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theperfectsun
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no luck

Postby theperfectsun » Wed Oct 15, 2008 4:59 pm

Well trying and trying, but it does not work for me. I don't know what am I doing wrong, maybe it is just not for me.

When trading 1H horizontal lines, all trades seem late too me, when going to 1H chart I see possible signals, I switch to 5Min chart and I watch the color of 1H bias. Usually the candles are going away from go_(short or long) positions, than I wait for them to come down, the bias color changes, I step in the trade and I loose. Why? I watch 1D colour, I am carefull to go in the trades the way 1H and 1D bias is, but what the hell I don't see?

Is it possible to help me see?

Chart attached, please comment.
thank you

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dragon33
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Postby dragon33 » Wed Oct 15, 2008 5:07 pm

What do you see when you look to that chart?

I see multiple entry's.

Tell me where you want to enter?

ewokuk
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Postby ewokuk » Wed Oct 15, 2008 5:45 pm

i can see entries now the chart is there with all the historic bars on it, but cover the right side of the chart and its a whole different story. you cant get in early when the trend changes because you would be going against H1 and very risky. but by the time you CAN take it, its late and risky again.

somehow need to identify when its about to change direction and when its likely to continue.

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dragon33
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Postby dragon33 » Wed Oct 15, 2008 5:51 pm

ewokuk wrote:i can see entries now the chart is there with all the historic bars on it, but cover the right side of the chart and its a whole different story. you cant get in early when the trend changes because you would be going against H1 and very risky. but by the time you CAN take it, its late and risky again.

somehow need to identify when its about to change direction and when its likely to continue.


What you mean against H1?

Watch the chart. The last red candle is the entry. All rules are filled in.
H1 is red D1 is red why don't you jump in? It is a possible good run (many pips)

I give up if you don't see that!!!

ewokuk
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Postby ewokuk » Wed Oct 15, 2008 6:09 pm

yeah but why is H1 red? because the hour is like 2 minutes old and it droped for first couple of mins, dont you need more confirmation than that?

also looking at that last red candle, it WAS green at the start of the hour, so first thing it did was go up, wouldnt you have taken a long at that point before it turned and went red? since H1 would be green and the overall trend is also up.

also looking at the price movement before that, there were several times where you had long green, small reds, long green, small reds, long green. so taking this red could be very risky if following the same pattern, it could turn at any time and go green again?

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ewokuk
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Postby ewokuk » Wed Oct 15, 2008 6:17 pm

and i was right, this is what happened after (that last red bar is circled) - chart looks different because mine isnt squashed sideways.

Image

the second you went short, it would have reversed and shot up. H1 may have been red, but with H1 being 2 mins old, you have to look at the overall trend instead, which was up up up at that time. Going short on that bar would not have even made it to break even.

Al Mo
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This is what I am seeing

Postby Al Mo » Wed Oct 15, 2008 6:44 pm

I see what your saying about having to wait for confirmation - my gut is telling me you need to see the main trend on the 1 H and trade the 5 min accordingling. It appears to me that your trying for the harder , counter trade, when it would just be easier to continue with the trend until you have a confirmed reversal.

Counter trend example:

In my chart, you see that the 1H has bottomed out, w/middle being 13603., Short opportunities would then exist when the 5 min tops out, as our countertrend target becomes the 1 H middle of 13603. Its just a target, and I suggest you just take 5 pips rather than try for all of it




*** Apologies for the chart - not sure how that didn't save correctly ***

2nd chart is aftermath..you can see there were a couple of opportunities in the 5 min chart - (see red Horizontal line)
Attachments
middle2.gif
middle2.gif (41.36 KiB) Viewed 2755 times
middle.gif
middle.gif (40.51 KiB) Viewed 2769 times
Last edited by Al Mo on Wed Oct 15, 2008 6:56 pm, edited 2 times in total.

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dragon33
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Postby dragon33 » Wed Oct 15, 2008 6:45 pm

ewokuk wrote:yeah but why is H1 red? because the hour is like 2 minutes old and it droped for first couple of mins, dont you need more confirmation than that?

also looking at that last red candle, it WAS green at the start of the hour, so first thing it did was go up, wouldnt you have taken a long at that point before it turned and went red? since H1 would be green and the overall trend is also up.

also looking at the price movement before that, there were several times where you had long green, small reds, long green, small reds, long green. so taking this red could be very risky if following the same pattern, it could turn at any time and go green again?


When you had token a sell you could have made a quick scalp of at least 10 pips. Looks like a winner to me.
Your problem is: you want to much or you are way to late to make the small pips.

ewokuk
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Postby ewokuk » Wed Oct 15, 2008 6:52 pm

dragon33 wrote:When you had token a sell you could have made a quick scalp of at least 10 pips. Looks like a winner to me.
Your problem is: you want to much or you are way to late to make the small pips.


a scalp of 10 pips?!?!?! look at the chart. 5 pip spread + 10 pips = 15 pips required.

To go short you would have to see that bar as red, it went red at 1.3780 and the low on that bar is 1.3778. That is maximum of 2 pips movement before next bar opened which was green and shot up fast. even with 2 pip spread it was not possible to take any profit from that trade. on perfectsuns chart it was a couple of pips more before it reversed, so you would still not have made it even into 1 pip profit.

there were good trades on that chart clearly, but that last red bar on his chart was NOT one of them!
Last edited by ewokuk on Wed Oct 15, 2008 7:02 pm, edited 1 time in total.

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dragon33
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Postby dragon33 » Wed Oct 15, 2008 6:58 pm

ewokuk wrote:and i was right, this is what happened after (that last red bar is circled) - chart looks different because mine isnt squashed sideways.

Image

the second you went short, it would have reversed and shot up. H1 may have been red, but with H1 being 2 mins old, you have to look at the overall trend instead, which was up up up at that time. Going short on that bar would not have even made it to break even.


Take the same chart on H1 and you would have known it only was a scalp.
Do also watch the numbers plot on the chart doesn't they say enough.
I think you need to work a lot before you understand all this. Learn to READ the charts it really isn't that hard.

Watch this, it is from today

Image

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