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  • #18,661
  • May 3, 2013 8:53am May 3, 2013 8:53am
cfit,

i dont understand,
am i using the wrong candle sticks ???
  • #18,662
  • May 3, 2013 10:12am May 3, 2013 10:12am
Quoting Nellycopter
cfit, i dont understand, am i using the wrong candle sticks ???
no nelly you are not using wrong candlesticks.
Your chart is looking very similar to mine.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusdh4.png Size: 54 KB

most people here have more experience in forex than me so maybe they can help you out with your questions but as i have understood (and somebody please correct me if im wrong) different brokers can have different prices for one currency pair although this difference should not be very big.
brokers 4h open time can also be different.my broker has GMT time and i think yours as well. if somebody elses broker has GMT+1, 2 or 3 then of course their chart will look different because candles will open at different times but this is nothing to worry about.
about what i wrote before - using candlesticks together with HA candles can give you more information about the price. for example emmanuel often speaks about inside bar, outside bar, pop gun etc. he sees these with regular candlesticks and are impossible to see with line chart.
  • #18,663
  • May 3, 2013 10:57am May 3, 2013 10:57am
Quoting Cfit
{quote} no nelly you are not using wrong candlesticks. Your chart is looking very similar to mine.{image} most people here have more experience in forex than me so maybe they can help you out with your questions but as i have understood (and somebody please correct me if im wrong) different brokers can have different prices for one currency pair although this difference should not be very big. brokers 4h open time can also be different.my broker has GMT time and i think yours as well. if somebody elses broker has GMT+1, 2 or 3 then of course their...
Why not switch to 1h chart if you really want to confirm if those candle are the same. Every broker start their hourly candle at the turn of hour.

That said, dissapointing night for me. Sl at BE apparently is not a good idea. Trade was taken out and the price goes back up 140 pips. If only i convert my hourly trade to 4hour trade i would have had extra lunch money lol
Daniel
  • #18,664
  • May 3, 2013 11:04am May 3, 2013 11:04am
MISSED two trades. but told myself to stay out beforehand for unemployment reports

First trade

Price broke ranging asian session. (5HTO)
Price reached cluster zone(top yellow line) before retracing

Second trade

After price hit cluster zone, retracement back to test 200 ema
formation of Inside bar, small doji, and a pullback candle followed. (I dont know if the inside bar formation is valid because it was formed 3 hours before the price breakout.)
around time of unemployment report, price broke past resistance(daily high) and fib cluster.

all confirmed by tdi

any advice appreciated
Attached Image (click to enlarge)
Click to Enlarge Name: may 3 eur.jpy.h1 analysis.png Size: 69 KB
  • #18,665
  • May 3, 2013 11:20am May 3, 2013 11:20am
Quoting tenmilewalk
MISSED two trades. but told myself to stay out beforehand for unemployment reports First trade Price broke ranging asian session. (5HTO) Price reached cluster zone(top yellow line) before retracing Second trade After price hit cluster zone, retracement back to test 200 ema formation of Inside bar, small doji, and a pullback candle followed. (I dont know if the inside bar formation is valid because it was formed 3 hours before the price breakout.) around time of unemployment report, price broke past resistance(daily high) and fib cluster. all confirmed...
I took your 1st trade. My reasoning at that time was that huge bull candle. It broke the hourly range during tokyo session tdi and stoch confirmed. Also i knew that news will affect the trade. But at time of trade 1 it was still few hours from news so i felt safe to trade it. On the other hand if the news was 15 mins after that blu candle close, i would have avoided it.
Daniel
  • #18,666
  • May 3, 2013 11:43am May 3, 2013 11:43am
Quoting Greenb
{quote} I took your 1st trade. My reasoning at that time was that huge bull candle. It broke the hourly range during tokyo session tdi and stoch confirmed. Also i knew that news will affect the trade. But at time of trade 1 it was still few hours from news so i felt safe to trade it. On the other hand if the news was 15 mins after that blu candle close, i would have avoided it.
awesome. I should keep that in mind next time. it was 5 hours before the news release anyway. Otherwise I would have taken once it broke the 5H range as well. I cant wait until the day we can pull the trigger on the second trade like nothing. That would be another threshold reached in trading.
  • #18,667
  • May 3, 2013 1:04pm May 3, 2013 1:04pm
if there is 2 things i learned this week trading

1. there are always trades on 4h and its much safer than 1h trade
2. let the winner run (convert 1h trade to 4h trade)

just today alone there are 4 trades that could have been taken stress free
easily total-ing at 412 pips

and if those trade are taken with 1 lot each...well that's easily enough salary for the month. all in 1 day of trading.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: ej tdy 4h.gif Size: 45 KB
Click to Enlarge Name: gj tdy 4h.gif Size: 44 KB
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Daniel
  • #18,668
  • May 3, 2013 1:36pm May 3, 2013 1:36pm
Quote
and if those trade are taken with 1 lot each.

The problem is, with 1 or 10 Lot you would react completely different.

Of course the hint is, to NOT react completely different and take them as 0.01 Lot trades.
How to opt out annoying user signatures ??
  • #18,669
  • May 3, 2013 1:45pm May 3, 2013 1:45pm
Quoting Toranaga
{quote} The problem is, with 1 or 10 Lot you would react completely different. Of course the hint is, to NOT react completely different and take them as 0.01 Lot trades.
oh yea, i completely agree with that. however, the mentality that i have is that once i put these money into my brokerage account, i treat it as if i have lost all of it to begin with. of course some people may not agree with that but hey it works for me.
secondly, what i do when i trade is to change the profit/loss section to show pips and not $$$. it helps.

btw, congratzz on an even 1k post
Daniel
  • #18,670
  • May 3, 2013 1:54pm May 3, 2013 1:54pm
Quoting Greenb
{quote} oh yea, i completely agree with that. however, the mentality that i have is that once i put these money into my brokerage account, i treat it as if i have lost all of it to begin with. of course some people may not agree with that but hey it works for me. secondly, what i do when i trade is to change the profit/loss section to show pips and not $$$. it helps. btw, congratzz on an even 1k post
Press F11 to have only chart on the sreen, no pips no money can be seen, just pure PA...
JacekPreserve Precious Capital
  • #18,671
  • May 3, 2013 2:48pm May 3, 2013 2:48pm
Could someone please explain the "R" to me as price hit 2R
Is this some form of fib levels ?

Nelly
  • #18,672
  • May 3, 2013 2:57pm May 3, 2013 2:57pm
Quoting Nellycopter
Could someone please explain the "R" to me as price hit 2R Is this some form of fib levels ? Nelly
Its just Risk:Reward = 1, then its R, Risk Reward=2 its 2R and so on...
JacekPreserve Precious Capital
  • #18,673
  • May 3, 2013 3:05pm May 3, 2013 3:05pm
Quoting Nellycopter
Could someone please explain the "R" to me as price hit 2R Is this some form of fib levels ? Nelly

Inserted Video

Dr Van Tharp explaining R money managemet
JacekPreserve Precious Capital
  • #18,674
  • May 3, 2013 4:11pm May 3, 2013 4:11pm
Hi All

Have been a long time watcher of this thread.

Here is a trade I did today.

EURJPY

http://charts.mql5.com/1/472/eurjpy-...ari-uk-ltd.png


Might have been a little late on entry.

Had a TP1 of 72 pips which was hit and took out have the trade, moved my SL to BE at that point
and let the second half run with a TP2 of 144.

With London and Toyko closed on Monday not sure what will happen.

Regards


Blueman
  • #18,675
  • May 3, 2013 5:05pm May 3, 2013 5:05pm
Hi,

I have a technical question - how to attach my charts to my reply? I got error that my message is too long...
  • #18,676
  • May 3, 2013 5:05pm May 3, 2013 5:05pm
Quoting Fame of me
Hi, i want to show you my GJ trade from this week. I think, it was not the perfect way to hold it, but this time it worked. {image} My plan was to go to the Prev W Fib 127 but now i lost my nerves and close it. On h1 we reach now almost the Prev D Fib 127 and also the last high from the last week, yeah, so more reason why i have close it. {image} Maybe he go now higher BUT i am more then happy with my 180 pips

Hallo Fame of me,

Happy to see your post here and a good trade taken.

Did you see your D chart and see how the PA was playing the month of April?

In trending market type, the PA often break the Prev W High/Low and will target the Fibr- 127%. However, as market reached some point whenmarket make new highs, the weekly range get smaller, however, PA will still break the Prev W High/Low and looking for TP mid-point between the Prev W High/Low and the Fib-r127% is always good. ... usuall Fib +110% level roungly.

See my GJ D Line Chart below.
For study, use both Line chart to see the close price levels and draw your S&R. Then switch back to Candlstick or Bar chart see more details of PA.


GJ broke April high .. so next week, we expect to see more PA trades.

schönes Wochenende

mfg,
Attached Image (click to enlarge)
Click to Enlarge Name: GJ D Line Chart 4-5-2013 5-51-05 AM.png Size: 41 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #18,677
  • May 3, 2013 5:17pm May 3, 2013 5:17pm
Quoting croopskee
Hi, I have a technical question - how to attach my charts to my reply? I got error that my message is too long...
croopskee.

strange problem....how long is your post in words count?

anyway try again please.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #18,678
  • May 3, 2013 5:26pm May 3, 2013 5:26pm
Quoting emmanuel7788
{quote} croopskee. strange problem....how long is your post in words count? anyway try again please. regards,
I wanted to attach 3 screens with my trades from today with a short description, but I receive such a message: Your submission had the following errors:

The text that you have entered is too long (413555 characters). Please shorten it to 100000 characters long.
  • #18,679
  • May 3, 2013 5:33pm May 3, 2013 5:33pm
Quoting Blueman1887
Hi All Have been a long time watcher of this thread. Here is a trade I did today. EURJPY {image} Might have been a little late on entry. Had a TP1 of 72 pips which was hit and took out have the trade, moved my SL to BE at that point and let the second half run with a TP2 of 144. With London and Toyko closed on Monday not sure what will happen. Regards Blueman

Blueman1887,

Happy to see your post and a good trade taken.

You caught the bullet after it left the muzzle.

Good Trade +72pips. CONGRATS!

Jumping in during the APB 3rd candle is not a TMS H4 entry rule. But EJ is so volatile and it works when we see PA with strong momentum and weekly price swing around Prev W Fib 50% is a good way to trade. In any case, your trade was a strong test and re-test breakout of the Prev W Fib 50% (also BRN 129.00). That previous day ECB H4 candle cleared the mine field for your trade. Nicely taken.

Next week 130.70 ... TP for sure!

Good Trade.
Attached Image (click to enlarge)
Click to Enlarge Name: EJ Week 18 H4 3 May 4-5-2013 6-28-54 AM.png Size: 51 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #18,680
  • May 3, 2013 5:37pm May 3, 2013 5:37pm
Quoting croopskee
{quote} I wanted to attach 3 screens with my trades from today with a short description, but I receive such a message: Your submission had the following errors: The text that you have entered is too long (413555 characters). Please shorten it to 100000 characters long.

This one I really don't know why.
Try post one chart at a time.
If this doesn't work, PM the moderator and report this problem.

FF re-arranged something I am sure. The screen format looks new again.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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