is preparing...
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I IM'd him last night. I gave him the typical angry, yet polite "When do I get my money back? Share price has to hit $X before I break even. With your R/S and excessive dilution, there's no hope, is there?" Took him forever to respond. All he said was "maybe it looks better."
What kind of response is that?
So. Disgusted.
Financing his post-heart-surgery medications through tax evasion and the dumping of shares? That might involve the FDA! Just a wild-a__ guess, though! ;)
What you need to do is this:
1) Open your chart and size it however large or small you want it (full screen, etc.)
2) On your keyboard, hold down the Alt key (just to the left or right of your space bar)
3) Press the Print Screen key (immediately above the Insert key on a standard desktop keyboard
4) Release both keys
What that will do is create an image of that active chart window. You can then open up Microsoft Paint, Adobe Photoshop, or any other image editing software. Once you have a new, blank document open in that program, click the Edit menu and then click Paste. The image of your chart will appear.
Now all you have to do is save that file onto your computer. Then, go to photobucket and upload that saved picture. The photobucket site should provide you with a direct link to that picture, which you can then copy and paste here (using the same method you'd post any picture here).
That's really all there is to it. I may be heading to bed shortly, but I'd be glad to clarify what I've explained, if need be.
I hope that helps!
You're welcome. I'm in the same boat...trying to take it all in. I'm just hoping that typing and repeating what I think I know will help solidify the knowledge for when I truly need it! hehe.
I'm still learning, but what I would then watch out for is the Wm%R dropping back down below the 20 and the CCI dropping below the +100. If I were trading that, I would probably have sold right around 6pm, not knowing that the chart would spring back upward right before 6:30.
But yeah, I think that's why it's best to make quicker and more frequent trades. Lock in profits while you've got them. The price may spring back to life after a short correction/consolidation, but who knows when? Perhaps as long as the EMA(9) stays at the top of the rainbow (or bottom, if shorting), that's also an indicator to stay in? As in, once it crosses below the EMA(14), that's your confirmation to exit (along with the dropping of the Wm%R and CCI).
Maybe?
That's just how I read it. Simple may have an altogether different method!
In my opinion, that chart would have told me to buy at about 5am. See how most/all of the ribbons are on top of each other around 4:30 - 4:45? By 5:00, they begin to fan upward and outward. The Wm%50 crosses above the 50 at the same time. That's the buy signal.
Ah-ha! That did the trick. For some reason, the last time I tried that, the only thing it saved was the default pair and time-span I had selected at the time. Oh well, it's working now.
Time to practice! Thanks for your continued help and support, Simple!
Also, is there a way to set up the OANDA indicators once and apply them to all pairs? I currently have to add all indicators to every pair, manually. Not horrible, but a bit of a nuisance.
Thanks for posting your latest indicators. I've got the MA(2)(20)(50), the RSI(5) you previously had, and Wm%R 25.
Are these current indicators working better? It certainly looks like the rainbow makes it easier to spot breakouts, and such.
Will give those a try.
That's the process I'm trying to figure out, but I didn't have much luck with the 10k or 20k unit size. I had set the account value to $1,000 and the leverage at 20:1.
Either my timing is off, or I'm just not catching the good long runs, because I couldn't seem to turn profitable before the mini-trend turned on me. Of course, it could also be that I'd been trying to shoot for trades that only lasted between 10 and 30 minutes, round-trip. Maybe sticking with a longer trade (holding through the mini-ups and mini-downs) is the solution? As of yet, I don't feel comfortable walking away from the computer for more than a couple of minutes while "trusting the trend." I try and watch it like a hawk.
I'll get the rhythm down sooner or later.
Great!...and Congratulations on getting set to GO!
I'm not sure that my real account will come before the first of the year. Been pretty busy to really practice, the past week or so. I'll get there, eventually!
By the way, unless a pair really moves, it's hard to nab a decent profit when you're only trying 10,000 to 20,000 units per trade! ;)
May try a few between 40,000 and 50,000 before going back to 75,000 units.
Yeah, my margin max is 50:1, too (also through OANDA)...though they do start you with a default value of $100,000.
