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EASY H1 trading using divergence and candle sticks

  • #961
  • May 15, 2012 7:46am May 15, 2012 7:46am
I close eur/ jpy at +8 pips at DP
  • #962
  • May 15, 2012 8:14am May 15, 2012 8:14am
Quoting Zokynho
I close eur/ jpy at +8 pips at DP
It has dropped quite a few pips - approx 45-50 now

Still - you had positive pip win!

  • #963
  • May 15, 2012 8:17am May 15, 2012 8:17am
Quoting icarusfx
I'm watching eur/gbp for a turn south...

regards
closed 1/2 position for +29 sl moved to +10 then closed at +35

thats me for the day
Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp.JPG Size: 166 KB
  • #964
  • May 15, 2012 9:03am May 15, 2012 9:03am
ok this is something that I wanna talk about and hear you opinions.

When i was entering in this trade i was full of confidence that will go down.my analyzes showing me that but i started doubt when icurusfx told me that there is dp.

Before, in all my strategies (i tried many strategies believe me) there was pivots but they are always confusing me because my opinion that they are not true and reliable in market.

I mean every trader has different point of view.I talked to good traders about pivots and everyone have different number because of broker,sunday opening wrong calculation etc etc so i stop using them.Always doubt about enter not enter in trade when i see them on chart especially DP.

This was happened to me again today, i took +8 pips but could take much more if I let this trade.

When you backtest lots of strategies you see how they profitable are but you don't see pivots in past so why use then in prezent then.

Forex is not so hard,mental approach of every trader is doubtfull and could be hard.

You never know if buy or sell buy or sell but if you use only prezent and watch only today's patterns support resistance areas and psychological aspects + some of fundamentals news you never again doubt it was good or bad trade so kiss principles are the best principles and you don't need anything else, only price and divergence in this case (which is very powerfull)

how many times did we see that there is Daily pivot and we doubt enter or not and price breaks that lvl like knife in butter?

I just wanted to say that keep your charts clean and trust yourself you trade for your own money,leave to many indies and learn about price movements.

I would like to disscuss about these so feel free to comment?

sorry for my bad english

higest regards


Quoting bluemosaic
It has dropped quite a few pips - approx 45-50 now

Still - you had positive pip win!

  • #965
  • May 15, 2012 9:28am May 15, 2012 9:28am
Regular bullish divergence potentially setting up on EUR/USD and EUR/JPY.
Waiting until current candle close for confirmation
  • #966
  • May 15, 2012 9:32am May 15, 2012 9:32am
Quoting Zokynho
ok this is something that I wanna talk about and hear you opinions.

When i was entering in this trade i was full of confidence that will go down.my analyzes showing me that but i started doubt when icurusfx told me that there is dp.

Before, in all my strategies (i tried many strategies believe me) there was pivots but they are always confusing me because my opinion that they are not true and reliable in market.

I mean every trader has different point of view.I talked to good traders about pivots and everyone have different number because of...
I fully agree with you - I do not bother with pivot points as I find them very confusing. Price does sometimes react to them but often it won't (in my limited experience).

I currently have a 50EMA on my chart (considering removing but price often reacts off this on 1H) and the RSI. That is all. I think the simpler the better as it avoids contradictary thoughts and signals.

Just need to have the mental strength and confidence to analyse the trade (you are doing well here), put the trade on and leave it alone (with SP and TP ascertained). Easier said than done I know...

Forex and indeed any trading is about mental strength
  • #967
  • May 15, 2012 9:36am May 15, 2012 9:36am
You do make a great point. But I would say this is something to do with our individual personalities. I have traded different markets on and off for the past 12 years forex for 4, but still I don't consider myself successful. Probably one of the biggest reason is that I want to learn everything there is to and I want to see what everyone in the world is seeing. I think this is my biggest flaw.

Rather than looking at what the big boys look at i.e. Price... I look at a lot of other things like Pivots, Moving Averages, S&R at all time frames and in the end I am confused. For every trade that I wish to take I can see so many obstacles towards my initial target. Hence, my confidence drops and later on I realize that wow that was a catch and I let it run because of my so called over-reliance. As mentioned I don't use any other indicator other than the RSI but even certain price based metrics are confusing enough.

So, yes I totally agree with you that if it worked for us in Demo, why make it more confusing why not keep it simple. But, it is a huge part of our personality and how we look at things... and that is what differentiates a great trader from an average trader and that is why having a system and keep on developing it is even more important.

Well said.

Quoting Zokynho
ok this is something that I wanna talk about and hear you opinions.

When i was entering in this trade i was full of confidence that will go down.my analyzes showing me that but i started doubt when icurusfx told me that there is dp.

Before, in all my strategies (i tried many strategies believe me) there was pivots but they are always confusing me because my opinion that they are not true and reliable in market.

I mean every trader has different point of view.I talked to good traders about pivots and everyone have different number because of broker,sunday...
  • #968
  • May 15, 2012 9:43am May 15, 2012 9:43am
Quoting onefineday
.

So, yes I totally agree with you that if it worked for us in Demo, why make it more confusing why not keep it simple. But, it is a huge part of our personality and how we look at things... and that is what differentiates a great trader from an average trader and that is why having a system and keep on developing it is even more important.

Well said.
I think it also comes down to us always looking for the 'holy grail' - something which returns a 95%+ win rate - which is completely unrealistic and unneccessary given good money management.

