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Would a candle that started out as a red candle...opened lower than the previous candle... be considered a red candle even if it turned green at any point for the purpose of entering a trade at the go/short line? Same with green? What does a green or red candle mean to you? I know, you'll probably say it doesn't matter what you think, it only matters what I think...or something like that :D ...but just curious. Thanks again :) |
another example, to BUY or not to BUY?
look at the top image... as far as I know, that's a BUY. Now look at the second image with more information on it. You can see price is around resistance, so we better DON'T BUY. I'm concerned about using only the EZ BIAS. I know I used it and it work like a charm one day, but not the next one. Please comment anyone. http://i35.tinypic.com/3148s4i.gif http://i34.tinypic.com/hrao37.gif |
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and when its going up like that and you see a red bar start to form, you cant take a short as it WILL be against the H1 bias. so lets say it continues downwards with a couple more red bars. by that time it is way past the go short line so you still cant take a short on it even though H1 bias might have gone red by now. on that chart, support is going to be somewhere around 1.7585 so he cant take a long, hes miles from the golong line, he also cant take a short as H1 is not going to go red for a long time yet and theres a massive uptrend so clearly very risky. so basically, unless its a ranging market, youll not make a single trade based on the SSRR indicator as far as i can work out? this is why im not getting it, as far as i can see, unless its going up down up down up down in a tight range, you wont get a single good trade signal. which is why dragon must be doing something of his own and not following the golong goshort lines. |
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I'll spend a little more time thinking before posting in future. :o |
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What DO YOU REALLY SEE??? I see a green H1 and D1 I see it is all up I see resistance is at 1.7685 Which way do we trade??? You go short under the go short line only and only when H1 is RED. If D1 is green take what you can (small pips) The red line in the right corner is a SL with profit . If you are following that pair now it is a SELL with small pips H1 is RED If you break resistance you good go long (H1 and D1 are green why not take that, looks good to me) but be carefull it is allready a huge up of more than 100pip. (remember daily range) Lock in your profit as soon as possible. http://i37.tinypic.com/2jcc3er.gif You SEE it is not difficult. So if it breaks resistance be ready to close your trade |
your
entry marked on there, was that a long taken when it broke previous
resistance on the large green bar to the right of the entry line (after
the 2 red bars)?
what you seem to be doing is going long if it breaks previous resistance line or short if it breaks previous support line and H1 colour is the correct colour. this may be what you are doing that is different from my understanding. i understood that you would not go long unless 1: price crosses golong line and 2: h1 is green (which as explained earlier is not going to happen unless its ranging). it sounds risky to me taking a trade as soon as it breaks a support or resistance, surely it may only beak resistance by a couple of pips before reversing again, it IS resistance after all, but IF thats what you are doing then it seems to be working and would certainly explain how i end up doing the opposite a lot of the time. |
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you are going to have to make those black bars a lot wider soon to cover all the 0's in your balance ;)
why do you use m15 not m5? |
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I would have chosen to buy on the green candle after the two red because H1 is green and we are up. Don't wait for the clos of that bar. It sounds only risky if you are up for another 30 pip, maybe it wil i don't know, you. So lock in your profit if it goes good and you are still greedy put a profit SL so you never lose. |
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There is more space between sup res and the go long and short line. On m5 you can't do it with a spread of 5, its to risky. There can't be enough zero's. If it does have a lot of zero's and i can live of it(so i don't have to work in shifts anymore), i would be happy. If i make so much i can give it al out i will help other family's with cancer children. I know they could use some extra money. I wil start a funds for those parents who really need it. That would be my contribution to the society. |
The most important thing i have learned the last few weeks is that you have to wait for the right moment.
In the past i tought i could jump in anywhere. I always learned you have to wait till the candles close, yeh hell you absolutely don't. If you do that you are missing the priceaction!!! Now with the dynamic SR indicator i know when it is time to trade. I see the difference between green and red. I know when there is a priceaction. For me this is the best topic i've ever found on the net. I did 34 trades with this dynamic indicator and scored 27 wins and 4 break even (pitty my spread is to big). That is not just luck See you next time, i have to sleep because i must work the nightshift this evening. Happy trading. |
ok ive got a $250 demo account to play with now.
opened eurusd, saw H1 red, M15 red and it started pushing support down so i went short. made 19 pips then got out. could have had about 15 pips more but im never going to be too dissapointed about making 19 pips profit. im going to do exactly what i would do on a live account with this demo. if ive been consistently profitable over the next 2 weeks i will open a small live account again when i have another week off work in 3 weeks. http://i36.tinypic.com/rs5s2b.gif |
Well done, this is the way it works.
You could set the fib levels to true to chose a target or you can draw them manual. I am not predecting anything but 38% would be a good one. Be ready to close your trade manual with smaller profit if it don't reach 38% level. If you have a big run up you have a possible target at 50% level, even 61.8% but learn to catch the small pips the rest comes later. My plan is to catch 500 pips to grow my equity everything above after the month is for my pocket. If i have a consistance of that i'll be rich in about 2y. |
dragon I just sent you note...please reply when you get the chance. thx! :-)
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OCPD - Obsessive Compulsive Programming Disorder...LOL!! |
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Because, in trading, ANYTHING CAN HAPPEN!! |
Hello All!
Ok, sry if these questions are pretty newbie-ish, but I'm trying to understand this...We only get in once the candle crosses the SR line (go long/short) before getting in the position, right? If the candle is green and h1 is red, then we wait?? What about when the candle starts as green (crossing the line) and then midway through turns red (against the h1)? |
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But there is one little misunderstanding. I am NOT trying to get people to THINK. I want them to STOP THINKING and start SEEING!! THINKING gets in the way. Do you drive a car? Do you THINK when you drive or do you just DRIVE? Don't you SEE the road, traffic, people, lights, signs, etc.. and react to it? Sometimes, you look for clues so you can avoid dangers like a car turning into your lane without signaling or someone who isn't looking and may step into your path. When you drive, how much time do you spend looking at your dashboard "indicators" vs. looking out the windshield and mirrors? Do you need an indicator to tell you which way the traffic is going or can you SEE it? Why not trade the same way? TO BE CONTINUED... |
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The red arrowhead indicates which bar made the resistance line. The gray arrowhead indicates how far back the indicator is looking for highs/lows. The default is 21 bars with a 1 bar shift. So TRO SR RR looks between bar[1] and bar[21]. That's what the (21).1 means. |
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You do NOT need to back test. Either you SEE this works or you don't. The market doesn't care about back test. You have to TRADE IN THE MOMENT. |
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It is completely right what you said, first i didn't saw it but now i do and it is working like hell. The last few days were real fun. |
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A green candle doesn't mean anything to me. All that matters is what price is doing AT THE MOMENT. A red candle INDICATES that the sellers have pushed the price down. A green candle INDICATES that the buyers have pushed the price up. You give MEANING to everything. Things do not have meaning. TO BE CONTINUED... |
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You tell me where support is and where resistance is. |
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Can you clarify TRO? Did ewokuk make the right trade? Thats how i've been interpreting the indicator setups. |
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The FLAW is focusing outside yourself. DO NOT CONCERN YOURSELF WITH "EVERYONE". |
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You Have To Learn To Wait For The Trade. You Only Need One Good Trade A Day. |
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