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Trading Made Simple

  • #116,441
  • Feb 1, 2021 4:38pm Feb 1, 2021 4:38pm
Quoting 7division
{quote} We are still in dwn trend though.. unless fr a quick scalp

@7division

you are right.

the PA shows lower high and lower low for a few days

plus that breakout to the low of that H4 Master Candle consolidation is quite obvious of a PA sell trade not H1 buy

buying into the previous DAY OHLC???

swing traders would use that opportunity to build more sell positions and enjoy better sell entry average price.

https://www.forexfactory.com/thread/...5#post13388285

Attached Image (click to enlarge)
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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #116,442
  • Feb 1, 2021 5:19pm Feb 1, 2021 5:19pm
Quoting Mercayx16
thanks emmanuel! Can you explain with more detail this trailing stop. I dont know the difference and I have different broker not met 5... I put the average price of the las candlestick for the positions...I dont know if Im wrong... Help me please!!
@Mercayx16

what charting software do you use? broker?

I can show you on MT4 which is easy to learn.

You can open a Demo account with any MT4 broker

or

open a LIVE cent account with for example broker FBS and be able to test with LIVE market data.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #116,443
  • Feb 1, 2021 5:51pm Feb 1, 2021 5:51pm
I’m using FOREX.com but the only options with traveling stop is the quantities of pip and that’s all...
  • #116,444
  • Feb 1, 2021 5:52pm Feb 1, 2021 5:52pm
I have a demo account in MetaTrader 5 if you show me I will appreciated!
  • #116,445
  • Feb 1, 2021 6:10pm Feb 1, 2021 6:10pm
Quoting Mercayx16
I have a demo account in MetaTrader 5 if you show me I will appreciated!

OK.

I have now open one sell trade with my MT4 broker account.

The initial SL is above the previous 3 HA candles high ~50 pips

My set TP is 100 pips.

I will manage this with partial TPs and trailing stop using the price bar high, plus Capital Protection.

I will update as the trade progresses.


Attached Image (click to enlarge)
Click to Enlarge Name: EU Feb02 H4 sell entry 2-2-2021 8-05-47 am.png Size: 39 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #116,446
  • Feb 1, 2021 8:32pm Feb 1, 2021 8:32pm
thank you four your help!
  • #116,447
  • Feb 2, 2021 12:03am Feb 2, 2021 12:03am
Quoting emmanuel7788
{quote} OK. I have now open one sell trade with my MT4 broker account. The initial SL is above the previous 3 HA candles high ~50 pips My set TP is 100 pips. I will manage this with partial TPs and trailing stop using the price bar high, plus Capital Protection. I will update as the trade progresses. {image}
Wow genius!!

I think everyone including BigE needs to learn from you about counting. 1...2...3...4...1 or 2 again?
Or we need to learn you definition of "bounce".

But again. this is Trading Made Simple thread. (#49, #1822) Entries should be #1 or #2 HA candles of same color. If more than #3, either pass the opportunity or look for bounce trade (#1822), Also, try to avoid buy/sell into resistances/supports (#115), which the support was around the green line..... wait! That is not a h-line illustrating support?

How is your EURNZD going? Averaged down safely? bless you.
Please post more entries and share it as soon as possible. I need your entries to help me identify the tops and dips. EU could be a nice scalp for 20pips or so... You know... you have 65% accuracy after all. I was wrong...

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  • #116,448
  • Feb 2, 2021 12:06am Feb 2, 2021 12:06am
Quoting emmanuel7788
{quote} GU and EU H4 - today is easy when you look at the three amigos plus the composite USD strength, it is buy USD - trailing stop has several options 1_ use the price bar trailing stop 2_ use the APB/HA candle trailing stop 3_ use the PAC 3SSMA trailing stop 4_ use ATR trailing stop ... {image}
- today is easy when you look at the three amigos plus the composite USD strength, it is buy USD

Sorry, so why you sold?
  • #116,449
  • Feb 2, 2021 12:11am Feb 2, 2021 12:11am
Quoting 7division
{quote} We are still in dwn trend though.. unless fr a quick scalp
Thanks 7division. That is true I didn't take big trend into consideration. But I will definitely look out for it in the future.

Quoting DrDave
{quote} We are still in dwn trend though. Check lower TFs for perspective. On the bar he marked with the Vline, go check M5 and look left: M5 in confirmed up trend. And remember, change comes from the bottom up, not the top down. EDIT: Added M5 screen capture. {image}
I think different traders take different approaches to analyze the market. 7division looks at big trend in high timeframe. Your perspective can be useful in scalping. Thanks for your chart sharing. At least none of us are buying at tops or selling at dips... We are not cortisol junkie that desperate for Drawdowns and Averaging out.

