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Trading is as simple as ABCD

  • #1,161
  • Jul 29, 2014 9:03pm Jul 29, 2014 9:03pm
Quoting LITEchild
{quote} ...you're welcome George! I have been travelling on the csm road too for quite a while, and it's been quite interesting( and slippery!) to say the least. Whatever you feel like sharing on your journey, pls feel free to, I'm open to learn from others too . Trade safe my friend.
Yes a very slippery road indeed Would love to share one of these days when I'm less busy, and we can all learn from each other.

This is what I currently play with and try to manually pick consistent top 3 and bottom 3. Few trades but less stressful until I try to force a trade I'm off but will be back in another 3 - 4 hours.

Thanks once again my friend, and trade safe too.

Shalom


George
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  • #1,162
  • Jul 30, 2014 1:06am Jul 30, 2014 1:06am
Good Morning one and all, so lets see what we can make of todays LO and hopefully will be around for NYO too today from start to finish!!

News first and its an interesting one with not much apart from the Germany prelim CPI which is announced piece by piece throughout the day apparently so will probably give us a few moves to work with hopefully. Can't see anything to tip toe around too much today.

Overnight trenders usual suspects in EURNZD and GBPNZD but not very strong just a 11 reading on my 5 min TT so not a great deal but will keep an eye on it.

As for our 1 min TT's well almost completely flat so we are starting from a level playing field this morning will be interesting to see how the relevant strengths appear throughout the morning.

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Lets see how it goes???
Feel the Fear and do it anyway!!!
  • #1,163
  • Jul 30, 2014 1:20am Jul 30, 2014 1:20am
Quoting 919gilead
{quote} Yes a very slippery road indeed Would love to share one of these days when I'm less busy, and we can all learn from each other. This is what I currently play with and try to manually pick consistent top 3 and bottom 3. Few trades but less stressful until I try to force a trade I'm off but will be back in another 3 - 4 hours. Thanks once again my friend, and trade safe too. Shalom George {image}

Morning Goerge

Yes relative strength is one enormous advantage which makes Forex trading unique from other instruments, none other give us such a handy measure do they?

Have you tried my little strength Indy coded by my good friend Ted?? I reckon its great as its so simple, yet effective, sits top right corner and shows strength as a table from top to bottom. Trade the top 2 against the bottom 2 gives you top 4 pairs. You can adjust its sensitivity too with the maperiod input. It works on MA's so the smaller the ma you use the more sensitive it is. I tend to use 100 because I'm on 1 mins all the time but try different settings see how you get on?
What I like most about it is it will tell you the relative strength of the timeframe its sitting on so I can just change timeframe and it instantly tells me whats happening on that timeframe.

Anyway here it is see what you think???
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File Type: ex4 Clive's Strongest Weakest Indicator.ex4   13 KB | 499 downloads
Feel the Fear and do it anyway!!!
  • #1,164
  • Jul 30, 2014 1:34am Jul 30, 2014 1:34am
Quoting clivepackham
So another good day in my books apart from that one mad moment that cost me 10 pips, never should of happened if I'd stuck to my entry rules. Hope Mr V's not reading this otherwise I've got another bollocking coming my way.
Hate to be so predictable but
  • #1,165
  • Jul 30, 2014 1:36am Jul 30, 2014 1:36am
Quoting LITEchild
{quote} Here ya go Vantage. Got it here somewhere on FF. Understanding the right settings w.r.t timeframes and interpreting the readings is another matter entirely! Wish you the best. {file} {file}
Thanks lets see if it helps.
  • #1,166
  • Jul 30, 2014 1:47am Jul 30, 2014 1:47am
Quoting Vantage
{quote} Hate to be so predictable but

Ha Ha

How about this one though this was a better entry but a bit slow so gone to BE quickly if it survives great if not try again...
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Feel the Fear and do it anyway!!!
  • #1,167
  • Jul 30, 2014 1:54am Jul 30, 2014 1:54am
Grabbed a quick handful there as 1.8075 a strong bit of 15 min resistance might take a couple of go's to get through there,
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Feel the Fear and do it anyway!!!
  • #1,168
  • Jul 30, 2014 2:01am Jul 30, 2014 2:01am
EURJPY moving nicely up could be a nice B&R of 137.00
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Feel the Fear and do it anyway!!!
  • #1,169
  • Jul 30, 2014 2:12am Jul 30, 2014 2:12am
AUD weakness right across the board at the moment but as AUD is one of the strongest on daily chart, are they setting us up for a fall????? Get it ??? "Fool"???
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  • #1,170
  • Jul 30, 2014 2:21am Jul 30, 2014 2:21am
Perfect buy setup but it just don't feel right to me to buy the the weakest/strongest currency???? I'm talking daily charts....
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Feel the Fear and do it anyway!!!
  • #1,171
  • Jul 30, 2014 2:23am Jul 30, 2014 2:23am
Quoting clivepackham
{quote} Morning Goerge Yes relative strength is one enormous advantage which makes Forex trading unique from other instruments, none other give us such a handy measure do they? Have you tried my little strength Indy coded by my good friend Ted?? I reckon its great as its so simple, yet effective, sits top right corner and shows strength as a table from top to bottom. Trade the top 2 against the bottom 2 gives you top 4 pairs. You can adjust its sensitivity too with the maperiod input. It works on MA's so the smaller the ma you use the more sensitive...
Thanks Clive I will give it a trial

