Bias and Key numbers

[moneyinthebank]

hello,

I received daily emails with bias and key numbers but i don't understand what's that mean. Is there a link or video that explain what to do in the member area?

When i received, i dont know if i have to buy or sell?

Please, is it possible if somebody explains to me this strategy?

[ForexJoe]

Please go to training materials on website and look under Bias and Key numbers

Also go to Monthly archives and video webinars and look for any Bias and key number training.

I am doing a new training this week and will have on website over weekend covering Bias and key Numbers and ALL spreadsheets

Hope this helps for now, more coming in educational portal on website

Blessings,

Joe

[ForexJoe]

OU Forex Trader website in Bulletin section: New - Quick Start Training

Forex Joe has recorded new “Quick Start” videos explaining the Bias & Key numbers along with all the Probability Factor Spreadsheets. Great Tool for those seeking the basics!

Also located in monthly archive under April 2009 along with Training Materials and Downloads under: The Numbers and click on Quick Start Training

Bias & Key Numbers (Video),
Compressing & Compacting the Channels,
Daily Spreadsheets - Twice a Day (Video),
Hourly Center Points (Video),
Trend Reports (Video),
Probability Factor Spread Sheets - Terms Defined (Video),
The OU Forex Trader Membership Area (Video),
The OU Forex Trader Position Manager (Video), and
OU Forex Trader Forum (Video).
Nine quick start videos to further enhance growth for your review.

I also upgraded a 25 minute webinar video in March 2009 monthly archive titled: Support & Resistance with Bias & Key Numbers (Video)

Ten new video trainings posted for your review. Please post comments and questions in forum to help all members and thanks in advance for your business and effort.

See you in class this week.

Godspeed,

Forex Joe

Chief Forex Strategist

[BillTainter]

A while back I saw the Alert for a Bias number for USD/CAD.
I don't recall the exact date or number.
Now here is what I did with the information.
I use two Stochastics to help me determine pair movement. I plug in two Slow Stochastics with the following settings
SLOW - 14,14,14
FAST - 3,3,3
When I see the #14 Stochs are high and the #3 are high, prices have maxed out and will usually roll over and head down.
If you plot these two stochs on USD/CAD and look at 3/9/09, you will see the #14 is over 80 and #3 has Diverged (higher prices, lower stochs)
EXAMPLE: So if we had a Bias alert of 1.3000 ( I am just making this up for leaning purposes, I don't know what they were) I would say, it is gonna go down, or bounce of the 1.3000, NOT break through and go higher IF 1.3000 was a BIAS number.
As you see that dropped from 1.3000 to 1.1980 in the past few weeks.

I am curious to hear how other students are using these Bias and Key numbers to actually make trades.
How do you use these numbers to make decisions?
What charts are you watching: 15min, 60min, 240min, Daily??
What indicators are you watching? Bollinger Bands, Stochastics??

Thanks in advance for your response
Bill Tainter (EUR/USD)

[CollonFox]

try this one.
need 2 consequtive up candles
compare the high with the close of the earlier with the later. if the earlier has little or no spread but the later has greater spread and the later bar is touching resistence then likely to roll over.

Same for a down candles.
Best on the longer time frames like 1 hr or greater.


collon stalking usd/jpy

[kchan8]

I am a new member. I have gone through the Bias and Key numbers video. However, I have not come across what the differences are between these. Can someone please explain?

[sarath]

These are the various Nos that we receive in the reports:

(1) Bias Nos are values with 'High' probability and if the Bias Nos are broken either on the upside or downside watch for likely moves in that direction. For a confirmation, if the price should close more than 11 pips past a Bias Number in that session, the direction of that trend will continue

(2) Key Nos are nothing but Support and Resistance Nos. With several Key Nos, for me it is bit difficult to filter out the 'noise' and take a decision without getting into whipsaws. I rely on Bias Nos and other candle indicators as well as pivot

(3) Pivot Nos - Optimum point at which you either buy or sell depending on the price. For example, a price above the pivot is bullish and a price below is bearish

(4)M1/M3 - M2/M4 - The predicted lows and highs for the pair - High value and works good

I use these Nos with the daily candles. For example if a price is on the uptrend and close to the Bias No, I would watch for a possible reversal pattern in the candle or look for slow stochastics being in the overbought zone. I use 9,5,5 as the stochastics parameter. The same applies in a downtrend - watch for a bullish reversal candle, stochastics in oversold, and price close to Bias No.

Again, if you are using Stochastics or any other oscillator, if the oscillator value moves beyond the overbought or oversold levels, it signifies a strength in that trend and an immediate reversal is unlikey to occur. In such cases let the 'trend be your friend' .

sarath

E,P, Canadian

[BillTainter]

Ok Sarath, so you swing trade then, you say you are using the Day candle/chart and plot Bias and Key numbers, and reference a Stochastic of 9,5,5. If the day candle has closed above the Bias number, and STochs align for more upward movement, you enter LONG?
What are you doing for Stop Loss etc and Profit targets?
Do you use Fibonacci Extension?
Thanks for your response.

[sarath]

Ok Sarath, so you swing trade then, you say you are using the Day candle/chart and plot Bias and Key numbers, and reference a Stochastic of 9,5,5. If the day candle has closed above the Bias number, and STochs align for more upward movement, you enter LONG?
What are you doing for Stop Loss etc and Profit targets?
Do you use Fibonacci Extension?
Thanks for your response.

Bill


For Stop Loss, I rely on the Pivot, and various Support and resistance Nos from Joe. I don't use much the key nos to avoid whipsaws. As I follow the daily candle, it is very difficult to see how it will close during the day, especially on reversals. Hence, the S/R/Bias is helpful for stop loss

Profit targets are determined by channel boundaries and bias nos from Joe plus a candle reversal. To be honest, the TP3 is always closed at plus 250 to 300 pips or candle reversal whichever is earlier. I should get into the habit of letting TP3 run.

I have never used Fib Nos - would like to learn them . .

sarath
E,P, Canadian

[juyo]

I also am a new member should I be getting Bias and Key numbers emailed to me each day? I don't see them anywhere on the website. Can you advise?

Julie York GBP/USD

[sarath]

Julie

http://www.ouforextrader.com/members/category/spreadsheets

Look for Compacting and Compressing channels document for the bias and key numbers

sarath

[juyo]

Found it, many thanks.
Julie