Usually before the green crosses the red line expecially on the 1hr, price will already be at the other side of BB. A good ex. is the GBPUSD right now.The time is 11.43 and price is at 1.53837. Already at the other side of BB and the green line has not crossed the red yet. Not too comfortable with Heiken Ashi Carter, was told most traders don’t use it any more.
Maybe you should give us an idea as to the time you entered todays trade and the pair. So we can really know how the pros do it. Thanks
You are right about that. That’s one thing I don’t like about trading MA crosses. by the time the cross happens price has already moved a long way. That’s why I think it would be better to use price itself crossing an MA as a signal. Rather than one MA crossing another MA But you have to be alert and in front of the charts when it happens or you would miss it.
Agreed, getting the timing right can be a little tricky, and you end up losing a lot of the big movement…but still, a lot of the times, even if you miss the big move, you can turn it into a quick couple pips here and there. Don’t get too discouraged when you miss the big move. 
Hello Adeleke,
Glad to see this was on a demo and not real money and you’re correct these are both bad trades. You need to trade what you see and not what you wish to see. Any good Support and Resistance indicator would have shown you these trades were not good. It’s obvious you’re not trading the daily so the trend you’re looking for is on another timeframe. Always trade the trend of the timeframe your trading and look for the S&R’s of the upper timeframes as the eventual destination of the price. The only good the Daily trend will do you is if you’re planning on staying in the trade for the long haul if the trade goes bad. This only works on a “with the trend” trade and with no stoploss.
Your question on the London open is actually inappropriately worded. I’m not putting you down but it shows your lack of understanding on how the markets work. You want to trade with the flow of the market and someday you will understand that statement. Right now you’re trading to trade and trading with a wish and a prayer and this just doesn’t work.
Before you make a trade you should do your homework and have an idea where the price will go in the median term. You should be aware of the daily events on today’s calender and know exactly what time of day and exactly when the different markets time of opening and closing occur.
Your best trading times are during high volume so your best profit will be made after the major market opens. Just because the London market is open is not reason enough to make a trade. The trade must be obvious or don’t make it. Plan every trade and trade the plan. Your comments on your two trades could not be called a plan and would only be classified as a wish. This you will still have to learn but we all did the same thing when we were newbies so don’t dispair. Understand the price never makes up its mind as you stated and the closest thing would be consolidation where the buyers and sellers are more equal. If consolidation occurs you won’t make a lot of money as the highs and lows are not far enough apart. As a trader you will be looking for price movement and hope for a volitile market.
Happy demo trading,
Johnny
Hello Adeleke,
I don’t know about the red line green line thingie becuase I don’t use it but if you’re looking at a trade at 11:43 you really missed it as the best trading point. When the price on the hourly moved up on the 10:00 candle a move to a lower time frame such as the M15 then the M5 and then the M1 was in order. My indicators peaked at 11:03 at a value of 1.53911 with a K-D cross at 11:02. The BTC occurred at 13:00 at 1.53476 with a K-D cross at 13:00.
These were maximum high to low but were not hard to see and little would have been lost the way I trade. Set-up a Price Channel on the M1 and set the length to 135 and then see where you would make the trades.
The Heiken Ashi indicator can keep you in a trade over the usual little bumps in the road much like the way I use the K-D stoch values. If you put it on a M5 or a M1 then it actually doesn’t work too bad and is just as good as the red and green line thingie although Robert may disagree.
Trade well and prosper,
Johnny
hmm… yeah might try this
I am surprised you are just trying different indicators over indicators.If you follow Robert system in the first page of this thread and just add Jonhny LRC to your charts,you are good to go.If you want to add butter to the bread,read the naked PA direction and you will be better off.Only that you need to be contented with 20 to 30 pips in the first few months.I have been trading these stuffs and never lost a single trade.Just have it at the back of your mind that success takes time.
Good luck,
Headmaster.
Hi all, These are my trade for Friday. Once again am using RCarter’s new system. Wld really appreciate if you could take a look at it and tell me once again what i’ve done wrong, what i’ve done right(if any) and how i can improve.
