Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- View Post
- Hidden for breach of Trader Code of Conduct
- #128,763
- Jan 20, 2022 5:12am Jan 20, 2022 5:12am
- Joined Nov 2008 | Status: Trader | 50,194 Posts
Question for Emmanuel: Could you breakdown how you use the ADR trailing stop loss when you trade daily charts? I am having a hard time with the exits as there is so much discretion involved there. Having read the first 40 pages from Big E so far, my summary of Big E's exit rules are: TDI becoming flat Rollovers/Hooks Checkmarks TDI line crossing red line towards opposite trading direction (could be opposite entry signal sometimes) PA Ranging after multiple candles (e.g. small candles forming) Candles with long wicks in your trading direction (PA...
using TDI for exit is for conservative traders when they trade the aggressive reversal entry.
Big E did not trade the Daily chart much and he was testing the Daily Post#8703 but did not post any of his trading results.
His TDI exit (Post#6) has some confusion in the past. See Post #7612. You do no have to exit using the TDI. You can exit based on price and price action using the HA candles and the 5EMA Typical Price, Shift+2.
If you want to consider using the ATR, then the ATR-Stop is one way to place your stop loss and trailing stop.
study this:
https://forex-indicators.net/volatil...handelier-exit
...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #128,764
- Jan 20, 2022 7:45pm Jan 20, 2022 7:45pm
- Joined Nov 2008 | Status: Trader | 50,194 Posts
EURNZD Jan21 H4
-
...
-
...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #128,765
- Jan 21, 2022 3:11am Jan 21, 2022 3:11am
- Joined Nov 2008 | Status: Trader | 50,194 Posts
EURNZD Jan21 H4 - {image} ...
that was a "Perfect setup"...
- price action ... swing low with bullish outside bar BUOB
- Reversal candle with Stoch(8,3,3) signal
- TDI Golden cross
...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #128,766
- Jan 21, 2022 3:03pm Jan 21, 2022 3:03pm
Closed out GBPCAD (short) for a tiny profit. PA looked like it's pulling back / consolidating. Will look for another short continuation trade if price moves back down. Opened a new USDCAD long trade as TDI is pointing up and a large bullish candle is about to close. AUDJPY and GBPSGD are still open. The constant overnight interest fees are something I still have to wrap my head around. Probably experimentation with the 4h chart needed. By the way, I setup a public ForexFactory trade explorer journal to keep myself accountable and transparent 
Anyway, I don't give much regard to all these trades besides evaluating how I traded these. I need a real huge sample size. On to the next 100 trades.
Anyway, I don't give much regard to all these trades besides evaluating how I traded these. I need a real huge sample size. On to the next 100 trades.
- #128,767
- Jan 23, 2022 5:14am Jan 23, 2022 5:14am
- Joined Nov 2008 | Status: Trader | 50,194 Posts
Closed out GBPCAD (short) for a tiny profit. PA looked like it's pulling back / consolidating. Will look for another short continuation trade if price moves back down. Opened a new USDCAD long trade as TDI is pointing up and a large bullish candle is about to close. AUDJPY and GBPSGD are still open. The constant overnight interest fees are something I still have to wrap my head around. Probably experimentation with the 4h chart needed. By the way, I setup a public ForexFactory trade explorer journal to keep myself accountable and transparent
you will do well trading the Daily chart. avoid the H1 and below.
pick only the Daily best trade setups when you want to trade reversals.
better trades are the continuation setups i.e. after the reversal and the Weekly is in favour.
avoid over-trading and manage your account margin.
all the best and trade well.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #128,768
- Jan 23, 2022 5:38am Jan 23, 2022 5:38am
- Joined Nov 2008 | Status: Trader | 50,194 Posts
{quote}
- pick the continuation ...
- buy USD
...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #128,769
- Jan 23, 2022 5:40am Jan 23, 2022 5:40am
- Joined Nov 2008 | Status: Trader | 50,194 Posts
{quote} USD pairs Daily for Week 04 Jan 24 to 28 - pick the continuation ... {image} ...
