Daily Trade my $482 dollars -10 pips Daily Technical analysis (Support/Resistance)

[Ying17]

it hit my resistance rapidly. I am having problem with my current Broker plus500, they said they can’t execute it and it was cancelled

[Ying17]

it hit my resistance rapidly. I am having problem with my current Broker plus500, they said they can’t execute it and it was cancelled

When i was trading the Demo OANDA and FXCM i didn’t have a problem and the profit was added. Im my journey as a forex trader, i didn’t expect that brokers play also a special role here. I felt sad to leave plus500 as i was using their platform more than 2 years. This is new experience for me.

[Ying17]

Hi Ying

Its non farm payroll today. About 1hr + from now. A trade with such a tiny stop is as good as throwing money into the drain. The spread during the release of NFP is obnoxious. Furthermore, the volatility is the largest of all normal news. You will get eaten alive unless you have some strategy to subdue the beast.

Yeah the strategy that joe advise me was super simple and profitable and loss less pips. As i was saying i am going to change broker next week. Hmmm about the news, i gave up news but i just watch the price accurately.

long @1.1443 <===price was entered suppose to profit but the platform im using told me that it was cancelled. 7 pip profit
tp:1.145
sl:1.1429

if wrong

short @1.1408
tp:1.145
sl:1.1422

[alphahavoc]

Is hard to explain without a chart. Babypips school explains well. I don’t take 2 points. Only 3 points and above. I look at the trend. I use daily tf to trade only and I look at 28 pairs fx currency. This is how i do. I look at 28 pairs , I look at where the price is and what it is current trend to its bigger trend. I would only trade if the price is in-between two strong S&R. And I go with the trend towards the s&r. NEver on the s&r lines.

Rather vague,
But point noted,
1.NEVER trade inside the S/R zone level.
2.use DAILY candlestick timeframe to label the major S/R zone level.
3.daily trend must follow weekly trend, only take trade in the same direction.

Thanks for sharing your experience,
I really appreciate the simplicity of your idea.
Experience takes time to earn, and sometimes can be quite painful to obtain. Sharing of experience is priceless to me.

Eg. Bob’s chart is really ‘s e x y’, and he haven reply yet, sigh…

[Joe_Ng]

Rather vague,
But point noted,
1.NEVER trade inside the S/R zone level.
2.use DAILY candlestick timeframe to label the major S/R zone level.
3.daily trend must follow weekly trend, only take trade in the same direction.

Thanks for sharing your experience,
I really appreciate the simplicity of your idea.
Experience takes time to earn, and sometimes can be quite painful to obtain. Sharing of experience is priceless to me.

Eg. Bob’s chart is really ‘s e x y’, and he haven reply yet, sigh…

For the 3rd point. I don’t look at weekly only daily .

Also Ying, take it with a grain of salt. Is just an idea I have. Generally I have only two method as of now. Money management and s&r . as for fib retracement . I do use it to readjust my SL. If price moves against me and having to decide whether should I readjust my SL . more than anything fib. Retracement is just a guide. Would recommend reading reminiscence of a stock operator written about Jesse Livermore .

[tonyro44]

I trade the NFP and i do ok with it. What i do is after the news come out, i wait until the spread comes down which is usually one minute or so and i use a mental stop and T/P. I am not looking to hit a home run with type of trading. I will usually will go inn maybe twice get some pips and then , trading as usual .

Yeah the strategy that joe advise me was super simple and profitable and loss less pips. As i was saying i am going to change broker next week. Hmmm about the news, i gave up news but i just watch the price accurately.

long @1.1443 <===price was entered suppose to profit but the platform im using told me that it was cancelled. 7 pip profit
tp:1.145
sl:1.1429

if wrong

short @1.1408
tp:1.145
sl:1.1422

[Ying17]

What trend indicators you guys using?

[tonyro44]

I use RSI,STOCH,CCI also 5,10,20 moving averages exponential. I only use all these as a guide line, all indicators lag .

What trend indicators you guys using?

[csc2009]

When i was trading the Demo OANDA and FXCM i didn’t have a problem and the profit was added. Im my journey as a forex trader, i didn’t expect that brokers play also a special role here. I felt sad to leave plus500 as i was using their platform more than 2 years. This is new experience for me.

Trading Demo never has those problems, only when you play real.

[_bob]

Eg. Bob’s chart is really ‘s e x y’, and he haven reply yet, sigh…

Something coming bro, just not going to take over Yings thread. I really like what he is doing here.

[Ying17]

Something coming bro, just not going to take over Yings thread. I really like what he is doing here.

