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Trading Price Levels

  • #121
  • Apr 5, 2013 6:07am Apr 5, 2013 6:07am
Hi Sam,

I have been following you method, and it works!
I would like to know your experience with smaller time frame, let say, M15 or M5.

Thank you.
Pursue the best and share to others!
  • #122
  • Apr 5, 2013 6:37am Apr 5, 2013 6:37am
  •  FerruFx
  • Joined May 2007 | Status: MT4/MT5 EAs/Indicators/Alerts coder | 6,542 Posts | Online Now
Quoting kawangkoan
I would like to know your experience with smaller time frame, let say, M15 or M5. Thank you.
For lower TFs, you will have to lower the levels distance.
MT4/MT5 EAs/Indicators/Alerts coder
  • #123
  • Apr 5, 2013 7:44am Apr 5, 2013 7:44am
Quoting FerruFx
For lower TFs, you will have to lower the levels distance.
Thank You very much FerruFx for your quick response.
Would you please give some number?

Thanks again.
Pursue the best and share to others!
  • #124
  • Apr 5, 2013 7:50am Apr 5, 2013 7:50am
  •  FerruFx
  • Joined May 2007 | Status: MT4/MT5 EAs/Indicators/Alerts coder | 6,542 Posts | Online Now
Quoting kawangkoan
Thank You very much FerruFx for your quick response. Would you please give some number? Thanks again.
I don't have numbers. You must visual backtest and see with different values which are the best according to the TF and symbol you are looking at.
MT4/MT5 EAs/Indicators/Alerts coder
  • #125
  • Apr 5, 2013 8:11am Apr 5, 2013 8:11am
Quoting FerruFx
The only way to backtest automatically is to do it with an EA.
thats exactly what i thought,can you please code an ea ,so we can backtest for longer period different levels,i would test major levels on each mini level,that means i must 6 different tests for each pair
Money is made by sitting, not trading. Jesse L. Livermore
  • #126
  • Apr 5, 2013 8:18am Apr 5, 2013 8:18am
Quoting kawangkoan
Hi Sam, I have been following you method, and it works! I would like to know your experience with smaller time frame, let say, M15 or M5. Thank you.
thats what i would do if i have more time for trading,i scalped sometimes with mini levels on m5 and m15,but there you cannot do like this method,i use mostly pa,just throw mini levels on your chart and see,you can use pa or additional filters,indicators or whatever,mini levels are on post 1 btw
Money is made by sitting, not trading. Jesse L. Livermore
  • #127
  • Apr 5, 2013 8:21am Apr 5, 2013 8:21am
Quoting kawangkoan
Thank You very much FerruFx for your quick response. Would you please give some number? Thanks again.
yeah,already done
Money is made by sitting, not trading. Jesse L. Livermore
  • #128
  • Apr 5, 2013 8:24am Apr 5, 2013 8:24am
Thank you Sam and FerruFx.
Pursue the best and share to others!
  • #129
  • Apr 5, 2013 8:31am Apr 5, 2013 8:31am
Quoting kawangkoan
Thank you Sam and FerruFx.
youre welcome,and please let me know if you find a way to trade it on lower tf's
Money is made by sitting, not trading. Jesse L. Livermore
  • #130
  • Apr 9, 2013 8:23pm Apr 9, 2013 8:23pm
Hi Sam,
Is it correct the setup?
Attached Image (click to enlarge)
Click to Enlarge Name: ej.gif Size: 26 KB
  • #131
  • Apr 10, 2013 3:12am Apr 10, 2013 3:12am
Quoting Lion King
Hi Sam, Is it correct the setup? {image}
yes,sl for your sell after candle close should be @next medium level (130.78) otherwise your rr is<1:1,but your pending sell should have sl @next major level (132.38),did you catch the long trades? (from 120.38 to 122.78, from 122.78 to 125.18, from 125.18 to 127.58 and from 127.58 to 129.98)
Money is made by sitting, not trading. Jesse L. Livermore
  • #132
  • Apr 10, 2013 3:26am Apr 10, 2013 3:26am
ok good....at least I know my understanding is correct.
I only can manage to catch some of the long rally long trade due to some reason.
thanks for the reply
  • #133
  • Apr 10, 2013 8:58am Apr 10, 2013 8:58am
Hello Sam looking from this chart
how does one know where to start counting the right ccandle that finished above or below the chart
Attached Image (click to enlarge)
Click to Enlarge Name: [EURJPY,H4].png Size: 16 KB
  • #134
  • Apr 10, 2013 9:21am Apr 10, 2013 9:21am
  •  FerruFx
  • Joined May 2007 | Status: MT4/MT5 EAs/Indicators/Alerts coder | 6,542 Posts | Online Now
Quoting cku
Hello Sam looking from this chart how does one know where to start counting the right ccandle that finished above or below the chart
The candle to look at is the one that first touched/crossed the level after a run from the previous level. Closed above, you look for a buy, closed below, you look for a sell.
MT4/MT5 EAs/Indicators/Alerts coder
  • #135
  • Apr 10, 2013 10:04am Apr 10, 2013 10:04am
Quoting cku
Hello Sam looking from this chart how does one know where to start counting the right ccandle that finished above or below the chart {image}
hello,
...start counting is ...there is no strart counting,you have drawn your major levels,so look on your major levels (4h timeframe) and candles,if any candle is at any level look to the left where is it came from and wheter it closes above or below,
if price came from a major level and closes below current level BY FIRST TOUCH you will sell but if it closes above current level you will buy,see picture,i have drawn it on your chart
Attached Image (click to enlarge)
Click to Enlarge Name: ej.png Size: 124 KB
Money is made by sitting, not trading. Jesse L. Livermore
  • #136
  • Apr 10, 2013 10:06am Apr 10, 2013 10:06am
Tnx ferrufx
in that case am i right here
Attached Image (click to enlarge)
Click to Enlarge Name: [EURJPY,H4].png Size: 34 KB
  • #137
  • Apr 10, 2013 10:10am Apr 10, 2013 10:10am
Quoting cku
Tnx ferrufx in that case am i right here {image}
Money is made by sitting, not trading. Jesse L. Livermore
  • #138
  • Apr 10, 2013 10:14am Apr 10, 2013 10:14am
tnx for ur promt reply it was well explained
in dat case i woun't tell ur wife u are trading again
cheers
  • #139
  • Apr 10, 2013 10:16am Apr 10, 2013 10:16am
Quoting cku
tnx for ur promt reply it was well explained in dat case i woun't tell ur wife u are trading again cheers
, thank you....
Money is made by sitting, not trading. Jesse L. Livermore
  • #140
  • Apr 10, 2013 10:21pm Apr 10, 2013 10:21pm
I'm curious how to trade using smaller time frame such as M15,M30 or even H1.
My idea is this:
As we know EJ (H4) is Sell TP @ 127.58 so we go to smaller timeframe and take only Sell signal using the levels given...I probably consider H1 as medium level and smaller than H1 as mini level.
How about that....any comments pls.

TQ
Attached Image (click to enlarge)
Click to Enlarge Name: uj m15.gif Size: 29 KB
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