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Trading Made Simple

  • #113,921
  • Dec 28, 2020 4:04am Dec 28, 2020 4:04am
Quoting DrDave
{quote} Correct: That buy does not meet my standards for an H1 entry.
Let me say the truth, you may not like it. The market doesn't care about your standards. It proves by market I took profit.
The market doesn't care about my standard too.
MA provides the market's current direction and strength.
  • #113,922
  • Edited 7:22am Dec 28, 2020 7:06am | Edited 7:22am
Quoting hasib
{quote} Let me say the truth, you may not like it. The market doesn't care about your standards. It proves by market I took profit. The market doesn't care about my standard too.
Of course the market doesn't care about us.

Also, the fact that you made a profit on this one trade is also meaningless. Anyone could have simply flipped a coin for where to enter and where to exit and made a profit. One trade with profit proves nothing at all.

eDIT: OK, it actually DOES prove something: It proves that you have exactly 1 profitable trade.
To free Gazans of Hamas, use whatever it takes.
  • #113,923
  • Dec 28, 2020 7:10am Dec 28, 2020 7:10am
He Tekkies, I find it interesting how many people have come to this thread, initiated some arguments, claimed to be "finished" with the thread and even put some people on Ignore, only to pop up again in short time.

Maybe they don't have any mirrors around to look in??

a characteristic of a pompous ass is they can't stop responding.
To free Gazans of Hamas, use whatever it takes.
  • #113,924
  • Dec 28, 2020 7:20am Dec 28, 2020 7:20am
Quoting Tekkies
Going Down?
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I found it very interesting that you thought perhaps going down here, because indeed, we're trading inside the H32 swing down. However, today we are working on the H8 (and possibly H16) rally to the H32. So it's a pity that you ended up closing those buy trades earlier.

But, that is just part of the limitations that your system of using only 2 TFs imposes.
To free Gazans of Hamas, use whatever it takes.
  • #113,925
  • Dec 28, 2020 7:26am Dec 28, 2020 7:26am
This is the only valid setup I saw today after watching XAUUSD for a while. SL-Risk 5: Reward 1
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  • #113,926
  • Dec 28, 2020 7:36am Dec 28, 2020 7:36am
Quoting PixelSniper
This is the only valid setup I saw today after watching XAUUSD for a while. SL-Risk 5: Reward 1 {image}
Those kinds of trades where entry is away from a band that is reached are exactly the kind that I avoid; I need confirmation, not a suggestion. I WOULD have considered a sell in the down move after the arrow on the left when price broke below the consolidation at the midline, and then another sell furthest to the right around the midline again.

But for the second one, I would need to consult the TFs second30 and second15 to decide.
To free Gazans of Hamas, use whatever it takes.
  • #113,927
  • Dec 28, 2020 7:47am Dec 28, 2020 7:47am
Quoting DrDave
{quote} Those kinds of trades where entry is away from a band that is reached are exactly the kind that I avoid; I need confirmation, not a suggestion. I WOULD have considered a sell in the down move after the arrow on the left when price broke below the consolidation at the midline, and then another sell furthest to the right around the midline again. But for the second one, I would need to consult the TFs second30 and second15 to decide.
Yes, this one was a highly speculative entry,usually go with mid bb cross & lower band rush entries too.
But the
Quote
confirmations
I am looking for rejections in the price, and then I want to trade in that direction.
This was relatively a small one, the better the rejection the more confidence I'll have

This is an old chart, and blue ones are sell entries for example. These were real trades made by buddy&mentor back in the past,all are 5:1 R:R btw. I'm studying still.
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  • #113,928
  • Dec 28, 2020 9:56am Dec 28, 2020 9:56am
When I started reading about this system I said this looks great and when you apply a long position box to it you think you are going to make a decent number of pips but in actuality the HA candles are very misleading. See my snippet below / attached. The chart on the left is HA candles and the same chart on the right is with regular candles. Look at the black line separating the red and green boxes. On the left it looks good but when you look at the chart on the right it never gets down to that point. If you count 3 candles from the right of both charts you see the one on the right is much longer. I have not had any look taking trades with this on a demo account.

How do you determine your entry point if this system is going to work? I like the system but I can never find a good entry. Any help would be appreciated.

Thanks,

Michael
  • #113,929
  • Dec 28, 2020 10:30am Dec 28, 2020 10:30am
Well, it looks like the moderator removed my image on the post able. No problem, I probably don't have enough posts so I will try to explain a little more. So the HA candles are showing one thing but when you go to the regular candles the story is different. I know the HA candles will remove the noise in the market but you really need that noise to know what is going on.

When the close of the HA candle meets all the requirements of the TDI and bands how do you know where to place your entry because HA is showing one thing and the price action of the regular candles are different?

Thanks,

Michael
  • #113,930
  • Dec 28, 2020 11:05am Dec 28, 2020 11:05am
Quoting mjtravis
Well, it looks like the moderator removed my image on the post able. No problem, I probably don't have enough posts so I will try to explain a little more. So the HA candles are showing one thing but when you go to the regular candles the story is different. I know the HA candles will remove the noise in the market but you really need that noise to know what is going on. When the close of the HA candle meets all the requirements of the TDI and bands how do you know where to place your entry because HA is showing one thing and the price action of...
Because you look for the TDI green cross red immediately after a bar closes, you are trying to enter on the open of the very next bar. So if you are placing a market order, this is essentially impossible to do, because, by the time you have determined that the green cross red did occur, and then clicked the order entry button, you will miss the exact open.

So the reality is, it does not really matter that the bars look a bit different for HA vs regular bars.

