DislikedHi. Here is the template for the 5Min off the Zone strategy. {file}Ignored
4 Hour Strategy (MACD)
- #25,605
- Edited 7:37pm Apr 17, 2013 10:08am | Edited 7:37pm
[quote=trademin;6606188]I have been away for quite some time, I am now short on AUDUSD.-a nice oportunity-Still in. 
EDIT SL moved to 1.03283 closed trade with gain.-I guess the ride is not quit done yet.be looking for another entry. :-)
beeing short on AUDUSD:
I am back in, nice place to spot as entry, making a TC also. Price still in the larger consolidation covering aproximatively range from 1.058 to 1.020
will move the SL down.
EDIT: SL moved to 1.3300
EDIT: divergence on macd, moved SL too close (1.03160), got hit. still good gain :-)
looking for a better place to short still some room down
EDIT SL moved to 1.03283 closed trade with gain.-I guess the ride is not quit done yet.be looking for another entry. :-) beeing short on AUDUSD:
I am back in, nice place to spot as entry, making a TC also. Price still in the larger consolidation covering aproximatively range from 1.058 to 1.020
will move the SL down.
EDIT: SL moved to 1.3300
EDIT: divergence on macd, moved SL too close (1.03160), got hit. still good gain :-)
looking for a better place to short still some room down
Yvon
- #25,608
- Apr 17, 2013 3:11pm Apr 17, 2013 3:11pm
[quote=naustingfx;6614416]*********************************************************************************************************
Awesome advice my friend. I am trying hard to apply these little tricks to my own trades. Thanks for posting - I guess it must be very difficult being part of a thread if you also have other business to look after.
I ( WE ) value your comments & look forward to seeing a couple of your charts for further guidance.
Cheers my friend
Awesome advice my friend. I am trying hard to apply these little tricks to my own trades. Thanks for posting - I guess it must be very difficult being part of a thread if you also have other business to look after
.I ( WE ) value your comments & look forward to seeing a couple of your charts for further guidance.
Cheers my friend
- #25,609
- Apr 17, 2013 3:17pm Apr 17, 2013 3:17pm
My view: The comprehension of ATR is important: it is an average of range covered by candles for a period of time. If you set ATR at 20 it means that ATR will give you average range covered by 20 candles. If you set it at 5 then it is for 5 candles. If you set it at 1 then you will have result for each candle that you see. You will see then, on the lower part of your chart, the result of ATR by seeing spikes in the indicator window. Each spike representing one candle's range. If you draw a horizontal line on the top of those spikes, you will get...
Nice posts BTW. Thanks.
Happy Pips
- #25,610
- Apr 17, 2013 5:15pm Apr 17, 2013 5:15pm
A Winner - A Loser & a great Learning Curve
Hi Gang - Just sharing a couple of trades with you from last Night. Even though these are only in Sim account, they can still hurt when you make a mess like I did. I guess that the practice account is where we should make these kinds of stuff-ups though ?
The EU H1 & GU H4 sent me a trick message to test me. Generally this pair move in sync ( not all the time - but most times ). I got mixed messages unfortunately but now I have the benefit of hindsight - I can try to make sure I don't get trapped like this again.
Euro 1st
Pros - Recent candles show strong Bulls in residence even with top wicks
- 21 good slope upward
- Consolidation phase with plenty of small candles including 5 dojis warning something could happen shortly
- Price returned to 21 twice but could not close lower
- Big ( almost Engulfing ) Bull Candle indicating to me that trend could continue up past recent high
- Macd turned back up off Zero Line
Cons - D/Top with previous one being a PinBar Reversal signal
- Big Round Number ( BRN ) will act as solid Resistance
- HTF all indicated PA trending down.
I did not complete my own basic analysis on this one - entry was made against a host of warning flags. Lesson Learnt
2nd Trade following
Hi Gang - Just sharing a couple of trades with you from last Night. Even though these are only in Sim account, they can still hurt when you make a mess like I did. I guess that the practice account is where we should make these kinds of stuff-ups though ?
The EU H1 & GU H4 sent me a trick message to test me. Generally this pair move in sync ( not all the time - but most times ). I got mixed messages unfortunately but now I have the benefit of hindsight - I can try to make sure I don't get trapped like this again.
