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  • #99,981
  • Edited 3:06am Jan 24, 2020 2:56am | Edited 3:06am
Quoting lddd
Can this TDI condition to be considered as a "bounce" trade setup? {image}
No.
Look at Post 99,895 GBPUSD and Post 99,904
-----
Iddd you placed the order smack bang in a support / resistance zone. Price can see it as:
resistance and bounce down
support and keep going up

It has already started to pullback so that will mean if M30 keep going down it will pull the higher time frame also down. Check H4 and D1 for wicks to the downside.
check M15 for signs that trend only pulled back and M15 might already started to go up again
  • #99,982
  • Edited 3:16am Jan 24, 2020 3:05am | Edited 3:16am
Quoting lddd
Can this TDI condition to be considered as a "bounce" trade setup? {image}
look more like a TDI green line tweeked its angle...

to have a TDI green line bounce, the price action must show price pull back and follow with a momentum bar/HA candle,

see this example below

GBPUSD - FO candle pulled back and LO candle bullish momentum price action higher higher with higher Close.

Note the TDI#25 green line crossed it red line but when LO candle closed, the green line points upwards.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD Jan24 H1 LO closed 24-1-2020 5-00-07 pm.png Size: 43 KB


Edit:
add details on chart
Note the LO candle is also a REVERSAL candle ...
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD Jan24 H1 price action 24-1-2020 5-12-59 pm.png Size: 39 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #99,983
  • Edited 6:07am Jan 24, 2020 3:11am | Edited 6:07am
Quoting emmanuel7788
{quote} look more like a TDI green line tweeked its angle... to have a TDI green line bounce, the price action must show price pull back and follow with a momentum bar/HA candle, see this example below GBPUSD - FO candle pulled back and LO candle bullish momentum price action higher higher with higher Close. Note the TDI#25 green line crossed it red line but when LO candle closed, the green line points upwards. {image}
emm.. and that is a BUEB.. i entered buy when london closed.

EDIT: i mean tokyo closed

EDIT2: -0.26R, 1st TP hit.. not bad... now plan B..

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 50 KB


EDIT3: net for plan a and b: -0.25R, exit.. imho, as it may be the start of H1 consolidation..

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 51 KB
  • #99,984
  • Jan 24, 2020 3:28am Jan 24, 2020 3:28am
Quoting Tekkies
{quote} No. Look at Post 99,895 GBPUSD and Post 99,904 ----- Iddd you placed the order smack bang in a support / resistance zone. Price can see it as: resistance and bounce down support and keep going up It has already started to pullback so that will mean if M30 keep going down it will pull the higher time frame also down. Check H4 and D1 for wicks to the downside. check M15 for signs...

So how can i avoid not trading into a support or resistance area if i want to enter on a timeframe like M30 or even below. Because there will be most likely ALWAYS any kind of support or resistance area near...

Attached Image (click to enlarge)
Click to Enlarge Name: eurusd-m30-fxopen-investments-inc.jpg Size: 163 KB


If i marked these levels correct on the following chart, also look left to where price broke the support line marked as there was a short entry cross over setup.

What i did was looking at H1 (here TDI changed conditions already to the upside at time of my M30 entry), H4 even still technical in a downtrend maybe also showed selling candles getting smaller.

I really feel hard to get any routine if there is ALWAYS something not correct especially if looking at support or resistance and multiple timeframes.

