Trade Different
Multi 3000 All Time Pips:
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Trading Made Simple 146,120 replies
Trading Made Simple the right way, and other trading lessons 332 replies
Indicators for the 'Trading Made Simple' system 343 replies
MTF Indicators for the 'Trading Made Simple' system 241 replies
DislikedI received some questions via PM which I must answer it here as I don't want to cause any confusion haha. The question was: "How do you set SL when you are holding H4 trades, do you have any examples?" I have attached a chart below which I believe is simple enough to understand. EURUSD H4 - Some examples of SL placement (I am not at home now, I am using my Mac so the chart is from tradingview, not MT4) {image} There were 3 trades here... 1st trade - LONG entry, SL below the highlighted red candle. 2nd trade - SHORT entry, SL above the highlighted...Ignored
Disliked{quote} Wow, what a good explanation here again! Emm, so being said that if I go SHORT, my SL has to be placed above the previous candle high(example 1.0020) and add another 15-20 pips above it which is (1.0040 for my SL) right? Correct me if I am wrong. Thank you!Ignored
DislikedTrade setup: Heiken Ashi candles EMA 5, Shift 2, Typical Price (HLC/3) Stochastic 8,3,3 TDI 13,0,34,2,0,7,0 respectively Entry: 1. Look at TDI: LONG - Green have to cross red, direction has to be 12 - 2 o'clock. Green line has to be near 32 level. SHORT - Green have to cross red, direction has to be 4-6 o'clock. Green line has to be near 68 level. 2. Look at Stochastic: Never make an entry when it is RED color. I use this mainly to look at the colors (RED / BLUE) I don't use it for direction purpose. I depends solely on the TDI 3. Look at the HA...Ignored
Disliked{quote} I made a quick edit to this post. To LONG, your TDI (green line) has to be near 32 (the oversold zone) To SHORT, Your TDI has to be near 68 (the overbought zone) Sorry for the silly typing mistake LOL.Ignored
Disliked{quote} Okay, thanks for the update buddy. My question now is as you said the TDI green line has to be near (32) may I know your near is consider as in like below 35 or what? Can you clarify on this? Thanks, would be much more appreciate if you can help me on this! =)Ignored
Disliked{quote} Thanks for your question Brady, good question. This will be answered when you do enough backtest, but like I said in the previous post, Only enter LONG when TDI is at/near level 32. In my experience, the BEST trade is TDI below 32, and it triggers a LONG entry. Vice versa for SHORT trade. Regards, KennyIgnored
Disliked{quote} Okay buddy, thank you for the explanation. Another question is can we trade if there is NEWS coming in the next hour? Or it does not matter at all? =)Ignored
Disliked{quote} Most of the MAJOR USD news happens at 8.30PM (GMT+8, Malaysia time)... There's a reason why I only trade M30/H1 at 9PM. :-) Stay out of the market and wait for the market to calm down before trading smaller timeframe. As for my trades in H4 timeframe, I don't really care bout news. Regards, KennyIgnored
Disliked{quote} Oh, great Kenny! Thank you so much! You too have a nice weekend ahead. Looking forward to see more post coming in next week! Regards, BradyIgnored