{quote} TDI crossed up with Price Action aligned as of #647. 1 hour later you are more than 18 pips in profit. Manage your trade, such as set to BE.No one knows what the price will do. We are not to predict if price will go up or down. TMS is reactive to price movement. If price moves up you stay or take profit. If price moves down you cut loss or secure profit. Trade well. {image} #557 If I enter a trade lets say and I'm monitoring the trade and its up 50 pips but suddenly it pulls back 10-15 pips I just exit. I'll keep the profit at...
- #138,022
- Feb 14, 2023 9:21am Feb 14, 2023 9:21am
- Joined Oct 2020 | Status: Trader | 3,886 Posts
Hello traders, On H4 at the moment AU, do you know if it is going up? APB close below 200ma and PAC.
Hope you have banked the trade!
The TMS entry was at higher low as of #647, expect the previous High to be retested to potentially form a higher high.
Keep it simple. Following TDI cross with confluence with Price Action will get you there.
trade well
- #138,023
- Feb 14, 2023 9:29am Feb 14, 2023 9:29am
- Joined Oct 2020 | Status: Trader | 3,886 Posts
Happy Valentine’s Day and Year of the Rabbit everyone.
Flew to Taiwan for good food. Green pips everyone
Flew to Taiwan for good food. Green pips everyone
- #138,024
- Feb 14, 2023 6:37pm Feb 14, 2023 6:37pm
- Joined Nov 2008 | Status: Trader | 50,214 Posts
Feb 15 mid-week Daily
- US CPI was border line
AU
EU
GU
>
> looking possible
yesterday' high
...
- US CPI was border line
AU
EU
GU
>
> looking possible
yesterday' high...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #138,025
- Feb 14, 2023 6:41pm Feb 14, 2023 6:41pm
- Joined Nov 2008 | Status: Trader | 50,214 Posts
...{quote} another important piece of information why Big E did not rollover his 4hr trades is his use of the ADR Pro calculator. He would close his trades at 6am his local time. AU Feb 13 is a good example it 'exhausted' its ADR. This happens often in regular market conditions. On some days, news/event driven it can run +120%to160% of its ADR. Normally day-traders do not trade after the ADR got hit. Some would scalp at the top and bottom of the ADR High-Low {image} If you want the ADR Pro Calculator, Big E mentioned in
[/quote]
US CPI did the job for buyers ...
...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #138,026
- Feb 14, 2023 6:43pm Feb 14, 2023 6:43pm
- Joined Nov 2008 | Status: Trader | 50,214 Posts
Week07 Feb 13 to 17 - several high impact news/data - US markets under watch - be prepared! {image} NZD in about 40mins, - lets observe its ADR for intraday {image}
> ADR is a safe bet for your day trading Stop Loss
...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #138,027
- Feb 14, 2023 6:51pm Feb 14, 2023 6:51pm
- Joined Nov 2008 | Status: Trader | 50,214 Posts
{quote} Thanks for all your hard work and detail explanation. Great advise on the use of ADR, I will try it out. I am using the 5 ma high low shift+2. It worked well on a back testing software I bought. I saw some others had shift + 0 and shift +1. In backtesting I use PAC + APB + supply demand zone identification + 200ema + 100ema. Backtesting results were mostly great. Some years are good like 2018, 2020, 2021 and some years are not so great like 2019 and 2022. My personal opinion is shift + 0 overlap the APB which makes the APB looks congested...
GN Feb15 H1 Tokyo session ,
in 11min 42sec IF the APB/HA and Price Bar closes above the PAC, we have a setup
> H4, D1 and W1 has their own story to tell...
...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #138,028
- Feb 15, 2023 3:52am Feb 15, 2023 3:52am
- Joined Nov 2008 | Status: Trader | 50,214 Posts
{quote}{quote}... {image}
{image} ...[/quote]AU Feb15 H1
- 'exhausted' its ADR early
- will there be a bounce?
...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #138,031
- Edited 8:47am Feb 15, 2023 8:34am | Edited 8:47am
- | Joined Feb 2022 | Status: Trader | 19 Posts
I thinking on invest on stock market (maybe doing swing trading using D TF) and I wonder if BigE 5-method work on stock market? @emmanuel7788, what do you think about this?
I did stock market for 3 years. It is mostly fundamental going through accounting sheets + intrinsic value. A simple RSI and 2 moving averages will do.
There will be various challenges like
- Most movement are during the first hour of opening
- Most profitable trade between Jan to July. Before independence day.
- Not able to short. You can but will you invest in a dying company?
- Watching out for EPS date and director's movement.
- Only able to trade 3 days later after a closing a trade. US regulation.
- A good profit day is at most 2% on average
- Traditionally, candle stick patterns wouldnt work on smaller cap companies and tech companies.
