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Trading Made Simple

  • #89,121
  • Aug 3, 2018 12:28pm Aug 3, 2018 12:28pm
Quoting lddd
{quote} I do have success, I never said anything else. But still the screen you posted makes no sense.


Before accusing you someone, learn how how MT4 works. He has profit showing in pips rather than dollar value.

Open price 1.70099 - close price 1.69066 =0.1033 basically 103.3 pips
  • #89,122
  • Aug 3, 2018 1:50pm Aug 3, 2018 1:50pm
Quoting DJsignals
{quote} I dont know what you mean.
Pulled a sock over your head.
Made a joke and you took it seriously.
  • #89,123
  • Aug 3, 2018 2:01pm Aug 3, 2018 2:01pm
Quoting Ss45
{quote} Before accusing you someone, learn how how MT4 works. He has profit showing in pips rather than dollar value. Open price 1.70099 - close price 1.69066 =0.1033 basically 103.3 pips
Yes i know. I was only fooling. Great weekend to all.
  • #89,124
  • Edited 6:19pm Aug 3, 2018 6:00pm | Edited 6:19pm
I finally found some time to dive into price action and learn how to read a naked chart in a little more depth. And no, i am still far away from being a master at it :-) Also i gained some better understanding of the TDI it self (which in my understanding so far is nothing more than a combination of the RSI, Moving Averages and Bollinger Bands) So catching momentum, volatility and direction in one window with the Yellow Baseline showing trend direction.

Now i still do not understand the following. Every time we have a cross of the red signal line line it gives us a possible trade setup (the idea behind the hole story here). Some or even a lot of these signals (depending on your time frame) are false ones / will play against you. For this good reason we donīt want to blindly take all of these signals produced. So far so good. But then i wonder why one should still look at the TDI at all? Reading through BigEīs rules there are far more rules to follow up before taking a trade instead of just spotting the cross of two lines.

Like (only "some" of them) are:

- Considering the underlying market structure.
- Spotting support and resistance levels properly for the session you trade.
- Looking at different timeframes to see any conflicts.
- And most important of what price looks like (maybe a candle stick pattern formed?)

Now if you canīt have the one without the other. What does the TDI Indicator gives you such an benefit here? Could you explain this to me? I mean even if you have the alert function setted up you still canīt just take the signal it gives to you and hope for good luck.

On the other hand if you are able to see that big picture your self and interpreting price action correctly (so generally what all these shiny indicator windows like the TDI are calculated from) what are you waiting for? If 90% of the information you need to make your trade decision here comes NOT from the TDI cross signal it self to enter in a potential high profitability trade, what does it help? I mean even if you have the alert function on and you only get called to your desk if the notifications hits in you still have to do all the homework....

So why not just get rid of all this fuzz and trade if price tells you to do so?
  • #89,125
  • Aug 3, 2018 6:33pm Aug 3, 2018 6:33pm
About 'empty space' on charts.

To the right of where price is - will always by 'empty space'. That's in the future. We do not predict where price will go in the future. We simply follow where the price will go. This is where you need a mental strategy to follow the price.

To the left of where price is - where we look for 'empty space' for price to move to. We know the past and where the price have been to in the past.

Below is an example GBPCAD.

To move into 'empty space', we need want to see volatility in the market. You choose the indicator you have best experience with and use that to help you in your trading.

Next week, I will continue with selling with my banked-in profits. It is all 'free trades', and that is what stress free trading is about. Some like to say: Trade with money you can afford to lose.

High probability is the D1 candle that will close below 1.6805 will be a full body candle, This can be next week or weeks later.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPCAD Week 32 D1 Close PTA.png Size: 52 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #89,126
  • Aug 3, 2018 7:03pm Aug 3, 2018 7:03pm
A Lesson in Trading Psychology:

The TDI Green cross Red is merely what that indicator produces as signals. The TDI signals are not trade setups.

You decide base on your own market knowledge and experience what trade trade setups are.
The TDI signals will result in two kinds of trades:
Those signals that make you money and those signals that give you information only.

WHEN and WHERE to trade, and WHEN and WHERE NOT to trade

Attached File(s)
File Type: pdf A Lesson in Trading Psychology.pdf   15 KB | 811 downloads


Trade only the best setups.
What are the best setups?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #89,127
  • Aug 3, 2018 9:06pm Aug 3, 2018 9:06pm
Hi,

I'm a newbie.
I have one question.

