Hello all,
I said I was gonna post for help and here I am. I have been trading for a while in stocks and options, and I am good at it. However the same strategies I used there, have not helped me here.
I live and die by the 1 minute, 5 minute, and 15 minute charts. But I seem to get faked out more than not, and I believe it is because I am using strategies based for longer term trading.
To augment my account I am using an autotrader that trades for me via preset systems. It has done decent so far, and kept me afloat.
Does anyone have any suggestions? Or how about some indicator settings that are good for daytrading?
I trade all the major pairs, but I mostly focus on EUR/USD.
All feedback is appreciated, and I thank you in advance!!!
That looks like MT4. Does it set the levels automatically, or did you build them? If you built them, what is the criterea for starting your Fib? Or am I looking too deep into this?
My broker has me using Meta Trader 3, for supporting my autotrading client.
The problem is I don’t know how to use the darn thing. I am doing screenshots of the charts then putting the indicators on the screenshot. Right now I have figured out how to add the MACD, RSI, Stochastics, Bollinger bands, and moving averages. lines, I have to copy paste… Very annoying
I use TradeStation and eSignal for stocks and Forex.
Yes, this indicator does it all. I just wrote TRO_SR_RR this week and so far, everyone who has used it, has been making pips.
The number of bars looked at and offset are inputs. Default is 21 bars starting with Bar(1). Bar(0) is the current bar. The indicator then plots the support and resistance based on highest high and lowest low for the period. And then computes the fibs off that.
The triggers are simply the pivot of the candle that made the highest high or lowest low, whichever is most recent. Risk, Reward is then calculated.
I’ve done such a thing and it’s tossed me into an abyss of various forums making mention of the same instructions, however, I’m not able to find such a spot.
LOL, no not at all. They are not indicators to buy or sell as one might use, they are references when I do buy or sell. Don’t get me wrong I have seen all of these look the same direction I was, only to be rear ended by the market. Tight stops keep alive in those situations. But again, these were for stocks and the same criteria i used for stocks I tried using here… Ya didn’t work, But I did stay at a holiday inn express last night!!
Stocks was easy, if its trading with in its average volitility, then charts generally look the right way, if not, go find the news thats driving it. Forex, is not like that. Its always volitle!!!
I don’t want to get on the wrong side of the Forum Admins.
Plus there are some people who have nothing better to do than to go out of their way to tarnish my reputation.
I will post the Original TRO DYNAMIC SUPPORT RESISTANCE FIBS indicator here so you can have it FREE.
TRO DYNAMIC SUPPORT RESISTANCE FIBS is NOT some “bait and switch” or “lessor” version. In fact, others have coded TRO DYNAMIC SUPPORT RESISTANCE FIBS into languages that I don’t code in.
Already I have been accused of soliciting donations by some disgruntled traders here on BabyPips. You would not believe the B.S. I have had to endure.
That is unfortunate,
I saw some of the comments posted on your account and was appalled. But I understand you completley. I have the same sort problem if you will. You see I am in Iraq, and though I get payed nicely for what I do, I WOULD still do it if I got payed the same as when I was a soldier. People judge me because I am a contractor, except those I have come out here to protect and bring home.
The problem with helping is, when you threaten others with your help(IE they fear you are giving someone else an unfair advantage or are cutting into their profits), or encounter someone who is jealous of you giving that help (they can’t or won’t do it, or didn’t think of it first) is that the simple fact you are lending a helping hand gets thrown out the window.
I endure it because lives are at stake, you endure it because you enjoy giving back. Let those who don’t understand fend for themselves.
I thank you from the bottom of my heart, because you have already helped me more than you know, and it didn’t cost me a pip.<–hehe forex humor, get it.
Just a advice to day trader . Try to take profit on 35 to 45 pips . This amout of taking profit level should be very easy to obtain when trade any currency . I have no much problem to taking profit on this level and then I stick on this level. The stop loss should be ratio 2 :1 , and you can adjust the stop loss level . this men s that when u taking profit 40 pips and the 20 pips should be your stop loss. This is back tasted by me for several month using the demo account . This strategy work well on every currency , i , m referring to the pips movement . You can chk and read about pips movement for every day basis from the baby pips school section. Most of the currency the high movement of the pips below 120 pips . So what u need to do now is just to put in level 40 pips To 50pips. I,m sure 35/40 pips the best level to take profit on every single day. Don’t so much greed then u will lost your trade . Unless u can make a very good analysis on the Chart /use multi time time frame for the analysis. If you want to make a single trade wioth 80 pips profit , the better way is to create 2 order with 2 different currency whereby you can profit of 80 pips.
if you want just to take profit 80 to 100 pis on every single trade, that much rick, thaton the good idea to take profit if the trade goes agaist you.
