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Higher Edge within a Single Candlestick

  • #21
  • Apr 3, 2015 11:47am Apr 3, 2015 11:47am
Quoting Neio
Armed with my intimate knowledge of 1HR GU candles I also like to know what is happening under the hood. Therefore I have a 1HR candle super-imposed on an M1 chart. This helps me to see the movement within each 1HR candle. {image}

is there any chance you share indicator on the picture
  • #22
  • Apr 3, 2015 12:13pm Apr 3, 2015 12:13pm
Quoting xoxo12
{quote} is there any chance you share indicator on the picture

This is the indicator...
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File Type: ex4 !SM_ADR Marker.ex4   12 KB | 1,813 downloads
  • #23
  • Apr 3, 2015 12:24pm Apr 3, 2015 12:24pm
Great Thread Neio. Keep It Up.

Quoting BillYon
Sis.yphus This is a VERY great tool... Thanks {image}
Glad you found it useful BillYon.

That pic and the pics in this post http://www.forexfactory.com/showthre...50#post8057050 are exactly what Neio is talking about.

For those wondering what this "edge" is called, I refer to it as the momentum affect. or as CP often referred to, Newtons 1st Laws of Motion.

I will be creating a thread in the rookie talk section containing many(20+) professional market studies that analyze this affect and many other aspects of the market in detail with actual statistics.

sis.
  • #24
  • Apr 3, 2015 12:31pm Apr 3, 2015 12:31pm
Quoting Sis.yphus
Great Thread Neio. Keep It Up. {quote} Glad you found it useful BillYon. That pic and the pics in this post http://www.forexfactory.com/showthre...50#post8057050 are exactly what Neio is talking about. For those wondering what this "edge" is called, I refer to it as the momentum affect. or as CP often referred to, Newtons 1st Laws of Motion. I will be creating a thread in the rookie talk section containing many(20+) professional market studies that analyze this affect and many other aspects of the market in detail with actual...
are you profitable using it ?
  • #25
  • Apr 3, 2015 12:36pm Apr 3, 2015 12:36pm
Quoting metta87
{quote} are you profitable using it ?

I use different method of "scales" or horizontal lines /open prices whatever you want to call it, but yes I am.

This year started very rough for me but I have turned it around drastically. I am not going to go into details on my trading results as this is not what this thread is about. If you are interested in this see my journal where I documented a $1500 account drawing down over 75%(before I properly tuned my system) and how I returned it back to profitable afterwards. I am also going to start a new journal to demonstrate some of my trading ideas with a new broker, oanda(FXCM has issues display more than 30 days of trade data in the explorer so I have removed the explorer as it couldnt show the true results). I am opening an Oanda account so the FF trade explorer will properly be able to display all of my trade data.

sis.

P.S. Remember guys, time only exist when we use it to measure or perceive something. Open prices do not need to be traditional, infact they can be at anytime & it wont make a difference. As shown in my "Why is every one losing? We should be Break Even At Best" thread, a H line is a H line, is a H line. It doesnt matter at all where they are on the chart one does not hold more weight than another...ever. Most people will disagree with this because they are S/R Traders and every one is told Support and Resistance are the best tool in the market but it has been statistically proven over years and years of price data.
  • #26
  • Apr 3, 2015 12:56pm Apr 3, 2015 12:56pm
Look at the candle wick statistics and trade accordingly if an edge can be found.
  • #27
  • Apr 3, 2015 1:16pm Apr 3, 2015 1:16pm
what a pointless thread
really ??
the PRICE is moving?
FUCK! i've missed something ...
  • #28
  • Apr 3, 2015 2:19pm Apr 3, 2015 2:19pm
Quoting mvp77
what a pointless thread really ?? the PRICE is moving? FUCK! i've missed something ...
Do you ever think critically about things? This is not what the thread is about.

"You Looked But You Did Not See." - Hannibal Lecture

It is more about the fact that price history or closed candles are useless so anybody drawing lines based off of them is fooling them selves.

I mean come on that should have been implied when the title mentioned a SINGLE candle.

sis.
  • #29
  • Apr 3, 2015 2:36pm Apr 3, 2015 2:36pm
Hi Sis.yphus,

Pls don't mind me asking a stupid question. Could u kindly clear my doubts. Thanks in advance.

Q1) So in your opinion, the horizontal line can be anywhere not just based on OPEN prices of candlestick, am I right?

I was actually thinking placing horizontal line on swings high/low is much better than placing on the open as your pic suggested, and it then becomes like BO, but if so what's with the horizontal line approach then?

Q2) Which is more useful in trading using the horizontal line approach using the OPEN or CLOSE price??? Or are they the same???

OPEN Price is stagnant at least for a period of time depending on TF u choose. Whereas CLOSE Price is the most current price. So is there any significance over choosing either of them???

Pls enlighten me and pardon me for asking this stupid question.

Best Regards,
LearnAlways
I only know I know nothing
  • #30
  • Apr 3, 2015 2:38pm Apr 3, 2015 2:38pm
Quoting LearnAlways
Hi Sis.yphus, Pls don't mind me asking a stupid question. Could u kindly clear my doubts. Thanks in advance. Q1) So in your opinion, the horizontal line can be anywhere not just based on OPEN prices of candlestick, am I right? Q2) Which is more useful in trading using the horizontal line approach using the OPEN or CLOSE price??? Or are they the same??? Pls enlighten me and pardon me for asking this stupid question. Best Regards, LearnAlways
1. Yes you are right.

2. It makes absouleutly no difference if you use a Open Line, a Close Line, A High or a Low Line. as I said, a Line is a Line is a Line.

As a trader by the name of TRO always says, "its not what you trade, its how you trade it."
  • #31
  • Apr 3, 2015 3:23pm Apr 3, 2015 3:23pm
Thanks Sis.yphus,

So basically u are saying the horizontal line approach is a Breakout approach, simple as that. Just trade it like a BO.
Q) I believe there is a better placement of horizontal line which will greatly affects profitability. If u don't mind shining the light.

  1. Horizontal Line on Open or
  2. Horizontal Line on Swing
  3. Any other optimal line placement for profitability except big round numbers we all know???

which is more profitable. I ask because I saw prices seem to like to test the OPEN prices meaning if I trade using horizontal line approach trade the BO of open price. Price most frequently will retest the open prices. And I will be stopped out when it happens if I move to BE. And If I don't move to BE when price cross the OPEN price of the candlestick it will invalidate my entry in the first place so I should be out.

Thanks,
LearnAlways

I only know I know nothing
  • #32
  • Edited 8:23pm Apr 3, 2015 3:35pm | Edited 8:23pm
Quoting LearnAlways
Thanks Sis.yphus, So basically u are saying the horizontal line approach is a Breakout approach, simple as that. Just trade it like a BO. Q) I believe there is a better placement of horizontal line which will greatly affects profitability. If u don't mind shining the light. Horizontal Line on Open or Horizontal Line on Swing Any other optimal line placement for profitability except big round numbers we all know??? which is more profitable. I ask because I saw prices seem to like to test the OPEN prices meaning if I trade using horizontal line approach...
There is no place to put the horizontal line that gives it more weight or better odds than another place you could put it. Also It is not about trading the crosses or break outs of the lines. Its all about using the lines as a point of reference. This is why time/any measurement was invented in the first place. it is to measure space with points of references. Measurements only matter in relation to their points of reference. Measurements them selves mean nothing. Yards themselves are nothing unless you use them measure something. inches themselves are nothing unless you are using it to measure something. Time & distance does not exist unless there is a point of reference/boundry that it exist next to or in.

As for you question about Open prices etc. Find me an open price that isn't a close price as well... Open and close prices can be created at any level of price the chart has visited because open and close prices depend on the point of reference you are using to measure that time section of the market.

