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Everything posted by AndrewS

  1. You don’t need to trade. You need a fire brigade.
  2. Here is my setup for the Dax. The rally through R2 reached the high on the 22/1/2020 at 13639, reversed and approached the 20 period MA on the hourly and the 13550 region where there had been some build-up prior to a break above 13550 during Asian trading hours and then rallied.
  3. Pivot_Monday Fixed.mq4 in second post. https://www.forexfactory.com/showthread.php?t=152420
  4. The term “second entry” comes from Al Brooks book on price action. https://www.amazon.com/Reading-Price-Charts-Bar-Technical/dp/B004HGH3JE
  5. Yes, and it was more likely to fall 50 points than rise 50 points there. Edited the first test was at 7.30 and the more reliable second test was at 8.00
  6. I think there was a "second entry" setup for a sell just before the largest bear candle on the 5 min Dax chart.
  7. Friday was a high probability sell with the retracement back up to 29,000. Hoping for a close below 28782 today is not.
  8. Both started the day at S1
  9. Caseynotes, your daily pivots for the Dow look fine to me, but the Dax pivots seem to have been calculated differently.
  10. Reminiscent of the interview with Mark Douglas.
  11. I am too much of a chicken to be a permachicken so I sold something else where the resistance was more clearly defined.
  12. Thread started by someone who does not trade Indexes and as someone there noted "it shows". Dow over-extended with respect to rolling 18 hr VWAP which is currently around last week’s high.
  13. To make Indicator update change bar = Bars-counted_bars; to bar = Bars-1-counted_bars; https://www.mql5.com/en/forum/223073
  14. Well, you could not have watched the video given that you replied in 5 minutes. In the Introduction to his book Aziz writes. “In my opinion, the most important lesson that you can learn from reading this book is that you will not get rich quickly by day trading. Day trading is not similar to gambling or playing the lottery. This is the most important misconception that people have about day trading and I hope you will come to the same conclusion after reading this book. Day trading looks deceptively easy. Brokers do not normally release customer statistics to the public but, in Massachusetts, a state court did order the release of the records of financial brokers. Those records indicated that after six months of trading, only 16% of day traders actually made money. It is very easy to be one of those 84% of traders who are losing money. This bring you to my first rule of day trading: Rule 1: Day trading is not a strategy to get rich quickly. A very common misconception that people have about day trading is that it is easy: “buy low, sell high” or “buy the dip, sell the rally”. Again, day trading looks deceptively easy, but it is not. If it were that simple, everyone would be a successful trader. You must always remember that day trading is difficult and will not make you rich quickly. If you have this misconception, and if you want to get rich quickly and easily in the stock market, you should stop reading this book right now and spend the savings that you put aside for day trading on a nice family vacation. It would be much more satisfying to spend your money that way, rather than losing it in the stock market. Having mentioned all of these points, day trading can be a profitable profession. But keep in mind that it’s a highly demanding professional career and most definitely not a casual activity for beginners. It takes time to become a consistently profitable trader. Many traders will fail in the long and at times fatal day trading learning curve.”
  15. I’m thinking that it is better to cherry-pick your losers and learn form that. I read Aziz’s best seller on Amazon and I don’t think he has done beginners a disservice.
  16. VWAP with user defined number of periods. This is the Dax on a 15m chart with 48 periods. I got it from here. https://www.perfecttrendsystem.com/blog_mt4/en/vwap-indicator
  17. I think those swings were tradeable with a reduced position size on the Nikkei which tends to respect weekly pivots during European and American trading hours.
  18. It is the Trade Balance release Sunday morning GMT.
  19. Not this week but last week, I noticed at one point the Swiss Index was moving in the exact opposite direction as the EUSTX50. So, I think that some of the things which used to take place with the currencies are now taking place in the Indices to avoid the risk of Central Bank intervention.
  20. Dmedin, for me those Heikin-Ashi candlesticks on the intraday charts obscure the actual wicks and bodies too much. They do tell an interesting story on the daily charts.
  21. For risk on/ risk off moves in some cases I reckon indices are the way to go.
  22. Caseynotes, I see what you mean about going down to the 1m charts. Small Bearish engulfing candle on the Dow and Dax on the 1hr candle.
  23. That was the Nikkei 1 hour upside down and the Dax has been in sync with it the last three weeks.