Be happy focussing on one simple system eg. this thread - divergence of price and RSI -and trading it consistently and with good money management and you will be profitable.
  • #969
  • May 15, 2012 9:45am May 15, 2012 9:45am
i never before have that mental strenght till now but only because one thing and that is money management (which is I think most important thing to strenght your mind)

i can let myself mystakes trade either conservative and aggresive depends on market on that period (day week month)

think about mm more I gave you some tips with triple divergences, do analyze and watch lower tf for confirmations because most of traders looks on higher tf what will happen on lower tf next and this is wrong

Lower times frames comes first and they showing what will happen in longer time frames

regards


Quoting bluemosaic
I fully agree with you - I do not bother with pivot points as I find them very confusing. Price does sometimes react to them but often it won't (in my limited experience).

I currently have a 50EMA on my chart (considering removing but price often reacts off this on 1H) and the RSI. That is all. I think the simpler the better as it avoids contradictary thoughts and signals.

Just need to have the mental strength and confidence to analyse the trade (you are doing well here), put the trade on and leave it alone (with SP and TP ascertained). Easier...
  • #970
  • May 15, 2012 9:57am May 15, 2012 9:57am
Quoting Zokynho
ok this is something that I wanna talk about and hear you opinions.

When i was entering in this trade i was full of confidence that will go down.my analyzes showing me that but i started doubt when icurusfx told me that there is dp.

Before, in all my strategies (i tried many strategies believe me) there was pivots but they are always confusing me because my opinion that they are not true and reliable in market.

I mean every trader has different point of view.I talked to good traders about pivots and everyone have different number because of broker,sunday...

Hi zokynho, sorry if I put you off....

Pivots are not the be all or end all of trading by any means but I use them in my frankensteinian methods lol I give them more credence when they line up with other things such as range extremes and other sup/res (fib pivots often do this).

appologies again I'll keep my trap shut next time....

btw your trading seems to be working just fine for you! & thats the important part after all.
  • #971
  • May 15, 2012 9:59am May 15, 2012 9:59am
Quoting icarusfx
Hi zokynho, sorry if I put you off....

Pivots are not the be all or end all of trading by any means but I use them in my frankensteinian methods lol I give them more credence when they line up with other things such as range extremes and other sup/res (fib pivots often do this).

appologies again I'll keep my trap shut next time....

btw your trading seems to be working just fine for you! & thats the important part after all.
Hi Icarus

Please don't stop with suggestions/tips etc.. - the good intention is there. People can either take the ideas on board or ignore. I like to keep things really simple but everyone is different.


This is a great thread - full of very helpful people and a good technique.


Cheers
  • #972
  • May 15, 2012 10:11am May 15, 2012 10:11am
Quoting bluemosaic
Hi Icarus

Please don't stop with suggestions/tips etc.. - the good intention is there. People can either take the ideas on board or ignore. I like to keep things really simple but everyone is different.


This is a great thread - full of very helpful people and a good technique.


Cheers
It is tough when you see people posting different thoughts, but it's all about mind set! I firmly believe the more perspectives a trader can comprehend the better. scalper/swing/fib etc etc buy or sell that is what gives an edge imho.

nice thread & people

regards
  • #973
  • May 15, 2012 10:23am May 15, 2012 10:23am
No icarusfx, you didn't put me off like bluemosaic said you have good intensions.

please share your thought and knowledge we can learn from each other.

I put myself off it is that hard mental part.

My advise was only for neewbies who maybe have my personality but still didn't find right way and like to many off this fancy indies.

please share your trading skills in future

highest regards


Quoting icarusfx
Hi zokynho, sorry if I put you off....

Pivots are not the be all or end all of trading by any means but I use them in my frankensteinian methods lol I give them more credence when they line up with other things such as range extremes and other sup/res (fib pivots often do this).

appologies again I'll keep my trap shut next time....

btw your trading seems to be working just fine for you! & thats the important part after all.
  • #974
  • May 15, 2012 11:20am May 15, 2012 11:20am
divergence and pinbar setup
  • #975
  • May 15, 2012 11:33am May 15, 2012 11:33am
Quoting PurePrice
divergence and pinbar setup
Sorry I'm new here

Hide div? Because they aren't in overbought and oversold zone no?
  • #976
  • May 15, 2012 1:11pm May 15, 2012 1:11pm
Quoting ofl007
Sorry I'm new here

Hide div? Because they aren't in overbought and oversold zone no?
Hidden divergence.

There are two types of divergence: Regular and Hidden.

Check out below - this should help:

http://www.babypips.com/school/divergence-trading.html

Cheers
  • #977
  • May 15, 2012 1:28pm May 15, 2012 1:28pm
Quoting bluemosaic
Hidden divergence.

There are two types of divergence: Regular and Hidden.

Check out below - this should help:

http://www.babypips.com/school/divergence-trading.html

Cheers

Sorry my English isn't so good, I meant, the divergence that pure price saw (I didn't spot it) was probably a hidden one because in the usdcad and EURGBP they were not yet in the over bought or sold zone. Sorry for my spelling and my incongruity :s
  • #978
  • May 15, 2012 2:22pm May 15, 2012 2:22pm
Quoting ofl007
Sorry my English isn't so good, I meant, the divergence that pure price saw (I didn't spot it) was probably a hidden one because in the usdcad and EURGBP they were not yet in the over bought or sold zone. Sorry for my spelling and my incongruity :s
Ah sorry - my mistake

Your English is excellent
  • #979
  • Edited 2:16am May 16, 2012 2:02am | Edited 2:16am
Is anyone looking at the EU Div on the 1H... although the trend is down.. but still is anyone considering playing this one on the next candlestick signal ?
  • #980
  • May 16, 2012 2:13am May 16, 2012 2:13am
I am looking at it. There is also regular div forming on EURJPY and EURGBP but it is against the trend so I do not think Ill jump on it.
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