Lets say i only want to trade one market like i am now trying with EUR/USD. There are simply not that much setups per day to find a setup where just everything is perfect in shape. First its 80-90% in a range/consolidation in the ongoing asian session. Then with EU opens i start looking/trading for 8 hours. I wait for what you might would call a breakout or what ever.
  • #99,985
  • Jan 24, 2020 4:27am Jan 24, 2020 4:27am
Quoting lddd
{quote} So how can i avoid not trading into a support or resistance area if i want to enter on a timeframe like M30 or even below. Because there will be most likely ALWAYS any kind of support or resistance area near... {image} If i marked these levels correct on the following chart, also look left to where price broke the support line marked as there was a short entry cross over setup. What i did was looking at H1 (here TDI changed conditions already to the upside at time of my M30 entry), H4 even still technical in a downtrend maybe also showed...
What is the difference between
- smack bang in a support / resistance zone
- Am I in or close to a consolidation area
Did you check the chart the same way you did now with your last post Post 99,985 ?
----
To answer your question:
Since you are only trading EUR/USD, you wait until price move out of that zone.
also why did you enter a trade on bar 3 after the crossover?
Attached Image
  • #99,986
  • Jan 24, 2020 4:55am Jan 24, 2020 4:55am
Quoting Tekkies
{quote} What is the difference between - smack bang in a support / resistance zone - Am I in or close to a consolidation area Did you check the chart the same way you did now with your last post Post 99,985 ? ---- To answer your question: Since you are only trading EUR/USD, you wait until price move out of that zone. also why did you enter a trade on bar 3 after the crossover? {image}
Thanks. I jumped in on that not according to the rules at all, the cross over was late and as i entered the M30 seemed to be getting some "momentum" to the upside but this didn´t last long, so.

Yes you are also right that it didn´t broke out of that range yet and i should have wait.

But i think thats a different strategy do catch the breakout of the asian session within the FO/LO session. If you wait here for a TDI cross over most likely where you "should" enter in such cases the 15-20 pips move you might want to catch on such lower time frames would have been already done.

It might be better here to create a pending order a few pips above/below the asian range high/low.

You see i couldn´t find any routine in finding a manual trading strategy that works either with my trading hours. And on the other hand where i don´t need to set such a huge stop loss.

The big problem is. Either the market is not moving (and i am in front of the screen), or the market is moving (and i am missing the setup).

You also said to me that setting up alerts for the TDI crossover won´t help because they would be to late...

So what to do if i would want to trade just one market like EU, GU or what ever else but it doesn´t provide enough setups or it provides setups and i am missing them.

Also i would like to find some fixed trading times like for e.g only 4-5 hours after london opened. I know a lot of professional traders would not sit in front of their screens all day long wasting hours of time where markets are not doing anything at all...You know I don´t aim to live for trading, more like the other way around.

Maybe anyone could create some kind of "fixed" trading plan for me i can work out step by step every day for the same hours to find a valid setup and also tell me how i can do this with just trading one market if the market is not doing anything or doesn´t provide the right "condition" at all for the day. So i am able to notice this at a glance and shut down computer again and only come back the next day...

Also would be nice if someone could finally explain to me how i ever should be able to spot consolidation or the direction of the trend where on each single timeframe this could look different. Also a trend or consolidation can begin/end at any time on any time frame, there is no way to predict it. So what does it makes sense to look for a trend or consolidation that was in the past?
  • #99,987
  • Edited 6:17am Jan 24, 2020 5:54am | Edited 6:17am
Quoting lddd
{quote} Thanks. I jumped in on that not according to the rules at all, the cross over was late and as i entered the M30 seemed to be getting some "momentum" to the upside but this didn´t last long, so. Yes you are also right that it didn´t broke out of that range yet and i should have wait. But i think thats a different strategy do catch the breakout of the asian session within the FO/LO session. If you wait here for a TDI cross over most likely where you "should" enter in such cases the 15-20 pips move you might want to catch on such lower time...
Iddd
You have already a fix trading plan. It is that TDI crossover check list. When TDI cross over use the checklist.
Try this:
- Use that TDI alert to send a notification.
Most of the time trades will be on bar 1 and the new trend will also be more or less confirmed.
- Tick the checkpoints on TDI cross.
- five or ten mins later check trade, in profit good, in loss close and wait for next alert.
Just go for 10 pips, Iddd
-----
edit: Alarm went off, use checklist, decide to place a trade or not.
> all three Vlines are in consolidation.
GBPJPY is hindsight. That spike down happen to fast
EURJPY is about to crossover. but also in consolidation.
So wait for New York to open.
Attached Image (click to enlarge)
Click to Enlarge Name: stillgood.PNG Size: 79 KB
  • #99,988
  • Jan 24, 2020 7:49am Jan 24, 2020 7:49am
Quoting Tekkies
{quote} Iddd You have already a fix trading plan. It is that TDI crossover check list. When TDI cross over use the checklist. Try this: - Use that TDI alert to send a notification. Most of the time trades will be on bar 1 and the new trend will also be more or less confirmed. - Tick the checkpoints on TDI cross. - five or ten mins later check trade, in profit good, in loss close and wait for next alert. Just go for 10 pips, Iddd ----- edit: Alarm went off, use checklist, decide to place a trade or not. > all three Vlines are in consolidation. GBPJPY...
Can you try to explain to me how do you make money on a currency pair for e.g not even moving 50 pips / day on average like EU is doing the last week? I would have to catch a top-bottom or bottom-top move (and the right TDI setup at the exact moment). Maybe for a 30 Pips where my SL is 10-20 Pips. I will most likely get stopped out right away in consolidation again or end up waiting hours (even on M15-M1) until my little average target for these 10-20 pips gets hit...Probably only if some big news announced during the european session. Thats what i see is driving the momentum, not the TDI crossing over...

I don´t know but it really looks impossible to me, to make money with day trading forex, even GA, GJ is nothing more than a 100-150 Pips on average due tue highest volatility times (which is rare too).

Even with knowing my trading plan (wait for a TDI entry), checking all the other rules. Enter. It doesn´t help me with these major issues of what/when to trade.

Thats why i asked a lot of times what markets you trade, what time of the day, how you manage that in a consistent way, beeing on time if the setup is there and especially the difference between average losing trades and average winning trades you maintain.

You would need to have a very very high win rate on anything below H1 because you cannot compensate your losses including spread with such small little moves. Or you would have to trigger tons of trades (which is not possible with just trading one currency pair that is almost never moving).

So what is the solution here in your opinion?
  • #99,989
  • Edited 9:10am Jan 24, 2020 8:54am | Edited 9:10am
Quoting lddd
{quote} Can you try to explain to me how do you make money on a currency pair for e.g not even moving 50 pips / day on average like EU is doing the last week? I would have to catch a top-bottom or bottom-top move (and the right TDI setup at the exact moment). Maybe for a 30 Pips where my SL is 10-20 Pips. I will most likely get stopped out right away in consolidation again or end up waiting hours (even on M15-M1) until my little average target for these 10-20 pips gets hit...Probably only if some big news announced during the european session. Thats...
Have posted:
Go for 10 pips. stay with 10 pips. Make sure that TDI angle is really above / below and what els that may go with that setup.
It is what you do with that 10 pips.
Do you increase the lot size after 1000 pips?
Last year, spend almost the whole year with DE30 M15H1 learning, learning, learning. This year M15 is removed and BigE pair's are loaded. Now you ask me what markets do I trade.
Last year you asked me what time of the day I trade.
How many chart's are posted that show that time frame as H1 with > No TDI crossover No trade.
You asked "being on time if the setup is there"
Have posted that BigE used a alarm to trade with:
#11........Four hours later (1:50am) my alarm goes off for the new candles and I take a peek... if I see a new set up I'll enter and go back to bed with the last alarm at 5:50am my time.


Same questions are asked that you have asked previously.
The answer's will stay the same Iddd because I made BigE advice mine own. Post 99,862

I can only show you what I do and it might not even be suitable for you.
Please Iddd find that mentor.
  • #99,990
  • Edited 9:44am Jan 24, 2020 9:19am | Edited 9:44am
A calculation:

Trading Plan

Trade only 1 Market (EUR/USD), ADR: 50 Pips
Pips Value: $10,00 (1 Lots)
Trading Times: European Market Session, 8:00 GMT – 16:00 GMT
Work hours: 8 Hours
Time Frame: M15/H1

Average Stop Loss: 10 Pips
Average Profit Target: 20 Pips
Risk/Reward: 1:2

The Setup

TDI gives signal.

Scenario 1)

You find 1 Trade per day and win!

