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Trading Made Simple(r)

  • #1,401
  • Jul 15, 2019 12:08am Jul 15, 2019 12:08am
Quoting emmanuel7788
Example EURUSD D1 Jul 15 EP Sl and TPs with adjusted initial SL using 2 bars/candle look back.ed {image}

Some posts back you was talking about turning 1.5R to 2.5R how is it done ?

Are you entering multiple units and if so how ?

Are you trailing stops 2 bars back or a different way maybe 1 bar ?

Best regards
  • #1,402
  • Edited 3:29am Jul 15, 2019 3:16am | Edited 3:29am
Let's see what's going on!
Attached Image (click to enlarge)
Click to Enlarge Name: AUDNZDH4.png Size: 33 KB
Attached Image (click to enlarge)
Click to Enlarge Name: NZDCHFH4.png Size: 36 KB
  • #1,403
  • Jul 15, 2019 3:47am Jul 15, 2019 3:47am
Quoting emmanuel7788
{quote} Nice! I have made two MT4 scripts to draw those EP SL and TPs level.. see my Oct 2014 post# 43,061 in the TMS thread you can download those two scripts here: https://www.forexfactory.com/showthr...69#post7836469 if anyone wants to make changes, please feel to ask. Edit. ***important note*** when you use those scripts, you can saved them in your Navigator Favouries folder (your frequently used scripts) and simply you drag and drop...
Thanks for doing this Emmanuel, I am now using these and they are very useful.
regards, Peter
Just trying to put a kiss on the cheek of success
  • #1,404
  • Jul 15, 2019 3:55am Jul 15, 2019 3:55am
Quoting paroucia
Let's see what's going on! {image}{image}
Hi, I can not see wich pairs and timeframe are the graphs, thanks.

Looking Short AUDNZD
  • #1,405
  • Jul 15, 2019 4:11am Jul 15, 2019 4:11am
Quoting marcara
{quote} Hi, I can not see wich pairs and timeframe are the graphs, thanks. Looking Short AUDNZD
Hi
Sorry, i made a mistake! those are GBPCHF and AUDNZD.
and right now with new candles i'm short GBPCAD.

Good Luck
  • #1,406
  • Jul 15, 2019 4:17am Jul 15, 2019 4:17am
Quoting pet3250
{quote} Thanks for doing this Emmanuel, I am now using these and they are very useful. regards, Peter

Hi Peter

You are most welcome.

If you need any personal customization, do let me know and I can do it quite easily.

Trade Well and make money.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #1,407
  • Jul 15, 2019 4:49am Jul 15, 2019 4:49am
Quoting paroucia
{quote} Hi Sorry, i made a mistake! those are GBPCHF and AUDNZD. and right now with new candles i'm short GBPCAD. Good Luck
GBPCAD was wrong decision! i closed it!
i'm sorry.
  • #1,408
  • Jul 15, 2019 5:11am Jul 15, 2019 5:11am
Quoting emmanuel7788
{quote} Hi RH based on your experience, when do you start move your stops using this 2bars look back? reason why I ask is because I use THV CaveManager to manage some of my trades and its default setting is to move trailing stops TSL by trailing using 1-bar look back and only when the price has made a higher high (buy) or lower low(sell). thanks and regards.
As soon as I enter a new trade I place the initial stop 2 candles back. Then every 4 hours, I trail it closer IF required. Or I eventually get stopped out.

You can use 1 candle back, I do sometimes if the candle 1 candle back is loooong.

The reason I chose 2 candles back is because very often they will take out the high or the low 1 candle back, but not near as often with 2 candles back.
Always a Student, Never a Master - Emulate What Works
  • #1,409
  • Edited 5:28am Jul 15, 2019 5:14am | Edited 5:28am
Here's what I am watching VERY closely:

AUDUSD
NZDUSD
EURNZD
EURAUD
NZDCAD
GBPNZD
NZDJPY

They ALL are at EXTREMES and they ALL are LIKELY setting up for big reversals on the 4 hr. charts.

Of the 7, I these 4 the best:

AUDUSD
NZDUSD
EURNZD
EURAUD

Of those 4, the NZDUSD is at the most extreme and MAY be the first one of the 4 to turn down.
Always a Student, Never a Master - Emulate What Works
  • #1,410
  • Jul 15, 2019 5:33am Jul 15, 2019 5:33am
Quoting RobinHood
Here's what I am watching VERY closely: AUDUSD NZDUSD EURNZD EURAUD NZDCAD GBPNZD NZDJPY They ALL are at EXTREMES and they ALL are LIKELY setting up for big reversals on the 4 hr. charts. Of the 7, I these 4 the best: AUDUSD NZDUSD EURNZD EURAUD Of those 4, the NZDUSD is at the most extreme and MAY be the first one of the 4 to turn down.
and what pairs you have open right now, sir? : )
  • #1,411
  • Jul 15, 2019 5:39am Jul 15, 2019 5:39am
Quoting paroucia
{quote} and what pairs you have open right now, sir? : )
None
Always a Student, Never a Master - Emulate What Works
  • #1,412
  • Jul 15, 2019 5:41am Jul 15, 2019 5:41am
Quoting RobinHood
Here's what I am watching VERY closely: AUDUSD NZDUSD EURNZD EURAUD NZDCAD GBPNZD NZDJPY They ALL are at EXTREMES and they ALL are LIKELY setting up for big reversals on the 4 hr. charts. Of the 7, I these 4 the best: AUDUSD NZDUSD EURNZD EURAUD Of those 4, the NZDUSD is at the most extreme and MAY be the first one of the 4 to turn down.
Many Thanks Robinhood,

AUDUSD daily chart is reserversing UP, so I guess we should look for long trades only, is it right?
NZDUSD daily chart is also UP, so H4 I guess we should also look fo long trades only?
EURNZD Daily is down so H4 looking for down?
ERUAUD Daily down so H4 loojing for down?

