Guys,
It is a milestone day. Today, January 15th marks a new high for me in trading.
Using the system below, I have accumulated 500 Pips in one month. Usually making 20-30 pips a day. On an average I have succeeded 90 % of the times. This week I have not lost a trade-well I did, I lost 2 pips but that was because I myself closed the trade as I read the Chart incorrectly.
Take care…
1Texan
And I become a Junior member today 
Hello,
I use Forex.com (Gain Capital)'s platform for a mini account, and fxcm’s platform for my micro account. Neither are MT4, although I heard that both offer MT4. But right now, staying with either platform, how can I make use of the LRC you have referred to here?
Thanks in advance,
PipLady
PipLady-
FXCM offers MT4 platform- but they will neither on the micro nor on demo. The way I solved this issue-I opened a demo with IBFx which alllows demos on MT4. I use their charts (which are 100 times better that fxcm’s). Once I decide which way to trade, I come back to fxcm and place my trade - well there is some delay and 1-2 pips difference but this does not bother me
Good luck pipping
Hi PipLady,
Just as Tex says…use a demo account from a broker that offers MT4…that’s what I do too.
I have 1/2 my screen with fxcm’s charts, and the other 1/2 with mt4’s charts and I can watch both at the same time.
But with three charts, I think I’d probably find it harder to squeeze them all in on one screen so maybe getting another screen might be the ticket…just a thought 
Hello MP,
Please take a look at the attached image–it is an LRC channel lay over the EUR/USD H1.
I would have placed a buy and sell order at the point A. Can you give me some ideas how could I have gauged what is going to happen next? The long downward candle that breaks the support? How do you tackle these situations? What indicators are good to use here?
Have a good weekend!
1tex
sweetpips and onetex is right on with their answers — just go for any MT4 demo and you can have it open UNDER your normal programs.
btw, i would NOT endorse IBFX in any way, shape or fashion as they NEVER allow their prices to reach the correct highs.
if youre trading the higher timeframes (not scalping in other words) you only have to refer to it from time to time to see where everything is !
enjoy and trade well
mp
hey one ====
sure dont look like any of the 3 charts i have for EURUSD for today on the H1— not even vaguely !
seeing as how “point A” is a reversal candle and the top of the move is not reaching the top of the LRC on prior candles, i would not have taken a long there based on no indicators.
What appears to have happened is the price hit a “temporary” resistance point and (on my charts) will reverse before then making its way up to the 1.3300 resistance, most likely breaking it and reaching 3350 area. What appears to have happened is your broker DROPPED the price in a rush at the end of day to perhaps set up for that situation on saturday
the support area should be 3255, but with no prices on your chart, i cant tell where the broker took it to.
whatever they did, they are ahead of all my other charts which do show a reversal to the 3255 point to happen, although the long will be picked up again, as i said !
do me a favor and ZIP the chart and send it with prices — seems if you zip the chart, when its unzipped at my end, its MUCH larger and clearer !
WHO is your broker, btw ??
thnx
mp
umm this is not todays chart-but the general question is how to spot the time when the price will break LRC. Can this be “usually” determined by the appearance of the trend change candle (the one with the long bottom wick??)
I need to know how to find these trend reversals for my style of trading inorder not to wipe out the weeks of gains
Attached is a chart from 1/9.
I think usually preceeded by appearance of that candle (I like to call it Skinny
LOL — your “skinny” candle is most often referred to as a “doji” and is invariably the precursor to a reversal — if you combined the LRC with “barrys support and resistance”, and an overlayr called “zigzag”, youll have a pretty danged good idea, since a doji does NOT always appear before a reversal !
for indicators, throw in a stochastic at 5/3/3 to 8/3/3 to 12/3/3 depending on the timeframe youre trading (smaller for the smaller, larger for the larger) and the CCI at normal values. Oh yeah, throw in the “accumulation/distribution” indicator also – it shows which way the money is flowing and is rather helpful – its used in a similar way as the CCI, although in higher timeframes, its a very accurate indicator in its own right !
use the stoch to read how high your price is going and “verify” with the CCI. you will find during minor reversals that the stoch wont move a whole lot, but the CCI will dive to the bottom showing oversold – when it heads up again, your long is continuing (or you better get out of your short scalp, if that is the case)
if the price is hitting the top LRC and the stoch starts to turn down, you are probably in store for a reversal, ESPECIALLY on the longer timeframes which dont move the channels around very much !
now the attached chart -----
the second indicator panel contains the CC1(aqua line) — notice how it hits highs along with the price and lows on lows ? It does emulate the accum/dist indicator so im considering eliminating one – just takes me forever to throw away an old friend !
since this is an H1 chart, the CCI goes along with price nicely, but if it were the shorter timeframes and you were long and the price did a minor retrace, the CCI would move DOWN to the bottom while the stoch only moved a touch, and then the CCI would come back up as the price continued its up move ---- watch for that !
enjoy and trade well
mp
eurusd for onetex.zip (260 KB)
Why is it that only you on this site offer some real helpful advice-but I probbably gauged you the firt day when I said-You are a good man MP
Ok, Stochs, Barry (though I am not 100% sure what it is), AND cci make sense-but AD??? Anyways, I am now going to tell you a dirty lil secret of mine (man, how I do it without stopping all those mean bankers from knowing all about it:)— When the LR line cuts through your price candle, and you are long or short at that time…it is better to close your trade and run for cover coz at that time the price will reverse.
Ok, Ok, its ok-I accept your adulations
If you dont already know about it isnt it a correct find???Something like when newton found apples all fall down??
1tex
enjoy and trade well
mp
Hahaha. Yeah that is so true
Yeah I noted that there is a good connection between “the way” LR line cuts the price candle and particular positioning of the EMAs. This intersection of the candle seems to give out a foresight that the direction will change.
Sure I will look into AD (But I have not kept a trade for more than 4-5 days, let alone 37 :)) My fav is the H1. King H1
works fine on the H1, for is that not a LONGER TIMEFRAME ???
mp
Yes. That is right- I need to devote some more time to undersrtand this and the Barrys support and resistance.
Thanks as always for the wisdom!
And interestingly, I am thinking out loud to myself that I may also call this system tex divergence…lol…why, coz I am sure If you look closely enough there is also a divergence between the line indicators when the time to go into the trade has come. In other words when the time is right and the price is “right” you will see a divergence. With your own 2 naked eyes-a divergence-that will tell you blatantly “Hey Joe, go long now”, “Hey Johny, Short it now and Short it ASAP”
Lol…the saturday forex school is wonderful. You get to make new acquaintances, you get to know people, and bestyet you get to design the next Mon-Fri trading map in your head. Sweet!
I guess I need to shut myself down now and go to the mall and catch Frost/Nixon.
While I am trying not to be self sufficient (bmob) I also need to cater to my domestic boss- ahh…I hate to part with you forex 
[B]COMING TOMORROW[/B]
HURRY, HURRY, HURRY — STEP RIGHT UP and be in the front lines for this most amazing discourse about MY TAKE on one of the most maligned little chart overlays that ever touched boot to ground, so hated that NO songs or fables have ever been attributed to its miserable little hide !
BUT, like all things in this world, there is more than just ONE way of looking at this “golom” type of critter !
see you tomorrow with all the charts and tough love i can bring to rescue this wretched creature from its hopeless mire and restore it to its once proudly held position !
until then
enjoy and trade well
mp
Well I’m in like the Pirate Flynn!
I appreciate you posting this method 1Tex. I’m going to do my best to implement it successfully as it seems pretty simple which is good. I know that you have (as you stated) absorbed a lot of trading help from the learned shepherd of the sheep MP which appeals to me as I have been trying to figure out how a kneubea can begin to implement some of his principles and indicators (overlays) into a trading system (method??).
<drivel>
I understand that the goal down the road in a few years is to be able to adjust ones methods to the market be it trending, ranging, consolidating, congested or whatever instead of being reliant on a single system. Thats the goal, yes but how does one get there? Well to tell you the truth I’m not exactly sure and so the only thing I can see to do is to jump in and experiment with systems and methods all the while realizing that any one system is going to have its weaknesses. Now I’m not sure why I just said all of this except that is what i’m thinking about as I try to get a bigger picture of where I’m going and where I am here at the beginning of the LONG journey. Thanks for giving me a place to start. </drivel>
I’m wondering if you can update the first post of the laddo method to incorporate some of the things that you are now doing differently.
Many questions to come here shortly. (hmmm is that a threat or a promise?)
congrads 1TX you seem to be very active here.
yes sir I eat, sleep and drink forex and babypips on Fridays, Saturdays and Sundays
