rui…please post here the trades you`ll take … i cant get into the chat room. :(((
today isn´t a action day so your not missing nothing spcial. try to talk with the admnins to see what it´s hapnning
I use a MT4 demo from FX-PRO to do my charting. I would suggest you do something similar and copy exactly what the successful people(Rui:D) are doing. once you get a good understanding of how a system works you can try to migrate it to your brokers charting package.
I have two questions:
1.) Rui, it’s obvious from chatting with you that many times a pair is outside the daily MAs and you don’t trade them. I would like to know about identifying times when one should NOT drop down to the 5m chart and look for entries. Also please indicate any patterns on the 5m chart that should be a strong sign to stay out.
2.) Shr1k, when you put your arrow on the daily chart so you can see the overall direction of the pair upon switching to lower TFs, which do you use to indicate this direction: the direction of the middle bollinger or the direction of any MAs you might be using other than the 2-period ones for MMTT?
Shr1k, when you put your arrow on the daily chart so you can see the overall direction of the pair upon switching to lower TFs, which do you use to indicate this direction: the direction of the middle bollinger or the direction of any MAs you might be using other than the 2-period ones for MMTT?
The arrow I put on my chart only tells me what direction a MMTT trade would be in. That is back to the middle of the 2MA channel.
USD/CAD looks like the only pair I watch that’s in a position to present a trade right now.
Oh, I thought you were using the arrow to remind yourself not to trade against the overall trend on the Daily. I thought that might be an important consideration, to trade back inside the daily MAs - but only in the overall direction of the Daily chart.
Evidently, I’m learning that, because my broker provides a daily candle for Sunday, my chart is significantly different from everyone elses and I may have to avoid trading MMTT on Mondays as my MA values are all screwed up.
ok. being at the chat all day. a lot of questions only 1 trade… slow day
i´ll aswer some questions posted in the chat here,
1- is normal have diffrent trades from broker to broker… above 1h TF diferent brokers have different candles because they use diffrent timezones.
on monday that will be worst because some brokers have sunday candle some don´t… sunday candle mess with the dailly channel because is very small… if you can avoid it if you can´t learn how to use it.
2-higher lows and lower highs are a very good reversal indicator but it tooks some time to know when to look at or not… for that try to come to the chat during the day and i´ll try to explain it while they occur.
3- exit trades. i´m still learn the best way. for now only have one rule for it: never close a trade manually with less than a RR of 1:2. my goal is win big or BE
In a trending pair, has anyone tried using the 2-period MAs to scalp the hourly for 10-20 pips? I noticed that wicks seem to form outside the MAs on the hourly during trending moves and I was wondering if one could grab price at that point and trade it back towards the middle of the candle for a few pips each time.
(Sigh) I need a good trend [I]following[/I] strategy. People say price only trends 30% of the time, but I swear to God that must be about 80% of the time when I’m looking at the charts. With all these counter trend and reversal strats (Bolls w/MAs, Tymen, MMTT, etc) it seems I’m always staring at the charts, watching hundreds of pips go by while price hugs the outer Bollinger bands (upper or lower) for big gains.
It’s very dispiriting.
Look at that crazy looking Japanese indicator(s) ThePhoenix and Army Doc use. sounds like its good at long term trends.
I try and use all these reversal strats to pick a point on a retrace to get back in the longer term trend.
like i´ve said in the chat i think you need to found a direction to trade.
that means that no metter what is the system you use you should only trade in one direction. i don´t mean only go long or short.
for egsample in this system i´ve chosen to trade only in the direction of the inside of the channel. when price is out i trade when i think it will go in.
if you want to use BB you should chose if you want to trade reversals or breack outs of the bb lines. try to avoid doing both.
don´t know if you understand it. no one talks about it and in my opinion is the most important rule to trade
gpb/usd looks promising
i`m in
i manage to get into the chat…but there is nobody now 
I totally agree with this.
Pick a system that points you in a direction to trade on a higher TF then only trade that direction on a lower TF. Right now I am trading USD/CAD I am watching the 5 and 15 min chart I am only taking short trades. That is the direction MMTT points me in.
Hi Bradu,
Can you tell me why you took this trade. I assume it is a short?
Please let me know.
Eddie
That is the direction MMTT points me in
That’s the part which still confuses me about this method. Say the daily chart breaks the lower MA, do you then look for higher lows to go long or lower lows to enter a short? Basically, I can’t figure out if this is for trading reversals or breakouts 
im short on the usd/cad also with a very small SL. lets see what happens.
jeez, about every single pair is outside of the daily MA right now. lets see what we can do
You would look for higher lows - it is a reversal system.
will be a busy day
if you decide on chat to open a position, please inform us on this forum
i cant get into the chat - from work…only when i am at home
thanks
i´m in 6 pairs right now and waiting for open on eu and uchf.
what a day. 200 pips so far and the trading day it´s only at a half:D