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Trading Made Simple

  • #4,101
  • May 27, 2011 8:50am May 27, 2011 8:50am
I don't know about you guys but today whatever I try to analyze&trade is hitting either a support or reistense or trend line .. etc. :-) Despite all those good TDI crosses I was kept out from trading because of this...

Last (and only for today) trade I took was E/CHF H1 Short - again, support and bounce but I managed to move SL to BE+spread and avoid loosing some 40 pips

Oh well.. friday... time to prepare the BBQ

Plamen
Attached Image
Bah...
  • #4,102
  • May 27, 2011 8:54am May 27, 2011 8:54am
He he love that image...

The sweet setups away from S&R are definately there, I missed a classic one this week on the 4HR simply because the pairs open on my laptop were different that the pairs open on my server that I trade from - lol basic error - would have definately traded the setup it was such an obvious trade.

Have a good weekend all!
  • #4,103
  • May 27, 2011 9:37am May 27, 2011 9:37am
I usually don't trade on Fri but still getting a handle on this strat. This morning @ 07:00 CDT on the 4H USD/JPY the Syn indi showed an up (blue) candle but the HA Smooth was still showing a decline (pink salmon). On the 1H the Syn. shows 5 up candles but the Smooth just one. TDI & stochs areed on both charts and both TFs. I don't see anyone here recently using the Smoothed but is it more conservative than Synergy? I'm baffled as to why there is such a difference and would appreciate any comments. p.
  • #4,104
  • May 27, 2011 11:02am May 27, 2011 11:02am
Quoting Nate04
I almost hate admitting this, but I just closed my trades. I hate admitting this because I told myself I wasn't even going to look at them until tomorrow...

Now the reasons why... I wanted to enjoy my Friday without worrying about the trade, and more importantly, I got 60 pips profits in a couple of hours time. I'm sure the will both go for more pips tomorrow. But I just can't turn away 60 pips.
I put on Same trade yesterday after reading your post + i put on Eur/USD couple hour later. so far 240 pips up. good find. Thanks
  • #4,105
  • May 27, 2011 11:04am May 27, 2011 11:04am
[quote=Juls;4647174]Hello everyone,
As promised i thought i would let you all know how i am getting on using this system.
I am trading this as big E trades, 4hr tf and during the london session.
I set a stop loss at 100 pips and then only check my trades every 4hrs.
If any of the trades are above 55 pips when checking i will close them for profit, this is the only change i have made...

WEEK 1
304 PIPS PROFIT (THIS WAS INCLUDING LOSSES)

WEEK2
MARKET HAS BEEN DEAD THIS WEEK, SO FAR 34 PIPS PROFIT.

WEEK 2 UPDATE....
2 TRADES TAKEN THIS MORNING AND UNFORTUNATELY THEY BOTH LOST.
TOTAL = -1 PIP FOR THE WEEK.......

LETS SEE WHAT NEXT WEEK BRINGS, HAVE A GOOD WEEKEND EVERYONE.....

jULS.
  • #4,106
  • May 27, 2011 11:09am May 27, 2011 11:09am
Quoting olegy
[left]In fact I'm using average daily range indicator. Its 128 pips average for AU for last 25 days. But in my case I put 300 !!! pips Sl , but after the trade rich 1/2 of my 1TP (100 pips for daily TF profit ) , I move SL to BE. NO swissarmy or any kind of trailing stop.

Because daily candle forming itself at 00:00 my time , I usually jump in and go to bed. But you right , you can get better start , using lower TF

[font=Calibri][size=3]By the way...
Wow, I'm surprised at your R:R ratio, but if your pulling in winners consistently, hay, I guess it works. I personally cant get my head around that much on the table. If it turns on you I'm sure you look for a way to get out..Right? ( you could be stuck in it for day's )

Great results on the swissie too. I road it down as well. One of my better trades for the week to boot!

Also, thank for the indicator. I'll check it out. I am beginning to like the daily more and more and if I can get the daily confirmation all other TF should be all that much more profitable.

