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  • #2,941
  • Jan 19, 2012 1:34am Jan 19, 2012 1:34am
Quoting robuk
thanks very much
on my chart the tallest peak is through the upper channel and the present peak almost touching it - so i dont know why .
it seems whenever i put the daily to 1440 it seems to want to revert back to zero
Why dont you just flip from daily to the 4H TF this will adjust your channel automatically thats what i do.
X-man the legendary conqueror of markets
  • #2,942
  • Jan 19, 2012 1:34am Jan 19, 2012 1:34am
Quoting pete123
Robuk, you could try the following: open a new chart, set time frame to 'daily', then add the templet supplied by X-Man. Change the daily setting to 1440 and save this as your new templet. Hope this solves your problem.
B T W, I am not much of a tech guy, but this is what I did and it worked for me.
Cheers
Pete
thanks Pete--will try it
  • #2,943
  • Jan 19, 2012 1:37am Jan 19, 2012 1:37am
Quoting emmanuel7788
hm,

thanks for posting your trades on 17 Jan. Reading your postings, I sense the emotions piling up. Hope you don't mind my comments below:

[color=black][font=Times New Roman][size=3]First, those trades you took are aggressive entries and carries higher risks. You cannot emulate what X-Man and Phx62 are doing because they are both more experienced and I am sure they each have developed ‘a third eye’ already which help them see things further ahead and they...
Thanks buddy i really appreciate the free advice and the free PDF. That will surely enhance my skills as a trader.
Everyday is a learning day.
X-man the legendary conqueror of markets
  • #2,944
  • Jan 19, 2012 1:49am Jan 19, 2012 1:49am
Quoting hale-mary
So this is going to be difficult to explain .....
.
A graphic of the actual trades would help visualise it much better.
As emanual7788 suggested, to show a trade on the chart, Click the Account History tab, then Drag and Drop the Trade on the chart.
See attached, which is my trade. Unfortunately got out too early!
EP
Attached Image (click to enlarge)
Click to Enlarge Name: jan18.gif Size: 94 KB
  • #2,945
  • Jan 19, 2012 2:05am Jan 19, 2012 2:05am
Hi everyone,

just wanted to share the trades I took yesterday using the swing strategy

EUR/AUD enter long 1.2270 currently 1.2381 +111 pips
NZD/USD enter short 0.8063 currently 0.8018 + 46 pips

Both trades went overnight with a SL set at BE


There is a potential setup for short EUR/CAD with SL at 65, TP 100-120,
short GBP/JPY

Happy trading!
  • #2,946
  • Jan 19, 2012 2:10am Jan 19, 2012 2:10am
Quoting X-Man
Why dont you just flip from daily to the 4H TF this will adjust your channel automatically thats what i do.
thanks for reply-
i was trying to get the daily shi showing on the four hour which it seems unwilling to do , and when i try to do so it never looks the same as the charts posted here .it just seems to just show whatever time frame i am on .
  • #2,947
  • Jan 19, 2012 2:23am Jan 19, 2012 2:23am
X Man,
Have been looking at the following 4 Hr charts ( EurUsd, GbpUsd, EurJpy, UsdChf and GbpJpy ) and if I am correct, if the next candle changes colour, then we have a valid entry. Is my analysis correct?
Gregben
  • #2,948
  • Jan 19, 2012 3:36am Jan 19, 2012 3:36am
Quoting hale-mary
here is the next two days of the week. not sure how to tackle these situations as well. Sorry to be this vague but i am pulling my hair out trying to figure out what i am missing. Overtinking? underthinkg? dont know
HM,
Even though you have already had some advice on what you could do, and you may find what I suggest a bit extreme, I believe that it will be the key to getting your thinking straight.
It will focus your mind like nothing else.
Forget Demo. Use it only to get to know your platform and the charts.
Begin to trade live, even if it is only 0.01 lots.
Demo accounts to me are just a trap, giving newbies a false sense of security.
There is a total change on dynamics, the minute you go live and there is no way you will allow losing trades to run, they way one might do on demo.
Anyway, that is just my little input.
EP
  • #2,949
  • Jan 19, 2012 4:17am Jan 19, 2012 4:17am
ok. demo in few instances but I am on a micro live most of the time
  • #2,950
  • Jan 19, 2012 4:29am Jan 19, 2012 4:29am
EaglePip
Quote
Demo accounts to me are just a trap, giving newbies a false sense of security.

I agree for many reasons. However, new traders should, at the very least, trade a demo account to become proficient with the platform. Once you can quickly and comfortably place orders and manipulate the tools, then open a small account (micro) for live trading practice.

In the early stages of trading, while your emotions are schizophrenic, many mistakes are made as a result of lack of dexterity and experience with the software.

Practice the platform basics and trade plan basics on a demo account, then get live as soon as possible with a micro account.

There is no comparision, even trading a penny, between live and demo trading. The emotional transition itself is enough to create anxiety, let alone platform execution errors.

If you are still having difficulty, stop trading. You will need to revisit the rules of your trade plan and figure out where you are having the greatest challenges.