- Penny stocks are more risker than forex. FDA approval type. In fact it is actually gambling.
Some insight, last year Jan 2022, within 3 - 5 days all sectors of stock market went red and down by approximate 20%, in a real world this shouldn't happen. e.g food industries wouldn't lose 20% of customer overnight. Therefore it became obvious Algo Trading is behind all this and went haywire.
Lagging indicators will work very well with stock market as it average out the emotions of millions of investors but Forex require leading indicators to guess the banker's and big firms decision which could be just 1 person within a the bank.
- #138,032
- Edited 5:47pm Feb 15, 2023 5:18pm | Edited 5:47pm
- Joined Nov 2008 | Status: Trader | 50,214 Posts
I thinking on invest on stock market (maybe doing swing trading using D TF) and I wonder if Big E 5-method work on stock market? @emmanuel7788, what do you think about this?
But if you are thinking of actively trading company stocks in the open market, Big E' TMS will not work and will not be your winning edge.
Note, Big E traded the US stock market for about 10 years before he started trading retail spot forex in 2006. Big E and I had the same trading coach and we both traded stock charts naked without any indicators. His 5-Method evolved from naked chart trading, he added moving averages, he added MACD, Stochastics, RSI, etc.
All these will not give you an edge over the market. Trading retail spot forex he was a speculator aka gambler his @Las Vegas.
With some money to spare, you can trade the stock markets. I traded the stock markets using Darvas Box trading strategy.
Darvas Box trading was popular during Big E time.
https://www.forexfactory.com/thread/...79#post7836679
Do some research on Darvas Box and Nicola Darvas.
These days, I rather trade the E-Mini Futures US market indices DOW, SP500 and NASDAQ, and Forex Futures.
...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #138,033
- Feb 15, 2023 5:27pm Feb 15, 2023 5:27pm
- Joined Nov 2008 | Status: Trader | 50,214 Posts
Feb 15 mid-week Daily - US CPI was border line AU {image} EU {image} GU {image} >
yesterday was a good day to day traders and scalpers.
did you make money?
swing traders must always wait for low risk trade ideas for the best setups.
Daily is sideways chopping Up and Down.
IF you are caught in the wrong side of the break, you Cut-Losses-Short... use 3CLB rule. There are only 52-weeks in one year, how many times can you cut loss with 2CLB?
AU
EU
GU
be patient like all DISCIPLINED traders.
...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #138,035
- Feb 15, 2023 10:42pm Feb 15, 2023 10:42pm
- Joined Nov 2008 | Status: Trader | 50,214 Posts
GBPNZD Feb16 H1 Pre-LO
London 4:30am
- IF you are using PAC(0)
...
London 4:30am
- IF you are using PAC(0)
...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #138,036
- Feb 15, 2023 10:50pm Feb 15, 2023 10:50pm
- Joined Nov 2008 | Status: Trader | 50,214 Posts
my forex setup! EURUSD if the pair loses the 50 day time average (blue) will look for next support at the 100- and 200-period averages (pink) and (red). the pair shows it has more space for the bears to dominate! wait for the 1.06600 support as if it holds, if it breaks, wait for a healthy pullback and go with the bears. {image}
Not all people can process that large amount of information when they are trading.
The OP of this thread is ~70% blind in both eyes, too many colors on his chart is just too busy for him. So he removed a lot of things and kept his trading charts to bare minimum of 3 to 5 colors only.
...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #138,037
- Feb 15, 2023 11:06pm Feb 15, 2023 11:06pm
- Joined Nov 2008 | Status: Trader | 50,214 Posts
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #138,038
- Feb 16, 2023 4:03am Feb 16, 2023 4:03am
- Joined Nov 2008 | Status: Trader | 50,214 Posts
GBPNZD Feb16 H1 Pre-LO London 4:30am - IF you are using PAC(0) {image} ...
GBPNZD Feb16 H1 London 10am
- risky ??? you decide!
...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #138,039
- Feb 16, 2023 4:41am Feb 16, 2023 4:41am
- Joined Nov 2008 | Status: Trader | 50,214 Posts
{quote} GBPNZD Feb16 H1 London 10am - risky ??? you decide! {image} ...
> WHAT IF after 30 mins and the price did not move with higher high +higher Close
> and pulls back to the HA candle
> you can manual close the buy trade and lose 15 -18 pips
...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #138,040
- Feb 16, 2023 5:02am Feb 16, 2023 5:02am
- Joined Nov 2008 | Status: Trader | 50,214 Posts
{quote} GN Feb16 H1 trade management EXIT! > WHAT IF after 30 mins and the price did not move with higher high +higher Close > and pulls back to the HA candle > you can manual close the buy trade and lose 15 -18 pips {image} ...
- very nice! ... H1 closed with higher high + higher Close
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett