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Gann Ribbon 10.7 System
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Author:  slowkey [ Thu Jul 17, 2014 11:06 am ]
Post subject:  Gann Ribbon 10.7 System
This of course is not the only site I look at but I find this the best place to thread. I have come across a free video course from a guy that trades mostly fundamentally. In my experience in trading Nadex or Forex what makes for good trades is news. Having good insight into this can make it easy to setup strikes.
I like free. I respect more readily somebody in this Forex game that puts out his knowledge and is not offering anything in return. So having come across this gentleman I thought I would pass his site along. He post regularly on Forex Peace Army. He has a free video course explaining how he trades fundamentals and is a professional trader. There is no advertising on his site that I have found and besides a free video course he offers he post his take on the weeks news events which from what I have read are insightful. I have not watched all the videos but I like his blog and the videos are very professionally done. I like this guy. If I find out he has some shady side I will disavow him but he seems like a straight shooter. I like free and so you make your own mind up if your interested.

Edit... He post his videos on Vimeo and if you have any technical problems you can search for them there and watch them there.

http://www.jarrattdavis.com/

Cheers, :)

Doug
Author:  slowkey [ Sat Jul 19, 2014 4:25 am ]
Post subject:  Gann Ribbon 10.7 System
So I have listened to two of Jarratt's videos on how he trades and they are worth a listen. The explanations he lays out are insightful and in the third video he is going to lay out how he takes his trades in a simple 123 approach. He is very engaging and easy to listen to. He has laid out the frame work of his trading based on what particular indicators central banks are concerned about and which of the 4 tools they might utilize to keep the economy stable with the chief one being interest rates. He has 3 sites he pays attention to in forming his opinions. The first of which is Bloomberg and their currency section. He has a real time filtered news service he subscribes too and he focuses on the Forex factory calender for planing purposes. I think fundamental knowledge is important part of trading. He simplifies it and makes it accessible. I am looking forward to his third video. Of course I still put stock in technical analysis with emphasis on Volume, Price and and S/R. He puts very little stock in technical analysis. He makes some good points. I focus on leading indicators. I think you can have a mixed approach. I think he does a good job of shooting down the myths people have about fundamental analysis.

Cheers, :)
Doug
Author:  slowkey [ Sat Jul 19, 2014 9:02 am ]
Post subject:  Gann Ribbon 10.7 System
Volume is really important in trading. It is a leading indicator and I have tried to take advantage of it using tick volume and refining that by using Barry's Better Volume indicator which can process volume to reveal what is taking place in each bar.

That being said I have found that the way Darrel Martin at Apex investing uses real futures volume in place of tick volume interesting.

What is more interesting is that FXCM now has come out with a free indicator for their trading station that uses the total real volume from all of the transactions that take place with in their servers worldwide. While still a small fraction of the total spot Forex market volume everyday having access in real time to all the volume passing through FXCM each second is a significant leap forward. They are the largest Forex broker in the world so this is a significant sample. This is the first broker in the world to do this. I hope that they will be able to also release an indicator for their Empty4 platform. However their trading station is a nice platform and now one can trade price and real volume on their their platform.

Cheers, :)
Doug
Author:  daveM [ Sat Jul 19, 2014 3:42 pm ]
Post subject:  Gann Ribbon 10.7 System
I fired up the simulator today... a lot to grasp.

BTW the URL for the simulator has changed www.FXBlue.com

The simulator is a wonderful tool.!

Thanks for all of your efforts.

daveM
Author:  slowkey [ Sat Jul 19, 2014 8:30 pm ]
Post subject:  Gann Ribbon 10.7 System
daveM » Sat Jul 19, 2014 11:42 am wrote:I fired up the simulator today... a lot to grasp.

BTW the URL for the simulator has changed http://www.FXBlue.com

The simulator is a wonderful tool.!

Thanks for all of your efforts.

daveM
Thanks Dave ... I changed the link in post 1 and 2.

