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Trading Made Simple

  • #105,981
  • Jul 1, 2020 8:05am Jul 1, 2020 8:05am
Quoting emmanuel7788
USDJPY Jul 01 H4 10PM PDT {image}

USDJPY Jul 01 H4 trade update 6AM PDT

nice 2 HA candles moved down. now is the time 6AM PDT to close the trade and walk away.

Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY Jul 01 H4 6AM trade update 1-7-2020 9-02-44 pm.png Size: 42 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #105,982
  • Jul 1, 2020 11:06am Jul 1, 2020 11:06am
Hi all, hope ya doing fine.

Question, is it normal all the candle time countdown indicators I am trying somehow lags times on my MT4 platform?

Does anyone knows of a non lagging one counting down second by second like a Swiss clock?
  • #105,983
  • Jul 1, 2020 11:21am Jul 1, 2020 11:21am
CAD.JPY on 1H TF.
Got scared on the hook (green X) and went out. Still unsecure on the exits
Tips? Comments?
Attached Image (click to enlarge)
Click to Enlarge Name: Captura de pantalla 2020-07-01 a la(s) 12.18.30.png Size: 54 KB
  • #105,984
  • Jul 1, 2020 12:02pm Jul 1, 2020 12:02pm
Quoting lddd
Hi all, hope ya doing fine. Question, is it normal all the candle time countdown indicators I am trying somehow lags times on my MT4 platform? Does anyone knows of a non lagging one counting down second by second like a Swiss clock?
I am making an assumption that when you refer to the timer "lagging" that you mean the timer does not "tick" at a set interval, but appears to "tick" at random intervals.

This is typical behavior for most platforms. It is because the time is "ticking" only when a tick is received. This is especially noticeable in the off-market hours where several clock seconds can pass but the counter has not moved. I addition, if ticks come in at a rate that is too high for your specific system to register them all, then some of the ticks are simply lost. This can be seen when historical tick datasets are compared.

I do not remember seeing a countdown timer that "ticks" at a set interval, but probably at least one exists. Note that this would likely be resource intensive because it requires either "forcing" the system into thinking that a tick is received, or else combining an actual timer in junction with the built-in tick processing.
To free Gazans of Hamas, use whatever it takes.
  • #105,985
  • Jul 1, 2020 12:05pm Jul 1, 2020 12:05pm
Quoting Emilito
CAD.JPY on 1H TF. Got scared on the hook (green X) and went out. Still unsecure on the exits Tips? Comments? {image}
The "green hook" is a totally valid conservative exit. Feel at ease using it. You can always try a continuation entry if green turns back, as it did in your example.
To free Gazans of Hamas, use whatever it takes.
  • #105,986
  • Jul 1, 2020 5:36pm Jul 1, 2020 5:36pm
Quoting Emilito
CAD.JPY on 1H TF. Got scared on the hook (green X) and went out. Still unsecure on the exits Tips? Comments? {image}
comments:

- that sell trade was counter-trend against the previous day rally. You need to consider the trade risk when taking such trades. If you had taken that trade based on both the Stoch and RSI being in over-bought levels, was there recent price action resistance? if there is 'resistance' then it was a right trade decision, but many of such trades do fail.

- your sell entry was aggressive when that entry HA candle was still active and not closed to confirm the REVERSAL candle setup.

- your exit was not because of the TDI RSI green price line hook. That green line hook only after that blue HA candle closed. (TDI#25)

- other option to consider for trade exit is to use CandleStickTrailingStop CSTSL(cnd-1). The trade exit would have been at the same price level where your manual exit was.

- when trading, there is no time to be fearful and scared. You have your trade plan and when things go wrong, you have your stop loss as your exit.

DISCIPLINE is to have a trade plan and then to follow every trading tasks you have written in your trade plan. In your trade plan you know when to get out when you made your 'get in' the market. This is simple, right? and you just need to develop your mental strategy to manage this.