I used to trade pull back from apex, and price movement into levels. So yes trend bias is not that much used.
EG is still hovering on the support, momentum was lost.

Please feel free to comment my charts in the future. Thank you
  • #116,450
  • Feb 2, 2021 12:23am Feb 2, 2021 12:23am
Feb 3

Waiting for some structure retests and divergences on few pairs. UJ may form a set up very soon. GU wait and look out for level retests.
  • #116,451
  • Feb 2, 2021 12:26am Feb 2, 2021 12:26am
Quoting tommydoginti
{quote} Thanks 7division. That is true I didn't take big trend into consideration. But I will definitely look out for it in the future. {quote} I think different traders take different approaches to analyze the market. 7division looks at big trend in high timeframe. Your perspective can be useful in scalping. Thanks for your chart sharing. At least none of us are buying at tops or selling at dips... We are not cortisol junkie that desperate for Drawdowns and Averaging out. I used to trade pull back from apex, and price movement into levels. So yes...
Quoting tommydoginti
{quote} Wow genius!! I think everyone including BigE needs to learn from you about counting. 1...2...3...4...1 or 2 again? Or we need to learn you definition of "bounce". But again. this is Trading Made Simple thread. (#49, #1822) Entries should be #1 or #2 HA candles of same color. If more than #3, either pass the opportunity or look for bounce trade (#1822), Also, try to avoid buy/sell into resistances/supports (#115), which the support was around the green line..... wait! That is not a h-line illustrating support? How is your EURNZD going? Averaged down safely? bless you. Please post more entries and share it as soon as possible. I need your entries to help me identify the tops and dips. EU could be a nice scalp for 20pips or so... You know... you have 65% accuracy after all. I was wrong... {image}

Compliments @failinforex (https://www.forexfactory.com/thread/...3#post13386143)

Type 1 or 2? Probably mostly 2, but with a substantial dose of 1, as well...

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  • #116,452
  • Feb 2, 2021 1:27am Feb 2, 2021 1:27am
Quoting tommydoginti
{quote} Thanks 7division. That is true I didn't take big trend into consideration. But I will definitely look out for it in the future. {quote} I think different traders take different approaches to analyze the market. 7division looks at big trend in high timeframe. Your perspective can be useful in scalping. Thanks for your chart sharing. At least none of us are buying at tops or selling at dips... We are not cortisol junkie that desperate for Drawdowns and Averaging out. I used to trade pull back from apex, and price movement into levels. So yes...
Your perspective can be useful in scalping.

It is not limited to scalping. If the D1 (or even higher) were the TF and the buy entries were being made based on H2 in an uptrend, and after entry the up swing was ridden until signs of it ending, would you call it scalping? I would not.

If you consider all of the TFs when making a decision for direction, then your entry was buying a rally. But how can a rally even happen if it is a down trend of that TF or higher?? Clearly, some SMALLER TFs MUST be in an uptrend. (Note that I would consider it a rally until evidence that it is a reversal. But if actually deciding to enter buys in the rally, then I MUST change perspective and look for the TFs that are in up trends that are required to create the rally.)

So, as I have said before, it is imperative to specify the TF you are speaking of when saying something like, "It's in a down trend".
To free Gazans of Hamas, use whatever it takes.
  • #116,453
  • Feb 2, 2021 1:52am Feb 2, 2021 1:52am
Quoting tommydoginti
{quote} - today is easy when you look at the three amigos plus the composite USD strength, it is buy USD Sorry, so why you sold?

@tommydogie

YES!

I sell EURUSD.

You need to go back to babypips pre-school and learn more before you start asking basic questions.

https://www.babypips.com/learn/forex...currency-pairs

when you continue to read the OP posts, pay more attention to what the OP E said often about the three amigos and when they ride together.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #116,454
  • Feb 2, 2021 1:54am Feb 2, 2021 1:54am
Quoting tommydoginti
Feb 3 Waiting for some structure retests and divergences on few pairs. UJ may form a set up very soon. GU wait and look out for level retests.

