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Trading Price Levels

  • #101
  • Apr 1, 2013 8:19pm Apr 1, 2013 8:19pm
Quoting cku
Tnx Sam for ur reply I love this Thread i have to study it more cheers
yeah,we all need to study it more, backtesting,forwardtesting,using charts other brokers,testing another entry or exits ect.ect.
i want to 'study' more the major levels using the mini levels,we have 6 mini levels on each major level,so what i did in two years is not enough,currency pairs change theyr behaviour for certain ammount of time,i.e. current major levels can be very good for 2012 but not for 2013,i think we need atleast 10 years of backtest results for each mini level (by shuffling major levels 6 times) and the same with medium levels
Money is made by sitting, not trading. Jesse L. Livermore
  • #102
  • Apr 1, 2013 8:28pm Apr 1, 2013 8:28pm
Quoting biDc
Hey sam, It's interesting to find a thread like this. I'm glad to see someone has been using this successfully. In an effort to make my trading life easier, I have been flirting with the idea of trading by price levels. Currently, I am back-testing price levels in the xx00 and xx50 with a rule set that is very similar to yours. Very excited to see this thread progress forward.
thanks bidc,
yes there are many variations of level trading,trading round numbers,quarter numbers or even major numbers with 1000 pips distance....this is a bit different,these levels are 'found' in relationship to the swing-strenght for each pair,therefore different from each other,you will see it clearly when you place only the mini level on charts,i think you got the idea and hope you will do participate to make it better
Money is made by sitting, not trading. Jesse L. Livermore
  • #103
  • Apr 2, 2013 7:59am Apr 2, 2013 7:59am
TY for your tread Sam
It`s great
what is your language???
  • #104
  • Apr 2, 2013 9:46pm Apr 2, 2013 9:46pm
Quoting Vitalisimus
TY for your tread Sam It`s great what is your language???
hi vitalismus,
i speek mongolian and a little bit german
Money is made by sitting, not trading. Jesse L. Livermore
  • #105
  • Apr 3, 2013 12:05pm Apr 3, 2013 12:05pm
Is this right for a buy
how about that Trendline
what do u think?
Attached Image (click to enlarge)
Click to Enlarge Name: [EURJPY,H4]_2013-04-03_17-37-44.png Size: 35 KB
  • #106
  • Apr 3, 2013 5:18pm Apr 3, 2013 5:18pm
my stoploss was hit on the above trade
  • #107
  • Apr 3, 2013 8:44pm Apr 3, 2013 8:44pm
I still took anoda trade lets see how dis would run
  • #108
  • Apr 3, 2013 9:02pm Apr 3, 2013 9:02pm
Quoting cku
Is this right for a buy how about that Trendline what do u think? {image}
hello cku,
1.your major level distance seems not to be 240 pips,this distances are different for each pair please see post 1
2.your medium levels are not drawn,119.58 isnt a major level for me,but it can vary depending on your broker
3.lets say 119.18 is a major level on your chart,then the next upper level would be 121.58 and the next lower level 116.78
4.this candle you show on your chart thouched and closed above level, then you could place a buy @this level with [email protected] and [email protected]
5.if you enter directly after candle close then your sl should be atleast 118.38
6.i dont make big haedache about trendlines in that case,but if they overlap with level then yes
please see the charts:
1.chart with my levels
2.this chart zoomed out to see the next lower level
3.chart with your levels
4.zoomed out
Attached Image(s) (click to enlarge)
Click to Enlarge Name: ej1.png Size: 35 KB
Click to Enlarge Name: ej2.png Size: 36 KB
Click to Enlarge Name: ej3.png Size: 32 KB
Click to Enlarge Name: ej4.png Size: 34 KB
Money is made by sitting, not trading. Jesse L. Livermore
  • #109
  • Apr 3, 2013 9:10pm Apr 3, 2013 9:10pm
sorry,mistake buy writing
Attached Image (click to enlarge)
Click to Enlarge Name: ej3.png Size: 36 KB
Money is made by sitting, not trading. Jesse L. Livermore
  • #110
  • Apr 3, 2013 9:39pm Apr 3, 2013 9:39pm
let see how dis would run
Attached Image (click to enlarge)
Click to Enlarge Name: [EURJPY,H4]1.png Size: 37 KB
  • #111
  • Apr 3, 2013 10:18pm Apr 3, 2013 10:18pm
Thanks Sam69 for your response/Correction and taking time to put me thru
i really appreciate.
I have updated my chart now
i hope its okay
Learning forex is not easy but i refuse to give up i am not quitting
because i know i will succeed @last.
Attached Image (click to enlarge)
Click to Enlarge Name: [EURJPY,H4]Updated.png Size: 19 KB
  • #112
  • Apr 3, 2013 10:21pm Apr 3, 2013 10:21pm
a bit larger
Attached Image (click to enlarge)
Click to Enlarge Name: [EURJPY,H4]Updated..png Size: 15 KB
  • #113
  • Apr 3, 2013 10:23pm Apr 3, 2013 10:23pm
Quoting cku
Learning forex is not easy but i refuse to give up i am not quitting because i know i will succeed @last.
This is the right attitude. Believe in what you are doing and never give up.
MT4/MT5 EAs/Indicators/Alerts coder
  • #114
  • Apr 3, 2013 10:36pm Apr 3, 2013 10:36pm
Thanks FerruFX

How about this Chart hope am write with the analysis
Attached Image (click to enlarge)
Click to Enlarge Name: [EURJPY,H4]Updated..png Size: 36 KB
  • #115
  • Apr 4, 2013 12:05am Apr 4, 2013 12:05am
Quoting cku
Thanks FerruFX How about this Chart hope am write with the analysis {image}
chart looks good,but you should zoom out your chart and see whether these levels are ok for your broker and make some backtests
however according to your chart its not time to sell,see picture below...and see what happens right now...
Attached Image (click to enlarge)
Click to Enlarge Name: ej.png Size: 90 KB
Money is made by sitting, not trading. Jesse L. Livermore
  • #116
  • Apr 4, 2013 11:06pm Apr 4, 2013 11:06pm
Hi Sam,
I have been following this thread from the start....credit to you.
I have a bit problem regarding candle time for different broker.If we look at the UJ comparing between IBFX and FxPro it give different info (correct me if I'm wrong)...so which one to follow? Hope you or anyone can explain.
TQ
Attached Image(s) (click to enlarge)
Click to Enlarge Name: uj ibfx.gif Size: 25 KB
Click to Enlarge Name: uj-fxpro.gif Size: 25 KB
  • #117
  • Apr 4, 2013 11:47pm Apr 4, 2013 11:47pm
Quoting Lion King
Hi Sam, I have been following this thread from the start....credit to you. I have a bit problem regarding candle time for different broker.If we look at the UJ comparing between IBFX and FxPro it give different info (correct me if I'm wrong)...so which one to follow? Hope you or anyone can explain. TQ
This is normal for H4 charts if the brokers don't have the same server time.
MT4/MT5 EAs/Indicators/Alerts coder
  • #118
  • Apr 5, 2013 1:43am Apr 5, 2013 1:43am
Quoting Lion King
Hi Sam, I have been following this thread from the start....credit to you. I have a bit problem regarding candle time for different broker.If we look at the UJ comparing between IBFX and FxPro it give different info (correct me if I'm wrong)...so which one to follow? Hope you or anyone can explain. TQ {image} {image}
hi,
yes i said it often that its only for IBFX chart and it can or should vary by other brokers,therefore for other broker charts we could or should have another levels for major and medium levels,we must make research and backtests
i use IBFX and have adjusted levels for them but its not perfect yet,i will make some backtests for these pairs and see whether the actual levels should be adjusted/finetuned or not...however the mini levels are ok for IBFX charts and they remain...
see IBFX chart below...
Attached Image (click to enlarge)
Click to Enlarge Name: uj.png Size: 80 KB
Money is made by sitting, not trading. Jesse L. Livermore
  • #119
  • Apr 5, 2013 1:48am Apr 5, 2013 1:48am
Quoting FerruFx
This is normal for H4 charts if the brokers don't have the same server time.
yes,of course
btw. how can i make a backtest for these levels,i can make it manualy but it takes time,i would make a backtest for 10 years or so,i see you are coder for ea's and think you could know a better way?,thanks!
Money is made by sitting, not trading. Jesse L. Livermore
  • #120
  • Apr 5, 2013 2:14am Apr 5, 2013 2:14am
Quoting sam69
yes,of course btw. how can i make a backtest for these levels,i can make it manualy but it takes time,i would make a backtest for 10 years or so,i see you are coder for ea's and think you could know a better way?,thanks!
The only way to backtest automatically is to do it with an EA.
MT4/MT5 EAs/Indicators/Alerts coder
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