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Trading Made Simple

  • #93,101
  • Jan 14, 2019 1:10pm Jan 14, 2019 1:10pm
Quoting Divergence
{quote} hey Steve there are micro HHHL pullbacks to s and d you can also profit from

Hi Divergence,

I've seen how you use Price Structure on Tick Charts to Trade Futures and I "Tip my Hat" to you.
  • #93,102
  • Jan 14, 2019 1:36pm Jan 14, 2019 1:36pm
Quoting stevepatt
{quote} Hi Iddd, Here you go an M1 Chart with a M30 Grid for Reference and look to Trade with Structure and Price. The smaller the TF I use the more detail I see.... {image} {image} {image}
Too late in the day to be Trading really but to prove a point...

I saw PRICE Fail to make a New High where I Anticipated and took a Calculated Risk.

At the end of the day this is what Trading comes down to Calculated Risk.

I mainly Trade GBP/USD because of it's Volatility and by Trading M1 means I can get good R returns from relatively small Market moves.
Attached Image (click to enlarge)
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  • #93,103
  • Jan 14, 2019 2:07pm Jan 14, 2019 2:07pm
by the way Steve I trade off 30 second chart. That trade is a 123 break pullback to supply candle nice trade
  • #93,104
  • Jan 14, 2019 2:37pm Jan 14, 2019 2:37pm
Quoting Divergence
by the way Steve I trade off 30 second chart. That trade is a 123 break pullback to supply candle nice trade
Are you for real? How many pairs do you follow at any one time?
  • #93,105
  • Jan 14, 2019 2:38pm Jan 14, 2019 2:38pm
Quoting AkronD
{quote} Are you for real? How many pairs do you follow at any one time?
Just the emini Nasdaq nothing else is needed
  • #93,106
  • Jan 14, 2019 2:38pm Jan 14, 2019 2:38pm
Quoting lddd
Trading currencies sucks these days. Everything up and down in a tight range. Any alternative?
Do you think it's because there is always news around the corner these days?
  • #93,107
  • Jan 14, 2019 3:15pm Jan 14, 2019 3:15pm
Quoting AkronD
{quote} Do you think it's because there is always news around the corner these days?
not really been trading it for 6 years its the biggest daily range and it moves huge
  • #93,108
  • Jan 14, 2019 3:28pm Jan 14, 2019 3:28pm
Quoting Divergence
{quote} Just the emini Nasdaq nothing else is needed
Can you point me to the relevant reading material - honestly, i'm just curious how somebody trades 30 second charts.
  • #93,109
  • Jan 14, 2019 3:34pm Jan 14, 2019 3:34pm
Quoting stevepatt
{quote} Too late in the day to be Trading really but to prove a point... I saw PRICE Fail to make a New High where I Anticipated and took a Calculated Risk. At the end of the day this is what Trading comes down to Calculated Risk. I mainly Trade GBP/USD because of it's Volatility and by Trading M1 means I can get good R returns from relatively small Market moves. {image}
hi steve ,nice to see a old friend in old place(you know this place is not same as our old day's)
Say something meaningful or Silence!!
  • #93,110
  • Jan 14, 2019 6:26pm Jan 14, 2019 6:26pm
Quoting emmanuel7788
{quote} {image} EURNZD Week 03 Jan 14 to 18, Surprising, EN made ist move on Friday. Next week, my plan is sell on D1 with TMS MEME. {image}

EURNZD Week 03 D1 Jan 14 to 18:

Trade according to plan.

Price move up, price moves down, range can be narrow and it can also be wide. Know the market type conditions and pick the strategy according to the market type. The rest is money management strategy plus your mental fitness to deal with your emotions.

Open positions during the D1 retracement and closed 3 positions with small profits.
When I see a break lower, the money game will change.

Attached Image (click to enlarge)
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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #93,111
  • Jan 14, 2019 6:37pm Jan 14, 2019 6:37pm
Quoting stevepatt
{quote} Hi Emmanual, Everyone Trading Forex is on an Individual journey. It's a matter of finding what works, for us, as Individuals, as Tekkies says some find Indicators work for them and others use Price. Many use TMS as a stepping stone before moving to another Level of Trading. Others, if they are lucky, will find what they need to be profitable from the TMS System as Eeelfranz set it out. I have no idea who has been profitable using the TMS System over the years but it's no good trying to convert everyone to Price Action Trading and thinking...

Hi Steve,



Fully agree. Exactly what Big E said in his Post#658.

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Anyone with less than 4 years trading TMS and claim to be consistently profitable by just following the TDI and Post#647 is a liar.

We all follow the trading journey of Big E by starting reading his posts in his old thread and moved on to this thread. He showed us his journey starting like all newbies did. It has been quite a long journey since 2008. Many traders have moved on in their own journey an will continue into different paths.
Price action trading is huge topic and no two traders see price action the same way. The same for those who trade Elliot Waves, Harmonic Patterns, etc. some can many can't.

At the end of the day, trading with indicators is easy to learn and will continue to attract many to trade the markets.

Regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #93,112
  • Jan 14, 2019 6:41pm Jan 14, 2019 6:41pm
One of my favourite author on psychology

Ari Kiev

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #93,113
  • Jan 14, 2019 6:58pm Jan 14, 2019 6:58pm
MASTERING THE TRADING MENTAL GAME : some good read for this week and its free!

http://www.fxtradermagazine.com/
https://content.yudu.com/libraryHtml...40/reader.html
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #93,114
  • Edited 10:13pm Jan 14, 2019 9:49pm | Edited 10:13pm
Quoting emmanuel7788
{quote} EURNZD Week 03 D1 Jan 14 to 18: Trade according to plan. Price move up, price moves down, range can be narrow and it can also be wide. Know the market type conditions and pick the strategy according to the market type. The rest is money management strategy plus your mental fitness to deal with your emotions. Open positions during the D1 retracement and closed 3 positions with small profits. When I see a break lower, the money game will change. {image}
Hi Emmanuel,

My BPP also said sell EZ this week, so opened my first position on Monday open and as I am still trading MEME manually, I had my next sell limit just under H1 resistance at around 1.6880 which was not filled, so I am not in the money yet, while you have made some goods pips already. Game manual trading vs auto trading?

Can you explain to me what are the red and blue "moving average looking" lines on your chart are?

Thanks,

okoso
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  • #93,115
  • Jan 15, 2019 12:58am Jan 15, 2019 12:58am
GBP/USD M30/M1 Long Trade

Here's another example of Trading Price and Structure
Attached Image (click to enlarge)
Click to Enlarge Name: 15th Jan 19 GBP:USD M1 Long Trade.png Size: 123 KB
  • #93,116
  • Edited 1:39am Jan 15, 2019 1:14am | Edited 1:39am
Quoting stevepatt
{quote} Hi Kain, It takes both time and practice to understand before you can Trade "it" with confidence. By Trading M1 I can see far more detail. Divergence uses Tick Charts to Trade Futures so it can be used at any Fractal Level. {image}
I am not looking for a strategy/system to scalp the markets soley by my own eyes. Even if this might work out for high experienced traders with lots of screen time watching and analysing charts to its bones for years.

First. I donīt have the time to repeat this and draw a picasso on my chart each new day. With HH/HLs, trendlines, S/R and so on... Secondly and far more important i donīt think its even necessary to make money by trading the financial markets.

So it probably all comes down to my personal goals and needs again, which are

To end up in about 50 Pips on average per week

And without.

- Having to leave trades open before the day ends (H4, Daily, Weekly).
- Making a lot of single trades because cherry picking signals based on the TMS/TDI requires me to watch at least multiple markets. Because 9 out of 10 are ranging/sideways for most of the time. And the one good currency pair which might be "trending" i need to watch 24 hours to move for 50 pips in one direction without collapsing, lol...

So even if you are able to cherry pick the TMS signals based on the TDI/Stoch + Price Action by only looking at one market 5 active trading days per week. To me there seems to be no way you will be able to have repeating success here in a way to be able to pay the bills, make enough money to compensate at least the time you need to spend here.

---

Regarding to pure price action trading like what might be Divergence and some others are doing on the E-Mini Nastaq

There seems to be no clear rules here! What is determined as a 123 pullback and so on. Every person in the world could probably spot these "patterns" completely differently for e.g by start counting single ticks or bars from another starting point. By using a different broker/different price data feed, different ISP, different personal situation, different (what ever).

Thatīs something always irritated me when i heard from people sayings like "but hey, price action is king". So, what does it helps if it canīt be taught in a way that can be repeated each new day. So a Price Action Trader (A) by the end of the lesson is still able to end up with complete different results than Price Action Trader (B). Because he started counting this 123 pullback formation from another starting point...

I mean this is no system, no strategy to me. This is doing something randomly based on personal experience. Nothing else. There is no reason to blame the success, if this works out for Person A, great. But thats not my point.
  • #93,117
  • Jan 15, 2019 1:23am Jan 15, 2019 1:23am
Brexit day today Watch for impact.
  • #93,118
  • Edited 2:24am Jan 15, 2019 2:13am | Edited 2:24am
Quoting lddd
{quote} I am not looking for a strategy/system to scalp the markets soley by my own eyes. Even if this might work out for high experienced traders with lots of screen time watching and analysing charts to its bones for years. First. I donīt have the time to repeat this and draw a picasso on my chart each new day. With HH/HLs, trendlines, S/R and so on... Secondly and far more important i donīt think its even necessary to make money by trading the financial markets. So it probably all comes down to my personal goals and needs again, which are To...

I honestly find price structure subjective to a decent degree. There are times where one could look at the structure and confidently say something like 100 people out of 100 would see that as a hl, hh
and there are time where it could be both a hh or a hl depending on how one counts the swings

price structure is similar to elliot wave theory in that it is subjective.

I've lost count of the amount of time when counting swings in an uptrend i've seen a lower high and lower lower. now according to some [like divergence] this is where a new trend begins. But usually [despite the lower high and lower low] price will soon reverse in the opposite direction in continuation of the prior trend. Therefore if his trends are not reversing like that, it's down to subjectivity of counting the swings, and without clear rules in place [to insure everybody gets the same swing count], higher highs and lows ain't as reliable as people like to make out.

something recently i have found significantly more reliable are indicators.
if price is above 50 on your indicator you are in an uptrend [on that tf] if price is below 50 on that indicator then you are in a downtrend [on that tf],
now wack on that indicator to include all the time frames and you have a pretty good picture of the trend, and when you combine that with hh's,hl's you find trading becomes a lot more reliable. i've been doing that, marking genesis entries in real time and so far 11/15 are winners [if you don't touch your sl], and the losers tbh were probably my fault [entering when stocs were on the floor, entering at 4pm uk time, entering just below strong resistance]
  • #93,119
  • Jan 15, 2019 2:30am Jan 15, 2019 2:30am
Quoting arasheed
Brexit day today Watch for impact.


voting is at 7pm-8:30 PM UK time

is it worth getting into any gbp trades today? or is this brexit thing just going to f**k things up and have price range all day then go wild after the event [like what happens with NFP a lot of the time]
  • #93,120
  • Jan 15, 2019 2:35am Jan 15, 2019 2:35am
Quoting kain775
{quote} voting is at 7pm-8:30 PM UK time is it worth getting into any gbp trades today? or is this brexit thing just going to f**k things up and have have price range all day then go wild after the event [like what happens with NFP a lot of the time]
Actually the f*ck things up situation is going on for monthes already

I am currently short on GU but also made dozens of trades in the last weeks looking similar to this one which ended in a loss (Even with that strong nice looking TDI angle with Stoch confirming..). So need to make another 12-13 trades just to recover from the loss to break even.

Attached Image (click to enlarge)
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Update: I promise this GU trade will blast for 5-10 pips touching down before it collapses again with a huge upwards move ...
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petkue