DislikedI thought I would share with you my screen setup which allows me to easily look at every pair I am interested in along with every timeframe I am interested in. It also allows me to single out the pairs that look like they are setting up (examples are AUDJPY and AUDUSD in the setup below which I have indented to make them stand out from all the others). This makes it easy for me to have everything in front of me, instead of dealing with all those tabs at the bottom of an MT4 page. All in one MT4 profile. Good trading. {image}Ignored
- #81,362
- Aug 9, 2017 11:02pm Aug 9, 2017 11:02pm
- Joined Nov 2008 | Status: Trader | 50,189 Posts
Yesterday was the usual Monday after the previous week's Friday NFP. It is s day when I would trade H1. Today is back to H4, my preferred 4H swing trading. 4H swing trades can last 2 to 4 days, close them on Friday before London session close. Do not trade H4 during the NY second half session on Fridays. Looking at EURAUD and EURCAD again from our discussions from last week, both pairs are 'good to buy' but one pair is better over the other. Which pair? 1) EURAUD 2) EURCAD pick the better one and have your own reasons for your pick. Pay attention...
Now look at these charts below and decide for yourself what you see and how you want to trade.
chart_1 : Naked chart, you will see better without any influence of colours and indicators.
chart_2 : TMS chart plus the use of the Power of 10EMA,
Do you see this week'current low? is this the swing low which I mentioned in my post above?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #81,363
- Aug 9, 2017 11:10pm Aug 9, 2017 11:10pm
- Joined Nov 2008 | Status: Trader | 50,189 Posts
I thought I would share with you my screen setup which allows me to easily look at every pair I am interested in along with every timeframe I am interested in. It also allows me to single out the pairs that look like they are setting up (examples are AUDJPY and AUDUSD in the setup below which I have indented to make them stand out from all the others). This makes it easy for me to have everything in front of me, instead of dealing with all those tabs at the bottom of an MT4 page. All in one MT4 profile. Good trading. {image}
Nice idea.
You and I have same in common, We don't trade the CHF pairs.
I only look at 20 pairs and use the TMS Monitor to monitor them.
Each pair has its own template with all my BPP planning details, in all I have 20 templates, one template for each currency pair. This way, I save them in one single MT4 profile.
The reason for having one template for each currency pair is that all the objects I draw on my BPP charts, for example the historical price swing levels, the price bar patterns , etc. are different for each currency pair. These objects are saved in the chart template and can be copied to other MT4 installed folders easily.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #81,364
- Aug 9, 2017 11:17pm Aug 9, 2017 11:17pm
- Joined Nov 2008 | Status: Trader | 50,189 Posts
{quote} Good morning. No doubt, both are excellent.. We toyed Gcad down in July as well.. ;-) You took both? They belong to the same group. Double risk then? Stay tuned Guido
Sorry for no reply yesterday. Was a very busy day with my CUG development group.
Yes, I did take both GBPAUD and GBPCAD pairs since these are in the Run phase, with profits from other trades, I can trade both pairs which are in the same group. No increase in the total risk and I have buy in EURNZD with banked in profits and sell in AUDUSD which has small profits.
In all with 4 traded pairs in one account is still okay as I do not have any of the COMMOD crosses - AUDCAD, AUDNZD and NZDCAD.
Plan, Build and Run for those who still have not known what this means.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #81,365
- Aug 9, 2017 11:21pm Aug 9, 2017 11:21pm
- Joined Nov 2008 | Status: Trader | 50,189 Posts
AUDUSD Week 32 Aug 10:
Sold AU on Monday and looking still good to sell today when this H4 closes using PASR.
Sold AU on Monday and looking still good to sell today when this H4 closes using PASR.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #81,368
- Aug 9, 2017 11:59pm Aug 9, 2017 11:59pm
- Joined Nov 2008 | Status: Trader | 50,189 Posts
{quote} Gold trade update. Trading gold with MEME has been fun so far. Closed the latest basket and started a new one. We also have a nice D1 set up, satisfying all the TMS rules, TDI cross above 50 and above yellow, PA closing above PAC, PA is rejected from the support, 9 August bar is an inside bar breakout setup. The risk is 9 August bar is a WRB so we may see some consolidation, but MEME traders can use this to build more positions. Cheers, Okoso {image} {image}
Very good trades! Well done.
With this breaking last MN high, we have two other MN highs to target next....
its small Kim vs Trump rhetoric.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #81,371
- Aug 10, 2017 12:42am Aug 10, 2017 12:42am
- Joined Nov 2008 | Status: Trader | 50,189 Posts
{quote} Gold trade update. Trading gold with MEME has been fun so far. Closed the latest basket and started a new one. We also have a nice D1 set up, satisfying all the TMS rules, TDI cross above 50 and above yellow, PA closing above PAC, PA is rejected from the support, 9 August bar is an inside bar breakout setup. The risk is 9 August bar is a WRB so we may see some consolidation, but MEME traders can use this to build more positions. Cheers, Okoso {image} {image}
Hi Okoso,
Trading with ME/ME, trades can be managed manually with clear written basic entry and exit rules.
Since you are trading on H4 chart, you have time to look at your trades in realtime and make decision.
I wrote some comments using your trade chart.
I dont know if you used fix lot size for every trade, my comments assumed you used fix lot size.
If you use variable lot size, this changes the breakeven level rule.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #81,372
- Aug 10, 2017 12:43am Aug 10, 2017 12:43am
- Joined Nov 2008 | Status: Trader | 50,189 Posts
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #81,374
- Edited 1:23am Aug 10, 2017 1:12am | Edited 1:23am
- Joined Nov 2008 | Status: Trader | 50,189 Posts
{quote} Sorry for my quest anyway.. btw when WRB used for?could u give an example..thanks b4 emmanuel7788
Use forum keyword search and you will have 104 posts to read.
Why do we use WRB?
If you read Big E's post #647, one of the many things he mentioned were these below:
<quote>
When wanting to enter a TDI trade... take a moment first to observe basic 4x things... like:
How close am I to the previous high or lo
Am I in an uptrend or downtrend.. short & long term...
Am I in or close to a consolidation area
Are the previous candles small...
Look at the candles on the last reversal... big, little, what
<unquote>
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #81,375
- Aug 10, 2017 2:14am Aug 10, 2017 2:14am
{quote} Hi Okoso, Trading with ME/ME, trades can be managed manually with clear written basic entry and exit rules. Since you are trading on H4 chart, you have time to look at your trades in realtime and make decision. I wrote some comments using your trade chart. {image} I dont know if you used fix lot size for every trade, my comments assumed you used fix lot size. If you use variable lot size, this changes the breakeven level rule.
Thank you very much for your detailed explanation. Extremely helpful.
The more I practice MEME, I realize the need of a good EA and also a VPS access. Soon I will use them.
Thanks again,
Okoso
- #81,379
- Aug 10, 2017 4:15am Aug 10, 2017 4:15am
- | Membership Revoked | Joined Dec 2016 | 1,824 Posts
da n0o0b + $hit_Disturber 
- #81,380
- Aug 10, 2017 4:37am Aug 10, 2017 4:37am
- Joined Jun 2013 | Status: Membership Rewarded | 3,206 Posts
Risiko birgt immer auch die Chance.