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Trading Made Simple

  • #1,301
  • May 4, 2011 5:22am May 4, 2011 5:22am
Quoting dean
2scoops, please dont think I was having a go at you. I want and NEED you guys to assess my trades as this is new to me, so very happy for your criticisms and assessments. As someone mentioned earlier, its more important we learn the trades to stay OUT of so keep it up
An issue regarding the TDI which was bought up a few posts back. I have been watching it on the one minute chart for the last few minutes and I cant see the green line change shape until the candle closes. I think it was Komo disagreeing with this, and I could be wrong but I cant...
No worries Dean, I think you were dead right to highlight that trade, all the 5 method rules were met, the forex basics were looking good, just personal preference really on whether your bothered about the daily trend.
  • #1,302
  • May 4, 2011 5:23am May 4, 2011 5:23am
Quoting macbow
Would appreciate any education by the more accomplished traders here if these trades are not good trades. It is one thing to follow the basic rules, but it is the discretion part that must really be understood I think... Learning the "perfect set-ups" to walk away from!

Thanks.
Hello to all from Vilas.

My first post here - I have followed other Gods - although these ideas were part of repertoire ! Thanks to some seniors, have got the hang of this, I think. So, here is MO !

Your set ups seem to have followed the principles but if you were to post the levels at which you bought or sold, it would become easier for other members to follow and be informed if they have worked or not and comment accordingly.

That is my 2 Cents ! Good Luck to all !
  • #1,303
  • May 4, 2011 5:24am May 4, 2011 5:24am
Quoting NoJobRob
What do you mean?
Instead of right mouse -> refresh in the graph, an auto refresh every X seconds.
  • #1,304
  • May 4, 2011 5:29am May 4, 2011 5:29am
Quoting wickedwin
Instead of right mouse -> refresh in the graph, an auto refresh every X seconds.
Are you using MT4? I don't see that option.
Get money, don't let money get you. @kauaiforex
  • #1,305
  • May 4, 2011 5:45am May 4, 2011 5:45am
This is where learning on small time frame charts really plays with my head. How much leeway do we give these 4 hour trades?? As you can see the trade I have on is currently going backwards....I am soooo used to jumping out at the first sign of major reversal that I am confused out how much of a chance we give these?? Any ideas? Still 2 hours left on this candle. TDI and stochs still look good...PA not so good
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  • #1,306
  • May 4, 2011 5:45am May 4, 2011 5:45am
Quoting NoJobRob
Are you using MT4? I don't see that option.
Yes, try right clicking in the upper graph.

Shitty trade (stoch wasn't red at the moment of the trade); any explanation?
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  • #1,307
  • May 4, 2011 5:47am May 4, 2011 5:47am
Hi Big E,
if you got into a trade and within 15 minutes you are down 20pips, what would you do? (based on 4hr chart entry)
  • #1,308
  • May 4, 2011 5:50am May 4, 2011 5:50am
Wickedwin!!! thats a fantastic discovery!! This should be part of the rules. Refresh your chart as often as you can....I just tested it on the charts I hadnt been on sonce the candles opened two hours ago and the green TDI line moved on all of them.....this could make a HUGE difference on the entry.....esepcially if trying to get in on the first candle.....also great help mid trade for close outs or to decide to stay in. Everybody needs to know this.
  • #1,309
  • May 4, 2011 5:58am May 4, 2011 5:58am
Quoting dean
This is where learning on small time frame charts really plays with my head. How much leeway do we give these 4 hour trades?? As you can see the trade I have on is currently going backwards....I am soooo used to jumping out at the first sign of major reversal that I am confused out how much of a chance we give these?? Any ideas? Still 2 hours left on this candle. TDI and stochs still look good...PA not so good
Mate, have some patience. Market don't just move one direction upon entry. PA may not look good now, but what if it looks good 2 hours later? That is why I believe BigE trades the bigger timeframe, which is to enter market and only check it every 4 hour / 1 hour. If you keep on looking at the screen, that is where many mistakes will be made. Why not go get a coffee? Be assured that the trade will be all right as long you have a good stop loss.

