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Trading Made Simple

  • #94,501
  • Mar 5, 2019 12:40pm Mar 5, 2019 12:40pm
Quoting emmanuel7788
DE30 Mar 05 D1 Big Picture It was interesting yesterday it open with gap up. looking to the far left, we see a few previous spikes to that level. That gray zone is danger zone for buyers. Sometimes the market will set up traders for the slaughter when we traders are just looking for trade setups. Some traders will sell seeing the yesterday' D1 bearish close. We shall see by the end of this week. I have open buy positions in one basket with average entry price 11068. Maybe I make profits or maybe I have to cut-loss this week or breakeven basket with...

DE30 Mar 05 D1 update London Closed.

Market move back UP and above the average entry price 11068 of my open positions in one basket. I remain patient with this pair now.

Attached Image (click to enlarge)
Click to Enlarge Name: DE30 Mar 05 D1 big Picture 06-03-2019 02-36-09.png Size: 28 KB


Weekly still bullish with little retracement so far.

Attached Image (click to enlarge)
Click to Enlarge Name: DE30 Mar 05 W1 06-03-2019 02-41-56.png Size: 45 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #94,502
  • Mar 5, 2019 1:21pm Mar 5, 2019 1:21pm
Quoting mi5mi6
{quote} Hi Emmanuel, i have a question on 3 time frame analysis. On this weekly chart red arrow. As you can see it took 3 weeks for the candle to move below 5ema to confirm a down move. Does it mean i have to wait for 3 weeks for W/D/H4 to align then i can look at a short entry? Also on Tokyo 5H. Do i start counting the first hour from Tokyo market opening hour? I tried search box there're just too many search results. Thanks for your help. {image}

GBPAUD Weekly

On your chart, you must have done your top down analysis and you should see a few of those MN swing levels.
In that week where you marked with red arrow, there are two MN swing levels - 1.8750 and 1.8531, these go back to 2016 and 2014.
Market made a strong reversal from that zone. Based on this information, you would have gone down to D1 to look for opportunity to swing trade.
That sell trigger was around 1.8350 on D1.

But when you want to use Dr Alexander Elder' Triple Screen Trading System concept, you are correct that all 3 timeframes must be in harmony. However, to wait until Weekly/Daily/H4 with 5EMA as the direction guide, you would have waited 3 weeks.
When you trade following Price Action and Support/Resistance, you would have gone fishing for trading opportunities after a Weekly REVERSAL candle. This means you could have some trades in the week 2 already but the question then would be the amount of money you want to risk in that week because as your know that was no harmony with Triple Screen Trading Systems rules.

Read the book by Dr Alexander Elder and use that book as reference when you do your trading system development.

Attached Image (click to enlarge)
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BTW, looking at the current market, we are in BUY mode, the D1 buy trigger was 1.8257 last month Feb 21 and we shall see if market closes above 1.8750 and the way up can be to 1.9149 with some short term resistance between.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #94,503
  • Mar 5, 2019 1:54pm Mar 5, 2019 1:54pm
A question for the experienced

What methods do you use to get out of the position?
or TDI with H4.
How do you manage the position?
I'm asking because I can not be at the computer all the time.
  • #94,504
  • Mar 5, 2019 2:05pm Mar 5, 2019 2:05pm
Quoting tadekcorona
A question for the experienced What methods do you use to get out of the position? or TDI with H4. How do you manage the position? I'm asking because I can not be at the computer all the time.

if you cannot be at your trading computer all the time, then can consider to use a trade manager like THV CaveManager.

but, question is: are you clear about your own exit strategy and have written down clear rules?

many people are still confused when to use the TDI exit and when to let profits run.

Quoting eelfranz
WHEN TO EXIT ----------------- OK there appears to be some confusion here... According to the rules you exit when the TDI GREEN LINE goes flat, check mark reversal or hooks over.... this is for the conserative trader and works great. However.... note the blue box on the TDI below. See how the green line archs like a worm crawling up the red line without crossing red. You could have stayed in the whole trade without exiting until green crossed red finally. {image}
WHEN TO EXIT ----------------- OK there appears to be some confusion here...

According to the rules you exit when the TDI GREEN LINE goes flat, check mark reversal or hooks over.... this is for the conserative trader and works great.

However.... note the blue box on the TDI below. See how the green line archs like a worm crawling up the red line without crossing red. You could have stayed in the whole trade without exiting until green crossed red finally.

