Random thought but what is a 2:1 boll on the daily transformed onto the 1hr chart?
Something like a 50:1 boll?
I got in from the daily breakout (Frankfurt time) though lastnight looks like it had a good entry point…
dang, I went long last night when I saw it bouncing off my trend lines. But my stop was too close and it got stopped out during the night. I get up this morning and it’s stalled out at my upper resistance line.
dang, I went long last night when I saw it bouncing off my trend lines. But my stop was too close and it got stopped out during the night. I get up this morning and it’s stalled out at my upper resistance line.
When did you go long? I am looking at last nights chart and the only good entry I see are around 1:00 AM(outside the 20:2) and maybe 3:00 AM(bounce off the 60:2 center on the m15)the . I am just using BB and am not familiar with the TD H1 method. I am trying to understand what some other people are seeing.
You talking GMT or EST, not sure where you mean.
Around 2300 GMT there was a possible 15min bounce but not necessarily ideal as the 1hr wasn’t outside of its 20:2.
You got a chart?
The 1hr crossover strategy is simply to go long when MAs cross over the middle 1hr bollinger (around 0300 GMT) - TalonD?
I actualy entered once about 2300 gmt, not long after Oanda opened and caught that early spike up about midnight gmt. Hope I’m getting my times right, have to go back to the chart and take a look. Evening hours I tend to have a tight trailing stop and look at the 15m chart a lot. However, I do look at the 1h also entered based on the 1h around 2 or 3 gmt, it hadn’t crossed yet but looked like it would so I got in. Went to bed with a tight stop though which got hit sometime during the night.
I have two 1h charts that I look at. The original with multiple red MAs and the strat says to enter when all the MAs cross center bb. but I have a heiken ashi that I use to try to get in earlier and not miss so much of a move. So that’s why I got in around 2am gmt, and also the center bb was pointed up so I figured there was some upward pressure.
I’ll post a pick of my two 1h charts.
EST
I wasn’t very clear
I had an experience this morning that makes me glad I am using my “learning account”. I was looking at the M5 and suddenly it shot up hit my stop and kept going I thought “Must be news” I watched it when it started to slow down I went short. I didn’t look at the spread! it was way bigger than the stop I use to scalp little bounces and my lot size was scaled for that tight stop. See where this is going? In a matter of seconds I lost every thing I had made in the past few days:o. I call it my “learning account” because I am still learning not to do dumb things like this.
I usually trade the Asian session and I glance at the news but its usually has a minimal affect on my trading. If I am trading during the day I better take a closer look at news time, and pay attention to little things like lot size and spread:rolleyes:.
Here are my two 1h charts. The usual one. green price line, red MAs blue 63ma, blue bollingers a 20:2 and 20:3, one new big yellow line a variable moving average, was just curious to see what it would look like. the vertical orange line is 2am gmt, about where I entered. Technically, I’m entering before the crossover signal on this chart. But if you look at the heiken ashi chart… 20:2 bb again, and you’ll see the channel formed by two yellow lines, those are 7period sma one on the high and one on the low to make a channel. When red changes to white, I enter even if it hasn’t crossed center bb yet. If it ‘looks’ like it’s headed that way and I have two or three white candles and they look to be hugging the top of the channel, opposite for a sell. notice after all those white candles there are a few reds showing right now. so I have a sell going on right now based on these. Not at work today so just sitting here watching it.
Edit: that down move that’s going on right now started at the news candle.
Learning account. Good description. That’s what I should call mine too.
Yep…mine is a learning account also…with $ in it! i am learning how to trade with less and less of an account balance 
Hi Talon
I have been sitting here for the last 3 hr. watching the PA do battle with the 1.6600 level and the 200 MA on theM5 &15, the 63 MA on the H1 and M1, won’t
get out of the way.
Maybe when we get by that it will be all down hill (or not).
Guess I’ll have to wait and see. 
John
Waiting is not the goal, but may be a necessary stage in attaining the goal. We wait for what is worth waiting for, and in the process learn patience. (Prayer by Philip Yancey)
Been there done that.
Just keep your trade amounts small and you can learn cheap, like me. 
Mine is not… but I can and do still make dumb decisions. I would seriously advise trading a demo account until you can consistantly call a correct trade 80% of the time. No need to waste good dollars.
I dont want to bring anyone down but even when somebody gives you the keys to trading it will still probably take 1000 hours of practise to get good. I liked the earlier analagy to learning to drive a car.
after 30 years, I bet you make a lot fewer mistakes than the rest of us !
Obviously by now I’ve been around the block so many times i’m dizzy but seriously… I recon on about two years to reach the level of pro trader. Sounds a long time but not really if after that you get 80% plus correct trades. Not a bad return on time investment. Then chuck in $1K and its $1m in 2-3 years… simples! :D:D:D
I dont want to bring anyone down but even when somebody gives you the keys to trading it will still probably take 1000 hours of practise to get good. I liked the earlier analagy to learning to drive a car.
That doesn’t get me down that just means their is hope for me:D. I am not using a demo but I have found for me losing a few dollars now is worth the learning experience. You can bet I won’t make that mistake twice.
i concur with this.
I think trading generally involves greater level of intelligence than most folks believe.It seems we tend to understimate this aspect.
2 years eh? then I’m a quarter of the way there 
I was just thinking… it took me a lot of tuition and four years to get a college degree so I could get a real job.
so to get a hyper car, it’s worth whatever time and effort that’s required.
Errr… hope not. 
In the 80’s alot of traders started out as ‘runners’ for the trading pits. They were usually blue collar working background kids but made it up through the ranks.
These days its either experienced traders crossing over from CFD or ivy league.