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  • #9,401
  • Dec 8, 2012 5:29am Dec 8, 2012 5:29am
Quoting Vantage
Hi dee, we also tend to avoid London on a Fri morning, Mon mornings also can be very scrappy.
Interesting....
  • #9,402
  • Dec 8, 2012 5:35am Dec 8, 2012 5:35am
dee 50

Look at this chat

I think I still dont know how to exactly calculate pips regarding the broker I use which is FXDD
Attached Image (click to enlarge)
Click to Enlarge Name: Untitled-1.jpg Size: 216 KB
I Have Learned to Take Some Losses to Make Profits
  • #9,403
  • Dec 8, 2012 5:39am Dec 8, 2012 5:39am
Scorps. Part of your problem appears to be that you are entering at the end of a swing, not the beginning. The average swing on a 1 hr will run from 5 - 8 candles so avoid entering after candle 3 - 4 unless there is a significant pullback to an area of S&R which would actually start a new swing anyway. I have marked up the attached.


I just copied this from my earlier response. Sorry lazy.

I have just pulled up a chart of AU and none of what you are saying makes any sense!!!! see attached. If you entered long at1.04918 price could not have gone against you 60 pips, the AU did not move that much. Post another chart and mark your entry and exit and remember that you are using a 5 digit broker so when you measure the price move and the crosshair shows for example 110, that is not 110 pips it is 11 pips.

I have to go now things to do.
Attached Image (click to enlarge)
Click to Enlarge Name: Candle count.png Size: 35 KB
Cut your Losers short and let your Winners run.
  • #9,404
  • Dec 8, 2012 5:53am Dec 8, 2012 5:53am
Thanks a lot dee50 for your help, I appreciate it

yes I do enter very late on trades, I almost need to practice more to time entry

I will back test more , and I will study the table that you provided

Thanks again for your help
I Have Learned to Take Some Losses to Make Profits
  • #9,405
  • Edited 7:59am Dec 8, 2012 5:54am | Edited 7:59am
Quoting Vantage
When back testing with 1hr candle entry I would suggest looking at the 15 min charts that co-incide. Consider stops that are above/below the last 15 min swing high/low. If you can also get 2 key levels between your entry and stop eg a W pivot, D pivot, psych level (00, 25, 50, 75), SR level, fib etc in addition to the last 15 min swing high low you should be pretty much OK.

Just an example, assuming a sell here below 1.2915, see arrow down, was a valid trade on 1hr. Then a stop around 1.2938 has a W pivot, 25 psych level, S1 and the last 15 min...
Thanks a lot

I've been using the wrong calculation which was giving me lots of stop loss because as I've been using 5 digits broker and using it as a 4 digits so a -60 pips stop loss would be only 6 pips stop loss as what I understand from dee50

Sure am going to learn pivots as you said

Thanks again for your support
I Have Learned to Take Some Losses to Make Profits
  • #9,406
  • Dec 8, 2012 8:14am Dec 8, 2012 8:14am
Quoting TheScorpS
dee 50

Look at this chat

I think I still dont know how to exactly calculate pips regarding the broker I use which is FXDD
I think you are counting one 0 to much. On most pairs, brokers show so called pipets, which are 1/10 of a pip. So your drawdown from 1.04918 to 1.04855 is 6 pips, not 60. Ignore the last numer and you'll get it right.

Regarding the late entries... try to learn about support & resistance, so you wont be taking any trades into S&R, cause there is just no value in it.
If you buy on a 1H setup just 10 pips from resistance there is no value in this trade.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: au1.jpg Size: 86 KB
Click to Enlarge Name: au2.jpg Size: 106 KB
Thoughts are things
  • #9,407
  • Dec 8, 2012 8:25am Dec 8, 2012 8:25am
Quoting dee50
If you right click the post number and then click "copy post location" you can then paste it into your post. Makes things easier. Hah!!!! cancel that I just discovered the new search features at the top lH of the page. Munirpt has just admitted to using an indy called Timezones which marks the High/Low of the session have a look at his charts, it is the Lilac boxes. Checked out PHx62 posts he is using the London Breakout Indy from the thread of the same name.
Thanks Dee50 - much appreciated
Will update my post with a link in case anyone else is interested.
Have hunted for an indicator called Timezones - no luck so far though
  • #9,408
  • Dec 8, 2012 8:33am Dec 8, 2012 8:33am
Quoting munirpt

Those boxes are done with an indicator called Timezones.
I use it to help me visualize high and lows as points of minor support and resistances.
also by a quick glance it helps me see the trend (if boxes are going up or down)
Hi munirpt
The indicator you use showing lilac boxes for each day, and red boxed outline for high and low of London / NY session seems to be exactly what I was hunting for. I know you said it was called Timezones but I can't find it anywhere. Do you happen to know where I can get it ?
Thanks
  • #9,409
  • Dec 8, 2012 8:57am Dec 8, 2012 8:57am
Quoting Quezoy
I think you are counting one 0 to much. On most pairs, brokers show so called pipets, which are 1/10 of a pip. So your drawdown from 1.04918 to 1.04855 is 6 pips, not 60. Ignore the last number and you'll get it right.

Regarding the late entries... try to learn about support & resistance, so you wont be taking any trades into S&R, cause there is just no value in it.
If you buy on a 1H setup just 10 pips from resistance there is no value in this trade.
Yes correct, this exactly the confusion I was going through, my drowdown was only a -6 pips


Thanks also for showing a chart with enough example, I like when its K.I.S.S as you've shown

Trendiness, Support and Resistance

I just need to time my entry now and catch the railway as soon as it confirms and starts, so I can make enough pips as everyone
I Have Learned to Take Some Losses to Make Profits
  • #9,410
  • Dec 8, 2012 9:17am Dec 8, 2012 9:17am
Here is the Timezones indicator
Attached File(s)
File Type: ex4 Time Zones.ex4   8 KB | 513 downloads
  • #9,411
  • Dec 10, 2012 9:22am Dec 10, 2012 9:22am
Scalping on EU for + 28 pips
Attached Image (click to enlarge)
Click to Enlarge Name: EU_10_12.jpg Size: 166 KB
  • #9,412
  • Dec 10, 2012 12:28pm Dec 10, 2012 12:28pm
Quoting munirpt
Scalping on EU for + 28 pips
I took 20 on the same trade.
  • #9,413
  • Dec 10, 2012 2:09pm Dec 10, 2012 2:09pm
Quoting munirpt
Here is the Timezones indicator
Thanks for posting the indicator - much appreciated
  • #9,414
  • Dec 10, 2012 11:54pm Dec 10, 2012 11:54pm
Quoting munirpt
Here is the Timezones indicator
Thank you very much for this good visual indicator.

arasheed
  • #9,415
  • Edited Dec 12, 2012 2:36am Dec 11, 2012 4:12am | Edited Dec 12, 2012 2:36am
Quoting munirpt
Scalping on EU for + 28 pips
Ditto. +28 pips
Cut your Losers short and let your Winners run.
  • #9,416
  • Edited 4:59am Dec 11, 2012 4:35am | Edited 4:59am
This morning +28 pips PA Trade. I have marked the 5 min chart because it is easier to see all the reasons for the trade. Pure PA Trade. But 28 pips are 28 pips, doesn,t matter how you get them it is all money in the bank. I got in ahead of the 1 hr signal, but now we have to see if it will run. There are orders at the offer sitting in the 2970 - 2980 area and again at 1.3000 - 1.3010. With sell stops sitting around 1.3020. Where as offers at the bid are all sitting down below at 1.2920 - 1.2930 and again 1.2900 - 1.2905.
Attached Image (click to enlarge)
Click to Enlarge Name: 11 12 +28pips.png Size: 93 KB
Cut your Losers short and let your Winners run.
  • #9,417
  • Edited 10:30am Dec 11, 2012 10:29am | Edited 10:30am
Hi,

I share two trades with you. As they are correlated I had taken half risk with each.

1. GJ H4
In uptrend and after the doji the price could not close below BRN and TDI priceline is bouncing from VB and bullish TDI cross I entered short. I set TP below Fib 100 which is just below next BRN. TP of 44 pips hit.

2. EJ H4
Uptrend to, evry similar setup plus the Fib 78.6 was just above RN which acted as support+ TDI priceline returning between VBs and bullish TDI cross. TP was set below next BRN.

take care,
thrax
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gj.gif Size: 32 KB
Click to Enlarge Name: ej.gif Size: 31 KB
  • #9,418
  • Dec 11, 2012 10:34am Dec 11, 2012 10:34am
Didnīt have time today to babysit trades, had to be some where else by 14.00 my time So a second PA Trade for +28 pips total 56 pips for the day nice example of a typical 123 trade, even if I do say so myself. But that 1 hr signal should have netted you all some nice pips by now.
Attached Image (click to enlarge)
Click to Enlarge Name: 11 12 + 28pips x 2.png Size: 90 KB
Cut your Losers short and let your Winners run.
  • #9,419
  • Dec 11, 2012 11:09am Dec 11, 2012 11:09am
Quoting thrax
Hi,

I share two trades with you. As they are correlated I had taken half risk with each.

1. GJ H4
In uptrend and after the doji the price could not close below BRN and TDI priceline is bouncing from VB and bullish TDI cross I entered short. I set TP below Fib 100 which is just below next BRN. TP of 44 pips hit.

2. EJ H4
Uptrend to, evry similar setup plus the Fib 78.6 was just above RN which acted as support+ TDI priceline returning between VBs and bullish TDI cross. TP was set below next BRN.

take care,
thrax
Nice trades mate. I entered the GB/US at exactly the same point but gave a small SL. It hit my SL and turned up. lesson learned!!
  • #9,420
  • Dec 12, 2012 2:12am Dec 12, 2012 2:12am
Quoting munirpt
Scalping on EU for + 28 pips

What your made you take that trade?

Thanks in advance.
Remember I'm a newbie!
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