Good to know that they won't allow you to go into debt! They'll play broker, but they won't play banker! LOL
Simple: I've been looking, but cannot find any specific rules on maximum margin based on account size (for OANDA). The only thing I see is: "Margin-trading - up to 2% (or 50:1 leverage)"
Is that 50:1 maximum the same for any account size, whether it's $1,000 or $1,000,000 ?
Just sounds dangerous to be offering such a high margin for just any old cheapie account.
I will use the indicators as I [attempted to] put them in the previous post, then.
Great idea on the trendlines in the indicators, and backtesting. Will have to work that into my system, too.
I'm dilligently taking notes!
Great! Thanks for the clarification...and correction!
But wait...it is a 5, right? You still typed out a 9 in the example. Not to mention the example showed RSI, instead of SMA. So what is it?
Is this correct? - SMA(5)(20)(50) and RSI(5)(70)(20)
I'm all antsy for the trading week to begin again! :D
OK. Clarification...you say you do MA(9/20/50), but Oanda has an EMA, SMA, and WMA. Which do you use?
Thanks!
I'd say those were some pretty thorough explanations. And yes, I'm seeing the same thing...it's all about TREND! Thank you! I've got to figure something out with Oanda. Apparently, they don't support Windows Vista, and that's why I've not been able to sign up for an account from my home computer. I did take some time to sign up on my work computer (sshhh!)....to browse the interface. I like it! I like it so much, in fact, that I'm wishing I had XP back on this home computer. We'll see.
Anyway, I'll have to get some 3+ year charts for comparison, and also try those indicators you just mentioned. I've tried most/all of the indicators that both you and charger have suggested. All seem to work pretty well! Very cool! My $100 profits don't seem to come around for at least 20-30 minutes, though, so clearly I'm not as proficient in market timing as you are. But I do notice that you're looking at more timeframes than I am. I've not gone below 15 minutes, and it looks like I should be, for confirmation.
Learning and playing...I'm loving it! Thanks again!
Simple: Just looking for clarification...
As far as 4X goes, what's your process?
I know in the very beginning, you mentioned looking at a 3-year chart (SharpChart, I assume) for all of the major currencies....to get an idea for market tops, bottoms, etc. Do you still look at long-period charts like that?
I'm assuming you go through some/all of the majors and crosses at various timespans (day, hour, 30m, 15m, 10s, etc.) looking for verification of the indicators you mentioned in your Chart School series (and perhaps what charger has suggested, recently)...then trade until you either get $100, or some indicator tells you to sell?
That sound about right?
I just want to make sure I'm looking at and for the same/similar things as you. I don't want to slip into the same habits that darn near ruined my equity portfolio.
Thanks in advance!
So, what d'ya say...field trip to Boca Raton?
Anyone know the trick to getting an Oanda practice account? I went to www.oanda.com, clicked the Trading link in the top green menubar, and then clicked the blue-grey "Oanda FXGame: Register Now" button. But the browser just says "Page cannot be displayed." Hrm....
Thoughts?
Thank you! I have that post marked. I plan to try it tonight...or this afternoon, if work gets slow! LOL
GM all! So far, my Forex trades have been very short-lived...just 30 minutes or so....just to get a feel for market movements. So, I decided that since this is just play money, I went long with 2 lots of GBP/CHF last night at about 11:45pm and went to bed. Imagine my surprise when I sold this morning, making over $3,900!
Of course, I'm not naive enough to believe that this is a common occurrence, but I was tickled to see that I had picked something that looked "safe" to stay in overnight. Woohoo!
LOL. Agreed on all fronts. Looking back on all of my losses, I see that I got easily "sucked in" to the board mentality that dilution and MM's were the reasons the PPS went down. And even though that may have been the case at times, I adopted the boards' "woe is me" attitude and just waited (along with most everyone else) for something miraculous to save my stocks' prices. With that said, I wasn't learning anything about trading...simply agreeing with the boards and watching the chart go down down down.
This is my time to turn that around, and with the help of this board and my practice 4X account, I'll learn to pay real attention to the chart and make my own decisions....not relying on the board consensus for my trading advice.
I know you've tried for years, and I'm so glad that you're still trying, as now I'm finally listening! ;) And yes, I'll give your chart settings a try! Thanks!
