Strategies, Systems & Indicators

[maidass]

Hi All,
I'm back n cnt xpress hw happy I'm to b bck wth my people, where i blong to.
Congrats Ashish. U Rock Buddie. Keep da good wrk gooooooooing.
Hi Sumit, wass up?
Misssssssssssseeeeeeeedddddddddd u all soooooooo much..


It is not important what you do,
Till the time you know the
importance of doing it

 

[ashish1802]

Dear Ashish,
Plz let us know if its a demo account or a live one (not that it matters with yr performance though).
And also what leverage r u using?
Dear Edward Sir & Ashish, if i have booked profit on a trade on a 30 Min TF, and if the trend / market is favoring me on 1H, and 4H TF in the same direction that i book the profit, can i keep my trade open for more time or do i buook my profit n await a fresh signal?
Thanks in advance.

Touchfx

1.I trade a demo account
2.The levrage is 1:100 .. I dont use it though.. I buy only 0.3 lots (This is in testing phase hence)
3.I follow only 30 mins and once i m out dont trade the same pair till new signal is generated...Not that this the best strategy ,but this is what i use...May be what u have mentioned may b good..we need to try out...i m just posting wht i have impleneted.

AShish

 

[Edward]

Riding the Wave...

Hi Touchfx, (I will love to address you with your name.. if you don't mind sharing... other wise this Touchfx, with a little sensuality is also fine )

You have 'again' asked a good question.. I have covered this before.. but will love to cover it again...

Once the 30 min signal is squeezed.... go to the 1H charts... if its a long trend.. you sill get a signal in 1H too.... and if you ride that .... evolve to the 4H... but take the entry with a 30 min .. reentry or an hours re-entry...

hope I m not confusing..

Ashish trust me.. I see a confidence in your writing.. which is so fresh and contagious...God bless you dude...

Hope you get a hot girlfriend from TJ itself :rofl:

Dear Ashish,
Plz let us know if its a demo account or a live one (not that it matters with yr performance though).
And also what leverage r u using?
Dear Edward Sir & Ashish, if i have booked profit on a trade on a 30 Min TF, and if the trend / market is favoring me on 1H, and 4H TF in the same direction that i book the profit, can i keep my trade open for more time or do i buook my profit n await a fresh signal?
Thanks in advance.

 

[Tavnaz]

Hello Edward,
I have a question about TA and its the most basic one.
The problem is i have been into TA for a while and advanced my skills but somehow a very wierd question pop me in my mind.
Which is in case of S/R Zones do you give more weight to close or price spikes while drawing them.
And this came as a fact, when i was trading more volatile pairs like Swedish Krone against American dollar.
USD/SEK
Waiting for your reply.
Thanks in Advance
Tavnaz

 

[ashish1802]

One query..

1. Bought EURUSD..
2. Bought USDJPY

Is this not contradicting in the sense that in 1st case we are bearish on usd and in the second case we are bullish on $$ ...so when 1st trade will gain the second may go in loss...

What to do in this case..tke both trades ?

 

[Edward]

Tavnaz & Ashish

Hi friends,

sorry for all the delays in answering your questions and not posting much in the last 10 days... I am really stuck up with few important activities, which will decide the direction of the coming few years for us. Thank you for your patience and your contribution to the thread in helping other new comers.

@ Tavnaz,

This is a very subjective question and you will have 100 different variants if you ask 100 different people. I will try to answer it from the perspective that I see it.

I am not using the SR for the time being, used to be a big fan of it once upon time. But to your question of whether the SRs consider the spikes or the closes, I would like to give my understanding of it.

As I see it, the 'close' per se of the 1 hour candles or the 4 hour candles or for that matter any other candlesticks are not very important, for the simple reason that you are calibarating time as per your geographic location and thus it is not a sacrosanct value (a laxman rekha).
But I understand that the close of a EURO/USD pair at the end of the european session or the US session does give us an idea about the major players outlook to the valuation. Now the bankers really don't rush to their MT4s at the end of the 1 hr candle or the 4 hr one... but they all watch and trade the closing session... and the Close of the session is the most important value.
Try this, use alpari and gci simultaneously and see the candlesticks... you will not believe your eyes... they look so different because each uses a different time for opening and closing of a candle.

To conclude, 'the Close of a European session or a US session, is the verdict of the involved countries' so they are very important.

Now to the High's and the Low's... we have heard the 'Saints of the Price Action Temple (sounds like the Sholin Temple ) an uptrend is about 'higher highs and higher lows' and the downtrend is about 'lower highs and lower lows'..... nowhere the close is mentioned.... but the highs and the lows.... and rightly so...

Remember 2008 January, I think the 27th... (don't remember the date exactly) Sensex & Nifty crashed, the made an unbelievable low... and then again on Oct 27th I think.... What does it mean when the spikes are so low or the spikes are so high... it simply means for me.. that some big players with enough volume to drive prices are "READY TO BUY AT THOSE HIGHS AND READY TO SELL AT THOSE LOWS".... wow.... so a segment of the market is ready to pay the price... or sell so low.... and that's scary to me or rather provides insight to me... that people are ready to buy at those highs and those lows....
Do you remember the Saints of the Price Action Temple also speak about retesting the highs and the lows... and not the close....
Right so the high's and lows are more important than the close...
Now if you are broker out of Nepal and your mt4 is adjusted to your Nepal standard time then.... we will have many in the coming few years.... you will see that that the candles look completely different... but thankfully the highs and lows will give 90 % of similarities...

