DislikedHey S
I highly recommend to just starting going through the first few hundred pages, things will get much much more clear as you work through charts, and questions of others. Be sure to check out all the great links James put on post 1 which also contain a ton of great posts that we wanted to book mark.
This may help you as well to supplement as you go through
http://www.forexfactory.com/showpost...ostcount=93498
Hope that helps
MikeIgnored
james16 Chart Thread
To see it develop like this in real time ... priceless. Another 10 experience points in the bank
- #104,283
- Nov 12, 2011 3:44pm Nov 12, 2011 3:44pm
- Joined Jan 2006 | Status: Monarch o' the Glen | 5,561 Posts
- #104,284
- Nov 12, 2011 3:52pm Nov 12, 2011 3:52pm
- Joined Feb 2009 | Status: kiki soso largyalo | 2,243 Posts
meine augen sind die sterne
- #104,285
- Nov 12, 2011 4:08pm Nov 12, 2011 4:08pm
- Joined Jan 2006 | Status: Monarch o' the Glen | 5,561 Posts
honestly, i don't use it. it just put it "on the chart" someday and didn't remobed it. anyway, it is only the rsi, isn't it? so it could be used for divergence, right?
That's cool... we all need more time for housekeeping AND When we get the time than by the lord harry we must..... Yeah right...Perhaps I can offer another use of that screenspace. Particularly if you are not utilizing it.
CAREFULL:
My Params change depending on TimeFrame of the Chart!
This is not a Drag & Play Indicator.
I use (surprise surprise) it differently.
B
- #104,286
- Nov 12, 2011 4:16pm Nov 12, 2011 4:16pm
- Joined Feb 2009 | Status: kiki soso largyalo | 2,243 Posts
Perhaps I can offer another use of that screenspace. Particularly if you are not utilizing it.
CAREFULL:
My Params change depending on TimeFrame of the Chart!
This is not a Drag & Play Indicator.
I use (surprise surprise) it differently.
B
thanks
meine augen sind die sterne
- #104,287
- Nov 12, 2011 4:44pm Nov 12, 2011 4:44pm
Sure thing Hector ..I'm sure you meant to type LCS not LCR .. . . I'm sure it was just a typo.
Demo, back test and simulate the hell out of this or any other method you use. It will only help and give confidence to your trading ..
For example, (I dont know how often this happens), but I reviewed the aud cad daily pin i passed, and 1hr timeframe made a pinbar @ BRN 1,05 level and price went directly to the FTA @ 1,0570. It started being a poor trade with little room to the FTA on dailyes, but the 1Hr pin, made a very thight stop, and a very good profit (for the ones that actually took it). Plan to watch other daily PA, and then look for entries on lower timeframes (not anything lower than 1hr).
Another PA that I liked was the gbp aud daily Pinbar, but had an aggressive entry (didnt wait for the break, entered close to the left eye of the pinbar), and had a conservative 30+ pips SL. Final point, it wasnt a good mix, got stopped out by 3 pips. Price stoped me and turned in the right direction. Great for learning tons of things. Maybe wait for PA on lower TF in the left eye of the PinBar to confirm entry, fine tune the stop by looking how far retraces went in recent past, and/or wait for PA breaks.
Right now, I think i can be live maybe on 4 months (lol), right now the Profit/Loss ratio is all messed up with some TT (touch trades) I am trying. Good thing is the risk is closely monitored, only risking 1-2% of the demo account, so im far away from blowing anything.
Another good thing is using GOOD tight stops, helps you really cut your losses (something you read here and there, but its hard to get there), so important because a GOOD tight stop actually helps you identify those levels where the trade is no longer valid. If a winner is 3-5 times a loser, and you have a good profit/loss ratio, youre done.
I have a question about your TT. Do you use them in HCR and LCS?, because I have seen this levels are soo good to bound price everytime you have a bar that PBT&CA (or PBT&CB). I have been trying with this, and those trades are the ones messing around with my Profit/Loss ratio, lol.
Best wishes to every1
Hector
- #104,288
- Nov 12, 2011 5:13pm Nov 12, 2011 5:13pm
- Joined Jan 2006 | Status: Monarch o' the Glen | 5,561 Posts
anything offered by bill should be inspected carefully :-)
thanks
Maybe it Helps.
Maybe it will take a while.
- #104,289
- Nov 13, 2011 4:55am Nov 13, 2011 4:55am
- Joined Feb 2009 | Status: kiki soso largyalo | 2,243 Posts
meine augen sind die sterne
- #104,290
- Nov 13, 2011 5:58am Nov 13, 2011 5:58am
Hey Rust
The breakout and pullback I used was to a flag type pattern across the BRN. This was also the area that had capped price for some time(the 3 swing high points). price formed a big BUOB then pulled back and formed a pin off this area. All strong signs. I suggest looking for more crisp patterns to those of you who are struggling though. I cut out of the pin just below 1.0500 for a much reduced loss. A big issue I see is that most people don't manage there trades to the downside and take full bar losses too much.
Hope that helps
Mike
Very nice analysis and magic cut out, I was trapped by that pin also, could you please kindly give some advise on what triggered you to cut out of it just below 1.05, normally we would put our SL at the bottom of bullish pin...full bar loss in this case.
Sincerely your fan
CK
-----------------------------
Discipline makes the difference.
- #104,292
- Nov 13, 2011 7:37am Nov 13, 2011 7:37am
- Joined May 2010 | Status: HCR-LCS SFP | 6,026 Posts
- #104,294
- Nov 13, 2011 8:52am Nov 13, 2011 8:52am
- | Commercial User | Joined Aug 2006 | 12,004 Posts
Hello Mike,
Very nice analysis and magic cut out, I was trapped by that pin also, could you please kindly give some advise on what triggered you to cut out of it just below 1.05, normally we would put our SL at the bottom of bullish pin...full bar loss in this case.
Sincerely your fan
CK
Here was what I did with that aud/cad. I ended up turning a profit on it but I caught a nice PA on the 30m. Here was why i cut out on the daily
http://www.forexfactory.com/showthre...77#post5099077
Best
Mike
Please can anyone point me towards a previous post that explains fully the HCR & LCS levels and how to use them for trade entry? and if there are any posts that summarize jarroo's methods.
...here's a very good chart that explains a lot:
http://www.forexfactory.com/showthre...62#post5036262
From that post on, just read on in the thread - there's a lot more to come in those few pages until today.
http://www.youtube.com/watch?v=I7NHCy13ZLk
Love that movie
Gpfx, no offense intended, mate. It's just that ever since I began following this thread, the very question you asked gets asked every other week or even more frequent. That, of course, doesn't make it less valid for the asker. If you keep reading, you'll notice it, too! I find it hilarious, but maybe my sense of humour is off, dunno....
Anyway, happy trading & take care,
Alex
Feels a bit like:
http://www.youtube.com/watch?v=I7NHCy13ZLk
Love that movie
Gpfx, no offense intended, mate. It's just that ever since I began following this thread, the very question you asked gets asked every other week or even more frequent. That, of course, doesn't make it less valid for the asker. If you keep reading, you'll notice it, too! I find it hilarious, but maybe my sense of humour is off, dunno....
Anyway, happy trading & take care,
Alex
Thanks for the pointer, I have read a few of these posts however have been lazy and not read them all to get the bigger picture...I will now.
Thanks again Alex, good trading to you also,
Cheers
Gp,
P.S, the you tube link doesn't work for me...which film is it?
