10.7

[nanningbob]

NB,

could you please advise one this:

You mentioned earlier that “Once price direction is set for the month it lets you know” could you explain a bit more how the settlement of price direction can be perceived / measured?

Thanks in advance / Mop

Not quite sure what you want. Red and yellow on top means UT; red and yellow on bottom means DT. Tight ranging markets like we have now can be seen on the screen by looking at the candles. An indi cannot give clear direction if the market isnt moving. If the market does breakout of this tight range then the indis will tell you that very quickly and you can trade it. Right now I am using the TMA to play these tight ranges.

[harry]

Hey There,

Can anyone help me to understand line of zero plz? what is the use of it?

thanks
Harry

Its the break even line when you have a trade or multiple trades going.

thanks BOB

[nanningbob]

Been a big fan of your trading since Forex Factory days. I haven't been around in a while and I just need a quick refresher on your stance on some issues if thats ok.

- Do you still trade without stops? All of the time? Some of the time?


I rarely use stops since I still use multiple levels to trade. I consider Forex unpredictable or chaos moment by moment but trending long term. I do take losses when I think a trade is not worth moving on further or I go beyond my percentage of account DD 10-20% depending on the market and what currencies I think are not worth chasing.

- You try to trade pairs in the direction of positive swap if your going to carry a trade over multiple days/weeks etc., where do you find out the swap for the pairs you trade? Also, do you factor in Currency Bank Rates for each country/pairs (or am I confused and that is already factored into the swap?) ?

In the 10.7 update there is a swap rate indi you can put on your screen. Its either n the 10.7 update or the 10.7 Indi thread. page 1 post 1. I keep one on every screen so I always know the swap. The swap can be very different from broker to broker and from account type to account type.

- Can you point me to a post on this forum where you list the currency pairs you trade?

My currency pairs traded are included in the CSS for 24 pairs. Go to CSS thread for how I use it.
- What about currency correlation? Is there a simple way (indicator etc., for the pairs your trading) to see currency correlation so you don't accidentally double up the same trade because 2 pairs were highly correlated?

CSS is used for currency correlation. read the 10.7 CSS thread for on how to use it. Basically the euro and chf are linked at the hip. Other pairs correlate when they are running parallel either up or down. Another very good ranging pair to trade is the gbp/cad. Aud and NZD are highly correlated but if you read the CSS thread you will see how I use that info to trade.

[Cherry]

Sell USD - CAD ???

Isnt this an invalid CLASSIC entry any way due to the green on bottom and red on top, thought they had to both be on top or bottom?

AH !!! well, I thought it was the other way around, so maybe this is 10.9 long term trade signal?

I thought the green line is telling me the bigger time frame direction, Weekly ?

And the red and blu stochs were showing the price retracements on the short time frames ?

I do look at other analysis before trading, eg. must be below the 200 SMA

Must be in the direction of Bob's magic 60 / 240 EMA on 4 Hour chart

I mark this on every pair, not at the crossover price, but near the low or high of the crossover bar.

RED for a down cross, GREEN for up cross, easily see this on Daily time frame then as reminder.

You will be amazed, when a trend starts, this becomes support and resistance line, see the Daily chart

Trade what you see on your charts

Hi Snowman,
What indicator are you using that gives the MA's with infill? It seems on the daily it equates to the 21EMA and 50EMA that I use.
Thanks for these examples.
Cherry

[nanningbob]

I may not be posting for a couple of days. My friend's son fell off a 5 story balcony and is in very serious condition. He is in a coma with a broken back and neck. I will be trying to help the family as best as I can.

Bob

[Cherry]

I may not be posting for a couple of days. My friend's son fell off a 5 story balcony and is in very serious condition. He is in a coma with a broken back and neck. I will be trying to help the family as best as I can.

Bob

Oh Bob that's awful, I'm very sorry for everyone. Do hope sincerely for his recovery.
Cherry

[astral77]

Oh GOD. The worst thing fora parent is to see their child in such a situation. We pray for him.
Kind regards

[Nidolap]

I am not a father yet but this is probably the most brutal thing that can happen to a parent.

Best of luck in recovery.

[taipan]

We all pray for him for recovery. God bless.

[The_Snowman]

Hi Snowman,
What indicator are you using that gives the MA's with infill? It seems on the daily it equates to the 21EMA and 50EMA that I use.
Thanks for these examples.
Cherry

I am using 20 and 50 EMA plus watch the 200 SMA on Daily / Weekly

Pretty stock standard stuff