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Trading Made Simple(r)

  • #4,581
  • Jan 24, 2020 2:40am Jan 24, 2020 2:40am
Quoting FXShoujo
Hello, I am new here. This is my first trade with this method. I hope I get it right. {image}
Good Morning,
I wouldn’t pick the trade. Three big candles. And they could not break support 3-times in row. Besides the indicators, it would not be logical to go further down.
  • #4,582
  • Jan 24, 2020 6:56am Jan 24, 2020 6:56am
Quoting tbu84
{quote} Good Morning, I wouldn’t pick the trade. Three big candles. And they could not break support 3-times in row. Besides the indicators, it would not be logical to go further down.
Okay, I will avoid big candles next time. Thank you for the feedback.
I will do my best!
  • #4,583
  • Jan 24, 2020 8:22am Jan 24, 2020 8:22am
Quoting moRTaL
this is a NC D1 TMSr long with stochs in unison... MN is up with HH HC, W1 is down in WCC around low area but market type is sideways, D1 is up with a HH HC and a close above the 12 days D1 consolidation (depending on how you draw the consolidation upper and lower limit, as there may be a bigger consolidation to the left totalling 15 days that has NOT been broken yet).. D1 also has broken last week high, but has not close above it yet, let see this friday close.. also above PA is MN open (dim gray line)... anyway the second TP may not be hit (may...
How is that going? The setup looks ok in my opinion.

I am also testing this method since 1st of Jan.
  • #4,584
  • Edited 9:46am Jan 24, 2020 9:03am | Edited 9:46am
Quoting Vanillaz
{quote} How is that going? The setup looks ok in my opinion. I am also testing this method since 1st of Jan.
Hi, i'm still in the trade.. this trade is with the dominant trend, imho, as a newbie in price action, i feel safer with the trend, i don't monitor it with the lower TF... haha.. i just let it run...

at the moment, it is H4 consolidation since the start of Friday.. rather concerned to see the many pin bars... but i'm not trading this with H4 so i just ignore it completely..

EDIT: i just realise that PA is actually consolidating between BRN 0.86 and 0.87... and if that is the case then, the break that i mentioned is invalid and price has been consolidating between it for 15 days... todays's current high is also 0.87001.. hahaha... maybe the breakout candle isn't large enough to be really clear that it is a 'true' breakout candle..
  • #4,585
  • Jan 26, 2020 5:15am Jan 26, 2020 5:15am
CAN SOMEONE PLEASE UPDATE https://www.forexfactory.com/attachm...2&d=1234943628

PERFECT KELLY SETUP
  • #4,586
  • Jan 28, 2020 12:26am Jan 28, 2020 12:26am
Quoting herrera77
CAN SOMEONE PLEASE UPDATE https://www.forexfactory.com/attachm...2&d=1234943628 PERFECT KELLY SETUP
Hi Herrera77 could you kindly shed some light on this setup and how it works? Also how can we use it to improve the way we trade RH's system.
"You can't buy the bottom, nor sell the top. The best you can strive for is
  • #4,587
  • Jan 28, 2020 8:01am Jan 28, 2020 8:01am
EA sell
Attached Image (click to enlarge)
Click to Enlarge Name: euraud-h1-octafx-uk-limited.png Size: 66 KB
I will do my best!
  • #4,588
  • Jan 28, 2020 8:13am Jan 28, 2020 8:13am
Quoting FXShoujo
EA sell {image}
Looks like the RSI is still above 50. Need to wait.
  • #4,589
  • Jan 28, 2020 4:48pm Jan 28, 2020 4:48pm
Quoting 40PipsAlan
{quote} Looks like the RSI is still above 50. Need to wait.
Then how about this one? I entered at the red vertical line
Attached Image (click to enlarge)
Click to Enlarge Name: nzdusd-h1-octafx-uk-limited-2.png Size: 67 KB
I will do my best!
  • #4,590
  • Jan 28, 2020 7:38pm Jan 28, 2020 7:38pm
Quoting FXShoujo
{quote} Then how about this one? I entered at the red vertical line {image}
I would stop trading the 1 HR TF and focus on the 4 HR, but better yet the Daily. There is less chop. Also, look for setups where the Stochastic lines are very close, I mean VERY close and moving in the same direction. Look at your EA chart from the 24th.
Attached Image
Without vision, the people will perish.
  • #4,591
  • Jan 29, 2020 12:56am Jan 29, 2020 12:56am
Quoting bythepound
{quote} I would stop trading the 1 HR TF and focus on the 4 HR, but better yet the Daily. There is less chop. Also, look for setups where the Stochastic lines are very close, I mean VERY close and moving in the same direction. Look at your EA chart from the 24th. {image}
just my 2 cents,if u r trading D chart ,i want to share the fact that after every3-5 same candle color,opposite color candles appear as a retracement.
  • #4,592
  • Jan 29, 2020 2:02am Jan 29, 2020 2:02am
Also Emm says the stoch and RSI cross needs to happen over 2-3 candles. Any more and it gets more risky.
  • #4,593
  • Jan 29, 2020 5:42am Jan 29, 2020 5:42am
Quoting bythepound
{quote} I would stop trading the 1 HR TF and focus on the 4 HR, but better yet the Daily. There is less chop. Also, look for setups where the Stochastic lines are very close, I mean VERY close and moving in the same direction. Look at your EA chart from the 24th. {image}
Okay, I will stop trading 1HR
I will do my best!
  • #4,594
  • Jan 29, 2020 5:42am Jan 29, 2020 5:42am
Continuation trade
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd-h4-octafx-uk-limited.png Size: 63 KB
I will do my best!
  • #4,595
  • Edited 10:30am Jan 29, 2020 8:47am | Edited 10:30am
Traders,