Attached Image (click to enlarge)
Click to Enlarge Name: confusion exit.png Size: 146 KB


keyword search
> aggressive entry
> conservative exit

what about conservative entry with aggressive exit?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #94,505
  • Mar 5, 2019 2:27pm Mar 5, 2019 2:27pm
Quoting emmanuel7788
{quote} if you cannot be at your trading computer all the time, then can consider to use a trade manager like THV CaveManager. but, question is: are you clear about your own exit strategy and have written down clear rules? many people are still confused when to use the TDI exit and when to let profits run. {quote} WHEN TO EXIT ----------------- OK there appears to be some confusion here... According to the rules you exit when the TDI GREEN LINE goes flat, check mark reversal or hooks over.... this is for the conserative trader and works great. However.......
Thank you very much for your answer
Now I am closer to the truth.
Good luck, I wish you emmanuel7788
  • #94,506
  • Mar 5, 2019 6:12pm Mar 5, 2019 6:12pm
Quoting mi5mi6
{quote} ... Also on Tokyo 5H. Do i start counting the first hour from Tokyo market opening hour? I tried search box there're just too many search results. Thanks for your help. {image}
Here is today example of Tokyo Open , its first hour.

Note: the Sydney first 2 Hours are usually very narrow range. You can use this SYD_2H to trade the breakout and make 15 to 20 pips.

It is your local time 8:00AM in Singapore.

Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD Mar 06 Tokyo Open BUEB 06-03-2019 08-03-51.png Size: 51 KB


check with this website,

https://www.timeanddate.com/worldclock
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #94,507
  • Edited 7:16pm Mar 5, 2019 6:28pm | Edited 7:16pm
What is Triple Screen Trading System?

Read this first, Triple Screen trading systems : Post#55,203

https://www.investopedia.com/article.../03/040903.asp

My favourite pic below used by many in FF.
When trading the H1, be in harmony or synergy with H4 and D1...

Attached Image


other posts:
Triple Screen Trading System by Dr Alexander Elder Post#23,973, Post#55200, Post#62,175

Checking three different timeframes charts is a way how we reconcile the TIMING of our trade entry on the lower timeframe where we make our market entry.
We look at the price action and the TDI condition of all three timeframes to confirm the setup is high probability in the direction of the Primary (Dominant) Trend.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #94,508
  • Mar 5, 2019 7:13pm Mar 5, 2019 7:13pm
AUDUSD Mar 06 weaker GDP data market reaction

but it follows the D1 and W1 direction

Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD Mar 06 weaker GDP 06-03-2019 09-10-01.png Size: 47 KB


Attached Image (click to enlarge)
Click to Enlarge Name: AUD GDP Mar 06.png Size: 45 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #94,509
  • Mar 6, 2019 10:38am Mar 6, 2019 10:38am
Quoting emmanuel7788
{quote} @ixam23, both charts show REVERSAL candles, but these are counter-trend trades. you have your exit planned and now you need to follow your trade management rules. Good Trading.
They look pretty good at the moment!
Let's see how far we can go
https://twitter.com/BeauBuyer
  • #94,510
  • Mar 6, 2019 11:38am Mar 6, 2019 11:38am
Hey guys. I need some help. Can somone send me an indicator like this which sends me alerts if a divergence appears? Or program this indi to work perfectly.
Thanks in advance.
Attached File(s)
File Type: ex4 TDI_RT alerts + divergence.ex4   66 KB | 314 downloads
  • #94,511
  • Mar 6, 2019 4:34pm Mar 6, 2019 4:34pm
Are we trading or are we gambling?

watch this.

https://www.forexfactory.com/showthr...4#post11937704
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #94,512
  • Mar 6, 2019 5:01pm Mar 6, 2019 5:01pm
Quoting emmanuel7788
{quote} EURAUD Mar 04 H1 update: It was a boring Monday waiting for a best setup which did not show up. FO and LO did not show many interested parties to buy or sell. 1.600 still is psych level for this week... its Monday Open and also Week Open. Check calendar events. {image}

EURAUD Week 10 Mar 04 to 08 Update:

It was two boring days and it waited for the Aussie GDP release to move and it did yesterday.

At the start of each trading week and day, I check and look at the Weekly timeframe. When the Weekly is above its 5EMA, I am buy bias.

Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD Week 10 W1 Open 06-03-2019 12-28-58.png Size: 44 KB


At the start of each day, I check and look at the Daily timeframe. When the Daily is above its 5EMA, I remain buy bias.

Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD Week 10 D1 wait 06-03-2019 12-29-39.png Size: 39 KB


Therefore, yesterday it was GDP release in the morning session of Sydney/Tokyo, I waited for the opportunity on H1 and buy.