Thanks Bobbillbrowne, well… i guess my thread is getting more realistic :). I’ve just deposited 1000 bucks at OANDA live account before their maintenance.

So i was trying to learn how to use the OANDA demo and its perfectly cool. Can adjust settings lot size ( 10,000 100,000 or even 500,000 ) with all currencies, but i would just only use 50,000. It so accurate even the number of pips. Two winning trades a day is not bad ei? andddd… it depends also the volatility.

I will trade near the market opens because of the high volatility if the R/S price is near i would prepare myself and do a quick set up. Last night i was using this demo and trying to look at the majors against minors.

USD, JPY, CAD, CHF, EUR and GBP… They seem to be correlated if the one major currencies against the other. Last night its was the USD/CAD. and i was looking at the other pairs with main CAD versus other currencies and it got my attention that this is how we make money in forex. Monitoring all 28 currencies are the best way to have a stable income.

I use only one laptop and an IPAD. My laptop was 4 years ago and i’m planning to buy a new one with fast processor maybe with i7 procs and greater ramsticks memory. I can’t wait to give up my day-job. It’s just a little more time of discipline in my side but i can see and feel my future. I’m gunna travel around the world and i’m gunna be a Forex Trader!

[Ying17]

Yes . mastergunner99. I was talking about this thread created by him. I like most of his idea . learnt a two from him.

Here is the link

301 Moved Permanently

Bro, what happen to MG99 thread? someone is taking over that thread…

[_bob]

Hi Bob,

Your chart looks really awesome.
It really blows my mind off.

Please correct me if i am wrong

Base on what i observe.

A box of high low range is generated at every 34 tick and display in a 9min interval fashion.

The box is also overlap at every breakout level of swing high or swing low price level.

This is a chart applying the concept of swing trading by overlapping 34tick per box over one another.

Inside the box, the vertical line is mark after the high or low of 34tick is established and a horizontal line in the 2nd part of the box mark 50% of the box HL range.

When compare to conventional time price chart. Here are some of my inferences,

1. Conventional time price chart demonstrate only the price level over a period time as a candlestick, bar or line.
   This gives a 2 dimension perspective.

2. Height of the tick box depicts change in HL range price level over 34tick. In some sense it feels like volume.

3. Width of the tick box show amount of 34tick complete over a period of time. In a rough sense, tell us number of participant in 34tick.

4. The overlap of boxes demonstrate swing trading concept.

5. Hence, i conclude this chart illustrate trend reversal point really well and adds a volume + participation dimension to the chart.

6. In summary, this chart has the following dimension
   A. Price
   B. Time
   C. Volume
   D. Participation
   E. trend direction

5D trading model

Lastly, may i hav a copy of this indicator or system? In return, i will give you another system of indicator.

Hope to see your reply soon.
I wonder how many people can appreciate what you have just posted here…

Here you go bro. You’ll find the indicator here. We won’t take up anymore of Yings thread.

http://forums.babypips.com/newbie-island/68200-price-action-trading-tick-charts-15.html#post764107

[Ying17]

Determination, Discipline and patience… Its gunna be challenging to me… Today will be first and most serious trading day as i will gain expected profit and less lost.

[Ying17]

AUD/USD
High: 0.7363
Open Price: 0.7359
Low: 0.7356

R1: 0.7361
Pivot: 0.7359
S1: 0.7354

NZD/USD
High: 0.6832
Open Price: 0.6832
Low: 0.6821

R1: 0.6836
Pivot: 0.6828
S1: 0.6825

[Ying17]

weak Japanese Yen, strong Nekkei

Long with AUD/JPY

[Ying17]

AJ
[email protected]
limit @79.55
[email protected]

NJ
long @73.72
limit @73.79
[email protected]

[Ying17]

AJ
[email protected]
limit @79.55
[email protected]

NJ
long @73.72
limit @73.79
[email protected]

adding the two pair in asia session
Au
long @.7395
[email protected]
[email protected]

NU
long @0.6855
limit @0.6862
[email protected]

[tonyro44]

So what you are doing is pure scalping from what i see you posting Ying17.

adding the two pair in asia session
Au
long @.7395
[email protected]
[email protected]

NU
long @0.6855
limit @0.6862
[email protected]

[Ying17]

Ive got a strong volatility in these two pairs before the euro market opens im pretty sure i can profit to this.

NZD/USD short @ 0.6824
[email protected]
[email protected]

AUD/USD short @ 0.7349
limit @0.7342
[email protected]