One of the most useful tools that I stumbled across last week is called the IG Client Sentiment Report. It is released twice a day as a free service from DailyFX. It really turned my trading around in the last week. I used the report to help rack up pips in the AUD/JPY and EUR/USD, and USD/CAD.

See link below:

https://www.dailyfx.com/sentiment-report

This report shows the trade bias of retail traders like us and how the big banks tend to take price the opposite direction. While this is not always true, and the fact the prices can be suddenly impacted by news or other events, in general this report seems to be fairly reliable for currencies.

There are a lot of videos on YouTube about it – search IG Client Sentiment Report.

BUT, I would watch this video first; very enlightening in regards to the BIG BANKS:

Inserted Video


Enjoy.
Without vision, the people will perish.
  • #4,596
  • Jan 29, 2020 8:19pm Jan 29, 2020 8:19pm
Today's NZD/CAD trade on the daily TF - entered at the vertical yellow line (a little late). I use the TDI as an exit indicator only.
Attached Image (click to enlarge)
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Without vision, the people will perish.
  • #4,597
  • Edited 5:53pm Jan 30, 2020 5:40pm | Edited 5:53pm
Quoting moRTaL
{quote} EDIT: i just realise that PA is actually consolidating between BRN 0.86 and 0.87... and if that is the case then, the break that i mentioned is invalid and price has been consolidating between it for 15 days... todays's current high is also 0.87001.. hahaha... maybe the breakout candle isn't large enough to be really clear that it is a 'true' breakout candle..
NC at last a clear break down from D1 consolidation.. haha.. first half position was entered yesterday from a break down of H1 consolidation with H1 TMSr short stoch is converging then next hour is in unison (sometimes i feel that TMSr is really late in terms of entry as the previous bar before entry was a BEOB in a downtrend after retracement, sometimes it is because of HA... but anyway nothing is perfect..), 2nd half position is D1 TMSr short stoch in unison but 4th candle, but a clear break from 2-3 weeks D1 consolidation, also a BEEB.. not bad..

Attached Image (click to enlarge)
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this is the first half position - H1

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2nd half position - D1
  • #4,598
  • Jan 31, 2020 6:03am Jan 31, 2020 6:03am
audjpy continuation trade:

Attached Image (click to enlarge)
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  • #4,599
  • Jan 31, 2020 8:38am Jan 31, 2020 8:38am
Quoting elbada
audjpy continuation trade: {image}
hi, imho, just be careful of today which is end of month and last day of the week.. read somewhere before emm mentioned that MN candle rarely closes as maribozu candle.. and that (maybe i think to much...haha) ADR is already 100%

anyway nice choice as price bounce in H4 and then breaks and then retest the area around your SL line (see to the left in D1) which afterward appears the TMSr short continuation... and best there is space below about 100pips.. and the W1 structure is downward...

a full time trader by the name of divergence that emm mentioned before, scribbled emm's chart at one time and he mentioned that the best entry is actually that around that retest area...

anyway good luck
Attached Image (click to enlarge)
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  • #4,600
  • Jan 31, 2020 9:47am Jan 31, 2020 9:47am
Quoting moRTaL
{quote}... anyway good luck {image}

Thank you! I am making my first trades with this system. Let's see if I get confidence.
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