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Author Topic: TA Forex Trading  (Read 11785 times)

Heavyweight

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Re: TA Forex Trading
« Reply #3450 on: July 26, 2017, 02:32:31 pm »
Yep, that's the way to do it Heavy. I was born at night...but not last night...LOL!

After a I blew up a few accounts in the old days, I started keeping secondary accounts where I could trade the other direction. Each week or so, I'll take profits out of the winning accounts and shuffle them over so I can take additional positions on the drawdown accounts and keep things flowing nicely so the percentage of drawdown doesn't waver much. Wash, rinse, and repeat. Works like a charm.
You know I tried that a few yrs ago and still actually have a primary and sub account but when I tried hedging pairs I would see one pair stall and the other tank as I got away from it. I have a much better understanding of things now though so I may need to jump back in that strategy.

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Pennies2007

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Re: TA Forex Trading
« Reply #3451 on: July 26, 2017, 02:32:37 pm »
EU 4 Hour Chart


javalin

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Re: TA Forex Trading
« Reply #3452 on: July 26, 2017, 02:39:51 pm »
Pennies i gotta try that hedge system-why not have tried everything else lol

Pennies2007

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Re: TA Forex Trading
« Reply #3453 on: July 26, 2017, 02:47:22 pm »
On a side note, the EA robot is still running. It's up 1.88% total since starting it last Monday.

Slow and steady...

https://www.myfxbook.com/members/nettechs/breakout/2184811

Heavyweight

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Re: TA Forex Trading
« Reply #3454 on: July 26, 2017, 02:49:23 pm »
Pennies i gotta try that hedge system-why not have tried everything else lol
Jav pennies has been holding out on us. I guess you can't teach the student everything or he becomes smarter than the teacher.

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Pennies2007

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Re: TA Forex Trading
« Reply #3455 on: July 26, 2017, 03:06:59 pm »
NU Weekly Chart

Same chart I posted several days ago. Direct hit on the zone.


Pennies2007

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Re: TA Forex Trading
« Reply #3456 on: July 26, 2017, 05:10:57 pm »
A few years ago, I was playing around with the box method based on a fib box system that Simplegreen brought to IHUB.

During testing, I often found that 3 boxes was about as far as the market could push a particular pair in any given direction without a retrace.

The basic rule was that once the 3rd box got hit, the price would retrace back to the 1st box level again.

EU is basically there. Can't rule out a bit more topside but it's pretty limited from these levels.

EU 4 Hour Chart...


javalin

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Re: TA Forex Trading
« Reply #3457 on: July 26, 2017, 06:13:20 pm »
Yep Heavy--he's been holding out on that hedge thingy lol

Heavyweight

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Re: TA Forex Trading
« Reply #3458 on: July 26, 2017, 07:43:43 pm »
A few years ago, I was playing around with the box method based on a fib box system that Simplegreen brought to IHUB.

During testing, I often found that 3 boxes was about as far as the market could push a particular pair in any given direction without a retrace.

The basic rule was that once the 3rd box got hit, the price would retrace back to the 1st box level again.

EU is basically there. Can't rule out a bit more topside but it's pretty limited from these levels.

EU 4 Hour Chart...
To add to that pennies, after the initial breakout of the box if price fails to reach the target level it usually falls back through the original box and out of the other side.

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Pennies2007

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Re: TA Forex Trading
« Reply #3459 on: July 26, 2017, 07:44:27 pm »
Yes, very true Heavy.

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javalin

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Re: TA Forex Trading
« Reply #3460 on: July 26, 2017, 10:26:20 pm »
Pennies can you explain again how we drew the first box-

Pennies2007

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Re: TA Forex Trading
« Reply #3461 on: July 27, 2017, 09:24:08 am »
Pennies can you explain again how we drew the first box-

Sure thing Jav. Here's the basic rule for drawing the boxes that I've found to be the best.

The chart has all of the notes on it. Once in a blue moon you will find a pair that travels to the 4th box. The idea is to take your first small short at the 3rd box outside level. Set TP for the 1st box top. (Reverse the process for longs.) So always be ready to add a position in case the pair moves to a 4th box level.

I always lay out these boxes on the daily time frames because they're more accurate that way. The setup can be used on smaller time frames as well but there's more noise on the lower time frames so I don't tend to use those as much.

Here's an example on the AU daily chart...


Pennies2007

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Re: TA Forex Trading
« Reply #3462 on: July 27, 2017, 09:38:03 am »
Here's another example, Jav. The UJ daily chart.

From the absolute highs, price broke down below the 1st box. It ran to almost the bottom end of the 3rd box. Then, price reversed and came back to retest the bottom of the 1st box again.

The reason we see these types of patterns is because, contrary to popular belief, the market is not random. Price movement is psychological and, just like our bodies all the way down to the cellular level, everything runs according to a basic mathematical system. Think of it as an algorithm.

That's why I'm very fond of using fib expansion levels rather than plain fib retracements. Remember when Git was programming MT4 code on the board at IHUB? He was constantly working with math based rules to try to figure out the market movements using Gann theory, ZUP math patterns, etc.

But Gann theory, at least to me, is too complex to be of any use to the everyday trader. I settled instead for a slimmed-down version that relies on fib expansion levels and 100% extension runs, like the box method. I applied that to my TDI wave counting method and I started seeing much better results as a whole.

UJ daily chart example...


Pennies2007

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Re: TA Forex Trading
« Reply #3463 on: July 27, 2017, 10:41:11 am »
Risk pairs seem to be falling apart nicely out of those daily and weekly zones that were hit yesterday and last night.

Go baby go!

javalin

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Re: TA Forex Trading
« Reply #3464 on: July 27, 2017, 12:42:48 pm »
Pennies tks for the box info--after my computer crash-i lost fib levels that you and simple used -Boxlevel 1 etc --do you have those levels

 

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TA Forex Trading by Heavyweight
September 30, 2018, 11:48:51 pm