what I see on ej h4 chart looking to sell, im using 5pm est daily close chart I guess they might be different than others not sure how much daily close time matters?
so this is how my ej ended up got in at 77 going with h4 and hour color, so far a little slow but think it was a good entry maybe a little soon because I didnt have an h1 close below last up candle. Yellow line first target hour zline. Am I close to what you guys are looking at? thanks
LeMercenaire wrote: It's a handy addition to have. It can fill in the spaces on the day
you guys trade the ES also along with forex? same way to trade it?
Yes, for me. I use a Spread Betting broker, so it plays exactly the same.
The broker set up for non-UK residents will be different. Account requirements, etc.
Thats great, I need to practice more on forex but would like to trade other instruments also once I get it down and my confidence up. So far Im learning a lot from everyones charts but I cant get used to all those custom candle ect.
brettnchrism wrote: you guys trade the ES also along with forex? same way to trade it?
Yes, for me. I use a Spread Betting broker, so it plays exactly the same.
The broker set up for non-UK residents will be different. Account requirements, etc.
Thats great, I need to practice more on forex but would like to trade other instruments also once I get it down and my confidence up. So far Im learning a lot from everyones charts but I cant get used to all those custom candle ect.
Never be afraid to ask if you are unsure. Sometimes it's easy to forget that just because we know what we've put on a chart and can see easily, it isn't always clear to others.
what I see on ej h4 chart looking to sell, im using 5pm est daily close chart I guess they might be different than others not sure how much daily close time matters?
so this is how my ej ended up got in at 77 going with h4 and hour color, so far a little slow but think it was a good entry maybe a little soon because I didnt have an h1 close below last up candle. Yellow line first target hour zline. Am I close to what you guys are looking at? thanks
Your chart looks good. Here is how I looked at it since I have a different 4hr start time then you. You can see they are close to the same. The yellow line is the zline or breakout of the red momo, then I could have thrown the fib on the 4hr momo but throw it on the 1hr since we have the same 1hr charts just so its a little clearer. If you would have gotten in at the Bearish engulfing bar (or outside bar whichever), you could have gotten in around 83 and had you stop 15-20 pips above it. Your exit was spot on.
LeMercenaire wrote: Yes, for me. I use a Spread Betting broker, so it plays exactly the same.
The broker set up for non-UK residents will be different. Account requirements, etc.
Thats great, I need to practice more on forex but would like to trade other instruments also once I get it down and my confidence up. So far Im learning a lot from everyones charts but I cant get used to all those custom candle ect.
Never be afraid to ask if you are unsure. Sometimes it's easy to forget that just because we know what we've put on a chart and can see easily, it isn't always clear to others.
Lem is right feel free to ask anytime. I ask him a million questions and not only does he answer those, he always give me more info then even asked for. Now if he is willing to do that with me, then if is only fair to pass it on. The hightime frame overlays are just there one to see if trading with color, 2 the break of a 4hr low or high can be a good place to add to a position 3 the 1hr lets you see smaller time frame momo and then having it on the 15m gives you the ability to get in earlier on a trade.
You seem to do well just looking at a 4hr and 1hr chart timeframe and if that works for you then by all means practice and master it.
brettnchrism wrote: you guys trade the ES also along with forex? same way to trade it?
Yes, for me. I use a Spread Betting broker, so it plays exactly the same.
The broker set up for non-UK residents will be different. Account requirements, etc.
Thats great, I need to practice more on forex but would like to trade other instruments also once I get it down and my confidence up. So far Im learning a lot from everyones charts but I cant get used to all those custom candle ect.
Technically you can trade them the same, but I am by far loving the ES leaps and bounds over forex. I can make about half what I make trading forex on the ES in about 2-4 hours compared to the 12-18 I trade forex for and probably even almost the same amount once I have traded it for awhile. Plus its nice just watching one commodity instead of a half a dozen currency pairs on multiple charts. I had 5 trades on yesterday trading forex. Do you know how hard and exhausting it is, especially when price started to run away. You need to have all your add on's already thought out and where your close exits would be and where your holy cow I cant believe price moved this far this fast exits at.
brettnchrism wrote: Thats great, I need to practice more on forex but would like to trade other instruments also once I get it down and my confidence up. So far Im learning a lot from everyones charts but I cant get used to all those custom candle ect.
Never be afraid to ask if you are unsure. Sometimes it's easy to forget that just because we know what we've put on a chart and can see easily, it isn't always clear to others.
Lem is right feel free to ask anytime. I ask him a million questions and not only does he answer those, he always give me more info then even asked for. Now if he is willing to do that with me, then if is only fair to pass it on. The hightime frame overlays are just there one to see if trading with color, 2 the break of a 4hr low or high can be a good place to add to a position 3 the 1hr lets you see smaller time frame momo and then having it on the 15m gives you the ability to get in earlier on a trade.
You seem to do well just looking at a 4hr and 1hr chart timeframe and if that works for you then by all means practice and master it.
Also, always remember that you don't have to have it all on one chart as overlays. Reduce your charts and set the workspace up in thirds, or whatever. One third H4, one H1, then M15, all side-by-side.
You can even have MO's micro-charts down one side if that suits.
Point is - as Mr Hyde says, do what works for you.
LeMercenaire wrote: Yes, for me. I use a Spread Betting broker, so it plays exactly the same.
The broker set up for non-UK residents will be different. Account requirements, etc.
Thats great, I need to practice more on forex but would like to trade other instruments also once I get it down and my confidence up. So far Im learning a lot from everyones charts but I cant get used to all those custom candle ect.
Technically you can trade them the same, but I am by far loving the ES leaps and bounds over forex. I can make about half what I make trading forex on the ES in about 2-4 hours compared to the 12-18 I trade forex for and probably even almost the same amount once I have traded it for awhile. Plus its nice just watching one commodity instead of a half a dozen currency pairs on multiple charts. I had 5 trades on yesterday trading forex. Do you know how hard and exhausting it is, especially when price started to run away. You need to have all your add on's already thought out and where your close exits would be and where your holy cow I cant believe price moved this far this fast exits at.[/quote]
Wot he sed...
The DAX is my main drug of choice now, for the same reason - ok and for the fact that you get so much bang-for-your-buck. However the trade off is that it can turn and bite your arm off at any given point in time.
For that reason, the 500 (ES) or it's little sister the US30 (YM) is a good compromise.
You can still look at FX but you will find that you become very, very, selective in your choices and specialise in particular set-ups at specific times. Sniper rather than blunderbus.
