Forex rebates on every trade - win or lose!

Choccie, Adobe are lying to you. Download 8.1.1 - that should work. Incidentally, Adobe is named after the Adobe creek in Palo Alto. Not many people know that. D

well stopped out on the rest of eurusd at 1.4642 which is a pity as I thought i had a good trade there. Morale of the story is that when multiple indicators start turning against you get out fast. very fast.
However, i'm pretty happy cos i think i got a good entry and i did close some just before the indicators turned dire.
Still a lot to learn but at least i am trading a plan.

CC,

In a post several pages ago you pasted up this chart and commented about the box with various trends from different timeframes in the top left corner.

Do you happen to have a name for that indicator or could you point me in the right direction for it please?



Well done with that fiber trade on Friday, btw. That was a good entry. I couldn't help but feel though that your exit strategy had a bit more to do with "thinking and hoping" rather than "seeing". Hope you don't mind me saying that.

the one I have is called _signal bars v3 daily.mq4.
I believe there is now an updated v7 but i don't know what the difference is.
I got mine from here post 1:
http://www.forex-tsd.com/suggestions-trading-systems/8728-follow-bouncing-pip.html

You will need to alter the settings in inputs to get rid of the extra details and move it to the left hand corner which i prefer and of course to alter the macd, ema and stoch settings to whatever suits you.


Exit strategy - I got to tell you that it seems like i'm going to make every mistake in the book at least once Hilary.
Despite all that banging away demo trading the cross of the zero line to introduce some discipline it went completely astray with real money on the exit. About 5 hours after i'd closed the trade I realised what i had done. I'd been trying to second guess where the market was going rather than taking what the market was prepared to give me based on my one indicator. Once i realised I was really cross with myself.
It seems crazy to be sitting here admitting that I did something different with my real money rather than my demo money but that is what i did. Stupid stupid thing to do but it just shows how psychology pays such a big part. I'm not going to make that mistake again though - no way.

With all my thinking I acheived +22. If I had just traded off the indicator I'd have made about +31. It would have been alot more relaxing and I'd have been able to spend my time looking at other things.


Next week i'm going to be totally in control and I succeed at that, then hopefully i'll be ready to move on to the next stage. Which no doubt i'll screw up first time as well ;-))))

My version of Metatrader (Alpari) doesn't do Sunday evenings. What about anyone else?

Depends on what you want Seymour. Alpari does do Sunday evenings but the Sunday candle gets included in the Monday candle whereas Northern Finance shows Sunday as a seperate candle.

Try drawing some trendlines and then watch were the support comes out in real time and i've discovered that some parties use a Sunday candle for drawing the trend lines and some don't.

I really really don't know what to make of the whole issue.

That's great, many thanks CC. I intend to "doctor" it in the hope that I will be able to get rid of a couple of other indicator windows and make my desktop easier to read.

Incidentally, ODL open just after 8pm on Sundays.

I like their newsflow too.

Hils

Thanks for your advice - I waited! Which as it happens seems quite a good move.

I always close everything too soon so I am just biding my time.

That was exciting......

Anyway a very profitable day, now to do some work.

Sue,

I'm not sure from your post whether you closed your cable short or not. Well done if you did manage to at a much lower price. Despite it wobbling over the last few days and making a new low, I'd still say from my dailies that it's heading up to give a fresh short entry from a higher level over the coming days and weeks.

The 4 hour chart paints a similar picture with definite signs of life.

There's something definitely odd about the way in which Metatrader handles its lines.

The red and blue trend lines in the 2 charts above are set up so that they appear in all timeframes.

On the daily chart they cross on 30th December, yet on the 4 hour chart they cross on 7th January and on the 1 hour chart they cross on 9th January. Strange!

Sunday candles Hilary but I can't quite put my finger on it either.

Oh and problems with the H4 candles due to Sunday too depending on your provider.

Fork 'andles?

EUR/JPY - to trade with bullish bias, supported by carry trades amid improved risk appetite. EUR/JPY daily chart positive-biased as bullish key-reversal day pattern completed yesterday, stochastics turned bullish at oversold, although MACD remains bearish. Immediate resistance at 157.83 (Thursday's high), then at 158.47 (Jan. 16 high); support at 154.20 (hourly chart), then at 152.09 (yesterday's low).

Looks to me like it's making lower lows and lower highs on the M1, Chocopops, and the M15 dottie line suggests it's got further to fall.

Unless that's a higher low at 10:17 of course.

:o)

Still not sure whether long term support was broken Monday/Tuesday, Hil.

I think the writing was on the wall with the failures in October, November and December to retest the July high, Chocopops.

I'm an avid follower of Ruthie's Magic ArrersTM and I've noticed how it's been rallying on the weekly charts as the signal line exits the histogram just using the standard MACD settings. I think the big test is going to come probably sometime this spring when the next imaginary up arrer is likely to appear. If it bounces up then, you will be able to say that the carry is still alive and you'll see global equity markets enjoy a summer push up.

If the arrer loses its magic at that point, I think you'll be able to kiss goodbye to the footsie and the Dow for a few years to come. I suspect that it will fail to gain support with the up arrer given the fact that markets always tend to go a bit wobbly as US elections start to loom on the horizon.