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  • #761
  • May 9, 2016 9:21am May 9, 2016 9:21am
Quoting andoseg2
{quote} Tradeur, It is the first time I read about pinocchio bar , lol. I never heard about that before. I suppose you are referring to PIN BAR as Pinochio bar. My belief is the time frame does NOT matter. I have said before I say and I will always say until proven contrary to me, the market, fortunately, it is fractalic. I do not refer to Fractals indicator or something of Bill Williams. What it does work on 60m timeframe it work on 40m timeframe, 39m,38m,37,36 .... 1m timeframe. There is no limit. The only difference is the most tradable timeframe...

thank you very much for your market views and trading skills and knowledge... imparted to me. appreciate this much. i will take all your sound advice seriously. will be watching you here closely kind sir
  • #762
  • May 9, 2016 10:18am May 9, 2016 10:18am
Ma plaisir

Ah, I've forgot. I would advise you to trade 1h timeframe if you are trading intraday. 4h timeframe vary on different brokers due to their time zone, so in case one would want trade on 4h timeframe, will be more viable to trade on 1h timeframe. 1h Timeframe and below it are same on all brokers.
Money moves the market, not an indicator.
  • #763
  • May 9, 2016 5:22pm May 9, 2016 5:22pm
Quoting andoseg2
Ma plaisir Ah, I've forgot. I would advise you to trade 1h timeframe if you are trading intraday. 4h timeframe vary on different brokers due to their time zone, so in case one would want trade on 4h timeframe, will be more viable to trade on 1h timeframe. 1h Timeframe and below it are same on all brokers.
will do that. cheers
  • #764
  • May 9, 2016 7:48pm May 9, 2016 7:48pm
Great thread

Hi guys, I'm trading naked on the D1. There are very few corrections on a daily TF. If i see some down move, i take it and it rarely goes against me. Most people in this world of finance trade on a daily TF. You'll notice if you watch the news or look at any news article or analysis you'll find most of the " professionals" have a daily TF open and nothing else. I think those guys are usually the winners. You have very little drawdown and when you get on say GBPJPY (the beast) that thing will let you ride it until the cows come home. When that pair moves, it hardly stops for anything.

Just my two cents
  • #765
  • May 9, 2016 8:12pm May 9, 2016 8:12pm
Quoting allisonmagic
Great thread Hi guys, I'm trading naked on the D1. There are very few corrections on a daily TF. If i see some down move, i take it and it rarely goes against me. Most people in this world of finance trade on a daily TF. You'll notice if you watch the news or look at any news article or analysis you'll find most of the " professionals" have a daily TF open and nothing else. I think those guys are usually the winners. You have very little drawdown and when you get on say GBPJPY (the beast) that thing will let you ride it until the cows come home....

i am now trading daily or 4 hour chart - looking for entry with 1 hour or sometimes 15 minute chart if prices pointing at the same direction to minimize risk. however yesterday due to my trigger happy fingers... entered on an unconfirmed candle move although price is clearly shouting south move.

so now here i am, managing a trade...

cut down position after i saw the second long candle rejection... or i called it Pinocchio Bar ( i believe i read it with Pring's book of technical analysis where he coined it like a Pinocchio nose because it's telling a lie of its intent - and modern trader shorten it into "PinBar")

okay, please give me your take with my current position kind sirs.

Placed a stop loss just below previous swing low. I will place a sell on stop order depending on price behaviour later on.

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  • #766
  • May 9, 2016 11:47pm May 9, 2016 11:47pm
Quoting tradeur
{quote} i am now trading daily or 4 hour chart - looking for entry with 1 hour or sometimes 15 minute chart if prices pointing at the same direction to minimize risk. however yesterday due to my trigger happy fingers... entered on an unconfirmed candle move although price is clearly shouting south move. so now here i am, managing a trade... cut down position after i saw the second long candle rejection... or i called it Pinocchio Bar ( i believe i read it with Pring's book of technical analysis where he coined it like a Pinocchio nose because it's...