The setup was simple price action - Bullish Engulfing Outside Bar and using TMS template you can see that easier. It is a also a typical REVERSAL candle and it was candle no 3 of a 5-bars reversal, very aggressive entry when we pick the no 3 bar. This is not the classic HA#1 or HA#2 in case some of you get confused here. To distinguish the difference between the 5-bars reversal and the HA#1 and HA#2 entries, you will find them in the old thread where TMS 5-Method started.

Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD Mar 06 H1 entries post-GDP.png Size: 31 KB


...

today is still buy bias and you should learn by now where your initial stop loss (Risk) should be and use that as your Risk 'R' and do your trade Position Sizing.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #94,513
  • Mar 6, 2019 5:12pm Mar 6, 2019 5:12pm
EURAUD Mar 07

If you take trade based on Daily, you would simple open buy when day open.

Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD Mar 07 day open D1 BUEB BUOB.png Size: 41 KB


If you trade based in H1, then you will be waiting for a setup candle,

Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD Mar 07 H1 wait.png Size: 38 KB


If you prefer to trade M15, then there is a setup already, good-to-go.

Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD Mar 07 M15 good to go 07-03-2019 07-08-15.png Size: 35 KB


If you prefer TDI 12-2 or 12-1 or 1 etc... for buy, there is none.

Price action is leading edge over ....
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #94,514
  • Mar 6, 2019 5:25pm Mar 6, 2019 5:25pm
[quote = emmanuel7788; 12085130] {quote} EURAUD Semana 10 de marzo 04 a 08 Actualización: Fueron dos días aburridos y esperó a que el lanzamiento del PIB australiano se moviera y lo hizo ayer. Al comienzo de cada semana y día de negociación, verifico y veo el marco de tiempo semanal. Cuando el Semanal está por encima de su 5EMA, estoy comprando sesgo. {image} Al comienzo de cada día, reviso y miro el marco de tiempo Diario. Cuando el Daily está por encima de su 5EMA, sigo comprando sesgo. {image} Por lo tanto, ayer fue el lanzamiento del GDP en la sesión de la mañana de Sydney / Tokio, esperé la oportunidad en H1 y comprar. La configuración fue una simple acción del precio: Bullish Engulfing Outside Bar y el uso de la plantilla TMS se puede ver más fácilmente. También es una vela REVERSAL típica y fue la vela n. ° 3 de una inversión de 5 compases, una entrada muy agresiva cuando elegimos el n. ° 3. Este no es el clásico HA # 1 o HA # 2 en caso de que algunos de ustedes se confundan aquí. Para distinguir la diferencia entre la inversión de 5 barras y las entradas HA # 1 y HA # 2, las encontrará en el hilo anterior donde comenzó el método 5 de TMS. {image} ... hoy sigue siendo un sesgo de compra y ya debería saber dónde debe estar su pérdida inicial (Riesgo) y utilizarlo como su Riesgo 'R' y hacer su Cambio de Tamaño de Posición. [/ quote]

I had a purchase in AUDUSD but I did not notice yesterday's news. And I was surprised by the drop in the price of AUDUSD.
  • #94,515
  • Mar 6, 2019 5:31pm Mar 6, 2019 5:31pm
Hi Guys,

Been a while since i checked in. Good to see everyone still knockin down pips with this method.

I have drawn on two losses this week so far even when all of Big E's initial rules and criteria had been met. I have posted charts below and where I have entered by a purple arrow. Both trades were long.


NZDJPY was a loss.

EURUSD still open.

Let me know what you guys thinks- especially the SENIORS of this method.

Kind regards,
Roni
Attached Image(s) (click to enlarge)
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  • #94,516
  • Mar 6, 2019 5:47pm Mar 6, 2019 5:47pm
Quoting asclepius67
[quote = emmanuel7788; 12085130] {quote} EURAUD Semana 10 de marzo 04 a 08 Actualización: Fueron dos días aburridos y esperó a que el lanzamiento del PIB australiano se moviera y lo hizo ayer. Al comienzo de cada semana y día de negociación, verifico y veo el marco de tiempo semanal. Cuando el Semanal está por encima de su 5EMA, estoy comprando sesgo. {image} Al comienzo de cada día, reviso y miro el marco de tiempo Diario. Cuando el Daily está por encima de su 5EMA, sigo comprando sesgo. {image} Por lo tanto, ayer fue el lanzamiento del GDP en...
Well, one of many things I do when trade planning on my weekends is to update my trading calendar of events which include the economic news and events.
This will help in currency pair selection, trade management decision when I have open positions/baskets, plan for new tradee, etc.

