wackypete2
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Hi everyone. Bit late to the party today. Good to see so much participation!
Peter
Peter
wackypete2
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Some talk about Heiken-Ashi candles has peaked my interest. A few of you seem to be doing well. Since I'm always open to new ideas (I preach "gotta adapt", might as well practice what I preach!), I think I'll thrown open a eurusd chart with the ha candles and see if I can make use of them. Any tips/pointers/money is appreciated!
Peter
Peter
B
Black Swan
Hi Pete, as always there's no magic formula etc..for me they're simply easier to *read* than the normal candles, particularly if you use Pro Real Time charting, when on 150 units they are very clear..
Have a look at this 'ickle e-book, not a bad read, and tbh that earn-forex site ain't too bad either, and then perhaps do a bit of 'Googling'..dyor and all of that..
http://www.earnforex.com/forex-e-books/trading-strategy/Using_The_Heikin_Ashi_Technique_D_Valcu.pdf
wackypete2
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Past 3 hours eurusd stuck in a 14 pip range. High 1.3937, low 1.3923. 30m chart forms a nice bull flag. Looking out 1 month the trend is still up which would indicate a break to the topside, but we had a nice 200 pip run up over the past 24 hours so maybe some relief is due.
Peter
Peter
I've tried placing limit orders on both sides of a channel before. I thought that was the holy Grail of stress free trading back in the day. Nope. So I'll just sit on my hands untill another trend forms.
Edit: having said that im reading up on chart formations and I'll be watching this to see if it is a bull flag and what it looks like if it breaks.
Last edited:
wackypete2
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Hi Pete, as always there's no magic formula etc..for me they're simply easier to *read* than the normal candles, particularly if you use Pro Real Time charting, when on 150 units they are very clear..
Have a look at this 'ickle e-book, not a bad read, and tbh that earn-forex site ain't too bad either, and then perhaps do a bit of 'Googling'..dyor and all of that..
http://www.earnforex.com/forex-e-books/trading-strategy/Using_The_Heikin_Ashi_Technique_D_Valcu.pdf
Ahhh, I've been searching for the holy grail since the medieval times! Little did I know I could find it here on t2w in medbs thread.
Thanks for the link. I skimmed over the pdf file briefly. I like that it explains how the candles are calculated. I always feel better knowing exactly what an indicator is telling me other than "buy" or "sell". Will read the complete ebook for tonight's homework after trading is done.
Thx!!
Peter
wackypete2
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I've tried placing limit orders on both sides of a channel before. I thought that was the holy Grail of stress free trading back in the day. Nope. So I'll just sit on my hands untill another trend forms.
Edit: having said that im reading up on chart formations and I'll be watching this to see if it is a bull flag and what it looks like if it breaks.
This is purely personal observation here, nothing quantifiable, but I firmly believe that the failure of chart formations has risen significantly over the past 2 years...so much so that I had started playing break failures instead of breaks with some good success. I'm on the watch these day for both a good break and a good fake. I'm willing to bet if I only play failures of patterns and trendline breaks I could improve winning percentage, but fewer trades to keep me interested long enough...
Peter
wackypete2
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we have 16 members at this hour?? Most of you UK traders should be in bed by now
Peter
Peter
Don't want to be controversial
)), but IMO chart formations only ever work in retrospect.btw, I've been a H-A candle person for many years, Much easier to 'read' than the normal type, but having returned to MT4 recently I'm not impressed by how they appear. Anyone know if there's an add-on that shows clearer candles with proper outlines?
wackypete2
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Don't want to be controversial
btw, I've been a H-A candle person for many years, Much easier to 'read' than the normal type, but having returned to MT4 recently I'm not impressed by how they appear. Anyone know if there's an add-on that shows clearer candles with proper outlines?
I welcome all intelligent opinions, criticisms, and questions. Learning is a lifelong journey and after all, how can anyone learn anything if we all shared exactly the same beliefs!
Peter
B
Black Swan
Don't want to be controversial
btw, I've been a H-A candle person for many years, Much easier to 'read' than the normal type, but having returned to MT4 recently I'm not impressed by how they appear. Anyone know if there's an add-on that shows clearer candles with proper outlines?
Don't know of add ons (but no doubt you can ask the Q on the MT forums), but they show up brilliantly on PRT...
trendie
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Don't want to be controversial
btw, I've been a H-A candle person for many years, Much easier to 'read' than the normal type, but having returned to MT4 recently I'm not impressed by how they appear. Anyone know if there's an add-on that shows clearer candles with proper outlines?
please explain.
the H-A candles seem ok.
showing bodies and wicks as per normal.
