Exciting news in Poland.

Hello there, Sarah here!

  So it looks like there may be a tough fight in the second round of the presidential election in Poland.   After the first round they speculate that the winner will be Bronislaw Komorrowski . But their happens to be  a strong contender Jaroslaw Kaczynski ready to give a fight .  Does this  effect the market .  We don't have to worry, the overall outcome of the election should be  relatively close to what they expected so the  impact of this should be relatively muted. The zloty has strengthened slightly this morning, but that has probably more to do with the increased global risk appetite than with the results of the presidential elections.  Fun question for you all to think about : What do you think? Is a Democratic or Republican president better for the market?  
   Let me know your views and I will provide the answer in my night blog.    Lets continue onto .....................................................JAPANESE CANDLESTICKS

 Candlesticks are the indicators that reflect the feelings (fear and greed) of the buyers and sellers. Candlesticks have their own language. If you learn their language, you will see that they really talk to you and tell you what will happen in the future.

It is so important that we learn the language and the language well.  Remember that Price volatility is the result of nothing but the behavior of the buyers (Bulls) and sellers (Bears
Every  candlestick has 4 numbers OPEN PRICE, CLOSE PRICE, HIGH PRICE, LOW PRICE.

I will try to give you an example: When you open the one hour time frame, the open price is the price of the currency pair at the time that the candlestick is started. In the one hour time frame, it takes one hour for each candlestick to be formed completely.

When a candlestick is just started in the one hour chart, the price is 1.362 this is the open price. The prices goes up and down during one hour and finally, when one hour is over, the price is 2.0080. This is the close price.

You get a BULLISH CANDLE when the close price is higher than the open price. It means the price has gone up during the formation of the candlestick.
Now If the open price is higher than the close price, the formed candlestick is a Bearish candlestick. This  means the price has gone down during the formation of the candlestick

The high price is alway the maximum price and low price is always the minimum price during the formation of the candlesticks.

Hope this picture I drew for you gives you clarity.

We will learn the different shapes tomorrow.

Now who wants to know how my trades have been going?  Well I have not used the Robot in a couple of days and I have to say I hav not made good trades. Been playing the AUS market and frankly it doesn't take a "professional" to know that it is not doing so well :) !  I am taking a few nights off from trading to focus on learning a little more and going to program these new settings in . I will share them with you .,

EUR/CHF
UseScalperStrategy true
Scalper_UseMM true
Scalper_LotRiskReductor 15
Scalper_UseAutoGMTOffset true
Scalper_StartWorkTimeHour 20
Scalper_StartSessionMinute 0
Scalper_EndWorkTimeHour 0
Scalper_EndSessionMinute 30
Scalper_EURCHF_TakeProfit 6 (5 if spreads are above 3)
Scalper_EURCHF_StopLoss 50
Scalper_OneTrade 0
Scalper_OneOpenTrade false
Scalper_MaxSpread 3 for commission based broker with 1 pip commission (4 for non commission broker)
Scalper_UseCustomLevels true
 
GBP/USD PARAMETERS VALUE


UseScalperStrategy true
Scalper_UseMM true
Scalper_LotRiskReductor 10
Scalper_UseAutoGMTOffset true
Scalper_StartWorkTimeHour 20
Scalper_StartSessionMinute 30
Scalper_EndWorkTimeHour 23
Scalper_EndSessionMinute 30
Scalper_GBPUSD_TakeProfit 8
Scalper_GBPUSD_StopLoss 62
Scalper_OneTrade 0
Scalper_OneOpenTrade false
Scalper_MaxSpread 3
Scalper_UseCustomLevels true

USD/CAD   parameters value


Scalper_UseAutoGMTOffset true
Scalper_StartWorkTimeHour 20
Scalper_EndWorkTimeHour 1
UseScalperStrategy true
Scalper_UseMM true
Scalper_LotRiskReductor 10
Scalper_MaxSpread 5 (never exceed 6)
Scalper_OneTrade 1 (max 1 trade/day)
Scalper_OneOpenTrade true (max 1 open trade at a time)
Scalper_USDCAD_StopLoss 48

REMEMBER TO SET YOU GMT!  THESE SETTING WILL MEAN NOTHING IF YO ARE NOT INLINE WITH YOUR BROKER. HERE IN ONTARIO CANADA OFF SET ID +2 . BECAUSE MY BROKER IS IN AUSTRALIA. YOU TAKE YOUR TIME AND YOUR BROKERS TIME( which you will find when you pressw your market watch on you platform which is also "ctrl M"
I HAVE A FEW MORE SETTINGS I WILL SHARE WITH YOU IN TIME. LETS TAKE A BREAK AND DO SOME TRADES. LET ME KNOW WHAT YOU PLAN ON TRADING.  I am taking a break from the market for a few days .It seems slow . GOOD LUCK EVERYONE.




Be back tommorow with some more setting for you all to try !

Cheers