Disliked{quote} Risky.... The 35/50 bounce already happened twice (this would be the 3rd). Also 35/50 are flat now.Ignored
the MA's were flat I was zoomed in and didn't notice
- #9,243
- May 15, 2013 2:52pm May 15, 2013 2:52pm
- | Joined Jun 2012 | Status: trade forex like a sniper | 2,419 Posts
is it a price scoop up? does it mean change in the trend? 
On my way to financial independence - if others can do it - I can do it
- #9,245
- May 16, 2013 3:19am May 16, 2013 3:19am
- | Joined Jun 2012 | Status: trade forex like a sniper | 2,419 Posts
On my way to financial independence - if others can do it - I can do it
Hello,
I'm a new trader and a fairly consistent one i must say........at losing
. I know it is all part and parcel of the journey and I'm learning from it well..hopefully. My biggest issue is my trading psychology, impulse trade/revenge trade/fear/greed.....you get the picture. What keeps me going is this notion I have that if I am able to become a trader that makes consistent profit it would mean that I would have at least gotten some of the above "bad things" under control which translates to increased self mastery. Yes I do believe there is such a thing as mastery over oneself and I would very much like to achieve that.
That is about it for my introduction, thank you for reading it. Great thread by the way and thank you to all who have been sharing. To get to my point...I am looking for some help with price constrainment. I'm still reading through the threads, printed out the PDFs and whatever I can, been reading them but for some reason I can't seem to wrap my head around the idea of what price constrainment is. I would really appreciate some elaboration on that part.
Many many thanks
I'm a new trader and a fairly consistent one i must say........at losing
. I know it is all part and parcel of the journey and I'm learning from it well..hopefully. My biggest issue is my trading psychology, impulse trade/revenge trade/fear/greed.....you get the picture. What keeps me going is this notion I have that if I am able to become a trader that makes consistent profit it would mean that I would have at least gotten some of the above "bad things" under control which translates to increased self mastery. Yes I do believe there is such a thing as mastery over oneself and I would very much like to achieve that. That is about it for my introduction, thank you for reading it. Great thread by the way and thank you to all who have been sharing. To get to my point...I am looking for some help with price constrainment. I'm still reading through the threads, printed out the PDFs and whatever I can, been reading them but for some reason I can't seem to wrap my head around the idea of what price constrainment is. I would really appreciate some elaboration on that part.
Many many thanks
I want more brain power!
- #9,247
- May 16, 2013 10:57am May 16, 2013 10:57am
- | Additional Username | Joined May 2013 | 724 Posts
Not sure if I understand what I've been reading correctly so I've attached a picture below in hopes for some guidance. I apologise for the basic nature of the questions as it has already been covered in the manuals and threads but I need to verify if my understanding is correct. Many thanks and appreciations.
Apologies for the mistake in the picture. It is the EUR/JPY 5m for today from the new release onwards
Apologies for the mistake in the picture. It is the EUR/JPY 5m for today from the new release onwards
I want more brain power!
- #9,248
- Edited May 17, 2013 3:28am May 16, 2013 8:56pm | Edited May 17, 2013 3:28am
Hi guys, I made us a simple Choros retrace EA. Only started using it today, so give it a go and see what you think.
(edited to attached the successful trade, automatically entered and closed 4 hours after I made this post)
Just drag it onto a chart and it will wait for a retrace to the 10 and enter for you. You set a SL and TP value, and it will automatically scale those to match the current timeframe and market amplitude. If you put it on a GBPUSD or EURUSD chart at the present time, it should be about 1:1, so a 10 pip take profit will equal 10 pips. For an H1 trade that would change to 22 pips, and for an M5 trade it would be 7 pips.
After you put it on a chart, you can change the timeframe and it will automatically adjust to the new timeframe. So if you put it on the M15 and then decide that an M5 retrace is going to work better, just change to M5 and the EA will change the SL and TP values for you.
It automatically calculates the lots as well (if you want it to), and enters at the appropriate size for your level of risk. You just choose what percentage of your account you want to risk if the stoploss gets hit, and it will do the rest. Otherwise, set it to fixed lot size and choose whatever you want.
It also creates a label object that states "Delete this to enter immediately", which if you delete it, will enter immediately with the appropriate TP and SL.
After it takes the trade it automatically removes itself from your chart, and it needs access to WinUser32.dll to do that, so enable external DLL calls.
Any feedback or improvements, let me have them
(edited to attached the successful trade, automatically entered and closed 4 hours after I made this post)
Just drag it onto a chart and it will wait for a retrace to the 10 and enter for you. You set a SL and TP value, and it will automatically scale those to match the current timeframe and market amplitude. If you put it on a GBPUSD or EURUSD chart at the present time, it should be about 1:1, so a 10 pip take profit will equal 10 pips. For an H1 trade that would change to 22 pips, and for an M5 trade it would be 7 pips.
After you put it on a chart, you can change the timeframe and it will automatically adjust to the new timeframe. So if you put it on the M15 and then decide that an M5 retrace is going to work better, just change to M5 and the EA will change the SL and TP values for you.
It automatically calculates the lots as well (if you want it to), and enters at the appropriate size for your level of risk. You just choose what percentage of your account you want to risk if the stoploss gets hit, and it will do the rest. Otherwise, set it to fixed lot size and choose whatever you want.
It also creates a label object that states "Delete this to enter immediately", which if you delete it, will enter immediately with the appropriate TP and SL.
After it takes the trade it automatically removes itself from your chart, and it needs access to WinUser32.dll to do that, so enable external DLL calls.
Any feedback or improvements, let me have them
- #9,249
- Edited May 17, 2013 2:11am May 16, 2013 11:34pm | Edited May 17, 2013 2:11am
Annnnnd.... successful EURAUD trade just now using RetraceBot(TM).
edit: So, this M5 and the M15 AUDUSD trade in the post above both had the same dollar profit. Even though they were on different timeframes, different currencies, and different number of pips, due to the dynamic scaling they end up exactly the same increase on my account.
edit: So, this M5 and the M15 AUDUSD trade in the post above both had the same dollar profit. Even though they were on different timeframes, different currencies, and different number of pips, due to the dynamic scaling they end up exactly the same increase on my account.
Not sure if I understand what I've been reading correctly so I've attached a picture below in hopes for some guidance. I apologise for the basic nature of the questions as it has already been covered in the manuals and threads but I need to verify if my understanding is correct. Many thanks and appreciations. Apologies for the mistake in the picture. It is the EUR/JPY 5m for today from the new release onwards {image}
You are allowed to fall but you are imposed to get up!
T
- #9,259
- May 21, 2013 5:10pm May 21, 2013 5:10pm
- Joined Mar 2009 | Status: I know that I know nothing | 2,780 Posts
@ Kostas1: Happy Nameday to you Kostas! Best wishes for Health and Wealth !
