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4 hour trading entry and exit almost to the pip
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So, ever wondered what support does hold and what not? Would it be possible to set an entry and forget?
Here is my first thread I am starting and I am about to show you what to do and what NOT to do.
1) First of all, I want to tell you all that I don’t care about news! Even if it is NFP or GDP or whatever. Price will always move with a reason what has been determined before the news comes out. Don’t believe me? Ok check where the Euro is currently, or where the US$ is with all the money printing. See, it doesn’t matter anymore. News is just an event that can speed up the price movement to the determined levels with shaking out as much as possible! Remember this.
2) It doesn’t matter neither that it is asia trading so it is irrelevant because London didn’t opened yet. Also another thing to debunk right now. I have seen big moves before during asian session. Remember, market NEVER sleeps! Not even in the weekend! FX is 24/7. Just for the public it is 24/5. But yes, market is ALWAYS moving.
Now, lets get going. I don’t use any indicators, no volume no MA’s. Simply a 4 hour chart and that’s it! If you want to add Moving averages or whatever indicator just go ahead. I am just going to show you how to determin good entry points and exits.
Patience is really important. If you’re a day trader then this system is probably nothing for you because we’re trading off the four hour chart.
So those are my levels I watch currently with EUR/USD.
Now let’s get to the important question. HOW TO DETERMIN ENTRY POINTS?
It is really just looking at the chart. If you look very good, you will see that I am setting my lines on the opens and close of the 4 hour candle. This is all you really need to know! Remember, Open and close!
EU is trending right now what is very good. Remember, it really needs big forces to change a trend. All you need now is to have good entry points.
Советники: News Trading v.3.6 – страница 3
Evgeniy Serov :
Подскажите где этот журнал находится.
Спасибо, за обнов ление .
This morning i have had 3 news important. So that EA should have taken decisions to place trades.
But nothing happened, no error logged, dll activated.
Moscow is 12:43, and my local is 11:43 (Paris), broker(fxpro) 12:43 http://www.timeanddate.com/worldclock/
so there is something wrong with ‘time’ maybe summer / winter switch
Здравствуйте, Евгений Серов!
Спасибо за ваш труд, особенно как новостной советник , версии 3.6.
Есть проблема. Не корректно отображает время выхода новостей. Т.к. на прошлой неделе, работал корректно, замечаний не было. А на этой неделе, начина с понедельника, 11.04.2020 и по сей день появился глюк.
Trading Efficiently – The 2 to 3 Hour Trader
) fame (This is an approximation)
This was on SNES. I still think its a great game, but when you play this? Its so relaxing and the game somehow manages to make trading fun in various ways. Even doing tradeskills and selling in market makes it rewarding. Can choose 1 of 3 classes but you can learn skills in each class to combine your own unique character, cant do 33% because youll miss out on certain quests, but can be lets say, TRADER 70% 30% MARITIME(Battle/Pirate).
Only slightly stressful feature is the tutorial. As you do it and progress you end up learning that it is very much needed to do this to get to know how the game works. But youll appreciate you did. On the brightside you dont have to finish it either, if you think you know enough then you move on., you always have the option of continuing. I will dedicate the next years on this as my main MMO. Im sorry that i didnt get to play it earlier.
Day Trading Forex Live – Advanced Forex Bank Trading Strategies
Forex Trading Hours – The 24/5 Market
The Foreign Exchange (Forex) trading hours kick off Monday morning in Australia, Sydney, to Friday afternoon in the Big Apple, New York. From Sydney open to New York close, markets open and close at all hours of the day and night around the globe. Commonly referred to as the 24/7 market, which is not complete accurate as it does close down on weekends. It should rather be referred to as the 24/5 market. A lot of new traders struggle to calculate exact market open and close hours due to the time zone difference. There is a simple yet effective way to keep track of these times without getting confused .
Forex Times In GMT
To simplify thing we will be using Universal Coordinated Time (UTC). Formerly know as Greenwich Mean Time (GMT). In Greenwich London, this is standard ‘winter’ time, which is the point of zero longitude on the globe. The normal Forex market trading hours are from 21:00 Sunday (GMT +0) to 21:00 Friday (GMT +0). This is 9 pm during winter times in the United Kingdom. So now its fairly simple to calculate these times according to your time zone. If you happen to be in Athens/ Europe, which is GMT +3, you simple add 3 hours to 21:00. This means the markets open Sunday night at 00:00 and closes 00:00 Friday night. Fairly simple right?
Taking Daylight Savings In Consideration
When taking summer daylight savings into account things get a little more complicated. This makes for a 1 hour difference in countries that fall under DST. Daylight savings time operate differently in the Southern hemisphere countries such as Australia, which have summer from October – April instead of March – October. Here is a summary to save you the time and effort of calculating between different daylight saving times.
Market Open Times London DST
Sydney: 10 pm to 6 am
Tokyo: 12 midnight to 8 am
London: 8 am to 4 pm
New York: 1 pm to 9 pm
Market Open Times New York DST
Sydney: 5 pm to 1 am
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Tokyo: 7 pm to 3 am
London: 3 am to 11 am
New York: 8 am to 4 pm
As you can see there is always a market open 24 hours a day.
Should You Trade 24 Hours A Day
Just because the markets are available for trading 24 hours a day, it does not mean the market will be favorable all the time. If you are planning on making Forex trading your business, trading 24 hours a day will burn you out and cause you to lose interest sooner than you know it. Just after the 4 major markets open, price tends to be volatile and unpredictable for the average uneducated trader. Many traders will sit the first 1 -2 hours out until markets calm down. They will repeat this step for each individual market open. Big newbie mistake in my opinion!
The first 1 – 2 hours can be a great time to be on the lookout for possible Stop Hunts and reversal trades. This allows you to enter valid A + setups within the first 2 hours of a market open, allowing you some free time the rest of the day. Something every trader needs! The majority of traders around the globe trade the UK and NY markets. Asia is what we like to call the consolidation period, and a great marker to use for determining direction for the rest of the day.
The Final Word
In theory one can trade the Forex market 24 hours a day from Sunday to Friday. This is not recommend and most likely not humanly possible. Some traders make use of Automated software in the form of EA’s and robots, thinking more trading is more profits. In Forex trading is should always be quality above quantity! Trading 2 – 6 hours a day can generate you more profits than spending endless hours in front of the charts. Be a smart trader and use your time wisely.
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