Hi David, we apologize for the inconvenience; it does seem that this issue happens more often for XP computers. Moderator Note — Comment length edited Reply. Nial, Now that I can agree to. December 4, at 6: My CSM has stopped working.
An initial risk rule determines position size at time of entry. Exactly how much to buy or sell is based on the size of the trading account and the volatility of the issue.
Changes in price may lead to a gradual reduction or an increase of the initial trade. On the other hand, adverse price movements may lead to an exit for the entire trade. One of the first rules of trend following is that price is the main concern. A trader need only be worried about what the market is doing, not what the market might do.
The current price and only the price tells you what the market is doing. But I wonder about day trading as their living for longer daily time frames. Oh how I agree with this Nial I hope every aspiring trader takes note and takes thes points onboard, if I had this article years ago it would have saved me tons of money……..
Thank you for a really good convincing analogy for sticking to the bigtimes! Your explaination of the failed pinbars shows why is very instructive. Please keep up the good work! With a method such as price action, what you write makes sense.
On the other hand though, smaller time frame charts offer greater price development, rarely seen on daily charts or higher maybe once in 3 months. If you can read what price is telling you which always needs to be done with context of a higher time frame IMO , then you can only trade those pairs that more probably will give you a big move, and you can also time the market tightly to give you a nice risk-reward.
While your stop is within the daily range, if you read the chart correctly and time the breakout properly, your stop will most likely not get hit.
Trading in this manner prevents over trading because there will only be pairs that meet your criteria per day or 0 sometimes , nor does it necessarily demand a lot of attention, depending on your trading plan.
You could for example have a trading plan that calls to let the trade go for the day, and not actively manage it within the day. Often a strong breakout takes place quickly and you can move your stop to breakeven and the day is done for example that happened to me yesterday on a long on GBPJPY. They also want to minimize public participation in the big move. Understanding this and how it plays out on the chart, allows you to discern with some accuracy on what position they are taking, and when the breakout could commence.
I have not read the above write up yet but before i do, i want to tell everyone here that daily time frame is the stress-free holy grail. Let me now go and refresh my learning fron the above article, i am quiet sure it will be hot. Some people use the right indicators, some people use multiple time frames, and they become very good at it.
Hi mate, thanks for this. Because i learnt off you first i only look at daily and 4 hr charts i Would love to know more about what you get out of 1 hour charts, Gye: I almost totally agree with this article but any successful daytrader knows that taking decisions based on 1 candlestick on 5 min chart is a noob error. Also, when you daytrade you also need to pay attention on higher timeframes as well, for instance, if a bullish 4 hourly candlestick is forming during market hours and moving averages on 5 min chart and pointing up, then it is time to go long and stand market noise.
Day trading is difficult because of the market noise. Also, daytrade requires being glued to the computer during hours so if you left your day job for better life, day trading is not definetely for that. Thank you very much Sir for your inputs in our trading. I for one need to change from my 30min time frame to an hour. I have observed that in 30min time frame I can hardly spot the market trend. As a Forex beginner,this article comes particularly for me as if I personally requested for it.
I have been struggling to understand the best time frames and I find this very enlightening. Nial, your articles are always encouraging and enlightening. I am working on my discipline and patience to follow the price action in the longer time frames.
I will be reporting back on my progress. Thanks for the guidance. Your email address will not be published. Any Advice or information on this website is General Advice Only - It does not take into account your personal circumstances, please do not trade or invest based solely on this information.
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Below, we see the 5 minute USDJPY chart, and from this data we really cannot tell if the overall trend is up or down, as the market appears to just be ebbing and flowing very quickly and without much underlying or consistent sentiment: Small time frames demand a lot of attention. Learn, change, grow… I obviously cannot speak for everyone in the trading world, but the traders who contact me on a regular basis about struggling in the market and blowing out their accounts, are typically the ones who trade the lower time frames…that has to say something right?
Checkout Nial's Professional Trading Course here. Kevin cunningham November 11, at 7: You explain it the best! Durell Gordon March 9, at The same chart pattern in different time frames can be comparable. Zee November 10, at 6: Zen October 7, at 7: Daniel June 25, at Njabulo Lukhele March 15, at 7: Duncan Ok August 26, at 2: Nofrizal February 10, at 6: Arend van Schalkwyk November 27, at 8: Shaikh November 6, at 3: Dotun Olabisi June 13, at 6: Thanks man for the info info is power thumbs up Reply.
