I’m Long E/U …want lots o’ pips on this one.
Also holding a E/J long in the room…up 35 now and locked BE. Gimme gimme euro strength today!! Daddy needs a new pair of monitors, lol.
I have a nice chart coming for you newfx…i didn’t forget.
Mike, I’m not allowed to tell you to contact me privately…if you catch my drift 
…I wil get around to posting more on my 1hr method.
Hey Pete, I observed the volume feed on two brokers and they are very different. Have you got any idea why? If we base our trades on volume who (broker) could give us a more reliable feed on volume? I tried one of them on demo and I found that the other gives a bit more draw downs than the other broker. One of them gives more precise readings but I know this broker…they run stop runs most of the time which cannot always be found with the other. Is the number of their clients (or traders) have to do with it?
Thanks Pete. Im still trying to understand how I can go around with volume and hope to build a method out of S&R, Fib Levels and Volume. I have this idea to get most of the things aligned with my style and objectives. But we have one thing in common…we believe in volume. :):)
Yep, broker volume is definitly an issue. I have done extensive testing between brokers and also compared them with esignal, which is a combined feed of 200 brokers, (for a few hundred dollars a month).
WORST: FXCM, FXPRO, FXSOL
BEST: GoMarkets, Spot Trader, IBFX
A chart explaining a trade I took today coming soon.
Took this trade today…
THIS IS KEY: Buyers get in low and sellers get in high. Volume at these high and low points will tell you who is stronger, buyers or sellers.
This chart shows a double bottom at murry math support. BUYERS are at the bottom, SELLERS are at the top.
Look at:
A. The amount of volume at the bottom (buyers), versus the amount of volume at the top (sellers).
B. The candles and price action around these top and bottom levels.
The candle that stopped this down move was a HIGH VOLUME PIN BAR at support. The pin is at the bottom side of the candle, signifying buyers. I could have taken the long after that candle, but waiting for a restest, and a double bottom was much safer.
The idea with this trade is to get in at the bottom…where the smart money is getting in. Was a scalp…I exited at the pin bar at the top and my rsx was over bought.
Buy LOW, Sell HIGH.
What causes a trend?
UP: Smart money has already bought LOW, without marking up price and most traders are short…THEN they mark up the price for profit, along with taking your money. How attractive this markup looks to buy…but your too late. They are not buying anymore…at least not like they did at the bottom.
They are more interested in where they will DUMP their longs, start SELLING, and KILL your weak position. 
This cycle will never change.
Look at the reversal from fridays BS sell off in NY, based on news.
“Wow, what a drop” they say…“100 pips in an hour, it must be a down trend, I will go short now” TOO LATE. News moves are BS, just an oppotunity to push price around. So they pushed it down 80 pips, 150 pips, whatever…so what comes next? They bought low!
I dont think brokers have any obligation to offer us a certain price, just by the fact that they all vary, and at times will vary to extremes.
Remeber, forex volume is based on ticks, and ticks (price) differs between brokers. I dont think there is ANY connection between offered price, and the positions taken by the traders who use that broker, unless they are hunting stops.
With no central exchange, the price is set by the broker.
One example is FXSolutions, which I have traded live with. Their prices are “smoothed”, meaning…when fxcm moves up 5 ticks, and down 2, many times you will just see fxsolutions just move up 3…and a few seconds late. Therefore the volume feed SUCKS.
The brokers with good volume feeds, are probably just offering us something more similar to the rates THEY are actually getting.
I dont claim to be an expert on how brokers work, I’m just stating the obvious based on what I have seen, and I’m open to hearing any views you guys might have on this.
hi pete,
thanks for the chart, it explain much better, qn why dont u stop at the top trading range line ? are there any indication that it will pass that line ? myself may sell it over there worried about reversal … thanks
In other words, how did I know it was going to break out?
Because, if there are clearly [B]more buyers [/B]then sellers at a [B]double bottom[/B], then price will break the next resistance level 90% of the time. Look how low the sell volume was before it broke up (marked in red on the volumes indicator) If it was going to continue to range, sellers would have needed more volume there.
hi,
thanks pete, does it only apply with double bottom, and what level u regard as low ? is it under 30 or by comparing with the previous lower level of the volume.
It doesnt only apply to a double bottom, it also applies to top and bottom of a range or channel, or at the top or bottom of a trending move at s/r. I probably have some good examples in this thread, and I will post more soon.
High or low volume is realitive to the range, I dont look at the actual numbers on the volume bars…if you are refering to the 30 on my chart, that is the RSX 30.
Hello petefader!
I like your way and I am interested in geting more information?
Today I was loading the volume indicatore at MT4 and i was waching it to the E/U 5M and 15M chart!
But why are the Bars in different colores?
Sorry for the beginner question ,but i tried to find it out on the web and i got no information!
pipsalot:)
When you first load the volumes indicator, the default is green for higher volume than the last bar and red for lower volume…it does not mean buy and sell. If you want to learn, start by reading this thread, then I will answer any questions you have.
Just took this g/u short. This 4hr is nice and simple.
Also volume confimed sellers on 15 min with hi volume pin bars at R1.
That system looks good, but for now i’d be on demo training my self to trade with absolutely no indicators 
reason being* i saw this interview with this isreali guy that trades with nothing and is mega rich, so if he can do it i can… then when i master that i’d be gettin me myself a good system, then i shud be unstopable! :rolleyes:
By the way @ petefader, why’d u draw a trend line in the middle of those 2? hmmm??
yeah, not everyone trades the same. You have to find what works for you, but i could see trading the 4hr and daily with no indicators…maybe just a fibb.
If you mean that upper trend line I drew, ya it was just sloppy…that line is now at the top of the pins on my chart.
the trend line in between the upper and lower, what’s that for.?
the 1 between the upper and lower, what’s it for?
There are fibb lines from my daily chart (not that i am married to those levels) and a line indicating current price. then the red line shooting down is my basic projected price path…that should about cover it, lol.
Oh 
oki
Well, I ate 35 pips on that G/U…can’t win em all.