TALOND
Hi Mike, just posted and thought instead of saying I entered late, saying I entered a TALOND. :D:D
SanMiguel
Nothing that complicted. Just looked back on the 1h chart for resistance. I’m pretty sure it will break 09/09 low. TP1 10/09 low. TP2 14/09 low.
Bounced off the 13MA so I’ll cut it short even though it may go further as it’s getting towards the quieter hours.
+44 pips - nice. 
ha! now I have something named after me I’m famous !
SanMiguel
I’m going to hang in there for TP2. Currently + 25. If it gets to break even I’ll bail out. Its only pips right. 
A big hello to everyone
I got tired of all the bickering and name calling on FF and thought i would try here.
I spotted this thread this weekend any I really lick what i see everyone gets along and works together.
I started learning about Forex I april and took the baybypips school then demo ed for two months with just a10/20 sma and macd .
I did Okay was 66% profits.
But I was entering very late and geting scared out early.
So I started trying one system after another but could not follow the rules (to many for them) and of course I became be big loser fast .
after losing 14 in a roll I decided to just watch the price moving up and down and try to get in sync with it.
a couple months ago I started using BB’s and now feel neaked without them and MA’s on my chart.
Then I came accross this thread and I felt like I found a home.
So I’ll be watching you and if you don’t mind asking questions from time to time.
John from Michgan
Welcome John. getting in late now has a name, you, like me suffer from Talonditis a tendency to enter a trade just before it turns and goes the other way. LOL
Here in Georgia we call it being a day late and a dollar short
Thanks TalonD
I thought I was the only one that did that
maybe there is hope for me after all
I understand the ma crosses but on the BB spike I have a question.
This morning on the M15 chart at 8:30 on GBP-USD Do you count the Doji as a Spike and a color change or do you wait for the next candle to change color?
John
Ok I’ve tweaked some and here’s my take on the MA’s. Those that are familiar with MA can delete the ma’s I have suggested as they see fit. But if your new to this type of trading, I’d stick with something like this until your comfortable.
Until someone tells me different, I suggest LWMA ([B]Linear Weighted Moving Averages[/B]) they are one of the quickest. Set to 3 (green), 6,9 and 14 (red) on 5m, 15m and 1h.
The three red ma’s are where price is heading. The green ma is to be used with caution as its tracking price closely. As long as green is on the outer(upper side) of the reds on an up its all good. Reverse on a down. When it breaks through the reds its a good time to close an already open trade and possibly enter a reverse trade.
For the highest probality trades use a bollinger and ma. I have a 2 std dev bollinger (20 period) as its the one most traders use and price regularly breaks it. If the candle wicks outside the bollinger look for ma to confirm a change of direction in price. I know some use a 13 or 10 period bollinger but this tracks price closely and price therefore rarely steps outside the bollinger.
Let me know your thoughts guys.
Only other thing I can think of right now is keep the pattern of candlesticks as tight as you can on the charts whilst still being able to see individual candles and their wicks. It gives a much more effective indication of where ma is really going,
my default candle color is green (metatrater) a green MA is hard to see so I change my candles light blue
Sorry Mike… head up my ass again! My candles are blue up and grey down, so green and red are ok for my chart. Feel free to adjust your colours accordingly. I’m generous like that… ever noticed.
Just entered a short on EUR/USD on this set up.
may not do any trading this evening, getting a little shy of the overnight period, going out to dinner too, won’t be back till late.
Can you explain why you took this trade
was it just to test your MA’s?
The BB’s are contracting and the mid Band is going up steeply
I’m still trying to learn but I thought this was a No-No.
John:confused:
I can see going short there the MAs are crossing down the candles are headed down. Even though the bb is still pointed up it is basically a 20 period simple moving average and it will follow prices down. The only thing is that we are going into the Asian period where things slow way down. You can make pips during this time R.Carter did last night and I made a few and this is the time of day I’m off so I try. This time of night it seems likely to get a lot of horrizontal movement or no strong trends. On the other hand… you just never know.
John
I see where your coming from.
At work I trade exclusively the cable (GBP/USD) and then only during the London open - New York close. But as i’m in front of the monitors at home and ‘she that must be obeyed’ is asleep, i’ll take a punt.
The cable is mid range re support and resistance. But the Euro has climbed. I think on balance a better trade. The (in my case) three red slower ma’s are firmly pointing down.
Were into slow time right now. But I’ll hang in there and see what develops.
You must be a fan of ‘Rumpole of the Bailey’ !
TALOND
Didn’t know you got it States side… now were really showing our age! Trained at a ‘Red Brick’ (Ivy league) uni/ college to be a Barristor in a previous life. Boston Legal is better… shame its finished. :mad:
Looks like weve got a down channel forming tonight… bugger, there goes my sleep tonight again.