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  • #7,021
  • Apr 6, 2012 1:02am Apr 6, 2012 1:02am
Quoting capab
anyone have trailing stop EA?? cuz my broker only allow to trail for 15 pips.. i want tight trailing stop such as 5 pips..
Here it is
arasheed
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File Type: ex4 Quik_Trailing.ex4   13 KB | 478 downloads
File Type: pdf Quik.pdf   13 KB | 723 downloads
File Type: txt Quick-trailing-Details..txt   3 KB | 832 downloads
File Type: doc Quik.doc   30 KB | 7,281 downloads
  • #7,022
  • Apr 6, 2012 2:57am Apr 6, 2012 2:57am
would this be a good trade? previous candle was small.
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  • #7,023
  • Apr 6, 2012 3:29am Apr 6, 2012 3:29am
Quoting needtolearn
would this be a good trade? previous candle was small.
I wouldn't trade at all today, volume is very thin because of all the banking holidays around the world.

Only the US will be open and we will have NFP + unemployment % numbers, those could be a big mover. It usually is, but especially in these low volume markets.

My guess is after some whipsawing we will have a move of at least 100 pips, but the direction isn't clear. Although I tend to think it will go down.
  • #7,024
  • Apr 6, 2012 5:30am Apr 6, 2012 5:30am
Quoting needtolearn
would this be a good trade? previous candle was small.

hi,

let me ask you:
- this is GBPUSD, why do you choose this pair instead of EURUSD?
- what is the price action you see on your chart other than the previous candle being small?
- where are the support and resistance levels which you see on your chart?
- is there TDI support to confirm what you see in price action?

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #7,025
  • Apr 6, 2012 5:37am Apr 6, 2012 5:37am
Quoting ljin
guys. anyone got an option of what pair to trade today? it seems most of bank are holiday. but not for usd and jpy.
so is usd/jpy would get volatile because of this?
or all pair would be the same because most of bank are holiday , so in other word , all pair are affected by it?
hi ljin,

I am not opening new trades today anticipating very low liquidity because most markets are close today.

Maybe later when there is NFP release, there may be some movement and I would like to see PA to be pro-USD because I have my EU trade protected and since I am bearish bias I anticpate PA to test 1.3000 to close this week.

Next week will be another interesting week if you look at the D1 chart closely how the monthly candle pattern for the last 2 months.

Have a good weekend.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #7,026
  • Apr 6, 2012 6:56am Apr 6, 2012 6:56am
Quoting gms
Does anyone have a description of the settings of this great indi? Couldn't find one in the other thread.

gary
Hi gary,

There is no documentation or manual available online as far as I know. This indicator is part of a proprietary system and for obvious reason there is no mql4 source shared online.
I simply use it with the default setting. Technically I understand what the other settings are catered for but did not bother to change nor try them.

I use this on broker with server time GMT0 so I did not have to bother charging the properties with GMT shift etc.

The ADR default is set to 10 days ATR. This is the most recent 10 days volatility but you may prefer to use 20 days or even 100 days.
There is little difference for major USD pairs which plus/minus is 5 to 10 pips difference for 10, 20 and 100 days ATR.
But it is not the same for the JPY pairs and you need to check these carefully because the difference can be 30 to 50 pips depends on which JPY pair you trade.

Best thing to do is to place this ADR Marker on one chart and observe how it move during a live market condition. On the day opening, the ADR Start will be the open price and the upper and lower ADR limits will be calculated using the ATR 10 days.
Observe these upper and lower limits when price move higher or lower.
For example: when price move down lower, the lower ADR limit stays at the day open preset, but the upper ADR limit line will be move down following the new lower low.
Note the limit lines will change to Red colour when the market price reach that level.

I suggest you do screen capture using the script ( my post#36), this can be use to compare the day opening and at different time during the trading day.

I find the ADR Marker very useful for intraday day trading as it help me set target expectation within reasonable range.

