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Trading Made Simple

  • #3,921
  • May 25, 2011 10:48pm May 25, 2011 10:48pm
Quoting babnz48
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.?

thanks
yep thats correct. I have found an example for you. I know the tdi is at a bad angle but this is just to show you what I mean. See how the tdi has not crossed unti the 3rd blue candle...this means no trade. So I gues the first thing you look for is a candle colour change on your chart. Look at the strength of the candle and look at your tdi and see if it has crossed.
Candle 1 is the first candle of changed colour (the first reversal candle)
Attached Image (click to enlarge)
Click to Enlarge Name: chart.JPG Size: 105 KB
  • #3,922
  • May 25, 2011 10:49pm May 25, 2011 10:49pm
Quoting Chillypiper
It will be a good short if it brakes 8710 support to confirm the H&S..
Cheers!
Sell Order filled...Look out below.................
  • #3,923
  • May 25, 2011 10:50pm May 25, 2011 10:50pm
Quoting ToeCutter
Yes, if you're going to take 20pips on the 4HR, you might as well trade the 15min 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 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".
I am too and I hate myself for it....I want desparately to get away from watching the trade. I am struggling badly to wrap my head around it to be honest.
  • #3,924
  • May 25, 2011 10:52pm May 25, 2011 10:52pm
Quoting ToeCutter
Yes, if you're going to take 20pips on the 4HR, you might as well trade the 15min 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 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".
I got to disagree with you a little. If you trade it on the 15, the same mental process that made you close the 4hr with 20 pips will make you close the 15min with only a couple pips.

Hang in there. Try to not let a profit go to a negative, thus you get a lot of small winners. Don't worry, every now and then, you catch a monster that goes and goes.

Shake
  • #3,925
  • May 25, 2011 11:02pm May 25, 2011 11:02pm
Quoting dean
I am too and I hate myself for it....I want desparately to get away from watching the trade. I am struggling badly to wrap my head around it to be honest.
Apparently E found a consistency that is rarely found in forex. Opening the 4 hour over night with a good signal, ignoring it for 4 hours, checking, then closing after another 4 hours.

For some strange reason, the right signal, and this time of day are working together to be consistent.

I traded it 3 nights last week, and have only been able to trade it one night (the early european session is overnight where I am)

Last week night one 160 pips
night two -60 to 70
night three 60

This week monday night around 80
tues night, no signal that made me happy.

Don't worry, you'll have plenty of losers, sometimes a couple in a row. Eventually, the winners will overtake the losers, I think.

Shake
  • #3,926
  • May 25, 2011 11:06pm May 25, 2011 11:06pm
Quoting Beshakey
I got to disagree with you a little. If you trade it on the 15, the same mental process that made you close the 4hr with 20 pips will make you close the 15min with only a couple pips.

Hang in there. Try to not let a profit go to a negative, thus you get a lot of small winners. Don't worry, every now and then, you catch a monster that goes and goes.

Shake
Yes ! And 20 pips is 20 pips. Thats the turning point for me I think. Will you take profit..Yes, at 15 min. but at 4hr I'll still take it buy moving my SL ( If I'm watching ). I like to be behind the last wave. No mater what TF if I can and If I wrong atleast i have my pips.

The trick is getting passed the first wave and in the trend....Or get out IMO
  • #3,927
  • May 25, 2011 11:11pm May 25, 2011 11:11pm
I found an overnight 4hr signal on the EG and AU. I took a pic of them, we'll see how they go. I'll take another pic in overnight after 4 hrs, and when I close. Maybe winners, maybe losers.

By the way, my 4 hr (ibfx) opens 1 hour earlier than E's (Fxdd) Still, it has worked so far.

Shakey
  • #3,928
  • May 25, 2011 11:12pm May 25, 2011 11:12pm
Quoting Chillypiper
Yes ! And 20 pips is 20 pips. Thats the turning point for me I think. Will you take profit..Yes, at 15 min. but at 4hr I'll still take it buy moving my SL ( If I'm watching ). I like to be behind the last wave. No mater what TF if I can and If I wrong atleast i have my pips.

The trick is getting passed the first wave and in the trend....Or get out IMO
  • #3,929
  • May 25, 2011 11:21pm May 25, 2011 11:21pm
Quoting Beshakey
I found an overnight 4hr signal on the EG and AU. I took a pic of them, we'll see how they go. I'll take another pic in overnight after 4 hrs, and when I close. Maybe winners, maybe losers.

By the way, my 4 hr (ibfx) opens 1 hour earlier than E's (Fxdd) Still, it has worked so far.

Shakey
Interesting. I had to go down to 30min on both pair to even get a weak sig..
Good luck, I'm on FXDD, as you said and they don't even look close at 4hr and not at 30 either...... Post a chart and lets see
  • #3,930
  • May 25, 2011 11:40pm May 25, 2011 11:40pm
I have to agree, one of the most difficult things for me is to stop watching and let the trade do its thing, more often than not the winners easily outdo the losers. i do however set a training stop once i am in over 40 pips. i am in this trade and am going to try to not view, i have set an alert when the trade goes to 40 pips and at that point i will evaluate.
Attached Image (click to enlarge)
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  • #3,931
  • May 25, 2011 11:50pm May 25, 2011 11:50pm
Quoting davlo
I have to agree, one of the most difficult things for me is to stop watching and let the trade do its thing, more often than not the winners easily outdo the losers. i do however set a training stop once i am in over 40 pips. i am in this trade and am going to try to not view, i have set an alert when the trade goes to 40 pips and at that point i will evaluate. Attachment
Looks like a good call! Hope it will brake the 8675 ish..
Good luck!
  • #3,932
  • May 25, 2011 11:52pm May 25, 2011 11:52pm
Quoting Chillypiper
Looks like a good call! Hope it will brake the 8675 ish..
Good luck!
Thanks CP, many pips to you
  • #3,933
  • May 25, 2011 11:59pm May 25, 2011 11:59pm
Quoting davlo
I have to agree, one of the most difficult things for me is to stop watching and let the trade do its thing, more often than not the winners easily outdo the losers. i do however set a training stop once i am in over 40 pips. i am in this trade and am going to try to not view, i have set an alert when the trade goes to 40 pips and at that point i will evaluate. Attachment
in with you.
  • #3,934
  • May 26, 2011 12:18am May 26, 2011 12:18am
Quoting ToeCutter
I'm a "watcher".
Me too. Sleep through a trade? That takes a true pro.
My favorite crochet hook is size J. It's a J-Hook!
  • #3,935
  • May 26, 2011 12:22am May 26, 2011 12:22am
Quoting dean
yep thats correct. I have found an example for you. I know the tdi is at a bad angle but this is just to show you what I mean. See how the tdi has not crossed unti the 3rd blue candle...this means no trade. So I gues the first thing you look for is a candle colour change on your chart. Look at the strength of the candle and look at your tdi and see if it has crossed.
Candle 1 is the first candle of changed colour (the first reversal candle)

Thanks Dean looking better already I'll have to start working on holding on to the pips instead of giving them all back to the market.
  • #3,936
  • May 26, 2011 12:36am May 26, 2011 12:36am
Ive posted about this before and no one responded, but i just want to chime in.....I agree with using the last swing for a stop loss as big E does. this is a trend counter/trend system ergo if the swing is taken out then you are wrong and you should be out. im not understanding why no one considers that valid? Another fallacy that I keep reading is risk to reward ratio must be 1:1 or 2:1 etc. I have been trading live in spot forex for about six years now. my main profits have historically come from scalping smaller tf's. that means many small gains and a few bigger losses all the while remaining net positive. I use this system for trading smaller positions on longer tf's during the overnight london session (im on NY time). I was reading the posts about the 40 pip trades going negative 60 pips and closing out minus 22...not flaming you but what i have learned is NEVER to let a trade like that go negative...EVER. I will always move my stop to positive after checking in on my trade and seeing green, why why why give anything back? the market will take from you with out remorse because they know that they will always make their money from the greedy and fearful. is that you? will you dump your hard earned pips back so easily? maybe that was a demo but why train yourself to lose? as for the risk reward being 1:1 or 2:1, whats wrong with setting a tp on your trades, having it hit and looking for a new trade. if you expect to get in and out at tops and bottoms you will be sorely disappointed and very frustrated. there are trades on the 4hr chart that i will take profit at 20 pips and others i have set at 80 to 100 depending on the pair..my goal is to take profit on the next level of resistance or support....is this wrong? i would use the 674 pips earned in the last three weeks to argue with you. have i had losses? sure ....so what? my net is far exceeding many of the signal services out there, my win rate is 87 percent. are they all home runs? nope. do they need to be? do i need a 1:1 ratio on an 85%+ system...you tell me.
  • #3,937
  • May 26, 2011 12:49am May 26, 2011 12:49am
Quoting XxLessoxX
Ive posted about this before and no one responded, but i just want to chime in.....I agree with using the last swing for a stop loss as big E does. this is a trend counter/trend system ergo if the swing is taken out then you are wrong and you should be out. im not understanding why no one considers that valid? Another fallacy that I keep reading is risk to reward ratio must be 1:1 or 2:1 etc. I have been trading live in spot forex for about six years now. my main profits have historically come from scalping smaller tf's. that means many small gains...
are you saying that this strike rate of yours is from this sytem alone?? is this the only system you trade?? and what MM system do you use to protect your capital and cut your losses??
  • #3,938
  • May 26, 2011 12:49am May 26, 2011 12:49am
Quoting babnz48
I like the TDI indy could you please tell me the name of it and where I can find it
Thank you very much
Why run around googling for it when i've got it right here?
Attached File(s)
File Type: ex4 Traders Dynamic Index VISUAL ALERTS.ex4   22 KB | 639 downloads
  • #3,939
  • May 26, 2011 12:50am May 26, 2011 12:50am
Quoting XxLessoxX
Ive posted about this before and no one responded, but i just want to chime in.....I agree with using the last swing for a stop loss as big E does....
The Only Constant Is Change!
  • #3,940
  • May 26, 2011 1:00am May 26, 2011 1:00am
Quoting XxLessoxX
Ive posted about this before and no one responded, but i just want to chime in.....I agree with using the last swing for a stop loss as big E does....
I must must agree with you because i also average a net of 500pips monthly strictly trading on 4H with my tp ranging between 55-65 pips per trade. I've also heard a lot of argument that it's a waste of the using the 4H chart for such but i completely disagree because it's a consistency which i'm so not ready to give up. I know that when i take a trade on the H4 after all parameters have been met, very rarely would it not hit my tp.
Happy pipping.
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