Average Trading Range Forex

Does anyone have tips on using Vantage Point software for trading the forex market? Have u found it useful?Ta!

I find the short term moving average more predictable to base the trends for the following day or two. What I find unnerving is that it is not as simple as “buy” when the blue line crosses the “black line” as advertised on their website! Especially if the market is quite choppy, this could lead to many whipsaws. I also do not find the neurl index very useful, as at times the market goes in the opposite direction to the neural index. What I do find useful, although this was not suggested by the marketing department, was the use of the short term predictive average crossing the medium term moving average and or the 10 day sma; these proved better as a predictive trend for day trading. I fould the predictive ranges for the next day very misleading and certainly very unreliabe for placing stop losses or take profit levels.

I have Vantage Point and look at the Short Term Predictive relative to the Medium Term Predictive.

First, you’re using Vantage Point to day trade, but they will tell you that Vantage Point is for position trading. Yes, they’re predicted high/low is very accurate (granted, major moves can be outside the range, but how often do you have a huge 1 day move?), but it only tells you the possible high/low, now what the trading pattern for the day will be.

One thing I could suggest is this: Use the Short Term/Medium Term Predictive averages (the pink and light blue lines, I have mine set on the bottom part of the chart) to get an idea of when prices could be changing direction. Also, when you switch from the 10 day or 5 day average to the predicted high/low, you’ll notice that the short/medium predictive lines will be different that from the 10/5 day chart. What I do is when the short predictive (light blue) line crosses the medium (pink) line on both the 5/10 day and predicted high/low chart, is when I get an indication markets will turn (and it’s very accurate).

When that happens, since you day trade, use your technicals on whatever time frame chart you’re using to take trade only in the direction of the crossover. For example, say you’re watching the S&P 500, the market is trending up and you notice that on the 5 or 10 day chart that the short term predictive has crossed below the medium term, and when you switch to the predicted high/low chart that the short has not crossed below the medium predictive, but is about to, wait till the short crosses below the medium predictive on the predicted high/low chart (that is short has crossed below medium on both 5/10 and predicted high/low chart). When that happens, use your technicals to time short entries, don’t go long. In other words, say you’re using a 5 minute chart. If the market is trending up, and you’re technicals give you a signal for a short, then take the short trade.

When the signals show the 5 minute chart starting to turn back up again, close your short, but do not go long, only enter again when you get a sell signal.

Trade in the direction of the larger trend. You should get less whipsaws and will be trading in the direction of the larger trend. When the short crosses above the medium predictive on both the 5/10 and predicted high/low chart, the only take long trades.

Hope that helps.

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Forex Made Easy by Dicks, James Edition ILL, 1 $13.49 Preface xiiiAcknowledgments xv1 What Is the FOREX? 1Introduction 1FOREX Defined 12A Brief History of the FOREX 13Free-Floating FOREX Market 13Major FOREX Participants 142 More FOREX 15Currency Pairs 15Recommended Currency Pairs 16Why Trade the FOREX 19Volume in the FOREX 19Analyzing the FOREX 23How Profits Are Made 23The FOREX as a Two-Way Market 253 Forecasting the Market 29Fundamental Analysis 29Technical Analysis 32Fundamental versus Technical Analysis 334 Currency Options 35Currency Options Introduction 35Options Pricing 36Advantages of Trading Options 37European and American Options 37Exotic Options 38Lock in Profits 40Accelerate Your Profits 415 Creating a Workstation for Trading 43Workstation Location 43Trading Computer and Accessories 44Internet Connection 45Trading Software Programs 45Continuing Education 486 Fundamentals of Trading 51Introduction to Trading Theory 52Trends Defined 53Trend Cycles 53High-Probability Trading 55Sideways, Nontrend Strategy: Wait for Strong Trends 55Uptrend Trading Strategy: But at Dip Bottoms 55Downtrend Trading Strategy: Sell at Rally Tops 58Symmetrical Triangle 58Ascending Triangle: A Bullish Continuation Pattern 63Descending Triangle 65The Falling Broadening Formation 67Support Breakdown or Resistance Breakout 67The Double Bottom 68Head and Shoulders (Crown) 707 Economic Fundamentals 73Introduction 73Economic Indicators 74Inflation Indicators 76Employment Indicators 78Consumer Spending Indicators 78Leading Indicators 798 Introduction to Technical Analysis 81Technical Analysis Defined 81Technical Analysis Assumptions 82Bar and Candlestick Charts 83Technical Analysis Terms 86Market Patterns: Uptrends, Downtrends,and Sideways Trends 87Support and Resistance 95Moving Averages 959 Advanced Trading Charts and Indicators 103Tools for Technical Analysis 104Bollinger Bands 104Directional Movement Index (DMI) 107Stochastic Indicator 107Moving Averages (Simple, Weighted, and Exponential) 110Moving Average Convergence/Divergence (MAC/D) 116Momentum 119Relative Strength Index (RSI) 119Rate of Change (ROC) 122Volume 12210 Fibonacci Numerical Sequences and Elliot Waves 125Introduction 125Fibonacci Rectangles and Shell Spirals 127Fibonacci Retracements 128Fibonacci Extensions 128Fibonacci Time 129Fibonacci Circles 130Elliot Waves 13511 Money Management Principles 139Trade with Sufficient Capital 140Exercise Discipline 140Be Patient and Persistent 141Employ Risk-to-Reward Ratios 141Follow Trading Rules 143Accept Losses 144Always, Always Use Stops 144When In Doubt, Stay Out 145Never Overleverage Your Account 145Make Realistic Goals That Can Be Achieved within Reason 146Always Trade with Money You Can Afford to Lose 147Protecting Your Profits 147Keep a Trading Log 14712 Six Steps to Success 149Identify Current Long- and Short-Term Trendsand Which Trend to Trade 149Check News and Market Announcements 150Identify Support and Resistance Levels 151Use Studies and Indicators for Entry 151Buy at Dip Bottoms (Uptrends) or Sell on