Hope this help.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #7,027
  • Edited 8:52am Apr 6, 2012 7:01am | Edited 8:52am
Quoting nGoldenm
I hope that some of you caught the down move in EU and GU today. Total of about 200 pips between the 2 of them.

I only trade on the candle close on H4, and there weren't enough confirmations for me at LO, so I entered at the next H4 candle. The levels of probable resistance I mentioned previously were close, so I set TP at 25 pips on EU and GU. Both were hit for +50 pips for the day.

With NFP tomorrow, I'm done for the week. Total of +252 pips this week. I'll take it.
Wow!

You did exceptionally well for someone new to trading and to this system
Reading your 10 posts, I think many new traders in this thread have a lot to learn from.

I don't think you will have any problem to be consistent as you showed you have the discipline and the analytical skills of an engineer.

Keep it up.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #7,028
  • Apr 6, 2012 7:42am Apr 6, 2012 7:42am
ok i miss out the NFP release by 1 min. i used only buy pending order on usd/jpy and forgot to do for sell. luckily the price didnt trigger my buy order. 2 pips different... since it is already like this. opening now is too late.
i think i wont open anymore. and same with monday. probably will only trade on the bernanke speaks since most volatile might be happening at that time.

end the week with +392 pips. i hope i can do the same for next week.
happy weekend and Easter guys.
  • #7,029
  • Apr 6, 2012 7:44am Apr 6, 2012 7:44am
Didn't expect such a low NFP number, 120K. Forecast was 207K

"The American economy has added 120K jobs in the month of March, posting the smallest increase in five months, down from 240K in February."
  • #7,030
  • Apr 6, 2012 11:24am Apr 6, 2012 11:24am
Quoting emmanuel7788
hi,

let me ask you:
- this is GBPUSD, why do you choose this pair instead of EURUSD?
- what is the price action you see on your chart other than the previous candle being small?
- where are the support and resistance levels which you see on your chart?
- is there TDI support to confirm what you see in price action?

regards,
I see thank you. I was just checking out the system and since EUR/USD wasn't moving smoothly or at all, I chose GBP/USD which seemed to show a cross with smooth movement but I was just checking the analysis not entering a trade and of course today there was no movement at all until the news.
And I understood your points. But could you explain price action other than previous candle being small? I mean what other price action do you think can be helpful for the entry? and TDI support meaning TDI cross, right?
  • #7,031
  • Apr 6, 2012 11:47am Apr 6, 2012 11:47am
Quoting needtolearn
I see thank you. I was just checking out the system and since EUR/USD wasn't moving smoothly or at all, I chose GBP/USD which seemed to show a cross with smooth movement but I was just checking the analysis not entering a trade and of course today there was no movement at all until the news.
And I understood your points. But could you explain price action other than previous candle being small? I mean what other price action do you think can be helpful for the entry? and TDI support meaning TDI cross, right?

hi,

since you are trying out this h1 method, it would be good to practice this on EU as recommended by X-man. There is a pdf description on EU H1 in post#1 and you should read carefully.

for more study on price action, there are plenty online material you can search and read.
But here is one for basic introduction:
http://www.trading-naked.com/Buffy_Price_Action.htm

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #7,032
  • Apr 6, 2012 12:35pm Apr 6, 2012 12:35pm
Quoting emmanuel7788
hi,

since you are trying out this h1 method, it would be good to practice this on EU as recommended by X-man. There is a pdf description on EU H1 in post#1 and you should read carefully.

for more study on price action, there are plenty online material you can search and read.
But here is one for basic introduction:
http://www.trading-naked.com/Buffy_Price_Action.htm

regards,
emmanuel7788,

Thanks a lot for the link, I've been mistakenly looking at just the open/close of the candle itself not in conjunction with the HH/HL/LH/LL to determine PA.

