GdayFx said:In this chart i have shown the OTE levels, please take note of the 0 - 100 fib levels in each session then the OTE
piptech said:Sybrand,thanks again for all your assistance on cot data,plse allow me to ask how you digest the info and determine when commercials are long/short on a particular currency verses another and the amount,thanks again for using your valuable time to assist,
dougl1965 said:I have a question about trading forex and what kind of fills we can expect to get? I'm making the switch over from trading the 6e and ES to the Eur/USD, etc in Forex land.
I've had a few trades where I set up the trade and come back a couple hrs later and for some reason didn't get filled. I'm thinking it might have something to do with the spreads? Do the spreads differ from vendor to vendor? And if so, do you guys have a formula you use to give yourself the best shot to get into a trade without risking too much?
Anyways, i'm asking these questions and i'm +2100 pips in my account.... so not too shabby. Just trying to understand forex land a bit better.
thanks,
dougl
dougl1965 said:Tansen,
So if you draw a fib and take an entry at 79% retracement, you typically don't have problems getting filled? That's good news if thats the case? I'm still on demo and been using FXDD. When I start, it will be with a small amount of money.
I'm like everybody else, looking forward to ICT's videos. Right now I'm keep it simple; draw my higher timeframe support/resistance levels; try to gage direction; check the dollar to see if its running into resistance/support on its higher timeframes; etc. I'm doing pretty good. I need to work on ways to cut back on my risk. I tend to use higher stops than ICT likes to. I'll check Oanda out again.
Anyways, thanks for chiming in!
dougl
GdayFx said:Lesson
So i was setting up this GBPCHF chart, on this fine Saturday morning in Australia, and found something interesting along the lines of what ICT preaches all the time "confluence" my friends. If you take any chart on MT4, set it to weekly chart and hit "Ctrl Y" on key board, this will give you your year start to end lines, and Daily chart will give monthly lines. So then you place your yearly and monthly highs and lows on the chart. Drop down to a smaller time frame and look at price action around those levels, also using fibs off the highs and lows to determine price action levels, have a look at the pair chart i added, and you can see there have been trading ops just on this pair alone in the last 3 weeks. note to gbpchf using this years high & low for fib levels confluence with HTF 50 fib level. When price hit that confluence area, it then sold off 700 pips so im not sure it will hit it again, but you never know. The lesson is about the price action on the way back to the confluence area. Dan
Piper said:Wonder what happened to the vid. Did anyone heard something?
Episode 3 link will tweet automatically upon Youtube servers processing completes.
dougl1965 said:Anyways, i'm asking these questions and i'm +2100 pips in my account.... so not too shabby. Just trying to understand forex land a bit better.
thanks,
dougl
Donnald_Darvy said:Nice!! ~~ sounds like you understand it plenty