Cheers, :)
Doug
Author:  slowkey [ Tue Jul 22, 2014 3:22 pm ]
Post subject:  Gann Ribbon 10.7 System
I am moving more to trading the 1 hour charts. 4 hour and above do not suit me. I find the low volatility that we are presently experiencing frustrating for trading intraday. I am exclusively trading news on Nadex. Trading news with binaries is a fabulous way to trade. The key to Nadex is movement. Fading the news is also a very nice strategy on Nadex. I prefer spot Forex over spreads. I hope to spend less time at the computer. I am retired. Should be able to find a happy place.

The biggest injustice I see in US regulations is the de-leveraging of Gold, Silver and Oil by the regulators. They have priced the retail trader out of the market with not allowing leverage. These are very nice instruments to trade. Gold especially can move really nicely even in otherwise low volatility periods.

Cheers, :)
Doug
Author:  slowkey [ Tue Jul 22, 2014 7:52 pm ]
Post subject:  Gann Ribbon 10.7 System
I was looking at a pair like AUD/CAD which I traded today on the hourly. Looking back through last week the pair has been ranging but yet on the hourly there would have been ample entry locations to sell and buy. What I like about this is that for every trade you would have been looking at many hours before you would have had an exit signal for a profit. There is one location that you would have exited in a few hours but most many hours. 10.7 was giving strong signals all week. This would be trading counter and trend in a range. Each aqua line was a possible trade. Each signal from 10.7 would have been worth a look. Barry's volume signals were also helpful. I did not count the low volume start of the week on Monday or Friday afternoon. There was 11 possible trades on this one pair. AUD/CAD is not a major pair by any means but even in a range there was trades.
AUDCADmH1.png
Edit ... Just a clarification. I would not be trading a strict counter trend vs trend as outlined strictly in 10.7. However even though the weekly and daily 2:1 stochs are not always signalling counter trend opportunities the pair is trading below the 960 average mostly during this period in a bearish pattern.
Author:  Adrienne [ Wed Jul 23, 2014 12:44 am ]
Post subject:  Gann Ribbon 10.7 System
slowkey » Wed Jul 23, 2014 1:22 am wrote:I am moving more to trading the 1 hour charts. 4 hour and above do not suit me. I find the low volatility that we are presently experiencing frustrating for trading intraday. I am exclusively trading news on Nadex. Trading news with binaries is a fabulous way to trade. The key to Nadex is movement. Fading the news is also a very nice strategy on Nadex. I prefer spot Forex over spreads. I hope to spend less time at the computer. I am retired. Should be able to find a happy place.

The biggest injustice I see in US regulations is the de-leveraging of Gold, Silver and Oil by the regulators. They have priced the retail trader out of the market with not allowing leverage. These are very nice instruments to trade. Gold especially can move really nicely even in otherwise low volatility periods.

Cheers, :)
Doug
Yesterday I was on practice and a friend on live with Ag & Au, at 10.20 pm Australia time it spiked up. Can the Forex site crash at these times when everyone wants to sell? We couldn't sell! Also 1 minute prior to this spike my Ag open position was closed by someone else, this I had been sitting on all day, then I couldn't sell my Ag either. What the hell is going on please help I am having trouble getting to chat to anyone thanks
Author:  slowkey [ Wed Jul 23, 2014 1:47 pm ]
Post subject:  Gann Ribbon 10.7 System
Adrienne » Tue Jul 22, 2014 8:44 pm wrote: Yesterday I was on practice and a friend on live with Ag & Au, at 10.20 pm Australia time it spiked up. Can the Forex site crash at these times when everyone wants to sell? We couldn't sell! Also 1 minute prior to this spike my Ag open position was closed by someone else, this I had been sitting on all day, then I couldn't sell my Ag either. What the hell is going on please help I am having trouble getting to chat to anyone thanks
A spike can occur for varied reasons in the market. Many brokers will brag about their execution with Cowboy IBFX giving a statistic of 99.83 percent. I can not remember in a long time trading a US broker of reputation that I have not been able to get an order filled. In the past when I traded some non-US brokers I had noticed a lot of rejections and even with Cowboy IBFX years ago. Now a days however I do not notice this and Cowboy IBFX seems to live up to their statistics.

