Hi MO
Sorry if this is a dumb question, but how do you add those smaller higher timeframe charts you can see on the right hand side of your main chart? Is this an MT5 feature or is it something else
Thanks
PB
The ideas that I trade by:
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- PeterBerregi
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Re: The ideas that I trade by:
PeterBerregi wrote:Hi MO
Sorry if this is a dumb question, but how do you add those smaller higher timeframe charts you can see on the right hand side of your main chart? Is this an MT5 feature or is it something else
Thanks
PB
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- PeterBerregi
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Re: The ideas that I trade by:
could you tell me what you think of the levels i drew on this chart? lines 1,2 and 3 look ok to me and 4 just doesnt look right for some reason. thanks.
- elkin.fernandez
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Re: The ideas that I trade by:
People tell me "I don't see it"
Imagine if I told you what I saw and I didn't show you any picture
I just read this post again and i notice that it was I helped to understand something I didn't get.
One Chart posted by MO + Dragon Lines = Patterns and BO.
I couldn't see it. Everyday I wonder the same question until one day I could at least have ONE answer.
Now new questions are in my head, I'm trying answer one by one.
Mira maybe today post one chart. LOL. This morning I had an order non-executed in NU. I though it'll retrace to 0.7316 but no. It went up directly until my TP Zone. Hehe.
I'm exhausted and got sleep. I set up an limit buy but anyway there are many opps in the market.
#JustTradeIt
My long term bag: Bitcoin, ZCash and Chainlink
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Re: The ideas that I trade by:
nat wrote:could you tell me what you think of the levels i drew on this chart? lines 1,2 and 3 look ok to me and 4 just doesnt look right for some reason. thanks.
9.15.png
I don't see anything wrong with your price levels.
- elkin.fernandez
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Re: The ideas that I trade by:
MO, look at this. I have problems with put my SL.
I put a Monthly Something Line. Price is closing below so price is down, isn´t it?
Now, in Daily. I see (2) closes below of Daily Something. But There is also a close above and now price so close to Daily Something.
I have to wait a close below in order to confirm that price is going to be lower?. You say that Position is the most important. So, if price is close below and above of my Something, i must wait that price confirm its direction so i freeze my position?
I put a Monthly Something Line. Price is closing below so price is down, isn´t it?
Now, in Daily. I see (2) closes below of Daily Something. But There is also a close above and now price so close to Daily Something.
I have to wait a close below in order to confirm that price is going to be lower?. You say that Position is the most important. So, if price is close below and above of my Something, i must wait that price confirm its direction so i freeze my position?
My long term bag: Bitcoin, ZCash and Chainlink
Re: The ideas that I trade by:
Hi MO
Is it prudent to always put your SL behind the local small time frame extreme when entering based on a Higher TF idea? Say I drop down to M15 to enter, is it better to adjust your SL (hence your position size) based on how far from the extreme you entered?
Is it prudent to always put your SL behind the local small time frame extreme when entering based on a Higher TF idea? Say I drop down to M15 to enter, is it better to adjust your SL (hence your position size) based on how far from the extreme you entered?
Re: The ideas that I trade by:
1. find a price level on an H3+ chart
2. adjust the level based on the M30 chart
3. default stop is 2 lines but you can get away with only using 1 line on weekly+ charts
If you are sized to an D1 chart then you should see a reason to enter on a D1 chart:
an exception to this is if you need to move from H1 to H4 position sizing due to increased volatility.
(The M30 adjustment has nothing to do with the TF that you are trading)
In the example below, if the large chart line is a daily line then I am going to reduce my position size by half
(the difference between H4 and D1 position size) and continue the trade on the daily chart at which point I
will have 3 lines of profit + 2 lines of risk for 5 daily lines of space.
Short answer: no, I don't worry about extremes.
2. adjust the level based on the M30 chart
3. default stop is 2 lines but you can get away with only using 1 line on weekly+ charts
If you are sized to an D1 chart then you should see a reason to enter on a D1 chart:
an exception to this is if you need to move from H1 to H4 position sizing due to increased volatility.
(The M30 adjustment has nothing to do with the TF that you are trading)
In the example below, if the large chart line is a daily line then I am going to reduce my position size by half
(the difference between H4 and D1 position size) and continue the trade on the daily chart at which point I
will have 3 lines of profit + 2 lines of risk for 5 daily lines of space.
Short answer: no, I don't worry about extremes.
thepark wrote:Hi MO
Is it prudent to always put your SL behind the local small time frame extreme when entering based on a Higher TF idea? Say I drop down to M15 to enter, is it better to adjust your SL (hence your position size) based on how far from the extreme you entered?
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Re: The ideas that I trade by:
Update previous chart.
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