Euro 1st
Pros - Recent candles show strong Bulls in residence even with top wicks
- 21 good slope upward
- Consolidation phase with plenty of small candles including 5 dojis warning something could happen shortly
- Price returned to 21 twice but could not close lower
- Big ( almost Engulfing ) Bull Candle indicating to me that trend could continue up past recent high
- Macd turned back up off Zero Line
Cons - D/Top with previous one being a PinBar Reversal signal
- Big Round Number ( BRN ) will act as solid Resistance
- HTF all indicated PA trending down.
I did not complete my own basic analysis on this one - entry was made against a host of warning flags. Lesson Learnt
2nd Trade following
- #25,611
- Apr 17, 2013 5:47pm Apr 17, 2013 5:47pm
And Now for the Good News
The Pound
Recent bars unable to close above BRN 1.5400
Current PA blocked by 38 Fib from 2 Jan ( Year High so far ) & 365 ma as resistance
Large Bear candle smashed through both the 8 & 21 indicating strength down
Even looking at the overall picture again as this goes to print - I can also see a H & S forming with this current action completing the pattern. This would have given me further confidence in an entry to go short on this one.
In hindsight ( great thing
) i could have switched down to the H1 to see PA smash through all of the ma's in 1 hit plus have the added signal of the H1 Macd breaking through Zero. This earlier entry was around 12 pips better off than my entry on the H4.
I think that what this teaches me today , is to concentrate and complete my learning based off the H4 charts 1st - otherwise, I am inclined to get excited at all the smaller time frame signals without doing my HOMEWORK properly. Hope this helps someone else as well.
Happy Day everyone
The Pound
Recent bars unable to close above BRN 1.5400
Current PA blocked by 38 Fib from 2 Jan ( Year High so far ) & 365 ma as resistance
Large Bear candle smashed through both the 8 & 21 indicating strength down
Even looking at the overall picture again as this goes to print - I can also see a H & S forming with this current action completing the pattern. This would have given me further confidence in an entry to go short on this one.
In hindsight ( great thing
) i could have switched down to the H1 to see PA smash through all of the ma's in 1 hit plus have the added signal of the H1 Macd breaking through Zero. This earlier entry was around 12 pips better off than my entry on the H4.I think that what this teaches me today , is to concentrate and complete my learning based off the H4 charts 1st - otherwise, I am inclined to get excited at all the smaller time frame signals without doing my HOMEWORK properly. Hope this helps someone else as well.
Happy Day everyone
- #25,614
- Edited 9:35am Apr 18, 2013 7:31am | Edited 9:35am
Hi, I thank you for explaining what ATR is. But can I do without it for now as I think I should concentrate on mastering the MACD strategy before getting involved in to many things like ATR. It sort of confuses me. I have been trading this strategy for 2 years and find not success. I don't know what have I done wrong and I hope someone can help me. Already I am feeling hopeless with life, with forex and day time job not going well.
As I just wrote, nothing new. Indeed Phillip Nel, talked about ATR, in different words, but he did talk about ATR. I don't remember when he mentioned that, but it is a tool that he mentioned in the past. The way he explained it helps me where to put my SL. As I mentioned to you, you are getting to it. The reasoning and the comments you have made, about the trade and SL are in the right path, keep the good work.
Any comments welcome,
Have a nice day,
Yvon
- #25,615
- Apr 18, 2013 1:15pm Apr 18, 2013 1:15pm
Hi Yvon - really love the "Trampoline" analogy.
Thanks binnie for your expressive comment!...When I have a possibility to find a good "analogy" to express something, I just do it! that one fit so well!
Yvon
- #25,617
- Apr 18, 2013 6:52pm Apr 18, 2013 6:52pm
[quote=Fuiyong;6616208]I have taken these trade. Can someone tell me if these are if my analysis is sound. Please...... and thanks.
Hi Fuiyong - sounds like you need a dose of Happiness buddy. You are in the right place and from the look of your charts , you are getting closer to that success you are searching for. It definitely aint easy but what Phillip has given us here is the tools to create success. All we gotta do is put the pieces together and practice - practice -practice. Keep re-reading the lessons and 1 day ( soon ) that Lightbulb will flick on
Your Euro trade looks like it gave you a winner. Well done - I can see why you entered . Trend up, Bullish Mood ( above 89 ), PA turned back by VBRN
( 1.3000), Smallish bars bouncing along this new support towards the 21 , Macd rolled over to give additional confirmation. My chart slightly different to yours but mechanically the same. I did not play this one or even look at it as I was still in my Pound trade. I am reviewing it for you based solely on "after the fact" analysis but agree there was a good chance to take a few pips that were offered. My candles allow around 36 -40 pips with similar stop.