I think the daily and one hour TF are best for trading forex. There are quite a few issues you have to deal with in forex though. First one being that metatrader is not owned by any broker. This makes for dangerous conditions. The broker say they are here to help you and they are here for you. But the problem is that metatrader is not owned by your broker. They are owned by metaquotes. The first thing you'll want to do is take your signals from MT4, but place orders through the broker owned platform. I'm using oanda at the moment. They have their own platform. I completely stopped putting in orders through MT4 and my trades have greatly improved. Something about MT4 is rigged and should not be used for order placement.

So i like your strategy here. The best way to determine the immediate moves is to look for several daily candles in one direction. Depending on the pair, like GBPJPY, you'll have some weeks of movement in one direction. Maybe months. Daily TF are best for determining which way you should be going.

The other recommendation i can make is if you like short term trades, Take your bias from the daily and place your orders on a signal from the 1h. This has helped me quite a bit. Any other TF seems a bit random to me and they don't match up to the main trend.

GBPUSD will have some data coming on super thursday, and i think that will be the trigger for most speculators. What you do is. Wait for the data to come out and for the daily candle on the day of that data to close. Whichever way it closes will be the true direction. You'll have a few days or weeks to ride it.

The daily TF confirms your bias.

Hope that helps
  • #767
  • May 10, 2016 1:50am May 10, 2016 1:50am
Quoting allisonmagic
{quote} I think the daily and one hour TF are best for trading forex. There are quite a few issues you have to deal with in forex though. First one being that metatrader is not owned by any broker. This makes for dangerous conditions. The broker say they are here to help you and they are here for you. But the problem is that metatrader is not owned by your broker. They are owned by metaquotes. The first thing you'll want to do is take your signals from MT4, but place orders through the broker owned platform. I'm using oanda at the moment. They have...
Thanks for the golden nuggets spared here as i have said, my bias on this pair is bearish but just experimenting and honing my little knowledge of price action trading. I have learned that in Daily tf when price is nearing key support or resistance area the price will respect that area unless otherwise a very bad or good news just released. in this case, just to confirm my crazy thought awhile ago, based on my little chart time experience (roughly 4 months) that this pair is bound for retrace...right now, it seems key support level is holding and i can see few haramis and rejections, might as well happen sooner than i thought

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cheers
  • #768
  • May 10, 2016 2:00am May 10, 2016 2:00am
Quoting allisonmagic
{quote} I think the daily and one hour TF are best for trading forex. There are quite a few issues you have to deal with in forex though. First one being that metatrader is not owned by any broker. This makes for dangerous conditions. The broker say they are here to help you and they are here for you. But the problem is that metatrader is not owned by your broker. They are owned by metaquotes. The first thing you'll want to do is take your signals from MT4, but place orders through the broker owned platform. I'm using oanda at the moment. They have...


on regards with platform issues, i don't really have a clue of what you are saying my friend but i will take your word for that and right now i will call my broker and see if i can trade with their own tradestation.

appreciate it much kind sir
  • #769
  • May 18, 2016 3:57am May 18, 2016 3:57am
Quoting tradeur
{quote} Thanks for the golden nuggets spared here as i have said, my bias on this pair is bearish but just experimenting and honing my little knowledge of price action trading. I have learned that in Daily tf when price is nearing key support or resistance area the price will respect that area unless otherwise a very bad or good news just released. in this case, just to confirm my crazy thought awhile ago, based on my little chart time experience (roughly 4 months) that this pair is bound for retrace...right now, it seems key support level is...
You should respect the TP as Bulkowski said according to respective pattern. If you are targeting your own TP you will denaturate the odds of pattern.
Money moves the market, not an indicator.
  • #770
  • May 18, 2016 10:48am May 18, 2016 10:48am
Quoting tradeur
{quote} Thanks for the golden nuggets spared here as i have said, my bias on this pair is bearish but just experimenting and honing my little knowledge of price action trading. I have learned that in Daily tf when price is nearing key support or resistance area the price will respect that area unless otherwise a very bad or good news just released. in this case, just to confirm my crazy thought awhile ago, based on my little chart time experience (roughly 4 months) that this pair is bound for retrace...right now, it seems key support level is...

