The path of the newbie: do you want to cooperate?

New comment
 
 

What time (and Zone) is the Blog updated? Thanks.

 
 

Introduction

Hello everyone!

My name is Anthony Schneider.

My exp at the Forex - 2 years. Not so many, you can say, but they are enough if you have a good system, and if you know how to work with it.

I can't say that I am the best forex trader nor the best analitic. I'm just a trader, like the others.

I have started my blog, when I realized that my trading plans would be helpful and interesting to other traders. I won't write here how good or bad are they: it must be completely your decission. Nobody will force you to read my blog, nor this thread .

I would like to thank Nili for his interest in my blog and for his invitation to this thread. I wil try to answer to all questions, that you, or any reader will ask me.

I have opened a sell order at 2.0830 and I have closed it at 2.0800 a little bit lower there was a support. I have earned 27 pips So, everything is clear, but you didn’t say anything about a stop loss. I would like to ask what stop loss should I use? I didn’t put a stop loss because I traded on demo account.

Nili, you have chosen a little wrong open point. You must not place your trades precisely at these levels on the chart. To understand the system you have to use my supports and resistances to find good points to open your trade, and good targets, where you will close it.

For example I marked out flat borders at this picture, and I have opened my trade around 885. Why this point, you ask me? Because a little earlier the price didn't manage to fix under the lower flat level, though it managed to break it. When it bounced from the another border, I have made a decission to open a trade. When you place you order on the basis of the flat levels, than you must place your stop order on the basis of the flat levels too. In this situation I placed my order a little higher then the top flat border.

You have opened your trade at the 830. If you have opened it after a rollback, then a good point to place your order was a little higher then the previous fractal, for example at 864.

What time (and Zone) is the Blog updated? Thanks.

Profitmaker, usually I update my blog every morning (around 1-2 A.M. GMT), but, as I have already wrote there, I had some problems to solve. I hope that in the future I will be able to update it everyday. I have already posted my trading plan for today there.

I have a question to the author, at what time do you suggest us to trade?

The best time to trade is from 6 to 10 (GMT) and from 13 to 17 (GMT). There are session crossings at these time periods: 6-10 Asian and European sessions, 13-17 European and American sessions.

I hope I answered to your questions!

Best Regards!

Anthony Schneider.

 

Hello, thank you Anthony for accepting to cooperate, and also thank you for your answers. The answer with entry point was a little bit difficult to understand for me, because I have had to watch the moving that happened three days ago, but I have understood. Here is the trading plan for today. I will try to implement it, and if there will be questions, I will ask them later.

GBPUSD No more Teddy Bears

Good morning.

There was a big bullish trend yesterday: during the only one day, the price have managed to breakout all the previous MAX levels.

And it looks like we are going to break these new levels too...

Right now we are in correction.

Take a look at the picture

20071108+-+gbp01.gif (image)

I marked out all main levels as usual - they are red lines on the chart. Black lines are the targets of the descending correction. I will hardly sell today: correction may be finished at any time. For me only short sells are possible. I will wait for a breakdown of a level, a little rollback to it, and if the price won't manage to breakout it, then I will sell SHORTLY. Probably I will close such a trade on the previous MIN level before the rollback. But you must remember, that if you are not an experienced trader, then the chances are that the price will touch all your stop levels, and then it will make a reverse.

Ascending trading is safer today, but correction may be veeery long...

I will buy at the levels, that I marked out in black. The safer BUY point will be after the breakout of the MAX level, but there you must watch out for the irregular correction, in which wave B can possible fix a new MAX.

Here you can see the entire post

The Uncommon Trading In My Life: GBPUSD No more Teddy Bears

 

Hello, here is the trade plan for today

GBPUSD New day on the Forex... What's going on?

Good morning.

Today we have reached important resistance level, and price have bounced from it.

It is a very good theme to discuss, but first I want to write some words about yesterday situation.

Take a look at the picture.

20071109+-+gbp01.gif (image)

As I thought, we had an ascending movement yesterday.

On my chart I marked out some points.

Take a look at the rectangle. As you can see there were 4 false breakouts of the max level. After that this level was broken with the one powerful movement, and only at this point we could open a trade. Also I marked out stop level: according to the system, I use, it must be placed a little bellow the previous fractal.

Take a look at the second picture

http://bp2.blogger.com/_Sv1U9q9koZU/RzP4B9cWOjI/AAAAAAAAAGM/5j3X7oPvvLI/s1600-h/20071109+-+gbp02.gif

It is the same chart, but TF is M5.

Here you can see the reason why I use this heavy black MA (233).

I have marked out four regions, where MA has become a good support for the price. Also you can see that this heavy MA had ascending movement curing the whole period.

Now about the current situation.

Here is a picture

20071109+-+gbp03.gif (image)

I marked out all levels in red as usual.

Right now it looks like we are going to reach new tops. If we will manage to break the last max level, then I will buy after a rollback.

Sells are still dangerous today. There may be a correction, but a good point to sell will be lower then the last min only. I will sell only shortly.

And one more thing. There were no DJ levels yesterday: they simply didn't publish them. If they will publish it today, I'll add them to my chart and post it here.

Best Regards

Anthony Schneider

The trade plan is taken from: The Uncommon Trading In My Life: GBPUSD New day on the Forex... What's going on?

Good Luck;)

 

hi

Sauron:
Hello everyone!

My name is Anthony Schneider.

My exp at the Forex - 2 years. Not so many, you can say, but they are enough if you have a good system, and if you know how to work with it.

I can't say that I am the best forex trader nor the best analitic. I'm just a trader, like the others.

