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Trading Made Simple

  • #50,181
  • Jan 16, 2015 3:51pm Jan 16, 2015 3:51pm
Quoting Tanglewood
{quote} Hi, if you like 1 min charts you might try a great new thread called 'Scalping the Mini Dow off the M1 charts'. Great analysis, videos etc. The guy is a very good pianist too. I think his name is Jason Chase, sounds a nice guy and on YouTube too.
Aah nono .. thanks .. but I prefer higher timeframes . H 1 very rare .. h4 and daily is nice . I just asked .. but thanks ..I wish you all a nice weekend ..
Risiko birgt immer auch die Chance.
  • #50,182
  • Jan 16, 2015 4:03pm Jan 16, 2015 4:03pm
Quoting wyley187
{quote} Thanks skynight, I think I will be able to get my money out, sounds like FXCM got bailed out. I will move my money to Citigroup, They are a bank and not just a broker house...good advice on the withdrawing of funds periodically though. Now, since I've never used an MT4 platform in my life I have to get acquainted with all those ins and outs. I don't even know where to begin to setup my charts or how the platform operates. At this point though I am just so relieved that I will get my money back....This was all a valuable lesson

You are most welcome !!!

Keep in mind that Saxo broker is a bank, and they got hit hard by the SNB news too. So, just because a broker is bank, doesn't mean that you can't lose your capital with them too. Spread out your "risk" by diversifying with several brokers, just like you'd diversify a 401k account between large cap, medium cap, small cap, bond funds, and fixed income.

Re: MT4.... get thee to youtube this weekend ! You'll have a handle on MT4 basics and how to set up charts in no time.
  • #50,183
  • Jan 16, 2015 4:35pm Jan 16, 2015 4:35pm
Thank you everyone for you very kind words in posts, emails and private messages it has brought a lot of comfort so thank you!!

I've done all I can do here for the moment until the funeral which unfortunately is still going to be a couple of weeks away, so I think the best thing I can do now is return to some trading next week, trying to keep myself occupied again. I'll see you all next week.

Sknight don't worry, I never leave trades in when I'm not watching, or very rarely, and I don't really like the chf pairs because of their tendency to suddenly move 500 pips with no warning, so I didn't get caught in anything, I feel very sorry for those that did though and it must be a very worrying time with uncertainty with brokers etc but at least with the brokers that are regulated in the UK there is very little chance of losing your money or waiting years to get it.

See you all next week.
  • #50,184
  • Jan 16, 2015 4:41pm Jan 16, 2015 4:41pm
Quoting lastingwell
Thank you everyone for you very kind words in posts, emails and private messages it has brought a lot of comfort so thank you!! I've done all I can do here for the moment until the funeral which unfortunately is still going to be a couple of weeks away, so I think the best thing I can do now is return to some trading next week, trying to keep myself occupied again. I'll see you all next week. Sknight don't worry, I never leave trades in when I'm not watching, or very rarely, and I don't really like the chf pairs because of their tendency to suddenly...

Excellent to hear that you did not get caught in that SNB news !!! I was quite concerned for you.

Continue to take good care of yourself. I hope you are doing as well as possible given the sadness of your fathers passing.

I look forward to seeing you back on the TMS thread.
  • #50,185
  • Jan 16, 2015 5:41pm Jan 16, 2015 5:41pm
BLACK THURSDAY 15 January 2015

The rabbit hole goes deeper.
The numerous ongoing discussions in forums about brokers, the impact on brokers, etc.
There will be more insolvency cases, bail-outs, takeovers, mergers, etc. we will read them all over the next weeks and months to come.

What you need to look at is do you have a contingency plan in your trading business. If you have one, then you need to activate your contingency plan.
If you do not have one, then it is time to consider to make one in your overall business plan.

I learned for the MFGlobal experience. It took time to get my money back. It was time consuming and caused disruption to my trading. Not to mention the anxiety over open trades, delays in getting help-desk response, broker' customer service vanished,etc. At the end of it, I got back my money less the losses.

If you have substantial funds held in deposit with your broker, you have to decide next week when business resumes. Go make a withdrawal of your funds. See how your broker process your withdrawal. If you feel uncomfortable with them, by all means close your account.

