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  • #781
  • Feb 16, 2016 5:15pm Feb 16, 2016 5:15pm
Attached Image
  • #782
  • Feb 17, 2016 12:30am Feb 17, 2016 12:30am
This is the definition of patience by a Persian poet and philosopher about 800 years ago.
Attached Image
  • #783
  • Feb 17, 2016 1:38am Feb 17, 2016 1:38am
Good morning friends.
I have lurked from time to time to catchup with interesting thoughts from a superb bunch of members on this thread.

I have kept myself busy reading and doing a bit of coding. I thought I had left my IT profession well behind but the urge to understand MQL and see how some of the indicators work, got me started. So, for the past week, I have been testing my skills.

Now, I am certain, I am reinventing the wheel or that there is a nice shiny wheel already out there but I thought why not make my own wheel.

I was reading Marcel Link's book recommended here by my friend and in it there was emphasis on knowing ATR.

The fruits of my labour has got me as far as creating a table of currencies with ATR for all periods starting from M1 to MN1. I am sure the programmers amongst you will know the satisfaction when one gets something to work.

My next challenge is to present it on screen in a pretty grid. Wish me luck!
None the wiser!
  • #784
  • Feb 17, 2016 2:04am Feb 17, 2016 2:04am
Quoting ebitalebi
This is the definition of patience by a Persian poet and philosopher about 800 years ago. {image}
very nice.

my quote:

" I lost so much money in forex [despite my efforts], that I wanna bash my laptop against the fckn wall."
Pulke


  • #785
  • Feb 17, 2016 2:16am Feb 17, 2016 2:16am
If this question doesn't belong here then please delete my post.

When you want to open a position In Metatrader 4 you can buy or sell 0.10-8.00 (you can see what I mean in the attached image). What does that mean?
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 26 KB
  • #786
  • Feb 17, 2016 2:44am Feb 17, 2016 2:44am
Quoting FxClown
Good morning friends. I have lurked from time to time to catchup with interesting thoughts from a superb bunch of members on this thread. I have kept myself busy reading and doing a bit of coding. I thought I had left my IT profession well behind but the urge to understand MQL and see how some of the indicators work, got me started. So, for the past week, I have been testing my skills. Now, I am certain, I am reinventing the wheel or that there is a nice shiny wheel already out there but I thought why not make my own wheel. I was reading Marcel...
We are with you friend, and I'm sure I can speak for all of us
  • #787
  • Feb 17, 2016 2:46am Feb 17, 2016 2:46am
Some great aphorisms coming in from people
  • #788
  • Feb 17, 2016 2:51am Feb 17, 2016 2:51am
Quoting strongtrader
{image}
nice picture, would be a nice short
(.)(.) think first ...
  • #789
  • Feb 17, 2016 2:55am Feb 17, 2016 2:55am
Quoting maximumguita
{quote} nice picture, would be a nice short
Lol. Good call !

Quoting FxClown
Good morning friends. I have lurked from time to time to catchup with interesting thoughts from a superb bunch of members on this thread. I have kept myself busy reading and doing a bit of coding. I thought I had left my IT profession well behind but the urge to understand MQL and see how some of the indicators work, got me started. So, for the past week, I have been testing my skills. Now, I am certain, I am reinventing the wheel or that there is a nice shiny wheel already out there but I thought why not make my own wheel. I was reading Marcel Link's book recommended here by my friend and in it there was emphasis on knowing ATR. The fruits of my labour has got me as far as creating a table of currencies with ATR for all periods starting from M1 to MN1. I am sure the programmers amongst you will know the satisfaction when one gets something to work. My next challenge is to present it on screen in a pretty grid. Wish me luck!
Good luck FxClown
...
  • #790
  • Edited 3:23am Feb 17, 2016 3:12am | Edited 3:23am
Posting this as a reminder to myself as much as anything else, as I just missed out on a very nice Dax breakout because I hesitated for a couple of seconds, that was all it took, and the price was away beyond my risk limit. When the signal is there, take it, immediately. I know this as well as anyone, but I am still prone to it from time to time.

ps - thought I'd post the chart. My signal came on the opening of the candle with the orange arrow beneath it - I had a very short window in which to act before the price broke powerfully out, but once it had done so, I let it go as I never chase once it is beyond my initial risk level, as it can come back off of the first break out candle, knocking out a poor entry with a tight stop loss like mine. I always go for the optimal entry candle, but once I have missed it, I let it go and wait for the next opp. This approach has served me well thus far, as long as I don't hesitate like I just did. I have a heavy cold today, so perhaps that's why I was too slow!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: hesitation-will-get-you-nowhere-quote-1.jpg Size: 21 KB
Click to Enlarge Name: Germany 30 (DFB) break out.png Size: 49 KB
  • #791
  • Edited 4:22am Feb 17, 2016 3:28am | Edited 4:22am
Quoting swetrader
If this question doesn't belong here then please delete my post. When you want to open a position In Metatrader 4 you can buy or sell 0.10-8.00 (you can see what I mean in the attached image). What does that mean? {image}
That is the lot size that means with how much money you trade. 1 lot= 100.000,- - 0.10 lot = 10.000,-

I attache you a Tickvalue indicator which calculates the lotsize regarding to the percentage you want to risk from your account and how much money it is per pip. It is a nice little helper to understand better with how much lot you can trade. Hopefuly it´s useful for you.
I hope you dont trade live without knowing the basics and good luck
Attached File(s)
File Type: ex4 1 min Tick Value Modified 1.ex4   5 KB | 218 downloads
(.)(.) think first ...
  • #792
  • Feb 17, 2016 3:44am Feb 17, 2016 3:44am
Quoting maximumguita
{quote} That is the lot size that means with how much money you trade. 1 lot= 100.000,- - 0.10 lot = 10.000,- Much more important, if you dont know such thinks than you should not trade live!!!!


