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Trading Made Simple

  • #80,581
  • Jul 5, 2017 2:01am Jul 5, 2017 2:01am
Quoting irvanhidan
{quote} emm, if we have trade entry in h4,did you check tdi on higher TF or just focus on PA and ignore tdi condition in higher TF ?
When I trade H4, I prefer to trade in the direction with D1 and W1 both to be in favour of the same direction of the H4.

Look at this EURAUD multi-chart below, H4 looks like a setup candle but the D1 and W1 are different.
The 10EMA on D1 and W1 are below the current price action and this is quite clear on H4 with the 50EMA and 200EMA close by and just below the H4 price action.
Taking the trade means we need get in and get out fast.

Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD Week 27 Jul05 H4 LO.png Size: 49 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #80,582
  • Jul 5, 2017 2:11am Jul 5, 2017 2:11am
Quoting emmanuel7788
{quote} When I trade H4, I prefer to trade in the direction with D1 and W1 both to be in favour of the same direction of the H4. Look at this EURAUD multi-chart below, H4 looks like a setup candle but the D1 and W1 are different. The 10EMA on D1 and W1 are below the current price action and this is quite clear on H4 with the 50EMA and 200EMA close by and just below the H4 price action. Taking the trade means we need get in and get out fast. {image}
allways fast response thank you for explanation emm, i understand now
2% target/Month !
  • #80,583
  • Jul 5, 2017 2:15am Jul 5, 2017 2:15am
Look at these 3 pairs - NZDUSD, NZDJPY and EURJPY.

Are these bullish or are you selling already and hoping that they will drop just because you have open sell positions and hanging on despite your trading account is in floating losses and you refuse to cut losses. What fundamental reasons why these should drop any time soon.


Attached Image (click to enlarge)
Click to Enlarge Name: NZDUSD Week 27 Jul05 H4 multi-charts.png Size: 59 KB


Attached Image (click to enlarge)
Click to Enlarge Name: NZDJPY Week 27 Jul 05 H4 multi-charts.png Size: 61 KB


Attached Image (click to enlarge)
Click to Enlarge Name: EURJPY Week 27 Jul 05 H4 mulit-chart.png Size: 62 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #80,584
  • Jul 5, 2017 2:19am Jul 5, 2017 2:19am
Quoting Deichkind
{quote} My favorite is GBPCAD of this 3 pairs, {image} {image}
Excellent posting

Danke Thorsten!

Stay truned
Guido
Risiko birgt immer auch die Chance.
  • #80,585
  • Jul 5, 2017 2:34am Jul 5, 2017 2:34am
Another example, USDCAD.
Last week several post in FF showing some kind of harmonics pattern and elliot wave, some started to buy.

But look at the Weekly and Monthly, do they look bullish to buy.

Look at H4, it will take a long time before we see the 10EMA above 50EMA and above 200EMA, then it will be good time to look for buy.

Meantime, shall we stand aside? NO. Can trade counter-trend in the lower timeframes or be patient and look for setup in the same direction of the W1.

Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD Week 27 Jul 05 H4 multi-chart.png Size: 60 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #80,586
  • Jul 5, 2017 3:08am Jul 5, 2017 3:08am
Quoting emmanuel7788
Another example, USDCAD. Last week several post in FF showing some kind of harmonics pattern and elliot wave, some started to buy. But look at the Weekly and Monthly, do they look bullish to buy. Look at H4, it will take a long time before we see the 10EMA above 50EMA and above 200EMA, then it will be good time to look for buy. Meantime, shall we stand aside? NO. Can trade counter-trend in the lower timeframes or be patient and look for setup in the same direction of the W1. {image}
Thank you for every post you give, each one of them is a classroom. Let's go to the question
Do you mean that in these cases, until the market reversal , we trade in lover time frame ?
  • #80,587
  • Jul 5, 2017 3:21am Jul 5, 2017 3:21am
Quoting mortezakh
{quote} Thank you for every post you give, each one of them is a classroom. Let's go to the question Do you mean that in these cases, until the market reversal , we trade in lover time frame ?
Following a simple rule - trade away from the 10EMA, away from 50EMA and 200EMA.
If you trade towards the 50EMA and towards the 200EMA, consider them to be counter trend.