Cheers!
  • #4,107
  • May 27, 2011 11:32am May 27, 2011 11:32am
Quoting piprac
I usually don't trade on Fri but still getting a handle on this strat. This morning @ 07:00 CDT on the 4H USD/JPY the Syn indi showed an up (blue) candle but the HA Smooth was still showing a decline (pink salmon). On the 1H the Syn. shows 5 up candles but the Smooth just one. TDI & stochs areed on both charts and both TFs. I don't see anyone here recently using the Smoothed but is it more conservative than Synergy? I'm baffled as to why there is such a difference and would appreciate any comments. p.

Have you seen this video on candle averaging?

http://www.compassfx.com/video/flash/22108/22108.html
  • #4,108
  • Edited 11:50am May 27, 2011 11:35am | Edited 11:50am
Quoting Chillypiper
Wow, I'm surprised at your R:R ratio, but if your pulling in winners consistently, hay, I guess it works. I personally cant get my head around that much on the table. If it turns on you I'm sure you look for a way to get out..Right? ( you could be stuck in it for day's )

Great results on the swissie too. I road it down as well. One of my better trades for the week to boot!

Also, thank for the indicator. I'll check it out. I am beginning to like the daily more and more and if I can get the daily confirmation all other TF should be all that much...

Hi Chillypiper , pls do not take my style with closed eyes , I'm not a guru yet LOL. But first of all my SL is just against any disaster , in most cases Big E's stop sign will appear , and u will out of bad trade with smaller loose.

My trades choosing stile the same as described in these thread, with only one exclusion : I'm not taking counter trades , and trend trades I'm always checking on higher TF.
Yes , daily TF (and may be 4h sometimes) is more profitable then lower , and setups more accurate
  • #4,109
  • May 27, 2011 11:43am May 27, 2011 11:43am
Quoting plamendp
It is an effect of saving a template while being in one timeframe and loading it back in another timeframe - saving templates saves drawn objects as well (by indicator design they are bound to timeframe). If you see this, cycle all timeframes once and it will be clear. A side effect of drawing objects and saving templates. Nothing to do about it unless I clear ALL objects from the chart at the begining of the indi.. which however is destructive.. Live with it mate :-)


Or, which is the best choice, use the original Big E's TDI.

Plamen
Even if I do clean the objects the problem still remains strangely. Anyway I followed the advice to delete the indi and reload it again. So far its working. As for the original TDI I found this problem, which I don't know if it was mentioned before: depending on the size and shape of the chart, the slope can look different i.e. if the window is narrow the slope looks steeper and vice versa. Your indi seems to solve it.
  • #4,110
  • May 27, 2011 11:47am May 27, 2011 11:47am
Quoting olegy
[color=black][font=Verdana]Hi Chillypiper , pls do not take my style with closed eyes , I'm not a guru yet LOL. But first of all my SL is just against any disaster , in most cases Big E's stop sign will appear , and u will out of bed trade with smaller loose.

My trades choosing stile the same as described in these thread, with only one exclusion : I'm not taking counter trades , and trend trades I'm always checking on higher TF.


[color=black][font=Arial]Yes...

I'm with ya! Will you carry your existing trades through the weekend? Not me. ( possible slippage ) I just closed my UJ and may re-enter Tuesday.

NY session will be slow Monday, with our Memorial Day Holiday.


PS
As a former Marine and veteran, Thank you to all of our armed forces and their family that protect our freedom. May God Bless you all!

  • #4,111
  • May 27, 2011 11:48am May 27, 2011 11:48am
closing 2 daily trades with +60pips per trade. may be too early , but I don't want to go thru the weekend with any open trade
120 pips is good for 1 day
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  • #4,112
  • May 27, 2011 11:53am May 27, 2011 11:53am
Hope you're still listening eelfranz since don't seem to be contributing too much here lately but thought as a matter of FF protocal should give my two cents... which is more than I've made in years (about 4) of trying to figure out trading in short time frames, the fact that I am now an expert in price movement in short time frames notwithstanding.

Having my MT4 profile stacked with eight pairs seems to keep me entertained and am able to select trades that win!

