XHTML: Just in. This is a good read:
http://www.dailyfx.com/forex/education/trading_tips/chart_of_the_day/2013/07/12/Entering_Trends_At_Great_Prices_With_Corrections.html

McNelson: If you are not in the EU and GU sell......u re on a long thing.

ogene70: hello my fellow traders, please where can i buy webmoney? any useful information will be appreciated, thanks.

XHTML:

Target Achieved on Gold. However, Rather than exit, I moved my SL to the TP - just under the 1277.xx support.

naijababe:

That long just get as e be for my eye. I am going to stand aside for now. If it does 106.xx, it just means I will get a chance to sell at a higher price.

yomex_y2:

i actually have this EU trade on my radar, a nice bounce off 1/8th level, double bottom with a little cute reversal bar. i will be targeting 4/8th level which coincides with 61% fibo level. for EJ, i m already in the long trade aiming the nearest double top. For GU, i dont like the closing bar, the bears are in control

fxbomovi: thanks for the explanation. I bought uj. Tp is at 99.5x. But atr says 99.7x. Am watching to see if price will reach atr level

XHTML:


You seem doing just fine with it. The indicator doesn't give you directions however, but projects a possible range in which a currency or pair can move.

There are three bands that will be displayed on the chart. The outter bands in plain black is the 100%, followed by the 70% and the mid 50% band. (or the High 1, high 2, high 3 and Low 1, Low 2, Low 3 respectively) - whichever way you like to call them.

On a conservative level, you'd want to have your TP at or a little above the 50% band level, If price breaches the 50% band towards the 70% and the band does not move along, it would indicate that momentum might be slowing down - around this point I most times take part profit, if possible (or switch to trailing stops).

If price breaches the 70% level up to the 100% band and the bands don't move along, then clearly momentum is slowing down and you'd want to be cautious about taking any new trades from that point unless you have a strong reason to (fundamental triggers and the likes).

You can see what happens in the attached chart (audusd) for example.

I got in after the support was breached, took part profit 0.90409 and closed the remainder at 0.90104 as clearly the bearish momentum was running out.

You can see that even though price surged down below the 100% band, it retracted, with price closing for the hourly candle at 0.90325. Anyone taking a further sell position below the 100% band level would be lucky to escape with no loss. When I opened the position, the Low 2 was around 0.9075x but you can see where it is now.

Since my core trading system revolves around selling the tops and buying the bottoms (especially in ranging markets). (I've long found out that I often get into trouble when I try to jump in mid-way), this is one of the useful tools in my arsenal.

Also, see the Usd/Jpy chart attached. Notice how the ATR projections might've helped one trade with precaution.

I'm not close to my storage device I'd have attached some concrete pdf materials on this but well, here is one I could locate at the moment (see link), you may pick up some points from it).

http://www.filedropper.com/tradingwithatrprojections

elewedu: bros u be institutional trader....abi that ur profit is in cents(just musing aloud)

XHTML:


You seem doing just fine with it. The indicator doesn't give you directions however, but projects a possible range in which a currency or pair can move.

There are three bands that will be displayed on the chart. The outter bands in plain black is the 100%, followed by the 70% and the mid 50% band. (or the High 1, high 2, high 3 and Low 1, Low 2, Low 3 respectively) - whichever way you like to call them.

On a conservative level, you'd want to have your TP at or a little above the 50% band level, If price breaches the 50% band towards the 70% and the band does not move along, it would indicate that momentum might be slowing down - around this point I most times take part profit, if possible (or switch to trailing stops).

If price breaches the 70% level up to the 100% band and the bands don't move along, then clearly momentum is slowing down and you'd want to be cautious about taking any new trades from that point unless you have a strong reason to (fundamental triggers and the likes).

You can see what happens in the attached chart (audusd) for example.

I got in after the support was breached, took part profit 0.90409 and closed the remainder at 0.90104 as clearly the bearish momentum was running out.

You can see that even though price surged down below the 100% band, it retracted, with price closing for the hourly candle at 0.90325. Anyone taking a further sell position below the 100% band level would be lucky to escape with no loss. When I opened the position, the Low 2 was around 0.9075x but you can see where it is now.

Since my core trading system revolves around selling the tops and buying the bottoms (especially in ranging markets). (I've long found out that I often get into trouble when I try to jump in mid-way), this is one of the useful tools in my arsenal.

Also, see the Usd/Jpy chart attached. Notice how the ATR projections might've helped one trade with precaution.

