Trading is as simple as ABCD
{quote} Clive patience pays off!{image}
ok guys little advice that works for me here is an example of usdcad if your say a scalper and you like watching m1 m5and m15 chart channels when you find your entry always watch the higher timeframe channel this chart is 5 and 15 channels,,,,i have it showing on 5 timeframe cos its the same as a 1min chart but not so zoomed in,,,,clearer to see at the bottom you have 5 close to the 15 both turned up for entry as the 5 channel goes up it turns to retrace,,,you think what do i do? well what is the bigger timeframe channel telling you? its pointing...
{quote} Nice charts and a good clear explanation of how to look for the really BIG runners from higher timeframe charts , nice explanation. So i guess you're waiting for the lower timeframe like the 1 and 5 min to turn your way then jump on board risk maybe 20 pips and get yourself a foothold on the longer trend. All good stuff but not for me so I'll leave you guys in the safe hands of devontrader when it comes to the long term trading opportunities. Maybe you could post up some longer term setups and we can all try and catch em Jason??? That would...
Thats it in a nut shell we're trading the 1 min channel in direction of the 5 and 15 min channel.. Buy when 1 min TMA(middle band) is green , sell when its red...
The other thing you can do is when you see the two higher timeframes agreeing the 1 min might be going the opposite way pulling back against the trend , then set the new fastTMALine indys slope alert in direction you want and when it turns it will alert you. Then just wait for your entry..
I have attached all indys needed and template so there you have it see how it goes...you will need the new fastTMALine indy as theres been some changes mainly to the alerts choices.
This entry system could be used with Devontraders longer term setups soon as the 1 and 5 min are sloping in your direction try to get a couple of trades to stick and see where they go...
Lastly someone has been working on a new indy that monitors all 28 pairs and you can set it to alert on higher/lower band touches so alerting you to a possible setup. I'll let him explain it when he feels like posting it but I think it could be an awesome addition to this system..
Have fun let me know how you get on...
EDIT: By the way I'm using default setting on my fastTMALine of 56 as it ties in with the new Dash Board which also defaults to 56 so until we can adjust it 56 it is...
{quote} Yep so I see and my GBPNZD that I knew was going to retrace that massive move down all day went up over 100 pips from where i entered about 7 times earlier... Makes me think about all this trading lark its a tricky old game even when I'm right I make next to nothing compared to the actual run.. I seriously think its about in take 10 pips and out , feel I could do that all day long so why don't I?? THeres something amiss in my mindset at the moment that's holding me back...But I'll get there...
))). I appreciate you allowing me to participate in your forum. I don't use your template as it gives me a fucking headache and leaves me debating homocide or suicide, but you have some real good people here.
