THE JOY OF CANDLESTICK TRADING - a Learning Experience

[bigmike]

First off, I use to trade stocks, but have now moved over to Forex since it is exciting compared to stocks and easier to follow a smaller number of currencies than checking on 200+ stocks each morning and deciding what I would trade. My trading setup at the moment, is 4 19" monitors and then my laptop beside me, this allows for my charts to be on the 4 monitors and then I use my laptop to execute all of the trades and do my research. To clarify, my laptop has a 19" monitor hooked up to it since I hate looking at a small screen. This may help you , but if not maybe it will give you an idea of a trading setup.

[mytwopips]

Sure beats my apple II

[VulcanClassic]

Kool.

Takes me back. Remember the Commodore 64 with those click buttons?

[tymen1]

Originally Posted by VulcanClassic

I signed up demo with them and received an e mail with username and password from GFT. Only thing I'm not sure of is; my platform says GFT all over it, nothing about kinetic, we'll see if it goes away in a month.

Maybe the version of Dealbook does matter in terms of expiry.

Honestly I couldn't tell you one way or another.

Maybe Tymen will have some input on this.

Hello there, I am back but by no means well. As you get older, fighting off an illness becomes steadily more difficult.

However, I shall perservere.

Firstly, please note that Kinetic Securities is located in Sydney, Australia. I am told that if you open a live account with GFT, then they give you the demo indefinitely.

With Kinetic, just say to Jay that you will open with him instead if he gives you the demo indefinitely regardless. Kinetic is a new and very progressive company and they have a policy of giving you just that little bit better service. I sure he will give you an indefinite demo for starters and you will be able to do long practice that way.

The passwords are different from the 2 companies. Pick the correct one. Also, if you trade with Kinetic, it may be wise to download the platform from their website there may be small differences in updates.

[KENNETH LEE]

Thanks Mike ; I am going to check into a different Video card . See howmnay outputs You cna get or install mulitple cards. Boy reminds of where we cane from in the computor world.. My first exprience was with punch cards in middle school actually punched cards they took away and ran through a computor. My stepfather worked for Honeywell and had one of the frist portable computors , fullsize suitcase lokked like a typewriter with screen and a telephone cradle modem.. Boy sure don't wish for the old days when it comes to computors.. Hope Tymen is feeling better.. again thanks for the reply.. Ken

[KENNETH LEE]

Well Hello, Glad to see you back quess you popped in while I was struggling typing.. Glad to see you.. Ken

[tymen1]

To Vulcan Classic : no worries about the change in topic - we need the information!

To mytwopips :

I like your excellent high quality picture. Your apple will never crash !!


To bigmike :

Welcome to the forum and this thread. You certainly come in to trading in a big way !
With that much watching power, you won't miss a thing !!

To pipwrangler : Than you for the post about IBFX

To concept :

Higher time frames will give you less patterns (less frequency) but they travel further ie you get more pips out of each trade. You can also lose ever so much more in your stop loss

The patterns on higher time frames are significantly more reliable. But we compensate for that by trading only on the BB. That should return the edge back to the shorter time frames.

To KENNETH LEE :

Great to see you got your first trade with success !!!

But 15 minutes is a little short - you are dipping into the noise bands.

I would suggest a minimum of 20 minutes.

Now for the setting out of the charts, see next post.

[tymen1]

To Yuv and Vulcan Classic :

To get more charts on GFT, you simply right click the icon/tab /"workspace" at the bottom and then click "add workspace" or "clone workspace"

In this way, you can get as many charts as you like.

[concept]

I was more wondering if I can use BB and a higher time frame say 1 hour or even 4 hours w/ KC and whatnot... I have a bit of patience thats why I am asking

[tymen1]

Here is my set-up of the charts. I use a very high resolution 22" LCD monitor.

Notes below >>>


By tymen1 at 2008-04-14

I trade the time frames 20,25,30,35min.........................55min,1hour for the 4 majors.

So I have 2 tabs or "workspaces" for each currency. One tab shows 4 charts - 20,25,30,35 mins.

The 2nd tab shows the remaining 5 timeframes.

The picture shows the latter 5 timeframes of USD/CHF. (swissy).

If you look carefully, you can see all the tabs in a row right at the bottom of the charts.

In addition I have the 5 and 10 min time frames. I set the choice of currency pair on these when I need them.


Now, with the GFT program, each one of these charts is fully independent of the other.
Each chart has its own timeframe, its own display type, its own currency choice, its own grid settings, its own indicators and settings, its own chart parameters (size, background, positions etc, etc ), its own time scale (GMT, local etc with daylight saving setting), its own print options ............etc, etc.

Each chart can be maximized to fill the whole screen or minimized again with one mouse click (standard Windows operation).

Entries, exits, stop losses etc set on one chart for one currency are shown on all the charts for that currency automatically.

The only drawback is in the initial setting up of the charts. Because each one is independent of the other, you have to do heaps and heaps of mouse clicking to set them all up!! But once done, all is good. When closing the program, you click "yes" to "save current layout" and next time you open the program, its all there !!!

I like this program.

So with all these charts, I can be Mr Vigilant.
If you see a pattern forming on a particular time frame, the you can compare this pattern on the adjacent time frames to see if the pattern forms better on another time frame.

Clicking quickly from tab to tab allows viewing of trading on all the major currencies. One only needs to see if something is hitting the Bolinger bands.