In the case of AUD pairs this week, it is important that we have a Plan A and a Plan B. Some times, a Plan C will take us back into the market recover losses and make money. Be clever and trade the SMART way.

https://www.forexfactory.com/showthr...5#post12073505
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #94,517
  • Mar 6, 2019 5:55pm Mar 6, 2019 5:55pm
Quoting Roni26
Hi Guys, Been a while since i checked in. Good to see everyone still knockin down pips with this method. I have drawn on two losses this week so far even when all of Big E's initial rules and criteria had been met. I have posted charts below and where I have entered by a purple arrow. Both trades were long. NZDJPY was a loss. EURUSD still open. Let me know what you guys thinks- especially the SENIORS of this method. Kind regards, Roni {image} {image}

NZD/JPY:
this was a bounce off - you should wait for confirmation imo

EU: looks like flat candles atm - time will tell, but entry was correct imo
https://twitter.com/BeauBuyer
  • #94,518
  • Mar 6, 2019 6:20pm Mar 6, 2019 6:20pm
Quoting Roni26
Hi Guys, Been a while since i checked in. Good to see everyone still knockin down pips with this method. I have drawn on two losses this week so far even when all of Big E's initial rules and criteria had been met. I have posted charts below and where I have entered by a purple arrow. Both trades were long. NZDJPY was a loss. EURUSD still open. Let me know what you guys thinks- especially the SENIORS of this method. Kind regards, Roni {image} {image}

What are Big E's initial rules? He has some written rules initially and he also has some discretionary ones too which are different from his initial written rules.

Let's start with rules which you have to write on your own following Post#647.

Your safest trades will always be when green crosses red and you enter on candle 1 or 2... odds are in your favor. Why? Because I'm expecting 3-8 candles... which is average...

1) In your trade planning, do you see there is possible room for a swing of 3 to 8 candles?

With bounce trades the odds are lower for your success... but it still works.

When wanting to enter a TDI trade... take a moment first to observe basic 4x things... like:

How close am I to the previous high or lo

2) Do you see the last swing high and swing low on your trading chart?

Am I in an uptrend or downtrend.. short & long term...

3) What are your short term and long term trends? Is your trading chart timeframe your short term trend?

Am I in or close to a consolidation area

4) How do you define as CONSOLIDATION on charts? Have you identified the CONSOLIDATION areas/zones on your trading chart?


Are the previous candles small...

5) This one is subjective. How small is small? What do you use to define small candles?

Look at the candles on the last reversal... big, little, what

6) Again this is subjective. big and little means different to different people looking at the same chart. You need to have clear and precise ways to define what to look for in a reversal in price. Then you need to be precise what big and little candles are in price reversals.

How does the momentum look right now (12-2, 4-6)

7) This is clock face hour angle is now obsolete. The aspect ratio of you display will hinder your use of the clock face hour hand angle. The angle looks terribly good view on my Galaxy Note9 and the TDI Green look bad when I look at using Galaxy Pro12.

Does Stoch's confirm the TDI signal

8) What are signals? What Stoch and TDI signals are being used here.

We can start with discussions here and you all can start taking notes and write your own trading rules. Once you have written rules and start trading and forward testing your rules in live market, you will then fine-tune your rules and create your own trading system. Eventually, you will have your own winning trading system that fits you only. When you finally have achieved CONSISTENT profits with your own winning trading systems, you will realise that you have your winning EDGE.

Your conclusion then would not be very different from mine below:

Too much time was spent on TDI and Stochastics,
Too little time on Price Action and Support/Resistance.
And no time spend on Money Management, Risk Management for entries and exits, When and How to Let Profits Run.
You need to find your WINNING EDGE and the TDI is not in the winning edge equation.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #94,519
  • Mar 6, 2019 8:25pm Mar 6, 2019 8:25pm
Quoting Roni26
Hi Guys, Been a while since i checked in. Good to see everyone still knockin down pips with this method. I have drawn on two losses this week so far even when all of Big E's initial rules and criteria had been met. I have posted charts below and where I have entered by a purple arrow. Both trades were long. NZDJPY was a loss. EURUSD still open. Let me know what you guys thinks- especially the SENIORS of this method. Kind regards, Roni {image} {image}

EURUSD Week 10 Mar 07 H4 market conditions.

H4 shows CONSOLIDATION ... Mother Bar with Double Inside Bars, avoid trading Stoch and TDI signals under these conditions. You can trade H1 and M15 until the price action breaks out of the H4 Mother Bar high-low range.

Follow your D1 and pick the best setups SELL only. That is high probability.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD Mar 07 H4 Mother Bar DIB 07-03-2019 10-17-59.png Size: 59 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #94,520
  • Mar 6, 2019 8:38pm Mar 6, 2019 8:38pm
Know this when we trade today and tomorrow.
Attached Image (click to enlarge)
Click to Enlarge Name: EUR USD news 07-03-2019 10-35-53.png Size: 59 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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