Original concept of Divergence by J. W. Wilder in 1978.
Its called failure swing.
Its called failure swing.
- #88,465
- Edited 11:30am Jul 16, 2018 10:57am | Edited 11:30am
- Joined Nov 2015 | Status: Member's sanity currently on AWOL | 8,930 Posts
{quote} Good morning Tekkies, Can you please explain the "confirmation" you are referring to? I don't see any reference to lower (M15) time-frame confirmation on BigEs post #647?! Thank you as always, Tekkies! ZP
Post#6.................... We Enter a trade when green crosses red on the TDI at the beginning of that candle...........
Post#54.................. open your trade at the beginning of the new candle.............
So I use M15 crossover to achieve in that purpose. I apply always post#647 to both timeframes. When the two check list's agree the probability of a successful trade increase, when they don't you will find the trade will not be very profitable. Remember that M15 crossover will always be 15 to 45 min early then the H1 crossover.
(BigE did not like to trade M15 timeframe. a Lot can go wrong in 45 min)
In many of BigE's post's he mentioned that stoch has to confirm the direction of the intended trade. Take it on step further. Why not use the same principle on H1 green when entering a trade on M15 crossover. Many times H1 stoch is unclear about direction the trend is going. Only when H1 green crossover stoch catch up to confirm trend direction.
- #88,466
- Jul 16, 2018 12:02pm Jul 16, 2018 12:02pm
{quote} Had / found that I could never really enter at the beginning of the new bar Post#6.................... We Enter a trade when green crosses red on the TDI at the beginning of that candle........... Post#54.................. open your trade at the beginning of the new candle............. So I use M15 crossover to achieve in that purpose. I apply always post#647 to both timeframes. When the two check list's agree the probability of a successful trade increase, when they don't you will find the trade will not be very profitable. Remember that...
Another clear and informative post, thank you for taking the time!!
Cheers.
- #88,467
- Jul 16, 2018 6:42pm Jul 16, 2018 6:42pm
- Joined Nov 2008 | Status: Trader | 50,194 Posts
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #88,468
- Jul 16, 2018 6:52pm Jul 16, 2018 6:52pm
- Joined Nov 2008 | Status: Trader | 50,194 Posts
What happened with trading GBPUSD yesterday?
Keep It Simple also mean we must apply Post#647 with some common sense and trading logic ... POMO to learn from.
when you trade following indicators cross, the market will set you up much more easily than you see and think.
Keep It Simple also mean we must apply Post#647 with some common sense and trading logic ... POMO to learn from.
when you trade following indicators cross, the market will set you up much more easily than you see and think.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #88,469
- Jul 16, 2018 7:29pm Jul 16, 2018 7:29pm
- Joined Nov 2008 | Status: Trader | 50,194 Posts
With Tokyo Open entry, the potential to ADR High is good and also R:R 1:2 but the same resistance we see above.
need to manage BE quickly and protect trading capital.
Edit: using R Multiple to manage trade, with initial Stop Loss below previous Day Low
When do you move your Sl to BE?
need to manage BE quickly and protect trading capital.
Edit: using R Multiple to manage trade, with initial Stop Loss below previous Day Low
When do you move your Sl to BE?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #88,470
- Jul 16, 2018 8:19pm Jul 16, 2018 8:19pm
- Joined Nov 2008 | Status: Trader | 50,194 Posts
Nice move up with more Tokyo buyers in the market. New H1 candle opens, and lots of ticks around the RN 112.50,
Question some asked:
do you wait till price move 1R then move your SL?
Question some asked:
do you wait till price move 1R then move your SL?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #88,477
- Jul 17, 2018 6:58am Jul 17, 2018 6:58am
- Joined Nov 2008 | Status: Trader | 50,194 Posts
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #88,478
- Jul 17, 2018 7:05am Jul 17, 2018 7:05am
- Joined Nov 2015 | Status: Member's sanity currently on AWOL | 8,930 Posts
Do like the training wheel's that TDI crossover give a trader when searching for a potensial trade.
It even works better when not adding other indicator's like 10EMA.
BigE post'ed: #6....................If you add other things it will influence your decisions... usually to your detriment...................
Why would member's always want to try and change / add to a method that does work.
-------------
M15 crossover alerted that a likely trade can be taken. Same set up as yesterday, (made mistake to jump the trade). That trade ended in profit because stoploss was moved to breakeven plus pips.
Today waited for H1 green to confirm M15 crossover and managed to enter at the beginning of the new bar. Stoch also confirmed the trend direction. So much better.
It even works better when not adding other indicator's like 10EMA.
BigE post'ed: #6....................If you add other things it will influence your decisions... usually to your detriment...................
Why would member's always want to try and change / add to a method that does work.
-------------
M15 crossover alerted that a likely trade can be taken. Same set up as yesterday, (made mistake to jump the trade). That trade ended in profit because stoploss was moved to breakeven plus pips.
Today waited for H1 green to confirm M15 crossover and managed to enter at the beginning of the new bar. Stoch also confirmed the trend direction. So much better.
- #88,479
- Jul 17, 2018 7:20am Jul 17, 2018 7:20am
- Joined Nov 2008 | Status: Trader | 50,194 Posts
Big E was blind so he liked it clean and simple.
Trading is visual, if it helps you visualize better, why not.
Both LE1 and X-Man who are the best TMS traders here uses the 10/50/200EMAs.
Other TMS traders like snarlyjack uses the Guppy MAs.
Learn from them.
They did it and it is not unusual.
You need to know the Power of 10EMA when applied to forex trading. If we want to keep thing simple, this is one which I would recommend traders to simply use the 10EMA in all different timeframes in their top down analysis. CONSISTENCY is key because we all know there is no holy grail.
The Power of 10EMA Post#8,528 by FF member named tango-1
Remember we do no trade the moving averages. We use them as tools to help us define the 'trend' we want to trade.
Trading is visual, if it helps you visualize better, why not.
Both LE1 and X-Man who are the best TMS traders here uses the 10/50/200EMAs.
Other TMS traders like snarlyjack uses the Guppy MAs.
Learn from them.
They did it and it is not unusual.
You need to know the Power of 10EMA when applied to forex trading. If we want to keep thing simple, this is one which I would recommend traders to simply use the 10EMA in all different timeframes in their top down analysis. CONSISTENCY is key because we all know there is no holy grail.
The Power of 10EMA Post#8,528 by FF member named tango-1
Remember we do no trade the moving averages. We use them as tools to help us define the 'trend' we want to trade.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #88,480
- Jul 17, 2018 7:42am Jul 17, 2018 7:42am
- Joined Nov 2008 | Status: Trader | 50,194 Posts
Example of Price Action trading using 10/50/200 EMAs ...no need for TDI cross, etc.
Keep It Simple .. only when you know how, when and where to trade like X-Man and LE1.
Keep It Simple .. only when you know how, when and where to trade like X-Man and LE1.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett