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Trading Made Simple

  • #82,101
  • Edited Sep 21, 2017 12:16am Sep 20, 2017 8:06pm | Edited Sep 21, 2017 12:16am
Quoting hzs10
shorted AU this morning at 0.8029. will likely close before RBA Lowe speaks at 1.10pm (GMT +8)
There is a tweek starting to form and will see how this candle close to decide whether to exit

My AUDUSD earning 40pips now. stop loss entry already. after Lowe Speaks I decided to short AUDCAD at 0.9861 as TDI and Soch match Criteria perfectly. will update on my AUDCAD.
  • #82,102
  • Sep 20, 2017 10:46pm Sep 20, 2017 10:46pm
Quoting emmanuel7788
{quote} Do Not rely on that TMS Monitor Recommendation for Buy / Sell. Do our own technical analysis and use that TMS Monitor for an overview of all the pairs we trade and use the alert feature only. CADJPY is bullish and 2 days were not real selling. It just profit taking after a weekly strong bullish rally and ahead of BoJ policy statement this week. Also there are 8 other JPY pairs with nicer technicals to look at. {image}
Thank you very much for your timely advice.
After watching TMS Monitor I go through H1,H4,D1 and MN charts for conformity and then enter.
Thanks a lot
  • #82,103
  • Sep 20, 2017 11:01pm Sep 20, 2017 11:01pm
Any thoughts on AUDCAD? a nice TDI cross is forming but 1.10pm (GMT +8) there is RBA Lowe speaks. shld wait for another for just based on technical?
  • #82,104
  • Sep 21, 2017 12:39am Sep 21, 2017 12:39am
hey emmanuel, i still confused with the ema. when u used pac as 5 sma. but in the tms 5 method big E used a 5 ema with shift 2/3 typical.
  • #82,105
  • Sep 21, 2017 1:21am Sep 21, 2017 1:21am
Hello Traders,

I have always struggled with exits. I have no problem with entries. Usually I enter at the breakout of candle's high or low with stop loss at opposite end. So far I have not found an exit strategy based on trend following. However there are good exits based on counter trend and range.

I was wondering if it is a good idea to have a fixed profit target always for exits. Like 20 pips or 40 pips etc. All the time.

Need some advice. I am sorry for posting in TMS but I see that there are great quality traders here who guide genuinely.

Best Regards,
Recursive
  • #82,106
  • Sep 21, 2017 2:19am Sep 21, 2017 2:19am
Quoting hzs10
{quote} There is a tweek starting to form and will see how this candle close to decide whether to exit My AUDUSD earning 40pips now. stop loss entry already. after Lowe Speaks I decided to short AUDCAD at 0.9861 as TDI and Soch match Criteria perfectly. will update on my AUDCAD.
already earning 100pips from these 2 trades (Only 2pm here). I used it for intraday scalping. so much efficient in getting result compared to other scalping strategy I tried.
  • #82,107
  • Sep 21, 2017 2:39am Sep 21, 2017 2:39am
Quoting emmanuel7788
{quote} FOMC created huge H1 and H4 candles and closed Inside Bar D1 candle with no exit. Now EJ presses higher before BoJ rate today. Expect volatility in few hours. Use PAC stop. {image}

EURJPY Sep 21 H4, makes another test of the BRN 134.00.

There is no sign of it reversing. Look at MN and W1, then look at D1.

Attached Image (click to enlarge)
Click to Enlarge Name: EURJPY Week 38 Sep 21 test BRN 134.00.png Size: 57 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #82,108
  • Sep 21, 2017 2:42am Sep 21, 2017 2:42am
Today's trading plan.
CADJPY & EURJPY MC candle breakout buy trade.Next 4H candle open market buy entry on EURCHF and GBPJPY.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Screenshot_4.png Size: 53 KB
Click to Enlarge Name: Screenshot_5.png Size: 37 KB
Click to Enlarge Name: Screenshot_6.png Size: 41 KB
Click to Enlarge Name: Screenshot_31.png Size: 37 KB
  • #82,109
  • Sep 21, 2017 2:50am Sep 21, 2017 2:50am
Quoting emmanuel7788
{quote} EURJPY Sep 21 H4, makes another test of the BRN 134.00. There is no sign of it reversing. Look at MN and W1, then look at D1. {image}
Hello emmanuel

When do you often check the H4 tf? every 1 or 2 or .....

