Ooooh. Thanks for explaining it to me tony! I didn’t check the weekly timeframe so I didn’t know about it. But I’ll take note of these points, and hopefully, I could snatch pips along those areas! Maybe it’s because I’m following a system that I don’t usually get to pay attention to other details apart from the ones indicated in the system. Still, thanks again for patiently explaining ittt! I really appreciate it.
Can I ask a dumb question. Am attempting to set the RSI in my ( IG) chart settings. The instruction by the original poster says, "RSI (10) applied to the median price (HL/2).
My settings window has the following box headings.
Now what boxes do I fill and with what numbers? I’m confused.
Okay! Good afternoon everyone. It’s time for me to pick myself up and get back to trading, so that hopefully, I’d be confident enough to go live soon. Too much quiet isn’t doing anything good for me right now so I guess I just have to keep myself busy.
BUT if anything happens to me (hopefully not in the near future), I just wanna say you guys are amazing and I love you all.
Alrightyyy! Back to trading.
GBPUSD’s still looking a bit unstable. I really thought price will start to go beyond my 50 RSI. I’m still thinking if I could still get in on this trade, or do I have to wait for the market to move the other direction. I’ll update you guys!
Oh my. I’m not sure I understand what’s shown in your settings windows. Huhu. Which broker are you using? I’m only familiar with the Oanda trading platform for now so…
Good afternoon guys. How are you all doing? I hope today becomes another good day for all of us.
Anyway, looking at my charts now, it looks like EURUSD is in a downward trend. But, referring to my RSI, it looks like it’s likely that price will move the other way. I guess that’s what I should be closely waiting for! I’ll keep an eye on this pair for now. I’ll check out GBPUSD in a bit and let you know if I plan to open a trade for that pair.
To the readers of my thread, I’m so sorry if I seem to be all over the place right now. I’ve been through a tough week so I’m still trying to pick up the pieces. I didn’t even touch my computer for a good week so I’m still trying to get my momentum back. I hope you guys understand. I’ll try my best!
Helloooo everyoooone! Back to regular programming!
So, I opened a long position for GBP when my RSI went above 50 RSI. I’m thinking whether or not I jumped in too early. But, I guess I’ll just wait and see for now. It’s also been a while since I actually opened a trade.
As for my EURUSD, generally, it’s been in a downtrend but I’m hoping price starts to move in the other direction. Hmm. Still very unpredictable at this point though. Huhu.
Good morning everyoooone! How are you all doing?
I think I’ve mentioned that I really wanna go live soon so I’ve been thinking about how I’d go about that. I’ve received comments and messages from you guys and I really really appreciate it! What I noticed was that most of you think that the system is still incomplete and might not be the best one to use when I finally decide to go live. Now, I’m a bit confused.
Although I think that the system has provided me with promising results, it hasn’t been as consistent as I would’ve wanted. I’ve tried tweaking it to match my trading, but I’m not sure if I just made it worse.
For now, I have decided to try out other trading strategies to see how these fair compared to this system. It’s been super duper fun trying this out. I felt like a legit trader updating you guys! Haha. But I guess there’s no harm in trying out other things before really sitting down and choosing a strategy I’d use for live trading. What do you guys think?
Actually, I plan to create another thread about this. I hope you guys don’t find me annoying because I’m all over the place. For me, it’s such a big decision to try out another strategy and I had to really think this through. But I would really really love and appreciate your guidance!
One of the changes I plan to make is that I plan to trade on the DAILY time frame instead of the HOURLY. I feel like this will suit my schedule and lifestyle better? Also, I try to go simple and use the 200 and 50 MAs. I’m still trying to learn more about it, but I’ve already tried opening a trade for it. Is this a stupid idea?
dont rush into going LIVE if you know deep down you’re not ready. I still haven’t gone LIVE as yet either.
no it is not a stupid idea at all. your final strategy must suit your personality, risk tolerance and time zone. You are in the same time zone as me so my strategies rely on me placing the sl and tp in advance because the trade usually plays out overnight while I am sleeping. this also means I cant fiddle with the trade. daily time frames are much easier and less time consuming which suits me because i work full-time. it can take years before you truly learn to understand what the market is doing and of course it goes through different phases itself. for those trading trends there has been very little on the longer timeframes this year but that will change
Thanks @justshell. I guess I’m just super frustrated cause I had high hopes for this year. I really wanted to go live soon and with me changing my system and all, I feel like I’m back to zero.
Thank you soooo much for thinking that Tony. Like what I said to justshell, I just feel like I’m back to the beginning and it feels so frustrating. I’m not even sure which other system to try next. Could you tell me more about your strategy? Huhuhu. So sorry for asking this! But it’s also okay if you prefer to keep it private.
there is no secret. If you call up the circa 2007 threads on technical templates, alternative technical templates and technical templates 2 you can see how Tess and her crew taught us to trade. I have hardly changed anything at all over the years although am less influenced by the stochastic hook. Later they changed their views on S/R and use the round numbers of 00 and 50 as more important. You will see for yourself how commonly they line up to classic S/R but are easier to define. There is a lot of material to work through. Most of my posts reside in those threads. People like catcher still post occasionally on Bpips
Thank you soooo much tony! I don’t think I’ve seen that thread, but I’ll definitely be looking for it now! I hope I could learn from it, and if I’m lucky, I might be able to catch some of them here. Super thanks again tonyyyy!
The beginner's guide to FX trading