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Trading Made Simple

  • #106,941
  • Jul 28, 2020 7:27am Jul 28, 2020 7:27am
Quoting rikiros
{quote} Hit SL
Did you look at some other TFs to see what is happening on them before you entered that sell? MN1 is going up and although W1/D1 overdue to fall, you still need to check where the down swings are happening and then get confirmation on smaller TFs about the potential direction change.
To free Gazans of Hamas, use whatever it takes.
  • #106,942
  • Jul 28, 2020 7:36am Jul 28, 2020 7:36am
Quoting DrDave
{quote} Did you look at some other TFs to see what is happening on them before you entered that sell? MN1 is going up and although W1/D1 overdue to fall, you still need to check where the down swings are happening and then get confirmation on smaller TFs about the potential direction change.
You are right!
I usually trade H1 at NY session for scalping 10-15 pip
I rarely trade H4, next time I will check larger D1/W1 before taking a trade on H4.
Thank you for showing me my mistake.
  • #106,943
  • Jul 28, 2020 7:50am Jul 28, 2020 7:50am
Quoting rikiros
{quote} You are right! I usually trade H1 at NY session for scalping 10-15 pip I rarely trade H4, next time I will check larger D1/W1 before taking a trade on H4. Thank you for showing me my mistake.
I was not trying to point out any mistakes. I simply gave some information for you to consider that PERHAPS you had not considered when you entered.

If you made an entry according to your trading plan, then it is not a mistake! However, this gives you an opportunity to document the conditions where the entry resulted in a loss and then when you review your collection of losing trades, you can see if the losing trades have commonly occuring conditions that may be turned into a filter in your trading plan.

Also, maybe you overlooked that I also said look to SMALLER TF's for confirmations??
To free Gazans of Hamas, use whatever it takes.
  • #106,944
  • Jul 28, 2020 8:00am Jul 28, 2020 8:00am
Quoting DrDave
{quote} I was not trying to point out any mistakes. I simply gave some information for you to consider that PERHAPS you had not considered when you entered. If you made an entry according to your trading plan, then it is not a mistake! However, this gives you an opportunity to document the conditions where the entry resulted in a loss and then when you review your collection of losing trades, you can see if the losing trades have commonly occuring conditions that may be turned into a filter in your trading plan. Also, maybe you overlooked that I...
DrDave,
I'm a newbie in forex and I know I have to learn many thing, so that would be great if someone point out where I was wrong when I had a bad trade
  • #106,945
  • Jul 28, 2020 8:02am Jul 28, 2020 8:02am
Quoting rikiros
{quote} You are right! I usually trade H1 at NY session for scalping 10-15 pip I rarely trade H4, next time I will check larger D1/W1 before taking a trade on H4. Thank you for showing me my mistake.
You should check the GBPUSD H1 now (if you have time) to see if it continues up to a new high or makes a LH. I am biased for the latter.
To free Gazans of Hamas, use whatever it takes.
  • #106,946
  • Jul 28, 2020 8:17am Jul 28, 2020 8:17am
Quoting rikiros
{quote} DrDave, I'm a newbie in forex and I know I have to learn many thing, so that would be great if someone point out where I was wrong when I had a bad trade
LOL. You just opened the floodgates for a load of conflicting opinions about "right" and "wrong".

Just look at the back-and-forth between ivan and FakeTrader. Ivan points out clear facts but FakeTrader dodges around-and-around, as usual. So you get to choose who is "right".

Actually, I like ivan's use of "you make words that twist like politician" for FakeTrader's word games. LOL
To free Gazans of Hamas, use whatever it takes.
  • #106,947
  • Jul 28, 2020 8:33am Jul 28, 2020 8:33am
Quoting rikiros
{quote} DrDave, I'm a newbie in forex and I know I have to learn many thing, so that would be great if someone point out where I was wrong when I had a bad trade
Then as a newbie, before you get too deep, you need to determine how much capital that you can put into a LIVE trading account that you are willing to LOSE. In addition, if you intend to focus on a particular time frame, be sure to check to see how big the drawdown tends to run for the system you have chosen (or are evaluating), then double that, and then decide if your account can survive 2 of those drawdowns as total losses in a row.

If you are like most of the newbies that I have encountered, you have a maximum of $1000 to fund an account, so trading above H1 for most pairs is not feasible, even with lot size of 0.01.

