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Trading Made Simple(r)

  • #141
  • May 30, 2019 7:39am May 30, 2019 7:39am
Quoting kirinda
{quote} Exit because of color change. 7 pips loss (stop loss was 36 pips)
Trading like that means monitoring the charts all day and night. Can anyone say BORING? That's the biggest problem I have with this lifestyle... staying awake after 5 minutes of looking at these charts.
  • #142
  • May 30, 2019 8:11am May 30, 2019 8:11am
Quoting tenthman
{quote} Two to three candles too late??? A 4H chart! I would have made a whopping 10 pips had I gotten in (and out) when you suggest. Here's how it ended up ... (good thing it was a demo acct): {image}
Yes, 2-3 candles late. The green vertical line on the chart below marks the bar that you should have entered on. Even the TDI on your chart told you to enter at the same time (the green line crossing above the red line).

Attached Image (click to enlarge)
Click to Enlarge Name: NZDCADH4.png Size: 50 KB
Always a Student, Never a Master - Emulate What Works
  • #143
  • Edited 3:01pm May 30, 2019 8:19am | Edited 3:01pm
Quoting tenthman
{quote} Trading like that means monitoring the charts all day and night. Can anyone say BORING? That's the biggest problem I have with this lifestyle... staying awake after 5 minutes of looking at these charts.
You are right IF you are trading the lower time frames, however, kirinda is trading 4 hr. charts which means she only has to check them a maximum of 6 times a day. I also trade 4 hr. charts and I never get up in the middle of the night to check charts. I just put my stops in and it's all taken care of. If something happens like I get stopped out and/or I get a new signal, then I just deal with it when I wake up. My sleep is more important to me than trading.

Or better yet, trade the daily chart and you only have to look at the chart once a day, and I do that too.
Always a Student, Never a Master - Emulate What Works
  • #144
  • May 30, 2019 9:06am May 30, 2019 9:06am
Quoting tenthman
{quote} Trading like that means monitoring the charts all day and night. Can anyone say BORING? That's the biggest problem I have with this lifestyle... staying awake after 5 minutes of looking at these charts.
RobinHood is right, I only check color on 4H close of candle. It's very relaxing.
  • #145
  • Edited 9:55am May 30, 2019 9:44am | Edited 9:55am
Exit EURAUD 4H with +37 pips. Trailing stop loss was taken out.

Attached Image (click to enlarge)
Click to Enlarge Name: 20190530EURAUDH4.png Size: 75 KB
  • #146
  • Edited 10:13am May 30, 2019 10:02am | Edited 10:13am
Quoting kirinda
Exit EURAUD 4H with +37 pips. Trailing stop loss was taken out. {image}
I was in that same trade and basically the same thing happened to me, only I had a fixed stop in place at 1.6104

Now I am short the NZDCAD and the AUDUSD.
Always a Student, Never a Master - Emulate What Works
  • #147
  • May 30, 2019 7:52pm May 30, 2019 7:52pm
Quoting emmanuel7788
EURGBP example of a Weekly setup. still have time to jump in perhaps a another approach is to jump in using H4. {image}

EURGBP W1 and H4

it is relatively simpler and easy, ... and no more TDI. Stochastics is leading the way.

after Week 19 setup, it is BUY only and H4 has several opportunities for CONTINUATION trades and add-ons.

today would still be BUY only ... into the Month END.

Attached Image (click to enlarge)
Click to Enlarge Name: EURGBP May 31 W1.png Size: 59 KB


Attached Image (click to enlarge)
Click to Enlarge Name: EURGBP May 31 H4.png Size: 56 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #148
  • May 30, 2019 7:58pm May 30, 2019 7:58pm
EURGBP May month closing today at NY 5PM

if today closing makes a new MN High and higher Close,

the Price Action looks good look where resistance is to the left. The challenge is Money Management and Risk Management.... and BREXIT!

we may have a setup on MN chart.

Attached Image (click to enlarge)
Click to Enlarge Name: EURGBP May 31 MN to close.png Size: 53 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #149
  • May 31, 2019 1:08am May 31, 2019 1:08am
AUDCAD 4H crossover trade. Exit method color change on 2-3 indicators.

Attached Image (click to enlarge)
Click to Enlarge Name: 20190531AUDCADH4.png Size: 66 KB
  • #150
  • May 31, 2019 1:13am May 31, 2019 1:13am
Quoting emmanuel7788
EURGBP May month closing today at NY 5PM if today closing makes a new MN High and higher Close, the Price Action looks good look where resistance is to the left. The challenge is Money Management and Risk Management.... and BREXIT! we may have a setup on MN chart. {image}
Yes, it's long only. To me it looks like it soon will break the resistance (easy to see on 4H) and continue up.
  • #151
  • May 31, 2019 7:05am May 31, 2019 7:05am
Here's a Crossover trade on the GBPJPY (4 Hr) that I took yesterday and I will stay in it UNTIL I get a color change on 2-3 of the indicators, get stopped out, or something crosses above the Purple 50 Line.

Attached Image (click to enlarge)
Click to Enlarge Name: GJ 4 Hr.PNG Size: 16 KB
Always a Student, Never a Master - Emulate What Works
  • #152
  • Jun 1, 2019 12:09am Jun 1, 2019 12:09am
Quoting RobinHood
Trading Made Simple(r) I have named this thread as such because I learned so much from "Big E's" thread "Trading Made Simple" and I ---------------------- In Conclusion... This may sound harsh, but I really believe that if you cannot eventually learn to make money trading the Forex using these templates, then you should probably just give up trading the Forex. To Be Continued...
Subscribed. Yes, you are correct. It is a simple system. All the best.
  • #153
  • Jun 1, 2019 12:40am Jun 1, 2019 12:40am
On Monday will trade with this system
  • #154
  • Jun 1, 2019 5:59am Jun 1, 2019 5:59am
Quoting salimc
{quote} Subscribed. Yes, you are correct. It is a simple system. All the best.
Welcome to the thread...and good luck!
Always a Student, Never a Master - Emulate What Works
  • #155
  • Jun 2, 2019 12:08am Jun 2, 2019 12:08am
Quoting salimc
On Monday will trade with this system
Good luck Salimc
  • #156
  • Jun 2, 2019 8:01am Jun 2, 2019 8:01am
Quoting RobinHood
{quote} Thanks for the post. Gold and Silver used to be offered on MT4 but I am in the U.S. where they are no longer offered so the MM website has no appeal to me.
Who do you use for a broker in the US..I'm also located in the US.
  • #157
  • Jun 2, 2019 8:24am Jun 2, 2019 8:24am
Quoting Akolva1
{quote} Who do you use for a broker in the US..I'm also located in the US.
O A N D A
Always a Student, Never a Master - Emulate What Works
  • #158
  • Jun 2, 2019 8:29am Jun 2, 2019 8:29am
Quoting RobinHood
{quote} O A N D A
Thanks I use Traders Domain but I'm thinking of switching to Traders Way. Haven't used Oanda because of the low "legal" leverage.
  • #159
  • Jun 3, 2019 5:09am Jun 3, 2019 5:09am
Update on trade from Post 151

Attached Image (click to enlarge)
Click to Enlarge Name: GJ Update.PNG Size: 47 KB
Always a Student, Never a Master - Emulate What Works
  • #160
  • Jun 3, 2019 7:10am Jun 3, 2019 7:10am
Hello,

Just wanted to share a trade i took on EURJPY H4. I know it is counter trend, but a retracement was long overdue i believe. Lookinnlg forward to any feedback.
After 20 pips in profit i moved SL to BE.

Green pips,
Bill
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_20190603-143826.jpg Size: 554 KB
focus, manage risk, rinse, repeat
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