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  • #901
  • Dec 5, 2011 9:44pm Dec 5, 2011 9:44pm
Quoting X-Man
Good morning World

You guys are ready for another awesome trading day?
Ive been back testing G/U on 1H and looks good.
Soon we will be doubling our pips.
I only trade a pair on the 1H chart when i have done enough back testing which makes me very confident.

Going to give it my best shot!
  • #902
  • Dec 5, 2011 9:55pm Dec 5, 2011 9:55pm
I'm ready!

Just FYI, Australia has cut interest rate by 25 basis point 2.5 hours ago.
  • #903
  • Dec 5, 2011 9:57pm Dec 5, 2011 9:57pm
hello xmen!
that is my new picture of the h4.
Is this ok?
steve
Attached Image (click to enlarge)
Click to Enlarge Name: forex gejordan.gif Size: 24 KB
  • #904
  • Dec 5, 2011 10:03pm Dec 5, 2011 10:03pm
Quoting stevebalmmer
hello xmen!
that is my new picture of the h4.
Is this ok?
steve
Yip that looks good to me , just go to the top of your platform and select bar chart .
Then go to you TDI settings and Change the color of the yellow line to none.
X-man the legendary conqueror of markets
  • #905
  • Dec 5, 2011 10:05pm Dec 5, 2011 10:05pm
Quoting alteclansing
I'm ready!

Just FYI, Australia has cut interest rate by 25 basis point 2.5 hours ago.
Thanx for the info.
Could you or anyone explain to me what happens to PA generally when interest rates are cut or increased?
X-man the legendary conqueror of markets
  • #906
  • Dec 5, 2011 10:08pm Dec 5, 2011 10:08pm
Quoting X-Man
Thanx for the info.
Could you or anyone explain to me what happens to PA generally when interest rates are cut or increased?
Hi X-man,

Usually if you read bloomberg etc, they will survey those chief economist from the local banks. For example they will say 20 surveyed and 18 of them believes there will be an interest rate cut. This happens around 2 weeks prior to Reserve Bank announcement.

Normally the market will start to price in the cut 2-3 days prior to the actual announcement.

This is according to my observation.

Hilary
  • #907
  • Dec 5, 2011 10:13pm Dec 5, 2011 10:13pm
Thanks for everything, Xman, please let's re-visit your swing entries whenever you go back in, I feel it is a much easier TF for us noobs.
  • #908
  • Dec 5, 2011 10:15pm Dec 5, 2011 10:15pm
i can,t change the yellow line at none, but this go at one!
Quoting X-Man
Yip that looks good to me , just go to the top of your platform and select bar chart .
Then go to you TDI settings and Change the color of the yellow line to none.
  • #909
  • Dec 5, 2011 10:18pm Dec 5, 2011 10:18pm
hy xmen!
please show me a picture of your own h4 system.
thx steve
  • #910
  • Dec 5, 2011 10:21pm Dec 5, 2011 10:21pm
Quoting alteclansing
Hi X-man,

Usually if you read bloomberg etc, they will survey those chief economist from the local banks. For example they will say 20 surveyed and 18 of them believes there will be an interest rate cut. This happens around 2 weeks prior to Reserve Bank announcement.

Normally the market will start to price in the cut 2-3 days prior to the actual announcement.

This is according to my observation.

Hilary
Thanx hilary i appreciate it.
I really dont pay much attention to the news .
I feel like those big guys manipulate the media to make us think what they want us to think and thats why 95% of traders dont do well in forex and because most traders have poor money management.
Thats just my personal opinion.
X-man the legendary conqueror of markets
  • #911
  • Dec 5, 2011 10:25pm Dec 5, 2011 10:25pm
Seriously though, unless the result is really really "unexpected", there wont be any sudden movement in currencies anyway...
  • #912
  • Dec 5, 2011 10:26pm Dec 5, 2011 10:26pm
Quoting geosanuy
Thanks for everything, Xman, please let's re-visit your swing entries whenever you go back in, I feel it is a much easier TF for us noobs.
Will do buddy.
Personally i feel that the 1H method would suit the noobs better as you make your pips and exit.
The swing trades plays more of a psychological role.
A noob prefer seeing results instantly which the 1H method is perfect , all you have to do is master E/U and you would see how easy it is to trade the 1 h method.
Another thing is that swing trades has larger S/Ls which most traders arent comfy with.
With 1H the maximum SL i would set is 50 to 60 most of the time its lower than that.
X-man the legendary conqueror of markets
  • #913
  • Dec 5, 2011 10:29pm Dec 5, 2011 10:29pm
Quoting X-Man
Thanx for the info.
Could you or anyone explain to me what happens to PA generally when interest rates are cut or increased?
Hi X-Man,

My understanding is that in the short term after interest rates rise, that currency should strengthen as more money moves into that currency. So
in this case, the pa should weaken if they have dropped interest rates and we should see a downward move (although may only be slight as small shift and expected) .

