FOREX currency trading

[liljp361]

anywhere i could paper trade forex other than the site in the op?

many, pretty much any fx broker has free paper trading

http://www.tradersway.com/

 

[liljp361]

Yeah that one didn't work out there. Usually price is only manipulated once past a solid bottom or top to take out stops, it was taken out about 4 times here.

 

[Hank Scorpio]

Want some advice on FOREX? Don't sleep

 

[liljp361]

Want some advice on FOREX? Don't sleep

lol

 

[onthenephs]

Not sleeping >> waking up at 7am :x

Respect for the knowledge in here that babypips site is cool.

Any books out there that can prepare those interested more? I like the internet but books>.

I just finished the complete turtle trader, and the little book of trading. Both my Michael cowvell. I chose those books specifically because they deal with trends and quick systems which I think forex relates to quite well.

 

[i lax bro]

Involved with forex in a group at school, and we traded every four hours mon-fri till 5pm obiouvsly. Trading at 5 AM when you have class in four hours really blew... Did mad research into what we were going to buy. AUD/USD had like three weeks of prep before we went in long

 

[moe0]

i did a few usd/yen trading. picked up them pips was good!

 

[liljp361]

If anyone wants to discuss Forex or start a skype trading group feel free to add me from here:

jayfx7

 

[liljp361]

USD should be the big mover this morning. this is on 15m usdjpy, just a 5 pip stop, gonna see if this holds up

View media item 1083227

 

[liljp361]

stop loss hit, i think i'll stop trying to trade tops and bottoms for reversals, it's not usually what i look for

 

[liljp361]

plus I don't like getting caught up in the very manipulated areas. I'll post better looking setups.

 

[liljp361]

I'll be posting my chart template and indicators used.

 

[liljp361]

[ATTACHMENT=7434]indicators.zip (139k. zip file)[/ATTACHMENT]

If you don't know where these go, open your mt4 platform, click file > open data folder

Place the .tpl file into templates and the rest of the files put them into MQL4 > Indicators.

Open any chart on mt4 and right click and place the template it should look like my chart.

The arrows are based off of one of the indicators in there that I payed to have custom done to be put on my charts

 

[liljp361]

For anyone that wants to learn the method I use check out the thread on fxfactory, the author puts plenty of good examples in the first half of pages

http://www.forexfactory.com/showthread.php?t=456527

 

[onthenephs]

Wow. Great contributions I am on vacation currently, when I get back I'm down with the skype group.

 

[liljp361]

These are more of the setups that I like to see with multiple lines of divergence (the dashed out diagonal red and green lines), and then waiting until the arrow for the entry and confirming direction with the next higher time frame:

The first chart (m30) is where the setup is seen

View media item 1084257
The second is the next higher time frame (h1) showing confirmation of direction is in line going down as well


View media item 1084258
View media item 1084261

 

[yanky]

OP do you only trade forex or do you also trade cryptocurrency?

 

[bravelude]

USD should be the big mover this morning. this is on 15m usdjpy, just a 5 pip stop, gonna see if this holds up

View media item 1083227

what platform is that, looka good

 

[liljp361]

what platform is that, looka good

Metatrader4 with my own template being used:

-The moving average is a smoothed triple exponential moving average colorcoded for direction (green or red)
-The candles are heiken ashi candles (helps me to see the direction of the trend better)
-The dashed out lines are from THV Trix (a separate indicator in the subwindow that I keep minimized), they are hidden divergence used in trend continuation
-The arrows are from THV Trix as well. They show up whenever the 2 lines turn to the same color. I requested to have this added onto my charts and paid to have someone program it.
-I have grid turned off.

 

[bravelude]

Metatrader4 with my own template being used:

-The moving average is a smoothed triple exponential moving average colorcoded for direction (green or red)
-The candles are heiken ashi candles (helps me to see the direction of the trend better)
-The dashed out lines are from THV Trix (a separate indicator in the subwindow that I keep minimized), they are hidden divergence used in trend continuation
-The arrows are from THV Trix as well. They show up whenever the 2 lines turn to the same color. I requested to have this added onto my charts and paid to have someone program it.
-I have grid turned off.

i had tos, but seems to crash. they have too much going on with that platform

 

[liljp361]

i had tos, but seems to crash. they have too much going on with that platform

Yeah they do.

i had tos, but seems to crash. they have too much going on with that platform

yeah it does. I think it had a bloomberg tv terminal.

 

[bravelude]

Yeah they do.
yeah it does. I think it had a bloomberg tv terminal.

i now am more passive n do equities. but still.want just a clean and good feed chart. I read, IB wasnt bad.

 

[liljp361]

Yeah I keep mine organized and clean. I run 6 instances of metatrader4 with 2 currencys displayed on each on 4 different time frames

Heres eur/usd top and eur/jpy bottom . from left to right : h1, m30, m15, m5

View media item 1084567

 

[bravelude]

Yeah I keep mine organized and clean. I run 6 instances of metatrader4 with 2 currencys displayed on each on 4 different time frames

Heres eur/usd top and eur/jpy bottom . from left to right : h1, m30, m15, m5

View media item 1084567

any other platform suggestions

 

[liljp361]

usdjpy sell 8 pip stop


View media item 1085080

View media item 1085081