Winrate: 100%

20 Pips (TP) x 1 (Trade per Trade) x 20 Trading Days = 400 Pips per Month (win) = $4.000,00
Spread: $600,00
Sum = $3.400,00 (You can pay some bills, hooray)

Scenario 2)

Winrate: 50%

20 Pips (TP) x 1 (Trade per Day) x 10 Trading Days = 200 Pips per Month (win) = $2.000,00
10 Pips (SL) x 1 (Trade per Day) x 10 Trading Days = 100 Pips per Month (loss) = -$1.000,00
Spread: $600,00

= $400,00 (at least still profitable)

Going under 50%, not reaching 1:2 risk/reward on average, not finding enough trades = You can´t pay the bills!

Having a losing period / drawdown = You can´t pay anything and hope to find enough trades to go back to break even at least (in case you find enough trade setups for that)

Did i miss anything?
  • #99,991
  • Jan 24, 2020 9:40am Jan 24, 2020 9:40am
Quoting Tekkies
lease Iddd find that mentor.
Is there a place like "Here you can hire a professional forex trader to mentor you". Where this person can also provide a transparent track record of consistent profitable results with his/her strategy/plans? Or would you blindly follow someone in the hope of X just to find out you wasted anouther X years of getting teached something by a semi professional never ever even had 1 consistent profitable year of trading results?
  • #99,992
  • Jan 24, 2020 9:44am Jan 24, 2020 9:44am
Quoting lddd
A calculation: Trading Plan Trade only 1 Market (EUR/USD), ADR: 50 Pips Pips Value: $10,00 (1 Lots) Trading Times: European Market Session, 8:00 GMT – 16:00 GMT Work hours: 8 Hours Time Frame: M15/H1 Average Stop Loss: 10 Pips Average Profit Target: 20 Pips Risk/Reward: 1:2 The Setup TDI gives signal. Scenario 1) You find 1 Trade per day and win! Winrate: 100% 20 Pips (TP) x 1 (Trade per Trade) x 20 Trading Days = 400 Pips per Month (win) = $4.000,00 Spread: $600,00 Sum = $3.400,00 (You can pay some bills, hooray) Scenario 2) Winrate: 50% 20 Pips...
Yes Iddd
Post#6.............Give yourself a chance and trade it like it's laid out...

Playing with numbers that could or should won't help you much.
Attached Image (click to enlarge)
Click to Enlarge Name: hwo.PNG Size: 35 KB


Quoting lddd
{quote} Is there a place like "Here you can hire a professional forex trader to mentor you". Where this person can also provide a transparent track record of consistent profitable results with his/her strategy/plans? Or would you blindly follow someone in the hope of X just to find out you wasted anouther X years of getting teached something by a semi professional never ever even had 1 consistent profitable year of trading results?
Yes Iddd
Emmanuel told you last year to go to Frankfurt. Am not sure I think he mentioned Hesse
Your broker is only a phone call or google email away.
Am sure they can help you with a simple: "Here you can hire a professional forex trader to mentor you"
  • #99,993
  • Jan 24, 2020 10:24am Jan 24, 2020 10:24am
Quoting Tekkies
{quote} Yes Iddd Post#6.............Give yourself a chance and trade it like it's laid out... Playing with numbers that could or should won't help you much. {image}
Thanks, will look at it. But i think your calculation is for growing an account slowly including compounding effect (which is fine).

I am looking for a strategy i can execute prefarable on just one market in a constant routine, so i will learn something without getting overhelmed while on the other hand getting enough setups to actually achieve something like a 2-3% per month on average.

With trading even 1 Lot EUR/USD like in my example it seems to me already hard to get extracted a 400 Pips in 20 days withoug risking too much. Even if I am watching M15/H1 every day for 8 hours, because simply its not moving, giving no opportunities...

