trading business.
[font=Arial]
[size=3]• Having a definite money management program that goes beyond your...
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Thanks for your reply. I must say I do not have a proper plan. I will have to spend some time developing one. I have read a lot about developing a plan but it is a lot easier said than done!! Thanks again
Hi LG, Still really battling to get this right. Can you tell me how many pairs you have on your watch list? I have all the majors and then some, all in all about 22 charts. At GMT +2 I go through all the charts and many of them have already closed above/below the SR lines. Those that have , I go to the M15 chart and see if there is a candle which is closed completly free of the line. If so I take the trade if the RSI for H1 is pointing in the same direction as I wish to trade. I then spend the rest of the day looking for similar setups. Most of...
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It is a constant battle to get trading right and it will never be 100%, degournay. I watch the 22 pairs too. I do a quick scan every few hours as I have time. I make note of the pairs that are nearing a S/R line as marked during the first 4 candles and will come back to those pairs watching PA as well as the RSIs.
H1 BOs are PA trades and not necessarily trend trades. For now, take only those those trades that have confirming H4 RSI directions.
I am not going to be able to help you much beyond this. I have said many times: this is not a beginners strategy and it sounds as if you need some basic refreshers. I highly recommend www.babypips.com.
Have you checked Post #1, or the "paperclip" icon at top right of this thread?
All previous attachements are there and I'm sure that has been posted many, many times!
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Hi Callisto, yes I have checked it many times, no luck. Please, if you know the name of the indi it will save me time downloading indicators without knowing how they look like. I wouldn't have asked if I had not tried to look for it before without success
Thanks
Max
Hi Callisto, yes I have checked it many times, no luck. Please, if you know the name of the indi it will save me time downloading indicators without knowing how they look like. I wouldn't have asked if I had not tried to look for it before without success
Thanks
Max
Hi Callisto, yes I have checked it many times, no luck. Please, if you know the name of the indi it will save me time downloading indicators without knowing how they look like. I wouldn't have asked if I had not tried to look for it before without success
Thanks
Max
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Well, here's the thing, I'm not sure that you did, because in Post #1 it clearly says, at #4 - RSI Arrow Indicators with a link to exactly where to find it with an excellent description, be worth going back just to read that - it Post #2399
And if you checked the attachments, the name Lawgirl in a few of those didn't ring a bell?
It is a constant battle to get trading right and it will never be 100%, degournay. I watch the 22 pairs too. I do a quick scan every few hours as I have time. I make note of the pairs that are nearing a S/R line as marked during the first 4 candles and will come back to those pairs watching PA as well as the RSIs.
H1 BOs are PA trades and not necessarily trend trades. For now, take only those those trades that have confirming H4 RSI directions.
I am not going to be able to help you much beyond this. I have said many times: this is not a...
Thank you LawGirl. I had this one, but I though it was not the right one, since it gives an error message when I try to switch rsi indicator on true.
The message says: "RSI window name is wrong"
Not a big deal of course, I can load rsi from the list of indicators without problem.
Thanks
Max
Thank you LawGirl. I had this one, but I though it was not the right one, since it gives an error message when I try to switch rsi indicator on true.
The message says: "RSI window name is wrong"
Not a big deal of course, I can load rsi from the list of indicators without problem.
Thanks
Max
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If it is wrong, then make it right!
From post #2399
"There's a true/false statement if you want to see the indicator placed in your RSI window (upper right) and a user choice to enter the name of the RSI that they are using, if it's different that the standard RSI(3)...so, if you have your RSI value set to 7 or something other than 3 you will need to change this in the user dialog. You must have a RSI window for this option to work."
Trade What You See - Almost Naked Trading
