BUYING ZONE AND SELLING ZONE

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PLEASE I NEED HELP. I HAVE TRIED TO TRADE FOREX FOR ABOUT ONE YEAR NOW. BUT A AJOR CHALLENGE I HAVE IS THAT I DO NOT KNOW WHEN TO BUY AND WHEN TO SELL. AS SOON AS I PLACE A BUY POSITION THE MARKET WILL START TO SELL. LIKEWISE IF I PLACE A SELL LATER, THE MARKET WILL START BUYING. PLEASE COULD SOMEONE TELL ME HOW TO KNOW THE BUY AND SELL ZONE AND ALSO A SOFTWARE THAT I CAN USE ON THE PC TO TELL ME THE BUY AND SELL ZONE, OR WHEN TO BUY AND WHEN TO SELL. THANKS.


SEBAZ

 

You need to look at a chart and add the basic indicators RSI or CCI, to see if the market is overstretched and liable to reverse

If these indicators turn down before price action does, dont buy!

FWIW

-BB-

 
BarrowBoy thanks for your reply. I see that the CCI and RSI have options for different periods and apply to, so this is where the problem will come in now. How do I know the period to use and "apply to" since they play a major role to determine what to do? Secondly, I would like to know a good EA for trading Eur/Usd. Tanx.
 

> How do I know the period to use

Trial and error, start with the defaults and watch the charts, concentrate on one pair only and stick with it, get to know its tempo and moods...

Pick a pair that has its main moves when you can best monitor it, if more than one is available, go for the pair with the lowest spread

For methods to make oscillators easier to read see 'Proper Indicator Signals'

For handy, clear indicators see http://www.selectfx.net/free_stuff_menu.htm

> I would like to know a good EA for trading Eur/Usd

So would I, I dont have a good one at present - got several mediocre ones :(

Good Luck

-BB-

 

I acknowledge your quick reply and selfless response. I think you are advising me to take it gradually and monitor the market moves. You know, there is this drive to really make money in the market seeing others who have perfected their strategies making it, although one needs to learn.

You can't be very funny, you mean you still need a good EA for EUR/USD, I like the simplicity. If I have one I would have told you what it is.so you can use it. However, when you succeed in getting one I would like to what it is so I can use it. CIAO

 

Hi

does anybody have developed zone marking tool in MT4?

what i mean by Zone marking tool is that...

suppose i want to buy EUR/USD between 1.37247- 1.37169 Then i will have to use free line tool twice for marking that zone. again it not giving proper precision of that zone.

a single tool which will enable user to mark zone as per his linking is very much needed as trading in zone has been popular in trading world.

but i never came across this tool on MT4

DAILY, WEEKLY, Quarterly, 60 min, 15 min, 5 min zones can be marked

I hope it is already exists and i might have not installed it. would appreciate if somebody help me find it (if it is already exist).

a sample jpg is attached here with the comment for quick understanding.zone

cheers...!!!

 

I have been using excellent SS_SupportResistance indicator. Though it is not my work :) it is really useful.

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