Trading The Bars

[vicky_ag]

For the uninitiated in forex :

Learning material:

1. www.earnforex.com

2. www.babypips.com/school/

Cant decide which broker? Check here:

1. www.earnforex.com

2. www.babypips.com/tools/forex-brokers-guide/meet.php

Pride's Solution For Indian FX Traders Wanting To Know How To Open A FX Account Here In India

1) http://www.traderji.com/equities/28201-trading-bars.html#post393406

Indicators discussed on this thread:

1. ZigZag: Cant find any link. Please use google. Use "ZigZag forex indicator download."

2. Variable Moving average: http://www.earnforex.com/mt4_forex_indicators/Var_Mov_Avg

Rules for entry and exit:

So here we have the first post on some entry and exit rules from Savant Sir

1. http://www.traderji.com/equities/28201-trading-bars-31.html#post326865

Another gem from Savant Sir:

http://www.traderji.com/forex/28201-trading-bars.html#post555186


Note 1: Indicators being referenced here are for Metatrader 4 software and are given away with subscriptions on some brokers. So, dont ask for links to the software, rather look for a broker with MT4.

Note 2: This is something which you wont find on the learning links. It is not advisable to trade forex after 14.00 and max to max 18.00 hours (all times on GMT) on fridays. If, you enter a position and let it hang, rest assured there will be a gap and believe me when I say this, it wont be like something you saw on NSE/BSE and many a times it even wont be pretty.





PS: Please don't ask the same thing which has been posted on this page. You will be ignored.

Disclaimer: Trading forex is more dangerous than trading in Stock Markets, so think, practice and then dive in.

 

[vicky_ag]

Rules for entry:

When looking for an entry we consider 3 consecutive bars.

The left most bar will be the reverse of the position we are taking a.

The first left one is along the position we are taking. It should take out the high and low of the previous bar .

We enter at the open of the third ie new bar with SL at the low/high of the previous bar.

 

[SavantGarde]

Vicky,

Am Not Sure About NF, It Maybe An Entirely Different Ball Game For NF, Since I Don't Have RT Data, Somebody Else Will Need Confirm With Charts Whether It Is Feasible For NF Or Not, Forex I Trade This Pattern So I Know It Works.

Happy & Safer Trading

SavantGarde

 

[vicky_ag]

Savant Sir, I think it might work on NF if we consider the 60 TF. Anyhow, removed the description.
Currently Long on EUR/GBP, EUR/JPY and USD/JPy on 30 min TF.Please confirm.

Vicky,

Am Not Sure About NF, It Maybe An Entirely Different Ball Game For NF, Since I Don't Have RT Data, Somebody Else Will Need Confirm With Charts Whether It Is Feasible For NF Or Not, Forex I Trade This Pattern So I Know It Works.

Happy & Safer Trading

SavantGarde

 

[SavantGarde]

All Three Looks Good On 60 Min, Try & Avoid 30 Min If Market Is Volatile You Can Get Whipsawed.

Dollar/Yen Cross Looks Good For Overnight

Happy & Safe Trading

SavantGarde

Savant Sir, I think it might work on NF if we consider the 60 TF. Anyhow, removed the description.
Currently Long on EUR/GBP, EUR/JPY and USD/JPy on 30 min TF.Please confirm.

 

[SavantGarde]

Vicky,

Never Said That It May Not Work On NF, Just That I Don't Have RT Data To Confirm, & Moreover 60 Min Is Big Time Frame For NF, Considering Market Timings.

Happy & Safer Trading

SavantGarde

Savant Sir, I think it might work on NF if we consider the 60 TF. Anyhow, removed the description.
Currently Long on EUR/GBP, EUR/JPY and USD/JPy on 30 min TF.Please confirm.

 

[vicky_ag]

Savant Sir,
The trades dint go too well. Maybe cause I entered on the wrong TF of 30 mins and got whipsawed.
Even the USD/Yen was a complete whitewash.

 

[Capricorn]

Thats okay mate, nothing works all the time. Better luck next time.

 

[vicky_ag]

I am aware of that. The last post was a rhetorical question to Savant Sir. I meant is : did I do anything wrong , as the trade was lined very well, especiall for USD/JPY cross.

Thats okay mate, nothing works all the time. Better luck next time.

 

[SavantGarde]

Hi Vicky,

For Overnight Positions One Needs To Be Extra Careful About The 'Silent Period' After U.S. Markets Close Till Far East Markets Start, Especially When Japanese Markets Start.

It Is Better To Follow The 60 Min TF, We Did Get A Confirmation Of That @ 98.78 & The Previous Bar's High Being The S/L, As Soon As The News Was Out Japan's Import & Export Were Down In The Month Of March, Thereafter It Has Not Recovered....Till Now....Check The 60 Min TF


Happy & Safer Trading

SavantGarde