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Trading Made Simple

  • #18,681
  • May 3, 2013 5:45pm May 3, 2013 5:45pm
My trades from today, all taken at 9 am cest, all closed at 5 pm cest

Finally got the screens uploaded.

Attached Image(s) (click to enlarge)
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  • #18,682
  • May 3, 2013 5:47pm May 3, 2013 5:47pm
Quoting Greenb
{quote} Why not switch to 1h chart if you really want to confirm if those candle are the same. Every broker start their hourly candle at the turn of hour. That said, dissapointing night for me. Sl at BE apparently is not a good idea. Trade was taken out and the price goes back up 140 pips. If only i convert my hourly trade to 4hour trade i would have had extra lunch money lol
Greenb,

You preserve your trading capital and that is very important as traders and when there is NFP news ahead. So you did the right thing.

You took a H1 trade, you manage that as H1 trade with SL and TP1,TP2...and BE. It was nicely done!

Sure, that was a H4 setup too and that was not your intended trade, right? So let this be a lesson learn - Have a Plan A, and a Plan B.

Your trade based on H1 has its own risk R. If you had converted that trade to H4, then the risk R has changed too, Think of this too.

It was a question : to BE or not to BE?

Good Trade anyway. Welldone!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #18,683
  • May 3, 2013 6:26pm May 3, 2013 6:26pm
Quoting Greenb
if there is 2 things i learned this week trading 1. there are always trades on 4h and its much safer than 1h trade 2. let the winner run (convert 1h trade to 4h trade) just today alone there are 4 trades that could have been taken stress free easily total-ing at 412 pips and if those trade are taken with 1 lot each...well that's easily enough salary for the month. all in 1 day of trading. {image} {image} {image} {image}

Greenb,

Good point made.

When you reach a consistent win-rate of 70% above, you can simply trade standard lots without having to work on positions sizing for every trade based on initial SL 'R'. This is how Big E traded and he has high win rate because of two things-
1) Entry - he picks only A+++ entries... with PATIENCE, TIMING and DISCIPLINE.
2) Exits - he cut loss short, very few pips when PA is showing him that the market is no longer in his favour, he also take some pips for profits when he see PA not going anywhere after some time and not in his original plan..

Regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #18,684
  • May 3, 2013 6:41pm May 3, 2013 6:41pm
Quoting croopskee
My trades from today, all taken at 9 am cest, all closed at 5 pm cest Finally got the screens uploaded. {image} {image} {image}
croopskee,

First, your charts are nicely setup for TMS trading with only few personalised extras. That's good.

You chose to trade the most dangerous day of the month - NFP.

And usually the tail-end of the week isn't the best time for opening new 4H swing trades. But is can work out for some pips just before NY closesn Fridays. I prefer no to hold opne trades over the weekends when there are major events / meetings for example those G7/G20 economy meetings, etc.

Anyway, you trade taken were in the general direction of the TDI and look ok. But the initial SL is my question when you enter at that hour mention and ahead of NFP.

You also pick 3 pairs - EU and GU are correlated, while UChf is inversely correlated to the other two. This may not work out in trending market type. But when market is mix with one pair trending and other in wide range consolisation, some short term trades may work out to be good trades in same direction.

Nest week, we start a full new month of 4 complete weeks to trade 4H. I am sure we can get 5 good trades with minimum 2R each.

Do your BIG Picture planning this weekend. Draw those S&R for these 3 pairs.
Learn how to use R and R-multiples in your trading.

With these, we all wil be in business again next week.

Have a good Weekend and Be Blessed.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #18,685
  • May 3, 2013 6:56pm May 3, 2013 6:56pm
Quoting emmanuel7788
{quote} Hallo Fame of me, Happy to see your post here and a good trade taken. Did you see your D chart and see how the PA was playing the month of April? In trending market type, the PA often break the Prev W High/Low and will target the Fibr- 127%. However, as market reached some point whenmarket make new highs, the weekly range get smaller, however, PA will still break the Prev W High/Low and looking for TP mid-point between the Prev W High/Low and the Fib-r127% is always good. ... usuall Fib +110% level roungly. See my GJ D Line Chart below....
Hi emmanuel,
thanks for your reply.

The last weeks i read the thread again and again.
And after a while, i think, i got the magic from the tdi.
Also i was trying to trade it in h1, but i have to say, i think i start to love the h4 trading. Stress free trading.

