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  • #3,341
  • Jan 30, 2012 10:00am Jan 30, 2012 10:00am
Quoting hale-mary
The previous 1 hour red candle that formed...would that be a signal to go short? I was looking at your candle analysis and there is a similar canlde you mention that you say you would skip or go short when comparing it to a pullback candle to go long
Hello mate which currency pair are you refering to?

can you attach the relevant chart please?

Would help a lot


Thank

DD
  • #3,342
  • Jan 30, 2012 10:04am Jan 30, 2012 10:04am
Quoting hale-mary
X-man did you go to the compass site to watch the videos or what specific videos did you watch? Trendlines are something I stink at but want to get better at.
I went on his site. He has tons of videos to watch. I do watch and keep picking up tips.

http://www.compassfx.com/synergy/commentary.htm#Diverg

Theres the link. I'm not sure where specifically he showed me that but as you watch his videos you will see him do that.
I also sat in his free trade room but didnt like it much coz my style is different. You can maybe sit with him in his trade room and pick up tips. You can maybe start off with the synergy method and TDI videos
X-man the legendary conqueror of markets
  • #3,343
  • Jan 30, 2012 10:14am Jan 30, 2012 10:14am
I got 6 pips today from that downswing. Right now I'm long from 1.3104 and TP at 1.3130. Hopefully will reach it. What do you fellas think?
I'm still learning! George
  • #3,344
  • Jan 30, 2012 10:17am Jan 30, 2012 10:17am
Hale Mary
You could also go to babypips.com to learn how to draw trendlines.
X-man the legendary conqueror of markets
  • #3,345
  • Jan 30, 2012 10:25am Jan 30, 2012 10:25am
Quote
applying trendlines in really time is difficult for me even though conceptwise it makes sense. Since i keep adjusting when the the angle changes due to breaks.

Study a little about trend lines and then practice - you will eventually be able to visualize them without having to draw them on your chart.

From a previous post of mine . . .

About trend lines . . . the definitive book on trend lines is "The New Science of Technical Analysis" by Tom DeMark. His definition of trend lines and ongoing study of price action using Supply and Demand trend lines will remove any arbitrary speculation of what constitutes a trend line and its relevance in trading.

When I asked a very successful trader years ago about trend lines, he suggested I get DeMark's book and read Chapter 1 100 times. Great advice.

Hope this helps.
  • #3,346
  • Jan 30, 2012 10:26am Jan 30, 2012 10:26am
applying trendlines in really time is difficult for me even though conceptwise it makes sense. Since i keep adjusting when the the angle changes due to breaks
  • #3,347
  • Jan 30, 2012 10:35am Jan 30, 2012 10:35am
It went quite well today.

Shorted E/U and E/G. Closed half my orders at + 20, let the rest run with trailing SL.
Thoughts are things
  • #3,348
  • Jan 30, 2012 10:47am Jan 30, 2012 10:47am
Alright, decided not to leave this long trade running on EU since I felt like not enough indication that the price will go up by 15 pips or more. Took 3 pips from this trade

Looking at TDI, is it usually the safest if both red and green are let's say 1-2 oclock before taking a long trade or is it enough if red is straight and green is 1-2 oclock?
I'm still learning! George
  • #3,349
  • Jan 30, 2012 11:24am Jan 30, 2012 11:24am
thanks agan, xman after reading n reading and trying lots of stratageis i found u...phew ))
i almsot understood ur method, some things to clear buut i tried it today when red signaled to go up and i went long for some time gave me little profit but it means the method is working fine..all i dont understand is that how can i see where the support is breaking? i cant understand that and if the TDI is around 32 area, is it not a trade time??? sorry if i sound too dumb, just a newbie but realy want to learn with all my heart n soul....thanx for ur kind help for everyone...
  • #3,350
  • Jan 30, 2012 12:00pm Jan 30, 2012 12:00pm
Quoting ash_k
thanks agan, xman after reading n reading and trying lots of stratageis i found u...phew ))
i almsot understood ur method, some things to clear buut i tried it today when red signaled to go up and i went long for some time gave me little profit but it means the method is working fine..all i dont understand is that how can i see where the support is breaking? i cant understand that and if the TDI is around 32 area, is it not a trade time??? sorry if i sound too dumb, just a newbie but realy want to learn with all my heart n soul....thanx for ur...
If you look at TDI you will see 3 levels. The 68 , 50 and 32.
so thats what i was talking about. When PA is in the 68 zone then it is safe not to take a long and when PA is in the 32 zone its safe not to take A short.