JPY pairs Daily for Week 04 Jan 24 to 28
- JPY strength continues
...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #128,770
- Jan 23, 2022 5:44am Jan 23, 2022 5:44am
- Joined Nov 2008 | Status: Trader | 50,194 Posts
{quote} JPY pairs Daily for Week 04 Jan 24 to 28 - JPY strength continues {image} ...
SGP pairs Daily for Week 04 Jan24 to 28
- pick SGP strength for continuation
...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #128,771
- Jan 23, 2022 6:44am Jan 23, 2022 6:44am
- Joined Nov 2008 | Status: Trader | 50,194 Posts
Fractals
knowing the higher timeframe fractal when you are on your lower timeframe chart,
for e.g. when trading H4, you can see the D1 fractal for thge swing high and swing low.
Nice tool { here }
https://www.mql5.com/en/code/35575
...
knowing the higher timeframe fractal when you are on your lower timeframe chart,
for e.g. when trading H4, you can see the D1 fractal for thge swing high and swing low.
Nice tool { here }
https://www.mql5.com/en/code/35575
...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #128,772
- Edited 10:23am Jan 23, 2022 8:08am | Edited 10:23am
{quote} JPY pairs Daily for Week 04 Jan 24 to 28 - JPY strength continues {image} ...
I am planning to go short on the CADJPY when the market opens based on the daily.
- #128,773
- Jan 23, 2022 7:11pm Jan 23, 2022 7:11pm
- Joined Nov 2008 | Status: Trader | 50,194 Posts
{quote} Thanks for the tipps Emmanuel!
- Stop loss (cut-loss) above previous 2-weeks high
- 0.5 ADR(100) is about 35 pips distance between orders, maximum 5 orders per basket.
- manage using Average Entry Price AEP of each basket.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #128,774
- Jan 24, 2022 12:10am Jan 24, 2022 12:10am
- Joined Nov 2008 | Status: Trader | 50,194 Posts
AUDUSD Jan24 H4
- CONTINUATION trade setup
- Price Action Double Bars High Lower Close DBHLC
...
- CONTINUATION trade setup
- Price Action Double Bars High Lower Close DBHLC
...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #128,775
- Jan 24, 2022 5:30am Jan 24, 2022 5:30am
- Joined Sep 2015 | Status: Trader | 2,516 Posts
Trading thin liquidity at the boundary of the charts
- #128,777
- Jan 24, 2022 1:24pm Jan 24, 2022 1:24pm
- | Membership Revoked | Joined Jun 2011 | 9,885 Posts
To free Gazans of Hamas, use whatever it takes.
- #128,779
- Edited Jan 25, 2022 9:16am Jan 24, 2022 4:08pm | Edited Jan 25, 2022 9:16am
- | Membership Revoked | Joined Jun 2011 | 9,885 Posts
To free Gazans of Hamas, use whatever it takes.
- #128,780
- Jan 24, 2022 6:57pm Jan 24, 2022 6:57pm
- Joined Nov 2008 | Status: Trader | 50,194 Posts
Just closed the short GBPSGD trade with a 3:1 reward to risk. I was contemplating to hold longer. But as the TDI was nearing its 32 line, I thought I lock in the gains instead of risking a sharp pullback even though the downtrend might continue. {image}
When one timeframe is in perceived over-sold or over-bought, the next higher timeframes dictate the market type condition.
The full TDI has more technical information than what Big E used because he was a short term trader on his 4hr.
Weekly has room down to BRN 1.800ish.
Trade Management and Trading Psychology
"To maximize profits we must be prepared to give back to the market 50% of what the market gave us."- Dr Van K Tharp
> You can lock 1.5R and manage each step on Daily.
> You can trail using R and R-Multiple or the APB/HA candle .
> Let the market decide the final TP.
GBPUSD Big Picture
Daily
...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett