I see 6 pips everywhere I go, everywhere I go!
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If you make money, does Oanda make money? 35 replies
EveryDay just need 10PIPS for make a living . 7 replies
Bulls make money, Bears make money. And Pigs get slaughtered. 12 replies
Everyday I make around 80 pips 33 replies
Short Term / Medium Term / Long Term? 3 replies
DislikedGood looking charts. PA has been fabulous - so glad summer is over!Ignored
Dislikedok. i have recently started following PA after a nice hiatus. with a fresh attitude and unbiased view of the market I have noticed something I have never noticed before. Using a few indicators (that probably can be omitted) I have noticed that after a higher high, when price breaks below a 21 period MA - you almost always get at least a 12 pip drop. Have a look:
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Dislikedok. i have recently started following PA after a nice hiatus. with a fresh attitude and unbiased view of the market I have noticed something I have never noticed before. Using a few indicators (that probably can be omitted) I have noticed that after a higher high, when price breaks below a 21 period MA - you almost always get at least a 12 pip drop. Have a look:
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DislikedGlad to see you are back from your break. I have 2 thoughts....
1. A 21 MA can mean nothing or it can mean something. Depends on the chart you are using - how many ticks/time frame, etc. I'm sure you traders know this, but just in case there is some FNG reading this and sees '21 MA is the $hit!!' - Not necessarily.
2. I will not knock you for using indicators. Don't knock yourself.
Volatility has returned. Price Action in August sucked - I won't lie. Manage yourself, protect your inventory and Make $$ EVERYDAY!!
MongolianIgnored
DislikedHere is the PA for past week. Couple things..
I feel like there are 5 basic trades or positions I can be in.
a. If trade is long and the trend is long - Long, Long
b. If trade is short, yet trend is long - Short, Long
c. If trade is short and the trend is short - Short, Short
d. If trade is long, yet trend is short - Long, Short
e. Flat
I want to spend most of my time in either a or c personally. But there are times where I know that the trend is long for example, yet I have textbook short setting up - I would then be in example...Ignored
DislikedVery nice mate. I think we are doing the same thing here just slightly different approaches.
This does bring up the point.. What is the trend? Direction of 15M? 1H? Daily? 10tick? 70tick?
I watch the HTFs for reaction levels and to give me some context, and trade based on a combination of the bigger (1H/4H) trend and the recent swing or 'smaller trend' which I watch on the 200tick and 70 tick.
What I see is that there's always a pull back to be utilised - from the 1H to the little tick charts
Also love those figure bounces; did you read...Ignored
DislikedWhat is the trend....
I think I got this from the Turtle Trader book, but one guy said - if he can print out a copy of his chart and look at it from across the room and tell what the trend is - then there is a trend, if not.... not so much.
Whatever you as a trader decide to use, use it and own it and own the results for using it also. Hope you like my non-answer answer.
MongolianIgnored
Dislikedsounds like a great system. FXDD doesn't seem to do their charts on round numbers.. Maybe that is on purpose to make systems like this harder? Any thoughts?Ignored