A horizontal line placed at the open is no different than one placed at the High or the Low. Its not what line you are trading, its how you are trading it.

sis.
  • #33
  • Apr 3, 2015 3:55pm Apr 3, 2015 3:55pm
Once again thanks Sis.yphus,

This is tough, so basically I can draw horizontal lines all over the chart and I still can be unprofitable and profitable.
That is why I ask because the horizontal line approach makes perfect logical sense and I had watch TRO videos but its not easy to implement it. Or shall I put it in this way, its too easy to implement it.
I only know I know nothing
  • #34
  • Apr 3, 2015 4:40pm Apr 3, 2015 4:40pm
Quoting Sis.yphus
{quote} There is no place to put the horizontal line that gives it more weight or better odds than another place you could put it
Thanks for taking the time to answer questions on the thread Sis..thats very kind. I felt I should mention that there might be one or more ways to put the line at a price that is 'better' than others.
  • #35
  • Apr 3, 2015 7:30pm Apr 3, 2015 7:30pm
Quoting mvp77
what a pointless thread really ?? the PRICE is moving? FUCK! i've missed something ...
ROFLMAO

Your post reminds of Newton. You see, back in the days everybody know that things fall on the ground. Even a children knew that if you throw something or drop something, it falls on the ground. And then the Genius Newton makes a claim, "The apple falling from a tree... things fall to the ground." Everybody was like, "WTF!?"

Quoting mvp77
what a pointless thread really ?? the PRICE is moving? FUCK! i've missed something ...
ROFLMAO

Yes.... Price is moving. And FUCK YES, you've missed a lot of things.
You have to forgive me my friend of my sick sense of humor, I couldn't be bothered explaining it again. You've made my day

"Trading is simply capturing a move from point A to Point B." ~ CrucialPoint
  • #36
  • Apr 3, 2015 7:41pm Apr 3, 2015 7:41pm
It's how you handle the positions.

Start small and then increase wisely.

Either when reversing or when the train is going the right direction.

Works for me in bigger timeframes.

In that case I like for example Gold.
  • #37
  • Apr 3, 2015 7:50pm Apr 3, 2015 7:50pm
Im out.
  • #38
  • Apr 3, 2015 8:00pm Apr 3, 2015 8:00pm
Quoting LearnAlways
I ask because I SAW prices seem to like to test the OPEN prices meaning if I trade using horizontal line approach trade the BO of open price. Price most frequently will RETEST the open prices.
Illusions :nerd:

The eyes and the brain has an interesting function. Within the brain is a section called "Reticular formation". And what you see is usually an illusion. The brain filters a lot of what you see, depending on your limiting beliefs and/or thinking. The brain can not process tremendous amount of data coming through your eyes, hence it need to filter information, thus leading to illusions.

Often, traders will state:
"Price retesting (a certain location) price/SR/Swing level/Fib Level/SD."

It's an illusion. It didn't retest. With such thinking, traders will usually lead to a path of trading with no stop loss, due to "Retesting price" or "Price reverting back to ___ ". And then they blow their account because price didn't come back to retest. To me, to test if the hypothesis of Price retesting is true, is that I have a simple question:

When did ______ (add any currency pair here) retested the price of 0.0010?

If it hadn't retested this price then I can only hold False to the assumption "that price retest itself". Because if indeed it retest price, it should retest ANY/EVERY price.
  • #39
  • Apr 3, 2015 8:09pm Apr 3, 2015 8:09pm
Quoting Sis.yphus
{quote} There is no place to put the horizontal line that gives it more weight or better odds than another place you could put it. Also It is not about trading the crosses or break outs of the lines. Its all about using the lines as a point of reference.
People find it hard to get this concept because of being brainwashed which leads to Denial.

We should get a guy in a white lab coat to say:
"You can put a reference point ANYWHERE you like."

Even as kids, we were taught to color inside the line. And if you color outside the line, you're considered with a learning disability.

Peace,
CrucialPoint
  • #40
  • Apr 3, 2015 8:21pm Apr 3, 2015 8:21pm
Quoting CrucialPoint
{quote} People find it hard to get this concept because of being brainwashed which leads to Denial. We should get a guy in a white lab coat to say: "You can put a reference point ANYWHERE you like." Even as kids, we were taught to color inside the line. And if you color outside the line, you're considered with a learning disability. Peace, CrucialPoint


You said it best brother!

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