Newtron Bomb
Guest Author
- Messages
- 1,602
- Likes
- 87
Great stuff BB,
Just goes to show this it does work in any time frame
Just goes to show this it does work in any time frame
Currency Trading; September 03
- Thread starter Newtron Bomb
- Start date
- Watchers 6
Newtron Bomb
Guest Author
- Messages
- 1,602
- Likes
- 87
...and then i remind myself why i just use a ma when i see this happen time and again
From the patterns perspective mentioned above... support was found from the top of the main action of the overnight range, making a higher low.
looking at it with the exp. tri. in mind then the failure to reach its base support would indicate further moves north... however it is really range bound atm and a solid move above 1.66 should show the way for more advances... am bullish if you cant guess by now :cheesy:
From the patterns perspective mentioned above... support was found from the top of the main action of the overnight range, making a higher low.
looking at it with the exp. tri. in mind then the failure to reach its base support would indicate further moves north... however it is really range bound atm and a solid move above 1.66 should show the way for more advances... am bullish if you cant guess by now :cheesy:
Attachments
Newtron Bomb
Guest Author
- Messages
- 1,602
- Likes
- 87
gbp/usd - added @ 1.6625
eu/$ - added @ 1.1520
eu/$ - added @ 1.1520
Newtron Bomb
Guest Author
- Messages
- 1,602
- Likes
- 87
gbp/usd - stop @ 1.6590 - 35
Newtron Bomb
Guest Author
- Messages
- 1,602
- Likes
- 87
The clues all lay in rsi again today... asc. tri. forming with nothing really to worry about in the price action as the ema was barley challenged... with hind sight the 1.6625 entry could have been avoided but my analysis says it will go in my favour and at some point these pattens have to break for them to complete....
As a result i was expecting the expanding triangle (which didnt pan out anyway ) to BO if it didn't then i thought that 1.66 would provide support as it was after all resistance for a while.
The same applied for rsi and break in the asc. tri. would have been nice... but then again am still in the money with my one loss today
Excluding all the analysis that gets done for a variety of justifications... it is really not necessary spend time at the screen to trade this method... as the strat i follow sorts itself out... if a price hits a level i get a text alert and simply place an order over the phone... I really just need to check the ema every couple of hours to amend a stop and reverse point and if it gets triggered then again i get an alert to notify my what has happened to place a stop loss order even on the days that are very choppy like today it is still relaxing to trade... if you want your finger on the pulse then look at a smaller time frame :cheesy:
As a result i was expecting the expanding triangle (which didnt pan out anyway
) to BO if it didn't then i thought that 1.66 would provide support as it was after all resistance for a while.The same applied for rsi and break in the asc. tri. would have been nice... but then again am still in the money with my one loss today
Excluding all the analysis that gets done for a variety of justifications... it is really not necessary spend time at the screen to trade this method... as the strat i follow sorts itself out... if a price hits a level i get a text alert and simply place an order over the phone... I really just need to check the ema every couple of hours to amend a stop and reverse point and if it gets triggered then again i get an alert to notify my what has happened to place a stop loss order
even on the days that are very choppy like today it is still relaxing to trade... if you want your finger on the pulse then look at a smaller time frame :cheesy:Attachments
Hi Newtron Bomb
Good thread following your system looking @ $/£ & $/CHf and I have opened a demo account,sorry to be such a novice i have learned how to set orders how do i set stops & limits can only seem to get market orders,when i press help it tells me how to confirm or cancel order.
Thank you for you help and patience
Newboy
Good thread following your system looking @ $/£ & $/CHf and I have opened a demo account,sorry to be such a novice i have learned how to set orders how do i set stops & limits can only seem to get market orders,when i press help it tells me how to confirm or cancel order.
Thank you for you help and patience
Newboy
Hi Newtron
I've not posted for a few days but am still following your posts with interest.
You mentioned that you get text alerts. Who are these provided by? Is it CMC as I know you use them (As I do).
I would be interested in getting a service like this as it would help me in opening positions without putting in a stop order which would otherwise be left with no protective stop if hit. (as discussed on a previous thread).
Newboy
Just to clarify, are you talking about a demo account with cmc spreabet or another platform?
I've not posted for a few days but am still following your posts with interest.
You mentioned that you get text alerts. Who are these provided by? Is it CMC as I know you use them (As I do).
I would be interested in getting a service like this as it would help me in opening positions without putting in a stop order which would otherwise be left with no protective stop if hit. (as discussed on a previous thread).
Newboy
Just to clarify, are you talking about a demo account with cmc spreabet or another platform?
Newtron Bomb
Guest Author
- Messages
- 1,602
- Likes
- 87
Morning folks
newboy
A demo account with whom :?: this would help to answer your question.. am assuming that some demo accounts are just that they are a demonstration and as such may not have the full functionality of the live trading platform
darrenf
Ive set a text alerts up when my orders are executed or when a price level am watching it met, so that i can go out an do all the other stuff
I set up an email alerts with whichever broker provides them, in this case cmc. I have that sent to an web email account with orange who then send me a text message to notify me of a new message... as i dont use this account for anything else or give this out to anyone there is no spam
It seems a bit long winded to set up and it sounds like it takes forever but the delay is less than a second from the order being triggered on my platform to me getting a text alert.... even when this email virus and others were blocking up the internet the delay was a maximum of 5 mins
HTH
happy trading
newboy
A demo account with whom :?: this would help to answer your question.. am assuming that some demo accounts are just that they are a demonstration and as such may not have the full functionality of the live trading platform
darrenf
Ive set a text alerts up when my orders are executed or when a price level am watching it met, so that i can go out an do all the other stuff
I set up an email alerts with whichever broker provides them, in this case cmc. I have that sent to an web email account with orange who then send me a text message to notify me of a new message... as i dont use this account for anything else or give this out to anyone there is no spam
It seems a bit long winded to set up and it sounds like it takes forever but the delay is less than a second from the order being triggered on my platform to me getting a text alert.... even when this email virus and others were blocking up the internet the delay was a maximum of 5 mins
HTH
happy trading
Newtron Bomb
Guest Author
- Messages
- 1,602
- Likes
- 87
Hi Newtron Bomb & Al Motor
Thanks for replies I have a demo acc with FXCM and pressing their advanced dealing rate icon for the relevant currency only gives market orders.Is D4Free the same as cmc & are they both spread bet companies,I have noticed the spread is similar between IG Index D4Freee & FXCM so for tax reasons and keep thing simple (not that I have earned a penny yet)would the former two be better.
Thanks for your helpful replies
newboy
Is it me or are the markets a little quiet
Thanks for replies I have a demo acc with FXCM and pressing their advanced dealing rate icon for the relevant currency only gives market orders.Is D4Free the same as cmc & are they both spread bet companies,I have noticed the spread is similar between IG Index D4Freee & FXCM so for tax reasons and keep thing simple (not that I have earned a penny yet)would the former two be better.
Thanks for your helpful replies
newboy
Is it me or are the markets a little quiet
Newtron Bomb
Guest Author
- Messages
- 1,602
- Likes
- 87
al-motor
yes you are correct.. so far been to shops had a read of the paper had a coffee while watching all the eye candy, and now am off toa mates house before the us opens... yawn... all in a days work
yes you are correct.. so far been to shops had a read of the paper had a coffee while watching all the eye candy, and now am off toa mates house before the us opens... yawn... all in a days work
Newtron Bomb
Guest Author
- Messages
- 1,602
- Likes
- 87
Deal4Free is cmc
They also have a forex arm and IMO would be better all round to trade with the spreadbet side.
They also have a forex arm and IMO would be better all round to trade with the spreadbet side.
Newtron Bomb
Guest Author
- Messages
- 1,602
- Likes
- 87
Yes it will as i use them for my forex trading...
No replies for the next hour or so as am out.... gbp bouncing of the channel support and euro/$ doing the same of yesterdays and the overnight lows
Happy trading
No replies for the next hour or so as am out.... gbp bouncing of the channel support and euro/$ doing the same of yesterdays and the overnight lows
Happy trading
Bigbusiness
Experienced member
- Messages
- 1,408
- Likes
- 23
The Euro/$ looks set for a big move. I just can't work out if it will be up or down!
warm_machine
Member
- Messages
- 70
- Likes
- 0
There are some option structures that need to be played out today (3pm expiry) and once dealt with may offer euro chance to test but fail at 1.1550, tho much will depend on US data as the pair has been well offered during the latter part of this week and spec accounts will most certainly be holding long positions...if US data forces them out ahead of the weekend then euro likely to see 1.1415/20 area
Newtron Bomb
Guest Author
- Messages
- 1,602
- Likes
- 87
warm_machine
interestingcomments
gbp
nice pullback before my next entry 1.6625 and a new high, support found at 1.6590, which was where most of the action was over night excluding the spike....
on that note, the spike have been indicating the likely direction of the moves followed by a false BO before reversing back in the direction of the spike
euro/$
overnight range was on yesterdays overnight lows and a gain testing resistance that has become support...
This is all basic TA and i feel like am really stating the obvious, if this is any use i'll continue. if not i'll just keep it what trade am doing
interestingcomments
gbp
nice pullback before my next entry 1.6625 and a new high, support found at 1.6590, which was where most of the action was over night excluding the spike....
on that note, the spike have been indicating the likely direction of the moves followed by a false BO before reversing back in the direction of the spike
euro/$
overnight range was on yesterdays overnight lows and a gain testing resistance that has become support...
This is all basic TA and i feel like am really stating the obvious, if this is any use i'll continue. if not i'll just keep it what trade am doing