There are longer term implications for a country if they drop rates which
should benefit it and hence strengthen the currency but short term is where we interested in.

That's my take but happy to be corrected.

M
  • #914
  • Dec 5, 2011 10:31pm Dec 5, 2011 10:31pm
hy xmen.
Make you more pips with h 1 or h4 system?
Quoting X-Man
Will do buddy.
Personally i feel that the 1H method would suit the noobs better as you make your pips and exit.
The swing trades plays more of a psychological role.
A noob prefer seeing results instantly which the 1H method is perfect , all you have to do is master E/U and you would see how easy it is to trade the 1 h method.
Another thing is that swing trades has larger S/Ls which most traders arent comfy with.
With 1H the maximum SL i would set is 50 to 60 most of the time its lower than that.
  • #915
  • Dec 5, 2011 10:39pm Dec 5, 2011 10:39pm
Quoting nunrgguy
OK - so going by that you're not trading based on hourly bars at the open of the new candle then, if you're trading based on hourly chart you cannot trade just prior to the open unless you are trading on a candle that hasn't closed yet (unless you are trading off a smaller TF chart of course).

I'm still long EU myself atm but only up about 15 pips

Hi nunrgguy, I am trading a 1h timeframe using GFT as my broker and trading platform, and on my chart the TDI had crossed and given me an entry to go long on both the EU and GU.

I am placing my trades at or around the 18:00 bar and waiting for that bar to close with TDI crossed. I also like to take trades of this kind when they are in confluence with the 4H just for my own peace of mind but still take the trade based on the indicator on the hourly chart.

I dont even keep a smaller timeframe chart open because they seem a little messy for me but as I said I am only learning!!

If anyone else thinks I have taken a wrong trade then please feel free to advise???
  • #916
  • Dec 5, 2011 10:46pm Dec 5, 2011 10:46pm
Thats how you 4H chart should look. simple

Some months i make more with 1H than the 4H .
Last month i made more on my swing trades because it was all trending so nice and other months the pairs wont trend at all. when i dont see nice trends i stick to the 1H.
for a pair to start trending take a very long time.

Thats why im back testing 1H G/U so we can jack up our pips per month to over 1000 pips,we will reach new highs to maybe 2000 pips a month.
Attached Image (click to enlarge)
Click to Enlarge Name: 4h chart.jpg Size: 132 KB
X-man the legendary conqueror of markets
  • #917
  • Dec 5, 2011 10:51pm Dec 5, 2011 10:51pm
ok, on h1 we can trade G/U?
Quoting X-Man
Thats how you 4H chart should look. simple

Some months i make more with 1H than the 4H .
Last month i made more on my swing trades because it was all trending so nice and other months the pairs wont trend at all. when i dont see nice trends i stick to the 1H.
for a pair to start trending take a very long time.

Thats why im back testing 1H G/U so we can jack up our pips per month to over 1000 pips,we will reach new highs to maybe 2000 pips a month.
  • #918
  • Dec 5, 2011 11:07pm Dec 5, 2011 11:07pm
Yes you can trade any pair on h1 and you can use the same rules.
You can go to trading made simple to see more on that.
X-man the legendary conqueror of markets
  • #919
  • Dec 5, 2011 11:09pm Dec 5, 2011 11:09pm
Quoting LazyLobster
This statement is very important in reading the TDI. I think everyone should know this for both methods. Awsome one as always Phx62. I would like to add this if I may. If the TDI is hugging the 50 line with no real slope forming on the red line then market is too choppy or consolidating (the opposite of Phx62 is saying). If you use the blue lines on TDI it works like bollinger bands in that they will narrow at these times to give you indication,but you can see this from TDI without it and will keep your charts cleaner.

Hi,
I think Phx62 pointed out an interesting behaviour of the TDI indicator. Looking into the mql4 coding, this TDI is the same as using the standard RSI in MT4 and then plotting the Moving Average using the RSI data. This will make the RSI line and MA lines in the chart window.
I came across a similar trading method using thei RSI(8) MA(8) cross inside the Bollinger Band. This will help look for trade setups. One can of course use other filters to improve on the setup probability for the trades to be taken.
I think X-Man has introduce some nice filter like the Synergy bars and also trading during the market seesions when there is volatility.
This is a great thread and way to study and learn more on our own.
see more aty this link:
http://www.forexstrategiesresources....llinger-bands/

I am sure with trading discipline , proper position sizing and money management and good trade management, trading this method can be profitable over long run.
Cheers everyone!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #920
  • Dec 5, 2011 11:10pm Dec 5, 2011 11:10pm
X-Man,
Here in London it's just past 7am, the market opens in under an hour.
Where should my first line be? Should I have the candle forming on the line now, should it be the next candle or the one that closed 10 mins ago?
Many thanks.
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