Posted:
#201
Yep saw that. Been hoping the low RSI will turn it around
Long December.....FOREX
Posted:
#202
bucknuts....i sent u a friends request. i use forex.com as well, been at it on and off for about two years, still haven't found anything that's been profitable for me. if you could walk me through how to set up the charts i'd appreciate it. i've got the the rsi settings set up, and the sma lines, just not sure about the d1, adx, dmi, etc that you are talking about. thanks.
Posted:
#203
after reading this thread and a few others i think i may have it somewhat figured out. here's what i've got....let me know if this about covers it:
work off of 4 hr charts, use only rsi and dmi indicators, look for crosses of di+ and di-, if di+ crosses up through di- and rsi is low (around 35) then that is buy signal, if di+ crosses down through di- and rsi is high (around 70) then that is a sell signal?
do u have any certain pairs that you favor, or those that you stay away from?
thanx in advance for your help
Posted:
#206
great, been looking at some of the charts but don't see anything worthwhile coming up. is there anything you are looking at right now for the near future?
i don't know what's easiest for you to do to try and see upcoming trades, but what i've been doing is pulling up rsi on each chart, then if it looks like its in a buy or sell area (35 or lower, 70 or higher) i look at dmi to see where the lines are. seems pretty easy so far....let me know how you do it.
Posted:
#207
i set my chart up with those indicators and first scan the 4hr charts then i look through the 2hr ones....
We had a few good crosses today...GBP/USD was one of them it had an ADX/+DI cross then the DIs crossed...told one of my work buddies to check out this pair,hope he got in
I sold EUR/GBP yesterday off an ADX/+DI cross but didnt get nearly as much as i should have...the DIs crossed and sent it crashing...i swear i didnt see the DI cross coming when i last looked at that chart or i would have held on and made alot more $$$$
Posted:
#210
did u see that rsi level on the 4 hr or 2 hr chart? on the 4 hr chart i saw it at around 72. i was looking at it, wasn't really paying attention to the +di crossing the adx, was looking more for it to cross the -di, which is a ways away. went ahead and jumped in at 92.51 on a sell.
i actually had 9250 as a 23% fib retracement on the daily chart a few weeks back so hopefully that's gonna work out as a good level.
Posted:
#219
rick, haven't used fib lines too long. i just remember that level on the daily usd/jpy chart because i was going long on it a few weeks back trying to hit it. it looks like today it finally got there, but i got greedy with too many open positions, and added to those positions, that i eventually had my positions closed due to margin. i am using a micro account, and trying to be more disciplined now.
Posted:
#222
Quote Originally Posted by LT3976:
rick, haven't used fib lines too long. i just remember that level on the daily usd/jpy chart because i was going long on it a few weeks back trying to hit it. it looks like today it finally got there, but i got greedy with too many open positions, and added to those positions, that i eventually had my positions closed due to margin. i am using a micro account, and trying to be more disciplined now.
rick, haven't used fib lines too long. i just remember that level on the daily usd/jpy chart because i was going long on it a few weeks back trying to hit it. it looks like today it finally got there, but i got greedy with too many open positions, and added to those positions, that i eventually had my positions closed due to margin. i am using a micro account, and trying to be more disciplined now.
LT ive been putting threads up for well over a year now and we have had a few people come and go...one of the problems for newbs is that they try trading more lots than they should...keep your lots down to one or two at a time...if youre in a mini and have less than 2k i wouldnt start a trade with more than 1 lot...i like to keep enough margin in my account to where i have 10:1 money avail vs money in a trade
Posted:
#223
Quote Originally Posted by bucknuts:
LT ive been putting threads up for well over a year now and we have had a few people come and go...one of the problems for newbs is that they try trading more lots than they should...keep your lots down to one or two at a time...if youre in a mini and have less than 2k i wouldnt start a trade with more than 1 lot...i like to keep enough margin in my account to where i have 10:1 money avail vs money in a trade
Great advice. That's what I'm working on now, have always gotten way ahead of myself by having too many open positions. Just like sports betting, gotta have money management down to make $$$$. Hope im not one of those people that come and go, wanna be around for the long run. 
Posted:
#224
bucknuts....do you know how to open more charts on forex.com? i had to reinstall it on my computer today and in the default view i can only have three charts, i know in the past i've had four. i normally use the default, close out all the stuff on the left side of the screen (news, etc) and pin down the trading panel so that my screen only shows the chart and my open position(s).
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