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Trading Made Simple

  • #16,481
  • Mar 25, 2013 4:55pm Mar 25, 2013 4:55pm
About falling knife trading:
Attached Image
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #16,482
  • Edited 5:21pm Mar 25, 2013 4:57pm | Edited 5:21pm
I am still trying to get my hands on this book. You folks in the US must be lucky since it was first released there.
Meantime, I content myself in reading the short pdf version.

http://www.vantharp.com/matrix-mini-book-van-tharp.pdf

You want to trade falling knife, you need to mential fitness other than just the techncial skills.

Patience...
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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #16,483
  • Mar 25, 2013 5:02pm Mar 25, 2013 5:02pm
Quoting emmanuel7788
So i automate many things in my trading like for example alerts when my favourite CSP shows up in my traded pairs, .
Perhaps you can help - I've spent the last two hours hunting for a CSP indicator, downloaded about 10 (none of which indicate inside bars). I'm clear that I want to be able to spot them myself, but thought having an indicator would help me learn (then I just have to work out what the mean!!). Do you have any recommendations for an indicator with alerts please.

Thanks
  • #16,484
  • Mar 25, 2013 5:03pm Mar 25, 2013 5:03pm
AUDNZD week 13:

Yesterday soem of us talked about AUDNZD...it went sideway for 4-hour periods.
there was some increase interest during NY session after London close.
I will follow PA and see if it will move above 1.2535, that would be a good sign of bull trend.

Edit: take a look at D...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #16,485
  • Mar 25, 2013 5:04pm Mar 25, 2013 5:04pm
Quoting Britpip7
Hollowhead,

Per Emmanuel's comments, the only difference is how they are calculated. The Heikin Ashi approach has more of a stock background and has a longer averaging timeframe, so may not be best suited for Forex. The Average Price Bars were developed by the Synergy Trading folks as a faster averaging more suited to Forex. It's all in the algorithms and if you compare the pics you can see the slight differences between them.

Real Time PA is how we decide the entries, regardless of what colour the HA / APB is showing us - and of course, S/R...

Thanks Britpip - that helps alot (and I like the way you spell colour )
  • #16,486
  • Mar 25, 2013 5:07pm Mar 25, 2013 5:07pm
Quoting Britpip7
Hollowhead,

Per Emmanuel's comments, the only difference is how they are calculated. The Heikin Ashi approach has more of a stock background and has a longer averaging timeframe, so may not be best suited for Forex. The Average Price Bars were developed by the Synergy Trading folks as a faster averaging more suited to Forex. It's all in the algorithms and if you compare the pics you can see the slight differences between them.

Real Time PA is how we decide the entries, regardless of what colour the HA / APB is showing us - and of course,...
http://www.forexfactory.com/attachme...1&d=1364254374

I love this 3-chart side-by-side comparison.

Thanks David!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #16,487
  • Mar 25, 2013 5:13pm Mar 25, 2013 5:13pm
Quoting hollowhead
Perhaps you can help - I've spent the last two hours hunting for a CSP indicator, downloaded about 10 (none of which indicate inside bars). I'm clear that I want to be able to spot them myself, but thought having an indicator would help me learn (then I just have to work out what the mean!!). Do you have any recommendations for an indicator with alerts please.

Thanks
OK, download this one name "Price Action AHA_0 2V2 mod" at this link:
http://www.forexfactory.com/showthre...ight=romancing
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #16,488
  • Mar 25, 2013 5:21pm Mar 25, 2013 5:21pm
Quoting emmanuel7788
OK, download this one name "Price Action AHA_0 2V2 mod" at this link:
http://www.forexfactory.com/showthre...ight=romancing
Thanks - will do.
  • #16,489
  • Edited 9:38pm Mar 25, 2013 9:25pm | Edited 9:38pm
Quoting emmanuel7788
AUDNZD week 13:

Yesterday soem of us talked about AUDNZD...it went sideway for 4-hour periods.
there was some increase interest during NY session after London close.
I will follow PA and see if it will move above 1.2535, that would be a good sign of bull trend.

