Hi Sam21, I just took the short on GU. NY afternoon is not the best time to enter a trade but since I am on a demo account I went ahead and tried it. I figure it may pull back down to around 1.66000
The set up looks great to me but the time of day may not work out.
Hey guy's recently found this thread. I have been scalping mostly over the last 2 or 3 years but been looking for a simple longer term method. I fancy trying this on the Daily timeframe. Anyone else tried this out? I know it has been mentioned in the thread a couple of times.
Prefer a USDCAD short cross on TDI. One more hour to decide. Any opinion is most welcomed.
p/s: pls ignore the ichimoku indicator.
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Actually you probably should have already went long on that one. I think the rules are to try and get in on candle one or two. Don't wait till candle three to enter
-10 pips for the day two shorts on usdjpy and gbpjpy and a long on usdchf. All pairs I traded were very quiet just bobbing up and down 15 pips all day. Still up 150 pips for the week (only traded three days) and 450 last week. With the Market likely to be quiet tomorrow and Monday (uk bank holidays) is it wise to perhaps drop to a lower timeframe - perhaps the one hour and target only the major pairs?
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I actually just reviewed all three of my trades today and I was in late on all three of them, getting in on candle 2 or 3. If I'd been in on the candle earlier (as soon as the cross occurred) all three would have been profitable and good for 30-40 pips each.
Is it Color #2 yellow?
Are this also a volatility band and do you let it at 34 or ist more a near 80 or so?
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The yellow line on this chart is the "Market Base Line". It shows the general trend and usually ranges between the 32 and 68 'level' lines. I don't think the volatility bands are shown on your chart. Then again, I could be wrong.
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Joined Aug 2010
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Status: Soon to be employed by the market
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Ok when you get a setup say after one hour it only move 5 pip in your derection and then the tdi start turning do you exit even if you are at negetive pips
We Enter a trade when green crosses red on the TDI at the beginning of that candle... If it's candle 3 or more don't enter... find another trade set up. The only exception is if green bounces off red and continues... it's ok to re-enter on the bounce...
Exit your trade when the green TDI line goes flat, starts to hook over or makes a check mark reversal.
If you add other things it will influence your decisions... usually to your detrament. Don't try to complicate it thinking it can't be this easy.
Important to study TDI entries on old charts, any time frame... Give yourself a chance and trade it like it's layed out...
... if I see a new set up I'll enter and go back to bed with the last alarm at 5:50am my time. I close all trades at that time and go back to sleep... There are enough set ups in a normal week to make 200-500 pips... Stress is zero....
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Eelfranz, have you ever stay on your trade (keep the position open) even on 5:50 am (your time) because of the TDI has not shown the exit signal (the TDI still pointing up or down, not flat)? Or you're just so discipline to close all your open trades whether they are profit or loss exactly around 5:50 to 6:00?
