+109 this week. Have been using the boxes as a guide to price action. Thanks to all that have been sharing the ins and outs of it.
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DislikedFresh ..does this mean no previous TL ,SR on H4 Monday LO, just draw in previous weeks WP or perhaps completely clean chart with notes of previous action ..no worries i could leave all that stuff on my other charts.
Have a wonderful weekend.. All of youIgnored
DislikedLooks like most of the price traders have gotten out, give us a tally for the week if you wouldn't mind please.Ignored
Disliked...
Another way of looking at it is if you had 10k in your account and only trade 1/2 lot at a time it generates an income of 100k a year.Ignored
DislikedAlways keep your TL's and SR's on it for next week, until price tells you other ones have formed. What I meant was that the LO needs to coincide with a new H4 bar to trade Cable effectively, Cable volume is roughly 70% centered around London. As FX trading overall, London is responsible for 1/2 the worlds volume with NY about 1/8Ignored
DislikedRight ..got it.. new H4 bar and LO to coincide..i'm seing in abstract at the mo. but this is obviously invaluable guidance for getting them set up properly..thanks again Cloggs... i might just get potty trained at this rate..Ignored
DislikedYou have probably also realised that you only take between 2-4 trades a day, while previously you had days with 20-30 trades, so you pay a lot less in commissions. And your r/r ratio should be well above 1:5 and your win/loss should be over 75. Just wait till you see your 1,000 pip week, it will happen.
Trading is still the best business in the world, the last bastion of true capitalism.Ignored
Dislikedcan't agree more cloggie. the issue is you have different charts for 4hr candles, one is set with ESt time zones (17/21/1/5/9/13 hr) and other is set with GMT time zone (0/4/8/12/16/20 hr) I did use both for past 2 years but if you consider a trading day starts at EST 17:00, it makes more sense using EST one, I did & result is better. a personal preference & suggestion.Ignored
DislikedI just installed this one .. time is the same as my forex.com. I think maybe it feeds different times to US customers...
So far cannot find one aligned with LO.Ignored
DislikedSo far still can't find the right feed .. will try FXCM UK next (if they let me use their UK version). Maybe I could give my address as UK.... I still remember the one we had thereIgnored
DislikedLining up your trading with 1700 EST lines up your charts with 1/8 of the world market while lining up your charts with London lines you up with 1/2 the world market. Every US bank worth their salt uses London as a base for currency trading, ones that don't have a London base open up their trading floor to coincide with London.
It is purely personal but I want to see the same chart that a majority of the big boys use. The 1700 EST is a purely historical one as retail FX started in the US and it has no bearing on Institutional FX.
So the question...Ignored
Dislikedas you said, it's a personal choice. at the end of the day, whichever makes money. to be honest, I did work with both for a few months each, EST works better for me. you can demo the EST & check if it helps at all. cheersIgnored
DislikedAre you saying that the time in market watch is not london time? I live in panama, which is CST and on my demo it shows london time with the first 4h bar opening at 8:00 GMT...Ignored
DislikedI'm not sure in pips but about +15% this week, fubar'd a few times so could have been better if i'd kept my head straight. Something to work on for next week. I just lurk here but want to say thanks to cloggie & 4x for helping to open my eyes to things i'd been blind to, I already feel i'm starting to understand it a bit more & turn a corner.
Have a great weekend everyoneIgnored
DislikedThey will let you use their platform. I have an FXCM UK account and live in the US. I actually used their demo MT4 for about a year before I opened my live account with them.Ignored