@tommydogie

today is Tuesday Feb 02.

wait for the Daily to close then tomorrow you can trade Feb 03.

buy USD strength but be prepared for a change today when US session opens.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #116,455
  • Feb 2, 2021 1:56am Feb 2, 2021 1:56am
Quoting tommydoginti
{quote} Wow genius!! I think everyone including BigE needs to learn from you about counting. 1...2...3...4...1 or 2 again? Or we need to learn you definition of "bounce". But again. this is Trading Made Simple thread. (#49, #1822) Entries should be #1 or #2 HA candles of same color. If more than #3, either pass the opportunity or look for bounce trade (#1822), Also, try to avoid buy/sell into resistances/supports (#115), which the support was around the green line..... wait! That is not a h-line illustrating support? How is your EURNZD going? Averaged...

@tommydogie

you did not read, study nor learn Post#647 yet

the HA candle count also apply to the Daily and the Weekly too.

EU Daily:
Attached Image (click to enlarge)
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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #116,456
  • Feb 2, 2021 2:15am Feb 2, 2021 2:15am
Quoting DrDave
{quote} Your perspective can be useful in scalping. It is not limited to scalping. If the D1 (or even higher) were the TF and the buy entries were being made based on H2 in an uptrend, and after entry the up swing was ridden until signs of it ending, would you call it scalping? I would not. If you consider all of the TFs when making a decision for direction, then your entry was buying a rally. But how can a rally even happen if it is a down trend of that TF or higher?? Clearly, some SMALLER TFs MUST be in an uptrend. (Note that I would consider...
Thanks Dave. MTF is another topic and you can help me with that. Please feel free to fill in the gaps of my analysis. I currently only look at single time frame for TMS signals.

Yes and you and Tekkis were right, Emmanual does need to retreat to daily or weekly to explain the "actual" analysis.. of course another empty chart so he can say anything in hindsight... That further confirm he is posting rubbish to confuse readers. LOL.
  • #116,457
  • Feb 2, 2021 2:23am Feb 2, 2021 2:23am
Attached Image (click to enlarge)
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MA provides the market's current direction and strength.
  • #116,458
  • Feb 2, 2021 2:28am Feb 2, 2021 2:28am
Quoting tommydoginti
{quote} Thanks Dave. MTF is another topic and you can help me with that. Please feel free to fill in the gaps of my analysis. I currently only look at single time frame for TMS signals. Yes and you and Tekkis were right, Emmanual does need to retreat to daily or weekly to explain the "actual" analysis.. of course another empty chart so he can say anything in hindsight... That further confirm he is posting rubbish to confuse readers. LOL.
@Tommygogie


Post#647

Your safest trades will always be when green crosses red and you enter on candle 1 or 2... odds are in your favor. Why? Because I'm expecting 3-8 candles... which is average...

With bounce trades the odds are lower for your success... but it still works.

When wanting to enter a TDI trade... take a moment first to observe basic 4x things... like:

How close am I to the previous high or lo

Am I in an uptrend or downtrend.. short & long term...

Am I in or close to a consolidation area

Are the previous candles small...

Look at the candles on the last reversal... big, little, what

How does the momentum look right now (12-2, 4-6)

Does Stoch's confirm the TDI signal

Sounds like a lot of stuff but it's basic stuff and only takes a moment to observe it...

If you don't already know these things... don't trade live yet... www.babypips.com is a good place to learn about the basics of trading 4X.

Attached Image
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #116,459
  • Feb 2, 2021 2:30am Feb 2, 2021 2:30am
Quoting tommydoginti
{quote} Thanks Dave. MTF is another topic and you can help me with that. Please feel free to fill in the gaps of my analysis. I currently only look at single time frame for TMS signals. Yes and you and Tekkis were right, Emmanual does need to retreat to daily or weekly to explain the "actual" analysis.. of course another empty chart so he can say anything in hindsight... That further confirm he is posting rubbish to confuse readers. LOL.

@tommydogie

#281

Don't get fired ! Just make the necessary transition to trading 4hr charts during the London session... or Daily charts.

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #116,460
  • Feb 2, 2021 2:31am Feb 2, 2021 2:31am
All trades closed as of #116428

EG: H1 TMS TDI cross buy signal. Price broke back in value zone ~0.8825. Thanks 7Division (#116,433) and DrDave (#116,434) for pointing out better management of this trade due to down trend on HTF. A potential scalp as of 7Division's comment. -20.9USDpips
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EJ: H4 TMS TDI cross sell signal. PA Up&Under indicated a supply zone at top green line (left, beyond chart). Set SL to BE too soon. An exit signal was indicated as TDI green line hooked back up for possible exit.
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GJ: H1 TMS TDI cross sell signal. Went smoothly. +34.9USDpips.
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