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Help Me Establish The GbpUsd After Dinner Club 40 replies

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  • #11,041
  • Nov 3, 2013 3:46pm Nov 3, 2013 3:46pm
Quoting jpadvisor
quote=drzakir123;7066927]{quote} hey milam,PT,and infinitus btw i am not talking about positive or negative mental attitude rather what i am saying is when i look at the price and pattern ones focus should be on what one not going to do than what one going to do.below few examples a, I am going to be rich involving in the market....this via positiva activity. b, I am going to be rich by not blowing my account. this is via negativa activity c,i will be rich using full leverage ...via positiva activity d,i will keep my leverage very low to become...
ur on the right track and I totally agree with you
Allah has permitted trade and has forbidden interest [koran]
  • #11,042
  • Nov 3, 2013 5:29pm Nov 3, 2013 5:29pm
EURUSD, H4, 2013 November 04
Swinging Trade
1.35637-1.34938
Profit: +3%
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  • #11,043
  • Nov 3, 2013 8:25pm Nov 3, 2013 8:25pm
uphill battle EU
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  • #11,044
  • Nov 3, 2013 9:25pm Nov 3, 2013 9:25pm
channel line @ 344x hit

can we go up?
  • #11,045
  • Edited 9:47pm Nov 3, 2013 9:33pm | Edited 9:47pm
Quoting infinitus
channel line @ 344x hit can we go up?
I have added more positions I am expecting it to reach 364x, now when the market has taken the stops below 470.

ps..I don't know why but the number 720 is keep coming in my mind.let see what happen,time will tell
Allah has permitted trade and has forbidden interest [koran]
  • #11,046
  • Nov 3, 2013 9:55pm Nov 3, 2013 9:55pm
Quoting drzakir123
{quote} I have added more positions I am expecting it to reach 364x, now when the market has taken the stops below 470.

Big hurdle is between around 3496-3557, and the around 3602. At least from Volume analysis. 3647 and 3712 are then the next marks
  • #11,047
  • Edited Nov 4, 2013 12:19am Nov 3, 2013 10:08pm | Edited Nov 4, 2013 12:19am
Quoting infinitus
{quote} Big hurdle is between around 3496-3557, and the around 3602. At least from Volume analysis. 3647 and 3712 are then the next marks
glad .3472/61 been taken out c hw hi she goes...
  • #11,048
  • Nov 4, 2013 12:37am Nov 4, 2013 12:37am
Quoting infinitus
{quote} Big hurdle is between around 3496-3557, and the around 3602. At least from Volume analysis. 3647 and 3712 are then the next marks


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ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #11,049
  • Nov 4, 2013 1:30am Nov 4, 2013 1:30am
Hello, everyone!
I have difficulty which point analysis to show. I decided to start a two-day swing chart.
Early this morning, a break below 3473 and this led to DownTrend. Swing (trend) is 389 pips for 6 days.

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What is the probability of reversal? We can see from the table. Approximately 55% probability. I can only say that this is "normal" dynamics of the currency pair.
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"You have to BE before you can DO, and DO before you can HAVE." Zig Ziglar
  • #11,050
  • Nov 4, 2013 1:52am Nov 4, 2013 1:52am
Quoting ffleo
{quote} {image}

Hi FFleo,

what is the time span you collect the market profiles from?
  • #11,051
  • Nov 4, 2013 1:56am Nov 4, 2013 1:56am
Quoting infinitus
{quote} Hi FFleo, what is the time span you collect the market profiles from?
180 days, the longest I can use for 4hr chart in ThinkorSwim. The market profile is generated by the Platform (TPO study).

TDAmeritrade might not have sever in your country. Another option is to use SierraCharts for a reasonable monthly fee ($27 for volume by price study, 45 for TPO profile). Sierracharts has their data server offering data from many brokers. Their data from FXCM is free.
ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #11,052
  • Nov 4, 2013 2:06am Nov 4, 2013 2:06am
Quoting ffleo
{quote} 180 days, the longest I can use for 4hr chart in ThinkorSwim. The market profile is generated by the Platform (TPO study). TDAmeritrade might not have sever in your country. Another option is to use SierraCharts for a reasonable monthly fee ($27 for volume by price study, 45 for TPO profile). Sierracharts has their data server offering data from many brokers. Their data from FXCM is free.
the follow is chart by sierra charts, 4hr chart, 9 month market profile data (volume by price). I subscribed for $27 per month and I only get the volume by price study. The data is free from FXCM on sierra charts server.

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ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #11,053
  • Nov 4, 2013 2:08am Nov 4, 2013 2:08am
audusd 1H
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Wherever you go, there you are.
  • #11,054
  • Nov 4, 2013 2:08am Nov 4, 2013 2:08am
Quoting godim
Hello, everyone! I have difficulty which point analysis to show. I decided to start a two-day swing chart. Early this morning, a break below 3473 and this led to DownTrend. Swing (trend) is 389 pips for 6 days. {image} What is the probability of reversal? We can see from the table. Approximately 55% probability. I can only say that this is \"normal\" dynamics of the currency pair. {image}

Hi Godim,

on my Murrey Math charts, price wise we had with the (nearly) touch of 3428 a much higher probability for a reversal/retracement.