And do not expect some huge monthly % gains! I have a passive investment that returned a whopping 1.6% for 2019. And after management fees, a chunk of that was gone. My conservative trading account returned 62% (based on the initial amount deposited, to make it apples-to-apples with the passive investment return.) If I can make 10x the rate that the passive investment gives, I am satisfied.
To free Gazans of Hamas, use whatever it takes.
  • #106,948
  • Jul 28, 2020 9:32am Jul 28, 2020 9:32am
Quoting ivan9578
{quote} Why so much talk talk about HA by all? Many many indi make from price, yes? So, HA make from price, yes? So, like MA SMOOTH price, HA also smooth price! And more info. Study say HA at swing tell same story as japenese candlestick patterns from 2 bars. So man no must learn many japanese candle patterns, just watch HA and come same result.
Hello.
Someone that can talk / type with authority like you have done Ivan is great.
As to my post, gave the reasons why I removed it.
----
"Man must understand what indi do to use indi wise way!"
Wise words.
----
"So man no must learn many japanese candle patterns"
Have learned only one: double top/bottom. (Too many others to remember)
---
"just watch HA and come same result"
Let's agree to disagree and leave it at that.
  • #106,949
  • Jul 28, 2020 9:50am Jul 28, 2020 9:50am
Quoting ivan9578
{quote} These words all words by politician that add and twist bige words! I say other post if not bige way must go make other thread to make talk of other ways. So i say same words again. Go other thread and make all talk of other way on there. Talk here on bige way bige words only please!
Ivan, wait till you read that:
- TDI confirm Stoch.
- First PA then TDI.
- Remove TDI and Stoch from chart and keep only HA and 5EMA.
- Use BigE words from other thread/method to twist BigE's words in this thread.
  • #106,950
  • Jul 28, 2020 11:09am Jul 28, 2020 11:09am
Quoting DrDave
{quote} OOPS! FakeTrader wrong AGAIN! No surprise there! Hey hey FakeTrader!! What happened to you? No reports of you jumping on ivan with another one of your toxic posts for calling out your MISTAKE! Oh maybe you are giving him a break because he is new here?
Be fair Dave.
When Tekkies post it is stupid. When other member's post the same, (different words, same meaning) those post are ignored.
  • #106,951
  • Jul 28, 2020 11:16am Jul 28, 2020 11:16am
Quoting rikiros
{quote} You are right! I usually trade H1 at NY session for scalping 10-15 pip I rarely trade H4, next time I will check larger D1/W1 before taking a trade on H4. Thank you for showing me my mistake.
There is no mistake in trading.
Change how you see your "mistakes" into stepping stone's (learning) to become a better trader.
Find the reason for the "mistake" and change or fine tune your rules to avoid similer trading actions that lead to that loss

Read BigE Post#786 in full
My attitude is "I'm gonna win every trade I enter". I'm confident. Now and then I get my butt kicked but so what... I learn from it and move on. I see it like stepping into a gopher hole... I didn't see it... I get up and get going...............
  • #106,952
  • Jul 28, 2020 2:07pm Jul 28, 2020 2:07pm
Quoting rikiros
{quote} Hit SL
well, we learn from losing trades too.
that was H4 10PM PDT according the Post#1.
lesson learned, that H4 setup was 'counter-trend' to the recent bullish move.
that H4 move about 19 pips and pulled back and reversed. would have been difficult to cut-loss based on this pullback.... unless

anyway,
we learned from the OP' Post#495:

I choose my trades carefully making sure they meet the entry rules spot on... and pass on the iffy ones and go hunt other charts.


Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD H4 POMO 10PM PDT candle 29-7-2020 3-00-48 am.png Size: 41 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #106,953
  • Jul 28, 2020 2:18pm Jul 28, 2020 2:18pm
Quoting Tekkies
{quote} There is no mistake in trading. Change how you see your "mistakes" into stepping stone's (learning) to become a better trader. Find the reason for the "mistake" and change or fine tune your rules to avoid similer trading actions that lead to that loss Read BigE Post#786 in full My attitude is "I'm gonna win every trade I enter". I'm confident. Now and then I get my butt kicked but so what... I learn from it and move on. I see it like stepping into a gopher hole... I didn't see it... I get up and get going...............


#786 is by fugly and copied from the old thread #4030
Attached Image (click to enlarge)
Click to Enlarge Name: fugly Post#785 29-7-2020 3-09-10 am.png Size: 199 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #106,954
  • Jul 28, 2020 2:24pm Jul 28, 2020 2:24pm
Quoting ivan9578
{quote} I think maybe you not see good or make more politician talk! Look pic belwo. Clear for all man that ha open midpoint of prior bar. I say these true words before! ha candle open midpoint of prior bar! ALWAYS! This is caluclate way not other way can be!!! {image}

Correction done!

<>
The Heiken Ashi candles are calculated as the the average price of the real price OHLC using a formula. The HA candle {Edited}is dynamic until the Price Bar closes just like the real price bar CLOSE moves during the bar/candle time. This means the real price bar can change bullish and bearish until the bar closing.
The APB / HA candles Open, High,Low and Close are based on its calculated formula display correctly.
The APB/HA are never one bar late.
<>

You learned your HeikenAshi well . Good job!
My chart below again.
Attached Image (click to enlarge)
Click to Enlarge Name: CraigHarris NFF TMS REVERSAL candle.png Size: 47 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #106,955
  • Jul 28, 2020 2:36pm Jul 28, 2020 2:36pm
Quoting Tekkies
{quote} Ivan, wait till you read that: - TDI confirm Stoch. - First PA then TDI. - Remove TDI and Stoch from chart and keep only HA and 5EMA. - Use BigE words from other thread/method to twist BigE's words in this thread.

It is Swing High, REVERSAL candle with Stoch(8,3,3) %K cross %D signal,

"...If there is a reversal do I have a TDI signal to enter...."

Post#261
the TDI signal is green price line cross red trade signal line.

today's chart example:
Attached Image (click to enlarge)
Click to Enlarge Name: EURGBP Jul 28 M15 REVERSAL candle 29-7-2020 3-28-17 am.png Size: 50 KB

same as I explained before
NFF reversal
TMS 5-Method REVERSAL

https://www.forexfactory.com/thread/...8#post12828768
Attached Image (click to enlarge)
Click to Enlarge Name: CraigHarris NFF TMS REVERSAL candle.png Size: 47 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #106,956
  • Jul 28, 2020 4:22pm Jul 28, 2020 4:22pm
Quoting rikiros
{quote} You are right! I usually trade H1 at NY session for scalping 10-15 pip I rarely trade H4, next time I will check larger D1/W1 before taking a trade on H4. Thank you for showing me my mistake.
Trading H4 is not a mistake.

Like the OP said, we should make the transition to trading H4 and also the Daily.

Study all the OP' posts and learn from him.

Quoting eelfranz
Don't get fired ! Just make the necessary transition to trading 4hr charts during the London session... or Daily charts.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #106,957
  • Jul 28, 2020 4:50pm Jul 28, 2020 4:50pm
Quoting emmanuel7788
EURUSD Jul 28 H1 trade open - same plan the trade , TP1 10 pips, TP2 25 pips and TP3 75 pips and Capital Protection 15 pips. - there is room enough till the Day Open above. let THV CaveManager manage the trade exits. {image}

EURUSD Jul 28 H1 trade closed

using a trade manager to manage my trades has never been a wrong decision.

in this trade, Capital Protection saved the day!
- hit TP1 +10 pips
- the remaining got stopped out when price pulled back exited +2 pips.

Big E' exit idea is working with trade manager EA....


Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD Jul 28 H1 trades closed28-7-2020 7-46-09 pm.png Size: 48 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #106,958
  • Jul 28, 2020 5:06pm Jul 28, 2020 5:06pm
EURGBP Jul 28 H1 trade closed

the trade setup is simple... bearish engulfing outside bar that shows MOMENTUM, APB/HA candle closed below it 5EMA and both the Stoch(8,3,3) and the TDI RSI green price line,

same trade plan - TP1 10pips, TP2 25 pips and TP3 75 pips with Capital Protection 15 pips and CSTSL.

this time it is CSTSL that got hit +33pips

I have little to do after I open my sell positions.

Just let the trade manager EA do the work from me while I have other better things to do and sleep soundly knowing that there is Capital Protection working.

Attached Image (click to enlarge)
Click to Enlarge Name: EURGBP Jul 28 H1 trade closed 29-7-2020 5-56-55 am.png Size: 50 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #106,959
  • Jul 28, 2020 5:57pm Jul 28, 2020 5:57pm
Quoting ivan9578
{quote} Big E was saying EA referring to auto trading robots which do not work Words here you words not bige words! This politician talk! Twist add words not said by other man. This way is no good way to go! We don't want any EA's. Why? They can't observe and think like humans can and do. You need to learn to think on your own while trading and making your own decisions. HERE bige words!! No talk that ea can be tool! No talk that ea can manage trades! These words all words by politician that add and twist bige words! I say other post if not bige...
... man say bige words, here are bige words...

"If any of you know something BASIC about trading the forex... that's helped you... post it for the benefit of others.. We have many newer traders it can help."


Quoting eelfranz
If any of you know something BASIC about trading the forex... that's helped you... post it for the benefit of others.. We have many newer traders it can help.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #106,960
  • Jul 28, 2020 8:07pm Jul 28, 2020 8:07pm
Quoting emmanuel7788
{quote} It is Swing High, REVERSAL candle with Stoch(8,3,3) %K cross %D signal, "...If there is a reversal do I have a TDI signal to enter...." Post#261 the TDI signal is green price line cross red trade signal line. today's chart example: {image} same as I explained before NFF reversal TMS 5-Method REVERSAL https://www.forexfactory.com/thread/...8#post12828768 {image}
Emmauel am not going to respond all of your post where you try to impress newbies.
Two post will be enough to show how little substance your post's have.
-----
The very same post#261 that you like to use has this: Stochs is nothing but confirmation.
Post#1, post#647 also has the same words: It is ONLY used to confirm direction, Does Stoch's confirm the TDI signal
Ivan did a nice job of nailing you against the wall with these words:
No matter how you "make words that twist like politician!" BigE used Stoch for confirmation.
-------
Post 106,868 "well, that trade was a good example of a bonehead trader' trading."
What when wrong Emmanuel? Barely three houers later price broke your resistance.
Attached Image (click to enlarge)
Click to Enlarge Name: resises.PNG Size: 36 KB

I got what I wanted. a Trade that was closed in profited: Just follow the simple entry rules and TDI exit rules...
post#330, 495, 1933..................
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