Thanks again!
  • #7,033
  • Apr 7, 2012 10:50am Apr 7, 2012 10:50am
Quoting emmanuel7788
hi,

since you are trying out this h1 method, it would be good to practice this on EU as recommended by X-man. There is a pdf description on EU H1 in post#1 and you should read carefully.

for more study on price action, there are plenty online material you can search and read.
But here is one for basic introduction:
http://www.trading-naked.com/Buffy_Price_Action.htm

regards,
thanks. I thought of just entering with crosses and according to the candles in london session. I will see to it that I will be using other confirmations too like supp & res, fib, etc when entering the trade.
  • #7,034
  • Apr 9, 2012 2:48am Apr 9, 2012 2:48am
Hi All,

As there have been some recent changes in daylight savings time around the world, both in London (S3 start time), and where I am (Sydney, Australia), I would just like to confirm that the London start was indeed 48 minutes ago from time of this post.

Please confirm.

I only ask as things are a little quiet, considering it's now time to trade.

Thanks.
  • #7,035
  • Apr 9, 2012 2:59am Apr 9, 2012 2:59am
Quoting jasonnevis
Hi All,

As there have been some recent changes in daylight savings time around the world, both in London (S3 start time), and where I am (Sydney, Australia), I would just like to confirm that the London start was indeed 48 minutes ago from time of this post.

Please confirm.

I only ask as things are a little quiet, considering it's now time to trade.

Thanks.
you should look to homepage. there is a session clock there. as things little quiet is because there are some factors. first, a lot of movement going on in asian session. 2nd. bank holiday.
  • #7,036
  • Apr 9, 2012 3:01am Apr 9, 2012 3:01am
Quoting jasonnevis
Hi All,

As there have been some recent changes in daylight savings time around the world, both in London (S3 start time), and where I am (Sydney, Australia), I would just like to confirm that the London start was indeed 48 minutes ago from time of this post.

Please confirm.

I only ask as things are a little quiet, considering it's now time to trade.

Thanks.
Hi Jason, to my understanding frankfurt open is 4pm, Europe is 5pm, and London is 6pm... I think this is right, as I am in Melbourne but share the same time as yourself in Sydney.

In regards to trading today, Many nations are having Bank Holidays today, Aus, NZ, and a great majority of Europe... Therefore you will encounter different movement, to usual days, hence the slow down.
  • #7,037
  • Apr 9, 2012 3:17am Apr 9, 2012 3:17am
Quoting ljin
you should look to homepage. there is a session clock there. as things little quiet is because there are some factors. first, a lot of movement going on in asian session. 2nd. bank holiday.
Thanks Ljin, yes the homepage session times do correlate with my start times. Thanks.
  • #7,038
  • Apr 9, 2012 3:20am Apr 9, 2012 3:20am
Quoting urulion
Hi Jason, to my understanding frankfurt open is 4pm, Europe is 5pm, and London is 6pm... I think this is right, as I am in Melbourne but share the same time as yourself in Sydney.

In regards to trading today, Many nations are having Bank Holidays today, Aus, NZ, and a great majority of Europe... Therefore you will encounter different movement, to usual days, hence the slow down.
Hi Urulion,

I think your London time is wrong. It should be 5pm. Correct we do share the same +10 GMT timezone.

I use this site to confirm.

http://forex.timezoneconverter.com/

Cheers Mate
  • #7,039
  • Apr 9, 2012 3:46am Apr 9, 2012 3:46am
Hi,
A possible trade today is to catch a retracement of last week dip.
But with most markets close, liquidity is low so this trade may go into US session.

cheers!
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD H1 9 Apr trade 9-4-2012 4-37-15 PM.png Size: 49 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #7,040
  • Apr 9, 2012 4:09am Apr 9, 2012 4:09am
Quoting jasonnevis
Hi All,

As there have been some recent changes in daylight savings time around the world, both in London (S3 start time), and where I am (Sydney, Australia), I would just like to confirm that the London start was indeed 48 minutes ago from time of this post.

Please confirm.

I only ask as things are a little quiet, considering it's now time to trade.

Thanks.
just keep this tab as one of your homepages, it will open each time you start your computer

http://www.forex4noobs.com/forex-tools/forex-clock/

It takes a lot for me to IGNORE you, but you can try.
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