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Trading Made Simple

  • #85,921
  • Jan 24, 2018 3:18am Jan 24, 2018 3:18am
EURUSD Week 04 H4 trades with PAC
1 loss -40pips
1 winner +28pips

1 open trade

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #85,922
  • Jan 24, 2018 3:21am Jan 24, 2018 3:21am
GBPUSD Week 04 H4 trades;

3 wins +45pips, +30pips, +12pips

1 open trade running at BE now.

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #85,923
  • Jan 24, 2018 3:23am Jan 24, 2018 3:23am
Quoting emmanuel7788
USDCHF Week 04 H4 sell trade now protect at BE +10pips. Trade was taken by trade manager when I was sleeping. Price Bar and HA candle close below the PAC Low. Initial SL above previous 2bars high Support seen to the left, last week's Low. {image}
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USD CHF H4 trade Jan 24 update,

this trade now protected with trailing SL +46 pips.

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #85,924
  • Jan 24, 2018 3:31am Jan 24, 2018 3:31am
USDCAD Week 04 Jan 24 H4 trade with PAC

This trade now protected with trailing SL TSL+28pips.

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #85,925
  • Jan 24, 2018 3:39am Jan 24, 2018 3:39am
I think this is both mine and 'D's argument, when we see or read about trading the Daily or 4 hourly charts, especially with the term 'scalping'. These are swing trades.

Here is why i personally don't understand such huge timescales;

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I read someone exited a trade earlier through 'boredom'.

As i've written before there are two places to watch for, either Support/Resistance being an exact point and then look for a pinbar reaction to leave either a wick (short) or leg (long) and take the trade upon the following candle break or if it is deeper, look for the pinbar at the start of the prior move to be tested as either Supply or Demand zone.

You can be very tight with your stoploss when it is S/R because we want it to be an exact reaction, thus a tick/pip above/below the line.

Thus for a 3.5 pip risk on the above trade (inc spread) and resulting in +21 being taken out after a visual small 5w (impulse) count...
GoFundMe -stage-4-glioma-brain-cancer-fighter (link in my profile)
  • #85,926
  • Jan 24, 2018 3:59am Jan 24, 2018 3:59am
To sum things up.... it takes time and mountains of experience to know when to simply take a pullback, but i hope you can see that if you are not having any luck with this approach, you can look for a confirmation to occur off of the level. I have shown fib levels combined with EW counts, but i appreciate that, that too takes years or thousands of hours of experience to achieve a competent level.

Otherwise, it is as i've pointed out in my various charts over the past few weeks, to identify a likely point or zone (either S/R or S/D) and then trade either the pinbar break or 123 break and retest.

You will get plenty of failures to begin with, of course, but experience is key to success. Bang your head against a brick wall for long enough and you'll eventually learn to stop doing so, cos it hurts!)

Indicator based trading takes away discretion, that is why everyone looks for a 'holy grail' cos they don't want to have to make the decisions. That way they can blame the indicator or the market for being wrong... as we all know, the market is never wrong. Teach yourself to get onside and trade as the market does... there is no 'holy grail' so stop looking for one.

When you realise that success can only come through using your own discretion, that's when your journey really begins. It's why books are written about trading psychology. Stop putting it off and looking for comfort... you have to tackle that barrier before you can come out of the other side.
GoFundMe -stage-4-glioma-brain-cancer-fighter (link in my profile)
  • #85,927
  • Jan 24, 2018 5:40am Jan 24, 2018 5:40am
Quoting emmanuel7788
{quote} Hey Divergence, you are an experienced and advance trader with many years of trading experience going back to the beginning of this thread. 6 years is very longtime and anyone who have been trading on daily basis would have more the 6,000 hours trading experience. it will take newbies time to be reach your level and then they will see the light. I am sure not all will appreciate the knowledge and experience shared here, but when you can help just one person, it is good enough. Thanks for all your sharing here.

Precisely, but most newbies will give up after a string of losses. Or think that their method is wrong and try to find a better one, and then the cycle begins...

By watching just those 2 video's, his 6 years experience has been condensed into less than 2 hours, and is a gift to anyone starting out with half of a brain + the will to focus on what he is saying. Bigger players and brokers don't want you to know that stuff because it affects their bottom line.