How to avoid the fake like a white arrow?
I don't know what no reason to...

Thx.
Attached Image (click to enlarge)
Click to Enlarge Name: 0804_AUDUSD.jpg Size: 767 KB
  • #89,128
  • Aug 3, 2018 9:28pm Aug 3, 2018 9:28pm
Quoting KennethYang
Hi, I'm a newbie. I have one question. How to avoid the fake like a white arrow? I don't know what no reason to... Thx. {image}
If you check the daily tdi when on h4 and not go against it you would be looking to buy not sell.
Success means going from failure to failure without loss of enthusiasm
  • #89,129
  • Aug 3, 2018 9:52pm Aug 3, 2018 9:52pm
Can someone provide their perspective on the subject of dealing with the onset of trading psyche positive affirmations and also how to tackle losing trades because we all know nobody can have 100% positive trades in the market.
Me personally tried to trade the markets with very calm music in the background so it doesn't interrupt my trading decisions where you have to stay alert for most of the day. When I saw (on youtube) institutional traders at their desks they were always buttoned up, combed hair, nice tan etc while I preferred to wear more casual and when I went on break I knew I have only half hour not to miss any action to prepare my meal because I prefer homecooking not some ton of garlic sauce take away.
I usually tried to stay hydrated throught trading day and sometimes even cracked open an energy drink to stay laser focused. Besides that I wanted to stay in shape so I did nordic walking.
Now I prefer looking at long timeframes because I don't feel so comfortable with clicking on intra day candles but I guess that comes with some experience which every aspiring market participant must obtain.
Also I tried to develop a system where I can combine both European and American sessions because I know it may look challenging for some traders at first.
  • #89,130
  • Edited 12:19am Aug 4, 2018 12:06am | Edited 12:19am
Quoting lddd
So why not just get rid of all this fuzz and trade if price tells you to do so?
You gave insight to the reason for many a fight in this thread.
------------
"On the other hand if you are able to see that big picture your self and interpreting price action correctly"
-----------
Saying is 90% traders lose their money which means that 90% does not interpret Price Action correctly. Price Action, like TDI also give false signals. Both use information from where price was in the past.
Based on that 90%:
- TDI is merely handy tool that only indicate a possibly trade which shorten's the time spend in front of the screen. You as the trader must make then the decision (post#647) to place that trade which might be wrong 90% of the time.
- Price Action on the other hand you as the trader must continuously spend time to find the right set up and when found might be wrong 90% of the time.
JayBlankfein: ".....you have to stay alert for most of the day...." sum price action rather nicely up.
  • #89,131
  • Aug 4, 2018 1:52am Aug 4, 2018 1:52am
'You as the trader must make then the decision (post#647) to place that trade which might be wrong 90% of the time.'

Err, sorry mate. I know those aren't your words but that simply ain't good advice. F*ck dat.
'in less than half an hour he made over 100 ticks'
  • #89,132
  • Aug 4, 2018 2:01am Aug 4, 2018 2:01am
Quoting JayBlankfein
Can someone provide their perspective on the subject of dealing with the onset of trading psyche positive affirmations and also how to tackle losing trades because we all know nobody can have 100% positive trades in the market. Me personally tried to trade the markets with very calm music in the background so it doesn't interrupt my trading decisions where you have to stay alert for most of the day. When I saw (on youtube) institutional traders at their desks they were always buttoned up, combed hair, nice tan etc while I preferred to wear more...
I so want to say something politically incorrect. But out of respect for female viewers... But being relaxed is essential. If you are right handed, sometimes it can be problematic when it comes to operating the mouse.
'in less than half an hour he made over 100 ticks'
  • #89,133
  • Aug 4, 2018 2:45am Aug 4, 2018 2:45am
Quoting onejester
'You as the trader must make then the decision (post#647) to place that trade which might be wrong 90% of the time.' Err, sorry mate. I know those aren't your words but that simply ain't good advice. F*ck dat.
Ok. wrong advice.
Than who or what place the order?
What method / principle / criteria is used to make the decision?
- Fundamental / Technical Analysis, Elliott waves, Price Action, Indicator based............. add post#647 to the list.

