One thing I would be careful about is the that the stoch is already down at the 20 line. It may be at the end of its run real soon. I'm not saying don't take the trade, but I'd be watching it like a hawk.
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Yes I agree, but I asked Ellfranz, a while back, about after it crosses the 20 and 80......
On the Stoch's... if the line is outside the 20-80 lines... I completely ignore it...
Yes I agree, but I asked Ellfranz, a while back, about after it crosses the 20 and 80......
On the Stoch's... if the line is outside the 20-80 lines... I completely ignore it...
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Oh, please don't get me wrong, like I said, I wouldn't let that fact alone discourage a person from taking the trade. There is definitely the chance it could be taking another run at .8600 level. I'm just saying I'd watch it close.
Yep the candles are numbered after the colour change or reversal. See post 949 to confirm. I asked this earlier as there seemd to be confusion about what is candle 1.
Candle 1 is the first candle that has change colour or reversed. CHeck for candle colour change then check tdi for cross.
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thanks for this post I think I have been getting this wrong .
so we go long on the first two blue / up candles if the TDI crosses up. if there are three or more blue candles and then a TDI cross no trade?
we do not count candle from the TDI cross only the change from red to blue for long.?
I am seeing the G/U as a daily long entry. Does anybody see anything that I haven't? TDI & stochs line up & as an added bonus it closed above the MA. Thanks in advance for any input.
can you guys comment on how i'm using the system? I use the 4H and daily charts primarily
I let the trades ride and not automatically take profit once I'm up 10-30 pips. I feel doing so skews the risk:rewards of the system for the 4H. I think taking small profits using a 4H chart would be wrong, but I see a lot of traders taking small profits or are these for the smaller time frames?.
As an example, I shorted eu 12am at 1.4157 est but had to close it at 8am est for a small loss at 1.4180. I was up around 40pips at a certain point but it wasn't how I planned the trade:
On the EUR trade:
Stop loss - I put my stop on the high of the first blue candle, on yesterday's trade this was at 1.4110
Take profit - I let my stop determine my take profit and since my risk was 50pips, I put a half tp at 1.4100. The half would have a discretionary stop (perhaps determined by a TDI cross).
I can't seem to post attachments yet soprry about that
can you guys comment on how i'm using the system? I use the 4H and daily charts primarily
I let the trades ride and not automatically take profit once I'm up 10-30 pips. I feel doing so skews the risk:rewards of the system for the 4H. I think taking small profits using a 4H chart would be wrong, but I see a lot of traders taking small profits or are these for the smaller time frames?.
As an example, I shorted eu 12am...
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Good to see someone else using the higher T/Fs.
TPs and S/Ls are such a subjective thing, and I havnt mastered it yet either. Good luck anyway.
hi, i did the same thing on us/cad last night. i was up 44 pips and had things to do and when checked back was stopped out at -22 pips.
things change quickly and the greed warps your mind, always thinking you can make more and end up losing. evo
can you guys comment on how i'm using the system? I use the 4H and daily charts primarily
I let the trades ride and not automatically take profit once I'm up 10-30 pips. I feel doing so skews the risk:rewards of the system for the 4H. I think taking small profits using a 4H chart would be wrong, but I see a lot of traders taking small profits or are these for the smaller time frames?.
As an example, I shorted eu 12am at 1.4157 est but had to close it at 8am est for a small loss at 1.4180. I was up around 40pips at a certain point but it wasn't...
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Ok...I think the ones here taking smaller profits are (like me) using the one hour charts. But BigE the thread starter and developer of this method uses the 4 hour charts....not becasue he prefers it but because his preferred session of London is open when he is sleeping. So due to that fact, when he puts a trade on, he puts it on because he is confident that he has checked all the signals including the forex basics SR etc etc and he fully expects to wake up to see at least 3 to 8 candles or over 100 pips. So he places his trrade on the first ( or second candle), goes to sleep, sets his alarm and wakes to monitor his trade at the opening of the next 4 hour candle. If the tdi tweaks when this candle open he checks his PA and all other signals and if it all looks ok he lets it ride another four hours....if the tdi is flat or hooked up he exits. If his PA has pulled bacl 15 odd pips and PA looks weak...he exits...its a judegement call, but basically on the 4 hour charts his exits are determined primarily by the tdi behaviour and a check of your PA...exiting is up to you really. ANd yes he puts the SL onthe high of the swing hight just prior (if shorting)
I was wondering about that too. I thought part of the reason for trading the longer time frames was to catch longer runs & not have to watch.
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Yes, if you're going to take 20pips on the 4HR, you might as well trade the 15min with a fixed TP and up your frequency.
Waiting for 4HR setups almost necessitates either much higher fixed TP's, or a lot of slack with a trailing stop, and a technical TP (such as flattening or turn on the TDI) so as to capture that large movement.
The "not having to monitor" trades is a massive advantage of higher TF's - something I'm trying to wrap my head around. I'm a "watcher".
