nanningbob » Mon May 12, 2014 4:24 am wrote:gbp/jpy 30M chart I took the 24 pips. Top of TMA and STO7 hit top. I will look for retrace back in or go for a longer term trade when it crosses the xxx.50 line. Just taking some quick retraces today almost 70 pips to start the week. Usually I do better than that but that is what I try to do on Mondays early, pick up some quick pips here and there until I see the market choose a direction. I still am set up for the usd/chf to move up into an UT but if not I may play another down move and see if it goes someplace again.

Using 10.7 on the 30M is a good way to pick up 10-20 pips on 4 or 5 pairs to get your week going. It feels good to get 50-150 pips on Monday early to warm up the week.

TraderDesk » Fri May 09, 2014 3:36 pm wrote:@zentauro67

I too use "FastTMALine" within my charts. I actually use it for the 1h, 4h and daily time-frames. I was wondering if you know of any dashboard that would let you know if price comes within a certain x distance to the upper and lower "FastTMALine" lines. This would save me time in monitoring multiple charts for price action to come close to any of the TMA lines that I have set up and I prefer to watch them all in one spot.

Any idea if anyone has created such an indi?

Thanks....

Panamamike » Mon May 12, 2014 8:27 pm wrote:

nanningbob » Mon May 12, 2014 4:24 am wrote:gbp/jpy 30M chart I took the 24 pips. Top of TMA and STO7 hit top. I will look for retrace back in or go for a longer term trade when it crosses the xxx.50 line. Just taking some quick retraces today almost 70 pips to start the week. Usually I do better than that but that is what I try to do on Mondays early, pick up some quick pips here and there until I see the market choose a direction. I still am set up for the usd/chf to move up into an UT but if not I may play another down move and see if it goes someplace again.

Using 10.7 on the 30M is a good way to pick up 10-20 pips on 4 or 5 pairs to get your week going. It feels good to get 50-150 pips on Monday early to warm up the week.

Do you choose your pairs for early week scalps by the charts, indicators, or a lower TF CSS?

nanningbob » Mon May 12, 2014 5:40 pm wrote:

Panamamike » Mon May 12, 2014 8:27 pm wrote:

nanningbob » Mon May 12, 2014 4:24 am wrote:gbp/jpy 30M chart I took the 24 pips. Top of TMA and STO7 hit top. I will look for retrace back in or go for a longer term trade when it crosses the xxx.50 line. Just taking some quick retraces today almost 70 pips to start the week. Usually I do better than that but that is what I try to do on Mondays early, pick up some quick pips here and there until I see the market choose a direction. I still am set up for the usd/chf to move up into an UT but if not I may play another down move and see if it goes someplace again.

Using 10.7 on the 30M is a good way to pick up 10-20 pips on 4 or 5 pairs to get your week going. It feels good to get 50-150 pips on Monday early to warm up the week.

Do you choose your pairs for early week scalps by the charts, indicators, or a lower TF CSS?

Egads, I did explain why I did, let me try again.
1. I check my CSS and saw the usd and chf were ready to cross. I like playing the crosses
2. 4H usd/chf was outside the TMA due to a big break out
3. I went to the daily chart and saw the same thing could happen there. It was either going to breakout (CSS usd chf cross) or reverse.
4. When you have big moves I go to the 30M chart and plan my trade. I showed how I could break up or break down depending on what price did.
5. price broke down but weakly. Sto7 went to the bottom so I exit and I took my 11 pips and waited to see if it would break up.

Today I go back to my CSS eur has crossed the usd but the chf has not. It is telling me price is undecided what it is going to do next. So I will again play the break up or break down scenario. Cad is on top moving up so I will look for Cad strength moves and eur and chf weakness moves. gbp is angling down; aud, nzd are angling up; usd ??? waiting to see what it will do next.

This is called top down analysis and chart reading. I took you through the process step by step. If you didnt understand it go through the charts and look at them, stare at them, watch them, read them. If you didnt understand it, go read them again. If you didnt understand it. Go read them again. If you didnt understand it, go read them again. If you dont get it after reading them and reading them and reading them. Get out of trading it is not for you. If you begin seeing it then you can become a successful trader. If you dont time to get out. I am not trying to be mean I am trying to give you sound advice. Some people will not get it. It took me years and years off staring at charts to get it. I just did a 3 1/2 year study of my trading. I average 5% a month. That is what I am, a plodder who just hangs in there and beats the bushes until I find stuff.

If you dont get it but want to. Stop trading and do what I did after banging my head against the wall for several years trying to learn to trade. I basically didnt trade for 6 months and just studied charts. From the 5M to the monthly I looked them over and over and over. I watched what they did during the JPY session, the euro session, the USA session and the aud.nzd session. I watched what they did during the news, holidays, when nothing happened and when certain people spoke. I watched and learned, read everything posted on the news at FF. I read the great threads. I decided I was going to learn this business. Now I just go trade. I can look at a chart and in 5 seconds I am setting up a trade or going on to the next one. It is automatic with me now. I am sure BOLDTRADER can say somehthing similar, CAPTAIN JACK same thing, on and on. Speak to Alorente or any of the other good traders here or any other forum. It comes but you have to pay your tuition.

I am reminded of something someone said 2000 years ago and I have found it to be true:

Ask and it will be given to you; seek and you will find; knock and the door will be opened to you.

Good luck and keep knocking.

Panamamike » Tue May 13, 2014 8:20 am wrote:
Thanks BOB. I was interested in your methodology for 30 min. You summed it up quite well In when and why you go to the 30 min chart.

nanningbob » Tue May 13, 2014 2:45 am wrote:USD has now crossed chf and usd on the CSS and the aud is about to cross the JPY. Loading up and ready to go.

fok » Tue May 13, 2014 11:10 am wrote:My brokers feed shows CSS daily read: USD, CHF and EUR are angling down without current cross (crossed last week). USD did cross AUD.

nanningbob » Tue May 13, 2014 10:45 am wrote:USD has now crossed chf and usd on the CSS and the aud is about to cross the JPY. Loading up and ready to go.

padnoter » Tue May 13, 2014 5:20 pm wrote:Hi Fok & Dispell,

Yes the CSS differences are annoying... My broker (ETX Capital) has similar differences to yours... which made EUR & CHF slope up going into the start of last week, whereas most others had a flattening/falling line.

Since then, I've just been checking on a few different brokers to make sure they agree, and if they don't then I'm more wary of a read..

FXCM demo seems to match Bob's CSS. As does IGindex.

I've not got to the bottom of it yet... pairs seem the same, data looks ok... but something is different!