Dir auch ein schoenes Wochenende, und vielen Dank fuer deinen grossen Einsatz hier im Thema.
  • #18,686
  • Edited 12:55am May 4, 2013 12:40am | Edited 12:55am
I have been on and off with many different systems, especially this one. Many failed me but im going back to this one.

This weekend i will be analyzing the charts to figure out the TP for every entry I make. So far from what I have analyzed, not every entry will give you 4 straight bullish/bearish bars or more on a entry after TDI crosses. So far it looks like best get 30-50 pip TP every time you enter a trade after TDI crosses.

BUT before a TDI crosses on 4H chart...ALWAYS check the 1H charts if it is heading toward the direction TDI is telling you to enter.

Will be much more active in this thread to help not only myself...but others.

RxJano
  • #18,687
  • May 4, 2013 1:42am May 4, 2013 1:42am
Here is my first attempt at doing the Big Picture. Is there anything I missed out that I should have included in the charts?
Attached Image(s) (click to enlarge)
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  • #18,688
  • May 4, 2013 2:18am May 4, 2013 2:18am
Quoting irishtoffy
Here is my first attempt at doing the Big Picture. Is there anything I missed out that I should have included in the charts? {image} {image} {image} {image}
I personally love having a SHI Shannel up.
Attached Image (click to enlarge)
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  • #18,689
  • May 4, 2013 6:36am May 4, 2013 6:36am
Longed EUR/JPY yesterday after USD news, notes on the chart

I'm for the first time and for the first week being on the positive side with + 200 pips , I had one looser for - 22 pips , total for the week + 200 pips

I hope things continue this way on, just let's make next week a positive week , which is possible with hard working and positive attitude


Notes on the chart
Attached Image (click to enlarge)
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I Have Learned to Take Some Losses to Make Profits
  • #18,690
  • May 4, 2013 6:44am May 4, 2013 6:44am
Quoting emmanuel7788
{quote} Hallo Fame of me, Happy to see your post here and a good trade taken. Did you see your D chart and see how the PA was playing the month of April? In trending market type, the PA often break the Prev W High/Low and will target the Fibr- 127%. However, as market reached some point whenmarket make new highs, the weekly range get smaller, however, PA will still break the Prev W High/Low and looking for TP mid-point between the Prev W High/Low and the Fib-r127% is always good. ... usuall Fib +110% level roungly. See my GJ D Line Chart below....
Emmanuel,

This is the first time I've come across someone who trades similarly to a system I have developed. I hope you manage to finalise your TP and SL because I'm yet to find anything more reliable and simple to implement.

NineKaye
NineKaye
  • #18,691
  • May 4, 2013 6:53am May 4, 2013 6:53am
Quoting TheScorpS
Longed EUR/JPY yesterday after USD news, notes on the chart I'm for the first time and for the first week being on the positive side with + 200 pips , I had one looser for - 22 pips , total for the week + 200 pips I hope things continue this way on, just let's make next week a positive week , which is possible with hard working and positive attitude Notes on the chart {image}
Well done and a good entry scorps!
Consistency is key to becoming a profitable trader.

2 more days to market open guys...
Have everyone done their big picture analysis and reflections on your last week trades?
Both winners and losers.
What I did well..
What I could improve on..
Did I follow my trading plan?
What is my plan for next week?

One reflection I would like to share this week is to avoid leaving an open trade before huge news announcements like ECB and NFP.
Huge movements could take you out on your stops as you can see on this week's movements.

Cheers!
Harlem
  • #18,692
  • May 4, 2013 9:06am May 4, 2013 9:06am
Quoting Harlem
One reflection I would like to share this week is to avoid leaving an open trade before huge news announcements like ECB and NFP. Huge movements could take you out on your stops as you can see on this week's movements.
This is always the great dilemma. If the stops are far enough to give room for the first few seconds of big fluctuation, sometimes it worth to keep orders opened to be in the right big jump ... Risky but ...
MT4/MT5 EAs/Indicators/Alerts coder
  • #18,693
  • May 4, 2013 11:01am May 4, 2013 11:01am
Quoting Harlem
{quote} Well done and a good entry scorps! Consistency is key to becoming a profitable trader. 2 more days to market open guys... Have everyone done their big picture analysis and reflections on your last week trades? Both winners and losers. What I did well.. What I could improve on.. Did I follow my trading plan? What is my plan for next week? One reflection I would like to share this week is to avoid leaving an open trade before huge news announcements like ECB and NFP. Huge movements could take you out on your stops as you can see on this week's...
Thanks a lot, now I will try to replicate last week attitude into this week and see how things develp
I Have Learned to Take Some Losses to Make Profits
  • #18,694
  • May 4, 2013 11:09am May 4, 2013 11:09am
What is the best time for entry, is it on the close of candle 1 or 2 after the TDI cross, or is it ok to enter while the candle is still open?


