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Trading Made Simple

  • #105,961
  • Jun 29, 2020 6:33pm Jun 29, 2020 6:33pm
Quoting emmanuel7788
GBPNZD Jun 29 H4 2AM PDT trade entry Follow Daily Price Action and the established trend/swing. Next trading task is manage the trade in case the price pulls back 15 to 20 pips otherwise wait till next H4 at 6AM PDT {image}

GBPNZD Jun 29 H4 trade update Jun 30

this trade went nowhere for hours so I kep it open for another day to this month-end.

The D1 PA looks okay and nothing nearby as support/demand except new buyers overcome the sellers today.


Attached Image (click to enlarge)
Click to Enlarge Name: GBPNZD Jun 29 trade update 30-6-2020 7-29-13 am.png Size: 48 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #105,962
  • Jun 29, 2020 6:50pm Jun 29, 2020 6:50pm
Emmanuel do you use the soft forex simulator for backtesting? I got it from a friend over the weekend and so far it's really good. Now I can properly test this system.
  • #105,963
  • Jun 29, 2020 7:11pm Jun 29, 2020 7:11pm
Quoting RamoBroGad
Emmanuel do you use the soft forex simulator for backtesting? I got it from a friend over the weekend and so far it's really good. Now I can properly test this system.
I had used Forex Tester 2.0 to do my own testing during system development.

Most trade simulators / testers like your soft forex simulator should be able to run test using a modified HeikenAshi and the Fozzy-RSI which work as well.
One of the tests which I did on H4 and D1 is to count the number of trade opportunities/setups in a calendar year over several years. The period must cover all varying market type conditions and for at least a 10 years period from 2005 onward would be good.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #105,964
  • Jun 29, 2020 7:25pm Jun 29, 2020 7:25pm
GBPUSD and EURNZD H4 trade Jun 29

Two more H4 trades I did yesterday but did not post in realtime.

GBPUSD H4 trade is a dynamic entry on H4 i.e. entry during the active H4 HA candle, before the H4 candle closes. See H1 for the REVERSAL candle during the 4H period. Same PA process follow the Daily Price Action, know where the Daily OHLC levels are and Follow Post#261 and Post#647 for TMS 5-Method entry. Target TP also follow the Daily previous price action PPA and OHLC.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD Jun 29 H4 trade closed 30-6-2020 7-14-27 am.png Size: 45 KB



EURNZD H4 trades, these trades are multiple entries with average entry price management.
Entry is the same, i.e. follow the Daily Price Action which shows sideways market type conditions... with the Daily Mother Bar/Inside Bar candles. H4 trading is the same, to make every trade decision by following Post#261 and Post#647. Multiple entries requires proper money management and risk management, allocation of money risk to trade in smaller lot sizes (Position Sizing) and to get a better average entry price.


Attached Image (click to enlarge)
Click to Enlarge Name: EURNZD Jun 29 H4 trade closed D WRB 30-6-2020 7-10-40 am.png Size: 47 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #105,965
  • Jun 29, 2020 11:38pm Jun 29, 2020 11:38pm
H4 10PM PDT

with 25 mins to the next H4 10PM PDT candle, you should by now taken a look at all your trading pairs and know which pairs has the potential for a H4 trade.

Attached Image (click to enlarge)
Click to Enlarge Name: TMS Monitor Jun 30 H4 pre-10PM PDT 30-6-2020 12-32-19 pm.png Size: 22 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #105,966
  • Jun 30, 2020 12:31am Jun 30, 2020 12:31am
EURAUD Jun 30 H4 10PM PDT

sell entry
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD Jun 30 H4 10PM PDT 30-6-2020 1-03-10 pm.png Size: 40 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #105,967
  • Jun 30, 2020 1:40am Jun 30, 2020 1:40am
if any of you guys reading this have an mt5 volume bar indicator that paints the candlestick color, please can you send it
  • #105,968
  • Jun 30, 2020 8:28am Jun 30, 2020 8:28am
Quoting emmanuel7788
LO H1 is 42 minutes and will it provide a 'step' entry or should I wait for the H4 2AM PDT?
Hi Emmanuel, do you have a definition for "step entry"?
  • #105,969
  • Jun 30, 2020 1:31pm Jun 30, 2020 1:31pm
https://www.forexfactory.com/showthr...1#post13034891
  • #105,970
  • Jun 30, 2020 2:01pm Jun 30, 2020 2:01pm
Quoting Mistiko
https://www.forexfactory.com/showthr...1#post13034891
No, no one uses that EA here. The thread starter here said he was against EAs and does not want them mentioned in this thread.
To free Gazans of Hamas, use whatever it takes.
  • #105,971
  • Jun 30, 2020 2:17pm Jun 30, 2020 2:17pm
I have been absent for nearly 3 years from posting in this threat.... in the meantime I have developed my own trading style based on what I have learnt from posts, esp. of BigE, Emmanuel, Phx62, likica and TheScorpS/TSS. Thank you all! To develop my own rules, which fit to my personality and to my day-to-day job, and to strictly stick to them has been the hardest part.

