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  • #44,661
  • Nov 24, 2014 4:32am Nov 24, 2014 4:32am
Short NZDUSD from 4hr chart
Attached Image (click to enlarge)
Click to Enlarge Name: NZDUSDH4.png Size: 43 KB
  • #44,662
  • Nov 24, 2014 4:32am Nov 24, 2014 4:32am
Buy GBPAUD from 4hr chart
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Click to Enlarge Name: GBPAUDH4.png Size: 38 KB
  • #44,663
  • Nov 24, 2014 4:34am Nov 24, 2014 4:34am
Quoting sknight1
{quote} So you close a position once you see a a LL, on the next smaller time frame, I assume???? Any thoughts on my eurcad long?
No, I'm talking about H1, m15 will often make LLs due to retracements, which will fake you out of a trade if taken too seriously. I'll drop my trade as soon as TDI turns, but most times I will just place a 50 pip TP. Frankly I've seldom let my profits run longer than 50 pips, so I don't have a well-backtested plan as to when to exit. I'm merely operating based on concepts that seem to make sense, still learning that part. It just seems that I have to, because I leave so much on the table at the end of my trading week, that in the end I could have doubled my profits but didn't because I was too impatient or sometimes chicken.

Well you've got a good H4 TDI and all, but what worries me (and what made me go EA and not Ecad) was the size of those bull candles prior to FF and LO. Sure, you have a decent momentum candle right before LO (the frankfurt candle), but it's not really enough for me to go long. At best it will take forever to climb. On a positive note, H4 looks like it will not be moving any lower soon, and German Ifo should have given way to some bullishness, but who knows. Don't let this post affect your decision, if you entered it means you had your reasons and you should place all your beliefs in yourself, do your own analysis. I'm not saying mine is the way to go, I'm just telling you my thoughts on it
  • #44,664
  • Edited 4:47am Nov 24, 2014 4:36am | Edited 4:47am
Quoting erelation
Short AUDUSD from 4hr chat {image}
Hi erelation, did you take the trade on the 4H? Or, perhaps you took it on the 1H? If its the 4H, just a heads up - HL & massive RSI type divergence on the D1 ...
  • #44,665
  • Nov 24, 2014 4:36am Nov 24, 2014 4:36am
WDays ....



Good morning!!!
WE BRAKE FOR NOBODY...
  • #44,666
  • Nov 24, 2014 4:42am Nov 24, 2014 4:42am
Quoting WDays
{quote} No, I'm talking about H1, m15 will often make LLs due to retracements, which will fake you out of a trade if taken too seriously. I'll drop my trade as soon as TDI turns, but most times I will just place a 50 pip TP. Frankly I've seldom let my profits run longer than 50 pips, so I don't have a well-backtested plan as to when to exit. I'm merely operating based on concepts that seem to make sense, still learning that part. It just seems that I have to, because I leave so much on the table at the end of my trading week, that in the end I could...


Awesome, thank you. But, for now I will defer to those with more positive experience in trading than I've had thus far.

I'll give the trade some time and see what it does. The hours between two hours after LO and the NY open are s-l-o-w. And it's now 4:45 in the very AM for me... and I have yet to get any sleep. So, I should probably nap for a bit. lol
  • #44,667
  • Nov 24, 2014 4:43am Nov 24, 2014 4:43am
Quoting lmjaguar
WDays .... Good morning!!!
Good morning bro, hope you're doing well

Quoting sknight1
{quote} Awesome, thank you. But, for now I will defer to those with more positive experience in trading than I've had thus far. I'll give the trade some time and see what it does. The hours between two hours after LO and the NY open are s-l-o-w. And it's now 4:45 in the very AM for me... and I have yet to get any sleep. So, I should probably nap for a bit. lol
Yeah, my trade isn't going anywhere either at the moment, but I'm sure it will pick up soon. Have faith, in the worst case you will lose a few bucks, who cares. There's a saying in poker that you learn more from losing than from winning.
  • #44,668
  • Nov 24, 2014 4:47am Nov 24, 2014 4:47am
Quoting griffinssoul
{quote} Well done toledoFX - thats still a 1:2 trade... nothing wrong with that
Thank you, griffinssoul! I agree with WDays that this pair is still having a good potential and it may move much more higher today. Also it's monday and on mondays PA often moves one way with no retracements, as Phx62 noticed, and it continues Asia move. But... Patience is my weakness for now, and my goal for today was 40-50 pips, so when there was a chance, i took 40 and went out. Also momentum was not good for me to hold the trade more. But that's my view only.
Good luck and have a lot of green pips
  • #44,669
  • Nov 24, 2014 4:48am Nov 24, 2014 4:48am
I give my best,hard week .... DEMO ....



Green pips to all ....

WE BRAKE FOR NOBODY...
  • #44,670
  • Nov 24, 2014 4:49am Nov 24, 2014 4:49am
Quoting toledoFX
{quote} Thank you, griffinssoul! I agree with WDays that this pair is still having a good potential and it may move much more higher today. Also it's monday and on mondays PA often moves one way with no retracements, as Phx62 noticed, and it continues Asia move. But... Patience is my weakness for now, and my goal for today was 40-50 pips, so when there was a chance, i took 40 and went out. Also momentum was not good for me to hold the trade more. But that's my view only. Good luck and have a lot of green pips
Sometime your frame of mind - being positive - is more important than number of pips . Many thanks for the information!
  • #44,671
  • Nov 24, 2014 4:50am Nov 24, 2014 4:50am
Quoting toledoFX
{quote} Thank you, griffinssoul! I agree with WDays that this pair is still having a good potential and it may move much more higher today. Also it's monday and on mondays PA often moves one way with no retracements, as Phx62 noticed, and it continues Asia move. But... Patience is my weakness for now, and my goal for today was 40-50 pips, so when there was a chance, i took 40 and went out. Also momentum was not good for me to hold the trade more. But that's my view only. Good luck and have a lot of green pips
Well done on your trade by the way Keep them coming!
  • #44,672
  • Nov 24, 2014 4:54am Nov 24, 2014 4:54am
Quoting griffinssoul
{quote} Hi erelation, did you take the trade on the 4H? Or, perhaps you took it on the 1H? If its the 4H, just a heads up - HL & massive RSI type divergence on the D1 ...

Hi Griffinssoul,

I took it on the 4hr chart. The 4hr candle just close a while ago on my broker platform.

Thanks for the head up... it is 2nd candle from the setup candle.
  • #44,673
  • Nov 24, 2014 4:58am Nov 24, 2014 4:58am
Quoting WDays
{quote} Good morning bro, hope you're doing well {quote} Yeah, my trade isn't going anywhere either at the moment, but I'm sure it will pick up soon. Have faith, in the worst case you will lose a few bucks, who cares. There's a saying in poker that you learn more from losing than from winning.

I think that's a saying from "life", as well as poker. I just learned how to play poker this year (I'm in my mid-40's). Play money only poker but, it's had a positive impact on my trading.... only playing hands that I think I can win, and folding everything else.
  • #44,674
  • Nov 24, 2014 5:03am Nov 24, 2014 5:03am
Quoting griffinssoul
{quote} Hi erelation, did you take the trade on the 4H? Or, perhaps you took it on the 1H? If its the 4H, just a heads up - HL & massive RSI type divergence on the D1 ...

Look okay on 4hr chart... but TSI flat at 1hr chart.... decided to close at small loss... -2.7pip
Attached Image(s) (click to enlarge)
Click to Enlarge Name: AUDUSDH1.png Size: 33 KB
Click to Enlarge Name: AUDUSDH4.png Size: 42 KB
  • #44,675
  • Nov 24, 2014 5:09am Nov 24, 2014 5:09am
Quoting L14myj
{quote} hi lorbax, how to get the +pips on the trade window? thanks!
Sorry, completely missed this post.
here below you can find my modified version of the pipsmeter, this have two new tweaks:

1) when you have no trade open it will show ' -- ' , and not 0.0 (so you know you're flat and not on BE with some trade)
2) you can select colors for gain/losing pips (e.g red for losing, green for winning ...)

hope it's helpful to anyone...
Attached File(s)
File Type: mq4 pipsometer_decimal.mq4   4 KB | 355 downloads
Lorenzo
  • #44,676
  • Nov 24, 2014 5:10am Nov 24, 2014 5:10am
Quoting erelation
{quote} Look okay on 4hr chart... but TSI flat at 1hr chart.... decided to close at small loss... -2.7pip {image} {image}
Hi erelation, this would have been a good trade 1H/4H - take the trade on 1H TF with support from 4H... that way you side step what is happening on the D1 TF... (theres 24 1H candles but only 6 4H candles to the D1... for this reason Lastingwell says to place less importance on the next higher TF... apart from S&R of course...)
  • #44,677
  • Nov 24, 2014 5:12am Nov 24, 2014 5:12am
Quoting griffinssoul
{quote} Hi erelation, this would have been a good trade 1H/4H - take the trade on 1H TF with support from 4H... that way you side step what is happening on the D1 TF... (theres 24 1H candles but only 6 4H candles to the D1... for this reason Lastingwell says to place less importance on the next higher TF... apart from S&R of course...)

Hi Griffinssoul,

I have taken a look at the 30min TF as well... then decided to be out for this trade.... TDI is below 32 level
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDM30.png Size: 30 KB
  • #44,678
  • Nov 24, 2014 5:13am Nov 24, 2014 5:13am
Quoting sknight1
{quote} Crap, I didn't notice that the H4 was under the 32. I was focusing on the fact that it had stepped up over the trade signal line. Thank you, your feedback is greatly appreciated. I'm always open to constructive criticism. I wouldn't call myself a scalper..... yet. I'm just trying to get to consistently profitable. I'll look to label my trading type later. lol
Everyone here helps each other, some straight to the point (like me sound like cristicising but not my intention, , other play soft...) I am getting better and I hope all that got doubts feel comfortable to share and learn together.
Appreciation is the key to wealth and happiness
  • #44,679
  • Nov 24, 2014 5:16am Nov 24, 2014 5:16am
Quoting Bizzzle
{quote} Hi mate, can you post chart? what make you think it is "petering out already"? Price has slow at 13944 because of some HTF resistance, if we can clear that, then trade looks good
@sknight1

Ok 13944 clear lets see!
Give yourself a chance and trade it like it's layed out...
  • #44,680
  • Nov 24, 2014 5:18am Nov 24, 2014 5:18am
Quoting erelation
{quote} Hi Griffinssoul, I have taken a look at the 30min TF as well... then decided to be out for this trade.... TDI is below 32 level {image}
Hi erelation, Wdays describes this well (a few post ago I think...) don't be fooled by the lower TF's (lower than the one you are trading...) as they will retrace more often (if you take one strong move up, say, on the 1H TF it may well be many smaller zig-zag type moves on the lower TF's - this can be describe more technically using Elliot Wave theory but I will not go there ... LOL!... too complicated...)
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