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  • #5,941
  • Mar 2, 2012 4:08am Mar 2, 2012 4:08am
Here it is !
Attached Image (click to enlarge)
Click to Enlarge Name: h1.gif Size: 45 KB
  • #5,942
  • Mar 2, 2012 4:10am Mar 2, 2012 4:10am
Quoting emmanuel7788
Hi Gwsands,

Yes, you are absolutely correct H4 is different on different broker platform. See attached chart.
This is unique in a sense, that not all traders will see the same pattern in their charts. This is good, isn't it?
What is more importrant is CONSISTENCY in trading.
Can you imagine if a trader creates a chart using 5-hour candle and build a system around a 5-hour candle. He will be successful when he trade this 5-hour candle system consistently and with own set of discipline.

Anyway, as I write this, EU already broke out....30pips...
http://i1236.photobucket.com/albums/...imecompare.jpg
  • #5,943
  • Mar 2, 2012 4:26am Mar 2, 2012 4:26am
Quoting X-Man
[color=Blue][size=3]Goodmorning Guys

Its the weekend.

Yesterday there was a webinar on wealth creation investing
There were some valuable traders there like dean malone , raghee horner , Ross.

I sat in that webinar and wanted just to see how those traders go about trading and what train of thought they have.
They each have their own kind of trading style but they all have something in common which is CONSISTENCY .

They always stick to their trading system and trade it with their trade plan.
Those guys have years of experience and i...
good advice X-Man....

Currently, I'm still stuck in learning how to enter the market and learn the psychology of trading, I like to put a pending order, set TP & SL, and let the market run. But many times the order I've set hit the SL.

The Pro Trader Network that u tell in this thread is helping me very much, thanks to Rick too.
  • #5,944
  • Mar 2, 2012 4:28am Mar 2, 2012 4:28am
Quoting Invest_or
Here it is !

Thanks!
More eyes see more.
That's an early warning.

Regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #5,945
  • Mar 2, 2012 4:30am Mar 2, 2012 4:30am
Quoting nunrgguy
http://i1236.photobucket.com/albums/...imecompare.jpg

Thanks!

CONSISTENCY ...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #5,946
  • Mar 2, 2012 4:46am Mar 2, 2012 4:46am
Just drew fibo's over the top of October 27th 2011 (100.0) and bottom January 16th this year (0.0)

Eurusd is sitting exactly at 38.2 right now.

23.6 is just below 1.3000
  • #5,947
  • Mar 2, 2012 4:55am Mar 2, 2012 4:55am
thanks (about possible of bullish divergence). make me notice that it is bad to stay on short.
my original plan will wait until the price touch ema 200 and fib 50 on h4. but well,
just close my trade for +25 pips because of that and it stuck on daily s2 for 3hours, tdi below 32 and stoch oversold.
what do you guys think about my trade. here the chart
Attached Image (click to enlarge)
Click to Enlarge Name: trade.png Size: 46 KB
  • #5,948
  • Mar 2, 2012 5:14am Mar 2, 2012 5:14am
Quoting ljin
thanks (about possible of bullish divergence). make me notice that it is bad to stay on short.
my original plan will wait until the price touch ema 200 and fib 50 on h4. but well,
just close my trade for +25 pips because of that and it stuck on daily s2 for 3hours, tdi below 32 and stoch oversold.
what do you guys think about my trade. here the chart
got the same thoughts....
on AUD/USD there is a bullish TDI cross. definitely time to get out of shorts. I'm in long on AUD
Attached Image (click to enlarge)
Click to Enlarge Name: audusd long.gif Size: 30 KB
  • #5,949
  • Mar 2, 2012 5:16am Mar 2, 2012 5:16am
Quoting emmanuel7788
Hi cmmichaels,

Yes, for intraday trading, most of my entries are done using H1 chart TF. Sometimes, I cheat using M15 for better entry price.

I am a true believer in using MTF (multi-timeframe) trading. Bascially use 3 TFs for intraday trading.
- D1 for the overall trend
- H4 for looking for setups
- H1 for timing my entry...S3 is great for this. Can never be any simpler.

The TF used is in ratio 4 to 1.
If I use H4 for trend, then H1 is for trade setups, M15 for timing entry.

I avoid using M15 because my heart cannot take that kind of excitement,...
I couldn't have asked for a better response thanks so much.
So last question I assume the move today was part of a longer term swing position that you were already in I assume from the 29th is that correct?
  • #5,950
  • Mar 2, 2012 5:36am Mar 2, 2012 5:36am
Whether you want to go long here is another story, it's Friday but a good area for taking profits
http://i1236.photobucket.com/albums/...uroheadsup.jpg
http://i1236.photobucket.com/albums/...uroheadsup.jpg
http://i1236.photobucket.com/albums/...uroheadsup.jpg
http://i1236.photobucket.com/albums/...uroheadsup.jpg
  • #5,951
  • Mar 2, 2012 6:05am Mar 2, 2012 6:05am
Quoting ljin
thanks (about possible of bullish divergence). make me notice that it is bad to stay on short.
my original plan will wait until the price touch ema 200 and fib 50 on h4. but well,
just close my trade for +25 pips because of that and it stuck on daily s2 for 3hours, tdi below 32 and stoch oversold.
what do you guys think about my trade. here the chart
damn. if i were to follow my original plan. it will reach 50pip TP.
  • #5,952
  • Mar 2, 2012 6:27am Mar 2, 2012 6:27am
This puppy is now approaching the FTA and after that it is TL with Fib.

