"....any signals for today?????? nick: in 5 or six hours. In the meantime here they are as of 10:30 A.M (PST) Watch the Pound vs the dollar, by tonight we may (or may not ) get the buy signal for the ride. Best! mF
mF, Thanks for the informative thread. Questions for you: what time of day are you looking at price action & indicators to make your trading decisions? Is it throughout the day or at a set time--say, after 5 pm, for example? Thanks for sharing your efforts & best regards. MCC
Quote from MCCTrader: Thanks for the informative thread. Questions for you: what time of day are you looking at price action & indicators to make your trading decisions? Is it throughout the day or at a set time--say, after 5 pm, for example? Thanks for sharing your efforts & best regards. MCC ____________________________ 1. For posting the signals the time window is between 5:00 - 7:00 P.M. (PST) California Time. When in town. When traveling as soon as I get internet connection. 2. For trading: PM or evenings (PST). Mostly looking at the charts since the signals do not come that often. Mornings 6:00 AM - Noon (PST) I may glance at them but do not enter any trades. Busy trading DOW Stocks. Stops are in place (ussually 100 pips) when sleeping or during the morning while trading stocks. Thank you for visiting. Best! mF
Quote from mF: 2. For trading: PM or evenings (PST). Mostly looking at the charts since the signals do not come that often. Mornings 6:00 AM - Noon (PST) I may glance at them but do not enter any trades. Busy trading DOW Stocks. Stops are in place (ussually 100 pips) when sleeping or during the morning while trading stocks. ____________________ Thanks for your reply, mF. I've got a follow-up question for you: When you're looking at the charts, you've said you use the DAILY bars (or candles). Do you ever use a lesser bars (say, hourly) or a greater bars (weekly, monthly) to make your FX assessments? If so, how do you manage that without getting info overload--or your whole day frittered away? Thanks for any thoughts on this. Best regards, MCCTrader
Quote from MCCTrader: "I've got a follow-up question for you: When you're looking at the charts, you've said you use the DAILY bars (or candles). Do you ever use a lesser bars (say, hourly) or a greater bars (weekly, monthly) to make your FX assessments? If so, how do you manage that without getting info overload--or your whole day frittered away? Thanks for any thoughts on this. Best regards, MCCTrader ________________________________ Hi MCCT! 1. Yes, I use Daily (24 hr.) Candles. 2. I did use lesser bars before and I tried them in actual trading. I.E. 1 HOUR and 4HOURS bars. I was intrigued last year by the well known Vegas tunnel method and I got decent results. After trading with the 1 hr. I found his 4r and switched to that one. Used stops and fibonacci levels for targets. The problem is that I was losing sleep, waking up at all hours of the night to see if the stops were taken or if the fibonacci targets were hit. Finally i switched to the DAILY bars (a misnomer since actually they are 24 hours), and use the classic MACD and Williams %R (explained many times in this thread). It's working fine. Cannot believe it: good sleep now and relaxed trading. Since the aim is to ride a short part of the move, positions are hardly stopped. 3. Decisions for entry and exit are based solely on the DAILY time frame. No input from Hourly, weekly, etc. set ups. It will be confusing, I think, and if the trade went against I will hold to look for the other time frames to justify holding losing positions. 4. The posting of signals on this thread is for illustration purposes only, since trading FOREX is really a risky endeavor. However I want to convey few things, mainly, that there is no need to reinvent the wheel: classic studies applied to price indeed do work. There is no need to buy expensive and confusing software to trade FOREX even if they call it "made easy". There is no need to spend $ 5,000.00 for a so called "boot camp" to learn Forex. There is no need to pay monthly fees to "buy" signals. If I can produce this signals anybody can. The beauty of this thread is that there is no "back testing" involved. These are real and live signals, whether they are right or wrong. So any body could go back weeks, months, and see for yourself how you could have done had you entered these trades. I have to do this signals for myself every day anyhow. Sharing them on this thread only takes few extra clicks Best! mF