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  • #441
  • Mar 18, 2016 3:52pm Mar 18, 2016 3:52pm
Quoting mm391
Hi, Being new to Forex trading I was wondering if anyone could recommend good brokers for beginners? Thanks
key to markets is the best one I know right now
Bulls are stupid Animals!especially when Im short!
  • #442
  • Mar 19, 2016 6:14pm Mar 19, 2016 6:14pm
CANDLE CLOSING TIME QUESTION!! Just wondering if you know of any MT4 data feeds that use the NY close? I am testing some indicators on a demo MT4 platform that closes the daily at 6 EST. The signals are not always corresponding to my TOS platform which closes at 5 EST. Although ThinkOrSwim opens a new day at 5pm, the other TFs remain on the previous day until midnight. Having trouble wrapping my head around this...Thanks so much
  • #443
  • Mar 19, 2016 10:20pm Mar 19, 2016 10:20pm
Quoting Jp13
CANDLE CLOSING TIME QUESTION!! Just wondering if you know of any MT4 data feeds that use the NY close? I am testing some indicators on a demo MT4 platform that closes the daily at 6 EST. The signals are not always corresponding to my TOS platform which closes at 5 EST. Although ThinkOrSwim opens a new day at 5pm, the other TFs remain on the previous day until midnight. Having trouble wrapping my head around this...Thanks so much
I would like to find one that closes at 4 ET too.​
JOHN 3:16
  • #444
  • Mar 21, 2016 8:21am Mar 21, 2016 8:21am
Hi just wanted to share an idea on the NZD/USD (4hr pictured) I'm currently following. Would like some views and any advice on analysis and anything I may be over looking I just want to improve. I'm looking to short as soon and my sell target gets hit.

I want to get in on this trade because price has recently tested most recent high and falls in line with my trend line extension of resistance and after strong buying action i'm looking for the up sloping channel action to continue.
Attached Image (click to enlarge)
Click to Enlarge Name: NZD.jpg Size: 98 KB
Freedom is an asset.
  • #445
  • Mar 21, 2016 12:34pm Mar 21, 2016 12:34pm
I agree with you Alex. On the recent high where your chart shows that white arrow, I went short on the close of that bar.​
JOHN 3:16
  • #446
  • Mar 21, 2016 3:08pm Mar 21, 2016 3:08pm
Quoting renasdad
I agree with you Alex. On the recent high where your chart shows that white arrow, I went short on the close of that bar.​
nice, what would you say a logical target would be on this trade?
Freedom is an asset.
  • #447
  • Mar 21, 2016 3:25pm Mar 21, 2016 3:25pm
Quoting AlexanderE
{quote} nice, what would you say a logical target would be on this trade?
​0.6600 area...
JOHN 3:16
  • #448
  • Mar 21, 2016 4:46pm Mar 21, 2016 4:46pm
Any forums for the new Aeron Scalper?? I did buy it and its rocks on the brokers supported in demo mode. Cant get it to work in profit on any of my USA brokers. It takes a demo account from 2k to 167k in 2 days!! demo testing only. Im sure If you have a real live account it would be different. But its fun to watch!! I have traded it also in reverse ect. Any one know of any forums discussing the last aeron EA scalper release???

P53
  • #449
  • Mar 21, 2016 9:39pm Mar 21, 2016 9:39pm
Hi there again
I have a quick question
Lets say i am using a moving average crossover approach in trading
And lets say the aim is 100 pips a day
Assuming my return is bigger than the risk
_______€
Based on that consider the cross is the entry and exit in one scenario of the whole lot
Or
The cross is the entry and every 20 pip i exit 20% of the position and the last 20% is closed at the cross .
Example
Assuming that i am bullish

Entry eurusd 1.1000
1.1020 @.2 lot is closed
1.1040 @.2 lot is closed
1.1060 @ .2 lot is closed
1.1080 @ .2 lo is closed
Cross @1.1045 @.2 is closed

If i did it only at the wining trades i will decrease my profit rate while the risk is still the same
But assuming at a false signal cross will cross again faster than a wining signal
Example
Eurusd 1.1000
@1.0980 , closs .2 lot
@1.0960 , close .2 lot
@1.0940 , cross of averages closs the remaining .6 lot



My question will the secound strategy improve my risk return ratio or not
  • #450
  • Mar 21, 2016 9:52pm Mar 21, 2016 9:52pm
The example i gave for the losing trade is the extreme
Assumimg the trade did not generate any profit from the start
But alot of times the false signal generate profit at first
Even up to 40 pips if the strategy was implemented it will hedge the profit to some extent
Lets say 40% of the lot you traded then for the 60% of the lot will be losses


But i am asking overall would it be a valid strategy to increase risk/return ratio ?
  • #451
  • Mar 23, 2016 1:20am Mar 23, 2016 1:20am
Hi. How do i know the price has reversed its movement?
  • #452
  • Mar 23, 2016 1:35am Mar 23, 2016 1:35am
Quoting bmtrader
Hi. How do i know the price has reversed its movement?
​When it starts going the other way lol. We all want to know the exact answer to this question. Some people use indicators, others use moving averages, some use patterns and others use price action. My style of trading is all based on patterns and price action. I do pretty good but I know I can get better, a lot better. I've been trading now for about 12 years and I still can't tell you the exact moment when price has reversed. There isn't anyone in the history of trading, dead or alive that can tell you when price has reversed. The key to trading is not trying know when it has reversed right away. The key is to see the reversal and snag a "few" pips out of the market before it reverses again. I see you joined this forum 4 years ago. I'm not trying to put you down or anything but be prepared to be trying to figure out that question in 4 more years from now.