Below my trades of the last days. There is one negative trade, which I wanted to show you, because I did not follow my own trading rules (opened a trade outside LO, NYO).
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUDH1.png Size: 72 KB
Best regards, blackfriday
  • #105,972
  • Jun 30, 2020 2:55pm Jun 30, 2020 2:55pm
Quoting Mistiko
https://www.forexfactory.com/showthr...1#post13034891

Thanks for the link.
  • #105,973
  • Jun 30, 2020 7:04pm Jun 30, 2020 7:04pm
Quoting nigpig
{quote} Hi Emmanuel, do you have a definition for "step entry"?
Hi nigpig

When trading H4 using the TDI from Post#25, we can use the Dynamic entry i.e. to make a trade entry during the H4 candle when it is still active and not wait till that H4 candle closes. *Note that the TDI#25 shows the momentum of the previous H4 closed and has not painted the current active H4 candle.

To use dynamic entry, we look for a setup in either H1 and make the trade entry. In that EU H1 example, that LO H1 opening has not closed. If that H1 would have closed an Inside Bar it is also the 3rd H1 of the H4 period, then that H1 Inside Bar would be the 'step entry' during that 10PM H4 candle.

You can also adopt the 'step entry' when swing trading the Daily/Weekly charts and you have more options in the lower timeframes H1, M15 and even M5 which I use since 2018.
The trade window when trading the Daily is a full 24 hours period and this will suit the lifestyle of most part-time traders.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #105,974
  • Jun 30, 2020 7:05pm Jun 30, 2020 7:05pm
Quoting blackfriday
I have been absent for nearly 3 years from posting in this threat.... in the meantime I have developed my own trading style based on what I have learnt from posts, esp. of BigE, Emmanuel, Phx62, likica and TheScorpS/TSS. Thank you all! To develop my own rules, which fit to my personality and to my day-to-day job, and to strictly stick to them has been the hardest part. Below my trades of the last days. There is one negative trade, which I wanted to show you, because I did not follow my own trading rules (opened a trade outside LO, NYO). {image}

welcome back!

Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #105,975
  • Jun 30, 2020 7:15pm Jun 30, 2020 7:15pm
Quoting Mistiko
https://www.forexfactory.com/showthr...1#post13034891

that TMS Dashboard is a nice tool developed for rule-based discretionary manual trading.

very nice trading tools by arbinka the same member who developed the TMS Monitor.

many trading tools such as trade managers, dashboards, etc. are based on MT4 expert advisors functionalities. Trading tools are not the same as the common known auto-trading robots which are also EAs.

what did the OP say about EA trading robots?

see Post#79,187 April 24, 2017.
https://www.forexfactory.com/showthr...33#post9786033
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #105,976
  • Jun 30, 2020 7:23pm Jun 30, 2020 7:23pm
Quoting emmanuel7788
EURAUD Jun 30 H4 10PM PDT sell entry {image}

EURAUD Jun 30 H4 trade closed.

- closed this trade just before the next 6AM PDT candle.
- loss -58 pips.

Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD Jun 30 H4 trade closed loss 1-7-2020 8-17-05 am.png Size: 43 KB


Today is a new trading day, new Month so I have to update my Monthly Big Picture and update my trade plan for this Week.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #105,977
  • Jun 30, 2020 7:29pm Jun 30, 2020 7:29pm
Quoting emmanuel7788
{quote} GBPNZD Jun 29 H4 trade update Jun 30 this trade went nowhere for hours so I kep it open for another day to this month-end. The D1 PA looks okay and nothing nearby as support/demand except new buyers overcome the sellers today. {image}

GBPNZD Jun 30 H4 trade closed

- closed this H4 trade just before the next H4 10AM PDT candle
- loss -35 pips

Attached Image (click to enlarge)
Click to Enlarge Name: GBPNZD Jun 30 H4 trade closed loss.png Size: 49 KB


Will keep stalking the GBP crosses - GBPAUD, GBPNZD and GBPCAD in July and see if there would be that big ONE to catch.

Also keep my eyes and ears open - AUDCAD, AUDNZD and NZDCAD ... pairs.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #105,978
  • Jun 30, 2020 7:39pm Jun 30, 2020 7:39pm
GBPJPY Jul 01 M15

an early bird trade to kick off the new trading Month July 2020

will Yen be cheap the rest of this week? we shall see...

Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPY Jul 01 M15 SYD 1-7-2020 8-35-53 am.png Size: 31 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #105,979
  • Jun 30, 2020 8:26pm Jun 30, 2020 8:26pm
USDJPY Jul 01 M15 TOK

a 5-bars swing high reversal setup @108.

nice momentum shown by both the Stoch %K cross %D and TDI RSI green price line

Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY Jul 01 M15 TOK 1-7-2020 9-21-20 am.png Size: 28 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #105,980
  • Jul 1, 2020 12:10am Jul 1, 2020 12:10am
USDJPY Jul 01 H4 10PM PDT

Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY Jul 01 H4 sell 10PM PDT 1-7-2020 1-08-25 pm.png Size: 41 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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