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  • #3,301
  • Jan 30, 2012 6:28am Jan 30, 2012 6:28am
Quoting AmaNZ
Does Low ADR target will be achieved today? Welcome we discuss and comment!

Well, I'll manage the downside (my stops) and the market will manage the upside (my profits) ...
it all about managing our trading psychology, deal with the fear and greed factors all the time, stick to my trading plan,

"If you want to maximise profits, you must be prepared to give up 50% of what the market gave you"
Quote: Dr Van Tharp.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #3,302
  • Jan 30, 2012 6:40am Jan 30, 2012 6:40am
Quoting emmanuel7788
Well, I'll manage the downside (my stops) and the market will manage the upside (my profits) ...
it all about managing our trading psychology, deal with the fear and greed factors all the time, stick to my trading plan,

"If you want to maximise profits, you must be prepared to give up 50% of what the market gave you"
Quote: Dr Van Tharp.

Wow... Terbaek... Tq, bos...
  • #3,303
  • Jan 30, 2012 6:49am Jan 30, 2012 6:49am
STCL:

Well, as far as advice, I would keep it general and my mistakes were things like this: Thinking that FX was a good get rich quick system that works. Well, The truth is that FX is a skill and an occupation. For me, an addiction. I used to ask "how long till I can trade for a living?" A good trader asked me in return: "How long does it take you to learn a profession?" Another mistake is studying the wrong things. I used to love indicators. So colorful and truthful and everytime it gave a signal I would make money. Well, It took a while for me to learn that Indicators (like X-Man started to imply) have their faults. Many repaint and Every indicator lags at least a little bit, that is why Price Action is so important. It doesn't lag near as much. But I always felt that PA was to subjective. You have to see patterns and they don't always work, but after awhile you start to see the ones that do more and more. One of the most important things I can tell you is to stick with one system. If you lose, keep to the system, keep learning it, try your best not to change the spirit of it if you decide to make any changes. Its difficult to explain why, but here it goes: FX was particularly difficult for me because everytime I lost money I would ask: "what went wrong?" Automatically you blame the system because it is difficult for a person to accept that they are wrong often when learning forex. Hence it MUST be the system that is at fault. But then again every system loses sometimes, so it is difficult to find and figure out as a beginner what is an affective plan as well as an effective one. So, do not change systems when you have decided on one. Keep learning it and stay with it. Demo trade until you have been profitable for at least 1 month. Then trade micros for another month. Only then should you consider increasing your lots. In this part I would like to suggest patience. It may take you months or years to be profitable. The markets will always be here. Do your best not to get downtrodden on FX, realize that losing is part of the game. Just like a business has expenses and slow times when you are not making money, start up costs, etc. So take it slow, go through babypips all the way. I am going through it again for the third time in three years, because they keep adding some stuff, and other stuff starts to sink in with experience. Treat Fx like a hobby (meaning enjoy it and work on it like a game or sport) until you can make it more of a business. Good luck.

LL
"IN CASH WE TRUST"
  • #3,304
  • Jan 30, 2012 6:53am Jan 30, 2012 6:53am
Quoting robthorp
Morning Everyone, I can tell this is going to be a hard question to explain.

I spent last week backtesting a year of data, however unaware that synergy bars incorporate previous bars averages and do not display exact price movement. I got very accurate at predicting the upcoming synergy bars (strength and direction).

Question 1 - Is there a way i can use this to trade/ to my advantage, i.e i am looking for a correlation between synergy bars and normal candlesticks, such as when synergy bar shows this, candlestick shows this...

Question 2...

Hi Rob,

I can see that you are engineering this APB thingy.

You are correct that the APB Open/Close do not represent the true price open and close.

See attached chart where I compare the orginal Heiken Ashi (HA) and Synergy APB and Japanses price candlestrick.

Note:

1) The APB Open and the HA Open are the same.

2) The APB Close is not the same as the HA Close. Why?

HA Close is = OHLC/4
APB Close is = {OHLC/4 + C}/2

APB has ceratin specific uses by Dean Malone' Synergy 2.0 system.
> One use is for Exit. See chart example.
If you follow Phx62 last week trades, his trade exit on 23 Jan is quite identical using this APB as signal.