If you missed pulling the trigger and it is LATE into the bar or even another bar in the swing has closed, then it would indeed be prudent to examine the regular bars when deciding on the late entry. Of course, you don't HAVE to do that: You could just jump in anywhere on HA bar 2 or bar 3 as long as there is not some obvious reason not to enter then.
To free Gazans of Hamas, use whatever it takes.
  • #113,931
  • Dec 28, 2020 11:08am Dec 28, 2020 11:08am
Quoting DrDave
{quote} I found it very interesting that you thought perhaps going down here, because indeed, we're trading inside the H32 swing down. However, today we are working on the H8 (and possibly H16) rally to the H32. So it's a pity that you ended up closing those buy trades earlier. But, that is just part of the limitations that your system of using only 2 TFs imposes. {image}
It did go down after I closed those sell orders!!!!!
The cherry on top of the cake, it went way past my sell entry's.
(Lost the ritme today with trading.)
Aaah well, tomorrow is a other day.
---
pompous ass?
Had a nice at irony of that post. Reading that post, the thought flashed "what you are doing is exactly the same as those you judge, that makes you also a pompous ass"
  • #113,932
  • Dec 28, 2020 11:08am Dec 28, 2020 11:08am
Quoting mjtravis
Well, it looks like the moderator removed my image on the post able. No problem, I probably don't have enough posts so I will try to explain a little more. So the HA candles are showing one thing but when you go to the regular candles the story is different. I know the HA candles will remove the noise in the market but you really need that noise to know what is going on. When the close of the HA candle meets all the requirements of the TDI and bands how do you know where to place your entry because HA is showing one thing and the price action of...
it looks like the moderator removed my image on the post able.
Which instrument, time frame, and time were you looking at?
To free Gazans of Hamas, use whatever it takes.
  • #113,933
  • Dec 28, 2020 11:18am Dec 28, 2020 11:18am
Quoting Tekkies
{quote} It did go down after I closed those sell orders!!!!! The cherry on top of the cake, it went way past my sell entry's. (Lost the ritme today with trading.) Aaah well, tomorrow is a other day. --- pompous ass? Had a nice at irony of that post. Reading that post, the thought flashed "what you are doing is exactly the same as those you judge, that makes you also a pompous ass"
Reading that post, the thought flashed "what you are doing is exactly the same as those you judge, that makes you also a pompous ass"
Attached Image
To free Gazans of Hamas, use whatever it takes.
  • #113,934
  • Dec 28, 2020 11:22am Dec 28, 2020 11:22am
Quoting mjtravis
When I started reading about this system I said this looks great and when you apply a long position box to it you think you are going to make a decent number of pips but in actuality the HA candles are very misleading. See my snippet below / attached. The chart on the left is HA candles and the same chart on the right is with regular candles. Look at the black line separating the red and green boxes. On the left it looks good but when you look at the chart on the right it never gets down to that point. If you count 3 candles from the right of both...
HA candle is to ensure to a degree a more calming, stress free trading environment.
#49..... When using Japanese candles you see up down up down and you’re stressed to the max during your trade... It's more calming to trade HA candles.
#261... HA Candles are important because it makes your trading way less stressful... use them.
#4088... If you don't like HA Candles then trades the Japaneese candles.
Test both and keep / remove what you want.
-----
Download BigE full.pdf, it will save you the hassle to read off topic / better the method type of post's by members.
Pay attention to post#647 and use TDI from post#25.
  • #113,935
  • Dec 28, 2020 11:29am Dec 28, 2020 11:29am
Quoting Tekkies
{quote} It did go down after I closed those sell orders!!!!! The cherry on top of the cake, it went way past my sell entry's. (Lost the ritme today with trading.) Aaah well, tomorrow is a other day. --- pompous ass? Had a nice at irony of that post. Reading that post, the thought flashed "what you are doing is exactly the same as those you judge, that makes you also a pompous ass"
It did go down after I closed those sell orders!!!!! The cherry on top of the cake, it went way past my sell entry's.
Yes, but that was just a retracement to the upswing. When you don't have the context provided by more time frames, it becomes more difficult to determine which direction is likely to be moving more strongly at any given moment.

(By the way, in the US, more people relate the "cherry on top" to the Maraschino cherry on top of the ice cream sundae than anything to do with cakes.
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)
To free Gazans of Hamas, use whatever it takes.
  • #113,936
  • Dec 28, 2020 11:31am Dec 28, 2020 11:31am
Quoting Tekkies
{quote}Aaah well, tomorrow is a other day. --- pompous ass? "
Perhaps you'll pop some cherries tomorrow, never give up man.
  • #113,937
  • Dec 28, 2020 11:45am Dec 28, 2020 11:45am
Was it likely on this EURUSD H1 for the up swing marked with the green trend line to be a good continuation to go above the swing high at the red X?

No.

Why not?

Because I could see that the red X swing is very HIGHLY LIKELY ending of the H8 up swing. When it followed through with a LOWER TOP, as anticipated, it gave me higher probability of successful selling on M15 (and possibly M30 if there is follow through).
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To free Gazans of Hamas, use whatever it takes.
  • #113,938
  • Dec 28, 2020 3:01pm Dec 28, 2020 3:01pm
EURUSD Dec 28 TMS_V19

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The 5 Fundamental Truths of Trading by Mark Douglas

1. Anything can happen.

2. You don’t need to know what is going to happen next to make money.

3. There is a random distribution between wins and losses for any given set of
variables that define an edge.

4. An edge is nothing more than an indication of a higher probability of one thing
happening over another.

5. Every moment in the market is unique.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #113,939
  • Dec 28, 2020 3:04pm Dec 28, 2020 3:04pm
EURUSD Dec 28

M15>M30>H1>H4 charts taken at that same time of all 4 timeframes instantaneously

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #113,940
  • Dec 28, 2020 3:06pm Dec 28, 2020 3:06pm
I'll test.. thank you sir.
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