Now let us do 100 meters and be a Mr.Bolt breaking world records. Yes I'm talking about unlocking the greatest secret & most dangerous game in FX - about 1 min charts and doing 10-15 pips trade every 20-40 mins. As I informed before my strategy is Envelopes 44,0.14 and 88,0.07. It worked wonders for me and if you understand my BUY/SELL levels for 12 hrs & 24 hrs then the vertical limits concepts are same as BUY/SELL levels in 1min chart is the BLUE line i.e Envelopes 44,0.14. BUY when price is closer to LOWER BLUE line and target first at LOWER GREEN line and then UPPER GREEN line. For sell it works vice-versa. Remember; when you do 1 mins charts BUY/SELL levels you're going against market traders and thus becoming a FX player. There are risks as these trades are very short term like zero seconds trade that I did few days back. Book you 1 min BUY /SELL levels when you see UPPER/LOWER segments are reducing and lines are about to overlap. The GREEN lines act as SUPPORT/RESISTENCE based on your trade. This process is called PUMP & DUMP in traders terms.
Tell me how many pips you gained/lost by this strategy - very eager to know on how it works for others.
Any idea how I could get downloadable code for envelopes.
ReplyDeleteFXCM Trade Station doesnt have it included but does offer some downloadable code here.
http://fxcodebase.com/
Inside the program offers ema's , ma's and the bollinger . I have been scouring the internet but cant find code for it.
Netdania is powered by fxcm but still not luck.
true, I'm surprised that fxcm don't offer envelopes but you can also create customized indicator in chart window. Measure the width between blue lines in netdania and create a line indicator following MA 44 & 88 easy!!! is it MT4 or trade station is different .. I left fxcm long time back so not so sure.
ReplyDeletejust a tip iMA(44)+(14*point) for UPPER BLUE LINE & iMA(44)-(14*Point) give a try and adjust the 14 with the width that matches netdania
ReplyDeletethere is no minus for ma's.what am I missing???
ReplyDeleteI have ichimoku..............sometimes, I am a pretty dumb smart person
no no rich, I want to do something like BBand but with MA. say your MA(44) 1.5000 so MA(44)+(14*point)=1.5014 and MA(44)-(14*Point)=1.4986. Hope you got the idea
ReplyDeleteif one side of the 88 channel appears outside the 44 channel I take it that this would not be a valid trade if price broke the 44 on the same side the 88 was on the oppersite side of? If you follow that ??
ReplyDeleteif 88 lower line breaks 44 lower line the price is consolidating at same level and chances are there will be another buy opportunity too
ReplyDeleteSo I asked FXCM on thier custom indicator support about and they wrote one for me.
ReplyDeleteit is close but not exact.
thier offset is 100 divided by 5 and I can't get the .07 or.14. I am seeing if they can tweek it.
But I must say that I am pretty impressed that they did this