The finest in trend trading

[B]To Didilut :[/B]

Got your message, thank you indeed.
I cannot send you private messages because you do not yet have 50 posts.

The girl, who’s name is Grace, is in Malaga at present.
She is in a humanitarian refugee camp.

She is being thrown out of there because there are new people coming.

She plans to go to Valencia to go fruit picking.
She needs to give me an address so that I can contact her properly.

Sorry this is off topic - I may have to continue this in the MELTING POT.

[B]Neither, Africa.[/B]

I think bringing up the issue like as you did is a good thing:cool: there could someone among the followers of your thread who can do just what is needful or provide appropriate information.

I think enduring help can be provided through organizations set up for just such causes. As a individual, you will expend more resources trying to reach out to people in need personally than if you partner with an organization engaged in such activities. Many commonly call this charitable givings. You accomplish more usually.

Organizations are better suited:
• They are conversant with the issues involved
• They would have needed professionals
• More than the provision of money is normally required to have lasting impact
Let’s take an example the organization; Doctors without Borders (Médecins Sans Frontières), a heart or brain surgeon might actually be more effective and efficient if he gave money to the organization than if he volunteered his time to go work in a rural community where the basic medical needs would be what is required (as would have been needed in Haiti recently. sorry to use this example)

From your previous threads, there were references to your personal charitable work. I would liken you to the heart/brain surgeon whose earning capacity is high, could do more by if you partner with organization[s] and therefore by your partnership, you essentially pay others to do more (rendering the same help and providing employment for others in the process). Please, don’t get me wrong here. There can be the pull in your heart to be personally involved and the satisfaction that can bring. As a fellow Christian, we know we have an obligation to preach the gospel (Matt. 28:19-20, Mark 16: 15-16) I can only preach to so many as as an individual ( and I do this as way of life) but I can do more if I partner with a ministry involved in this, this way I can reach more people with the message of hope and love. By the way, the ministry I partner with is come recently on air on some local television stations in parts of Australia and should continue to increase in coverage; it’s Believers Loveworld aka Christ Embassy Ministry.

I didn’t mean to lecture you. Just expressed my thoughts because of the issue you raised. Problems gravitate towards the solution. The teachings on trading I have received freely from you so far I consider priceless, I am grateful. I say this with confidence, your efforts have not been in vain. You are in Australia and across the world here, I have knelt down to thank God for you. I will also by God’s grace bless many. It’s a beautiful world. I pray you are around and strong for a LONG while:D

Only 31 more posts, I guess I’ll have to find a new thread. I’m happy to help however I can, I won’t be leaving Ireland for another 4 or 5 weeks anyways so theres lots of time for me to get up to the 50. I am definitely going though, and will definitely be in Spain. I have loads of extra time on this trip so I’m more than happy to aid in whatever way I can. If there’s anything pressing I can throw up one of my old email addresses but I generally try not to put them out on public forums.

Absolutely my objective too - I’d like to be successful and that drives me a lot, but I’d like the money from that to primarily go to help others in need in this world. :slight_smile:

For newer members I’d encourage you to add any and all chat programs you may have installed and use regularly to your Babypips forum profile. That will display these programs as small icons in the upper right of each of your posts (check mine there). Even if you are new, you can still stay in contact with each other even if you don’t yet have enough posts to send PMs. Just click on said icons and add forum pals to your appropriate chat program.

Thank you MerchantPrince for the posted suggestion for newcomers. I would have never known. Even went & got me an Avitar!

Tymen, Thank you for sharing with us Graces story. We are all gratfull for the work you do here and I am sure that most support and applaud your efforts in this other area too. Although practical assistance is not a possibility for most of us, the combined thoughts, hearts and minds of many may help on other levels. Please tell Grace that many of us are praying for her and that she is not alone. You have highlited that there maybe some power in an international community such as this and I hope that we can find ways to use this in the future

best wishes to you and Grace

[B]Merchantprince [/B]has all of the icons!! :smiley: :smiley:

Thank you for your wonderful post. :slight_smile: :slight_smile:

I am sure the above is absolutely correct.
I have now referred the girl onto certain organizations for further help.
It is up to her, of course to seek that help.

