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Trading Made Simple the right way, and other trading lessons 331 replies

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Trading Made Simple

Quoting GilR
{quote} Erl--- thank you for that. I will now add the MBL to chart (dashed) to see how it reacts on my daily charts. May save my beacon.
Sorry pls whats MBL stand for?
Quoting wnabo
{quote} Sorry pls whats MBL stand for?
Attached Image (click to enlarge)
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Regards
Quoting wnabo
{quote} Sorry pls whats MBL stand for?
MBL is the yellow line and is called the Market Base Line.
Hi everybody,

today, these is the NFP NEw. Does some one try to trade before the new (e.g. this morning, LO). Or may be, for today, it is very dangerous to trace before the new. We should wait volatility new finish and then look for good entry point?

Thank come from a newbie


cheers
Such a dead market. No trade for me this 6AM. Looking at EA but nothing is moving across all pairs.. Calm before the storm i recon. NFP Friday!!
Quoting laurent2b
Hi everybody, today, these is the NFP NEw. Does some one try to trade before the new (e.g. this morning, LO). Or may be, for today, it is very dangerous to trace before the new. We should wait volatility new finish and then look for good entry point? Thank come from a newbie cheers
For a newbie, I'd recommend you demo trade today because there is British news and then the "biggest news of the month" following that (4 hours later or so).

I use the analogy of "surfing" for trading. Right now everybody is sitting on their boards waiting in the water for the "big one." If you're new at this, I'd stay on the beach and have a beer. Much more fun than getting killed.
Quoting kevinace
{quote} Hopefully its a head and shoulder (reversal) formation that is forming .. I entered on the break of the counter trend line and the market has been going sideways ever since. If the market takes out 1.6919 (high of the master candle/ head ) then the bullish run continues if not it has no choice but go south ... {image} Kindest
Yes it could go either way but I've just noticed something, which isn't strictly TMS but might be of interest to traders (this is probably pretty obvious to experienced ones).

Master candles tend to create supply and demand zones, and this zones tend to be created 'at the extremes' of moves, when the market goes beyond say its ADR or beyond support / resistance and you get a sudden pullback, and PA retreats very quickly suggesting a serious supply/demand imbalance in that area.

My theory is if the MC creates a demand zone then the probability is that PA will break upwards, and if it creates supply, downwards. The problem is if there is little trend or momentum, it can create tightly packed and consolidated and even nested zones.

The elipses on my chart show MC setups.
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this morning, one trade only. Long G/Cad. Still keeping my G/U, G/A and E/A long trades
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the cautious seldom err....C
E/aud daily chart with swing highs highlighted on price and tdi and a trendline. Looking for an uptrend continuation . Targets are high
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the cautious seldom err....C
3 trades taken....was outside...now got back....looking good

EURUSD...GPBUSD....USDJPY
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Sad i'm not trying to understand PA
Quoting omonisha
3 trades taken....was outside...now got back....looking good EURUSD...GPBUSD....USDJPY {image}
congratulations
GOLD.....TDI Bounce...
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Sad i'm not trying to understand PA
Quoting omonisha
3 trades taken....was outside...now got back....looking good EURUSD...GPBUSD....USDJPY {image}
Did you trade the daily? Can you let me know the reasons for these 2 trades, E/U and G/U. Having a very bad day with internet connection. 10 minutes after NFP connection was very2 unstable but I managed to take a long on G/u on the 15mtf despite horrendous connection. Logged on just a few mins ago and connection seems ok now
the cautious seldom err....C
Quoting hostwey
{quote} Yes it could go either way but I've just noticed something, which isn't strictly TMS but might be of interest to traders (this is probably pretty obvious to experienced ones). Master candles tend to create supply and demand zones, and this zones tend to be created 'at the extremes' of moves, when the market goes beyond say its ADR or beyond support / resistance and you get a sudden pullback, and PA retreats very quickly suggesting a serious supply/demand imbalance in that area. My theory is if the MC creates a demand zone then the probability...
Can someone please tell me what defines a Master Candle?

Thanks!
Quoting omonisha
3 trades taken....was outside...now got back....looking good EURUSD...GPBUSD....USDJPY {image}
Can you explain why you took the trades because I can't see the setup myself?
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Quoting stevepatt
{quote} Can you explain why you took the trades because I can't see the setup myself? {image}
Quoting pips29
{quote} Did you trade the daily? Can you let me know the reasons for these 2 trades, E/U and G/U. Having a very bad day with internet connection. 10 minutes after NFP connection was very2 unstable but I managed to take a long on G/u on the 15mtf despite horrendous connection. Logged on just a few mins ago and connection seems ok now
Trades taken watching the real price candle...Hope the below image can explain

Regards
Omonisha
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Sad i'm not trying to understand PA
Quoting omonisha
3 trades taken....was outside...now got back....looking good EURUSD...GPBUSD....USDJPY {image}
Quoting omonisha
GOLD.....TDI Bounce... {image}
Nice PA! If the moves follow and PA closes beyond 5MA, Monday looks like a nice TMS entry on first 3 you took. Do you enter hammers/morning stars half-way of confirmation candle?
Quoting timginter
{quote}{quote}Nice PA! If the moves follow and PA closes beyond 5MA, Monday looks like a nice TMS entry on first 3 you took. Do you enter hammers/morning stars half-way of confirmation candle?

GPBUSD?...yes
Sad i'm not trying to understand PA
Quoting omonisha
{quote} {quote} Trades taken watching the real price candle...Hope the below image can explain Regards Omonisha {image}
Hi Omonisha,

I'd don't see the trades you have taken are following TMS rules you got very lucky that NFP went your way.

The setups you have highlighted are weak even if you are following just plain PA.
Here's a lousy entry, not TMS but lousy anyway and the luck of the Irish on the NFP candle.

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Per Ardua Ad Astra - Through Adversity To The Stars
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