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Igrok Method. Q's & A's. Comments, thoughts and ideas

  • #6,941
  • Edited 5:45am Aug 31, 2011 4:12am | Edited 5:45am
Trendline touch, also confluence with SR. Nice thing about it is the AWR is at 90% and price stopped a few pips off the weekly low. Intra-week 18.4?

EDIT: Ignore the pink comment, it's left there since this morning when price was much higher.

EDIT 2: Price slipped through, invalidated.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpchf.png Size: 35 KB
Trading = a mirror to your human flaws. Fix them or be fixed.
  • #6,942
  • Aug 31, 2011 11:34am Aug 31, 2011 11:34am
Quoting soso
18.4 + 3rd TL touch on EURCHF H1.

when there's also a technical reason for it it feels much better.
Right, Aediaz1 confirmed it some time later answering g_j_hook@yah

in Post #6597 (http://www.forexfactory.com/showthread.php?p=4631177#post4631177)
  • #6,943
  • Aug 31, 2011 6:31pm Aug 31, 2011 6:31pm
Quoting soso
Trendline touch, also confluence with SR. Nice thing about it is the AWR is at 90% and price stopped a few pips off the weekly low. Intra-week 18.4?

EDIT: Ignore the pink comment, it's left there since this morning when price was much higher.

EDIT 2: Price slipped through, invalidated.
Soso,

I see you are using an MT4 platform? Which broker are you using there? I ask you only because 'instantaneous' average ranges will only work properly with those brokers that have a server set to GMT +3 with MT4. I got acquainted with this issue some time ago.

Therefore, all indicators (even colored bars) that were made for MT4, will only work properly with a server GMT +3.

Even the highs/lows of a day can be 'visualy' affected by this.
  • #6,944
  • Edited 12:42am Sep 1, 2011 12:18am | Edited 12:42am
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  • #6,945
  • Sep 1, 2011 1:35am Sep 1, 2011 1:35am
Quoting wolfraider
Right, Aediaz1 confirmed it some time later answering g_j_hook@yah

in Post #6597 (http://www.forexfactory.com/showthread.php?p=4631177#post4631177)
Yeah, too bad I was taken out at BE overnight will sleeping. If not, it would have been the biggest R:R since I remember...

But it's cool though, I'd rather have risk minimized while away.
Plus, my biggest ride is still on, the triangle breakout on EURAUD H1 from August 29.

Cheers,
-soso
Trading = a mirror to your human flaws. Fix them or be fixed.
  • #6,946
  • Sep 1, 2011 1:38am Sep 1, 2011 1:38am
Quoting jupiter_peak
Soso,

I see you are using an MT4 platform? Which broker are you using there? I ask you only because 'instantaneous' average ranges will only work properly with those brokers that have a server set to GMT +3 with MT4. I got acquainted with this issue some time ago.

Therefore, all indicators (even colored bars) that were made for MT4, will only work properly with a server GMT +3.

Even the highs/lows of a day can be 'visualy' affected by this.
Hey Mauro,

I'm using FXPro demo for charting but my live account is with Oanda. FXPro is GMT+3, it closes at 17:00 NY time which is the generally accepted time as the fx "closing" time if I remember correctly.

What do you mean by 'instantaneous' average range?

Thanks,
-soso
Trading = a mirror to your human flaws. Fix them or be fixed.
  • #6,947
  • Edited 7:53am Sep 1, 2011 7:31am | Edited 7:53am
Quoting soso
Hey Mauro,

I'm using FXPro demo for charting but my live account is with Oanda. FXPro is GMT+3, it closes at 17:00 NY time which is the generally accepted time as the fx "closing" time if I remember correctly.

What do you mean by 'instantaneous' average range?

Thanks,
-soso
By instantaneous range, I mean the actual intraday (daily) at Oanda, for example, will have a different size (range) to that compared to FxPro, as well as possibly its high/low.

So the market, according to FxPro, begins/ends right at 21:00 GMT, for Oanda (feed), which uses GMT -4 (I think), will only begin its bar 7 hour later, thus having a different 'instantaneous ' high/low and range to that compared to Oanda.

So if you trade from an MT4 platform, with a GMT other than GMT +3, you are not trading the actual daily range at the right time.

As an example, for FxPro has the low set at 00:30(or 21:30 GMT) for CADJPY (second bar @ 30m chart). Any other broker that uses GMT +2, for example, would have the low set @ 00:30 (or 10:30 GMT). So if you were trading from the GMT +2 platform, you would have your SL set close to a wrong low.

This 'non functionallty' of MT4 server time, makes it INACURATE if you trade it from an MT4 platform other than GMT +3.

;-)
  • #6,948
  • Sep 1, 2011 8:12am Sep 1, 2011 8:12am
Quoting soso
Yeah, too bad I was taken out at BE overnight will sleeping. If not, it would have been the biggest R:R since I remember...

But it's cool though, I'd rather have risk minimized while away.
Plus, my biggest ride is still on, the triangle breakout on EURAUD H1 from August 29.

Cheers,
-soso
Hi,
what is your target on this?
Thanks
  • #6,949
  • Sep 1, 2011 8:14am Sep 1, 2011 8:14am
Quoting jupiter_peak
By instantaneous range, I mean the actual intraday (daily) at Oanda, for example, will have a different size (range) to that compared to FxPro, as well as possibly its high/low.

So the market, according to FxPro, begins/ends right at 21:00 GMT, for Oanda (feed), which uses GMT -4 (I think), will only begin its bar 7 hour later, thus having a different 'instantaneous ' high/low and range to that compared to Oanda.

So if you trade from an MT4 platform, with a GMT other than GMT +3, you are not trading the actual daily range at the right time.

As...

Ah yes it makes sense. I don't use Oanda at all for charting/analysis only to place trades that ar conform with the fxpro feed. Metatrader has some serious limitations and this one (with the server time) is one of them. I plan to move to another platform for analysis in the future though. Amibroker or Ninjatrader...
Trading = a mirror to your human flaws. Fix them or be fixed.
  • #6,950
  • Sep 1, 2011 8:23am Sep 1, 2011 8:23am
Quoting marcb
Hi,
what is your target on this?
Thanks
Hi, The target was 1.33. It 'was' because I closed manually today when it approached ADR 80. It is over-extended anyway, this would be the 5th bearish day in a row.
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Trading = a mirror to your human flaws. Fix them or be fixed.
  • #6,951
  • Sep 1, 2011 8:43am Sep 1, 2011 8:43am
Quoting soso
Ah yes it makes sense. I don't use Oanda at all for charting/analysis only to place trades that ar conform with the fxpro feed. Metatrader has some serious limitations and this one (with the server time) is one of them. I plan to move to another platform for analysis in the future though. Amibroker or Ninjatrader...
I know many traders have come across this issue here and I could almost bet my house, that MOST of them didn't even notice this issue.

This could/should/would SERIOUSLY compromise the 18.x templates!

One other issue I have come across during my testing were the so called 'volatility filters' that most market maker brokers use. Results of live testing on the 18.4 using a market maker differ ENORMOUSLY when compared to so called ECN brokers such as Dukascopy, MB etc.

I am not sure Oanda is an ECN or close to it. WHat is your experience on that?

I get more entry possibilities on Dukas, for example, than I get on FxPro.

Just some input from someone who dived deeply into this stuff.
  • #6,952
  • Sep 1, 2011 10:00am Sep 1, 2011 10:00am
Depending on your feed, we had 18.4 opportunities @:

CADJPY
AUDCAD
USDCAD
GBPJPY
AUDUSD
  • #6,953
  • Sep 1, 2011 10:03am Sep 1, 2011 10:03am
Quoting jupiter_peak
I am not sure Oanda is an ECN or close to it. WHat is your experience on that?
It's good enough for small/medium accounts because of the position sizing granularity. Othen than that dunno since I never traded on other brokers. But it's charting sucks big time that's for sure.
Trading = a mirror to your human flaws. Fix them or be fixed.
  • #6,954
  • Sep 1, 2011 10:23am Sep 1, 2011 10:23am
Quoting soso
It's good enough for small/medium accounts because of the position sizing granularity. Othen than that dunno since I never traded on other brokers. But it's charting sucks big time that's for sure.
It's just that, as mentioned before, lack of volatility control as well as more 'real' market quotes, work better for 18.x, as far as my testing goes.
  • #6,955
  • Sep 3, 2011 9:58am Sep 3, 2011 9:58am
Hi Mauro,
have you seen EURUSD? It has broken the lower trendline of the diamond on the daily, is it a valid break? Whatis your target?
Thanks
Marco
Quoting jupiter_peak
It's just that, as mentioned before, lack of volatility control as well as more 'real' market quotes, work better for 18.x, as far as my testing goes.
  • #6,956
  • Sep 3, 2011 10:25am Sep 3, 2011 10:25am
Quoting marcb
Hi Mauro,
have you seen EURUSD? It has broken the lower trendline of the diamond on the daily, is it a valid break? Whatis your target?
Thanks
Marco
I have no idea what u r talking about. Could you post a chart, please?
  • #6,957
  • Sep 3, 2011 12:41pm Sep 3, 2011 12:41pm
I am not sure if this is diamond but for sure at least the lower trendline has been touched three times and now it has been broken.
What do you think?

http://imageshack.us/photo/my-images/402/unledkid.jpg/




Quoting jupiter_peak
I have no idea what u r talking about. Could you post a chart, please?
  • #6,958
  • Sep 3, 2011 1:08pm Sep 3, 2011 1:08pm
Quoting marcb
I am not sure if this is diamond but for sure at least the lower trendline has been touched three times and now it has been broken.
What do you think?

http://imageshack.us/photo/my-images/402/unledkid.jpg/

that is not a diamond..its kind of an insult to formation as its regarded a pretty rare
  • #6,959
  • Sep 3, 2011 1:17pm Sep 3, 2011 1:17pm
Quoting marcb
I am not sure if this is diamond but for sure at least the lower trendline has been touched three times and now it has been broken.
What do you think?

http://imageshack.us/photo/my-images/402/unledkid.jpg/
Sorry. Not even close to a diamond. Just look at your right side upper border for example. Not even close to trend line. However, that TL break could have been traded as a 20.6 template.

Right now I see price descending in a channel.

As I have posted before, we could be in the process of forming a diamond. Lets wait and see if we get a bounce north @ around 1.3940-1.3970 throwing it back up to around 1.43 and going down breaking the formation south towards the 1.36 level initially.
  • #6,960
  • Sep 3, 2011 2:13pm Sep 3, 2011 2:13pm
Thank for the reply, can you post a graph?
Quoting jupiter_peak
Sorry. Not even close to a diamond. Just look at your right side upper border for example. Not even close to trend line. However, that TL break could have been traded as a 20.6 template.

Right now I see price descending in a channel.

As I have posted before, we could be in the process of forming a diamond. Lets wait and see if we get a bounce north @ around 1.3940-1.3970 throwing it back up to around 1.43 and going down breaking the formation south towards the 1.36 level initially.
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