Charts please
Nice trade management! Good job.
I really hope this works out for you and if price can bust above the resistance level and we have discussed in the previous post and close, then it will have a huge chance of moving higher, but I am wondering how far you are prepared to let price move lower before you actually cut the trade and move on? The reason I ask is because you are still in this trade and yet price has clearly moved well beyond the recent lows.
Safe trading,
Johnathon
Just open up your pepper MT4 and go into “file” open new account and then open a fresh demo account.
They make demos 30 days like most brokers to get you to sign up to a live account. Just keep rolling over your new demo account every 30 days.
I took and gained a counter-trend trade. I embraced the risk but with deep examination. Any opinions?
On AUD / USD Weekly spotted an uptrend and after a pullback a pin bar was formed rejecting RN. I placed a buy pending order on it avoiding the indecision area on D1 timeframe. On daily a nice pinbar was formed too. I’m definitely trading on weekly chart’s pinbar I’m not switiching timeframes. I just took other TF into consideration before entering the trade.
The trade is with the trend.
The pinbar was closed exactly at the last 1/3 part of the candle -I measured it :-). Pinbar was closed within the previous candle. Pinbar is sticking out and protruding.
On daily TF consideration
Unless I have slipped through the cracks, I’ve been running the same demo with pepperstone for the last 3 months. I received an email around the 30 day mark that it was ending but it never did.
[QUOTE=Yumei;626001]when we trade on long time frame like daily, the bar containt PA signal ussualy have around 50 to 100 pips some time over 200 pips. so add Bid/ask spreads, they do not affect too much. with the bar signal with small pips, its better not to trade them. we follow the false break with big momentum in this thread.[/QUOTE]
Hey Yumei and others who commented. I am using NY close. And sometimes the spread on NY close can rise up to 10-15, r even 20 pips. That would cause a major alternation of a 50 pip daily candle. Here’s a concrete example I found while browsing yesterday’s close candles.
AUD/NZD Daily.
On Ask price we see a really nice PB from a midway support zone and Fib zone. Potentially a really good buy.
While if we look at the Bid price it distorts a PB quite a bit, creating something of a spinning top. I wouldn’t buy on this candle. If I see such a difference I usually just ignore the setup, but I wanted to hear your opinions on this.
Hope this clarified my question.
I can see how that could cause some confusion. Seems I was once with a broker where you could see both like that. Most if not all MT4 platforms, and most other brokers use bid price charts when looking at a price bar or candle. I would stick with the bid price charts.
Thanks for the reply Johnathon and also craigfx,I had a pepperstone account some time ago and never had to do that, so not sure really, I don’t know if others have had the same problem. Even deleting the program then reinstalling it still comes back as before with all my old settings and unable to reconnect, This is the reply from pepperston help desk "The demo will expire after 30 days. If you have a live account, you can request to have a permanent demo by sending your demo account details to <[email protected]>"bit of a shame really as I like pepperston for the NY close. When I try to do what you suggested Johnathon I just get the same rejection. Anyway I expect I’ll sort it, but thanks anyway again for the reply’s
I’ve now sorted out my pepperstone demo account after an email from a lovely lady at pepperstone who gave me this link to their site, which may help others having the same problem apologies to Johnathon if we.re not supposed to post links (not sure about that). https://pepperstone.com/support/creating-a-demo-account-on-pepperstone-demo02
Looks real good to me.
i took it already.
I didn’t know that. I use FXCM’s marketscope and they have both options there. I kinda assumed other platforms offer that as well.
Yeah, now I remember that was where I saw it, it’s been many years since I was with them.
Nice one! They have obviously only (mar this year) recently changed their settings to stop traders doing what I told you and just continually rolling over their demo’s for years on end because obviously they want people to sign up to real accounts.
You will find the majority of brokers with MT4 have an in-built rule that the MT4 only lasts 30 days. But thanks for posting the link as I will keep this for future reference now.
Johnathon
