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Forex for Dummies

u continue to confuse me Tech ---- u have derived nothing from the last 2 dozen or so posts??

me personally have derived a great deal from the last cupla dozen posts

but im too polite a nun to actually say what i reckon to some of the claims claimed
 

Thanks Lesm.

Check your pm's.
 
do a spreadsheet. 5% returns a day. see what it adds up to in a year.

just answering a question on returns. dont have to read my posts if you dont want to

im none too polite, its the interwebs!
 
do a spreadsheet. 5% returns a day. see what it adds up to in a year.

just answering a question on returns. dont have to read my posts if you dont want to

im none too polite, its the interwebs!

i too have a calculator .......... its great how theres no losses in this game apparently ..

tip my hat

off to the library to learn how to become a supertrader that makes a gain EVERYDAY

cheers you have given me inspiration
 

the MA is purely to signal the trend. i only will trade with the trend unless i have a very good reason not to.

the recent short on the pound and gold had a flat to slightly up MA but the euro and aussie plummeted and the yen fell off. so i took the shorts when the stoch moved from above to below 80.

there are false signals. no system is perfect. if it doesnt go my way, i get out.

i risk 5% account balance on a trade.

i exit when the market becomes over sold for a short, and over bought for a long (ie when the stoch moves back the opposite to the entry. a long ill look to exit when stoch goes back below 80 from above and a support is broken and vice versa for a short).
 
do a spreadsheet. 5% returns a day. see what it adds up to in a year.

just answering a question on returns. dont have to read my posts if you dont want to

im none too polite, its the interwebs!

don't put the back up,

i am always curious to learn as it adds to my edge.

do u have rules on the 55 MA? stoplosses and take profit orders? how do u determine your exits or is it all gut feel?

I am not into politeness either. so what was the hit rate of winners to losers? I have noticed on a 15 min chart if I have a few hits it can eat right into my weeks winnings. how do u handle mayor draw down on a day or a week?

I have these questions cuz I noticed the amount of false hits that got thrown up.

I see a long building now on your method on 5 min eur/usd

cheers
 
i too have a calculator .......... its great how theres no losses in this game apparently ..

tip my hat

off to the library to learn how to become a supertrader that makes a gain EVERYDAY

cheers you have given me inspiration



i dont make money everyday. but most days i do. looking at my result sheet ill have some days down 20%. others though ill be up 40%.

my 18 month average is 7.2% of account per day.

i was merely trying to give you a lesson in compounding returns.
 

wasnt directed at you. sorry.

winning trades to losers? probably about 66 wins 33 losses. i dont keep track of that though. just my balance.

i use 5 minute chart. so cant comment on 15 minute set ups.

i use a fair bit of gut feel and support and resistance. hence the problem transferring the results of my human trading onto computer trading; which was why i was interested in the logic others used to calculate their support and resistance.

there is no long on the eurusd. the MA is down. i can only short.

AUD is a set up i might take however.
 


cheers for the replies that clears up the questions I had.
 
glad to help.

i took that AUD short @ 71155. started well. see how it continues.

edit: out at 70095. + A$245
 
me personally have derived a great deal from the last cupla dozen posts

but im too polite a nun to actually say what i reckon to some of the claims claimed

Nun....You can always ask for the blotter to be put on the table and still be polite.
 
Hi Stormin,

Just thinking about an EA on this, is your MA55 an EMA or SMA ? To establish the slope concept have you tried an SMA55 channel on high and low with a faster EMA 34?

If 34EMA is above channel Buy only, if within channel then NO trade, if below then Sell only.

Sorry I am not a programmer so I can't help with the creation but I have seen this type of on/off "switch" used in other systems.

Stop loss may be swing point created at time when 5M chart Stoch was OB/OS
 

that would change the rules surrounding my trades. but they are good thoughts; youre welcome to test them yourself on basic system i posted, as long as you let us know the results

i put the stop loss just below a support point and calculate my lot sizing from that to make (roughly) a 5% risk for each trade.
 
Divergance ??
 

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i took a short just about right when that shot was taken. a discretionary trade cause it didnt quite fit my rules.
 
didnt work out. exited trade -4 pips. itll probably fall through resistance now. that's how it usually goes.
 
An example of tick volume in forex with VSA as requested by cartman.

Example of a no demand bar on 60 minute timeframe of AUD/USD in downtrend,

No demand (point 1) is an upbar with tight spread within a downtrend with low volume (tick volume) showing no commitment to higher prices.

You will also notice that high volume when support came (point 2) Prices then moved back upwards but did not penetrate the close of the no demand bar and continued downwards.

To enter the trade l would wait until the no demand bar is printed and enter on the following bar on a lower time frame going down to 15 minute then 3 minute for entry. I just wanted to show more that tick volume in FX works with VSA.
 

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