Attached Image (click to enlarge)
Click to Enlarge Name: Emilito CADJPY H1 trade comments 2-7-2020 6-15-30 am.png Size: 136 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #105,987
  • Jul 1, 2020 5:39pm Jul 1, 2020 5:39pm
Quoting lddd
Hi all, hope ya doing fine. Question, is it normal all the candle time countdown indicators I am trying somehow lags times on my MT4 platform? Does anyone knows of a non lagging one counting down second by second like a Swiss clock?
use the platform Market Watch clock as your timer when you realise the custom clock indicators are lagging.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #105,988
  • Jul 2, 2020 12:25am Jul 2, 2020 12:25am
Hi,

How about this entry?
Thank you.
Attached Image
  • #105,989
  • Jul 2, 2020 12:33am Jul 2, 2020 12:33am
Quoting DrDave
{quote} I am making an assumption that when you refer to the timer "lagging" that you mean the timer does not "tick" at a set interval, but appears to "tick" at random intervals. This is typical behavior for most platforms. It is because the time is "ticking" only when a tick is received. This is especially noticeable in the off-market hours where several clock seconds can pass but the counter has not moved. I addition, if ticks come in at a rate that is too high for your specific system to register them all, then some of the ticks are simply lost....
MT4 Market Watch does the same.
- No tick = No time
  • #105,990
  • Jul 2, 2020 12:48am Jul 2, 2020 12:48am
Quoting Emilito
CAD.JPY on 1H TF. Got scared on the hook (green X) and went out. Still unsecure on the exits Tips? Comments? {image}
Applying post#647 to your trade by looking at TDI and left of chart.
- TDI green angle below 5
- Stoch confirm direction
- Placed trade at the begining of the bar the crossover did occured and not on bar 2, 3
- Below resistance level. (If you consider way price did turn at that level)
- Bar are going from big to small
- Wick's are mostly top of bar's indicating that sellers are trying to push price down.
- Against the long term trend.
Is short term trend the start of a new trend direction?
-----
Could have re-entered on green bounce red.
-----
Nothing wrong with that trade.
  • #105,991
  • Jul 2, 2020 12:58am Jul 2, 2020 12:58am
Quoting KennethYang
Hi, How about this entry? Thank you. {image}
Why did you enter on candle 4 after the TDI crossover?
You took a big risk placing a trade that many bar's late.
Post#6
Entries and exits...
We Enter a trade when green crosses red on the TDI at the beginning of that candle...
If it's candle 3 or more don't enter... find another trade set up.
  • #105,992
  • Jul 2, 2020 1:11am Jul 2, 2020 1:11am
I waited for PAC..
Oops.. My mistake!
Thank you!!

Quoting Tekkies
{quote} Why did you enter on candle 4 after the TDI crossover? You took a big risk placing a trade that many bar's late. Post#6 Entries and exits... We Enter a trade when green crosses red on the TDI at the beginning of that candle... If it's candle 3 or more don't enter... find another trade set up.
  • #105,993
  • Jul 2, 2020 1:16am Jul 2, 2020 1:16am
Quoting KennethYang
Hi, How about this entry? Thank you. {image}
in my opinion the down trend in coming back. In week chart and day chart we have a down trend.
  • #105,994
  • Jul 2, 2020 2:10am Jul 2, 2020 2:10am
Quoting xronald96
{quote} in my opinion the down trend in coming back. In week chart and day chart we have a down trend.
I agree that USDCAD is likely going into a down move on larger TFs. However, W1 at the moment is clearly in an upswing that is likely an up continuation, not in a downtrend.

D1 is probably now on a RALLY to the swing down that started last week. We have to see how high price goes before it turns back down to determine if it is indeed in a downtrend or is making another continuation of its uptrend. If the upswing does end as a rally, then the down continuation will likely be the end of the W1 upswing.

H4 clearly shows the D1 rally underway.
To free Gazans of Hamas, use whatever it takes.
  • #105,995
  • Jul 2, 2020 2:24am Jul 2, 2020 2:24am
Thank you for your kind advice.
I also agree the downtrend on larger TFs.
But, I thought that the price could touch TP1(20 pips) because the price crossed PAC. (and Bollinger 21 line)

Thank you!


