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Monitor for 'Trading Made Simple' system 565 replies

Trading Made Simple the right way, and other trading lessons 334 replies

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Trading Made Simple

  • #107,001
  • Jul 30, 2020 3:05am Jul 30, 2020 3:05am
GBPUSD Jul 30 H1 - Follow the Daily candle trade

- find the right place and time on H1 then place an entry

- Same trade plan - TP1 10pips, TP2 25 pips and TP3 75 pips with CSTSL and Capital Protection 15 pips.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD Jul 30 H1 w Daily 30-7-2020 4-02-07 pm.png Size: 51 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #107,002
  • Jul 30, 2020 4:13am Jul 30, 2020 4:13am
Quoting emmanuel7788
GBPUSD Jul 30 H1 - Follow the Daily candle trade - find the right place and time on H1 then place an entry - Same trade plan - TP1 10pips, TP2 25 pips and TP3 75 pips with CSTSL and Capital Protection 15 pips. {image}

I've had my eye on this pair also, H4, but it's moving sideways at MAR resistance, plus H1 is looking a little unfriendly
I'm waiting for further data before buying...if it turns favourable at all....it might, but not yet for me

good luck to you
  • #107,003
  • Jul 30, 2020 5:05am Jul 30, 2020 5:05am
Quoting KennethYang
GBP/USD 1H That's why I trade only 10 pips on 1H.
Attached Image
Here is GBPUSD M15 with the swing down that you sold.

During this swing, the H4 also came down, giving down bias to smaller TFs. And of course, smaller TFs will make rallies to this.

You can monitor the progress of the H1 entry by viewing M15 to help decide about an exit.

You can see at the close of the bar with the green vertical that TDI green x red up. Also the momentum plot shows the slope of the green and red up and the yellow has gone flat, supporting this as an exit point with momentum turning up. If you wait for the close of the next HA bar, it is an up bar, and in this case, you would not give back much.

Although the H4 going down places a down bias, the rallies must be monitored to see if they go too far up.

As the rally progressed, it did go too far, turning up H2 and placing pressure on H4 to turn back up in a continuation of the up trend.
Attached Image
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  • #107,004
  • Jul 30, 2020 5:40am Jul 30, 2020 5:40am
Quoting DrDave
{quote} Here is GBPUSD M15 with the swing down that you sold. During this swing, the H4 also came down, giving down bias to smaller TFs. And of course, smaller TFs will make rallies to this. You can monitor the progress of the H1 entry by viewing M15 to help decide about an exit. You can see at the close of the bar with the green vertical that TDI green x red up. Also the momentum plot shows the slope of the green and red up and the yellow has gone flat, supporting this as an exit point with momentum turning up. If you wait for the close of the...
Thank you for a good point of view!
I'll keep your comment.
  • #107,005
  • Jul 30, 2020 6:05am Jul 30, 2020 6:05am
Quoting KennethYang
GBP/USD 1H That's why I trade only 10 pips on 1H. {image}

another profitable trade using PAC.

I wonder why you did not take the next buy setup following the sell exit.

Anyway, all the previous price action, support&resistance, consolidation, reversal candle, etc.... I see are all on that portion of your H1 chart.

The CONFLUENCE factor is important when we look at support & resistance. We see all these as each price bar/HA candle open and close in live realtime market.

Attached Image (click to enlarge)
Click to Enlarge Name: KennethYang GBPUSD H1 POMO 30-7-2020 6-52-19 pm.png Size: 309 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #107,006
  • Jul 30, 2020 6:09am Jul 30, 2020 6:09am
Quoting emmanuel7788
GBPUSD Jul 30 H1 - Follow the Daily candle trade - find the right place and time on H1 then place an entry - Same trade plan - TP1 10pips, TP2 25 pips and TP3 75 pips with CSTSL and Capital Protection 15 pips. {image}

Quoting Le.Metier
{quote} I've had my eye on this pair also, H4, but it's moving sideways at MAR resistance, plus H1 is looking a little unfriendly I'm waiting for further data before buying...if it turns favourable at all....it might, but not yet for me good luck to you
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD Jul 30 H1 w Daily 30-7-2020 4-02-07 pm.png Size: 51 KB


Thanks.


GBPUSD Jul 30 H1 Trade Management Update

Here is my trade update:

As of now, taken TP1 +10 pips, TP2 +25 pips and now wait for NY Open.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD Jul 30 H1 trade update TP2 30-7-2020 7-07-13 pm.png Size: 49 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #107,007
  • Jul 30, 2020 6:18am Jul 30, 2020 6:18am
Quoting emmanuel7788
Two H1 trades taken at the H4 10PM PDT . Both trades same price action is buy above Day Open as support. Same trade plan - TP1 10pips, TP2 25 pips and TP3 75 pips with CSTSL and Capital Protection 15 pips. EURAUD Jul 30 H1 {image} USDCAD Jul 30 H1 {image}
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD Jul 30 H1 10PM PDT trade 30-7-2020 2-14-19 pm.png Size: 47 KB



EURAUD Jul 30 H1 trades closed

- TP1 +10pips,
- TP2 +25 pips
- last position exit +13 pips ... H1 REVERSAL candle setup ...buy trade invalidation.

Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD Jul 30 H1 trades closed 30-7-2020 7-12-50 pm.png Size: 46 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #107,008
  • Jul 30, 2020 6:52am Jul 30, 2020 6:52am
Quoting emmanuel7788
{quote} another profitable trade using PAC. I wonder why you did not take the next buy setup following the sell exit. Anyway, all the previous price action, support&resistance, consolidation, reversal candle, etc.... I see are all on that portion of your H1 chart. The CONFLUENCE factor is important when we look at support & resistance. We see all these as each price bar/HA candle open and close in live realtime market. {image}
Thank you!
I think the greed is the most dangerous.
So, for being humble, I trade once per one pair per a day.
I traded GBP/USD sell in FO and GBP/JPY sell in LO today.
That's it.
I'm looking for another pair now.

Anyway, GBP is very strong these days...
  • #107,009
  • Jul 30, 2020 7:10pm Jul 30, 2020 7:10pm
Quoting KennethYang
{quote} Thank you! I think the greed is the most dangerous. So, for being humble, I trade once per one pair per a day. I traded GBP/USD sell in FO and GBP/JPY sell in LO today. That's it. I'm looking for another pair now. Anyway, GBP is very strong these days...
FEAR and GREED are emotions which traders will have to harness the power of these two,

then use its power to their advantage.

Warren Buffet once said:

Attached Image (click to enlarge)
Click to Enlarge Name: Warren Buffett fearful and greedy.png Size: 449 KB


Limiting to just one trade per pair is a good so long as this will achieve your financial goal.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #107,010
  • Jul 30, 2020 7:18pm Jul 30, 2020 7:18pm
Quoting KennethYang
{quote} ... Anyway, GBP is very strong these days...
Yes, GBPUSD rally very nicely and when it breaks previous high and trade into "empty space" I only have one reason to buy only... until ... .

today is month end and some traders have FEAR of the Month shadow.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD Jul 31 31-7-2020 8-06-01 am.png Size: 15 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #107,011
  • Jul 30, 2020 7:36pm Jul 30, 2020 7:36pm
GBPUSD Jul 31 Month-End

Fear and Greed between levels 1.3100 and 1.3200.

"to see farther, climb higher and look farther left not right..."

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD Jul 31 MN-end Fear and Greed 31-7-2020 8-31-55 am.png Size: 27 KB



TMS 5-Method charts:

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD Jul 31 M5 MTF charts 31-7-2020 8-37-44 am.png Size: 47 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #107,012
  • Jul 30, 2020 7:49pm Jul 30, 2020 7:49pm
Quoting eelfranz
Hey Gang, You know I prefer to trade the the 1 & 4hr timeframes.... Don't be afraid to trade the Dailies for you working guys and gals. They generally have nice runs per reversal.... give it a try....

On Jun 06, the OP said this "Don't be afraid to trade the Dailies for you working guys and gals. They generally have nice runs per reversal.... give it a try..."

then on Jun 23 he said this: "I'm going to do a test on the Daily charts. When green crosses red I'll stay in until green crosses red again"

Quoting eelfranz
I'm going to do a test on the Daily charts. When green crosses red I'll stay in until green crosses red again. I'll report the results in a week or so... I'll only enter if the candles are medium length or larger... wish me luck ...

Now, we shall all wait and see if the Daily will turn around and the TDI green price line crosses its red trade signal line, then we determine how many pips win/loss.

But before that, pay attention to the Price Action and when the green price line re-enters it blue volatility upper-band... the we will know the Synergy Pro traders' market type conditions.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD d1 MTF chart 31-7-2020 8-46-16 am.png Size: 56 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #107,013
  • Jul 30, 2020 9:16pm Jul 30, 2020 9:16pm
Gold 1D

I'm waiting for pullback.. sell.
Attached Image (click to enlarge)
Click to Enlarge Name: 0731_Gold.png Size: 24 KB
  • #107,014
  • Jul 30, 2020 10:01pm Jul 30, 2020 10:01pm
Quoting KennethYang
Gold 1D I'm waiting for pullback.. sell. {image}

XAUUSD Daily Jul 31

- its is in 2 days (Jul 29 and Jul 30) consolidation ... unless today changes the situation (unlikely) Price is toppisch @1980.

Look at your Synergy_Pro Traders_Dynamic_Index, look at the shape of the volatility band VB ... it is shape like a 'sausage' and the RSI green price line went outside the volatility upper band VB and re-enters its VB, this indicates the the price volatility and its PA is in consolidation.

- in a bullish rally, buy the dips in LTF.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #107,015
  • Edited 11:07pm Jul 30, 2020 10:44pm | Edited 11:07pm
Quoting emmanuel7788
{quote} XAUUSD Daily Jul 31 - its is in 2 days (Jul 29 and Jul 30) consolidation ... unless today changes the situation (unlikely) Price is toppisch @1980. Look at your Synergy_Pro Traders_Dynamic_Index, look at the shape of the volatility band VB ... it is shape like a 'sausage' and the RSI green price line went outside the volatility upper band VB and re-enters its VB, this indicates the the price volatility and its PA is in consolidation. - in a bullish rally, buy the dips in LTF.
Yes!
But, gold price is testing $1970 (resistance)..
If the pullback occur on that price $1970, I will entry sell on M30 or 1H.
Thank you!
  • #107,016
  • Jul 31, 2020 1:25am Jul 31, 2020 1:25am
Quoting KennethYang
{quote} Thank you! I think the greed is the most dangerous. So, for being humble, I trade once per one pair per a day. I traded GBP/USD sell in FO and GBP/JPY sell in LO today. That's it. I'm looking for another pair now. Anyway, GBP is very strong these days...
You nailed it, Kenneth.
Reading with Google search, many traders mentioned trading only one pair can be profitable.
DrDave gave the advice to aim for only 10 pips per day.
Increase / decrease the lot size on Account Equity can be consider a wise strategy.
  • #107,017
  • Jul 31, 2020 1:32am Jul 31, 2020 1:32am
Quoting Tekkies
{quote} You nailed it, Kenneth. Reading with Google search, many traders mentioned trading only one pair can be profitable. DrDave gave the advice to aim for only 10 pips per day. Increase / decrease the lot size on Account Equity can be consider a wise strategy.
Yap!
10 pips per one pair per one day!
I usually trade 2 pairs per day.
My goal is +20 pips in 2 pairs per one day.
  • #107,018
  • Jul 31, 2020 1:54am Jul 31, 2020 1:54am
Quoting Tekkies
{quote} You nailed it, Kenneth. Reading with Google search, many traders mentioned trading only one pair can be profitable. DrDave gave the advice to aim for only 10 pips per day. Increase / decrease the lot size on Account Equity can be consider a wise strategy.
Reading with Google search ...

Try search with these keywords with the OP posts.

"Shocking Revelation"

"Money Management"

"15-30% of my account"

and

"patience of Job and Moses"
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #107,019
  • Jul 31, 2020 1:58am Jul 31, 2020 1:58am
Quoting KennethYang
{quote} Yes! But, gold price is testing $1970 (resistance).. If the pullback occur on that price $1970, I will entry sell on M30 or 1H. Thank you!



Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSD Jul 31 BRN 31 1970 31-7-2020 2-56-19 pm.png Size: 51 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #107,020
  • Jul 31, 2020 2:01am Jul 31, 2020 2:01am
Quoting emmanuel7788
{quote} {quote} {image} Thanks. GBPUSD Jul 30 H1 Trade Management Update Here is my trade update: As of now, taken TP1 +10 pips, TP2 +25 pips and now wait for NY Open. {image}
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD Jul 30 H1 trade update TP2 30-7-2020 7-07-13 pm.png Size: 49 KB


GBPUSD Jul 30 trades closed

TP1 +10pips
TP2 +25 pips
TP3 +75 pips

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD Jul 30 H1 trades closed TP3 31-7-2020 6-55-58 am.png Size: 47 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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