Q1. Learn the behaviour of the APB - its shows the underlying market strength and momentume better than normal price candles. It also has a 'predictive' behaviour making its Open calculation based on the previous candle and Close using current candle OHLC.
APB used with candlestick patterns like IB, OB and reversal patterns, helps in identifying better setups.

Q2. I prefer to based my trades using price candles. That's why I place the APB in a separate indicator window below my chart.

Hope this helps.

Keep exploring, I am sure you will make some new discovery on this APB technique and you can customise further to suit your own trading system in future.

Good luck!
Attached Image (click to enlarge)
Click to Enlarge Name: APB study vs HA PA.png Size: 62 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #3,305
  • Jan 30, 2012 6:58am Jan 30, 2012 6:58am
Quoting LazyLobster
HM:
Here is an attatchment that I have put up in the past, but since there is interest, I will post it again. I actually have this open in the background while I trade. It shows the basic 123 patterns and suggestions of how you could trade them.
Thank you LazyLobster! This is very helpful!

God bless you man!
In GOD We TRUST !!! "REPETITION is the mother of all SKILLS." -Bo Sanchez
  • #3,306
  • Jan 30, 2012 7:02am Jan 30, 2012 7:02am
NY session has begun. I still believe that ADR Low target will be achieved. Let's hope so. We should encourage 20pips just to reach. For the first time I was brave and confident to trade for a long time. This system is proving its greatness. Good enough. Thank you very much X-Man's.
  • #3,307
  • Jan 30, 2012 7:03am Jan 30, 2012 7:03am
Quoting X-Man
You have to be a memeber of FB to join the groups etc
Thanks X-Man! Should I just click "LIKE" and I will be automatically included in the group?
In GOD We TRUST !!! "REPETITION is the mother of all SKILLS." -Bo Sanchez
  • #3,308
  • Jan 30, 2012 7:03am Jan 30, 2012 7:03am
Quoting gms
I entered a sell on EA based on the H4 method:

- PA pullback
- candle color change
- TDI cross
- TDI returned into blue band
- triple top resistance at 1.2470

gary
Nice one Gary!
The last APB bar Close is lower the previous Close. Good signal.
Bearish engulfing candle pattern.
An early entry and weak strength. Let's see if more sellers rush in. I hope this holds well.

Cheers!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #3,309
  • Jan 30, 2012 7:11am Jan 30, 2012 7:11am
Quoting Awin
Thanks X-Man! Should I just click "LIKE" and I will be automatically included in the group?
There are 2 links , one is for the page and the other is for the group. you can go to the page and like it and you can go to the group to join. Both links are posted on post #1
X-man the legendary conqueror of markets
  • #3,310
  • Jan 30, 2012 7:17am Jan 30, 2012 7:17am
Quoting AmaNZ
NY session has begun. I still believe that ADR Low target will be achieved. Let's hope so. We should encourage 20pips just to reach. For the first time I was brave and confident to trade for a long time. This system is proving its greatness. Good enough. Thank you very much X-Man's.
I have 2 short positions open. If you do a FIB on the daily, PA bounced down from the 38.2 and looks like heading to the 23.6 @ 1.3005 level...TDI almost at 32 level but the bounce before gives some encouragement to short...fundamentally, the summit still shaky, so more encouragement to go short...momentum now starting....
In GOD We TRUST !!! "REPETITION is the mother of all SKILLS." -Bo Sanchez
  • #3,311
  • Jan 30, 2012 7:28am Jan 30, 2012 7:28am
Quoting Awin
I have 2 short positions open. If you do a FIB on the daily, PA bounced down from the 38.2 and looks like heading to the 23.6 @ 1.3005 level...TDI almost at 32 level but the bounce before gives some encouragement to short...fundamentally, the summit still shaky, so more encouragement to go short...momentum now starting....
I think it is enough to get to the Low ADR target for today... Discipline yourself a little and take the break... More less 15pips again to get the target... Come on...
  • #3,312
  • Jan 30, 2012 7:30am Jan 30, 2012 7:30am
Quoting X-Man
There are 2 links , one is for the page and the other is for the group. you can go to the page and like it and you can go to the group to join. Both links are posted on post #1
Thank you so much MR. CONQUEROR!
In GOD We TRUST !!! "REPETITION is the mother of all SKILLS." -Bo Sanchez
  • #3,313
  • Jan 30, 2012 7:32am Jan 30, 2012 7:32am
Quoting emmanuel7788
Hi Rob,

I can see that you are engineering this APB thingy.