Well when S&R breaks that means PA when straight through that area. I would enter after that while the candle is still open. Look at my 1H chart i posted today. The green horizontal line was the support.
X-man the legendary conqueror of markets
  • #3,351
  • Jan 30, 2012 12:07pm Jan 30, 2012 12:07pm
I only managed to deliver a proper 80pips of 137pips held for trading Monday, 30.01.2012. A simple mistake me the opportunity to get 100% of the pips but wasted so easily. So, teaching, ADR target is to achieve 100%, you just wait and see it, you should not altering the other. So, let's start tomorrow 31.01.2012 with the spirit of the new trade.
  • #3,352
  • Jan 30, 2012 12:10pm Jan 30, 2012 12:10pm
Is there a way i can bring the bar chart, open and close to the front of the synergy bars, i notice most traders are able to see the open and close of the bar chart behind their synergy bars, however i can only see it when it is on a tail.
Is there a way for me to make the synergy bars thinner or the bar chart thicker?
Thanks
  • #3,353
  • Jan 30, 2012 12:28pm Jan 30, 2012 12:28pm
Hale-Mary:

To me it looks like your entry was flawless. Right on par with the 123 pattern on the 15M that I posted earlier (cant see it as well on the 1HR, but its there) Price also marched in your direction (south) and that was perfect. PHx likes to trail his trade (although on 15M) 5 pips behind HA candle after he gets a certain amount of profits and if price moves against him 20 pips he gets out. This method would have netted you very close to 50 pips by my estimate. What I cannot see is where you put and moved your stoploss to BE or Profit. From the entry point there was almost 70 pips possible, but I would have taken my 50 and ran away from my computer today with a slow moving market and so many red candles at my back. But alas, in trying to help replicate another traders problems I erased all my indicators and had to reinstall MT4 and messed up with a setting in the EA that exits my positions. I did however have the fortitude to not enter again and risk what little profits ended in my pockets. Like I said though, Your entry was great, probably perfect. Good luck

LL
"IN CASH WE TRUST"
  • #3,354
  • Jan 30, 2012 12:31pm Jan 30, 2012 12:31pm
LL

My entry was at 1.3136 and I normally move my SL to BE + 2 when price moves between 20 to 25 pips. So price hit 1.3134 and took me out.
  • #3,355
  • Jan 30, 2012 12:31pm Jan 30, 2012 12:31pm
Quoting robthorp
Is there a way i can bring the bar chart, open and close to the front of the synergy bars, i notice most traders are able to see the open and close of the bar chart behind their synergy bars, however i can only see it when it is on a tail.
Is there a way for me to make the synergy bars thinner or the bar chart thicker?
Thanks
Rob:

Please post your chart with your question again and I think I can help you. I know what you are asking, but it might be easier to tell the issue if I have a pic. Make sure to zoom in a little so we can see your candles.

LL
"IN CASH WE TRUST"
  • #3,356
  • Jan 30, 2012 1:20pm Jan 30, 2012 1:20pm
Quoting robthorp
Is there a way i can bring the bar chart, open and close to the front of the synergy bars, i notice most traders are able to see the open and close of the bar chart behind their synergy bars, however i can only see it when it is on a tail.
Is there a way for me to make the synergy bars thinner or the bar chart thicker?
Thanks

Hello Rob,

Easy with HA bars but Synergy bars don't seem to allow you to keep changes when you change charts. Open a new blank chart, drag and drop the HA indicator from custom indicators, right click the chart and select "Properties", click "Common" tab and select "Chart on foreground" and "Bar chart" options, click on "Colors" tab and select contrasting colours for "bar up" and "bar down" to your HA candle colours. Click OK.

You should have a chart that looks something like the attached.

Synergy Bars are more complicated; you will need to give the candles a width of 3 and put "none" as the colour in the first two "Colors" options but, as I have said, they do not seem to want to keep these changes. Perhaps someone more proficient than I can work out how to save the changes.

I hope that this is what you wanted, good luck with it.
Attached Image (click to enlarge)
Click to Enlarge Name: randy candles.gif Size: 19 KB
TTFN Merlyn
  • #3,357
  • Jan 30, 2012 3:54pm Jan 30, 2012 3:54pm
Here we go...
Attached Image (click to enlarge)
Click to Enlarge Name: 30.1.jpg Size: 196 KB
Thoughts are things
  • #3,358
  • Jan 30, 2012 3:57pm Jan 30, 2012 3:57pm
Quoting Quezoy
Here we go...
You sure your channel is set up properly? The Daily channel is going nicely downwards in a 4 oclock angle. At least on my chart. I'm not an expert, though!
I'm still learning! George
  • #3,359
  • Jan 30, 2012 4:06pm Jan 30, 2012 4:06pm
Quoting speedbird122
You sure your channel is set up properly? The Daily channel is going nicely downwards in a 4 oclock angle. At least on my chart. I'm not an expert, though!
Well... my daily is also going down but the 4H is as it is.

60 EMA and channel got touched, pinbar formed. I thought I'll take a shot - its demo, gotta try out things.
Thoughts are things
  • #3,360
  • Jan 30, 2012 4:43pm Jan 30, 2012 4:43pm
Quoting hale-mary
So here is the chart of where I shorted this morning as indicated by the red arrow. I went short when it broke thw mini support area. price went down 25 pips only to get me at BE and continue down

Nont sure what i coud have done dfferently. it looks like one of those trades that didnt pan out
On the EU during the London session, when you get a proper signal to enter (your entry on this trade was perfect)....enter the trade with a 50 pip TP and a 30 pip SL and walk away from the computer. My experience shows that over 70% of the time, your TP will be hit for +50 pips. We sometimes try to "re-invent the wheel" and squeeze the most pips out of a move. It is much less stressful to just take the 50.
I enter 90% of my trades with a 50 pip TP and a 50 pip SL. If I stop monitoring the trade, I will move my SL to 30 or less (depending on where price is) and walk away. Most of the time, the TP is hit. You can be very successful with 40 or 50 pips per day (50 pips on 1 full lot = $500 a day, which = $2500 per week).
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