You also have to think about that i don´t want to end up overtrading because every second trade not hitting the TP level so i will destroy my average RR and with it just everything else.
  • #99,994
  • Jan 24, 2020 10:58am Jan 24, 2020 10:58am
Quoting lddd
{quote} Thanks, will look at it. But i think your calculation is for growing an account slowly including compounding effect (which is fine). I am looking for a strategy i can execute prefarable on just one market in a constant routine, so i will learn something without getting overhelmed while on the other hand getting enough setups to actually achieve something like a 2-3% per month on average. With trading even 1 Lot EUR/USD like in my example it seems to me already hard to get extracted a 400 Pips in 20 days withoug risking too much. Even if...
You don't ask for much do you?
Just like you I also struggle with the same problems.
I don't have all the answer's Iddd.
All I do is watch (for now) 8 charts every hour and when a vline is plotted depending on post#647 place a trade.
The rest is........... well live with it.

Until Monday, Iddd cheers.
  • #99,995
  • Jan 24, 2020 11:34am Jan 24, 2020 11:34am
Quoting Tekkies
{quote} You don't ask for much do you? Just like you I also struggle with the same problems. I don't have all the answer's Iddd. All I do is watch (for now) 8 charts every hour and when a vline is plotted depending on post#647 place a trade. The rest is........... well live with it. Until Monday, Iddd cheers.
Thanks.

8 Charts, well you see. That’s my problem right now, I am trying to find just one chart that will be enough to monitor while still giving enough opportunities.

Appreciate your help. Will keep reading and learning.
  • #99,996
  • Jan 24, 2020 11:36am Jan 24, 2020 11:36am
Where is Emmanuel if you need him
  • #99,997
  • Jan 24, 2020 7:08pm Jan 24, 2020 7:08pm
Quoting lddd
Where is Emmanuel if you need him

I have been here since 2012 and still here whenever someone needs my help...

simply post and ask me anything.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #99,998
  • Jan 24, 2020 7:10pm Jan 24, 2020 7:10pm
Quoting moRTaL
{quote} emm.. and that is a BUEB.. i entered buy when london closed. EDIT: i mean tokyo closed EDIT2: -0.26R, 1st TP hit.. not bad... now plan B.. {image} EDIT3: net for plan a and b: -0.25R, exit.. imho, as it may be the start of H1 consolidation.. {image}

nice ....

when day trading,

always work when we have a Plan A and a Plan B , sometimes a Plan C help get more $$$$ into our bank.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #99,999
  • Jan 24, 2020 7:39pm Jan 24, 2020 7:39pm
Quoting lddd
A calculation: Trading Plan Trade only 1 Market (EUR/USD), ADR: 50 Pips Pips Value: $10,00 (1 Lots) Trading Times: European Market Session, 8:00 GMT – 16:00 GMT Work hours: 8 Hours Time Frame: M15/H1 Average Stop Loss: 10 Pips Average Profit Target: 20 Pips Risk/Reward: 1:2 The Setup TDI gives signal. Scenario 1) You find 1 Trade per day and win! Winrate: 100% 20 Pips (TP) x 1 (Trade per Trade) x 20 Trading Days = 400 Pips per Month (win) = $4.000,00 Spread: $600,00 Sum = $3.400,00 (You can pay some bills, hooray) Scenario 2) Winrate:...
just one comment for now,

you need to differentiate trade setup from trade signal.

your Trading Plan cannot do this in one year.

Attached Image (click to enlarge)
Click to Enlarge Name: EU M15 collatz flow 25-1-2020 9-35-38 am.png Size: 16 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #100,000
  • Jan 24, 2020 8:12pm Jan 24, 2020 8:12pm
Quoting eelfranz
Klops... (503) I'm not looking for 15 pips profit... more like 150 ! The money I put into my last trading account ($10,000) I don't even think about it. It's like the money you take to Las Vegas. You hope to win but don't often... Your taking money for entertainment and relaxation... So I don't give it a second thought... It's entertainment money as I said... Besides It always grows larger... I REMEMBER THE DAYS WRINGING OUT MY HANDS FOR MY $500 ACCOUNT... THE SKIES FALLING ! Help, help, help. If I enter a trade lets say and I'm monitoring the trade...
Trading Made Simple

the thread OP said this:

The money I put into my last trading account ($10,000) I don't even think about it. It's like the money you take to Las Vegas. You hope to win but don't often... Your taking money for entertainment and relaxation...

it is gambling!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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