Thanks


Blueman
  • #18,695
  • May 4, 2013 4:51pm May 4, 2013 4:51pm
Quoting Blueman1887
What is the best time for entry, is it on the close of candle 1 or 2 after the TDI cross, or is it ok to enter while the candle is still open? Thanks Blueman
Hi Blueman,

If you have read the thread fully, you will notice that it is the opening of the 2nd candle is best to enter from. If you are experienced enough you can actually enter on the first candle opeining after a big move on the opposite direction or if you see a Hanging man or a hammar candle. It is best if you are still gaining confidence to enter on the opening of the second candle.

That was how elfrence used to trade. It all comes down to patience and more patience and even more patience and following some simple rules. It helps if you are good with Fibonacci Ratio and Candle Patterns. If you are, try to look at the Key Levels 50% 618% 32% and the Extension 127%. Alot happens at these points. When you add support and Resistance Levels to all of those then you can trade them all with greater accuracy.

All the best and trade safe.
Born to rule my Economic World and Make a Difference!
  • #18,696
  • May 4, 2013 5:11pm May 4, 2013 5:11pm
Thanks Sharemaster I'll check that out.
  • #18,697
  • May 5, 2013 12:12am May 5, 2013 12:12am
I have a tool where I monitor the cross on H4 for TMS & X-man.
It's Sunday today so I did some works to share this tool to everyone: http://www.googleforex.com/ (dont know what to name it so I chose google & forex)

It lists all the cross on all the pairs, H4 tf, during the last 2 trading days. Update every hour. Simple as that.

I have a similar page where I put analysis for each cross when they happen, but dues to security issue it only runs on local PC. Will see if I can share them in the future Hope it help.
back... and more dangerous.
  • #18,698
  • May 5, 2013 1:04am May 5, 2013 1:04am
Quoting emmanuel7788
{quote} Greenb, You preserve your trading capital and that is very important as traders and when there is NFP news ahead. So you did the right thing. You took a H1 trade, you manage that as H1 trade with SL and TP1,TP2...and BE. It was nicely done! Sure, that was a H4 setup too and that was not your intended trade, right? So let this be a lesson learn - Have a Plan A, and a Plan B. Your trade based on H1 has its own risk R. If you had converted that trade to H4, then the risk R has changed too, Think of this too. It was a question : to BE or not...
Hi emmanuel,
Yeah your right. I took it as hourly trade at that time. Even went as far as to monitor it hourly.
What i should have done though is to have plan B just like what you said. I supose i'll spend the rest of the week formulating plan B and C and D
Hope you have a great weekend
Daniel
  • #18,699
  • May 5, 2013 2:40am May 5, 2013 2:40am
Quoting kbp
I have a tool where I monitor the cross on H4 for TMS & X-man. It's Sunday today so I did some works to share this tool to everyone: http://www.googleforex.com/ (dont know what to name it so I chose google & forex) It lists all the cross on all the pairs, H4 tf, during the last 2 trading days. Update every hour. Simple as that. I have a similar page where I put analysis for each cross when they happen, but dues to security issue it only runs on local PC. Will see if I can share them in the future Hope it help.
That's impressive kpb!
I like your domain name too.
It could be useful for mobile traders on the go looking for TDI signals when they do not have access to their trading platform.
I was hoping that the pairs could be configurable according to what a trader trades, and the GMT offset as well.
Nice work

Quoting FerruFx
{quote} This is always the great dilemma. If the stops are far enough to give room for the first few seconds of big fluctuation, sometimes it worth to keep orders opened to be in the right big jump ... Risky but ...
I agree that its a very debatable matter... I guess it is up to the trader's risk to participate or not.
  • #18,700
  • May 5, 2013 3:01am May 5, 2013 3:01am
Quoting kbp
I have a tool where I monitor the cross on H4 for TMS & X-man. It's Sunday today so I did some works to share this tool to everyone: http://www.googleforex.com/ (dont know what to name it so I chose google & forex) It lists all the cross on all the pairs, H4 tf, during the last 2 trading days. Update every hour. Simple as that. I have a similar page where I put analysis for each cross when they happen, but dues to security issue it only runs on local PC. Will see if I can share them in the future Hope it help.
thatīs cool. thanks
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