Forex Trading With Simple Setup - page 34
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Just like kolachi ? Nic
Hi nicesurf.
Could you post chart ?
What happens is, many times we look at the thing with some Bias, and that bias shows the thing as what we want and not the orginal thing.
Kolachi method is also good approach of looking at price,
Setup explain in this thread is unique at it's own and kolachi use different types of setup.
We have to decide which method is sutable for own trading style.
Best Regards
Ramdas
6 Sma
Pardon me if question was asked before. Do you use same set up for longer term chart or adjust SMA, for example 30 Min. chart SMA 5, SMA 50, SMA 100 (1 Hr), SMA 400 (4 Hr) and so on?? Thank you for your time.
Hi Aja,
yes, you keep the same MA periods and you can just switch your timeframe.
Actually, SMA50 on 1 Hour is (50 * 12) 600SMA on 5 min, etc.
So the bigger the timeframe the more significant/stronger SMA level.
Take care,
Endy
Thanks to all for apreciation,
Again today setup shown very perfect signal for all three main jpy pair. and stop halt just near sma2400 of GBP/JPY. and U/J weekly pivote
I am not posting chart, since you know it now.
and since this thread content lot of chart's for showing price actions.
I am of view to keep the thread with less post, so that new reader can study thread easily..else reading very long thread is painfull.
Best Regards
RamdasRamdas,
Thank you for sharing your strategies with all of us.
Now that you have shared the basic overview, understanding, and setup of your strategies, perhaps if you were to provide a daily overview of one currency, such as the gbp/usd since it moves the most, it would help everyone better understand your thought processes and strategies in action. For example, watching your setup on the gbp/usd over the past few days where the price action has penetrated some of the MAs on your setup causes questions as to how to know when the price is bouncing off an MA or when it will just push through.
If you were to provide a daily assessment of where the market went, your analysis of what happened on your charts, and what you are looking for the price to do (expect it to bounce off the 600 MA later today, or whatever) could prove helpful as we all continue to try to take your ideas from the concept stage into being able to implement them as you do.
This could prove extremely helpful, yet hopefully not require too much of your time.
Thanks!
Ramdas,
Thank you for sharing your strategies with all of us.
Now that you have shared the basic overview, understanding, and setup of your strategies, perhaps if you were to provide a daily overview of one currency, such as the gbp/usd since it moves the most, it would help everyone better understand your thought processes and strategies in action. For example, watching your setup on the gbp/usd over the past few days where the price action has penetrated some of the MAs on your setup causes questions as to how to know when the price is bouncing off an MA or when it will just push through.
If you were to provide a daily assessment of where the market went, your analysis of what happened on your charts, and what you are looking for the price to do (expect it to bounce off the 600 MA later today, or whatever) could prove helpful as we all continue to try to take your ideas from the concept stage into being able to implement them as you do.
This could prove extremely helpful, yet hopefully not require too much of your time.
Thanks!Hello Tradefxadvisor,
I have provided lot of examples in this thread,
Let's see current GBP/USD movement. i have given remark on chart.
after previous day's good fall in G/U...next day price is expected to be choopy.and goes under consolidation.
Under consolidation you will find all choopy movement on 5min.
if you see same period on 1min you will see some logical movement. But mostly frustrating.
Regarding penetration of SMA, it all depend upon how price has reach to that SMA. if you refer current attached chart of G/U you will see price has reach SMA600 after consolidation and bounce off sma150. (5min)
So in this situation SMA600 resistance is very weak.
and you will be shock if you see same movement on 1min chart.
price is well behaved on 1min.
Best Regards
Ramdas
Hello Tradefxadvisor,
I have provided lot of examples in this thread,
Let's see current GBP/USD movement. i have given remark on chart.
after previous day's good fall in G/U...next day price is expected to be choopy.and goes under consolidation.
Under consolidation you will find all choopy movement on 5min.
if you see same period on 1min you will see some logical movement. But mostly frustrating.
Regarding penetration of SMA, it all depend upon how price has reach to that SMA. if you refer current attached chart of G/U you will see price has reach SMA600 after consolidation and bounce off sma150. (5min)
So in this situation SMA600 resistance is very weak.
and you will be shock if you see same movement on 1min chart.
price is well behaved on 1min.
Best Regards
RamdasYes, thank you for the several good examples. The "rear view mirror" review of your charts is helpful, however I believe it may be even more beneficial to many traders if you can review the charts in present time and help us all understand your logic and analysis of what is presently happening in the market.
Perhaps I am the only one, but I am struggling to identify the appropriate actions to take in real time. After a bounce has taken place, I can see that it happened, but I struggle to identify the bounce in real time so that I know when to trade and when not to trade based upon your setup and theories. Looking back and reviewing an old chart is one thing, but it is entirely different to be able to trade in a live market.
Hopefully you can help several of us bridge that gap and discover all of the value in what you are sharing.
Thank you.
Yes, thank you for the several good examples. The "rear view mirror" review of your charts is helpful, however I believe it may be even more beneficial to many traders if you can review the charts in present time and help us all understand your logic and analysis of what is presently happening in the market.
Perhaps I am the only one, but I am struggling to identify the appropriate actions to take in real time. After a bounce has taken place, I can see that it happened, but I struggle to identify the bounce in real time so that I know when to trade and when not to trade based upon your setup and theories. Looking back and reviewing an old chart is one thing, but it is entirely different to be able to trade in a live market.
Hopefully you can help several of us bridge that gap and discover all of the value in what you are sharing.
Thank you.Hello Tradefxadvisor,
Real time action is the most important, Understanding possible bounce is skill which get's develop with practice.
As i mention in thread in starting , It require greate mind control to go long at Bottom of red candle. once we get bad hit, we think "what if this time i am wrong" for next 5 Positions.
Just check history chart and understand what your mind think when setup shows buy spot.
Best part of the setup is... it shows where we can take pos..no other indicator will show you that.
Mind control, decipline and understanding Traders behaviour is main part in Trading. if you fail in this, any setup will not work for you.
taking action in real time is realy difficult..even myself find it difficult many times.
reviewing old chart shows how market behave and base on that behaviour we put possible trade based on price pattern. No need to review old chart..just review today's or last three day's chart. and study why price fall or bounce from particuler spot.
If you find this setup is difficult, just try another setup's and experinace it and then again come to this setup if you feel.
Bets regards
Ramdas
training
What personally helped me, was MT feature, when you switch off autoscroll in chart and go somewhere to past and then keep hitting F12.. It scrolls candle by candle.
Of course this won't help you much with the skill you need when putting together action on several pairs (like JPY or USD getting stronger/weaker), but it all comes with practice..
Best Regards,
Endy
Hi Ramdas,
Thank you for this thread - I feel it will be a great help to learn trading. I have read the thread from the beginning and am just starting to watch charts in real time. Am I correct in thinking that the attached chart is a bad place to enter due to being so close to the 2400ma?
Thanks again,
Lou G
Hi Ramdas,
Thank you for this thread - I feel it will be a great help to learn trading. I have read the thread from the beginning and am just starting to watch charts in real time. Am I correct in thinking that the attached chart is a bad place to enter due to being so close to the 2400ma?
Thanks again,
Lou GHi Lou G
Yes you are correct, it's exit time instead of entry. profit booking area.
some range bound trading area, before further direction.
If you sell at sma2400, for down probability. position to be exited if price do not shown weakness. or when price touch sma150 on 5min chart.
Range bound price area. range 1.3400 to 1.3366 EUR/USD
Best Regards
Ramdas