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  • #1,041
  • May 2, 2011 7:33pm May 2, 2011 7:33pm
short entered just now. TDI green crossing down from 68 levels, stoch also in agreement. stoploss is high of those prev 3 candles. only concern is its against the trend. since its D1, i am ready for ups and downs
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  • #1,042
  • May 2, 2011 7:35pm May 2, 2011 7:35pm
Dean...

Your wearing me out... no matter how I explain it you don't get it.

Please some other thread members jump in to answer Deans questions on pages 69-70. Thanks

Read post 1039 again...
  • #1,043
  • May 2, 2011 7:46pm May 2, 2011 7:46pm
Quoting dean
eelfranz, this is where my confusion lies. You say yes you would enter, but that first candle might be say 2 hours old??? See I am unsure as to entry times precisely. My interpretation is that you only enter trades on a brand new candle, but if you were to enter on the first candle in that chart it might be 2 hours old.
Am I making sense?? Can you see where I am getting confused?
Thank you
Dean,

You only enter at the upon new candle because even thou the TDI may look crossing and there is another 1hour 30mins to closing of that particular candle, anything can happen in that 1hour 30mins. What if market suddenly drop even more and you will begin to see that the TDI may not be crossing? Therefore, you only enter upon new candle.

Any probably you may ask this next question: and if upon new candle with TDI crossed and your stop loss is huge, then don't trade it and look for another setup. Market is open 24 hours and we can trade as long it looks promising. This is call trade and money management.

Hope this answer can help you.
  • #1,044
  • May 2, 2011 7:46pm May 2, 2011 7:46pm
Quoting dean
Really really sorry but I have to ask this to confirm for good.
I woke up this morning (I am in Aus) and jsut had a quick look through my charts to look for setups and pretty much train my brain to get familiar with what it is I am looking for. It is 10am here and the Sydney and Tokyo sessions are open so I know its the wrong time of day. But lets forget that for a minute and pretend it was the London session and time to trade.
In this chart I see what looks to me an excellent setup.Tdi has crossed. TDI and stochs at the right angle. last upward...
Dean before we go any farther I need to know something. Are you trading demo or live?
Could it be Man is trying to be something without knowing they're complete?
  • #1,045
  • May 2, 2011 7:47pm May 2, 2011 7:47pm
Quoting eelfranz

My chart for some reason is slightly different to yours. My tdi green has not crossed the red but yours has??? anyone know why?? +++ Different Broker...
Maybe weekend candles does affect the indicator?
  • #1,046
  • May 2, 2011 7:49pm May 2, 2011 7:49pm
Quoting dean
eelfranz, this is where my confusion lies. You say yes you would enter, but that first candle might be say 2 hours old??? See I am unsure as to entry times precisely. My interpretation is that you only enter trades on a brand new candle, but if you were to enter on the first candle in that chart it might be 2 hours old.
Am I making sense?? Can you see where I am getting confused?
Thank you
Let's say a 4 hour candle just closed and it presented a cross on the TDI. Since the TDI is crossed you enter on that new candle, candle 1. If you miss getting in on the open of the candle, just get in. It doesn't matter if it's 2 hours old, 3 hours old, just get in, provided price action is still telling you that the trade is a good idea. You haven't missed the candle until it closes. Think of the candle as a 4 hour window of opportunity to get in on the first candle.
Get money, don't let money get you. @kauaiforex
  • #1,047
  • Edited 7:59pm May 2, 2011 7:49pm | Edited 7:59pm
RoundRock

TDI & Stitch's look good...

HOWEVER YOUR IN A STRONG UPTREND AND YOUR LAST SHORT REVERSAL WAS ONLY 1 CANDLE AND THE ONE BEFORE THAT WAS ONLY 2 CANDLES...

I would have waited for the long entry...
  • #1,048
  • May 2, 2011 7:55pm May 2, 2011 7:55pm
eelfranz,
Again I apologise and I dont want to upset or anger you so yes maybe if someone else could help me out.
eelfranz rules:
Entries and exits...
We Enter a trade when green crosses red on the TDI at the beginning of that candle

Talking 4 hour candles here.
My question is....for entry....what is considered "the beginning" of a candle?? is it the opening?? If a candle that is 2 hours old still considered the beginning?? Basically....can I enter a trade at any stage of a candle as long as the tdi green has crossed and it is no more than the 2nd candle?
  • #1,049
  • May 2, 2011 7:57pm May 2, 2011 7:57pm

short entered just now

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  • #1,050
  • May 2, 2011 7:57pm May 2, 2011 7:57pm
Quoting dean
Hi eelfranz,
In post 955 you say there is no setup on candle one yet. Is this becasue the green hadnt quite crossed the red on the tdi??
and lets say it had crossed...would you enter a trade on that first candle?
Really sorry to harp on thsi point eelfranz I just havent quite got it clear in my head.
Thank you
Dean
Dean the rules are real simple.

1. Green must CROSS red. Green on the other side of red.
2. Angle of green must be 2 or 4 0'clock, flat is no go.
3. When you see that cross there will be a candle.
4. If that candle is the right color you can enter.
5. The candle can only be the first or second candle. (So, for instance if you see a cross long, count the blue candles. If you only count one or two it's a go, any more and don't bother)
6. You enter at the start of the candle.
7. check the stochastics for confirmation of direction.
8. check the how strong the average candle is, to help avoid ranging markets.

P.S. go through the thread and look at trade examples it will become clear.
P.P.S. there is also a video for how to read the price action of the averaged candles strenght you should watch it.
  • #1,051
  • May 2, 2011 8:03pm May 2, 2011 8:03pm
Here the link to the video (how to read the price action )
http://www.compassfx.com/video/flash/22108/22108.html
  • #1,052
  • May 2, 2011 8:05pm May 2, 2011 8:05pm
Quoting eelfranz
RoundRock

TDI & Stitch's look good...

HOWEVER YOUR IN A STRONG UPTREND AND YOUR LAST SHORT REVERSAL WAS ONLY 1 CANDLE AND THE ONE BEFORE THAT WAS ONLY 2 CANDLES...

I would have waited for the long entry...
thanks big e for the reply. true its always better to enter in same direction as trend, that too on long term like D1. I will closely manage the trade and try to get out with small pips (if i can)
  • #1,053
  • May 2, 2011 8:06pm May 2, 2011 8:06pm
Please forgive me all of you, I dont mean to test your patience or anger you, I just need this clear in m mind. I understand the other signals to look for and the trend direction etc etc , but if I dont know my entry point I am lost.
Numbers - live account
nojobrob - I completely understand that 4 hour window of opportunity explanantion and thank you and if eelfranz wouldnt mind confirming this I would be grateful.
My only problem with this is eelfranz entry rules as follows which suggests to me he only places trades at new candle openings:

We Enter a trade when green crosses red on the TDI at the beginning of that candle

I just glance at the TDI for set ups when the new candle opens

On a 4hr candle... if there is a pullback it generally starts between hour 3... and 4...so you have lost most of the momentum on that candle when entering late...beware

Check your charts when the new 4hr candles just appear
  • #1,054
  • May 2, 2011 8:06pm May 2, 2011 8:06pm
Quoting dean
eelfranz,
Again I apologise and I dont want to upset or anger you so yes maybe if someone else could help me out.
eelfranz rules:
Entries and exits...
We Enter a trade when green crosses red on the TDI at the beginning of that candle

Talking 4 hour candles here.
[font=Arial][size=3][color=black]My...
Yes, it's the very opening of the candle. The idea is you catch the momentum. Wait to long, even on the first candle and you can miss out of pips and the best entry spot.

The only times I would wait past the opening of the candle if price is up against resistance or round number and want to see if it will pass before entry, or if red news is coming out it's good to wait until a few minutes after.

If the candle is two hours old, it's a judgment call. Does it still look good? Is the candle already moved a whole lot of pips and retracement is likely before any continuation?

Best entry is right at the start of candle 1 or 2 to catch momentum.

No one has mentioned this, but IMO this also serves as a good way to keep from over trading because if you only enter at the start of a 4H candle, you won't be jumping in and out willy nilly. (which can be very bad for your account)

You judge exits (or if you should stay in) by the condition of the green TD on the open of each consecutive candle. NOT in between candles. So, it lends consistency.
  • #1,055
  • May 2, 2011 8:06pm May 2, 2011 8:06pm
hey dean man i think your trying to make the system way to set in stone. there are rules to follow yes but it doesnt mean you must be following them to the exact words as the original poster has said. it takes some judgement and experience to see how much the price may move on the way the candles look (eg their size) and where the price is (s/r/major lines). personally if i was you just dont concentrate only on the 4 hour charts alone. try and get an idea of where and how the price has been moving to determine if the entry is good. just remember that the 4 hour bars are just made up of the smaller time frames.PRACTICE PRACTICE PRACTICE
josh
nollej is power..
  • #1,056
  • May 2, 2011 8:06pm May 2, 2011 8:06pm
Dean...

Talking 4 hour candles here.
My question is....for entry....what is considered "the beginning" of a candle?? is it the opening?? Yes

If a candle that is 2 hours old still considered the beginning?? No

Basically....can I enter a trade at any stage of a candle as long as the tdi green has crossed and it is no more than the 2nd candle? Yes but your odds are lower...

nojobrob - I completely understand that 4 hour window of opportunity explanantion and thank you and if eelfranz wouldnt mind confirming this I would be grateful.++++ Confirmed...
  • #1,057
  • May 2, 2011 8:13pm May 2, 2011 8:13pm
Thanks eelfranz, I will stick with trading only the new candle openings.
  • #1,058
  • May 2, 2011 8:16pm May 2, 2011 8:16pm
assuming the current candle closes with green crossing down red, do you go short ?

pro : as per trend, stoch in agreement, tdi angle good

cons : looks like a ranging market. support is near, so target will be less
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  • #1,059
  • May 2, 2011 8:18pm May 2, 2011 8:18pm
Quoting dean
Please forgive me all of you, I dont mean to test your patience or anger you, I just need this clear in m mind. I understand the other signals to look for and the trend direction etc etc , but if I dont know my entry point I am lost.
Numbers - live account
nojobrob - I completely understand that 4 hour window of opportunity explanantion and thank you and if eelfranz wouldnt mind confirming this I would be grateful.
My only problem with this is eelfranz entry rules as follows which suggests to me he only places trades at new candle openings:...
Dean I want you to trade demo until you know for sure what you are doing.

Take a step back study it all take lots and lots of demo trades. Once you have done plenty of practice trading you will know when its time to go live.

I have your interest at heart. I don't think your ready to be live yet.

hope you understand. We got your back.
Could it be Man is trying to be something without knowing they're complete?
  • #1,060
  • May 2, 2011 8:21pm May 2, 2011 8:21pm
My trade this morning at 7am... hour chart... 2 full lots... Candle 2 started pulling back so I Exited... 53 pips profit...
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