nanningbob wrote:OK first graders. American money. 1 penny is 1 cent. Now if you put five of them together you have 5 cents. So if I say I trade 5 pennies per 1000 dollars of account it has nothing to do with lots. Because with some brokers. .05 means five pennies and to others it means fifty cents per pip of movement. All the other stuff means nothing.

So lets say you have 10,000 dollars in your account and you trade five cents per thousand, that means you would play 50 cents on a trade. Got it. Ok now we will have our test Saturday on five pennies per thousand next week Monday. Study hard, I know it is difficult.

Hey Steve does this make your hall of fame??

f451 wrote:

endikwong wrote:
Some questions:
In this period, price still manages to cross WP and hits WR1. You mentioned that at WR1 it's a good point for counter trend shorts. How do you know this, since at that point price is between WP and WR1 and it's supposed to be in "long" trade.

I am sorry if this is not related to 10.x. Please feel free to delete my post here.

Thanks

Exactly why it's "counter trend". Price is above 240. Hits resistance at WR1, price prints an M (double top), showing that resistance level is being respected. Additionally in the previous week, price broke the weekly pivot instead of respecting it, showing we might be transitioning to a trading range or starting a reversal to a down trend. Good candidate for a counter trend short, even though price is still above the 240. The previous couple of weeks provide the context.

garyfritz wrote:You got it right, Bob. I'm an engineer at heart. Electrical Engineering & software. Gotta understand how something works, at least a little bit, and I tend to pick it apart to see what it's doing.

I can drive a car without knowing all the details of how it works. But I've never had any luck "just getting in and driving" in the trading world. It's like I'm crawling into the cockpit of the Shuttle, and I have no idea which of those buttons mean "go faster," "go slower," and "blow up" !!



So I ask lots of questions.

10.4 is a damn fine blueprint, and I'm hoping I can finally use it to master all those buttons and knobs. Thanks for your generosity and sharing, and for your patience with my questions.

endikwong wrote: Some questions:
In this period, price still manages to cross WP and hits WR1. You mentioned that at WR1 it's a good point for counter trend shorts. How do you know this, since at that point price is between WP and WR1 and it's supposed to be in "long" trade.

I am sorry if this is not related to 10.x. Please feel free to delete my post here.

Thanks

rosst wrote: I like the usdchf discussion! Some more observations:
MN trend is down!
W1 trend is sideways
D1 looks to me like an uptrend but price has come down to test what was previous R (March) now turned S?
H4 could be retesting 240 like it did back about May 9
I feel like I am in a round room & have been told to go pee in the corner....

kwanann wrote:DARN, while replying this, USDCHF has BEGUN!

Pipstubborn wrote:

garyfritz wrote:

nanningbob wrote:So you may see that overall eur is stronger than overall gbp but you still need the individual comparison of each against each other on one chart to get the best entrance point.

That makes perfect sense. I just don't understand why you'd want DIFFERENT indications on the two pages. If EUR is stronger than GBP on the Info page, but EUR is weaker than GBP on the EURGBP chart, which one do you believe?

The Info page shows an at-a-glance status for all 8 currencies. The individual pair chart shows the status for 2 currencies, alongside the pair. That's very useful, but I would think the data would be the same on both charts. If they're different on purpose, then how do you interpret them when they're different? What are the different values supposed to tell me?

Simple Gary, You believe the Info Page. The CSS on the chart fine tunes your ENTRY.... ENTRY PENDINGS When you go to the pair in your example on H4 chart you wait until the lines cross back again in the direction of the INFO Page or you are on a Gold bar.... it is a PinPoint tool. When in the chart are opposite is telling you that YOU ARE IN A PULLBACK....GET READY TO LOAD!

I did 1051 pips today, 2996 pips yesterday and 9573 pips for the month so far because I believe the way I just explain to you.

By been too analytical.... you are missing the boat, the fun and the load trying to figure how the engines of the Carnival Cruisse works instead of enjoying the ride.