I have started my blog, when I realized that my trading plans would be helpful and interesting to other traders. I won't write here how good or bad are they: it must be completely your decission. Nobody will force you to read my blog, nor this thread .

I would like to thank Nili for his interest in my blog and for his invitation to this thread. I wil try to answer to all questions, that you, or any reader will ask me.

Nili, you have chosen a little wrong open point. You must not place your trades precisely at these levels on the chart. To understand the system you have to use my supports and resistances to find good points to open your trade, and good targets, where you will close it.

For example I marked out flat borders at this picture, and I have opened my trade around 885. Why this point, you ask me? Because a little earlier the price didn't manage to fix under the lower flat level, though it managed to break it. When it bounced from the another border, I have made a decission to open a trade. When you place you order on the basis of the flat levels, than you must place your stop order on the basis of the flat levels too. In this situation I placed my order a little higher then the top flat border.

You have opened your trade at the 830. If you have opened it after a rollback, then a good point to place your order was a little higher then the previous fractal, for example at 864.

Profitmaker, usually I update my blog every morning (around 1-2 A.M. GMT), but, as I have already wrote there, I had some problems to solve. I hope that in the future I will be able to update it everyday. I have already posted my trading plan for today there.

The best time to trade is from 6 to 10 (GMT) and from 13 to 17 (GMT). There are session crossings at these time periods: 6-10 Asian and European sessions, 13-17 European and American sessions.

I hope I answered to your questions!

Best Regards!

Anthony Schneider.

Hi,

Thanks for share your forecast here, anyway did u use zigzag as your main indicator ?

===================

Forex Indicators Collection

 
prasxz:
Hi,

Thanks for share your forecast here, anyway did u use zigzag as your main indicator ?

Hello.

Yes, it is one of the main indicators.

Soon I will post here the full explanation of the system I use.

Right now I'm working on it.

Best Regards.

Anthony Schneider.

 

The system I use

Good evening everyone.

The first thing I want you to know is that I didn't develop this system. I just have made it a little more convenient for myself.

Here is the explanation of the system I use.

1) Main pairs

I trade GBPUSD and EURUSD only, but I use also AUDUSD, USDCHF, USDJPY and USDCAD (these pairs are called "Allies") to watch the main movement of the USD.

2) Main TF (Time Frames)

I use intraday system, so my main TFs are M1, M5, M15. I watch H1 - D1 to understand the whole movement.

3) Working periods

The best time to trade is from 6 to 10 (GMT) and from 13 to 17 (GMT). There are session crossings at these time periods: 6-10 Asian and European sessions, 13-17 European and American sessions.

4) Indicators

ZigZag, MACD (5-34-5), Fractal, 4 MAs with the following periods 5, 21, 55, 233, Fibo grids.

=========================================================

Before the every session I analyze current situation: I count Elliot waves, define support and resistances levels, watch the movement of the allies.

At the beginning of the every session usually we can see a flat. I begin to plan my trades after the breaking of its levels.

How to recognize the real break

Take a look at the picture

http://bp0.blogger.com/_Sv1U9q9koZU/RyGv6kqjX-I/AAAAAAAAABE/y1IAr1OSFmI/s400/20071026+-+gbp02.gif

I know that a lot of newbies have problems with the recognition of the real break. At this picture we could see how powerful resistance level was broken.

My comments.

At 3:30 (M5 GMT) the price tried to break this level for the first time, but it didn't manage to do so though. After a little time we could see the first break up to 2.0536. Remember, we mustn't open the trade at once, when level was broken for the first time! As you can see, the price had rolled back and only after it returned, the price has managed to fix under this resistance level, AND then resistance has become a support! Please, remember this thing, because it is the main point here. Price had bounced from this new support level, and we could open a trade.

Fractals and ZigZag help me to understand the direction of the movement.

The main instrument to define support/resistance levels for the next session is Fibo grid. I try to define Elliot waves on the chart, and then I place Fibo on one of these (usually on the 1st impulse wave, on the correction and so on - it all depends on the current situation). On each morning I place Dow Jones levels on my charts. The fact is that usually my levels are very close to DJ's, but I define them 12 hours earlier.

Sometimes I have some kind of a gap between my and DJ's levels. Then I will place my trades on the basis of both.

Then I watch those levels, that I marked out.

I use fractals to define stop loss levels.

For example yesterday movement:

Take a look at the rectangle. As you can see there were 4 false breakouts of the max level. After that this level was broken with the one powerful movement, and only at this point we could open a trade. Also I marked out stop level: according to the system, I use, it must be placed a little bellow the previous fractal.

http://bp2.blogger.com/_Sv1U9q9koZU/RzP349cWOiI/AAAAAAAAAGE/pjeR1FOOQ70/s400/20071109+-+gbp01.gif

I use so many MA to define current trend vector.

Also 233 MA is a very good support/resistance level.

Here is an example, also yesterday movement:

Here you can see the reason why I use this heavy black MA (233).

I have marked out four regions, where MA has become a good support for the price. Also you can see that this heavy MA had ascending movement curing the whole period.

http://bp2.blogger.com/_Sv1U9q9koZU/RzP4B9cWOjI/AAAAAAAAAGM/5j3X7oPvvLI/s400/20071109+-+gbp02.gif

All quotes were taken from The Uncommon Trading In My Life

It is all for now. On weekend I will post here the rest of my explanation, all my indicators and my template for Metatrader 4.

Also I will explain a lot of things during our discussion at this thread and at my blog. I will gladly answer to any of your questions via E-mail or ICQ as well.

Send me messages at nthint@yahoo.com

I look forward to see you soon!

Anthony Schneider.

 

I want to thank you for sharing this

 
12345678910111213
New comment