What is the right advice Jester?
  • #89,134
  • Aug 4, 2018 3:05am Aug 4, 2018 3:05am
Quoting Tekkies
{quote} Ok. wrong advice. Than who or what place the order? What method / principle / criteria is used to make the decision? - Fundamental / Technical Analysis, Elliott waves, Price Action, Indicator based............. add post#647 to the list. What is the right advice Jester?
Whatever I post will be pointless because it will be washed away with a ton of BS that follows it. In any case, you can't expect me to be serious. This is the comedy thread right?

Even Emmanuel said it.
'in less than half an hour he made over 100 ticks'
  • #89,135
  • Aug 4, 2018 3:51am Aug 4, 2018 3:51am
Quoting KennethYang
Hi, I'm a newbie. I have one question. How to avoid the fake like a white arrow? I don't know what no reason to... Thx. {image}
Look left
the cautious seldom err....C
  • #89,136
  • Aug 4, 2018 4:08am Aug 4, 2018 4:08am
EURAUD

More Empty space here and 185 pips to next Target - The Monthly line at 1.5450

A nice break away from previous very strong consolidation area at the Bankers resting spot or Monthly Line at 1.5784
I see a nice run down the hill to the next strong consolidation area, a clear break away and nice TDI movement on H4.
My strategy will be to add to this winning position with addition trades with every strong M5 cross till price action tells me its exhausted.
That's keeping my pip count growing on each cross trade I make but I need to monitor very closely the gap between the average price and the current price.

It's been stuck in this resting area for around 6 weeks so I'm betting on this being a very very strong move next week.

Chart 1 - Day Chart / Chart 2 - H4
Attached Image(s) (click to enlarge)
Click to Enlarge Name: ea space.png Size: 171 KB
Click to Enlarge Name: ea h4.png Size: 205 KB
Trading thin liquidity at the boundary of the charts
  • #89,137
  • Aug 4, 2018 4:17am Aug 4, 2018 4:17am
Quoting RickM
EURAUD More Empty space here and 185 pips to next Target - The Monthly line at 1.5450 A nice break away from previous very strong consolidation area at the Bankers resting spot or Monthly Line at 1.5784 I see a nice run down the hill to the next strong consolidation area, a clear break away and nice TDI movement on H4. My strategy will be to add to this winning position with addition trades with every strong M5 cross till price action tells me its exhausted. That's keeping my pip count growing on each cross trade I make but I need to monitor very...
I think this is even better
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUDDaily.png Size: 56 KB
the cautious seldom err....C
  • #89,138
  • Aug 4, 2018 5:10am Aug 4, 2018 5:10am
Quoting RickM
EURAUD More Empty space here and 185 pips to next Target - The Monthly line at 1.5450 A nice break away from previous very strong consolidation area at the Bankers resting spot or Monthly Line at 1.5784 I see a nice run down the hill to the next strong consolidation area, a clear break away and nice TDI movement on H4. My strategy will be to add to this winning position with addition trades with every strong M5 cross till price action tells me its exhausted. That's keeping my pip count growing on each cross trade I make but I need to monitor very...
Where's your stop at buddy?
'in less than half an hour he made over 100 ticks'
  • #89,139
  • Aug 4, 2018 5:34am Aug 4, 2018 5:34am
Quoting onejester
{quote} Where's your stop at buddy?
Hi Onejester

Always above Daily swing High and above the consolidation area at 1.5893 so that's a massive 262 pips higher than current price. I also look at the ADR(100) x 2.5 which equals about 260 pips. But I never look at a trade as a single entry, I look to build positions if its running in my trade direction or trade against my opening position on M5 TDI crosses to save the position. That way you will have very few losses in you think of a position as a basket of 3 - 5 trades.

Here is an example on a trade I opened with EURJPY late last week. Trade 1 when bad pretty quick so I simply waited for London open a day later and machine gun a few trades against trade 1. Within a few hours, I had turned a 130 pip loss into a 20 pip win.

We are traders aren't we so why shouldn't we change our trade decision when we stuff up to save our bacon. I know some traders can't trade both ways on the same account so a secondary account will do the trick as well.
Attached Image (click to enlarge)
Click to Enlarge Name: ej save ej.png Size: 164 KB
Trading thin liquidity at the boundary of the charts
  • #89,140
  • Aug 4, 2018 6:35am Aug 4, 2018 6:35am
Quoting pips29
{quote} Look left
What do you mean?
Could you explain in a little bit more detail, plz?

Thx.
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