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"7: Key numbers: Do not get long on a trade above the last two numbers above 85 through 15 or short with the last two below 15 through 85. The whole numbers often time create great resistance and the market typically reaches them and turns around a couple of time before actually breaking through the whole numbers. The closer that the last two numbers are to being 50 the better off you will be with your trade. "

I don't understand what the author means by key numbers?

Anybody want to elaborate on that?

thanks

Sada

 

Great!

Thank Alex,

Great tips.

But, don't you think they are dangerous -Risky? Specially point 6?

 

85 through 15 = Price 0.0085 - 0.0015 and0.0015 -0.0085

 
codersguru:
Thank Alex,

Great tips.

But, don't you think they are dangerous -Risky? Specially point 6?

Specially point 6 ???????

 
sadaloma:
"7: Key numbers: Do not get long on a trade above the last two numbers above 85 through 15 or short with the last two below 15 through 85. The whole numbers often time create great resistance and the market typically reaches them and turns around a couple of time before actually breaking through the whole numbers. The closer that the last two numbers are to being 50 the better off you will be with your trade. "

I don't understand what the author means by key numbers?

Anybody want to elaborate on that?

thanks

Sada

tradesignal2 = 0;

If Jpypair == 0 then

val2 = (Close[1] - (Floor(Close[1]*100) /100))*10000

else

val2 = (Close[1] - Floor(Close[1]))*100;

If val2 >= 15 and val2 <= 85 then tradesignal2 = 1;

 
Alex.Piech.FinGeR:
85 through 15 = Price 0.0085 - 0.0015 and0.0015 -0.0085

Sorry Alex...I still don't get it.

Maybe you could explain with for example the price of the eur/usd?

Not go long if?

Not go short if?

Sada

 
Alex.Piech.FinGeR:
Specially point 6 ???????

I meant this point:

Alex.Piech.FinGeR:
6: The actual trade. Place a buy stop 1 pip above the high and place a sell stop one pip below the previous days low. Look to make between 8-15 pips and risk around 35-60. I know this is hard to trade like this because one loss would wipe out several days of trading but trust me it really works. Never risk more than 5 times what you are going to make. I like to go for 10 pips and risk 35 pips. Place your orders along with the if then order with the stop loss and the targeted profit all at the same time. Or if your broker will let you place a stop order with a limit and a stop on it that is fine too. If you wish you can place your trade and walk away from your computer and come back the next morning to see that you have made money.
 

codersguru,

You are right. Risky. Especialy if we are trading using EA.

There are a lot of trading strategies to trade inside the channel, outside, open buy stop and sell stop at 13:30 GMT, and so on.

It may be ok to trade manually but mechanically ... I do not know.

 

Sada, I think it means for example:

Do not go long if price is 1.1785 through 1.1799 (because there will be resistance at the "round" number -- 1.1800, and it might retrace back down)

Do not go short if price is 1.1715 through 1.1701 (because there will be support at the "round" number -- 1.1700, and it might retrace back up)

But I could be wrong!

 

Alex, do you have an EA which trade automatically?

(seemed so to your code)

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