I'm already testing the Top 8 Trenders and will add this too

Shalom
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  • #1,172
  • Jul 30, 2014 2:27am Jul 30, 2014 2:27am
I'll give it one quick go as its such a good setup but going to BE quickly and I'll GTFO if it turns on me thats for sure....
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Feel the Fear and do it anyway!!!
  • #1,173
  • Jul 30, 2014 2:35am Jul 30, 2014 2:35am
Quoting LITEchild
{quote} ...you're welcome George! I have been travelling on the csm road too for quite a while, and it's been quite interesting( and slippery!) to say the least. Whatever you feel like sharing on your journey, pls feel free to, I'm open to learn from others too . Trade safe my friend.
Hi LITEchild,

Took my first trade testing the SM but don't want to clog Clive's thread with another system since I don't trade the M1 TF, so I posted on the Currency Index Trading thread. But trade closed for just few pips as the pair dropped sharply as soon as I entered and has since retraced to my entry post. I'm going for a snooze and will be back during US session.

Shalom
Low Risk Low Stress High Reward High Probability Trades
  • #1,174
  • Jul 30, 2014 2:36am Jul 30, 2014 2:36am
Knew it was too good to be true but I did get in a bit too early my new trailing entry EA isn't quite right as putting pending order above current price instead of last closed candle, but will sort that out shortly.

Also its like I've been saying about our continuation trades with the 15 min CCI overbought and sloping down from a very overbought area nearly +400 in this case, I just don't like it. Much prefer to sell this so will wait for it to set up as a sell and try to get my money back.

London was setting us up big time there for a sell so lets see if we can jump on board for some bigger pips????
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Feel the Fear and do it anyway!!!
  • #1,175
  • Jul 30, 2014 2:46am Jul 30, 2014 2:46am
GBP weakness across the board
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  • #1,176
  • Jul 30, 2014 2:50am Jul 30, 2014 2:50am
I'm not convinced by this show of GBP weakness either to be honest no real push downs, just wimperings really so gonna leave it to sort itself out a bit and see a clear winner...

Time for my morning cuppa I think, any one for tea????
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Feel the Fear and do it anyway!!!
  • #1,177
  • Jul 30, 2014 3:02am Jul 30, 2014 3:02am
Now this I like!!! EURAUD going down nicely , if I get a sensible pullback I will definately give this a go!!!
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Feel the Fear and do it anyway!!!
  • #1,178
  • Jul 30, 2014 4:12am Jul 30, 2014 4:12am
Another loser there and a touch bigger than I like but just thought it was going to turn but it didn't so had to take a hit in the end.

Net losing morning of about 10% so not my best morning but to be honest I know why. There was not really any good trends just suggestions of trends, my 1 min TT indy didn't go much above 20 all morning, so that tells a story on its own. My biggest filter is it must be a strong trend and none of those were. Also I started to search for trades when there weren't any to shout about, that old itchy finger syndrome. Got to learn to sit on my hands when nothings happening.

Also I started to think longer term again expecting EURAUD to go down not up. Must ditch any idea that I know where the market is going and just trade what sets up, simple as that, just follow the money and don't analyse it too much. Just go with the flow.

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Thats me done for this morning, is it me or are these London opens a bit quiet recently??? Well will try to get back in time for NYO and see if I have any more luck there.
Feel the Fear and do it anyway!!!
  • #1,179
  • Jul 30, 2014 7:29am Jul 30, 2014 7:29am
NYO analysis bit of news at 13.30 then a clear run until FOMC at 1900 this evening. Will wait up for news to pass then have a look whats what? See there's not been a lot of action this morning and no currency dominating the 5 min TT so no real bias with London today for New York to pick up, maybe GBPNZD , GBPUSD but thats it.

1 min irrelevant at this time just prior to news as sure it will all change if news release any good. Will wait to see how the 1 mins line up after the news.
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  • #1,180
  • Jul 30, 2014 7:37am Jul 30, 2014 7:37am
Looking back I can see LO passed very quietly today with very little follow through and no dominating currency, no wander I had a shite morning this morning, considering how little follow through there was I'm surprised I didn't lose more?? Something to think about here is its not worth jumping on every little move one way or the other . Better to wait for a real move to develop, strong AB move then try to catch the pullback. Maybe I should take more notice of the strength of the trend with the reading on my TT indy??

just a thought...
Feel the Fear and do it anyway!!!
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