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  • #841
  • May 1, 2011 11:47pm May 1, 2011 11:47pm
From the little I know about ths method of trading, this HAS to be a good trade setup doesnt it?? Look at the angle of the TDI and stoch, and the hourly chart agrees with the direction and the daily looks to be turning that way also. Big red candle....crossed the ema line. From what I understand this would be a high probability trade wouldnt it??
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  • #842
  • May 2, 2011 12:09am May 2, 2011 12:09am
From my point of view, trade on 05 GMT today :

1. GBPUSD : SELL, because :
- TDI Green @ 5 o'clock
- TDI Red @ 4 'o'clock
- TDI between 50 and 68 level
- Sell @ Red Candle #2
- Stochastic @ 5 o'clock
- 5 EMA @ 4 o'clock

2. USDJPY : BUY, because :
- TDI Green @ between 12 and 1 o'clock
- TDI Red @ 1 'o'clock
- TDI between 32 and 50 level
- Buy @ Blue Candle #2
- Stochastic @ 1 o'clock
- 5 EMA @ 2 o'clock

Not Quite sure :

3. USDCHF : BUY, because :
- TDI Green @ 1 o'clock
- TDI Red @ 2 'o'clock
- TDI between 32 and 50
- Buy @ Blue Candle #2
- Stochastic @ 1 o'clock
- 5 EMA @ between 2 and 3 o'clock --> this made me doubt to enter

Here are the pictures :
(Fellow traders, please correct me if I'm wrong, I'm still learning to get used this strategy, thanks)

PS : I'm smiling when using "o'clock" word ... hahaha... I feel like a member of an army team who battle with the enemy on the jungle ...
"See...there's enemy on 1 o'clock .. go ahead.. shoot !!!!"
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  • #843
  • May 2, 2011 12:13am May 2, 2011 12:13am
Yes but a new candle just formed on the 4hr - it crossed on the first candle, so you'd be getting in late = less probability of success.
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  • #844
  • May 2, 2011 12:17am May 2, 2011 12:17am
Quoting Bom-Bom
From my point of view, trade on 05 GMT today :

1. GBPUSD : SELL, because :
- TDI Green @ 5 o'clock
- TDI Red @ 4 'o'clock
- TDI between 50 and 68 level
- Sell @ Red Candle #2
- Stochastic @ 5 o'clock
- 5 EMA @ 4 o'clock

2. USDJPY : BUY, because :
- TDI Green @ between 12 and 1 o'clock
- TDI Red @ 1 'o'clock
- TDI between 32 and 50 level
- Buy...
the GBP/USD and USD/JPY crossed the candle earlier, both would be getting in late, thats not to say they wouldn't be profitable - everything else looks good.
  • #845
  • May 2, 2011 12:18am May 2, 2011 12:18am
Quoting 2scoops
Yes but a new candle just formed on the 4hr - it crossed on the first candle, so you'd be getting in late = less probability of success.
2scoop, I believe that in FXDD, before new 4H candle formed (on 05:00 GMT), the TDI did not cross yet (I've watched it before 05:00 GMT, only I did not take the screenshot before).
Later. before the new candle formed, I'll take the screenshot so we can compare before and after the new candle formed. BTW, I see that you're using FX Primus chart, is that 4H period the same with FXDD? Thanks

Kindest Regards,
Bom2
  • #846
  • May 2, 2011 12:21am May 2, 2011 12:21am
Quoting Bom-Bom
From my point of view, trade on 05 GMT today :

1. GBPUSD : SELL, because :
- TDI Green @ 5 o'clock
- TDI Red @ 4 'o'clock
- TDI between 50 and 68 level
- Sell @ Red Candle #2
- Stochastic @ 5 o'clock
- 5 EMA @ 4 o'clock

2. USDJPY : BUY, because :
- TDI Green @ between 12 and 1 o'clock
- TDI Red @ 1 'o'clock
- TDI between 32 and 50 level
- Buy...
with all three of those trades if you zoom right in they just about crossed the candle earlier, would be getting in late, thats not to say they wouldn't be profitable - everything else looks good.
  • #847
  • Edited 12:39am May 2, 2011 12:26am | Edited 12:39am
Quoting Bom-Bom
2scoop, I believe that in FXDD, before new 4H candle formed (on 05:00 GMT), the TDI did not cross yet (I've watched it before 05:00 GMT, only I did not take the screenshot before).
Later. before the new candle formed, I'll take the screenshot so we can compare before and after the new candle formed. BTW, I see that you're using FX Primus chart, is that 4H period the same with FXDD? Thanks

Kindest Regards,
Bom2
Ok thanks, I wasn't watching it before 6am so thanks for pointing that out.
  • #848
  • May 2, 2011 12:31am May 2, 2011 12:31am
Hi 2scoops, using Trade Simulator, I can give you the screenshot of GBPUSD just before 05:00 GMT. On this simulation chart, we can see that before 05:00 GMT, the TDI has not crossed yet. The cross happen after the new 4H candle on 05:00 GMT is forming.

Best Regards,
Bom2
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  • #849
  • May 2, 2011 12:44am May 2, 2011 12:44am
thanks! did you take the trade?
  • #850
  • May 2, 2011 12:46am May 2, 2011 12:46am
2 scoops and Bom Bom. I too am learning this method and I agree with Bom Bom. A few posts back I asked eelfranz about this and he said you assess and enter your trade on the opening of a new candle. Thats when he does it. This is why he sets his alarm to get up and look at his charts at the opening of each new 4 hour candle. So the candle bom bom is entering on I believe is correct. The candle to be entered on is the new opening candle (which would be as bom bom said - the second red candle).
Bom bom....I dont recall reading anything about the ema having to be on a similar angle as the tdi and stoch???? I thought the candle simply had to cross the ema for an entry signal not be an any particular angle?? Did I miss something??
All of this is just my interpetation of it and could be horribly wrong so please anybody feel free to correct and criticise.
  • #851
  • May 2, 2011 12:52am May 2, 2011 12:52am
2 scoops and bom bom. Post 770 is the answers I got from eelfranz regarding enbtering trades. Please dont think I am criticising you 2scoops, I am just trying to make sure I am interpreting it correctly, as I said, I may be totally incorrect and happy to be told so. We all need to be looking at the right signals if we are to succeed I reckon.
  • #852
  • May 2, 2011 12:53am May 2, 2011 12:53am
Quoting 2scoops
thanks! did you take the trade?
Yes.
GBP : Sell @ 1.6654. -17 now (that's fine)
USDJPY : Buy @ 81.52. +1 now
USDCHF : Buy @ 0.8685. +3 now
  • #853
  • May 2, 2011 12:56am May 2, 2011 12:56am
Quoting dean
2 scoops and Bom Bom. I too am learning this method and I agree with Bom Bom. A few posts back I asked eelfranz about this and he said you assess and enter your trade on the opening of a new candle. Thats when he does it. This is why he sets his alarm to get up and look at his charts at the opening of each new 4 hour candle. So the candle bom bom is entering on I believe is correct. The candle to be entered on is the new opening candle (which would be as bom bom said - the second red candle).
Bom bom....I dont recall reading anything about the ema...
Hi Dean...
Actually I don't take the 5EMA into account when first time learning this strategy. but later, I've read in this thread (recently I think, about 10 pages back?), a senior of this strategy also take the 5EMA into consideration. May be for perfect setup, all the indicators might line up, so I take this 5 EMA into account. I will try to find the post about this later, then I'll inform you.

Quoting dean
2 scoops and bom bom. Post 770 is the answers I got from eelfranz regarding enbtering trades. Please dont think I am criticising you 2scoops, I am just trying to make sure I am interpreting it correctly, as I said, I may be totally incorrect and happy to be told so. We all need to be looking at the right signals if we are to succeed I reckon.
this is the question that made me wonder during the whole saturday night, whether to wait the candle close, and then open on the next candle, or just enter when we see a cross on 5 GMT & 9 GMT ( I don't take 13 GMT as an opening time to trade as Eelfranz mentioned that on this time, it is time to close all open orders). Eelfranz said about momentum, that's why he said 'Just enter when we see a cross, no need to wait it close because we could possibly lose the momentum'.

Best Regards,
Bom2
  • #854
  • May 2, 2011 12:57am May 2, 2011 12:57am
Quoting dean
2 scoops and bom bom. Post 770 is the answers I got from eelfranz regarding enbtering trades. Please dont think I am criticising you 2scoops, I am just trying to make sure I am interpreting it correctly, as I said, I may be totally incorrect and happy to be told so. We all need to be looking at the right signals if we are to succeed I reckon.
I agree with the both of you, I simply didn't have the benefit of watching the pair before the candle formed (up slightly late). So your both right.

I'm still a learner too, although I try to help here and there where I feel I can.
  • #855
  • May 2, 2011 12:59am May 2, 2011 12:59am
I am in PST zone (11 PM) and using Oanda MT4 demo platform. Have this trade and going to bed. Will see in the morning, how it did.
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  • #856
  • May 2, 2011 1:05am May 2, 2011 1:05am
bom bom. If there are ways to seek perfect set ups I am happy to hear them. I must have missed that post so it would be greatly appreciated if you could find it. I entered the G/U trade...and same as you...down 20 pips !!! damn it!! actually now down 30!! This is where I have trouble...do we hang in there?? or get out?
  • #857
  • May 2, 2011 1:10am May 2, 2011 1:10am
Bank holiday today in the UK, be cautious folks
  • #858
  • May 2, 2011 1:15am May 2, 2011 1:15am
Quoting dean
bom bom. If there are ways to seek perfect set ups I am happy to hear them. I must have missed that post so it would be greatly appreciated if you could find it. I entered the G/U trade...and same as you...down 20 pips !!! damn it!! actually now down 30!! This is where I have trouble...do we hang in there?? or get out?
Just hang in dean... until we see new candle on 9 GMT.
Just think like Eelfranz does (The way he threat his trades, not the way he trades -- as he's already King of Broker's Robbery now -- LOL, sorry E!)
Set and pretend you sleep, then you'll wake up on 9 GMT to check.
Loss is part of the game, we must try to accept it, as long as we do it correctly. I'm also waiting for the seniors to judge my trade, so if I'm wrong, I can fix my mistake in the future
BTW, you're doing this on demo account, aren't you?

Quoting 2scoops
Bank holiday today in the UK, be cautious folks
Good warning, 2scoops. thanks!

Best Regards,
Bom2
  • #859
  • May 2, 2011 1:28am May 2, 2011 1:28am
I dont know which candle will be 9 GMT?? all I know is this current candle has 2 hours and 33 minutes before a new one opens. Is this the candle you mean??
NO I have an actual trade on this bom bom, as to me it looked like an ideal set up. Pretty disappointed at the moment. It seems every trade I place goes the opposite way. I am very disillusioned and disappointed to be honest.
  • #860
  • May 2, 2011 1:53am May 2, 2011 1:53am
Quoting wickedwin
Yellow would be my entry, blue my exit... please advice (I dont understand the stoch & 50, 32 n 68 lines yet)

Is there a way to get delayed data in MT4? So I can practice with "moving" data instead of "static" data when the market is closed?
Wickedwin I've marked up two examples on your chart, the first one (the circles) is a trade on a TDI cross and the second (the rectangles) is a bounce trade.

You would enter on the blue circled candle (the first one) it looks to me on your picture that TDI had crossed (just!) on candle one. Great angle on the TDI, we can't see stochastics on your chart but we'll assume there is confirmation from stochastics too.

On the red circle you would exit, on candle six of the move on the formation of that weak blue candle and the hook down of the TDI. On the blue rectangle you can see a bounce trade (candle 9), strong candle and green line bounces of the red at a good angle (again we assume stochastics is in confirmation). You would then exit the bounce trade on the last blue candle 13 (the red rectangle) the green line has gone flat and we have a weak small blue candle.


Not sure on your MT4 question, can any MT4 experts help Wickedwin?
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