I have attached my charts showing a zoomed out shot where I try to see where am placed in the market right now and then a shot to describe the entry area. Hope it helps give you a bit of visual support .
Hi Fuiyong - sounds like you need a dose of Happiness buddy. You are in the right place and from the look of your charts , you are getting closer to that success you are searching for. It definitely aint easy but what Phillip has given us here is the tools to create success. All we gotta do is put the pieces together and practice - practice -practice. Keep re-reading the lessons and 1 day ( soon ) that Lightbulb will flick on
Your Euro trade looks like it gave you a winner. Well done - I can see why you entered . Trend up, Bullish Mood ( above 89 ), PA turned back by VBRN
( 1.3000), Smallish bars bouncing along this new support towards the 21 , Macd rolled over to give additional confirmation. My chart slightly different to yours but mechanically the same. I did not play this one or even look at it as I was still in my Pound trade. I am reviewing it for you based solely on "after the fact" analysis but agree there was a good chance to take a few pips that were offered. My candles allow around 36 -40 pips with similar stop.
I have attached my charts showing a zoomed out shot where I try to see where am placed in the market right now and then a shot to describe the entry area. Hope it helps give you a bit of visual support .
- #25,618
- Apr 18, 2013 7:36pm Apr 18, 2013 7:36pm
For You Fuiyong
I have had a chance to look at your Aussie trade now and offer my 2cents. I am guessing you are still in this trade so just wanted to give you my take on whether I would have entered or not. Like I said in previous post, I was already in my Pound trade so was not looking at this currency. My picture is also a little different to your one because of broker used but basically PA is very similar.
There are a few very good reasons to take this Long and I list them on my chart. Phillip has indicated that Counter trend trades back in to the 21 ma are acceptable so you had every confidence in your entry and good on you for taking action on your analysis to hunt down the 21. For me personally though, the strong recent run down and the presence of those large red candles would be enough for me to stay away. I am swaying towards Yvon's view that we could see a further run down so Shorts are where I will be watching unless a Huge Standout CounterTrend forms.
Good luck with this one for you - hope it can swing back up enough to give you another winner
I have had a chance to look at your Aussie trade now and offer my 2cents. I am guessing you are still in this trade so just wanted to give you my take on whether I would have entered or not. Like I said in previous post, I was already in my Pound trade so was not looking at this currency. My picture is also a little different to your one because of broker used but basically PA is very similar.
There are a few very good reasons to take this Long and I list them on my chart. Phillip has indicated that Counter trend trades back in to the 21 ma are acceptable so you had every confidence in your entry and good on you for taking action on your analysis to hunt down the 21. For me personally though, the strong recent run down and the presence of those large red candles would be enough for me to stay away. I am swaying towards Yvon's view that we could see a further run down so Shorts are where I will be watching unless a Huge Standout CounterTrend forms.
Good luck with this one for you - hope it can swing back up enough to give you another winner
- #25,619
- Apr 19, 2013 11:47pm Apr 19, 2013 11:47pm
hello everyone,
im new here and im new im forex too. i just came across this strategy bout 4 months ago. i didnt study it though
. now after many frustrating days on finding the one" i came across here again . and i had alook. funny thing is the 1 that i ignored is now the one thats giving me hope to go on
thank to philip for sharing this strategy
my question is there a chatroom available fo us newbies to share our ideas and to learn in realtime? for someone like me it would be very helpful
thanks
im new here and im new im forex too. i just came across this strategy bout 4 months ago. i didnt study it though
. now after many frustrating days on finding the one" i came across here again . and i had alook. funny thing is the 1 that i ignored is now the one thats giving me hope to go onthank to philip for sharing this strategy
my question is there a chatroom available fo us newbies to share our ideas and to learn in realtime? for someone like me it would be very helpful
thanks
It looks like we might have a nice opportunity on AUDUSD with re-tracement to 21EMA and if market starts going towards 89SMA it'll be even better! Looking at D1 I notice a nice round top forming there that, if undisturbed, would be a perfect example and trade
EURAUD might make a good trade with price slightly retracing towards 21EMA, might be twice as much because of price consolidation happening in the 1.274 and 1.261 range:
Anyone else has spotted potential entries on other pairs?
EURAUD might make a good trade with price slightly retracing towards 21EMA, might be twice as much because of price consolidation happening in the 1.274 and 1.261 range:
Anyone else has spotted potential entries on other pairs?
Those that can't, teach, and those that can, do.
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