wasp

Prep for week ahead. Key levels and areas I will be watching for. Rather than pollute the live FX thread and for ease for me, if anyone is watching(! ), I will be trading with a strict 25p stop so I will only post entries (ie EJ Buy/Sell @ 156.00 - without posting the stop)...

Hi Art, Worry not, we all plan on contributing a great deal soon as do many others. At the moment, we are just finding our feet and reading the boards, as there is a whole wealth of different information over here and I don't want to start posting things that have been covered before. These boards and everyone here is refreshing and helpful with a great mod and staff team and I hope we live up to everyone's expectations! I can't wait to join in discussions about trading and for them to actually progress instead of going wayward. I agree it is a shame not all areas are accessible and if we were planning on not joining in the main boards, we would have just gone with a skype group. We will have both and soon you'll wish we would sod off back when you have 100's of new posts everyday instead of 20! :rofl: So watch this space, we will be posting soon........ PS. PM'ed GJ to sort him out!

Just a quick question... I have been looking through the Indices on WHC and IMO the NQ seems smoother, easier and larger moves... Anyone enlighten me?

We'll all be good, honest guv'

I don't know what to say but wow! Having come from 3 years at T2W, I have never read so much useful and informative information in one thread. Some absolute gems in there and I'm just going to read it all again and see if there's much/anything I can even add As Louis Balfour from the fast show jazz club would say...... Nice! I'll just chuck in an alternate view for now, which I look at incorporating a trend view too.

Hi, I'm purely a currencies trader and not checked it before. Not sure if anyone was aware, I know I wasn't, that this WHC metatrader I have linked to below provides free, real time, futures and stocks, forex, grains, metals, commodities and everything else you can think. Once opened you can click on tools > market watch > right click on the quotes > select 'show all' > and hey presto, everything. I do not know, nor vouch for its accuracy but for newbies and back up charts, it seems a very viable extra. It expires every 90 days but you just open a new account and start again. Hope that's helpful to some?! http://www.fastonlinetrading.com/terminal.html

Right, I don't care what FW might say, he didn't think of it! anyhow..... Chart should be self explanatory but notes on slight adoption to current way of trading. Adapting to any situation not just a set of rules.... Wouldn't want to go against new_traders theories!

and around we go...............:crap:

I believe GammaJammer likes it and I think Rols used it too but I found it limited, chunky, slow and expensive. I don't see why anyone would pay for something they don't need? Of course, with FX as there is no central exchange you want to use the charts from your broker as that's the only way you are looking at the same thing tick for tick but metatrader should be spot on with anything centrally traded as they are open to arbitrages otherwise.

Stocks, bonds, grains, metals, oil, fx, indicies........ it has the lot.

When and if it says demo has run out, you go File > Open account > refill boxes > click scan + open........ hey presto away you go.......

defining S/R. chart type assistance?

Interesting, I don't have any graphs but even in FX where there is technically no such thing as 'bulls and bears', shorting is much more profitable. It just moves so much easier.

If you; Click 'view' Select 'Market watch' Right click on any quote Select 'Show all' You should then get everything under the sun. It will be free.

Statistically, it works great for me. I could send you a zip file of 2008 weekly results showing the high rate of those being the reversal areas, but, try and keep the faith when you give the big boys 250 pips back come Friday and its not so easy! I think it is a great idea, or put up week ending analysis on this thread. Having others opinions out of hours could make you see something you miss and adds depth to ideas..... It should be in the top left corner of the chart on the toolbar, but, FYI, if I say GJ = Great British Pound and the Japanese Yen, or EJ = Euro and Japanese Yen, or UJ = United States Dollar and the Japanese Yen. Plus of course, in my blog I state I am a yen trader, my name has Yen lover below it and all I talk about is Yens (and alcohol! :rofl:) so thought it would be blatantly obvious! :haha:

The volume seems to make sense to me but then again not really :doh: An entry at the red dot after the rejection of the high looks a good entry though. Volume aside, looking at both, the rejection is a solid entry and the break below my double line would have given extra faith to me.

Overall, pip wise, not half bad, but considering I gave back the same again, not that great really. I have been thinking about S/R and scaling out as FW mentioned but its not me. In for a penny, in for a pound so I am stuck to the laptop this weekend studying the incorporation of S/R exits into my methodology. This charts shows the week and the peach boxes are the culprits for me not out enjoying myself. All this is in my blog but putting it here in case anyone has an opinion and it brings it out easier. Anyhow, the issue I have is line placement. IF i had the major s/r as shown, which to exit and which to stay in at is obvious but I guess thats a skill I am going to have to spend a lot of hours honing.

Ahh well......... Regardless of TF etc, thats how I work, ie TL crossover with S/R factored but on the hourly charts I was looking at, I would have been looking to continue the short. What TF is your chart?

Workaholics and lots of... :coffee: Mind you, not that Kiwi bloke, It's Saturday night for him and he is in his office working!

Bias is a terrible habit and I know what you mean although my bias is slightly different problem (shorts just make more money! fact!) but I find having less data on the screen makes me analyze the now only and not think about the bigger picture and it eradicates the bias. Thats just another reason to trade FX, we never close!

the WHC metatrader offers futures and stocks (and EVERYTHING else) if you need a separate chart program for free and low useage? http://www.fastonlinetrading.com/terminal.html

Hi G, Do you mean charting or broker? Hi FW and all, How was everyones week?

Despite what I just posted to FW, that was based on a hypothetical scenario of what I would do in that situation. I also do not look at that lower a TF although with the YM it may be advised. Anyhow, my take on it, and remembering I have no indices experience really... I'd be short from here (or the open still) with the pullback and rejection or resistance. Because I am looking for trends I'd be aiming for a continuation and only the current TL crossed would change my bias. That's on all 4 markets too.

Good enough reason to exit then it MUST be a good reason to enter!? :martini:

Have a stella for me! Have a good one....