Merry Christmas to all of you and I hope to see everybody back in good heaths in the NEW YEAR
Jens
Does anybody have an up to date consolidated version of the threadās trading method they can send me?
Hi Josefx150,
Nice to see you, please go through the thread you will get valuable information.
It is already a strong and compact method, the way Nikita explained is very clear and easy. It will take some time to read the whole thread but I think first 40 pages is what you need to focus more.
If you donāt understand anything please ask, hopefully you will get an answer.
Hi TC,
As you know this method is very simple when you really follow it accordingly.
When you open a position just check all the elements is present or not, if something is missing wait for it to happen.
Making money on trading is not easy it takes lots of different things to become consistent.
We can get few good trades here and there but only things matter is consistency, are we able to do it or not.
We need to believe one thing about the market is very random, we donāt know what will happen next.
But according to the senior traders there is some pattern on the market always show up on the chart.
If we want to make money on the market we need to follow our plan so when that type of pattern start to unfold we can be with the market to get some pips and just keep doing it.
The reason I really like this method because it is very simple to understand which way I will open a position just by looking at the weekly TF.
So trend determination is merely seeing if the previous week was up or down and assume the current week will be the same?
Hi Josefx150,
We can not predict the trend of a pair by looking at one week TF it requires several weeks and months to see a trend.
We can only predict the Bias for present week by looking at the previous week TF.
Like if today is Monday a new week so we will look at last week as our bias to go by for present week trade.
But to open a position we need good understanding of this method.
Nice trade austine4life, how many trade you open per week.
This is a very nice and old thread and it has a huge amount of valuable stuff to be learned by a newbie trader and also to gain a lot of special knowledge by a veteran trader as well.
Ok sharebazar,
A little clarification hereā¦Iām looking at the Euro, last week weekly was down so all this week bias will be down correct? And Friday was a sell day so Monday will be a sell day right? So when the market opens in a few hours I will just drop down to a 1 hour chart and start looking for reversal candlesticks, mainly a pin or tweezers to go short right?
Iāve been making my way through the thread from the start and disregarding the correlation aspects since they are not used anymore, the other big change I am seeing, or have come across, is the bias. Itās now being taken from the weekly candles instead of the daily. Or are we using both weekly and daily in tandem? Like if the week was a sell, then we will wait for a daily sell candle to appear, then the following day we can look for a pin on the 1 hour chartā¦or is bias taken only from weekly for which we assume the previous weekās direction, go to the 1 hour chart to look for a pinā¦?
And as far as TP is concerned, trades opened using signals from the 1 hour chart will be held for 60-100 pips roughly, depending on where s&r level is or where the bottom of the wave appears to be rounding to come back up (for a sell)?
My 2cents Joesfx150, there is allot of noise at the opening of the week , yes the bias is down.
Hi Josefx150,
Agree with tonyro44, donāt want to open position this week.
Between red and black line can be good area to go short with 40 pips SL.
But today and tomorrow can be a bullish close in terms of daily candle.
If price move to the area just to see the 1HR and 4 HR candle for signal.
Happy New Year everyone. Hoping for a great year with pip mining.
Took the whole month of December off (No internet) and came home couple of days back. Had a great time with my family and didnāt miss checking emails or trading. Sometimes you need to take time off to enjoy life.
Now I will need to go back and start studying the market.
Hi Sharebazar,
I am back behind my computer and want to thank you for your comment on 25-12-2014
The example you show here in this post is very clear how to look at the charts and to make analyses.
On 22-12 I closed my computer with a pending order for AUDJPY It was executed on 29-12-2014 and closed with 100+ pips on 5-12-2015. A good start of the New Year.
I think this year I have to start live trading and experience the emotional part of trading as well. I need some advice about a good broker and on how big to start the account size.
A happy New Year to all of you and a great year for trading.
TC
Hi guys, newbie here. I wanted to drop by and thank everyone that has contributed to this thread, its really helping me. I am slowly getting through the thread, but when i tried to click on the attachments for the charts I am getting this message āInvalid Attachment specified. If you followed a valid link, please notify the administratorā. Does anybody know how I can fix this? thanks!
Hello guys , new to this thread, Iāve read a few times the first which explain how the methods, but seems like I donāt really understand it. I wonder if there was a thread before this thread?
There are some that really need to make sure that I understand this method correctly.
First is when we find a reversal signal, we have to wait for a reversal confirmation candle to complete? So if I have a pin bar on Daily TF at swing high and I want to go short then I have to wait another bearish candle to form so then I can place my order on the next day (day after tomorrow)?
And for point āIf yesterday was a buy/sell, then today is a buy/sellā, is it that easy? So if we have previous candle on bearish on Daily TF, so without further analysis our position today is sell?
Lastly, on point āeasiest way to trade when direction is known is to enter when price crosses the opening of D TF candle. Hold for about 40 pips.ā. What is that mean?
Hi TC,
Congratulations for the 100+ pips and good luck for the live account. I think you can choose from FXCM or OANDA. I am with FXCM. But you can check with babypips broker list.
Start with any amount you are comfortable with.
Best way to start with micro lot then increase your lots gradually as you increase your account.
Hi gkuang2,
Welcome to the thread. I have sent an email to babypips support regarding this issue. Donāt know when it will get fixed.
Now 70% attachments is working.
I think Nikitaās attachments are working. Just go through those one, which is the most important ones.
Hi roberthadiputra,
Welcome to the thread, please go through at least 40-50 pages of the thread you will get most of your answer.
Nikita already answered all those questions very professional way.
If you still donāt understand please ask, hopefully someone will answer your question.
Can someone walk me through this trade to see if I am doing it right?
SO this is what I see at the moment on my chart for EUR/USD D TF.
So the market is on a downtrend/bias and I see a spinning top candle. Which i believe means a trend reversal. So according to the rules I have to wait another day for a confirmation candle to form. Once that does form, I will look at the 1H TF to place my entry. Is this correct so far? This is as far as I got in terms of applying the method.
PLease comment and let me know what I am doing wrong. Thanks a bunch!