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Forex Day Trading

  • #141
  • Aug 20, 2011 9:37am Aug 20, 2011 9:37am
Quoting nbafx
is this RN indy available free in net? in ff? or where can i buy?

cheers
Hi nba,

Give this link a try, I have not tried this one out before but let me know how it goes. If it doesnt work as you need I will see if I can help you find one.

http://www.35pip.com/metatrader-indi...d-builder-mq4/

Cheers.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #142
  • Aug 20, 2011 10:10am Aug 20, 2011 10:10am
Quoting DarkWolF
Hi nba,

Give this link a try, I have not tried this one out before but let me know how it goes. If it doesnt work as you need I will see if I can help you find one.

http://www.35pip.com/metatrader-indi...d-builder-mq4/

Cheers.
ok. will try it out. thx.
  • #143
  • Aug 21, 2011 4:50am Aug 21, 2011 4:50am
Quoting nbafx
dw, have a nice trip over the weekend.

oh, one trade i took on a-j... after observing the bearish engulfing candle + following the downtrend.

my problem always is whether to set RR 1:1 or 1:2? any advise is welcome.

have a gr8 weekend to all
Hey,

Im still in on the USD JPY, I expect a bit of correlation, so I guess we are in this together.

Ill update when I have some news.
Ask me again when I know what I'm talking about.
  • #144
  • Aug 21, 2011 7:54am Aug 21, 2011 7:54am
Quoting Loooit
Hey,

Im still in on the USD JPY, I expect a bit of correlation, so I guess we are in this together.

Ill update when I have some news.
ok.

however i see no sign to go short on daily chart, except the weekly candle closed below previous week but just stopped above the "low" of the long lower tail of 13-march-2011 candle... imho

i am monitoring it closely

cheers
Attached Image (click to enlarge)
Click to Enlarge Name: uj.gif Size: 18 KB
  • #145
  • Aug 21, 2011 8:21pm Aug 21, 2011 8:21pm
Quoting nbafx
ok.

however i see no sign to go short on daily chart, except the weekly candle closed below previous week but just stopped above the "low" of the long lower tail of 13-march-2011 candle... imho

i am monitoring it closely

cheers
Yes,

I see what you mean, also on the 4H there is now opposing pins.

I got in on the first pin on the 4H, started off nicely for me but seemingly not any more.

Not sure what to do, Then it also gapped up when the session restarted. Sticking to the plan of letting the trade play itself out, not modifying unless there is some profit, in which case I will be taking it at a predetermined level.

Cheers,
Ask me again when I know what I'm talking about.
  • #146
  • Aug 21, 2011 11:10pm Aug 21, 2011 11:10pm
Quoting Loooit
Yes,

I see what you mean, also on the 4H there is now opposing pins.

I got in on the first pin on the 4H, started off nicely for me but seemingly not any more.

Not sure what to do, Then it also gapped up when the session restarted. Sticking to the plan of letting the trade play itself out, not modifying unless there is some profit, in which case I will be taking it at a predetermined level.

Cheers,
Price moved about 40 Pips in the space of 5 minutes to take me out....

Loss, 70 pips... sad story

USDJPY

Sometimes trades dont work out.
Ask me again when I know what I'm talking about.
  • #147
  • Aug 21, 2011 11:20pm Aug 21, 2011 11:20pm
Quoting nbafx
dw, have a nice trip over the weekend.

oh, one trade i took on a-j... after observing the bearish engulfing candle + following the downtrend.

my problem always is whether to set RR 1:1 or 1:2? any advise is welcome.

have a gr8 weekend to all
Hey,

I might hop in with you on this one.

See the 4H (with entry order)

and Daily (without entry order)

Continuing with the Bearish Bias.

Basis, Down trend and price action.

Lets see how it goes.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: audjpy.gif Size: 23 KB
Click to Enlarge Name: audjpy4h.gif Size: 23 KB
Ask me again when I know what I'm talking about.
  • #148
  • Aug 22, 2011 3:59am Aug 22, 2011 3:59am
Hi guys,

Hope you had a good weekend. Just loading up my charts to see what this Monday has to offer.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #149
  • Aug 22, 2011 4:23am Aug 22, 2011 4:23am
Short EU on 5 min chart at 1.44114

SL at 1.44200

A little bit against the move but see how I go.
Attached Image (click to enlarge)
Click to Enlarge Name: eu1.jpg Size: 79 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #150
  • Aug 22, 2011 4:29am Aug 22, 2011 4:29am
Previous hourly candle was a bit of an indecision bar and at a bit of a flip zone, so what Im looking for is a small move back down.
Attached Image (click to enlarge)
Click to Enlarge Name: 1.jpg Size: 101 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #151
  • Aug 22, 2011 5:04am Aug 22, 2011 5:04am
Quoting DarkWolF
Short EU on 5 min chart at 1.44114

SL at 1.44200

A little bit against the move but see how I go.
Closed this one for +10 pips at the Round Number area. Good chance it may go lower but im happy with that for now.

Now to sit back and wait for next opportunity.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu1.jpg Size: 79 KB
Click to Enlarge Name: eu2.jpg Size: 73 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #152
  • Aug 22, 2011 5:08am Aug 22, 2011 5:08am
New 4 hourly bar has opened but nothing is catching my eye as yet across the pairs.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #153
  • Aug 22, 2011 5:10am Aug 22, 2011 5:10am
Quoting nbafx
ok. will try it out. thx.
Hi nba,

How did you go with that indi did it do what you needed it to do ?

Cheers.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #154
  • Aug 22, 2011 5:18am Aug 22, 2011 5:18am
Quoting DarkWolF
New 4 hourly bar has opened but nothing is catching my eye as yet across the pairs.
Keeping an eye on AUDNZD
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #155
  • Aug 22, 2011 5:28am Aug 22, 2011 5:28am
Quoting DarkWolF
New 4 hourly bar has opened but nothing is catching my eye as yet across the pairs.
EU has a nice bullish engulfing bar present at the moment.
  • #156
  • Aug 22, 2011 5:48am Aug 22, 2011 5:48am
Quoting Musashi
EU has a nice bullish engulfing bar present at the moment.
Indeed it does, and probably no surprise we have seen price shoot up bounced nicely off the 1.44000 round number.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #157
  • Aug 22, 2011 7:04am Aug 22, 2011 7:04am
Quoting DarkWolF
Keeping an eye on AUDNZD
Short entry triggered on AUDNZD 4 hourly.
Attached Image (click to enlarge)
Click to Enlarge Name: audnzd 4 hourly.jpg Size: 76 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #158
  • Aug 22, 2011 8:17am Aug 22, 2011 8:17am
Quoting DarkWolF
Hi nba,

How did you go with that indi did it do what you needed it to do ?

Cheers.
i think it is good to use in the lower time frame for 50's or 100's RN. I put it into the H1/H4/Daily, it looked messy and so i removed it. fyi i am not good at the lower time trading thx anyway cheers
  • #159
  • Aug 22, 2011 8:25am Aug 22, 2011 8:25am
Quoting DarkWolF
Short entry triggered on AUDNZD 4 hourly.
nice
u short at the confluence spots
what is your RR then?
  • #160
  • Aug 22, 2011 8:26am Aug 22, 2011 8:26am
Quoting nbafx
i think it is good to use in the lower time frame for 50's or 100's RN. I put it into the H1/H4/Daily, it looked messy and so i removed it. fyi i am not good at the lower time trading thx anyway cheers
Ya' anything higher than the 1 hour charts and it is quite messy. Messy charts are one thing I dont like, I like to keep my charts pretty simple and free from clutter that can be created by too many indicators. Indicators simply follow PRICE. So in my opinion price is the best indication of potential market movement.

It is mainly my 5 min charting that I use that particular indi for.

Lower TF trading is essentially the same as the higher TF you just need to have the discipline to get in and then out at your set targets. Keep your targets smaller for the lower TF trading and do not let greed influence your decisions.

However it is definately a lot more choppy on the lower TF and the signals given on higher TF can be a lot more reliable.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
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