The first rule in this trading business is "Preservation of capital". You need to think of ways how you mitigate the risks under this rule.
It will not be so simple matter of broker selection, diversification of brokers, regulated brokers, etc.

Take Care!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #50,186
  • Edited 6:16pm Jan 16, 2015 5:53pm | Edited 6:16pm
Quoting likica
GU is diving off 200ma into DOLboring moves today NJ s doing the same,, hope it set new low fr prev H4 apb. might take some PT
GA BE+com got to about 20pips - it was whip-lash @ the LO [short-trap me ]

With GU the DH and DL in the Asian channel was very narrow so GU went through its whip-lash break-out fake-out (LOL) - broke-out high then smashed the Asian DL - this setup up a beautiful TDI cross EA kinda wanted to do the same thing but was tied... LOL!

Just try and shrug this W off...

Quoting likica
EU has been good to me. got my bag of +60 green from this short AU PT has just filled for +35 (can't remember where I got that odd number from). I entered it from H4 ) {image} {image}
Congrats - was this from some red news... [sorry, fell asleep... ]
  • #50,187
  • Edited 6:17pm Jan 16, 2015 5:58pm | Edited 6:17pm
Quoting lastingwell
Thank you everyone for you very kind words in posts, emails and private messages it has brought a lot of comfort so thank you!! I've done all I can do here for the moment until the funeral which unfortunately is still going to be a couple of weeks away, so I think the best thing I can do now is return to some trading next week, trying to keep myself occupied again. I'll see you all next week. Sknight don't worry, I never leave trades in when I'm not watching, or very rarely, and I don't really like the chf pairs because of their tendency to suddenly...
Will be Great(!) to have you back LW - so glad to read you did not trade the CHF - i did recall you saying something about that awhile ago so i was half sure you were not involved...
  • #50,188
  • Jan 16, 2015 6:05pm Jan 16, 2015 6:05pm
Quoting wyley187
{quote} Thanks skynight, I think I will be able to get my money out, sounds like FXCM got bailed out. I will move my money to Citigroup, They are a bank and not just a broker house...good advice on the withdrawing of funds periodically though. Now, since I've never used an MT4 platform in my life I have to get acquainted with all those ins and outs. I don't even know where to begin to setup my charts or how the platform operates. At this point though I am just so relieved that I will get my money back....This was all a valuable lesson
Thats good news wyley187 mate congrats!
  • #50,189
  • Jan 16, 2015 6:07pm Jan 16, 2015 6:07pm
Quoting lorbax
{quote} Guys!!! I haven't gone away, just took some time off from posting, but still reading everything and trading too (no trading, no eating ) The reason is simply because it's getting cold here in northern Italy, I live in the country and I need to take care of chopping wood, fixing part of the roof and a new insulation, so that I keep on trading in comfort with a fireplace on Hope you guys were all safe on yesterday, it was a tough day in volatility and spreads, I didn't trade at all, only a couple of TMS scalps on OIL, but that's it....
Hi lorbax, it sounds like you live an alternative lifestyle... wow... that is so cool. Yes, please post when you can cause we need your input mate
  • #50,190
  • Edited 6:32pm Jan 16, 2015 6:15pm | Edited 6:32pm
Quoting Ballistical
2015 Week 3 - Trade Summary: 5 trades in total: - 1 win - 3 BE - 1 Loss A slightly disappointing week, however after this week's events perhaps I should be grateful. A total of 25 pips net for +2% on to my account. Monday: Standard LO entry on second blue candle following TDI cross of green over red... easy pips. (+50, +4%) Tuesday: LO entry on second red candle. Classic LO fake-out candle. Exited at break even. Price didn't seem to move too much at all on Tuesday. Wednesday: Asian session made a strong move up to touch the 200 EMA. Price was rejected...
Hi Ballistical, you may well say it has been a poor week but your management is a clear winner mate - i think you will win in the long run with this very consistent approach to trading. EA was dead in the water LO - PA wont help cause it will just whip around trying to find some momentum... Phx62 also looks at GU as this has some great characteristics that complement EA in some ways I wanted to take GA short but just got taken out in the whip-lash... LOL!

Have a good Weekend all and take so time to relax... may be have a nice refreshing beverage
  • #50,191
  • Edited 7:52pm Jan 16, 2015 7:35pm | Edited 7:52pm
Quoting Ballistical
2015 Week 3 - Trade Summary: 5 trades in total: - 1 win - 3 BE - 1 Loss A slightly disappointing week, however after this week's events perhaps I should be grateful. A total of 25 pips net for +2% on to my account. Monday: Standard LO entry on second blue candle following TDI cross of green over red... easy pips. (+50, +4%) Tuesday: LO entry on second red candle. Classic LO fake-out candle. Exited at break even. Price didn't seem to move too much at all on Tuesday. Wednesday: Asian session made a strong move up to touch the 200 EMA. Price was rejected...
Good luck into next week, a positive week still, u charts are always a help learning tool, let me ask you about the blue boxes that u draw on TDI, do you draw them before entering the trade as reference just after the trade is finished ?
I Have Learned to Take Some Losses to Make Profits
  • #50,192
  • Jan 16, 2015 7:58pm Jan 16, 2015 7:58pm
Quoting likica
EU has been good to me. got my bag of +60 green from this short AU PT has just filled for +35 (can't remember where I got that odd number from). I entered it from H4 ) {image} {image}
I have always asked my self how do you manage those DD, when ur into a trade, and most than not, the trade work at the end, call it psychology, experience, blah blah, when do you tell your self not to panic, stay tight into the trade, ie based on structure, or whatever, and when its past all the boundaries and time to get a hit.
I Have Learned to Take Some Losses to Make Profits
  • #50,193
  • Jan 16, 2015 8:28pm Jan 16, 2015 8:28pm
Life Line ............

http://www.bloomberg.com/news/2015-0...iss-shock.html
  • #50,194
  • Jan 16, 2015 8:56pm Jan 16, 2015 8:56pm
Quoting adikashyap
Life Line ............ http://www.bloomberg.com/news/2015-0...iss-shock.html

that is one life life, to call a friend but there is debt to pay
so we will see FXCM floating on for some time.

after ibfx close their MT4 platform customers, my account was move to FXCM. So I stayed with them since Sep last year and I did not have any bad experience nor faced problem trading with them. I made my withrawal before my year end vacation and I was planning to look at add another big name broker for my other system when I resume trading this month. I still have two other non-MT4 brokers whom I used for many years. So it is business as usual.

there will be brokers who also need life lines too.

those who do not have deep pocket friends to throw them a life line, what will happen to them?
many of them are relatively new entrants in this industry.
last 3 years we saw many new players in this brokerage business.
so you make that crucial decision next week and withdraw your hard-earned money and keep it safe.

well, 2015 will be another year for shake-up in the brokerage sector.
study carefully the developments in the next few months.

take precaution and chose your brokers carefully.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #50,195
  • Jan 16, 2015 9:48pm Jan 16, 2015 9:48pm
Quoting TheScorpS
{quote} I have always asked my self how do you manage those DD, when ur into a trade, and most than not, the trade work at the end, call it psychology, experience, blah blah, when do you tell your self not to panic, stay tight into the trade, ie based on structure, or whatever, and when its past all the boundaries and time to get a hit.

TSS,

The 'secret' is in the Exit Strategy which must be tested and proven over a long time and number of trades.
Exit Strategy is not when we see on our charts, like when TDI goes flat, we exit, TDI hooks over we exit, etc.
Those are what I consider as technical exits. An Exit Strategy also consider and includes other elemnets of a trading system, such as the Money and Risk management, trade management aspects. It also must consider the profile of the trader, his personality, his lifestyle, hist risk appetite, and lots of other factors which has impact on his mental state of mind when he trades. Having a component in Exit Strategy that will help the trader to keep his emotions in check when the trader exercise discipline in following his Exit Strategy for his trading system. An Exit Strategy is an integral part of a trader's winning system.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #50,196
  • Jan 16, 2015 10:13pm Jan 16, 2015 10:13pm
Quoting Ballistical
2015 Week 3 - Trade Summary: 5 trades in total: - 1 win - 3 BE - 1 Loss A slightly disappointing week, however after this week's events perhaps I should be grateful. A total of 25 pips net for +2% on to my account. Monday: Standard LO entry on second blue candle following TDI cross of green over red... easy pips. (+50, +4%) Tuesday: LO entry on second red candle. Classic LO fake-out candle. Exited at break even. Price didn't seem to move too much at all on Tuesday. Wednesday: Asian session made a strong move up to touch the 200 EMA. Price was rejected...
http://www.forexfactory.com/attachme...1&d=1421436715

Hi Ballistical,

First, I would like to thank you for posting your London session H1 trade. I think your posts will help many traders here who want to trade the London session on intraday basis.

