|
|
 |
|
06-21-2009, 11:47 PM
|
 |
Member
|
|
Join Date: Nov 2008
Posts: 339
|
|
Quote:
Originally Posted by Xiao
could you tell me the Pivot Point Work on 5 minute Chart Holders Also... If a Trader Work on 5 Minute chart so Pivot Wave Work On The chart..
|
Ni hao Xiao 
The daily pivot points are calculated using the high, the low and the close of the previous day. In Person's book, the systems use hourly candlesticks mainly, not the 5 min time frame.
Thanks for the Chinese lesson by the way 
__________________
4 powerful forex robots in one software : tinyurl.com/4forexrobots
|
06-22-2009, 12:41 AM
|
 |
Member
|
|
Join Date: Jun 2009
Posts: 294
|
|
|
k
Quote:
Originally Posted by imported_Bigpips
Ni hao Xiao
The daily pivot points are calculated using the high, the low and the close of the previous day. In Person's book, the systems use hourly candlesticks mainly, not the 5 min time frame.
Thanks for the Chinese lesson by the way |
oh
You mean The Candle stick Never Works on 5 Min time Frame,,ummmm huh..
I am still Finding About candle stick 
And no Problem ,, no thanks ... Coz you didn't Pay me.. 
thank you 
|
06-22-2009, 02:10 AM
|
|
Member
|
|
Join Date: Nov 2008
Posts: 339
|
|
Quote:
Originally Posted by Xiao
oh
You mean The Candle stick Never Works on 5 Min time Frame,,ummmm huh..
|
Not at all, candlesticks work on any time frame, it's just that they are more meaningful on the bigger time frames.
For example a shooting star is more powerful on the daily time frame than on the 1 minute time frame.
__________________
4 powerful forex robots in one software : tinyurl.com/4forexrobots
|
06-22-2009, 02:29 AM
|
|
Member
|
|
Join Date: Jun 2009
Posts: 294
|
|
Quote:
Originally Posted by imported_Bigpips
Not at all, candlesticks work on any time frame, it's just that they are more meaningful on the bigger time frames.
For example a shooting star is more powerful on the daily time frame than on the 1 minute time frame.
|
oKAY IMPORTANT bigpips..
yes you are very Important of what you said about Candlestick I have seen many candle In 5 minute Chart It Didn't Work Quietly, But is that you mean Candle Stick Never works On 5 Minute time Frame..
huh,,, Could you Tell me Please
I want to Earn Like your Last Name.. BIG PIPS... 
thank you ,, xiexie 
|
06-22-2009, 01:49 PM
|
 |
Moderator
|
|
Join Date: Jan 2009
Posts: 479
|
|
|
Generally speaking , candles and indicators are more accurate on a long term basis. This is due simply because we are comparing more data and have a wider scope of what the market is doing. Tick , 1minute - 5min charts show a very micro picture of what is going on in the market and tend to be less reliable.
Walker
|
06-22-2009, 03:12 PM
|
|
Member
|
|
Join Date: Jun 2009
Posts: 294
|
|
xie xie
Quote:
Originally Posted by Walker E.
Generally speaking , candles and indicators are more accurate on a long term basis. This is due simply because we are comparing more data and have a wider scope of what the market is doing. Tick , 1minute - 5min charts show a very micro picture of what is going on in the market and tend to be less reliable.
Walker
|
Thank you Mr, Walker.. 
Okay So You mean Mr,Walker That Candle stick Never works On 5 minute Chart time Frame..
And so What Kind Of Analysis Works on Five Minute Chart..
thank you ... Cheer 
|
06-22-2009, 05:16 PM
|
|
Member
|
|
Join Date: Nov 2008
Posts: 339
|
|
Quote:
Originally Posted by Xiao
Thank you Mr, Walker.. Attachment 32291
Okay So You mean Mr,Walker That Candle stick Never works On 5 minute Chart time Frame..
And so What Kind Of Analysis Works on Five Minute Chart.. |
Once again Xiao, candlesticks work on ANY time frame, even the 5 min.
But if you prefer to use candlesticks on the the 5 min charts, then you are scalping the market and your stop should be tight and your take-profit small and quick, in the 15 to 30 pip range.
That said, candlesticks should not be used as a stand-alone system, they are best used in conjunction with other indicators, like pivot points, as explained in Person's book for example.
Tested on thousands of historical trades, some candlestick formations are indeed profitable, if you know how to use them properly (read "Money-Making Candlestick Patterns: Backtested for Proven Results" by Steve Palmquist if you want to trade that way)
__________________
4 powerful forex robots in one software : tinyurl.com/4forexrobots
|
06-22-2009, 08:30 PM
|
 |
Moderator
|
|
Join Date: Apr 2009
Posts: 297
|
|
|
Trading in the Forex Market
Quote:
Originally Posted by imported_Bigpips
If you think linearly yes, but the real pros pyramid (add to) their positions when the market is strongly moving in their favor, and quickly move their stop to break-even, so they can play with the "house's money" so to speak.
A move of that magnitude (2000 pips on that short USD/CAD) can easily exceed the 1 million dollars mark profit, starting with only 10 standard lots.
In fact it only takes one or two big moves like that and the forex trader is set for life, assuming he has the guts to pyramid his profits to the max!
|
Trading strategies do indeed vary. As you can see, even our Trading Signals function by breakout versus momentum strategies based on different assessments in the market. This also depends on how actively you trade. How actively does everyone trade here?
__________________
Lena
|
06-22-2009, 08:37 PM
|
|
Moderator
|
|
Join Date: Apr 2009
Posts: 297
|
|
|
Education
Quote:
Originally Posted by imported_Bigpips
Hello Xiao,
If you want to know more about Candlestick trading,I suggest you begin with "Candlestick Charting For Dummies" by Russell Rhoads, excellent book.
Then read the fantastic "Candlestick and Pivot Point Trading Triggers" written by the master of candlesticks, John L. Person himself. This book will show you how to use pivot points and candlesticks to create a great trading system. Some of the systems he describes in this book have been backtested with OmegaTrade Station and produce over 100 pips a month profit.
Take care.
|
Thanks for the Recommendation Big Pips!
Aside from books, we also have an Education Section here at our Trading Community: FX PowerCourse Education - DailyFX Forum
Or you can consider taking the Powercourse which basically goes over the basics of currency trading.
Aside from this, you can also review some of our Free Videos Here: Forex Education | Currency Trading Videos
__________________
Lena
|
06-23-2009, 03:20 AM
|
|
Member
|
|
Join Date: Jun 2009
Posts: 294
|
|
Quote:
Originally Posted by Lena V.
|
ooooooooooo Thank you For That LENA V... 
Now I will Study More 
|
06-23-2009, 07:10 PM
|
|
Moderator
|
|
Join Date: Apr 2009
Posts: 297
|
|
|
You are Welcome
Quote:
Originally Posted by Xiao
|
Not a problem Xiao! You are welcome. Our Educational Videos are a great way to get acquainted with the basics of currency trading and the PowerCourse is a great way to commit some time to getting education from our own instructors with over 20 years of currency trading experience!
What currency pairs do you typically trade?
__________________
Lena
|
06-23-2009, 10:38 PM
|
|
Member
|
|
Join Date: Jun 2009
Posts: 9
|
|
TOP 5 TRADERS
I am new to the forum, can someone tell me how to see the top 5 traders and what they are doing? Also can you tell me how to see the leaders to date and they percentage rate so far?
|
06-23-2009, 10:44 PM
|
|
Member
|
|
Join Date: Jun 2009
Posts: 294
|
|
Glad
Quote:
Originally Posted by Lena V.
Not a problem Xiao! You are welcome. Our Educational Videos are a great way to get acquainted with the basics of currency trading and the PowerCourse is a great way to commit some time to getting education from our own instructors with over 20 years of currency trading experience!
What currency pairs do you typically trade?
|
Eur/jpy And Gbp/jpy, But I more Likely To Trade in Eur/jpy that is My Favorite Currency Pair Coz has very Low Spread Of Compare To Gbp/jpy.
And Yes,, Thank you For that Ma'am I had Good and Great Knowledge From Forex Guys They are Very Nice to Give The Answer very fast as Possible..
thank you ......... 
|
06-24-2009, 08:41 AM
|
 |
Registered User
|
|
Join Date: Jan 2009
Posts: 3
|
|
|
King of the Micro?
What happened to the King of the Micro discussions?
Aren't there more appropriate forums for beginners? Moderator?
|
06-24-2009, 09:43 AM
|
 |
Moderator
|
|
Join Date: Oct 2008
Posts: 695
|
|
Quote:
Originally Posted by mkroth
What happened to the King of the Micro discussions?
Aren't there more appropriate forums for beginners? Moderator?
|
Hi mkroth!
no worries, the King of Micro discussion thread is still here! click on the following link King of Micro Discussion I look forward to seeing you posting in that thread!
__________________
~ FXCM Micro Specialist
|
|
|
| Thread Tools |
|
|
| Rate This Thread |
|
|
Posting Rules
|
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
HTML code is On
|
|
|
|