Support and resistance are dynamic. It's controlled by banks and can be defined as an area of interest for buying or selling. You'll never find the same area of support or resistance in sync and respected every time it goes there because the market makers make deals all across the board all the time. I would focus more of where price is going rather than where it might stop and turn. You can't pick tops and bottoms because they happen at random. As far as MT4 is concerned, it could be either way. The entire market feels a bit scammy, but that's just it's appearance.
  • #771
  • Aug 12, 2016 10:09am Aug 12, 2016 10:09am
got any create summary all chart pattern describe in one pdf file for easy view
  • #772
  • Aug 13, 2016 2:11pm Aug 13, 2016 2:11pm
wealth of experience?
...to my taste
...from my point of view

spx500usd, weekly, 2016 august 13
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  • #773
  • Sep 27, 2016 4:27pm Sep 27, 2016 4:27pm
hello lads, any chance that we might revive this thread, im newbie in naked trading, id love to discuss charts, catalysts and trading methods with a members of this group. anyone still interested?
  • #774
  • Sep 29, 2016 4:43am Sep 29, 2016 4:43am
GBPJPY - weekly in a downtrend.

4hr chart just signalled a reversal bar, and possibly a pullback - Let's see where this goes?

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  • #775
  • Sep 29, 2016 5:57pm Sep 29, 2016 5:57pm
lads does anyone have experience with plus 500 platform, i use it but its charts seem hard to figure out, i saw through some posts out here that some guys use much better platforms, they seem much more informative while here everything looks shitty, on half of the charts i cannot even mark s/r zones because candles seem like they move almost in a straight line. any recommendations please?same ferrer which platform do u use, yours looks even less informative than mine
  • #776
  • Sep 29, 2016 6:19pm Sep 29, 2016 6:19pm
i dunno yet how to upload screenshot of my charts, but check Germany 30 index 1 day chart, did that chart just printed moolah? any thoughts?
  • #777
  • Sep 29, 2016 6:51pm Sep 29, 2016 6:51pm
Hello folks - i'm a naked trader too. it's truly the only way to trade.

I trade in all timeframes intraday and sometimes they turn into swings right?

Basically i take direction from 4hr downwards and generally enter on a 15 min / 5 min / 1 min

I trade in the immediate direction- meaning that apart from the obvious support / resistance points then i dont care what happened more than like 4 hours ago and mostly within the last couple of hours.

I trade speed bumps if price is moving up then i'm looking to buy on a speed bump with tight stops. vice-versa for selling.

I'll just be lurking to see what you come up with but just thought i'd say hello.

oh, forgot to say - I don't have profit targets at all - if they run then i'm still in, if they stumble then i'm out.
https://linktr.ee/Soultrader
  • #778
  • Sep 30, 2016 4:48am Sep 30, 2016 4:48am
EURAUD

Pullback in a downtrend.

Reversal bar formed on H4 - space to fall

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  • #779
  • Sep 30, 2016 10:17am Sep 30, 2016 10:17am
Quoting WhitePowder
lads does anyone have experience with plus 500 platform, i use it but its charts seem hard to figure out, i saw through some posts out here that some guys use much better platforms, they seem much more informative while here everything looks shitty, on half of the charts i cannot even mark s/r zones because candles seem like they move almost in a straight line. any recommendations please?same ferrer which platform do u use, yours looks even less informative than mine
The screenshots are from MT4. I actually trade with a phone app, but look at the charts with a demo version MT4.
  • #780
  • Oct 2, 2016 7:20am Oct 2, 2016 7:20am
ok thanks for the info
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