Never Lose Again

[zapzinig]

monalisa,

how do you make a conatant range bar chart?

Thanks,
--ZZ

[monolisa]

I got it from MQL service shop (mqlservice.net).

Lis

[zapzinig]

thanks Lis.
-ZZ

[MightyOne]

I have constant range bars, but I do not use them because time is equally as important as price.

I almost want to say that time is more important than price

I guess that makes the most important indicators a set of period converters.

[monolisa]

MO,

I recall that you use a number of TF other than the ones in MT4 (eg. 130m). Are you still using it?

I also remember you mentioned that using a combination of TF (eg. M10, M20. M30, etc) might help. Are you able to elaborate on how these TF could be used for trading?

I am still trying to find out which setup (Range based vs Time based - even tick based) is useful for high range pairs like GBPUSD.

THanks for your help.
Lis

[es/pip]

e/j swing trade just hit target


a couple others from today


see held profit and then take it from others

doesn't get much simpler than that

[monolisa]

Good trade, es/pip.

Lis

[monolisa]

Trading zero zones on M5!!

Next chart using constant range bar for comparison.

Thanks blubb for the visual ordering EA.

Lis

[MightyOne]

The best setup is a combination of time and price that also answers the question: did the highest high or lowest low come last?

An example would be to color the body of a candle red if price made a lower low last. If you did this then you would have a complete set of information.

I still use period converters as well as spacial intellect and graph paper to analyze the market from the top down and consider the possible value of a lot as it relates to position.
I then trade the smaller time frames with my notes beside me.

HOURS and HOURS of studying goes into mapping where I am in the grand picture and analysis BEFORE I place a single trade.

It may sound ridiculous and even unnecessary, but I eat traders for breakfast and I am still starving

Traders like to show their 60-200 pip gain that they caught using their little system and no thought, but I see the same traders years later without hundreds of thousands let alone millions and it is all do to their failure to plan.

MO,

I recall that you use a number of TF other than the ones in MT4 (eg. 130m). Are you still using it?

I also remember you mentioned that using a combination of TF (eg. M10, M20. M30, etc) might help. Are you able to elaborate on how these TF could be used for trading?

I am still trying to find out which setup (Range based vs Time based - even tick based) is useful for high range pairs like GBPUSD.

THanks for your help.
Lis

[monolisa]

MO,

So the best setup would be time-based charts with the most recent highest high/lowest low marked? How far do you look back when you identify these highs/lows?

I understand the need to plan for trading. However, where should I start (eg. monthly chart) and which important areas I should concentrate on?

Thanks

Lis