Newtron Bomb
Guest Author
- Messages
- 1,602
- Likes
- 87
Forex Trading - December 2003
- Thread starter Newtron Bomb
- Start date
- Watchers 6
Newtron Bomb
Guest Author
- Messages
- 1,602
- Likes
- 87
The interesting point to remember that there will be a consolidation on all time frames, but relative to the rest of the time bars in question it may only be for a few moments or several bars.
A chart is a snap shot, price action is paramount
Personally i think that the price will consolidate at this level
My net connection has been up and down all day
Speak to you all tomorrow
Have a good time wherever you are
Newtron Bomb
A chart is a snap shot, price action is paramount
Personally i think that the price will consolidate at this level
My net connection has been up and down all day
Speak to you all tomorrow
Have a good time wherever you are
Newtron Bomb
Neil.
Fxcm do not do a trailing stop at present. I spoke to the guvnor a couple of weeks ago (UK) and he is looking into it for the next update.
They were also trying to sort out something with the charts per the reliability of keeping pace with the feed. You may have noticed at fast running times the charts can lag and freeze. (apologies to the guy from a couple of months back where I said I hadn't had that many problems.) (Always a curse.)
But orders on the BO. Good way to get yourself in. Though I find I need bigger stops. So a case of seeing how much you are prepared to lose on a trade
New charts were out last night. No one said anything. They just popped up when I logged on. Have you seen them yet? If not I'll paste the link up. May have a problem if running behind a firewall. Chart may not connect. Options are to open a couple of ports. Or to disable the wall. Never a good idea. But as soon as you connect you can pop the wall back.
And 7 o'clock?????
Come on Neil, I'm on me 2nd cup of tea by then.
Fxcm do not do a trailing stop at present. I spoke to the guvnor a couple of weeks ago (UK) and he is looking into it for the next update.
They were also trying to sort out something with the charts per the reliability of keeping pace with the feed. You may have noticed at fast running times the charts can lag and freeze. (apologies to the guy from a couple of months back where I said I hadn't had that many problems.) (Always a curse.)
But orders on the BO. Good way to get yourself in. Though I find I need bigger stops. So a case of seeing how much you are prepared to lose on a trade
New charts were out last night. No one said anything. They just popped up when I logged on. Have you seen them yet? If not I'll paste the link up. May have a problem if running behind a firewall. Chart may not connect. Options are to open a couple of ports. Or to disable the wall. Never a good idea. But as soon as you connect you can pop the wall back.
And 7 o'clock?????
Come on Neil, I'm on me 2nd cup of tea by then.
Newtron Bomb
Guest Author
- Messages
- 1,602
- Likes
- 87
DT
can i ask what conditions on the 5 min chart?
Looking at the charts (when i finally got my adsl fixed this morning) there is a reaction of the trend channel, beautifully highlighted and expected by Rezo in his thread, providing a long opportunity @ 1.2185 25/30 pips so far (with hindsight) which i would expect to still be open on the 5 min chart (with the method i trade).
Regards
Newtron Bomb
can i ask what conditions on the 5 min chart?
Looking at the charts (when i finally got my adsl fixed this morning) there is a reaction of the trend channel, beautifully highlighted and expected by Rezo in his thread, providing a long opportunity @ 1.2185 25/30 pips so far (with hindsight) which i would expect to still be open on the 5 min chart (with the method i trade).
Regards
Newtron Bomb
And someone on another thread said trend channels don't work. PAH!!
DT, Thinking too much. Don't form an opinion. Simple as that. The hard part is then trading.
Of course you have to act on opinion to put a trade on, otherwise you will just sit in front of a screen all day watching the pretty pattern unfold.
You have to differentiate between assuming where you think the market will go (pre emptive and costly), and letting the market tell you of probable outcome.
Had you gone short at a trend line break, you've seen the call was wrong. So get out and reverse.
The market told everyone who cared to look that the point at the trend line was particularly supportive. Conditions were ripe for a bounce off. The market doesn't care if people think it is too ob or os.
How you view the chart is important. Lots of us were looking at the same picture but viewed it different. Some days one lot will be right, other days...
To have some idea of where it will go in the future, you musn't forget the past.
DT, Thinking too much. Don't form an opinion. Simple as that. The hard part is then trading.
Of course you have to act on opinion to put a trade on, otherwise you will just sit in front of a screen all day watching the pretty pattern unfold.
You have to differentiate between assuming where you think the market will go (pre emptive and costly), and letting the market tell you of probable outcome.
Had you gone short at a trend line break, you've seen the call was wrong. So get out and reverse.
The market told everyone who cared to look that the point at the trend line was particularly supportive. Conditions were ripe for a bounce off. The market doesn't care if people think it is too ob or os.
How you view the chart is important. Lots of us were looking at the same picture but viewed it different. Some days one lot will be right, other days...
To have some idea of where it will go in the future, you musn't forget the past.
You can see slightly better on the hour chart that there were 2 previous opening marks supporting other people's trend lines.
Fwiw, I had been short from around 6 o'clock this morning. Got out at that congestion then back in, after; it started away again.
Fwiw, I had been short from around 6 o'clock this morning. Got out at that congestion then back in, after; it started away again.
Newtron Bomb
Guest Author
- Messages
- 1,602
- Likes
- 87
Options
Hat off to you for being the early bird
Regards
NB
Hat off to you for being the early bird
Regards
NB
Lol Neil.
No m8. This is the great thing about working for yourself. You set your own hours. There can be some good moves before the usual one around 8am The best one was early at around 1o'clock. But I do have to sleep sometimes, so I missed it. There were a few fx traders around at 7am though from here, BB and JT were up early. Have to have a word with JT I think see if he can come up with an auto trade prog for the fxcm platform.
No m8. This is the great thing about working for yourself. You set your own hours. There can be some good moves before the usual one around 8am The best one was early at around 1o'clock. But I do have to sleep sometimes, so I missed it. There were a few fx traders around at 7am though from here, BB and JT were up early. Have to have a word with JT I think see if he can come up with an auto trade prog for the fxcm platform.
neil
Legendary member
- Messages
- 5,169
- Likes
- 752
I think JT posted it over at tradepit.
I got this one from Moneytec
http://www.fabrefactum.com/forums/forum/
great that fxcm are thinking of a moving stop loss. Now if fxcm could have a paging service for mobile phones when a desired price is reached ( to alert us to take a trade) - that would be nice.
Good luck
I got this one from Moneytec
http://www.fabrefactum.com/forums/forum/
great that fxcm are thinking of a moving stop loss. Now if fxcm could have a paging service for mobile phones when a desired price is reached ( to alert us to take a trade) - that would be nice.
Good luck
Newtron Bomb
Guest Author
- Messages
- 1,602
- Likes
- 87
