I do, however, disagree with your sentiment about people on forums not there to help others out. The eSignal approach is to take only the easily applicable Gann techniques, improve them, add concepts. The largest move are made by the 'sure moneys'.
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New traders seem to shun at the words of 'long term trading' but what they don't know is that long term trading provides the best r: But they want the action now, today, everyday. There is so much more to say but I also know that for now there is unfortunately nothing more I could say. From what I am gathering, it seems best for new traders to focus on longer time frames as opposed to shorter ones in order to avoid whipsaws and higher volatility produced by those shorter time frames.
I was thinking of, perhaps, combining the Heiken Ashi with regular candles on two separate charts to see momentum combined with normal price action. I am thinking that this combination can help prevent whipsaws while staying in trends longer as we can use the regular candles and chart formations to identify proper entries while using Heiken Ashi as confirmations and to ride trends out.
As for riding on the coattails of big money, I am not quite sure how exactly to do that at this point besides staying in tune with the news and trying to identify big moves or breakouts in the market. But I will keep what you said in mind, Lex, and research and observe Bank of Japan and its immediate influence over the movement of the Yen. If anyone else has any other ideas or a better way to implement Heiken Ashi, I would love to hear your thoughts.
I am glad you like Rey Mysterio. Unfortunately I can't post any links since I don't have enough posts and I am unable to upload my indicators either. Also if you go to page six of the thread started by topchess called "This is not a Holy Grail Simple Method ", you will find the other indicator I used. This system will be best in the trending markets but i suggest you to use a higher time frame otherwise broker's spread would kill your account.
Id have to agree with LexKim that you cant allways believe what posters say I supose we could have a rough idea by the amount of posts theyve made. Hi CodeMeister do you think Heiken ashi candles are a waste of time? I found them the other day they seem to give a lot of false signals I thought. As for Heiken Ashi, from what I have researched, they seem to be very promising. However, like you said, they give a lot of false signals since they don't show pure price action which is why they can't be used alone.
But they do a good job of showing the momentum of a trend which is why I think a system with some sort of Heiken Ashi combination can be a good one. I certainly wouldent dismiss your system rb its great you shared it with us,as traders we need all the help we can get especially me,thanks for that: Like I said earlier, I am open to any and all suggestions.
I am a newbie as well and the way I look at it the system is a work in progress. So if anyone can provide suggestions to improve upon it or simplify it, I am more than open to them.
I believe that it is a good idea for new traders and experienced ones alike to share ideas as I believe that we can work together to help each other become successful. Yes i have a little experience with Heikin ashi and a very good experience with Gann-Hilo activator. Basically Gann-Hilo activator is the moving average of highs of x candlesticks in a downtrend thus providing resistance for the price and the moving average of lows of candlestick for the x number of candlestick where x is the variable which is set as a period of Gann-Hilo activator.
Gann-Hilo activator works best in the trending market but when it comes to giving whipsaws in consolidation it can cause a large number of fake outs losing your confidence but i recommend you sticking with the trend and your rules,no matter what happens.
Heikin-Ashi candlestick were also made for the trend traders and they are very useful to remove the noise from the market and thus giving you a better confidence to stick with your system. I would recommend 30M or 1H time frame to use this system and make sure that you have adjusted it's period already according to your trading style.
Professionals of the field do not mingle with others in a public forum. They network separately in real world and not on internet. They know that they wont be taken a fool and the other person wont do a runner. The real new traders. They are still courtesy and just like a new puppy, they run around alot from thread to thread. Excited at all these avenues to make money and finally tell their boss "up yours".
The disgruntled ex-trader suffering from delusions of grandeur. They spend more time lapping up the attention from the new traders. They focus more on post count of this forum, status super-duper contributor levels than trading itself. Infact they hardly trade at all. These are the dangerous kind. They do not think about the risk they are putting other traders in.
Some new traders lose alot of money and few lose everything to these scammers. But I guess that is all part of the wheel of fortune.
Btw, they are easily noticeable as all their post is a general statement that fits into any purposes, just like saying "yes you will most likely sleep tonight". The battle hardened tough warrior. Rambo did take advice from others earlier on, lost few live accounts, luckily held onto his job while getting his things straight. And one day it just clicks like that. These battle hardened warriors do not return to forums to help others because they know they are not worth the fruit of his labor.
Hence, they simply just disappear while the remaining people on the forum continue the 'blind leading the blind'. I am little different. I was fortunate enough to be introduced to this game professionally from the start. It is only recent days do I find myself adventuring around forums, partly from curiosity and amusement.
Trading is an act of solitude. Everyone is seemingly willing to help you but infact no one really can. As for H-candles, it is usually one of the first step of indicator chosen from new traders because of the visual aesthetics of things. When reach the level of a hardened warrior, you will look back and think "I didnt even need it". Until then you will hate me for bursting your bubble. Some professionals take note of the opening price 2 hours before london open and swear by it.
They are successful because they are usually trading the open range breakout or inside bar breakout and then holding the position as a form of continuation on higher timeframe; daily, weekly or some type of long term trailing stop or even time based exits. I and the rest of the members of my IB group in real world take note the price 1 hour after the london open. We watch the range form and take buy or sell when price moves 25 pips including spread into a direction.
However we do analysis and choose the pairs with the most potential just before the london open. Just about to click post reply and I feel like the class idiot and one of the most reluctant trader. But then again all this will fall deaf ears to most. And with some cynical content I hope it does because no one deserves what I just gave out. The smart ones will take the above into account but within the grounds of 'trust but confirm' and they will be able to expand on what I have just given out.
These traders are the ones that has the most potential to succeed. Wow LexKim not sure what to make of this,how do we know your not one of the people you talk of though. A lot of what you say rings true and is a bit depressing really: I must say what youv writen probably wouldent have been said by a keen newbie.
I like what you said about trading before and after the London open,food for thought thats for sure. Wnen you talk of H candles are you meaning 1hour candeles or heiken ashi candles?
Thanks for your breakdowns JJ. I feel like I am getting a better understanding on how to use Gann hilo and Heiken Ashi. Also appreciate your brutal honestly Lex. I have had some fairly good success doing some open-range breakout trading with stocks in the past, however the forex market is a completely new field for me.
The problem that I have encountered with stocks is that it is difficult to find the stocks with the right setups given the number of stocks out there. Also having only 6. Also I like the continuity that the forex market presents.
With stocks, their trend tends to reset everyday especially lately and don't seem as easily identifiable as in forex. Then again this is all speculation on my part as I do not have experience with forex.
I am going to look into what you said about the London session and really appreciate you sharing this information with us. I understand that you didn't have to do this but your contributions with professional insight definitely helps us new traders.
I do, however, disagree with your sentiment about people on forums not there to help others out. I have founds quite a few good traders out there helping others out on forums. The tricky part is finding them as there are, like you said, a lot of phonies out there who lead newbies in the wrong direction. Gann High Low Activator. This is a simple tool for intraday traders to generate instant trades. Mt4 Forex Indicators Archive. Free Forex Indicators - donkeyidea.
The ADX indicator measures the strength of a trend and can be useful to determine if a trend is strong or weak. Introduccion al Gann HiLo. Estrategia de forex - Bolly Band Bounce. Listing Trading Indicators and Formulas Page Best megacollection Forex and Binary robots,.
Forex Tester 3 Forum. Could anybody please convert those three indicators from MT4 to use them on Forex Tester?. The Gann Hi Lo Activator is a fancy name for a simple moving average channel of the highs and lows.
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