Again, trade management.
  • #1,310
  • May 4, 2011 5:58am May 4, 2011 5:58am
Hi Guys,

I found a nice setup,

Mfinab,
http://my.jetscreenshot.com/4229/201...vlyy-548kb.jpg
  • #1,311
  • May 4, 2011 6:06am May 4, 2011 6:06am
Wicked if you discover a way to autofresh our charts I think everyone would appreciate it. That way we could monitor the TDI position exactly.
  • #1,312
  • Edited 6:20am May 4, 2011 6:08am | Edited 6:20am
Quoting mfinab
Hi Guys,

I found a nice setup,

Mfinab,
http://my.jetscreenshot.com/4229/201...vlyy-548kb.jpg
It looks good, a bounce off a support area, 5 method rules met, - the only worry would be the weakness of that last reversal and its against the trend on the daily, although the weekly/monthly looks like its in a uptrend. Wouldn't you be late into the trade though its already crossed according to your chart and your 64 minutes away from the candle end?

Also the setup candle could be stronger
  • #1,313
  • May 4, 2011 6:09am May 4, 2011 6:09am
Why do we need an autorefresh?

If i am trading the H4, i only see the chart at the new H4 candle. By then, it will be updated already
  • #1,314
  • May 4, 2011 6:15am May 4, 2011 6:15am
Hey Dean, go for a drive and enjoy the beautiful harbour. Come back in 2 hours and make a decision. This is Trading Made Simple not Trading Made Difficult/Complicated. Take a deep breath. Be accountable for your own trades. Have a plan and follow it through. It's really the simplest thing to do.

Come on. You can do it. At the very least do it for Big E's sanity!
  • #1,315
  • May 4, 2011 6:18am May 4, 2011 6:18am
Because if you put a trade on and dont touch your computer and just leave the chart open for say the first hour of the candle and then manually refresh the chart by right clicking and pressing refresh...you will see the green line on the TDI move.....it could move in your favour or it could flatten which warns you that something could be happening..I feel this is pretty important. Try it. click on to a chart you havent been on for a while and refresh it...I did it with mine and most of them moved...some to such a large degree that it would have signalled an exit if a trade was on.
  • #1,316
  • May 4, 2011 6:21am May 4, 2011 6:21am
Quoting 2scoops
It looks good, a bounce off a support area, 5 method rules met, - the only worry would be the weakness of that last reversal and its against the trend on the daily, although the weekly/monthly looks like its in a uptrend. Wouldn't you be late into the trade though its already crossed according to your chart and your 64 minutes away from the candle end?

Also the setup candle could be stronger
Hi 2scoops,
Thanks for your comment! I don't know if it is late or not.

BigE can you answer to that question? Have I entered this trade too late ?

Thanks,
Mfinab,
  • #1,317
  • May 4, 2011 6:25am May 4, 2011 6:25am
Quoting mfinab
Hi 2scoops,
Thanks for your comment! I don't know if it is late or not.

BigE can you answer to that question? Have I entered this trade too late ?

Thanks,
Mfinab,
If you know when your 4HR candles form, then just compare it with the timestamp on your trade, did you enter just after the candle formed and you saw the cross?
  • #1,318
  • May 4, 2011 6:27am May 4, 2011 6:27am
Quoting 2scoops
If you know when your 4HR candles form, then just compare it with the timestamp on your trade, did you enter just after the candle formed and you saw the cross?
2scoops,

I have entered at the same time I posted to this forum, so not from the beginning of the candle formation.

Mfinab,
  • #1,319
  • May 4, 2011 6:27am May 4, 2011 6:27am
whats the general consistancy on this strategy does it atleast give 60% win 40% loss , I have not yet tested this but am looking for some feedbacks from traders who have had a go at it thnx
  • #1,320
  • May 4, 2011 6:29am May 4, 2011 6:29am
Quoting mfinab
2scoops,

I have entered at the same time I posted to this forum, so not from the beginning of the candle formation.

Mfinab,
if all the 5 method rules are met and your happy with the forex basics then you enter as soon as the new 4HR candle has formed, your into the trade late - thats not to say it wont work out for you, BigE has explained it just reduces the probability of success.
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