I'm not close to my storage device I'd have attached some concrete pdf materials on this but well, here is one I could locate at the moment (see link), you may pick up some points from it).

http://www.filedropper.com/tradingwithatrprojections

prowitin: just bought EJ. TILL NEXT WEEK ...

alionyinye:
der is a bearish pinbar in 4hr n 1hr on ma chart sha
just saying

Igwe OO:


Thanks bro for the insights. Reading this, its more like we share similar trading strategy (buying/selling based on resistance and support) and also, similar indicators. Also, based on what I have seen, combining the ADR and ATR would make for a profitable trade. The other thing I want to ask is, in terms of the projections/daily range by both the ADR and ATR, there seem to be a very little deviation and you wrote earlier that you adjusted the ATR to 7 days where as the ADR is for 14 days, i just want to know where I can be able to adjust it to 14 days. I only want to compare both (7days and the 14days) to see the level of deviation.

yomex_y2:

it really feels nice to have a story behind a trade i intend to take and to see the story play out the way i wanted.i have a buylimit waiting at 2/8th. for those wondering what those lines are... Google murrey math and read it up. Enjoy your weekend friends

XHTML:

Oh yes, Support/Resistance zones are key to my trading system too. Both the ATR and ADR are similar (the ATR can be applied to any TF though while the ADR gives the average range for the day only) but I don't use them both at the same time. (I think what I wrote was I adjusted the ATR to 7days, but some traders using the ATR are comfortable with 14days)

The ATR indicator I attached on my other post is modified and hard coded to show the ATR of the past 7days and the current day's range. Settings weren't really provided to easily switch the periods, but I'll try to upload a modified version of this based on 14days.

If you want something quick to glance at, you can use the default ATR on the MT4 platform, and switch the period to 14 on the daily Timeframe. The screenshot attached shows the ATR (14days) on AUD/USD at 133, (couldn't position the price label at the exact spot) while the ATR (7days) is 140.

To get the 'ATR Projection Up' (on a 14day setting), you'll simply add the 133 to the days low (i.e 0.8996) = 0.9129 (as against 0.9137 with the 7day period) and 'ATR Projection Down', subtract 133 from the day's high (i.e 0.9189)= 0.9056 (as against 0.9049 with the 7day period).

*Thought I'd add this too - The ATR (5day period) for today is 148 on this pair. Similar to what you have on your ADR indicator, right? If true, that means your ADR is calculating based on the last 5days.

iheanyiebeneze: Volatility seem to have gone out of Forex trading this few hours.

XHTML:

Nah, I wouldn't upload a chart with profit in currency, it's all in points (pips i.e).

All thanks to the bullish trend on Gold . I clung to it till I was stopped out this morning (my target was 1275.xx anyways). Strategy was same as always, move the SL along new support zones (focus on the H4 timeframe).

Indicators
-Heiken Ashi - replacing the default candles, filtered out the noise, and helped me visualize a clear trend.
-Parabolic SAR (green dots) - used this as a buy confirmation and as an exit confirmation (I have to say this is a lovely combo with the heiken ashi).
-Support/Resistance - crucial this one, since it was a bullish trend, I used this to visualize key support levels so I could move my stop loss along (and trap in the profits as I followed the trend)
-Swingpoints (red/blue arrows) - useful to get the high/lows, didn't really need this but I always have it on, incase I need to draw up a quick Fib. Line or the likes
-MACD - used this in conjuction with the parabolic (also to identify overbought levels)
-Fisher m11 (blue/red histograms in the Macd window) - had this so I could detect a change in that trend and possibly exit in time.

Little offline engagements took me away from the screen but I checked the trade a couple times daily to see how it was doing or spot a good entry point to add positions (if I got alerts).

Decided to close the trades this morning - notice the change in trend (Fisher m11) and the MACD indicating overbought levels. Moved all SLs to my target and they got closed out - 23,000pips from all 4 positions.

yomex_y2:

it really feels nice to have a story behind a trade i intend to take and to see the story play out the way i wanted.i have a buylimit waiting at 2/8th. for those wondering what those lines are... Google murrey math and read it up. Enjoy your weekend friends

FxTizzle:

Help me attach murrey math line x indicator and the settings you are using with it. What's the best time frame for the indicator

onojiwizard@gmail.com:
Forex trader try this, this weekend you will like it, you just need to register then create a free thread and you will start generating coin which you can redeem using your perfect money account it is good try it. this the link http://coingeneration.com/auth/new/296395/ it is website which host is located in califonia USA it is genuine give it a try

meshpips:
Here's what I managed to take outta the crude trade.
Meshach.

yomex_y2:

use the default. the levels are the same from 5m to daily.. key reversals happen at 2/8th,4/8th,6/8th. oversold zones happen below 0/8th, overbought zone happen above 8/8th. if price gets to -1/8th, it will reverse 75% of the time, if it gets to -2/8th level, it will reverse 95% of the time. same for +1/8 and +2/8th levels. For me , at those levels, i pay attention to price action on 4hr tf.

Read more about it,google is your friend.

yomex_y2:
8-10 segun adetiba road ,ajegunle-ilo bus stop near sango-otta off oshodi-abeokuta expressway, lagos Nigeria. i would appreciate Traders here discuss it whether its worth organizing or not. Personally, i think its worth it. we need at least 100likes for it to sail thru. Remember its iheanyiebeneze's idea, i m only adding some fire to it. voting is on page 374

As my own little contribution i will take just 1 newbie to mentor preferably a fresh graduate be it from a university, polytechnic ,college of education