Quoting DrDave
{quote} I agree that USDCAD is likely going into a down move on larger TFs. However, W1 at the moment is clearly in an upswing that is likely an up continuation, not in a downtrend. D1 is probably now on a RALLY to the swing down that started last week. We have to see how high price goes before it turns back down to determine if it is indeed in a downtrend or is making another continuation of its uptrend. If the upswing does end as a rally, then the down continuation will likely be the end of the W1 upswing. H4 clearly shows the D1 rally underway....
  • #105,996
  • Jul 2, 2020 2:53am Jul 2, 2020 2:53am
Quoting KennethYang
Thank you for your kind advice. I also agree the downtrend on larger TFs. But, I thought that the price could touch TP1(20 pips) because the price crossed PAC. (and Bollinger 21 line) Thank you! {quote}
That is a rather naive view.

Also, look at the regular price bars, not the HA bars. Count the number of red bars in a row before a blue bar. Also count how many blue bars in a row before a red bar. Make a simple histogram plot like below, and then see how many consecutive bars of the same color are likely to occur before the next one is the other color. Include 500-1000 consecutive bars in your study.
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 3.6 MB
To free Gazans of Hamas, use whatever it takes.
  • #105,997
  • Jul 2, 2020 3:08am Jul 2, 2020 3:08am
Quoting KennethYang
Hi, How about this entry? Thank you. {image}

the REVERSAL candle setup with Stoch cross signal and RSI green price line re-entering its VB was 3 candles ago.

when the RSI green price line re-enters its VB ... beware of sideways market type conditions

but you entry was a nice price action breakout of the Mother Bar/Inside Bar.

nothing wrong to enter after APB/HA candle 3, 4 and 5.... so long you use %Risk and do your trade Positions Size, know where to place your initial SL that is your risk R.

According to the OP, one piece of the TMS 5-Method big puzzle is #351... it is okay to enter on candle #3
see Post#351
https://www.forexfactory.com/showthr...91#post4577091

there must be price action and there must be price momentum in the setup and entry.
there is also mehdi343 Method#2 for entry when Stoch and RSi at 50-levels.
Attached Image (click to enlarge)
Click to Enlarge Name: KennethYang USDCAD H4 trade 2-7-2020 3-51-52 pm.png Size: 164 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #105,998
  • Jul 2, 2020 3:19am Jul 2, 2020 3:19am
Quoting xronald96
{quote} in my opinion the down trend in coming back. In week chart and day chart we have a down trend.

Weekly is sideways market type conditions.

I use strat WCC for my week top down analysis.
Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD Weekly WCC WRB Jul 02 2-7-2020 4-17-38 pm.png Size: 13 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #105,999
  • Jul 2, 2020 3:23am Jul 2, 2020 3:23am
Quoting Tekkies
{quote} MT4 Market Watch does the same. - No tick = No time

but the Market Watch clock is the broker server clock and it shows realtime clock and not based on price ticks.

lddd was talking about those MT4 custom indicators which shows the candle remaining time and that is based on price tick of the price chart.

Attached Image
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #106,000
  • Jul 2, 2020 3:35am Jul 2, 2020 3:35am
Quoting emmanuel7788
{quote} the REVERSAL candle setup with Stoch cross signal and RSI green price line re-entering its VB was 3 candles ago. when the RSI green price line re-enters its VB ... beware of sideways market type conditions but you entry was a nice price action breakout of the Mother Bar/Inside Bar. nothing wrong to enter after APB/HA candle 3, 4 and 5.... so long you use %Risk and do your trade Positions Size, know where to place your initial SL that is your risk R. According to the OP, one piece of the TMS 5-Method big puzzle is #351... it is okay to enter...
Thank you very much~!!
But USD/CAD is going down..

4H is pretty difficult..
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