Dragon Riders GBP/JPY

im watchig 1.06063 to sell

sell orders noted 1.0572

Edit:

Yes, that is the area I have found with fibonacci too!!!

EA might even go to 1.3600?

going to bed ranging heavy accross all GBP crosses

Gn8 ^^

Draghi on the cards now ... fasten your seatbelts and make

fucking internet again again

Was fr Penner ... hast doch extra schon gewechselt ... rufst am besten nochmal an und sagst denen, entweder sie bringen es zum Laufen, oder du machst von deinem 14 tgigen Widerrufsrecht Gebrauch. Bei mir lief das Internet mal ab dem Tag wie geschmiert fr die nchsten drei Jahre, als ich es so handhabte lol

Oh, sorry for writing german ... just an advice to deal with local internet providers ... I will write some english here to make up for it since German language is not very much appreciated here!

maybe some support near 178.70...

hehe ... sounds like you handled it well there Hicks. At least for 3 years anyway.

retrace to 1.04871 possible or gap close again

yes, I told them to refrain from the contract instantly ... it is amazing how fast they suddenly could deliver what they had promised before! LOL

why do you trade with a fucking MT4 broker?

Inquiring minds want to know! With all you have said above?

What's wrong with MT4?

I'm scalping on MT4 only (smal account). But if internet is shit, all desks are shit

MT4 gets a really bad rap imho. But not because of the platform (I really like it myself) but more due to how some br0kers misuse it.

http://www.forexfactory.com/showthre...39#post8138339

I know, but why would one trade with a bucket shop?

Hi Schickeria,

thanks for response. I will address each topic:

a) I do know, why even Central Banks like the ECB have other data than Reuters, Dukascopy etc. I mean, they have 50 pip difference for the all time high. The reason is very simply:

They do not show in their charts the dailies high and low but the daily reference rate.

The reference rates are usually updated by 3 p.m. C.E.T. They are based on a regular daily concertation procedure between central banks across Europe and worldwide, which normally takes place at 2.15 p.m. CET.

So when using data we have to know, what the data is showing.


b) regarding the data from 1980:

1980 there simply was no EURO. All the data before 1999 are prone to faults, because all the data had to be back-calculated. How will one do that, when the Eurozone is ever evolving? Which countries would have been in the EURO before the starting date etc? Some data provider took the ECU for back-calculation, some data provider simply only inserted the DM at some time (which is the worst method of all). So take all quotes before 1999 with a grain of salt, or simply deal with the prices starting from 1999 for the robustness of your method.


c) "do not take data from XXX brokers"

That is like stating, that all brokers are not trustworthy. There are brokers, who have a very reliable data feed, like IB (who uses Netdanias interbank feed), or the one of Dukascopy, which is also known for one of the best sources for historical data.

So again: one needs to know the sources


d) btw: you did not answer the question about the sources of the 3 price/volume pics in your previous posting


e) how does one calculate volume profiles:

first, one sets a lookback span, say last 5 days. Then you divide the distance between high and low in this time-span into equal sized troughs. Alternatively you can set the trough value to 1 pip. Then you attribute the volume of each quote into its trough. Ready.

For someone who uses market profiles or especially volume profiles, the very high and the very low are not so crucial, because at this "spikes", where direction is changed, no one or only few could agree on price. So the troughs in that region are more or less empty, and a no-volume-zone or low-volume-zone has been created.

There where trade took place a lot or most, will result in highly filled troughs.

Price profiles as well as volume profiles have kind of expiry date. With time market memory will fade. One of the biggest reasons therefore is, that you will hardly find enough ruling market participants who hold positions older than 1-3 years. Such old profiles may have rather anecdotal value.

And again: when you calculate the profile from a well known reliable source, there is simply no problem. Even when some brokers try to play games at the crucial turning points, such can have little impact on short term profiles like the 8h profile or a daily profile, but can be neglected on higher term profiles.



f) since eons you are crying about the fraudulent brokers etc. What is the problem? If one method depends on the most accurate data, to the "pip"or "pipette", you should think a second time about the fact, that Forex is no centralized market place, and such even in interbank market conditions you may see differences from time to time.

When a method depends on a few pips up or down, it is not robust, it is fragile. And again: it is simply not useful to trade it in Forex environment.....

do not understand the reasoning for even scalping on an MT4 account. Scalping should be the worst to do on MT4

Schickeria explained it yesterday nicely, and I think Chris linked the video in the response to you.


MT4 is nice for some calculations, indicators etc., but I would never trade with it. Never......

MT4 was designed to give the broker all advantages.....