I hope you do not mind that I make some comments later. I see you have managed to execute your entries very well in all your recent posts.
For this week's trades, you exited 3 trades at BE in the same H1 candle. I think you use THV Cavemanager to move your SL to BE when market move in your favour +25pips. Is this correct?

Also, can your confirm your broker server time if that is GMT+2.

I will look into your technical exit strategy and make further comments after I hear from you the above questions. I may have a solution which can help you improve your win rate and also the %win overall.

Thanks.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #50,197
  • Jan 16, 2015 10:52pm Jan 16, 2015 10:52pm
Quoting Ballistical
2015 Week 3 - Trade Summary: 5 trades in total: - 1 win - 3 BE - 1 Loss A slightly disappointing week, however after this week's events perhaps I should be grateful. A total of 25 pips net for +2% on to my account. Monday: Standard LO entry on second blue candle following TDI cross of green over red... easy pips. (+50, +4%) Tuesday: LO entry on second red candle. Classic LO fake-out candle. Exited at break even. Price didn't seem to move too much at all on Tuesday. Wednesday: Asian session made a strong move up to touch the 200 EMA. Price was rejected...
Ballistical,

It is much easier for me to see the moves on my chart.
Give it a try & let me know what you think!
sj
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUDH1.png Size: 62 KB
  • #50,198
  • Jan 16, 2015 10:59pm Jan 16, 2015 10:59pm
Quoting robcole
hi there tms-community, since december '14 i'am a fan of this method, but because i can only trade at work (uuups ) i don't have much time to study 3-4 timeframes of 4-6 pairs. I was searching for a TDI-Dashboard but nothing meets my needs. I decided to try to make one for me, unfortunately based on a decompiled indi i found some time ago @ the W W W ... Its ready now, but because i think its helpful for others at this wonderful thread i have asked the coder of the original indicator for his permission to share this tweaked version as...
Robcole,

Nice meeting you & welcome to Tms.

Thank you for the indicators. I like different
level indicators, as I think levels are super important.

Once again welcome to Tms...I hope you enjoy it!

sj
  • #50,199
  • Jan 16, 2015 11:11pm Jan 16, 2015 11:11pm
Quoting lastingwell
Thank you everyone for you very kind words in posts, emails and private messages it has brought a lot of comfort so thank you!! I've done all I can do here for the moment until the funeral which unfortunately is still going to be a couple of weeks away, so I think the best thing I can do now is return to some trading next week, trying to keep myself occupied again. I'll see you all next week. Sknight don't worry, I never leave trades in when I'm not watching, or very rarely, and I don't really like the chf pairs because of their tendency to suddenly...
Lastingwell,

Come join us in trading!

Funeral's are a very difficult time & it takes a long time to
recover from them. Please join us & hopefully we can help you through
the grieving process. If their is anything we can do for you, please let
us know...

I'm so sorry for your loss! Be strong...smile, he is in a loving place

sj
  • #50,200
  • Jan 16, 2015 11:29pm Jan 16, 2015 11:29pm
Quoting TheScorpS
{quote} I have always asked my self how do you manage those DD, when ur into a trade, and most than not, the trade work at the end, call it psychology, experience, blah blah, when do you tell your self not to panic, stay tight into the trade, ie based on structure, or whatever, and when its past all the boundaries and time to get a hit.
I did ask myself lots of times too and my answers are always come back to what I put up there for (my PAC/Guppy to guide me) and HTF (H4, H1) (LW once advised me how to stay in). The worst thing to do is looking at your money going up and down during the trades, instead of looking at chart to see how the market behaves and act accordingly.

Psychology plays the biggest part in trading which I called we are specialists, and specialists don't get pay normal rates and of course there a price to become one.
Some are confident to trade with naked charts (I m impressed), I stick with my bodyguard for now.
Have a great weekend to all.
L
Appreciation is the key to wealth and happiness
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