These forums can be useful, but there is so much BS folk can't recognise the good stuff when it comes along. Bit like fake news.

Or prospecting for gold.

I'd advise anyone new or old to download those video's before they get removed (loads of his past ones have already). Like therapy, you can watch them when you are ready to start learning and stop gambling.

Newbies are at an advantage, if they start out properly there is no baggage of having to recover from failure after failure.
'in less than half an hour he made over 100 ticks'
  • #85,928
  • Jan 24, 2018 6:12am Jan 24, 2018 6:12am
Wow didnt realize anyone was listening glad I could help. I also started out just like you all did trying to find the right indicator/indicators and when I came to the conclusion that there all the same non predictive I stopped using them
  • #85,929
  • Jan 24, 2018 6:22am Jan 24, 2018 6:22am
You should start own blog and set it to run with google ads. About time you got paid something for your contribution, you could always donate earnings off that to charity. Hell knows, you don't need the money
'in less than half an hour he made over 100 ticks'
  • #85,930
  • Jan 24, 2018 6:29am Jan 24, 2018 6:29am
Quoting onejester
You should start own blog and set it to run with google ads. About time you got paid something for your contribution, you could always donate earnings off that to charity. Hell knows, you don't need the money
Its fine just posting on plan the trade thread what ever I learned was all free threw internet and me putting my twist on it
  • #85,931
  • Jan 24, 2018 6:49am Jan 24, 2018 6:49am
Quoting Divergence
Wow didnt realize anyone was listening glad I could help. I also started out just like you all did trying to find the right indicator/indicators and when I came to the conclusion that there all the same non predictive I stopped using them
100% right. Indicators are bogus, PA is king. I trade fulltime with a daily goal of 50 pips. Makin' a living from it. Only trade futures (NQ / Dow).
  • #85,932
  • Jan 24, 2018 6:58am Jan 24, 2018 6:58am
Quoting Olarion1975
{quote} 100% right. Indicators are bogus, PA is king. I trade fulltime with a daily goal of 50 pips. Makin' a living from it. Only trade futures (NQ / Dow).
Same goal as mine I only trade the nq (emini Nasdaq ) futures
  • #85,933
  • Jan 24, 2018 7:08am Jan 24, 2018 7:08am
UJ... still looking bearish, IMO
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Since Frank Sinatra sings in his own way, my chart sing... I did it, my way
  • #85,934
  • Jan 24, 2018 7:20am Jan 24, 2018 7:20am
Quoting magentfx
shorted euraud@53623 TP50

closed all euraud trades 3 trades for 60 pips
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Avoid what is Strong,Strike at what is Weak
  • #85,935
  • Jan 24, 2018 7:22am Jan 24, 2018 7:22am
Quoting magentfx
bot audchf @76651 TP 50

closed this for aroudn Breakdeven
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Avoid what is Strong,Strike at what is Weak
  • #85,936
  • Jan 24, 2018 7:24am Jan 24, 2018 7:24am
Quoting magentfx
Bot audusd @ 79706 tp 50

nailed 48 pips
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Avoid what is Strong,Strike at what is Weak
  • #85,937
  • Jan 24, 2018 7:33am Jan 24, 2018 7:33am
So here's 2 guys posting and showing no reason why they entered rookie nonsense
  • #85,938
  • Edited 9:36am Jan 24, 2018 8:16am | Edited 9:36am
Ever been to one of those review sites, especially restaurants? Somebody posts a bad review, and another, and another. The owners take steps to make sure that the bad reviews get pushed off the last page that everybody reads. So anything of value gets washed away with the deluge...

It may take a while, but eventually people start eating elsewhere.

Come on EC
'in less than half an hour he made over 100 ticks'
  • #85,939
  • Jan 24, 2018 8:46am Jan 24, 2018 8:46am
Lol
  • #85,940
  • Jan 24, 2018 8:54am Jan 24, 2018 8:54am
this thread is like my old home so i can't resist my self to visit....i live TMS/tdI respect all tms lover specially big e and and old days tms lover...but now a days i feel helpless /frustrated because of some post/person's behavior and attitude which is not healthy for knowledge or learning and recall one of my favorite quote (with all respect to all real tms lover ......
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