Parabolic SAR - that's all!

[capt.findus]

i think EUR/GBP is betraying me...

[dpaterso]

And I'll tell (show) you why!!!

Sorry - I'm not questioning YOUR judgement - I'm just showing you (as per our 'new rules') why I did not take this trade.

Food for thought.

Regards,

Dale.

[capt.findus]

extremely useful picture! thank you

[pip huntter]

Originally Posted by Bocajunior

Hello again,

Ok, so I took GBP/CHF Long position today based on signals on my Oanda platform. I also have a demo account over at Northfinance with an MT4 platform so I thought I would take a look at the charts there.

Playing around with the trendlines (I'll be honest here, I don't really not what I am doing) I drew a channel and it is possible that the upper trendline could be used as a profit target for this pair (2.0470). Whether I use this or not is another story. Have a look at the attached chart.

I have some platform questions if anyone is using Northfinance or MT4.

1. MT4 is a platform that is used by many brokers. Is that correct?
2. On Northfinance, there are only 12 currency pairs. Are there any more?

I find the charting elements on MT4 to be excellent. The account management of your positions etc is not so good though. All opinions welcome.

All the best

Hello bocajunior,

Yes MT4 is a platform that used by many broker like ODL,STIFX,Northfinance.....

I have 28 pairs tradable on my MT4 platform

Akram

[dpaterso]

Hello again,

capt.findus:

EUR/GBP:

Don't get me wrong - it will - in all probability - turn into a good trade - especially if the BOE keeps rates the same or lowers them (of course then you have the ECB to worry about as well on the other hand).

Edit:

Ignore the above statement - I'm talking nonsense - lack of sleep - no concentration!!! If the BOE keeps rates the same or lowers them - this trade is going to go 'sour' i.e. the EUR will STRENGTHEN against the GBP - NOT the way I described it above!!! If - on the other hand - the ECB keeps rates the same or lowers them - THEN it would be a good trade!!! Sorry - my mistake - only noticed it now.

The pair 'appears' to have found strong resistance at around 0.7026 or thereabouts which also favours the trade BUT - like I said before - especially lately - I seen the MACD MA's 'just' touch and then move away from each other and leave you either holding on to a losing position for longer than is necessary OR at worst case you get stopped out AND EVEN WORSE you get stopped out AND THEN the price almost immediately goes in 'your favour'.

And again - do not overlook the importance of RSI or Stochastics - just have a look at EUR/CHF to 'get the picture'!!!

GBP/CHF - I don't know - 'ALMOST' seems 'right' - just this 'looming' BOE interest statement is 'bugging' me. If nothing else - it MAY retract - and then take off - in which case you'd be getting it at a better price anyway.

(It's amazing how far from 'pure' Parabolic SAR we (I) have come is it not)!!!

And yes - it IS 'killing me' to not take trades - but - at least I'm not in 'bad' trades.

As far as the Indices go (for anyone interested): 3-Q earnings / results have started coming out of the USA with a 'mixed bag' of results (some 'big ones' reporting 'less than stellar' results). I don't think it's going to take too much to push the Indices 'over the cliff' and - if they DO go up - it won't be for long.

Regards,

Dale.

[robstyle1980]

Originally Posted by timbaboy

Hey Rob,
When I read your posts I laugh, because you always mention you so new to this and yet you seem to be very experienced and helping, after I hear that you are new I don't even know what to think of my self anymore LOL
Ok, but 1 question, why would you need a broker if using this system, because it doesn't actually require to seat all day long in front of the monitor, but just a little while per day. Maybe I am wrong in this, please correct me if I Am.?

Thanx a lot for your help,
Best regards,
Timbaboy

Hey Timbaboy,

I'm glad I am able to make you laugh! Yes, don't take me as someone experienced in the ways of FOREX. I'm very new at it all. In fact, I just started using demo accounts last week and spent the week before that studying and reading about it all. I'm sorry if I misled you or anyone else as if I was experienced. I think it seems that way because I just understand this system really well. I caught on to this system a lot quicker than any other. And I'm always just willing to help with whatever I can.

I'm still very much a noob with it all. I'm still having a hard time wondering when I should exit. I know theory is to exit when everything reverses... but it is so tempting to exit before. I mean, who's to say that I can't get out when I feel like it... but on the other hand, it's tempting to see where the thing goes, i.e. more profits. I'm just glad I'm on a demo account.

Capt. Findus,

I started cracking up when I read your post because I felt the same way. I felt the same way when I entered GBP/USD two days ago, but now I'm like, I love you GBP/USD! LOL. Now when I look at EUR/GBP, I'm not too worried. Everything is going my way... for now.

Maybe I'll post what I'm seeing right now. I like to compare charts with Dale's platform because it's amazing to me how different MT4 is with Delta.

[robstyle1980]

Here is what I'm seeing as of 2:42pm EST with the MT4 platform.

[robstyle1980]

Wow, awfully quiet today! Well, at least since 11am for me this morning.

How's everyone doing? Positions holding out? Sure hope so.

I've been playing around with Oanda's platform. Not too bad, I must say. In fact, I like it a lot. I could use it along with MT4 for sure. I could see using it alone, but I feel that MT4 charts and indicators are more responsive... though I guess this could be a good thing and a bad thing. Suppose a less jumpy platform would keep me in or out of a trade.

Anyone have any comments/complaints about Oanda as a broker? They seem pretty good. I think I might go with them for my first time out.

Hey Dale, you ever consider setting up a forum group through Yahoo or some such thing? A place where we can all talk business and pleasure without confusing a lot of newer folks coming in looking for a new system here? I mean, we could still post system stats and progress here... but have another spot for the converted PSARists to go without jamming up this thread with chatter on football and music? Or should we let the non-psarists dredge through the piles of chatter as an initiation? LOL... Anyway, would be kind of fun if you or someone was able to set that up. Just a thought.

Have a good night... morning... afternoon... evening, wherever you may be on this blue marble floating through space.

-Rob

[timbaboy]

Hi guys,
Since I have started to follow this thread and the system, I have entered in 5-6 trades and I am in positive balance in all of them, it might be luck or coincidence, but I just followed the rules nothing else.

My questions are:
What are the rules for exiting the position?
Except for the moment when everything turns around, it might be too late to pick up the profit.?

Do any of you make a living out of this?
Did any of you make a fortune out of this ?

Of cores the last two questions are not important, just curiosity, nothing else.

Thank's for the help,
Best regards,

[Hypechic]

Good day everyone.

We had a long holiday weekend over here. Hence my absence. Dale, I thought you had a better sense of humour than that * a la the Ingot postings*

I got stopped out of my long EUR/GBP position for a profit. EUR/NOK went to hell and I closed it out this morning. AUD/USD Long is still going strong but I've locked in profits just in case. I took the EUR/GBP short trade a couple of minutes ago because MACD has crossed, Stochs broke out of the overbought zone and there's a second PSAR dot to go short. Also took GBP/CHF long cos MACD has crossed, seems to have done that a couple of days ago, Stochs is heading up, it's currently above 50 and PSAR has 3 dots. Let's see how things work out.

Cheers.