Desifxtrader once remarked that supports and resistances are not a particular point.. but a range.... so you need to see the band of the pair.... for eurousd if it's 20 pips... eurojpy will be not less than 50 pips... and so on...
Hope I have given my perspective in clarity...

Ashish.... your dillema is simple dude...
EURO USD & USD JPY

there are three variables... namely three countries involved.. US, Europe and Japan (don't shoot me for calling europe a country... I know few of you were ready to pull the trigger)

Now the US is sleeping while the Europeans are awake, and the japanese are ready to close their shop....

Imagine a situation where the Europeans are getting their some important nos. may be a interest rate thing, few GDPs or something important.. and at the same time the Japanese are getting few important nos...
Now the USD is more or less constant as nothing has changed in it's dynamics... but the europeans and the japanese are reacting to their 'OWN LOCAL DYNAMICS" in this situation.... you will get what you said...

Hope this clears your doubt... anyways guys... happy trading.. and would love see some post their good results.. here...

 

[Tavnaz]

Hello Edward,
Thank you very much for your reply.:thumb:
Now i very much think, that i understand this concept of Price action more better and i am thinking about it.
From your wordings i understand that the Pivot zones act like zones because the order flow is consistently building in them,and it does not act as a single line,but rather a zone because different traders around the world have different time feeds, and are anticipating the exact positions of Whales in Forex.
Am i right about this Edward?

And as far as the thing you are saying about open and close, I understand that also, as a Pinbar or hanging man in a daily chart looks like just some unknown candlesticks in a 4 hourly chart.

But one thing i am still not clear about is if we are looking at different data feeds still why price action holds true?
And how do we all as traders, place orders some where around each other to foster a move in a direction with the big whales.
Guess i will have to think about it!
What do you think about it Edward?

Also Edward, you say you don't use S/R Zones anymore, so how do you anticipate the Price, because as i know you are a very good trader as is visible with your work, you may be using something unique.
And in continuation of the above words only, what do you think about Price action, do you believe in it, or not?

The example in which other system's might land into trouble will lie in this big trade example.
What if lazy boy's crossover is signaling a buy and we are up against an unseen order flow in the direction apposite to the signal,just because the trader did not know about the order flow of shorts or limit sells.

Which reminds me of one time, when i was sitting and trading USD/JPY and some how it seemed to be respecting its 15 minute time frames resistance.
Which should'nt have happened, because i can't believe, somehow price could react to a 15 minute time frames price action.

After all this clears up, may be we have to open a thread on unseen order flows S/R and orderflows.
I am waiting for your reply
Regards
Tavnaz

 

[Edward]

Hi Tavnaz and Friends,

I am just leaving for Surat, we have another round of forex tradining training workshop tomorrow at Lord' Plaza, in Surat.

This events take a lot of time in preparation and logistics..that has slowed down my participation here... but promise to be here full fledged starting this monday.. so guys take care and happy trading..

Tavnaz, I will try putting my perspective on the things that you have raised in the last post.

God bless

Hello Edward,
Thank you very much for your reply.:thumb:
Now i very much think, that i understand this concept of Price action more better and i am thinking about it.
From your wordings i understand that the Pivot zones act like zones because the order flow is consistently building in them,and it does not act as a single line,but rather a zone because different traders around the world have different time feeds, and are anticipating the exact positions of Whales in Forex.
Am i right about this Edward?

And as far as the thing you are saying about open and close, I understand that also, as a Pinbar or hanging man in a daily chart looks like just some unknown candlesticks in a 4 hourly chart.

But one thing i am still not clear about is if we are looking at different data feeds still why price action holds true?
And how do we all as traders, place orders some where around each other to foster a move in a direction with the big whales.
Guess i will have to think about it!
What do you think about it Edward?

Also Edward, you say you don't use S/R Zones anymore, so how do you anticipate the Price, because as i know you are a very good trader as is visible with your work, you may be using something unique.
And in continuation of the above words only, what do you think about Price action, do you believe in it, or not?

The example in which other system's might land into trouble will lie in this big trade example.
What if lazy boy's crossover is signaling a buy and we are up against an unseen order flow in the direction apposite to the signal,just because the trader did not know about the order flow of shorts or limit sells.

Which reminds me of one time, when i was sitting and trading USD/JPY and some how it seemed to be respecting its 15 minute time frames resistance.
Which should'nt have happened, because i can't believe, somehow price could react to a 15 minute time frames price action.

After all this clears up, may be we have to open a thread on unseen order flows S/R and orderflows.
I am waiting for your reply
Regards
Tavnaz

 

[Tavnaz]

Hello everyone,
And thank you edward for finding time out of your busy schedule for replying to my post.
I will be eagerly waiting for your response.
And ashish are you just using edwards method, or combing any other thing also.
See ya later guys.
Regards
Tavnaz

 

[ashish1802]

Hello everyone,
And thank you edward for finding time out of your busy schedule for replying to my post.
I will be eagerly waiting for your response.
And ashish are you just using edwards method, or combing any other thing also.
See ya later guys.
Regards
Tavnaz

Hi,

I use only edwards method for taking signals..but the chart also speaks for me
If i see market that has been in a range for quite some time.i let the signal go by...whn the chart shows some yummy pips i enter....most of the trades are taken ..but yes a few signals are filtered....and its just charts alone...