Thanks in advance
  • #1,413
  • Jul 15, 2019 5:53am Jul 15, 2019 5:53am
Quoting marcara
{quote} Many Thanks Robinhood, AUDUSD daily chart is reserversing UP, so I guess we should look for long trades only, is it right? NZDUSD daily chart is also UP, so H4 I guess we should also look fo long trades only? EURNZD Daily is down so H4 looking for down? ERUAUD Daily down so H4 loojing for down? Thanks in advance
AUDUSD > Down
NZDUSD > Down
EURNZD > Up
EURAUD > Up

These are just my "educated opinions". I may end up being wrong.
Always a Student, Never a Master - Emulate What Works
  • #1,414
  • Jul 15, 2019 6:00am Jul 15, 2019 6:00am
Quoting RobinHood
Here's what I am watching VERY closely: AUDUSD NZDUSD EURNZD EURAUD NZDCAD GBPNZD NZDJPY They ALL are at EXTREMES and they ALL are LIKELY setting up for big reversals on the 4 hr. charts. Of the 7, I these 4 the best: AUDUSD NZDUSD EURNZD EURAUD Of those 4, the NZDUSD is at the most extreme and MAY be the first one of the 4 to turn down.

RobinHood,
I agree with what you're watching. Keep a close eye on GBPNZD though. It looks like it's getting ripe for the reversal? NZDUSD could push up further into Daily resistance. Overall, it looks like it's going to be a really good trading week with big moves.

Thanks for guiding this thread and giving assistance!
  • #1,415
  • Jul 15, 2019 6:10am Jul 15, 2019 6:10am
Quoting OnAJourney
{quote} RobinHood, I agree with what you're watching. Keep a close eye on GBPNZD though. It looks like it's getting ripe for the reversal? NZDUSD could push up further into Daily resistance. Overall, it looks like it's going to be a really good trading week with big moves. Thanks for guiding this thread and giving assistance!
Thanks for pointing that out!

I just noticed that there was a textbook Continuation Trade on the 4 hr. GBPNZD. Problem is, I was asleep when it started.
Always a Student, Never a Master - Emulate What Works
  • #1,416
  • Jul 15, 2019 6:22am Jul 15, 2019 6:22am
Quoting RobinHood
{quote} AUDUSD > Down NZDUSD > Down EURNZD > Up EURAUD > Up These are just my "educated opinions". I may end up being wrong.
Thanks, I do not understand the rationalle behind AUDUSD, NZDUSD Down.

NZDUSD is close to previous swing and also has the SMA200 as resistance, but If you would like to take a H4 short, Don't you need confirmation from the daily chart? I mean daily indicators below 50, daily redcandle at least ..

Same for AUDUSD
  • #1,417
  • Jul 15, 2019 6:24am Jul 15, 2019 6:24am
Quoting RobinHood
{quote} Thanks for pointing that out! I just noticed that there was a textbook Continuation Trade on the 4 hr. GBPNZD. Problem is, I was asleep when it started.
We all have to sleep sometime I'd like to set my alerts loud enough to wake me up if I need to - but sometimes sleep is more precious.

I'm curious to see what NZD "news" does to those two pairs today.
  • #1,418
  • Jul 15, 2019 6:29am Jul 15, 2019 6:29am
Quoting marcara
{quote} Thanks, I do not understand the rationalle behind AUDUSD, NZDUSD Down. NZDUSD is close to previous swing and also has the SMA200 as resistance, but If you would like to take a H4 short, Don't you need confirmation from the daily chart? I mean daily indicators below 50, daily redcandle at least .. Same for AUDUSD
I want to say this as politely as I can.

I have THUS FAR ONLY taught the BASICS of my methods, but I have not YET taught the more ADVANCED things.

If I did, it would be WAY TOO OVERWHELMING for 97% of the traders here.

MAYBE some day I will expose more of how I do what I do, and how I see what I see, but not now.
Always a Student, Never a Master - Emulate What Works
  • #1,419
  • Jul 15, 2019 6:57am Jul 15, 2019 6:57am
Quoting RobinHood
{quote} I want to say this as politely as I can. I have THUS FAR ONLY taught the BASICS of my methods, but I have not YET taught the more ADVANCED things. If I did, it would be WAY TOO OVERWHELMING for 97% of the traders here. MAYBE some day I will expose more of how I do what I do, and how I see what I see, but not now.
Thanks RobinHood, I was a bit confused.

It wil be perfect If one day you decide to share your market point of view.
Meanwile, with just one example in AUDUD or NZDUSD I ll be pleased

Best reagards
  • #1,420
  • Jul 15, 2019 6:57am Jul 15, 2019 6:57am
Quoting RobinHood
{quote} I want to say this as politely as I can. I have THUS FAR ONLY taught the BASICS of my methods, but I have not YET taught the more ADVANCED things. If I did, it would be WAY TOO OVERWHELMING for 97% of the traders here. MAYBE some day I will expose more of how I do what I do, and how I see what I see, but not now.
That would be something to look forward to and study for the future , thank you !


also thanks for posting your watch hit list for the week , this is very helpful
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