You are correct that the APB Open/Close do not represent the true price open and close.

See attached chart where I compare the orginal Heiken Ashi (HA) and Synergy APB and Japanses price candlestrick.

Note:

1) The APB Open and the HA Open are the same.

2) The APB Close is not the same as the HA Close. Why?

HA Close is = OHLC/4
APB Close is = {OHLC/4 + C}/2

APB has ceratin specific uses by Dean Malone' Synergy 2.0 system.
> One use is for Exit. See chart example.
If you...
Hi emmanuel7788,

Good one.. It really help me to differentiate the APB and HA... For a new trader like me to get most of the important info from this thread is crucial.. With the guidance from the senior traders it really helps me a lot.. thanks to all for your kind contribution to newbie like me... Thank you X-Man... God Bless all of you here...
  • #3,314
  • Jan 30, 2012 7:38am Jan 30, 2012 7:38am
Quoting AmaNZ
I think it is enough to get to the Low ADR target for today... Discipline yourself a little and take the break... More less 15pips again to get the target... Come on...
Well you're right... greed can kill you and it does come out often for humans, one of the best way to counter it is to take calculated risk....sometimes, hesitation impedes, again calculated risk counters this....see! now it's dropping down...3090 level now!
In GOD We TRUST !!! "REPETITION is the mother of all SKILLS." -Bo Sanchez
  • #3,315
  • Jan 30, 2012 7:41am Jan 30, 2012 7:41am
Quoting Awin
Well you're right... greed can kill you and it does come out often for humans, one of the best way to counter it is to take calculated risk....sometimes, hesitation impedes, again calculated risk counters this....see! now it's dropping down...3090 level now!
But, i up my TP to 1.3077 now... Hope take it's...
  • #3,316
  • Jan 30, 2012 7:47am Jan 30, 2012 7:47am
Quoting AmaNZ
But, i up my TP to 1.3077 now... Hope take it's...
Good for you mate! mine's at 1.3074...Goodluck to us!
In GOD We TRUST !!! "REPETITION is the mother of all SKILLS." -Bo Sanchez
  • #3,317
  • Jan 30, 2012 7:58am Jan 30, 2012 7:58am
Quoting Awin
Good for you mate! mine's at 1.3074...Goodluck to us!
I took the TP 1.3077 as my template that displays the lowest target at the moment... Do not know from which he could but when I look at and think, likely to reach the TP is accurate... I hope the take profit target is reached. G. Luck.
  • #3,318
  • Jan 30, 2012 8:00am Jan 30, 2012 8:00am
Quoting emmanuel7788
Hi Rob,
Thankyou Emmanuel!
I believe you have answered a couple of my questions in the past also, your answers certainly help! Infact i wouldnt have realised about the Synergy bars until i started loosing trades, if you hadnt had answered!
Thankyou
  • #3,319
  • Jan 30, 2012 8:02am Jan 30, 2012 8:02am
Guys i have something special for all of you.

A pro trader and friend (Dcginc) has started a blog on trading strategies ,techniques, advice etc. His website is called the pro trader network.
Some of you guys may recognize him from trading made simple.
He always use to give excellent advice and tips towards trading. One of the well respected traders.

Heres a link to his blog http://www.protradenetwork.com/
Here you will learn very valuable trading tips.
We should all visit this blog and become members as i guarantee you that you will surely learn a few things from Dcginc

He just started his blog this week and with time it will grow.
X-man the legendary conqueror of markets
  • #3,320
  • Jan 30, 2012 8:03am Jan 30, 2012 8:03am
Quoting AmaNZ
I took the TP 1.3077 as my template that displays the lowest target at the moment... Do not know from which he could but when I look at and think, likely to reach the TP is accurate... I hope the take profit target is reached. G. Luck.
Volume on N.O. is good...good red momentum candle too...so far, nothing's contradicting our positions....can't see why we can't reach our TP's...so far PA snubbed all positive news about sovereign bond auctions and positive US income spending...so far so good!
In GOD We TRUST !!! "REPETITION is the mother of all SKILLS." -Bo Sanchez
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