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DislikedOut of all of those arrows, 6 out of 7 looks like false indicators, or am I wrong?
And on the last one, the lags don't look like they should be when you would normally buy.Ignored
DislikedI use MT4 for the charts, but I use my broker's software (MBT Navigator) to actually place orders. It's kind of redundant since you can place orders through MT4, but I have MT4 on 1 screen and my broker on another screen so it's just as easy.Ignored
Disliked1-5 pips, usually 2 or 3. Right now it's 2 pips.
However, they do take a $1 comission per mini lot (basically 1 pip) on both ends.
So if the spread is 2 pips, it's more like 4 pips after comission. Still not bad at all. They have 1 pip spreads for almost everything else.Ignored
DislikedLorellei, MT4 has Trailing Stops.
Right click a pending order or active trade and select Trailing Stop. Minimum is 15 pips.
Note that it is managed on your PC and not sent to the broker. If you close the platform, you lose it.Ignored
DislikedOut of all of those arrows, 6 out of 7 looks like false indicators, or am I wrong?
And on the last one, the lags don't look like they should be when you would normally buy.Ignored
DislikedSorry to bug you with so many posts Imrain...
Can you take a look at this chart? I didn't act on this, but could this be a false sell indication? I RARELY see a false indicator with your lag setup, but isn't this a valid sell?
While I'm sure this will EVENTUALLY go in the downward direction, if you put in a sell order based on that indicator with a 15 pip s/l you would have been stopped out in 5 minutes without it ever moving 1 pip in the right direction.
I still have faith in the lags -- I know nothing is perfect -- but that kind of scared me.
The only reason I didn't trade that was because lag 1 wasn't pinned at the top (horizontal at top) before coming down below 0.85. Should that be a requirement? If so, this wasn't really a false indicator, but I wasn't sure.Ignored
DislikedImran, fundamental question: do you use your strategy manually or have any robot for it?Ignored
Dislikedthat would have been a very good trade if u had taken it, as long as the blue lag is moving down and the red lag is also at the top...then it can be a trade but if the red lag also follows down then it will be the icing in the cake, can expect 30-50 pips movement if both red and blue lag are below 0.85Ignored
DislikedUhh, if I had taken that trade I would have immediately hit my stop loss and lost 15 pips. How would that have been good? Didn't you see the chart? Even now, an hour later, it still hasn't moved in a negative direction after that indication.
I'm kind of confused by your response.
I understand that normally yo ucould expect 30-50 pips movement, but in that particular instance that didn't happen and still hasn't.Ignored
DislikedHere's another question that might help some other people.
Look at the very end of the first chart. Is this a valid SELL signal or does the red lag need to be above .45 when pointing down?
I didn't take this trade because I assumed it had to be above .45 and pointing down (ideally coming down past .85 from the top).
Then, look at the 2nd chart, just a few minutes later. Is this a valid BUY signal? It sure looked like it to me, but I wasn't sure. I was going to take it but figured I'd ask fist. (This ended up being an easy 11 pips in 4 mins that I didn't take...oh well )Ignored
Dislikedas per the chart, ur entry would have been around 237.40 area, am i right, and since its a big day today...the movements are very slow..that may be the reason it has not fallen yet, its ranging between 237.10 and 237.50, we will see a breakout today after NFP newsIgnored
DislikedIf you look at the chart again, my entry wouldn't have been at 237.40. The sell signal came at about 237.25, then 5 minutes later it went up to 237.48, which would have triggered my S/L.
I've marked up my chart even more to further illustrate this.
Technically, if I had a 0 second reaction time, yes, I could have gotten in much higher. But in reality, just about 30 seconds after the lag 1 broke 0.85 the price was at 237.25 or so.
So I gues technically this isn't a false signal then after looking at it closer...but at the time of that huge downward candle the lag was still drawing / repainting. It wasn't until after that candle that it was a CLEAR sell signal, at which point, I would have been screwed if I got in. Very tricky...Ignored