Michael June 8, at 1: Im in no rush to make money, the market will be there the next day. Sandro May 14, at Nial, very good, for informations. Marcin Strojny May 14, at 3: Moderator Note — Comment length edited Reply.
SazleyFx November 4, at 8: Vic May 13, at 3: Great article Nial thanks. To other commenters though, what does god have to do with trading? Hi Nial, Thanks for your sharing… I very agreed about time frame to trade.. Cheers nial thanks to your trading strategies im really improving. I ve same problem as Lekan. The table shows 0. Hi Christopher, Please make sure that you have completed these steps: If your currency pair names have a suffix ie.
Hi Henry, concerning the currency meter, i have downloaded the meter and i have enable the DDE server on my fxdd, but when i open the meter it only show 0. With due respect can you pls help me out with this problem. HI Henry, i have tried all what you told me but the problem still remain the same, please is there any suggestion?. Hi Badmus, Please make sure that you have completed these steps: Hi Henry, Thanks so much for sharing your hard work, Its very kind of you!
One thing I think it would be great to see is that if it could plot a graph so that you can see in an instant whether a currency is gaining or losing strength at a particular moment i. Thanks for your time. Gareth, it should not make a difference if you have it installed in more than one computer. Try reinstalling the meter in your laptop. Hi Henry I have downloaded the csm and it appears as an icon on my desktop, yet when i open m4 and the csm no numbers appear in the meter….
I just placed a trade in my demo account by using the meter strategies you talked about in the other video…currently it is in profit so far so good. It should work with every MT4 server. You have to be specific with your problem.
Most issues have been answered in the comments. Just need to read them. I downloaded your currencystrenghtmeter but the colour is not functioning as it should. When it reads like 2. Hi Henry and thanks for the meter. Question, i see you have an address in miami for a business you use are you in miami? I had version 1 and it just stopped working yesterday so have downloaded version 2.
I hope it works… Looking forward to your 10k to 1M.. Hello, I just downloaded the currency strength meter. How can I tell if it is working? Downloaded the Strength meter twice still will not work??? I am using Windows 7, is this the problem?
Andy, it should work with Windows 7. I have it installed in my Windows 7 laptop and it is working correctly. Can you specify what is the error you are getting. I downloaded the programme and allowed the DDE setting ,but I get 0s in all the tabs. Is there something else I missed out? Hi Henry Thanks for the tool and the updates. Very useful I tried to DL V2. What Am I doing wrong? I have just downloaded the meter and is working.
Hi, I just downloaded the meter and am just wondering, will the meter move with change of closing price. My just stuck at same level for 5 minutes. Please could you check what is the problem with the new edition. You can give me the link to your old edition thanks. Please Henry I think the currencystrengthmeter can be downloaded on ones computers if one have more than one?
Also when I open meta trader FXD the whole meter shuts off. What am I doing wrong, please. Wow, what a fantastic little tool Henry. Just loaded up and I can see the advantage immediately. Many thanks for your generosity and ingenuity. Newsprofiteer Currency Strength Meter 2. Text looks too big for screen. I hope in next version you add option for select visual display.
Yesterday I downloaded your software. Thank you again for helping all of us. In one of your videos you had an Excel based version, Would you please setup a download link for it as I do most of my trading with Excel. Henry, thank you very much for sharing your meter, this is being used by a small group in a trading chatroom. We have found it to be an additional invaluable tool.
Hi Henry I watch ur video ur currency strength meter is nice, pls do send me your video on fundamental news, one of 45minute. This is fantastic, you are a very smart guy.
I am working on strategies with it. I emailed your support team with ideas,would be good if you could read through. So what colour should we use? I just double checked. Maybe is your antivirus or internet security software preventing download. I just downloaded the meter and I will try it soon. Thank you so much for your kind heart sharing this tool.
You look for a weak currency low number and match it with a high currency high number and you can either SELL in the direction of the weak or BUY in the direction of the High. What is the best currency to trade? Watch the video Anne on the 7 best uses. The currency Strength Meter is very fantastic. I had lost my from my system. I am therefore requesting for another one.
Thank you for your good work. Henry,I just use your strength meter in 5 days the result its fantastic 5 days i profit without loss,thanks. Hi Henry, I dont know, where is the problem. But the meter is not going. Its posible, that the Problem is in Firewall or language of MT4. Thank you for your answer. I am unsure if the language could be an issue. Hi Henry, can you help me please. I have a problem with the Strength meter. All what is in your quide is ok, bud the Strength meter is not going.
Thank you for your help. I think Mario and Leo might have the same issue. I am going to download the latest build tomorrow from a complete fresh installation and see if that would break the meter. So I checked it and then started the Meter. Many thanks for your very interesting and productive website. Got a problem with Newsproffiteer however.
Comes up for a few seconds then all windows go Blue and stay there. Any way to correct. I have downloaded twice,.. The other possibility is that your broker has a different quote, you have to enter whatever follows the quote in the textbox which will appear after you checked the My broker uses a different quote box.
I have a normal broker and I installed all correctly I mean. Your currency setting is probably set in a different way than us. You probably use comma as a period and period as a comma. If you can change your Regional setting in your Windows settings using US Dollar setitngs, then it would work. Sorry, you answered my question already to someone else. Is it the firewall? What OS do you recommend to best use with this?
I have windows 7 and the meter freezes all the time. I have to close out and reopen quite often when I suspect that it froze. How do we fix this problem if there is a solution? Hi Henry Thanks for taking time to produce a very comprehensive video; explaining the valuable use of an excellent tool. Hi Henry, thanks for this great tool!
Do you think you could reveal the maths formulas behind it? I just downloaded the Currency meter. Is there a text document on how to use it. Pls i would like a copy. The meter is dead.
Why does it depend on MT4 when it runs on its own?? I have the same readings now for 12 hours ,no change. Can you plz help me sir? Thanks 4 this currency strength meter, i tried it and sometimes work but then, i still need to listen to the presentation.
God bless you Henry. Dear Henry I found out that your program shows us the market sentiment and how to chose the best pair to trade. I am using pending orders at both sides now. Would you please help me to find a better way of trading , using your program? My currency Meter does not show any numbers zeroes only. Now i tried to download it to my laptop as well, and have the same problem as Jay have.
It shows zeroes only. Do you have any suggestion? Remember do not enter the quotation marks, just the FXF. Downloaded with no problems,thank you! I look forward to learning the most effective way to use the information. Hi Henry, Thanks for allowing me to try a new tool. I am always looking for techniques and strategies to improve my trading, so I will look forward to using your strength meter. Thank you for the information provided. I downloaded your currency strength meter but I only see 0.
What do I need to do to make it work? Make sure your MT4 platform use standard quote. I recommend using it with FXDD just to try and make sure it works. Thanks for the strength meter Henry. Thank you so much for sharing your currency strength meter.
I currently use it for confirming the signals on my charts and find it quite helpful. Other currency strength meters I have seen have a graphing function which allows the trader to get some idea of the overall pattern. Admittedly these are quite expensive but then so is losing. Puts those of us with limited budgets in a difficult position: Anyway maybe you could look at incorporating this added function into your meter one day.
That was an excellent video with the 7 tips how to use the meter. Thank you so much for that great tool and your generous training. I love the currency strengthmeter action seen on the video I will love to grab a copy of it. September 17, at 9: September 6, at 6: Hi Henry I have downloaded and try to install it but it says it cannot install need to install. August 20, at August 2, at 7: March 20, at Muhammad Saeed Afridi says: November 1, at 9: June 14, at 3: Do I need to install any software before installing the package?
June 7, at 2: May 20, at 6: May 21, at July 11, at 3: Wich timeframe is used when the program counts the strength of the curency? It is possible to change it to higher TF? Somewhere in the config file? June 7, at 1: What is wrong i downloaded it but it worked one day and then nothing. What is the problem? February 24, at January 18, at Thanks in advance for your help. December 16, at 9: Hello, from yesterday the CSM is working again Thank you!!! December 11, at 4: December 13, at 7: December 11, at 3: Hi Is anyone looking into the problem of registration.
Cannot register at all. December 9, at 8: Hello Henry, how other people said the CSM squares are blank……. No numbers shown, just blue or red squares Thank you. December 7, at 2: Thanks for this service and CSM was very helpful tool to have. Hope for the best. December 7, at 4: Hi Just wondering if anyone is looking in the problem. December 7, at December 9, at 3: The program is great when working but equally frustrating when not working.
December 4, at December 4, at 6: December 4, at 2: Hi I could not registered myself what should I do now. September 11, at August 14, at 7: August 16, at 7: August 13, at 4: August 12, at 1: Hi, My CSM does not work. July 13, at 3: CSM just shows red n blue boxes only.
July 12, at 9: July 12, at 8: July 12, at 2: May I know how to solve it? July 13, at 5: July 14, at July 14, at 1: Not working here either. July 16, at 4: August 11, at 6: Mine is still not working: What can I do? October 2, at 9: November 11, at 3: July 7, at July 7, at 2: July 7, at 1: Hi Kelvin, my CSM does not show the values. The boxes are just all red. June 1, at 9: May 29, at 5: May 7, at 4: April 27, at 5: March 5, at March 5, at 2: April 27, at 6: December 2, at 3: December 1, at December 1, at 3: The CSM server was offline overnight for maintenance, please try again, it should work fine now.
December 1, at 6: July 6, at 8: Hi , My CSM all shows also red. How did you solved that , when you faced the problem????? December 2, at 2: December 2, at 4: July 9, at 2: November 6, at 4: October 25, at July 12, at July 4, at June 6, at 8: May 10, at 3: Activate your Account Please provide a valid activation key.
May 12, at 5: May 7, at 3: April 30, at 7: May 1, at 2: April 17, at 3: I have been using another currency meter but this looks so much easier to use.
Thanks and have a great hoiday period. April 11, at 3: April 9, at 3: I could use the meter on your website but that has to be manually refreshed, correct? April 13, at 7: April 1, at March 21, at 4: Keep the good work for forex community Regards Vy.
January 7, at 2: December 13, at 1: December 4, at 7: Do you have intention for CSM to support 64 bit windows 7? December 2, at 8: December 2, at 9: December 2, at 6: December 2, at December 2, at 1: November 29, at 6: November 11, at 1: September 25, at 1: September 26, at 3: Hi Kim, have you tried uninstalling it completely, and reinstall again? October 30, at 1: November 30, at 9: August 5, at January 16, at 4: January 17, at 3: September 5, at 3: Dear Henry, Kindly post your live trading room link.
Dear Henry, I am from Pakistan my country is not paying list of credit card kindly tell me the solution. September 5, at 5: June 26, at June 26, at 2: Hi Francise, the CSM is a standalone application and is not attached to any specific timeframe. June 10, at June 10, at 1: April 30, at 2: April 30, at 3: Onyebuchim, unfortunately, we do not have this available at this time. April 16, at Hi, I am having problems installing the CSM. I get the error: Have checked on the Microsoft Tech: March 14, at 2: March 11, at 2: March 6, at 8: March 6, at 4: February 14, at 8: Any thing else I can try??
February 14, at February 23, at 8: February 24, at 9: January 8, at 6: January 9, at January 3, at 2: January 3, at 4: March 10, at Hello Henry, Just my observation here. I hope the others who experience similar problem will try again with similar approach. March 10, at 2: June 1, at 8: May 28, at 2: May 28, at May 23, at 7: May 21, at 7: Shaheed Md Khaled says: May 21, at 6: Thanks in advance Khaled. May 21, at 5: I have windows vista with all the updates… Please advise Thank you,.
May 21, at 4: May 21, at 3: Hi Beta Version has stopped working — It shows adds, but meter itself no numbers Gil. May 21, at 2: Hello sir, My CSM 3. May 20, at 7: May 20, at I cannot submit the registration form. Cannot register an account after downloading the Currency Strength Indicator? May 20, at 3: I m downloading it version CSM 3.
May 14, at 7: May 12, at May 12, at 2: May 12, at 1: Is it only useful for news time trading or else can we use it any time. May 11, at 5: May 10, at 1: May 9, at May 5, at 2: