Forex from scratch --a helping hand from pipshower...

vicky_ag · #**351** 9th February 2010, 12:49 AM

Quote:

Originally Posted by pipshower

Hello Everyone,
whats going on VICKY and SUSHANT?
We are not here to fight ... This life is too small to waste our valuable time fighting...
So dont do it..Every thing has two sides just like markets up or down ..{third one is sideways ..aka neutral..

}

So i would say both of you are good contributors over traderji and i highly respect that ..Dont fight and keep contributing..keep the debate healthy on topic and not fierce to personal level..
Make friends not enemies!

I humbly request you to get Get back to trading! and keep contributing the healthy way !

Keep rocking!

Regards
Pipshower

Pip

Totally endorse your views.

Any luck on reading the order flow?

pipshower · #**352** 12th February 2010, 08:49 AM

Quote:

Originally Posted by vicky_ag

Pip

Totally endorse your views.

Any luck on reading the order flow?

Hello Vicky,
About order flow ,
let me explain what my view is on it..
Order flow trading is best why? because thats what moves the price...
But do we have access to that data of orders or all orderbooks?
Heck no..

So cant we trade it...? We can..

The order flow is clearly visible on chart..S&R are zones of supply and demand and thats where the orderflow is..
If you want to trade stress free you can clearly go to weekly, monthly charts plot those levels of Supply and demand and trade of them and be successful because thats what actual orderfow trading is atleast for me as a retail trader..

Actually once you have a better understandind of supply and demand you can trade any timeframe for profits..

Thats what i can tell you abt orderflow trading in my own perspective..
Opinions may differ but this is what makes my bread and butter!

Regards
Pipshower

MDunleavy · #**353** 16th February 2010, 03:59 PM

CADJPY=USDJPY:CADJPY
---------------------
JPY
Unbelievably slow work, with relatively small daily ranges suggesting a lot of uncertainty at current prices. The Yen is consolidating in the middle of a decent-sized flat-bottomed daily Ichimoku 'cloud'. Fibonacci retracement support at the 61% level will probably limit the downside this week (and maybe the following one too) with prices hopefully holding under the 26-day moving average at 90.62 today. Apart from the 'cloud' all other elements of this chart suggest a short position, and note that the Lagging Span will encounter resistance from the candles next week. The US dollar is not in the least bit oversold against the yen and momentum is neutral. Futures volume is well down on the previous week and open interest too.[Written by Mizuho Corporate Bank]
CAD
The gradual descend that the pair is achieving in attempt to touch the awaited pivotal support at 1.0410, accompanied by momentum indicators entering oversold areas which support our previous expectations heading towards an expected bullish intraday that might require a base to be built on mentioned support before achieving the target for the awaited bullish direction that start at 1.0565 then 1.0650. These expectations require the four hour closing to be above 1.0410 to prevail.[Written by ecPulse.com]

"P&F CADJPY1440 Box Size 180X3 or(5.51%) CLOSE
Data 125.09 - 70.85 ~ 59 Month ~ 1785 Day
Database 1278 records 85.809 (Last Close)
2005-03-29 00~00
2010-02-16 00~00 (GMT+01:00) Paris
BJF Trading Group chart"

126.0|~18O||______________________________________ |-0.73%|77.84%
124.2|~36O||____________X_________________________ |0.71%|75.3%
122.4|~54O||____________Xo________________________ |2.15%|72.76%
120.6|~72O||____________Xo________________________ |3.59%|70.22%
118.8|~9OO||____________Xo________________________ |5.03%|67.68%
117.0|~1O8O|__________X_Xo________________________ |6.47%|65.14%
115.2|~126O|__________XoXoX_______________________ |7.91%|62.6%
113.4|~144O|__________XoXoXo______________________ |9.35%|60.06%
111.6|~162O|__________XoXoXo______________________ |10.78%|57.52%
109.8|~18OO|__________XoXoXo______________________ |12.22%|54.98%
108.0|~198O|__________XoXo_oX_____________________ |13.66%|52.43%
106.2|~216O|______X___Xo___oXoX___________________ |15.1%|49.89%
104.4|~234O|__X___XoX_X____oXoXo__________________ |16.54%|47.35%
102.6|~252O|__XoX_XoXoX____oXoXoX_________________ |17.98%|44.81%
100.8|~27OO|__XoXoXoXoX____o_oXoXo________________ |19.42%|42.27%
99.00|~288O|__XoXoXo_oX______oXoXo________________ |20.86%|39.73%
97.20|~3O6O|__Xo_o___o_______oXo_o________________ |22.3%|37.19%
95.40|~324O|__X______________o___o________________ |23.73%|34.65%
93.60|~342O|__X__________________o________________ |25.17%|32.11%
91.80|~36OO|__X__________________o________________ |26.61%|29.57%
90.00|~378O|==X==================o==========X===X= |28.05%|27.03%
88.20|~396O|__X__________________o________X_Xo__Xo |29.49%|24.49%
86.40|~414O|_oX__________________oX_______XoXoX_Xo |30.93%|21.95%
84.60|~432O|_oX__________________oXo____X_XoXoXoXo |32.37%|19.41%
82.80|~45OO|_o___________________oXo____XoXoXoXoXo |33.81%|16.87%
81.00|~468O|=====================oXo====XoXoXo=o== |35.25%|14.33%
79.20|~486O|_____________________oXo____Xo_o______ |36.69%|11.79%
77.40|~5O4O|_____________________oXoX_X_X_________ |38.12%|9.24%
75.60|~522O|_____________________oXoXoXoX_________ |39.56%|6.7%
73.80|~54OO|_____________________oXoXoXoX_________ |41%|4.16%
72.00|~558O|_____________________oXo_o_oX_________ |42.44%|1.62%
70.20|~576O|_____________________o_____o__________ |43.88%|-0.92%
Column||||||O3143354341619484765319833348355653354 |
Count|||||||__2_______1_O________8________________ |