Thank you
  • #82,110
  • Sep 21, 2017 2:57am Sep 21, 2017 2:57am
Quoting farhad10
{quote} Hello emmanuel When do you often check the H4 tf? every 1 or 2 or ..... Thank you
For the AJ, EJ and UJ pairs,

If your are trading the 4H swing, then check it once every 4 hours when the H4 candle closes and a new one opens.

Otherwise, check it during the London market session when the market liquidity is best for trading.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #82,111
  • Sep 21, 2017 3:23am Sep 21, 2017 3:23am
Quoting jansb000
I made a little test EA ...
Hi all, another update of my little EA. Please refer to my first post about this EA for the needed indicator.
Attached File(s)
File Type: ex4 BiM_LRSF_08.ex4   114 KB | 444 downloads

Please note: This program should be used for demo purposes only, on H4 or D1 timeframes.
Have fun
  • #82,112
  • Sep 21, 2017 4:10am Sep 21, 2017 4:10am
shorted NZDJPY at 82.25
  • #82,113
  • Sep 21, 2017 6:19am Sep 21, 2017 6:19am
Quoting hzs10
{quote} There is a tweek starting to form and will see how this candle close to decide whether to exit My AUDUSD earning 40pips now. stop loss entry already. after Lowe Speaks I decided to short AUDCAD at 0.9861 as TDI and Soch match Criteria perfectly. will update on my AUDCAD.
I exited AU with 70 pips profit and now going 100pips ard. my AC ard 60 pips
  • #82,114
  • Sep 21, 2017 6:28am Sep 21, 2017 6:28am
Quoting saad007
Today's trading plan. CADJPY & EURJPY MC candle breakout buy trade.Next 4H candle open market buy entry on EURCHF and GBPJPY. {image} {image} {image} {image}
CADJPY EURJPY GBPJPY trade invalided.
EURCHF entered.
  • #82,115
  • Sep 21, 2017 7:52am Sep 21, 2017 7:52am
Quoting hzs10
shorted NZDJPY at 82.25
going to exit NJ at 9pm (GMT+8) if didn close below 82.07. Also TDI is weak and tweeked, price movement not big. not going to risk it.
  • #82,116
  • Sep 21, 2017 8:06am Sep 21, 2017 8:06am
Quoting emmanuel7788
{quote} For the AJ, EJ and UJ pairs, If your are trading the 4H swing, then check it once every 4 hours when the H4 candle closes and a new one opens. Otherwise, check it during the London market session when the market liquidity is best for trading.
Hi Mr. Emmauel7788 ,
Thanks for the help from last time, didn't get a chance to say thank you as i was among many things.
Just a simple question, big E or X-man were using a different EMA time frame to spot a potential break out with the candle, I am currently using 5ema and 60ema. Any suggestions for the ema? Thank you sir.
Always be humble, and Stay Vigilant
  • #82,117
  • Sep 21, 2017 8:41am Sep 21, 2017 8:41am
Quoting hzs10
{quote} going to exit NJ at 9pm (GMT+8) if didn close below 82.07. Also TDI is weak and tweeked, price movement not big. not going to risk it.
NJ TDI tilted downards after the close of the candle. I am going to hold the trade till 1am (GMT +8)
Attached Image (click to enlarge)
Click to Enlarge Name: NZDJPY.H4.png Size: 35 KB
  • #82,118
  • Sep 21, 2017 11:48am Sep 21, 2017 11:48am
Quoting hzs10
{quote} I exited AU with 70 pips profit and now going 100pips ard. my AC ard 60 pips
Exited AC with 80pips
  • #82,119
  • Sep 21, 2017 12:31pm Sep 21, 2017 12:31pm
Quoting hzs10
{quote} Exited AC with 80pips
Good trading, Happy pips.
  • #82,120
  • Sep 21, 2017 9:41pm Sep 21, 2017 9:41pm
Quoting hzs10
{quote} NJ TDI tilted downards after the close of the candle. I am going to hold the trade till 1am (GMT +8) {image}
exited at 1am ytd bc TDI tweek and now was down 70pips from my entry ytd. Will look for opportunity to short again
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