Am using three-banger Semafor Alert (as two-banger) for exit (see below) but forgot to turn up the volume last nite and will now have to wait till next week. ((Closed already in these two trades @ $7 in this $100 account.)

Thanks a lot for the lead!
Attached Image (click to enlarge)
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Attached File(s)
File Type: ex4 #4X 3 Semafor Alert.ex4   11 KB | 649 downloads
  • #4,113
  • May 27, 2011 12:01pm May 27, 2011 12:01pm
Bruce, how do you use the semafor?
  • #4,114
  • May 27, 2011 12:21pm May 27, 2011 12:21pm
Hi verybody. I need your help. I made over 300 pips profit this week only with this system until today. But something happened and I start to trade without system on my own with too large position sizes according to my account. I have 100 dollar account and I opened 0.20 lots without a system.

And the result is, I lost all my profits and made extra losses. Can someone give me an idea about not opening too large position sizes? I should obey to the system and open only 0.01 according to my money management with a 100 dollar live acccount. But usually I can not control myself.

is there a way to erase bigger lot sizes from metatrader or is there a way to be more strong minded and to control myself emotionally?

Please guys help me. I thing this is the only barrier in front of me on the road to 100.000 USD accounts.
Demand is not one wants, but what one can pay for
  • #4,115
  • May 27, 2011 12:33pm May 27, 2011 12:33pm
Went long on te GBPUSD a couple of days aga on the daily and went short on the USDCHF about the same time. Just closed them (probably to early) before the holiday weekend. Up 200+ pips a piece. 400+ pips ain't bad for a couple of days. I may have cut this system short, but I'm still learning to trade it on the daily (demo). I like where this is heading!
  • #4,116
  • May 27, 2011 1:06pm May 27, 2011 1:06pm
Quoting roterio
Hi verybody. I need your help. I made over 300 pips profit this week only with this system until today. But something happened and I start to trade without system on my own with too large position sizes according to my account. I have 100 dollar account and I opened 0.20 lots without a system.

[b]And the result is, I lost all my profits and made extra losses. Can someone give me an idea about not opening too large position sizes? I should obey to the system and open only 0.01 according to my money management with a 100 dollar live acccount....
You are the master and only you take responsibility for your trades. Be realistic here and now. If you can`t follow a simple rule as taking only let`s say 2persent per trade, make a judgement for yourself that no trades for a week or something you deside if this happen again. You are the captain of your boat.
  • #4,117
  • May 27, 2011 1:47pm May 27, 2011 1:47pm
Roterio,

There are some very good articles on trading psychology at the babypips.com forum. They're called pipsology.
You are your own worst enemy.
  • #4,118
  • May 27, 2011 1:50pm May 27, 2011 1:50pm
Quoting Saintsurfer
You are the master and only you take responsibility for your trades. Be realistic here and now. If you can`t follow a simple rule as taking only let`s say 2persent per trade, make a judgement for yourself that no trades for a week or something you deside if this happen again. You are the captain of your boat.
Thank you Saint, I will try but I think I need also a script or a program that will limit me to open a large position size trade.

in fact controlling my emotions is best solution also for the future but I cant do that. I need help very seriously.
Demand is not one wants, but what one can pay for
  • #4,119
  • May 27, 2011 2:22pm May 27, 2011 2:22pm
Quoting brucewhain
Hope you're still listening eelfranz since don't seem to be contributing too much here lately but thought as a matter of FF protocal should give my two cents... which is more than I've made in years (about 4) of trying to figure out trading in short time frames, the fact that I am now an expert in price movement in short time frames notwithstanding.

Having my MT4 profile stacked with eight pairs seems to keep me entertained and am able to select trades that win!

Am using three-banger Semafor Alert (as two-banger) for exit (see below) but forgot...

Hi, it seems very interesting, about the semafor, can you explain to us how to use it, and which properties may it has?, also how to read it in the chart?, thank you.
  • #4,120
  • May 27, 2011 2:47pm May 27, 2011 2:47pm
in my previous experience of semafore indicators they repaint like hell
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