1- AUDUSD. Sold at 0.92004 took profit at 0.91725. The reason for this trade was that PA was in a sell region (green line has crossed red downwards the day b4). Waited for price to rise abit and when it started to decend again, i joined the ride. No explanation for the exit, just PT.Time was 14.15(platform time)
2- GBPCHF. Sold at1.65342 took profit at 1.65163 same reason as above. However, if i was using Heiken ashi like RCarter adviced, might have stayed in the trade longer. Time was 14.07
3- GBPUSD, Sold at 1.53433 exited at 1.53354. Same reason as above but i think this trade was a big mistake.(Hate this pair any way) took profit as soon as possible.
I checked the daily as you instructed JohnnyBS but i really don’t think Carter’s system involves the daily. Just 1hr and 15min. But took note of stochastic.
Gonna include support and resistance indicators. Can smone pls post any good one?
Thanks in advance and have a nice wkend.
Cheers
ADE
ADELEKE,
Try the attached Price Channel indicator. It works very well as does the Bollinger Bands and Linear Regression Channels. I use all three.
Your statement on the Daily doesn’t hold any water. Every trader on every method or system needs to watch the Daily. If the Daily is about to hit a major resistance level you wouldn’t want to go long on the lower time frames.
Happy trading,
Johnny
JBS_Price_Channel.zip (1020 Bytes)
Thanks JohnnyBS;)
Kudos to HelloGoodBye4201…
I ran his EA on the 15m as mentioned, as well as being the g/u setup.
It entered me at 1.33259 (alpari us mt4), at 11:39 GMT, april 27.
Currently its at 1.32126 at 5:30 GMT april 28th.
112.4 pips +.
So…
HelloGoodBye bottom was at 1.31428 (approx).
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When do you think this trade/ea is/if gonna close?
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This set up seems to be geared for the 1hr strategy or even 1 day…Heh…Did mean you set up a scalping EA?
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Is the current positive rating a fluke on 15m? Or something else?
Thanks
Red
'Eh i forgot to ask.
Brokers, been a ***** of a time finding one with a good rep.
I really want UK broker to hedge/leverage/avoid FIFO, and such.
FXCM UK, but the reviews on it are SOOOO horrible, I dunno.
Alpari UK, does not accept US Citizens, even a joint in Australia wont accept US peeps.
This sucks a bit.
What/who is everyone using only UK and abroad wise please, that may accept US citizens.
And the biggie, any problems ie:withdrawls, or rejection of trades months after completion…etc etc.
Since this thread is active, and i’ve just finished reading it, over several weeks, makes me think you peeps have definately made enough transactions to define your broker’s strengths enough to recommend, or even not recommend.
Thank you for your replies.
Red
Ok well, posting seems a going on for me here.
Hahah…
Hmm…My mistake.
The EA was placed on the Eur/USD…
HAHAHAH…
Ooops.
Well same questions apply i guess.
Red
I may be mistaken but I think R.Carter uses FXCM ? I haven’t heard anything bad about them myself but haven’t looked into it yet.
I think something is wrong with the closing of trades, but it shud close the trade whenever the 2 main EAs cross but it is supposed to whenever the one crosses over the 40MAs ill have to look into it
R Carter, how can this GBP/USD strategy be modified for other pairs?
Hi HelloGoodbuy4201,
I am using your EA on demo without issue on the 15m. Since my broker (Alpari US) is 5 decimal I have adjusted the take profit, slippage and stop loss by adding an additional zero. I have also dropped the take profit to only 10 pips on the 15m so the trade is consistently being taken sooner. I don’t see any problems with your EA so far. Good job! By the way, what online EA creator did you use?
Thanks, still need to fix the crosses though, I’ve noticed it takes some wrong trades. I used FOREX ROBOT BUILDER - Free ea generator to build it, it doesnt do everything but for simple EAs it works
how are you trading with HA?
Lol, sounds like someone is enjoying retirement.