I guess time to sit tight and see how it unfolds.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDH8.png Size: 45 KB
Forex is boring but profitable with patience and discipline
  • #5,953
  • Mar 2, 2012 6:37am Mar 2, 2012 6:37am
Quoting ljin
damn. if i were to follow my original plan. it will reach 50pip TP.
I followed my plan and hit 50TP. This may be a lesson learned for you, follow your plan and stick to it, do not react to everything you read. You have to see what's going on with your own eyes. Other peoples eyes will not make you profitable, it is your eyes that will make you or break you.
Hope this helps.

Good Luck
cajun
  • #5,954
  • Mar 2, 2012 6:50am Mar 2, 2012 6:50am
Quoting cajun
I followed my plan and hit 50TP. This may be a lesson learned for you, follow your plan and stick to it, do not react to everything you read. You have to see what's going on with your own eyes. Other peoples eyes will not make you profitable, it is your eyes that will make you or break you.
Hope this helps.

Good Luck
cajun
yea you're right. but are you taking the same entry? what makes you decide to enter the trade?
  • #5,955
  • Mar 2, 2012 6:53am Mar 2, 2012 6:53am
Very good week for me this week, thanks X-MAN and others. I think i am done for the week, results below.

M = +72
T = +38
W = +52
T = +96
F = +50
---------------
308 Trading eur/usd

127 Scalping other pairs.

435 For the week.

Also after noticing much more confidence in X-MAN System and myself, this week i decided to increase my lot size from .1 which i had been trading since the beginning to between .3 and .5. I will continue to trade this for possibly a couple more months and keep increasing as long as the confidence level holds up. Therefore dollar wise this was my best week ever.

Good Luck
  • #5,956
  • Mar 2, 2012 6:55am Mar 2, 2012 6:55am
Quoting cmmichaels
I couldn't have asked for a better response thanks so much.
So last question I assume the move today was part of a longer term swing position that you were already in I assume from the 29th is that correct?

Hi,

Usually I do my trade planning over the weekend before NY open. Living in GMT+8 time zone give me a head start.
I will observe how NY open and I use GMT+0 as my chart baseline no matter which broker server data feed I get from. I treat the Sunday candles as one separate day and Tokyo open on Monday as the new day of the week. I stick to this for consistency for all my trading systems. Some people argue that Sunday open must the the start of the week, etc. It is a matter of preference and must be taken into consideration when we design our system.
The Sunday candles for me is unqiue in many sense and it is actually the cue for my trading for in the new week. Some people call this bullshit. I don't care so long as I use this consistently and grow my account consistently.

For EU this week, I did my usual Big Picture planning. The monday
27 Feb closing candle was very significant. See my post #5608.

It was whether that would be reversal or continuation for this week.

Then on Tuesday, someone PM me and asked about kiwi-dollar. While discussing NZDUSD, that alerted me back to EU chart pattern on 28 Feb.
The 28 Feb day closing candle drew more attention and I had to dig deeper into my chart patterns memory. See my post #5710.

So 29 Feb was the start of my this week's swing trades. Swing trading is lucractive when it is combine with smart money management position strategy. In a weekly swing of 300pips, we need to capture only 60% to 70% of that swing but can make double the number in pips. It is multi-level multi-lot trading.

Also, I think I missed another part of your question earlier. I rely more on the Japanese candlestick patterns much more than the APB. I do find the APB has its character which can be put to good use.

Hope this help.

It is my end of day here. Time to wind down with some beers.

Will be awake before NY closes later today to see if there will be gap-down potential or else I clsoe my trades before closing time.

Have good weekend!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #5,957
  • Mar 2, 2012 7:06am Mar 2, 2012 7:06am
Quoting prftablefool
This puppy is now approaching the FTA and after that it is TL with Fib.

I guess time to sit tight and see how it unfolds.

Nice puppy we all have today... momentum will overcome FTA.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #5,958
  • Mar 2, 2012 7:09am Mar 2, 2012 7:09am
Quoting cajun
Very good week for me this week, thanks X-MAN and others. I think i am done for the week, results below.

M = +72
T = +38
W = +52
T = +96
F = +50
---------------
308 Trading eur/usd

127 Scalping other pairs.

435 For the week.

Also after noticing much more confidence in X-MAN System and myself, this week i decided to increase my lot size from .1 which i had been trading since the beginning to between .3 and .5. I will continue to trade this for possibly a couple more months and keep increasing as long as the confidence level holds...
Please post your charts.

Thank you
  • #5,959
  • Mar 2, 2012 7:11am Mar 2, 2012 7:11am
There's also a gap from last week that hasn't been filled at around 3170. I suppose this is what's attracting PA like a magnet.
  • #5,960
  • Mar 2, 2012 7:15am Mar 2, 2012 7:15am
Not as such. The gap attracts nothing. The supply/demand area from whence and why you see the gap can be important. There's possible liquidity there for getting fills.
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