Do you use the open price? it's like plotting a 1 SMA of the close and a 1 SMA of the close shifted -1 on the same chart, why would anyone do that?
it is possible to plot HLC in MT4. . .
maybe Avery could throw you a bone
BONZ. Using technical indicators to trade.
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Re: BONZ. Using technical indicators to trade.
"Everything Should Be Made As Simple As Possible, But Not Simpler!"
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Re: BONZ. Using technical indicators to trade.
IgazI wrote:Do you use the open price? it's like plotting a 1 SMA of the close and a 1 SMA of the close shifted -1 on the same chart, why would anyone do that?
it is possible to plot HLC in MT4. . .
maybe Avery could throw you a bone
Yes, you're right. Current candle's open price is the close price of previous bar, of course. Unless it's on stocks where gaps abound. OHLC is for checking the past. For live trading, there is really no need for even HL as C alone is already enough. Like you said...... simplify, yes?
Ah, Cap is too busy with his stuff.
My threads
Patterns Observation
post148989#p148989
BONZ
post151670#p151670
MENTAL FORTIFICATION
post168148#p168148
Patterns Observation
post148989#p148989
BONZ
post151670#p151670
MENTAL FORTIFICATION
post168148#p168148
Re: BONZ. Using technical indicators to trade.
Ok, updated the links once again to add some notes on where each trading method is mentioned. Like this, it's gonna be easier for everyone to find it.
And I also find it pleasing to the eyes to have small rectangles instead of arrows for my fractal indicator because it doesn't take up much space and it shows up nicely when I take screenshots.
And I also find it pleasing to the eyes to have small rectangles instead of arrows for my fractal indicator because it doesn't take up much space and it shows up nicely when I take screenshots.
My threads
Patterns Observation
post148989#p148989
BONZ
post151670#p151670
MENTAL FORTIFICATION
post168148#p168148
Patterns Observation
post148989#p148989
BONZ
post151670#p151670
MENTAL FORTIFICATION
post168148#p168148
Re: BONZ. Using technical indicators to trade.
Don_xyZ wrote:
Owh... apparently it's out of my league
Gonna learn how to use Bing, maybe that's a noob-friendly route.
Not true
You just need something like Microsoft Whiteboard where you can map everything out with drawings and attach pictures and links.
Explain everything to yourself like you're teaching a 12 year old; if you can do that then you understand it well enough to turn to the next page.
"Everything Should Be Made As Simple As Possible, But Not Simpler!"
Re: BONZ. Using technical indicators to trade.
I forgot to post yesterday, these were the trades.
I today I grabbed 2R on one of them. The 1R trades kind of cancelled each other out. I still don't have rhyme or reason to pick more than 1R, frankly I only went for 2R because price had dropped enough.
I today I grabbed 2R on one of them. The 1R trades kind of cancelled each other out. I still don't have rhyme or reason to pick more than 1R, frankly I only went for 2R because price had dropped enough.
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Re: BONZ. Using technical indicators to trade.
StylusK wrote:I forgot to post yesterday, these were the trades.
MA-EU-Monday-17-4.png
MA-EU-Tuesday-18-4.png
I today I grabbed 2R on one of them. The 1R trades kind of cancelled each other out. I still don't have rhyme or reason to pick more than 1R, frankly I only went for 2R because price had dropped enough.
So far, you're doing good by following the entry rules.
As for R multiple, do whatever you feel comfortable. If you're not feeling comfy with more than 1R then do the Slayer. Some people here were used to only getting sub 1R, 1R or up to 1.5R but after a while they see the benefit of trying to go beyond it. Guess what, they have been doing great. Maybe you can see this in the future also. Just take your time and learn the rope.
My threads
Patterns Observation
post148989#p148989
BONZ
post151670#p151670
MENTAL FORTIFICATION
post168148#p168148
Patterns Observation
post148989#p148989
BONZ
post151670#p151670
MENTAL FORTIFICATION
post168148#p168148
Re: BONZ. Using technical indicators to trade.
Chop chop 2 to 5. In some weird way I wanted to see this one play out to see what a bad day looked like. I think I kind of have the entry part down, but I don't see much in common with the losing trades to determine how I can reduce the bad ones, or well, with the winning ones either for that matter hah .
Last week I thought about reducing the stop size to the candle's low instead of the swing low. Grabbing more R seems easier that way than with a low placed at a swing, a bit more losses but the RR could end up looking much better. I'll see.
Last week I thought about reducing the stop size to the candle's low instead of the swing low. Grabbing more R seems easier that way than with a low placed at a swing, a bit more losses but the RR could end up looking much better. I'll see.
Re: BONZ. Using technical indicators to trade.
StylusK wrote:Chop chop 2 to 5. In some weird way I wanted to see this one play out to see what a bad day looked like. I think I kind of have the entry part down, but I don't see much in common with the losing trades to determine how I can reduce the bad ones, or well, with the winning ones either for that matter hah .
MA-EU-Thursday-20-4.png
Last week I thought about reducing the stop size to the candle's low instead of the swing low. Grabbing more R seems easier that way than with a low placed at a swing, a bit more losses but the RR could end up looking much better. I'll see.
I've said this so many times but just in case you missed it... you have to see yourself getting more R to be able to actually get that extra R. Observe, gather stats, and then picture yourself getting them.
My threads
Patterns Observation
post148989#p148989
BONZ
post151670#p151670
MENTAL FORTIFICATION
post168148#p168148
Patterns Observation
post148989#p148989
BONZ
post151670#p151670
MENTAL FORTIFICATION
post168148#p168148
Re: BONZ. Using technical indicators to trade.
Htf trading with FrInger is good. Of course, ideally, you use Fractal 3 instead of 5 but since we don't have it in android MT4 so we use whatever we have.
It makes sense.
It makes sense.
My threads
Patterns Observation
post148989#p148989
BONZ
post151670#p151670
MENTAL FORTIFICATION
post168148#p168148
Patterns Observation
post148989#p148989
BONZ
post151670#p151670
MENTAL FORTIFICATION
post168148#p168148
Re: BONZ. Using technical indicators to trade.
If you want to use 'less fractal' then you can look at it like this:
- price makes a fractal
- somewhere after the fractal extreme, price defined a box
- price either makes new boxes in the direction of the fractal extreme
or it fails and falls outside of the opposite end of the box
- price makes a fractal
- somewhere after the fractal extreme, price defined a box
- price either makes new boxes in the direction of the fractal extreme
or it fails and falls outside of the opposite end of the box
"Everything Should Be Made As Simple As Possible, But Not Simpler!"
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