All the best.

dcginc
  • #2,951
  • Jan 19, 2012 5:33am Jan 19, 2012 5:33am
Quoting gregben
X Man,
Have been looking at the following 4 Hr charts ( EurUsd, GbpUsd, EurJpy, UsdChf and GbpJpy ) and if I am correct, if the next candle changes colour, then we have a valid entry. Is my analysis correct?
Gregben

Yes thats correct at the same time you look for a cross on TDI
X-man the legendary conqueror of markets
  • #2,952
  • Jan 19, 2012 10:05am Jan 19, 2012 10:05am
hi X-man, thank you for posting your trades.
have a question for you - few pages back you posted candlestick patterns.
The first picture you said you wouldnt go long after the first candle.

http://www.forexfactory.com/attachme...1&d=1326869453

then next picture you said you would short it in an uptrend (second picture). not sure what i am missing but they look the same to me in terms of open/high/low/close (of course other than one is bullish and the other bearish). could you perhaps expand on that?
http://www.forexfactory.com/attachme...1&d=1326870441

all the best

tonny
  • #2,953
  • Jan 19, 2012 10:29am Jan 19, 2012 10:29am
today i lookd at the graph and the market moved so slow. Practicing patience is tough because it is hard to determine if it is patience or wishing.

anyway I entered on the close of the green arrow today. And got out at BE. three candles later. (Not sure if there was something i did not notice.)
Attached Image (click to enlarge)
Click to Enlarge Name: eu.jpg Size: 159 KB
  • #2,954
  • Jan 19, 2012 10:54am Jan 19, 2012 10:54am
Quoting hale-mary
today i lookd at the graph and the market moved so slow. Practicing patience is tough because it is hard to determine if it is patience or wishing.

anyway I entered on the close of the green arrow today. And got out at BE. three candles later. (Not sure if there was something i did not notice.)
h-m,
the direction of your enrty is correct. But that candle is exceptionally longer the ethe previous 5 candles. So in this sort of situtaion, you must wait for a slight retracment / pullback in the next candle to get a better entry price.
Usually after a long candle a retracement of between 38% and 50% is often. So you can get a better entry price. In getting a better EP, the initial risk R is reduced and you will get a better than 1:1 trade.

Rule# - Neverf chase a long candle. Wait for a better price.

As I write now, the price just moved.

Patience is a virtue.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #2,955
  • Jan 19, 2012 11:10am Jan 19, 2012 11:10am
An example using the H4 High Low lines to spot for Insdie Bar pattern and trade the breakout.
In this example the breakout candle was exceptionally longer than previous candle. Patince reqyire you to wait for better entry price(EP).
A better EP will reduce your initial SL hence a smaller R. Hence will yield a better RR trade.

Question is : What if next candle do not retrace 38% to 50%?
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD H4 Inside Bar breakout 20-1-2012 12-58-02 AM.gif Size: 45 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #2,956
  • Jan 19, 2012 12:19pm Jan 19, 2012 12:19pm
Hi X-Man,

I don't know if it has been addressed before, but do you take the trade against the slope of the daily SHI channel on 4h swing strategy if other rules are met.Thanks.
  • #2,957
  • Jan 19, 2012 12:25pm Jan 19, 2012 12:25pm
Quoting tonny47
hi X-man, thank you for posting your trades.
have a question for you - few pages back you posted candlestick patterns.
The first picture you said you wouldnt go long after the first candle.

http://www.forexfactory.com/attachme...1&d=1326869453

then next picture you said you would short it in an uptrend (second picture). not sure what i am missing but they look the same to me in terms of open/high/low/close (of course other than one is bullish and the other bearish). could you perhaps expand on that?
http://www.forexfactory.com/attachme...1&d=1326870441...
Tonny my buddy
Both the first candles in both pictures are totally different.
First we must realize that the open of a candle is on the left hand side and the close of the candle happens on the right hand side.

In the first picture the open was high and the closed formed below the open.
The second picture the open was low the the close formed above the open.
Does this make it clearer?
Note that we are only looking at the first candles in both pictures. The second candle is the result
X-man the legendary conqueror of markets
  • #2,958
  • Jan 19, 2012 12:28pm Jan 19, 2012 12:28pm
Quoting ivanisevic
Hi X-Man,

I don't know if it has been addressed before, but do you take the trade against the slope of the daily SHI channel on 4h swing strategy if other rules are met.Thanks.
Yes at times I do but its riskier, if you can afford the risk and the other conditions are met then i would say yeah go for it.
But watch it closely. Sometimes it would go in your favor and other times it wont.
X-man the legendary conqueror of markets
  • #2,959
  • Jan 19, 2012 12:31pm Jan 19, 2012 12:31pm
Quoting X-Man
Yes at times I do but its riskier, if you can afford the risk and the other conditions are met then i would say yeah go for it.
But watch it closely. Sometimes it would go in your favor and other times it wont.
Thanks for the reply.
  • #2,960
  • Edited 1:02pm Jan 19, 2012 12:41pm | Edited 1:02pm
Quoting emmanuel7788
An example using the H4 High Low lines to spot for Insdie Bar pattern and trade the breakout.
In this example the breakout candle was exceptionally longer than previous candle. Patince reqyire you to wait for better entry price(EP).
A better EP will reduce your initial SL hence a smaller R. Hence will yield a better RR trade.

Question is : What if next candle do not retrace 38% to 50%?
emmanuel, those candlestick patterns you posted a while back. How do you determine the length of time they are valid.

Also, Xman can you give your viewpoints on some trades and trouble areas I posted. I want to get better and see how you view the PA in the choppy sessions. (I know they are not predictable but my reactions tend to stink during those times)
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