When you trade H4, there will be days when the market make corrections during the week and you can still take a H4 counter trend trade.
This happens often when the market make a strong move exceeding 100% and 120% of its average 52-weeks range AWR, those corrections are good to trade and with small target of 40% of the AWR

Example USDCAD in the past weeks, were few strong move down and the following week saw some good corrections.

Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD AWR.png Size: 63 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #80,588
  • Jul 5, 2017 4:05am Jul 5, 2017 4:05am
What indicators should I have. I've been using the 5 ma (period 5, shift 2, exponential, apply to close), then the red/green RSI, and stoch's set at 8,3,3. Has anything changed in the way this system was designed. I've read the first 100 pages or so, and now I see PAC. Is PAC price action as it relates to the moving average?

So far I've been getting killed using this method. Started out great, but most trades in the past two weeks have gone against me. So with that said, at this point, I'm just wondering what the standard settings for the charts should be.
  • #80,589
  • Edited 4:37am Jul 5, 2017 4:24am | Edited 4:37am
Quoting slc12312
What indicators should I have. I've been using the 5 ma (period 5, shift 2, exponential, apply to close), then the red/green RSI, and stoch's set at 8,3,3. Has anything changed in the way this system was designed. I've read the first 100 pages or so, and now I see PAC. Is PAC price action as it relates to the moving average? So far I've been getting killed using this method. Started out great, but most trades in the past two weeks have gone against me. So with that said, at this point, I'm just wondering what the standard settings for the charts...

you are not new to forex trading, right?

your indicators and setting are okay to trade with.

you got 'killed' because TMS is price action and support/resistance PASR trading. Post#647

when you did not trade PASR with discretionary decisions, you wont make it.

following a 100% mechanical rules based trading using the HA candle with the PAC and TDI Moderate mode, you stand a good chance to make some money.

forget about trading H1 and any TF below. Start trading with D1 and H4.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #80,590
  • Jul 5, 2017 5:58am Jul 5, 2017 5:58am
Quoting emmanuel7788
{quote} When I trade H4, I prefer to trade in the direction with D1 and W1 both to be in favour of the same direction of the H4. Look at this EURAUD multi-chart below, H4 looks like a setup candle but the D1 and W1 are different. The 10EMA on D1 and W1 are below the current price action and this is quite clear on H4 with the 50EMA and 200EMA close by and just below the H4 price action. Taking the trade means we need get in and get out fast. {image}
Emmanuel, You are real enciklopedy and 1 of the the rare traders here who share his nolage with everyone without restriction realy i em glad that you are here with us
  • #80,591
  • Jul 5, 2017 6:07am Jul 5, 2017 6:07am
Quote
there is one open source available which you can use and make your own modifications for your own trading.

https://www.mql5.com/en/code/10699

thank u sir
like to learn forex
  • #80,592
  • Jul 5, 2017 7:09am Jul 5, 2017 7:09am
Quoting emmanuel7788
Another example, USDCAD. Last week several post in FF showing some kind of harmonics pattern and elliot wave, some started to buy. But look at the Weekly and Monthly, do they look bullish to buy. Look at H4, it will take a long time before we see the 10EMA above 50EMA and above 200EMA, then it will be good time to look for buy. Meantime, shall we stand aside? NO. Can trade counter-trend in the lower timeframes or be patient and look for setup in the same direction of the W1. {image}
Hello Emmanual

I love the indicators is it possible to please share with us. The indicator showing all the time frames in one screen.
Thank you and thanks fro all the great advice.
Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD Week 27 Jul 05 H4 multi-chart.png Size: 191 KB
  • #80,593
  • Jul 5, 2017 7:19am Jul 5, 2017 7:19am
Quoting Henry2501
{quote} Hello Emmanual I love the indicators is it possible to please share with us. The indicator showing all the time frames in one screen. Thank you and thanks fro all the great advice. {image}

its all here in this thread:

Post#76,270
https://www.forexfactory.com/showthr...59#post9588859
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #80,594
  • Jul 5, 2017 7:20am Jul 5, 2017 7:20am
Hello emmanuel7788
Im also interested by these mulitimframe indicators quoted above by Henry2501

Can u share also TMS Monitor indicator posted in #80567 (p.4029)
Tnx
  • #80,595
  • Jul 5, 2017 7:30am Jul 5, 2017 7:30am
Quoting emmanuel7788
{quote} Use a technical stop loss on your chart during your trade planning. The technical stop loss can be your trade initial Stop Loss which you use to calculate your trade(s) Position Sizing for your trade lot size. The Dynamic Cut-Loss we have been talking about is dynamic and it is following the market price and its volatility. You can't possibly use this cutloss for position sizing. Some old posts on this similar question. https://www.forexfactory.com/showthr...60#post8525460 https://www.forexfactory.com/showthr...61#post8546661...
Emm,
Thanks for this, very useful summary. I have been testing use of cutloss for position sizing, and it does work, unless you open a new basket on the 'wrong' side of the EMA, on the trade management time frame, in which case it doesn't work, so I was looking at using chandelier exit calculation to set SL level for basket, to use as a 'plan B' for the trade manager, this starts becoming complicated and as you say is then just based on volatility, not chart technical's. I think I will stick to using the hard technical based SL for the basket position sizing calculation in the TM. Thanks
  • #80,596
  • Jul 5, 2017 7:31am Jul 5, 2017 7:31am
Quoting paulselvan
Hello emmanuel7788 Im also interested by these mulitimframe indicators quoted above by Henry2501 Can u share also TMS Monitor indicator posted in #80567 (p.4029) Tnx
https://www.forexfactory.com/showthr...68#post8753868

read that thread and get all the tips.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #80,597
  • Jul 5, 2017 7:36am Jul 5, 2017 7:36am
Quoting Uk1
{quote} Emm, Thanks for this, very useful summary. I have been testing use of cutloss for position sizing, and it does work, unless you open a new basket on the 'wrong' side of the EMA, on the trade management time frame, in which case it doesn't work, so I was looking at using chandelier exit calculation to set SL level for basket, to use as a 'plan B' for the trade manager, this starts becoming complicated and as you say is then just based on volatility, not chart technical's. I think I will stick to using the hard technical based SL for the basket...
when you are on the wrong side of the 'trend' or when the retracement goes too deep, only cut-loss will save your account.

you can use the Chandelier Exit it is very effective for trend trading. You just need to pick the 'right' ATR ration on the chart timeframe.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #80,598
  • Jul 5, 2017 8:28am Jul 5, 2017 8:28am
Quoting mizi123
{quote} Emmanuel, You are real enciklopedy and 1 of the the rare traders here who share his nolage with everyone without restriction realy i em glad that you are here with us
Hi mizi

I think you were 1 of those traders who wanted to trade like Eelfranz .
You were successful on this way after mounts ?
  • #80,599
  • Jul 5, 2017 8:34am Jul 5, 2017 8:34am
Quoting farhad10
{quote} Hi mizi I think you were 1 of those traders who wanted to trade like Eelfranz . You were successful on this way after mounts ?
Yes i em Emannuel have expained some insides better than elefanz during these trip here....
  • #80,600
  • Jul 5, 2017 9:24am Jul 5, 2017 9:24am
Quoting emmanuel7788
{quote} its all here in this thread: Post#76,270 https://www.forexfactory.com/showthr...59#post9588859
Thank you Emmanual
Somehow i missed it.
Thank for the quick reply
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