everyonerich
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Alert on eur/gbp daily chart.
based on the guidelines, watch for pin bar in 1h, or for further 'confluence' also use fibonacci measure. just wait and see now..
I trade:
There were a few markets I was net negative in over time. As a result these are no longer in my list of markets I trade. As I just said the main one was the S&P500 (The only reason I still watch this is because it is very important as a reference for when I trade the FTSE or DAX).
The concept of the 50 trending and the pullback to the 10-21 zone is a powerful one and led me into many good trades.
2) I don't trade as many markets. I now watch and trade just twelve markets.
Hello Tom,
Thanks for your reply. I can understand that with the time and maturity in trading you have achieved so far, its quite manageable without many of the things one draws on a chart.
Forgive me, but I wished to ask that why do we use emas when they may not work in a volatile situation? They are still a secondary indicator. You just mentioned
So, would it be wrong to say that emas and MACD come with an implicit rider, ' Avoid using under volatile conditions'?
Well, I can understand your reasons for trading 12 markets now a days. You just said that you are not using pin bars as such and one can attribute that to your experience in the market. You are watching things from a much higher perspective than what we newbees do.
I wish to ask you, don't you think that it is a good idea that we do some programming and that your program alerts us when ever there is a pin bar formed?
Let's take an example of Daily TF in forex. Let our program runs every 5:00 pm eastern time(NY) and which so ever currency pair, major/minor, has a pin bar, our program alerts us. That way one can avoid missing pinbars and can trade in many many markets. Once we have a list or pin bars, we can look out for confluence and see it constitutes a high probability set up to trade in.
I just do demo trading with oanda, but I think meta trader gives you the possibility to do programming in its customised language and that its platform can send email alerts. This way one can couple the two and have a list of pinbars.
I am sure people would have done similar things, but I wished to seek your take on that. Your perspective would be esteemed.
Thanks and Regards
simplest solution is ask trader_dante to execute his live trade on any demo/live MT4, and give us the read-only password..
hope he'll post a heads up here before theres an entry, what do you say?
simplest solution is ask trader_dante to execute his live trade on any demo/live MT4, and give us the read-only password..
hope he'll post a heads up here before theres an entry, what do you say?
Your English is fine. It was Everyones etc who asked for signals from TD (Fat chance since TD is not a signal provider for the lazy).You gave me an early morning english exercise.
Post has been made highly singular. Hope no more confusion.
Your English is fine. It was Everyones etc who asked for signals from TD (Fat chance since TD is not a signal provider for the lazy).
Take a look on Forex factory dot com - I have seen a pin bar alert indicator (free) on it somewhere.
Good luck.
Thanks for your reply. Well, I am a software developer, so I can write the code myself. Quite easy it is. It could be one of the first steps in ones pursuit for developing an automated trading system in the long run. Just that I wanted to know Tom's perspective on that. I don't need any ready made signals from anyone. I have no desire for spoon feeding and I think Tom had already helped people a lot through his regular postings at T2W.
Sorry, if my english caused any misunderstanding.
Regards
SPOONFEEDING !!! I was not trying to spoonfeed you but simply to point you to developers on another thread that discuss such things !
http://www.forexfactory.com/forumdisplay.php?f=69
Your English is fine. It was Everyones etc who asked for signals from TD (Fat chance since TD is not a signal provider for the lazy).
Take a look on Forex factory dot com - I have seen a pin bar alert indicator (free) on it somewhere.
Good luck.
Forgive me, but I wished to ask that why do we use emas when they may not work in a volatile situation?
So, would it be wrong to say that emas and MACD come with an implicit rider, ' Avoid using under volatile conditions'?
I wish to ask you, don't you think that it is a good idea that one does some programming and that his program alerts him when ever there is a pin bar formed?
Let's take an example of Daily TF in forex. Let the program run every 5:00 pm eastern time(NY) and which so ever currency pair, major/minor, has a pin bar, the program alerts him. That way one can avoid missing pinbars and can trade in many many markets. Once he has a list or pin bars, he can look out for confluence and see if it constitutes a high probability setup worth trading.
...................I find it a difficult business because once I call a trade I feel like I have to answer to everyone that sees that call. Then you can sometimes begin to doubt yourself and before you know it you are losing your edge..............
aha, so you mean that one should work the other way round!I am surprised that people even bother creating a pin bar spotting program. If you want to do this correctly, you would be far better off, marking up your charts with the high probability turning points and then setting ALERTS when price reaches one of those levels. You can then look at the chart and see what price does, whether it makes a pin bar, inside bar, engulfing bar etc...
You need to read DHB's post very carefully and then read MMT in its entirety.