That is harsh mazimumquita, the guy was only asking and he said nothing about trading live. I will now attempt to answer his question in a slightly friendlier tone!
  • #793
  • Feb 17, 2016 3:49am Feb 17, 2016 3:49am
Quoting swetrader
If this question doesn't belong here then please delete my post. When you want to open a position In Metatrader 4 you can buy or sell 0.10-8.00 (you can see what I mean in the attached image). What does that mean? {image}
As the previous poster said, that is the lot size you can choose to trade, so you can risk 0.10 pence/cents per point, or you can go all the way up to 8.oo. The more you risk, the bigger your account has to be. As we discussed recently here on this thread, risk is personal, but many traders keep it at around 1 or 2% of their account size, sometimes less. Hope that helps clear things up for you.
  • #794
  • Feb 17, 2016 3:56am Feb 17, 2016 3:56am
Quoting cat
{quote}[/b] That is harsh mazimumquita, the guy was only asking and he said nothing about trading live. I will now attempt to answer his question in a slightly friendlier tone!
no no no sorry that wasn´t ment harsh, i was just afraid that he is possibly trading live. apologize if i said something wrong, my english is sooooo bad.
(.)(.) think first ...
  • #795
  • Feb 17, 2016 4:03am Feb 17, 2016 4:03am
Quoting maximumguita
{quote} no no no sorry that wasnt ment harsh, i was just afraid that he is possibly trading live. apologize if i said something wrong, my english is sooooo bad.
Hey no problem, I understand that people here are from many different countries and cannot necessarily express themselves as a native English speaker would, and as a former teacher of foreign students I am fully aware of this. I am sure no offense was meant or taken.
  • #796
  • Feb 17, 2016 4:06am Feb 17, 2016 4:06am
Quoting cat
Posting this as a reminder to myself as much as anything else, as I just missed out on a very nice Dax breakout because I hesitated for a couple of seconds, that was all it took, and the price was away beyond my risk limit. When the signal is there, take it, immediately. I know this as well as anyone, but I am still prone to it from time to time. ps - thought I'd post the chart. My signal came on the opening of the candle with the orange arrow beneath it - I had a very short window in which to act before the price broke powerfully out, but once...

That was after 45 minutes of consolidation - that's one of the things that I monitor - and as I was not certain if it was accumulation or distribution and I didn't want to bias my entry, I placed Buy and Sell Stops around my fast MA - +/- 10 pts as suggested by Medici - the stops, not the butterfly! and that solved the problem
Trading Levels with WRBs
  • #797
  • Feb 17, 2016 4:09am Feb 17, 2016 4:09am
Quoting maximumguita
{quote} nice picture, would be a nice short
......
  • #798
  • Feb 17, 2016 4:09am Feb 17, 2016 4:09am
Quoting cat
{quote} Hey no problem, I understand that people here are from many different countries and cannot necessarily express themselves as a native English speaker would, and as a former teacher of foreign students I am fully aware of this. I am sure no offense was meant or taken.
thank you for your understanding (is understanding the right word??). I could attache a Ticksize Indicator which shows the value of a currency and calculates the lotsize regarding to the risk from the account in percent. Would it be okay?
(.)(.) think first ...
  • #799
  • Feb 17, 2016 4:10am Feb 17, 2016 4:10am
Quoting FxClown
Good morning friends. I have lurked from time to time to catchup with interesting thoughts from a superb bunch of members on this thread. I have kept myself busy reading and doing a bit of coding. I thought I had left my IT profession well behind but the urge to understand MQL and see how some of the indicators work, got me started. So, for the past week, I have been testing my skills. Now, I am certain, I am reinventing the wheel or that there is a nice shiny wheel already out there but I thought why not make my own wheel. I was reading Marcel...
All the best to you!
  • #800
  • Feb 17, 2016 4:21am Feb 17, 2016 4:21am
Quoting ebitalebi
This is the definition of patience by a Persian poet and philosopher about 800 years ago. {image}
FORESEEING!!!! This is the right term, which is far different from forecasting or having a bias.
Thank you ebi.

"......For me a great student is not someone who is intelligent or hardworking. I believe in one characteristic and that is ambiguity tolerance. I think if someone has enough ambiguity tolerance he will find the answer sooner or later but those that lack this characteristic will give up because they want answers which are crystal clear......"

And this is an excellent sentence: if I may, I would add also "curiosity"
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