[B]I am truely amazed at the amount of advice and assistance that has been given to me by various readers.
I thank you all for your generosity!! :slight_smile:
I am doing my best to impliment the advice given.[/B]

I think I shall continue with this in the MELTING POT.
It is only a matter of time before the Admin has a gripe at me and asks me to go back on topic. :o

[B]TOPIC 13
TRADING WITHOUT INDICATORS

PART 1 - INTRODUCTION[/B]

Rather than wait until I have moved house, I thought that I would start the ball rolling with the [B]Introduction[/B].

Here we will look at blank charts and see how to set up support and resistance lines. (SR lines).

These lines touch [U]turning points[/U] in the price action and therefore point to the possibilty of future price action [U]turning at these points also[/U].
We, therefore extend these lines into the future. :smiley:

My first example will be a simple daily chart of AUD/JPY with 2 SR lines.

NEXT POST

Here we have a DAILY chart of AUD/JPY >>>

Note - no indicators!! :smiley: :smiley:

How do we draw these lines…?

  1. Demagnify your chart so that a great many candles are visible.

  2. Click on the draw horizontal line facility in your charting program (GFT is especially good in this respect).

  3. Place a line anywhere on the chart. (It should go right across the chart).

  4. Now scroll your line up and down so as to touch as many points as possible.
    This is a very subjective exercise!! :stuck_out_tongue:

It is best if the price action just touches your line but…

…you can cut thro the wicks
…try not to clip too much off the bodies.

…in the chart above I have drawn 2 SR lines and the points of touch/cut are numbered.

In the previous chart I drew the lines using Microsoft Paint.

I now draw them using the GFT horizontal line charting facility.

Here we have a DAILY chart of the Cable >>>

I have improved the layout!! :slight_smile:
Each line has a reference color and reference numbers.
This is to prevent confusion.

The numbers for each line show where the price action touches.

In order to try to get as many touches as possible, I have sometimes cut a little thro the wicks.
I have tried to avoid chopping thro the candle bodies.

The next one is a 4 hour chart of EUR/USD >>>

The same code again - numbers color referenced to stop confusion.

We again place a line on the chart, scroll it, and try to get as many touches and close touches as we can.

At least 3 are required in every line!!

We need to cut thro the wicks at times but try hard not to chop thro the candle bodies.
We then get a balance at what we think is the best line.

Our best line is somewhat subjective but this is not critical. :slight_smile: :slight_smile:

Now a 1 hour chart of USD/JPY >>>

Here I have really knocked down the magnification so that the candles all appear black.
I can then get as many touch points as possible.

Again the same rules for drawing the lines apply.

And, finally a 20 minute chart of the Swissy >>>

4 SR lines appear here - colour coded.

By scrolling your line up and down, you try to get as many touch points as possible.

hi tymen… as you know if you ask 10 persons to drawn SR lines in the same chart you will get 10 different charts with diferent SR.

i´ve once posted in a thread that use zigzag indicator or gannzigzag is a good way to turn SR lines less subjective.

what do you think?

Hey Guys
I am sure we all have many opinions on this subject. How about we let Tymen post his ideas without to much interuption ? there will be plenty of time to review and question whilst Tymen is moving house

How many lines to we draw and which ones are important? :confused:

Well, we will be using only 2 of the SR lines -

…the one from which the price action just came,
…and the one to which the price action is just going to.

See the below chart >>>

This chart is the a copy of the chart in the previous post.
Only here we have 2 of the SR lines - the others were removed.

On the right hand edge, you can see the latest price action - it is in between the 2 SR lines.

Let us magnify this chart greatly .

NEXT POST

Thank you for your guiding comments here [B]Kockneerebel [/B]!! :slight_smile: :slight_smile:

Your are an experienced trader and I will really need you to be in charge here when I am away!! :slight_smile: :slight_smile:
You have a very clear understanding of what is going on here!!

I agree with this but it is not going to matter much at all as we progress.

This thread will take an unexpected turn away from SR lines.

Lets look at the magnified chart >>>

The price action came from the grey SR line and is going to the pink SR line.
We can expect something to happen when the price action actually reaches the pink SR line.

It may pause, go straight thro, or reverse and go up again.
At this stage we have no idea.
It is not important to us what the price action will do at this point.

It is just a marker for us at this stage.

What we note is that the price action is going down, that is, going short.

What we are going to do, is to find a very powerful entry method for trading long when the time comes. :smiley: :smiley: :slight_smile: