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There Is No Right/Wrong.... Only Profitable/Unprofitable. |
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Thou Shalt Not Front Run The News! |
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just grabbed another 2 pips on eurusd but im holding off now for a bit, theres a speech by a CHF chairman which could affect eur. |
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That's the reason the fib retrace lines are plotted. You can usually get a 23% retrace off of support/resistance. If the drop/run up is big and happens fast, you usually see a 50% retrace. These targets come in handy. You can close half your position, lock in profit, and let the rest ride. |
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Use a message system. Make technology work for you. NO EXCUSES!! |
Can someone tell me what is the name of the h1 & d1 big arrow indicator?
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But it is NOT one of the indicators that I posted. |
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Is that the only time you take a trade go long/sell SR lines? do you personally trade in between the blue/red dots? also, you enter based on the open of the candle + h1, right? what do you do when the open of the candle + h1 are the same then the candle quickly turns against the h1? do hold or exit? still just trying to understand the basics...sry. |
HO LEE SH!T i havent looked at GBPUSD all day and when i do i see its gone up over 250 pips since thos morning!!!!!!!!!
ive got a long open now, up up and awaaaaaaaaaaaaaaay. |
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If trade goes against me, I wait. Sometimes, I'll add to the position and trade my way out. |
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LOL
I feel honoured |
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My friend, Bruce, wrote this FREE NEWSREADER Nothing else comes close. |
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Now
that you made the question, I remembered to check S/R for the last 21
bars. Support would be at around 1.7565 and Resistance at 1.7685, so I
should not buy.
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HOW MUCH IS ENOUGH?
http://i35.tinypic.com/2ai33sx.gif Is 4 or 5 pips enough profit for you? Here's a perfect example. Got a go Short alert. D1 is RED H1 is GREEN. Look at the chart... price bounced off resistance for the second time, and retraced 23%. Taking the trade is going AGAINST H1 so you take a quick 4 - 5 pips and be done with it. |
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http://forums.babypips.com/attachmen...9&d=1219613623 |
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found a slightly newer version
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Does anybody know if/how one can print this whole thread from the forum?
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Hey
guys just some encouragement for those with smaller accounts. It is
very possible with compounding to become wealthy trading forex. I
picked some materials up from a guy named robert borowski years ago
when I was first starting out. He showed how to make $300 into $30,000
in 6 months or so. This plan assumes at least in the beginning that you
will have to be a little more agressive and risk as much as 5% but
after the first grand or so you should limit yourself to 2%
Step 1 $0 to $399 trade 1 mini lot 100 pips* Step 2 $400 to $599 trade 2 mini lots 100 pips Step 3 $600 to $899 trade 3 mini lots 100 pips Step 4 $900 to $1299 trade 4 mini lots 100 pips Step 5 $1300 to $1999 trade 5 mini lots 140 pips Step 6 $2000 to $2999 trade 6 mini lots 166 pips Step 7 $3000 to $4499 trade 7 mini lots 214 pips Step 8 $4500 to $6999 trade 8 mini lots 312 pips Step 9 $7000 to $9999 trade 9 mini lots 333 pips * From your start of $300 (Note: This plan assumes you are following a strategy that only risks a maximum of 20 pips per trade you may need to adjust this plan to fit your equity management rules.)Considering that you could realistically get 100 pips per week (20 pips a day!!!) that means that you could possibly get to $10,000 in just 4 months. Compare that to sticking $300 into your local bank’s savings account – you’d be lucky to earn a dollar in the same time frame! Step 10 - $10,000 to $14,999 – trade 1 regular lot – 500 pips Step 11 - $15,000 to $19,999 – trade 2 regular lots – 250 pips Step 12 - $20,000 to $29,999 – trade 3 regular lots – 333 pips After this point you should only increase your regular lots traded as you move up $10,000 (or more). Just food for thought :) |
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Thanks for sharing! I like MURRAY MATH LINES because they are HORIZONTAL LINES. And, by now, you KNOW WHAT TO DO AT A HORIZONTAL LINE, don't you? |
Well
since y'all want simple, here's simple. Tell me if you don't see where
this price is going. I color coded to give you some hints as to my
thoughts.
http://i245.photobucket.com/albums/g...Untitled-1.jpg TRO I also had a question about your TRO_SupRESHHLL indicator. Bar 0 is set back 35 bars as for the Dyanmic_Fibs_SR indicator that draws support/resistance pretty much at the ends of the screen when I have iPeriod set to 21 or any number for that matter. My final question. When you are using the Dynamic FIBS, how do you know which ones are the 24/38/50% et cetera. I see fib dots everywhere and I am not able to figure out which Fib line is the one we are measuring from and which one is which. Some candles have 5+ dots, others just one. By simple observation the more dots looks like stronger support/resistance strength because price action was minimal. EDIT: Almost forgot. The lowest Support level I drew in red is the NY opening bar coincidentally. September 12th, 2008 and the upper most resistance is as of an hour ago. GBP/USD |
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Dragon Murray Math setup. I got tired of entering the 50 ema parameters so I wrote the TRO_TUNNEL_DRAGON indicator. |
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TRO, is that sydney, london, NY line using your own indicator? Or i can download somewhere? Quote:
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Thanks SO much TRO!
TRO,
You have helped me both off and on this forum thread. I just wanted to thank you publicly. I also wanted to tell others that what you say about buying at bid and selling at ask is true. It is possible, depending on if you are with an ECN or not, and if you use LIMIT orders or not. I bought at bid the other day for the first time, and was amazed. I didn't pay spread on that trade! I just paid commissions. Also, when I first came to you, I had an idea, and you freely gave of your time and energy (for over a month!) to get me what I wanted and thought I needed. It turned out that I like what you've been discussing in this thread so much that I put the other strategy on the back burner for now. TRO and I have "butted heads" more than once trying to understand each other. He is passionate, and maybe a little rough around the edges, but his intentions are the best. I have never seen anybody in Forex give so freely of their time as you have TRO. Kudos. For how you are helping all of us, I wish you the best, and continued prosperity! Don |
Ohh
my apologies, that is the 30 minute timeframe Yummy. If you compare the
last little push from the bearish hammer on to the push from NY open to
the hammer you will see they are of almost equal lengths of time. The
bulls are losing steam! There was a nice rally today, but I expect the
sellers will take care of that. Just waiting for a signal. My chamber
is loaded :D
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