However in general if the market is moving rapidly during a news announcement you may not be able to get an order filled at your price because of a widening spread and a moving target in price. There is a deviation setting under the options menu in Empty4 to try to handle this situation. FXCM has the best explanation of this option setting.
Maximum Deviation NOT Enabled:
If maximum deviation is not enabled, the order will be treated as a fill or kill order. The order
will attempt to fill at the price clicked on. If that price is no longer available, then the entire
order is rejected. If you trade during non-farm payrolls or other big news events, you know that
prices can change very quickly.

Enabling the maximum deviation box may reduce the rejection rate for market orders. Entering
a maximum deviation of 2 pips (entered as 20 since the last digit is a fractional pip), would allow
a possible deviation of 2 pips from the price clicked on. The order will attempt to fill at the best
price within the set deviation. If the order cannot be filled entirely at the best price in the set
deviation, the order will be cancelled.
It is best to give your self some flexibility in rapid market situations by setting this option. It will still try to get your price but will than within the window you set try to fill at a different price.

That being said all of the brokers I trade with have deep multi-bank liquidity, are regulated and are completely automated Oanda, FXCM, and Cowboy IBFX in the US. FXCM and Oanda being the largest retail brokers in the world. While it is possible to get a price rejected I have not had that happen in a long time. Of course it is always good to set a stop so that you can get out immediately if price moves against you.

The only way you should have a position closed is if your free margin percentage drops below 100 percent. Now this may vary between brokers and how they close it might too so you should read their policy or talk to them but generally around this percentage they will close down the largest position so that you will not be able to own them money. They will not necessarily close all of your positions. They just want to up your margin again to a safe level. So it is wise to watch what you are using. This is for your protection as much as theirs. You will have to talk to the broker for a more specific answer. I do not have enough info to know for sure what happened in your situation. I would expect it to be something like that. The broker you trade with does actually make a difference. Jemook would be able to address this all much better than me. Global Prime Forex having a great reputation among the traders here.

Cheers, :)
Doug
Author:  slowkey [ Wed Jul 23, 2014 3:06 pm ]
Post subject:  Gann Ribbon 10.7 System
Moving into an analysis of trading the 1 hour time period with ribbons. I think this period will give one the best insights from the perspective of price movement and ribbon support/resistance. The ribbons in larger time periods 4 hours and up loose their significance and will not offer as much insight being a bottom up approach to trading. I mean you loose the significance of how price interacts intraday. However the one hour having the 30 minute shadow ribbon, the 4 hour, the daily and the weekly ribbons seems to be just the right time period that still demonstrates ribbon dynamic support and resistance intraday yet can be both traded over hours to days. It is small enough to trade intraday and big enough to hold a position over several days especially in a strong trend. The ribbons loose a tremendous amount of usefulness on the 4 hour time period with just 6 intraday candles. The hour with 24 candles a day is small enough to paint a nice picture of intraday S/R. In other words the ribbon laws still hold up. On the 4 hour you are no longer in a intraday time period and loose the detail trading a smaller time period gives you intraday. I think it also offers an easier time period to trade having some of the same advantages of the larger 4 hour. I also think that the 960 average can give perspective and guidance to trading both trend and counter trend. The chart below shows how the 1 hour still benefits from the ribbons. There are much better examples and it may be that the 1 hour having less noise but still being an intraday time period may offer the benefits of trading a larger time period but with the benefits you get in timely entries with a lower time period. The best of both worlds.
EURCADmH1.png
Cheers, :)
Doug
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