3428 is 0/8 on M15, H1, H4 and daily. On W1 it is 6/8


On M1 it run down 6 Octave lines, on H1 it run down nearly 7 line, on H4 it ran down 7 lines, on D1 it ran down 7 lines, too. Weekly had seen a ran down of 3 lines

Should price run down again now for an extended move, odds are, that we likely get the rejection at the 3367.


BTW: we do have virgin POC's @ 3356 (weekly) and 3350 (daily)
  • #11,055
  • Nov 4, 2013 2:36am Nov 4, 2013 2:36am
Quoting ffleo
{quote} 180 days, the longest I can use for 4hr chart in ThinkorSwim. The market profile is generated by the Platform (TPO study). TDAmeritrade might not have sever in your country. Another option is to use SierraCharts for a reasonable monthly fee ($27 for volume by price study, 45 for TPO profile). Sierracharts has their data server offering data from many brokers. Their data from FXCM is free.

Hi Ffleo,

I have an Ameritrade account too, so I can have TOS.

But I am fine with my solution in Excel. :-)


To only have 180 days is like to only have the half story. What if, really heavy volumen took place shortly before this 180 days?

Last days I got several questions regarding market profiles, and the main question was: what is the appropriate time span to collect the data?

Some use static daily, others static weekly, others static monthly, and others like you to set the time span to a predetermined value like 180 days.


Well, this is a serious question, because I think static solutions for dynamic markets is a wrong approach. Seidelmeyer in his book gave now answer to this question, when I remember correctly. On some page he suggested, to start a new profile, when a POC is broken nand the movement starts to the other side of the distribution curve. I am unhappy with this approach.


I tell you what I do:

I think that price movement is fractal. That means, movement on smaller waves will fit into movements of waves of higher degree (Elliott Wave). See also fractal understanding of markets by Murrey.

A second point to consider is, that there might be something what mathematicians call "market memory". Market remembers events in the past, but over time this levels may get somewhat insignificant.

This considerations we can incorporate in our market profiles, by simply making two steps:


a) use multi time frame

b) in each time frame get a market profile, where the time span of the market profile is a rolling period


So when some event is rolled out of a time span in one TF, it will be reflected in the next higher TF. If it is rolled out of the higher TF, it will be again reflected in the next higher TF. This sets the events in perspective.

Now the work for an analyst is, to try to make a sense out of the different TF's


Now one question remains: what time span should we use to look back in each TF?


For Murrey Math we use an integer of 8. Murrey advised to choose either 16, 32 or 64, but not more than 64.


In trading currencies, I found the 32 to produce the best results, if one want to work all the time with the same lookback period. Murrey advised to switch between 16, 32 and 64 to see, which one would fit best. I tried this approach in the beginning but it was driving me mad LOL


So I took the 32 for my Murrey Math.

Later when I started to use Market profiles, after a while, I came to the conclusion, that it would make sense to collect the market profiles on the different TF's in accordance with Murreys approach. So I use a lookback period on each TF of 32 for Market profiles, too.


The question now, if this method (my method) is the appropriate one, I can not answer. It may be ONE solution for the problem. Maybe there are other solutions. Let me know :-)
  • #11,056
  • Nov 4, 2013 2:43am Nov 4, 2013 2:43am
Quoting milam
audusd 1H {image}
sell stop order placed @ 0.94813, SL @95.

Already short Audnzd with 3 push ups in the retracement (hourly)
Wherever you go, there you are.
  • #11,057
  • Nov 4, 2013 2:46am Nov 4, 2013 2:46am
Quoting infinitus
{quote} Hi Ffleo, I have an Ameritrade account too, so I can have TOS. But I am fine with my solution in Excel. :-) To only have 180 days is like to only have the half story. What if, really heavy volumen took place shortly before this 180 days? Last days I got several questions regarding market profiles, and the main question was: what is the appropriate time span to collect the data? Some use static daily, others static weekly, others static monthly, and others like you to set the time span to a predetermined value like 180 days. Well, this is...
Infy,

This mind of your cannot stay still.

Milam
Wherever you go, there you are.
  • #11,058
  • Nov 4, 2013 2:46am Nov 4, 2013 2:46am
Quoting infinitus
{quote} Hi Ffleo, I have an Ameritrade account too, so I can have TOS. But I am fine with my solution in Excel. :-) To only have 180 days is like to only have the half story. What if, really heavy volumen took place shortly before this 180 days? Last days I got several questions regarding

By the way, FFLeo, your 180 day market profile is like my "weekly" profile, where I look at the past 32 weeks (32 x 5 days = 160 days)
  • #11,059
  • Nov 4, 2013 2:49am Nov 4, 2013 2:49am
Quoting milam
{quote} Infy, This mind of your cannot stay still. Milam
When I was in Tuscany two two weeks ago I visited the Da Vinci Museum in the town of his birth, Vinci.

Man, I though, I have to catch up a bit in order to step into competition
  • #11,060
  • Nov 4, 2013 2:56am Nov 4, 2013 2:56am
Quoting infinitus
{quote} When I was in Tuscany two two weeks ago I visited the Da Vinci Museum in the town of his birth,Vinci. Man, I though, I have to catch up a bit in order to step into competition
Well, you did not play low this time.

And how was the local "booze" (including the Mona Lisa)?
Wherever you go, there you are.
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