Thanks for the update! I had been doing Bollies(20), Slo STO(5,3), and Wm%R(14) and that did fairly well for me. I may give your suggestions a try to see what I like.
I do have the FOREX board marked and have been watching it. From the postings, I saw the market tossed a few people around last night! I'd say we're all wise to cut and run after only $100 profit...at least while we're learning!
Simple: Just getting back into the grind, from the Holiday....watching the JPY pairs go crazy tonight. I hope to play around some more with my play money on FOREX.com, this week. Have you enhanced or changed your 2 indicators on the FOREX chart?
Still using charger's STO(5,3) recommendation?
Wm%R still in?
Throw the MACD back in?
15 minute chart still getting most of your attention?
Just curious to see how your tech-indicator focus has changed, as this appears to be a 'whole new world' for T/A!
I'm heading to bed. Should have a bit of time to play tomorrow. G'night all!
Understood. Makes complete sense. Thanks for the advice, RD...it appears I need all that I can get!
Sounds great, and thank you! After my practice account expires, I plan to ease into FOREX. So with limited funds, I am glad to hear I can, technically, have just enough for a 1-lot (with any margin allowances included), and trade that repeatedly and rapid-fire...as the urge strikes.
Good to hear!
Hello! Thought I'd stop by and say hi, as I've been intrigued by Simplegreen's mention of FOREX trading. I hope to be browsing and sharing as I find time to learn FOREX.
I've got a quick question. Are the rules on settled funds in FOREX the same as they are with stocks? In other words, if I exit a position in FOREX, do I have to wait 3 days before my funds are settled for the next trade? If it's not the same, what are the settlement rules, if any?
Thanks!
Great info! I took about 2 pages of notes from that, last night.
Agreed. For my very first trade, I made $240+ in fake money in less than 30 minutes, with just a 1 lot.
Will definitely be taking a closer look at this. Thanks for the recommendation about FOREX, Simple.
And Happy Thanksgiving to you all!
Thanks for the info! I don't plan on giving up equities, entirely.
Even though the charting features are very weak, my streamer (Schwab StreetSmart Pro) does everything in real-time, as it should. The big negative is that it won't pull up a chart for any currency. It identifies the symbol as a currency, but no chart pops up. Bummer. So perhaps I'll try a StockChart freebie account, first?...for my initial FOREX dabblings, anyway.
We shall see!
Thanks for the info! Do you have any familiarity with the FOREX? I'm trying to figure out if it's worth it to get Real-Time, just to trade currencies...
Simple: Obviously, stock charts are an indispensable tool. I don't have an account with any charting site, as I've been relying on my streamer for that. I see more StockCharts.com charts on iHub than anything else, and it appears that that's what you use, exclusively. If I were to get an account there, which package would you recommend: Basic, Extra, or ExtraRT?
If I do get into FOREX, I think I'm going to need a capable charting system. Just looking for a suggestion. Thanks!
I like what I see so far!
Time for bed, but tomorrow I should be ready for some more digging...shovel in hand!
Just read that very same info minutes ago on FOREX.com. Good, brief intro.
Thanks for the list of symbols!
Awesome...so some/most of the indicators and chart fundamentals mentioned in your recent CHART SCHOOL lessons are what you use to trade FOREX?
That's an interesting aspect...having this 2-sided trade (long one half and short the other half of the currency match-up).
Got any more info...or a link to a site with more info? Curiosity is burning. ;)
Not involved, but have always been intrigued by it. I've always stayed away, because I have this pre-conceived notion that I have to be fully aware of world news so that I can stay on top of FOREX market conditions. Not to mention, I feel that my schedule is too busy to keep a constant eye on it.
Please tell me I'm wrong and that it's super-easy, so that I can give it a try! hehe.
I agree that they very well could have fallen through...although, just because they're still looking doesn't mean that their previous selection has been completely axed.
Not sure what to think, at this point. Still holding strong, however!
Couldn't hurt, could it? ;)
GTREX going green? ;)
I'd be interested in a list of companies that are attending this conference! If Al Gore is Keynote-ing, then I can't imagine too many no-name companies and figureheads attending. But what do I know?
I see it's being held at a Beaches Resort:
http://www.turksandcaicostourism.com/blog/al-gore-brings-his-incovenient-truth-to-tci/