i want to get details about divergence trading and retacment trading also.
I am a Newbie forex Trader too.. from all the research that I've done, I've realized that making it big using Forex is not going to be an easy task.. and especially if you are going to rely on indicators alone, you are not going to go anywhere.
I've been testing the Darkonix System for sometime now and though it does give you good Pips, it also can give you Flicking Flase Signals.. And these False signals will kill your Account if you do not have Good Money Management..
I myself am not sure how to manage Risk .. My Greed takes over and I somehow keep putting on more and more orders per trade...I've been pretty lucky till date.
Anyways enough of the Pshycobabble..
Zoe, i can tell you for a fact that manual trading is much more interesting and will engage your brain to think more , which will eventually make you come up with your own strategy and system. Thats when you'll make some profits..
Please look at Divergence Tradingand you will see that it is an ATM Machine most of the time...You just need one Indicator (Oscilator) and Trend lines to figure it out..
On my live account, I don't want to take a risk so I only do Divergence Trading these days..
Here's how it looks like..
I wait for a Divergence to form and then wait for the Stoch Cross (Signal)..Once i see the Signal I enter. I don't look for Pips, I basically am trying to hit a initial target of $50.. ( 0.5 lots x 10pips).... Once I make the $50.. I risk that $50 make the rest of profits for the day. so eventually I don't risk the Principal Amount that I put in. Once I make about $150 - $200 bucks I stop trading and go back to sleep..
I really wish there was some place here in India where I could go and learn technical Analysis .. Till then I guess I gotta continue downloading Trading Videos and try to figure it out myself
Best of luck to your trading , Zoe
i am dr kamal from riyadh orginally from bangladesh and allways losser in forex in last 3 yrs.
your divergence and retracement trading looks very exciting and also profitable.please let me know about details about both with indicators and settings.i will be very happy if you send me mail or telephone or chat to make me clear.
sorry ,i have done some wrong on this posting
where u get profit meter
i am new here.where r u get ptofit news meter?let me know about news meter and other indicators u r using
I got the "free" currency meter from News profiteer ( you can google it ). Word of warning its a IM site and I don't recommend buying anything. The other added indi on my recent chart is the Woodie's choppy zone indicator. You can get it here....
Welcome to the thread and good luck with your trading.
Someone asked for the retracemnet indicator , i attached it , its from this thread Flag trading the trend @ Forex Factory and nothing more then a CCI with certain levels
Is it possible to adjust the rangelagea for the below? I tried but i have no idea how to code things. If someone could perhaps provide me with some reading material that maybe able to help me do this that would be appreciated.
Not sure if this is difficult but what I am wanting to do is create an EA that:
- when the SSL is red and the Gann bars are red the ea will sell only then when the Non lag changes from green to red.
- when the SSL is green and the Gann bars are blue the ea will buy only then when the Non lag changes from red to green.
- Pick up settings directly from the indicators.
- Have option for TP, trailing stop loss and SL (this i can do)
- Close buy position when Non lag changes from Green to red.
- Close sell position when Non lag changes from red to green.
- Money management (this i can do)
- Set SL on last swing low for buy and last swing high for sell + 5 pips.
Darkonix system with Rangebars...just something to look at
Thanks to Darkonix for this system and everyone who has contributed to it.
I decided to apply the system to 10 pip Rangebars to see the results. I was looking for a entry that captured more pips than the alert at close of second bar due to that bar often being rather large...the rangebars create and close bars faster giving a faster signal therefore capturing more pips in the majority of signals....there is sometimes more noise but tweaking the times, ranges, LB etc., as on time charts, changes the signals and noise.
This is just something to look at...not an attempt to change the system. The arrows are PeterEntry and the dots are BrainTrend1 Stop...the dots give a good indication for trailing stop placement.
Good going AW7866,
How's everybody else doing with the Darkonix System.. I hate it when i have to work long hours ..
Wasn't able to trade for the past 2 weeks
it doesn't work on 6 digits broker (oanda for meta4).
Can I know how to work in the oanda for meta4?
I honestly say that this thread is very helpful. I am new here and I have learned a lot.
I noticed how important is to pay attention for the economic calendar today. By using trailling stop setted as 15 with darkonix system I could avoid a 80 pips loss!