If you haven't checked it out yet, go to "James16 Chart Thread". That might help you a little.
JOHN 3:16
  • #453
  • Edited 3:22am Mar 23, 2016 3:06am | Edited 3:22am
Quoting renasdad
{quote} ​When it starts going the other way lol. We all want to know the exact answer to this question. Some people use indicators, others use moving averages, some use patterns and others use price action. My style of trading is all based on patterns and price action. I do pretty good but I know I can get better, a lot better. I've been trading now for about 12 years and I still can't tell you the exact moment when price has reversed. There isn't anyone in the history of trading, dead or alive that can tell you when price has reversed. The...
Well i havent been trading for the last three years.
Can you show me on this graph?
I kinda have success trading scalps on the 1M chart but i get stopped out a lot.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 61 KB
  • #454
  • Mar 23, 2016 3:36am Mar 23, 2016 3:36am
I bet you do get stopped out a lot on 1 min charts. But if I would try it, this is what I would do. I'm assuming I have the same area on my chart showing what I would be watching by adding a couple lines.

I would highly suggest trading on 4 hr charts or higher until you know more of what you are doing but I understand its boring waiting for 4 hours for a candle/bar to form.
JOHN 3:16
  • #455
  • Mar 23, 2016 3:36am Mar 23, 2016 3:36am
oops, forgot the chart.​
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.png Size: 68 KB
JOHN 3:16
  • #456
  • Mar 23, 2016 5:46am Mar 23, 2016 5:46am
Quoting zuhair.ak
Hi there again I have a quick question Lets say i am using a moving average crossover approach in trading And lets say the aim is 100 pips a day Assuming my return is bigger than the risk _______ Based on that consider the cross is the entry and exit in one scenario of the whole lot Or The cross is the entry and every 20 pip i exit 20% of the position and the last 20% is closed at the cross . Example Assuming that i am bullish Entry eurusd 1.1000 1.1020 @.2 lot is closed 1.1040 @.2 lot is closed 1.1060 @ .2 lot is closed 1.1080 @ .2 lo is closed...
it depends on what your risk is to begin with, if sl is 100 pips and you close 20 you will not get a better risk to reward, if however you close 50% or more after 1:1 risk to reward, you can not lose even if your stop get hit, and you also have the option to move your stop to brakeven, this will be a slightly better win ratio, but you will decrease your profit with this method, but on the other hand, you don't have to take so much heat when the market goes against you, it is easy to make 1 to 1, and after that when you know you can't lose, there is no better feeling
Bulls are stupid Animals!especially when Im short!
  • #457
  • Edited 6:08am Mar 23, 2016 5:51am | Edited 6:08am
Quoting bmtrader
Hi. How do i know the price has reversed its movement?
if price makes higher highs and higher lows and suddenly starts to make lower highs and lower lows, then price have reversed.
sometimes if can fake, but generally, that is the concept. if you mean when a trend has reversed, you can look at divergence and reversal patterns to get a clue,
but nothing is for sure, if we really knew when a trend have reversed we would all be rich
Bulls are stupid Animals!especially when Im short!
  • #458
  • Mar 23, 2016 5:54am Mar 23, 2016 5:54am
Quoting Fadhl
Hi Traders: Do you know sites where I can extract past Meta Trade raw data and charts that I can duplicate on Excel for analysis purpose? Thanks
Try Dukascopy, you can download data from their website
Bulls are stupid Animals!especially when Im short!
  • #459
  • Mar 23, 2016 6:01am Mar 23, 2016 6:01am
Quoting Jp13
CANDLE CLOSING TIME QUESTION!! Just wondering if you know of any MT4 data feeds that use the NY close? I am testing some indicators on a demo MT4 platform that closes the daily at 6 EST. The signals are not always corresponding to my TOS platform which closes at 5 EST. Although ThinkOrSwim opens a new day at 5pm, the other TFs remain on the previous day until midnight. Having trouble wrapping my head around this...Thanks so much
Candle closing time has nothing to do about data feeds, it's all about server time, in other words, it is the time your broker uses. if he is located in the US, and especially in NY, then chances are he is using NY time,
Bulls are stupid Animals!especially when Im short!
  • #460
  • Mar 23, 2016 7:00am Mar 23, 2016 7:00am
Quoting roughtrader
{quote} if price makes higher highs and higher lows and suddenly starts to make lower highs and lower lows, then price have reversed. sometimes if can fake, but generally, that is the concept. if you mean when a trend has reversed, you can look at divergence and reversal patterns to get a clue, but nothing is for sure, if we really knew when a trend have reversed we would all be rich
ok, guess that was quite an expendable question ... though some of as are rich nevertheless
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