BJF-Trading-Group_Excel_Chart

MDunleavy · #**354** 21st March 2010, 02:52 PM

A week of risk appetite has benefitted commodity dollars and sunk the yen as the carry trade takes center stage. Optimism is showing signs of fading as markets take inventory of current valuations in light in the anniversary on the 2009 bottom. Prices may have outpaced underlining fundamentals which could lead to a retracement of risky assets which would set up the CAD/JPY for a failed test of the upper bound of the current range.

"P&F CADJPY1440 Box Size1 80X3 or(5.51%) HI/LO
Data 125.09 - 70.85 ~ 92 Month ~ 2796 Day
Database 2000 records 88.962 (Last Close)
2002-07-23 00~00
2010-03-19 00~00 (GMT+01:00) Paris
BJF Trading Group chart"

126.0|~18O||______________________________________ _|-0.73%|77.84%
124.2|~36O||____________X_________________________ _|0.71%|75.3%
122.4|~54O||____________Xo________________________ _|2.15%|72.76%
120.6|~72O||____________Xo________________________ _|3.59%|70.22%
118.8|~9OO||____________Xo________________________ _|5.03%|67.68%
117.0|~1O8O|__________X_Xo________________________ _|6.47%|65.14%
115.2|~126O|__________XoXoX_______________________ _|7.91%|62.6%
113.4|~144O|__________XoXoXo______________________ _|9.35%|60.06%
111.6|~162O|__________XoXoXo______________________ _|10.78%|57.52%
109.8|~18OO|__________XoXoXo______________________ _|12.22%|54.98%
108.0|~198O|__________XoXo_oX_____________________ _|13.66%|52.43%
106.2|~216O|________X_XoX__oXoX___________________ _|15.1%|49.89%
104.4|~234O|______X_XoXo___oXoXo__________________ _|16.54%|47.35%
102.6|~252O|______XoXoX____o_oXoX_________________ _|17.98%|44.81%
100.8|~27OO|______XoXoX______oXoXo________________ _|19.42%|42.27%
99.00|~288O|______XoXo_______oXoXo________________ _|20.86%|39.73%
97.20|~3O6O|______Xo_________o_o_o________________ _|22.3%|37.19%
95.40|~324O|______X______________o________________ _|23.73%|34.65%
93.60|~342O|______X______________o________________ _|25.17%|32.11%
91.80|~36OO|______X______________o________________ _|26.61%|29.57%
90.00|~378O|======X==============oX=========X===X= X|28.05%|27.03%
88.20|~396O|X___X_X______________oXo______X_XoX_Xo X|29.49%|24.49%
86.40|~414O|Xo__XoX______________oXoX_____XoXoXoXo X|30.93%|21.95%
84.60|~432O|XoX_XoX______________oXoXo____XoXoXoXo X|32.37%|19.41%
82.80|~45OO|XoXoXo_______________o_oXo____XoXoXoXo _|33.81%|16.87%
81.00|~468O|XoXoX==================oXo====XoXo=o== =|35.25%|14.33%
79.20|~486O|Xo_o___________________oXoX_X_Xo______ _|36.69%|11.79%
77.40|~5O4O|X______________________oXoXoXoX_______ _|38.12%|9.24%
75.60|~522O|X______________________oXoXoXoX_______ _|39.56%|6.7%
73.80|~54OO|_______________________oXo_oXoX_______ _|41%|4.16%
72.00|~558O|_______________________o___o_oX_______ _|42.44%|1.62%
70.20|~576O|_____________________________o________ _|43.88%|-0.92%
Column||||||85335314541719473655314187344515654454 4|
Count|||||||______2___O_1________1_O______O_______ _|

BJF-Trading-Group_Excel_Chart

maidass · #**355** 29th June 2010, 09:54 AM

Hi all. I have a serious doubt on putting SL for day trading. Yesterday after analysing 1H, 4H and daily charts and after going thru an advice on babypips (for bpu/usd and eur/usd), i was sure pbu/usd will go up n eur/usd will nose dive. When i started trading at 6 in the mng, i started buying pbu and selling eur (.05 lot) with SL of 50 pips. I lost 9 trades non-stop. Then i reduced the lot to .01, removed SL and started trading. When i had SL, I was down by 26 form 3000$ (Alpari demo account). After i reduced trading lot and removed Sl, by 6 in the evening i was up to 3650 from 2974. Can the seniors advice me how do i put SL, if want to day trade with few sclaping in between. Thanks in advance. Its not important what you do ... till the time you know the importance of doing it.

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