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Trading Made Simple

  • #2,321
  • May 12, 2011 3:54am May 12, 2011 3:54am
Closed E/C trade for BE as TDI flattening out on 1 H chart.

SR
  • #2,322
  • May 12, 2011 3:56am May 12, 2011 3:56am
Traded 15 min for long time. Dam hard work. Took that trade out of boredom.
  • #2,323
  • May 12, 2011 4:08am May 12, 2011 4:08am
Nice GBP/CHF trade cooking.... took 30 pips out on first position. Letting the other position ride from breakeven.
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  • #2,324
  • May 12, 2011 4:09am May 12, 2011 4:09am
it's magic ... I do not understand .... probably is not my day ... or I do not get enough sleep ... probably need to go to sleep until the next day ...
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  • #2,325
  • May 12, 2011 4:10am May 12, 2011 4:10am
I,m in for a qick ten pips .......................maybe
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  • #2,326
  • May 12, 2011 4:24am May 12, 2011 4:24am
Quoting dean
I,m in for a qick ten pips .......................maybe
Out now for 21.4 pips
  • #2,327
  • May 12, 2011 4:25am May 12, 2011 4:25am
Here's my result, following the simple basic rules by BigE on the H1 charts.
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  • #2,328
  • May 12, 2011 4:39am May 12, 2011 4:39am
Congratulations Gerald - great trading. I dont see many people on other threads posting results like this - or even posting results at all. Some big wins on the H1 and your stops (and risk therefore) were presumably smaller than you would use on the H4. Good R;R.
  • #2,329
  • May 12, 2011 4:47am May 12, 2011 4:47am
in again
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  • #2,330
  • May 12, 2011 4:47am May 12, 2011 4:47am
Quoting GeraldFX
Here's my result, following the simple basic rules by BigE on the H1 charts.
Nice work, can I ask if this is demo?
  • #2,331
  • May 12, 2011 4:52am May 12, 2011 4:52am
Quoting nhen
Matt can I ask if you're watching the US index, gold etc to judge whether we are risk on or risk off? Or you have a particular way of determining this
Maybe not the forum to respond to what I believe is a rather subjective topic. I will say here that Gold moves inversely to the USD - we all know that. It's priced in USD after all. Is it necessarily a good indicator for Risk Off / Risk Aversion / Flights to Safety? I think not. Does it have value as an indicator of these? Depends upon your assessment as to whether the USD is or remains a "Safe Haven" currency. Look, a whole can of worms!

Also, Dollar Index I don't watch. No particular reason, just don't. I have enough charts open at any given time to determine (rightly or wrongly) what I think the USD is doing across the board, and the merit of the weightings within the Dollar Index mean little to me. It's just another squiggly line so far as it applies to my daily decision making.

Will PM.
  • #2,332
  • May 12, 2011 4:59am May 12, 2011 4:59am
.78459 just got hit.
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  • #2,333
  • May 12, 2011 5:06am May 12, 2011 5:06am
Quoting dean
Hi all,
THis method is new to me, so this week I cut my trade size down to mini lots and decided to massively overtrade to get my eye and brain accustomed to the correct signals and its working. Even if a lost all 20 trades I would have only been down a couple of hundred...and Eelfranz and the senior guys...yes I deliberately overtraded and I will for the next few weeks to try and get myself accustomed to it naturally.
Good thing is....I got 14 out of the 20 trades correct for a profit of 121 pips. So more of this and I should be able to hone...
Good document Deano. Clear and concise.
  • #2,334
  • May 12, 2011 5:10am May 12, 2011 5:10am
Quoting GeraldFX
Here's my result, following the simple basic rules by BigE on the H1 charts.
I learnt from your chat that you really follow major daily/weekly trends. thats nice results
We Win Some, We Loose Some, But Let your Win Rates be More to be Successful
  • #2,335
  • May 12, 2011 5:12am May 12, 2011 5:12am
Toey are you in on this?? I got in at 1.4163 on the hourly but now it looks as if it could be a 4 hourly bounce trade if it keeps heading this way stoch looks exhausted on the 4 hourly though. I just cant see any suport levels close by...have to look at round numbers....can anybody see anything??
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  • #2,336
  • May 12, 2011 5:13am May 12, 2011 5:13am
Quoting mackaozy
Good document Deano. Clear and concise.
cheers mate.....
  • #2,337
  • May 12, 2011 5:18am May 12, 2011 5:18am
Quoting KumoDragon
It's hard to judge just from past charts, but it looks to me that on most of those you entered on a weak candle......wick on both sides and relatively small. Strong for a short would be no wick on top, relatively large and the wick pointing down

Also, on the first you were trading against the dominate trend. Which you can make some pips that way if the retrace is good, but going with the dominate trend helps trade ALOT.

Those look like 2 HR charts. This thread says, "any time frame," but IMO, no thats kinda BS. The big boss man of the thread...
KumoDragon,
Appreciate much your sharing the way you go about timing your trade. What you said about HA candles is enlightening. Need to do more research on it. I shorted the AudUsd at 1:20am, 4h, 1h 5m all going the same direction with TDI bouncing off on the daily chart. So far so good at the time I write this. A quick picture…
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  • #2,338
  • May 12, 2011 5:20am May 12, 2011 5:20am
Quoting dean
Toey are you in on this?? I got in at 1.4163 on the hourly but now it looks as if it could be a 4 hourly bounce trade if it keeps heading this way stoch looks exhausted on the 4 hourly though. I just cant see any suport levels close by...have to look at round numbers....can anybody see anything??
Dean do you use trailing stop..if you do how much and how do you determine it?

Also how do you place TP?

Cheers
  • #2,339
  • May 12, 2011 5:28am May 12, 2011 5:28am
Quoting dean
Toey are you in on this?? I got in at 1.4163 on the hourly but now it looks as if it could be a 4 hourly bounce trade if it keeps heading this way stoch looks exhausted on the 4 hourly though. I just cant see any suport levels close by...have to look at round numbers....can anybody see anything??
Nah, missed this. I don't hate it, but might have missed the train. Nice little bounce on the 4H, yeah, and you know price can move quite a bit with -20 reading on stoch. Quick looksee and I notice it's sitting right atop significant support level from early November last year. Just sayin'.

Also, 1H candle forming a pin bar off daily S2 (Fibo Piv) FWIW. Still, it's only 20min into the hour. Things will change.

Good luck with it . Me, I need to clear my head. Can't make heads or tails of things at the moment. Still at least another six hours in my trading day, so I'd better freshen up for the action later.
  • #2,340
  • May 12, 2011 5:31am May 12, 2011 5:31am
BRN and support at 1.4000..Looking exhausted but forecast are bearish.
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