Edit: take a look at D...
Why do you believe this would be the case?
  • #16,490
  • Mar 25, 2013 10:35pm Mar 25, 2013 10:35pm
Quoting pay tribute
Why do you believe this would be the case?
I believe I need to follow the PA to see if it would trade above the weekly pivot WPv 1.2535.

There is a good potential of an W IB breakout while week 12 went into consolidation and form a IB of week 11.
The D shows a nice 3-bar bullish reversal with a nr4IB in it, and this is sitting on a fib-r 50% of March rally.
While the H4 show several 4-hour period consoldaition since NY open on Sunday 24 Mar. And with H4 nr4Ib showing, I am prepared for any false breakout.
I believe I must have a Plan A and a Plan B for this trading AUDNZD this week. A Plan C would be for the "Let Profit Run".

Attached below is a H4 showing how price structure with the WPv.
You need to work on your own D and H4 to learn if you see all the things I wrote above.

Trade Well.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDNZD week 13 26 Mar H4 WPv.png Size: 26 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #16,491
  • Edited 11:14pm Mar 25, 2013 10:51pm | Edited 11:14pm
Hi,

Here is an example how I traded EJ yesterday NYO using the Tokyo_5H range.
There was a nice break of the TOK_5H Low and re-tested, follow with a H1 IB breakout.
PA traded below the WPv 123.22 and strong move below BRN 123.00
Attached Image (click to enlarge)
Click to Enlarge Name: EJ 25 Mar H1 trade 26-3-2013 1-39-50 PM.png Size: 53 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #16,492
  • Mar 25, 2013 11:21pm Mar 25, 2013 11:21pm
Quoting Jackub
Hello Traders,
there is situation which makes me worry all the time. I have two accounts from different brokers, one offers me exact GMT time, and other GMT +2. It makes differences in charts between them. Sometimes differences are irritating bcoz different size and even color of candles, but ok I can live with it, still have to play what can see on the screen. But what about with PIVOTs, daily open close? Does make sense to keep daily open/close, pivots etc. according broker time, or adjust it always to US close ???
Any advice will be appreciated
Jacek...
GM all,
Some time ago I asked this question, and unfortunately nobody answered this yet, conclusion is, probably this is a kind of "dumb" question ....
please I know who I am and will take any answer with no offence, just need to know how to manage this problem
Jacek
JacekPreserve Precious Capital
  • #16,493
  • Mar 25, 2013 11:43pm Mar 25, 2013 11:43pm
Hi,

Can anybody help, is this a combination that just occurred or is it considered as touching?
The candlestick has basically just started out on the picture.
first picture complete zoom capability, second brought out twice.

I have no objective on getting the business its the combination i'm inquisitive about.

Many thanks
  • #16,494
  • Mar 26, 2013 12:01am Mar 26, 2013 12:01am
Quoting Jackub
GM all,
Some time ago I asked this question, and unfortunately nobody answered this yet, conclusion is, probably this is a kind of "dumb" question ....
please I know who I am and will take any answer with no offence, just need to know how to manage this problem
Jacek
Hi, im no expert but i keep a standard pepperstone demo account apart from my live account for charting and analysis.Both my brokers use newyork 5 day close charts. I guess it doesnt matter whichever timezone/closing time chrt you use , but dont look at two different timezones and get confused . Stick to a single platform for your decisions.
  • #16,495
  • Mar 26, 2013 12:04am Mar 26, 2013 12:04am
Here are the 5 exellent entries yesterday on almost all euro pairs. 700 pips. I was able to catch 280 pips.
Took a loss on A/N.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: an.gif Size: 29 KB
Click to Enlarge Name: ea.gif Size: 24 KB
Click to Enlarge Name: ec.gif Size: 24 KB
Click to Enlarge Name: ej.gif Size: 24 KB
Click to Enlarge Name: eu.gif Size: 24 KB
  • #16,496
  • Mar 26, 2013 12:09am Mar 26, 2013 12:09am
Quoting Winner1245
Here are the 5 exellent entries yesterday on almost all euro pairs. 700 pips. I was able to catch 280 pips.
Took a loss on A/N.
And just a thought ,
A minimum of 2R and maximum of 4R was acheivable .
  • #16,497
  • Mar 26, 2013 12:10am Mar 26, 2013 12:10am
Quoting maxrip34
Hi everyone,

I'd like some feedback from the more successful traders out there.

One thing I don't recall seeing is talk of the difference between brokers that use data with a New York close candles and those that don't. It makes a big difference on the charts, mostly for those that trade the 4hr and Daily. With 5-day candles (5 vs 6 candles per week) you don't get the small Sunday candle and that changes what your candles look like, especially at turns in the market. I've attached the same 4hr euro chart from different brokers so you can...
Quoting Jackub
Hello Traders,
there is situation which makes me worry all the time. I have two accounts from different brokers, one offers me exact GMT time, and other GMT +2. It makes differences in charts between them. Sometimes differences are irritating bcoz different size and even color of candles, but ok I can live with it, still have to play what can see on the screen. But what about with PIVOTs, daily open close? Does make sense to keep daily open/close, pivots etc. according broker time, or adjust it always to US close ???
Any advice will be appreciated
Jacek
Quoting Jackub
GM all,
Some time ago I asked this question, and unfortunately nobody answered this yet, conclusion is, probably this is a kind of "dumb" question ....
please I know who I am and will take any answer with no offence, just need to know how to manage this problem
Jacek
Hi,

'dumb' people ask dumb question.
smart people also ask 'dumb' question.
'dumb' people also ask smart questions.
smart people keep asking same smart question.

which are you? you decide.

Answer : CONSISTENCY

You are the trader and trading is your business.
What brokers do with their computer server time and the data feed they get from banks is their business.
You mind your own business. Your broket mind their own business.

You decide what your trading business hours are. So you must decide which hour is the start of your trading day.
You must decide which day is the first trading day of your trading week.

I decided that Monday GMT00 when Tokyo open is the start of day. And Monday is the first day of the week.
So I keep to this start of day and time GMT0000.

If there are a few Sunday traded hours, I make these part of the previous week becasue my start of week is my Monday GMT0000.
If Sunday open with a price gap, that is also last week between NY' Friday close and Sunday open.
My Weekly pivot is based on Monday Tokyo GMT0000 open.
My Daily pivot is based on everyday start at GMT000 Tokyo open.
My Week and Day Open High Low and Close are also based on the same.
My PASR is also based on the above.

Simply, I stick to this for consistency even when I have other brokers with another server time. It does not bother me because I do all my ananlysis using a broker with server time GMT0. I trade the price.

Hope this answer your question.

Trade Well.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #16,498
  • Mar 26, 2013 12:13am Mar 26, 2013 12:13am
Quoting Winner1245
Hi, im no expert but i keep a standard pepperstone demo account apart from my live account for charting and analysis.Both my brokers use newyork 5 day close charts. I guess it doesnt matter whichever timezone/closing time chrt you use , but dont look at two different timezones and get confused . Stick to a single platform for your decisions.
Thanks Winner,
I can do that, but still problems remain, daily open?? mine is different then Emmanuel's, Yours, Pivot levels, based on what?? my broker end of the day or US Close?? Is there any rules about it?? Still it looks for me like very basic issue
Jacek
JacekPreserve Precious Capital
  • #16,499
  • Mar 26, 2013 12:21am Mar 26, 2013 12:21am
Quoting Winner1245
Hi, im no expert but i keep a standard pepperstone demo account apart from my live account for charting and analysis.Both my brokers use newyork 5 day close charts. I guess it doesnt matter whichever timezone/closing time chrt you use , but dont look at two different timezones and get confused . Stick to a single platform for your decisions.
Hi winner

See price moves on different terminals with different time of day's closing.Have a look to your H1 chart's formation on all terminals it would be same,the differnce of OHLC candle you see on D chart.So there is no need to analysis all terminals you need analysis only one of them and place order all platform in same manner.

frank
  • #16,500
  • Mar 26, 2013 12:24am Mar 26, 2013 12:24am
Quoting frank.david
Hi winner

See price moves on different terminals with different time of day's closing.Have a look to your H1 chart's formation on all terminals it would be same,the differnce of OHLC candle you see on D chart.So there is no need to analysis all terminals you need analysis only one of them and place order all platform in same manner.

frank
i use the second one for demo.
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