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Trading Made Simple

  • #4,441
  • Jun 1, 2011 3:51am Jun 1, 2011 3:51am
Honestly trading 1HrTF is really gambling when all the news is flying out...was long on three CHF pairs following the CHF retail release, and got lucky with the poor GBP PMI figures.

Exited all trades 160pips
  • #4,442
  • Jun 1, 2011 3:58am Jun 1, 2011 3:58am
this looks pretty good. Rarely seen such a good angle. with the trend, weak resistance below, great candle size.
Attached Image (click to enlarge)
Click to Enlarge Name: chart.JPG Size: 196 KB
  • #4,443
  • Jun 1, 2011 4:01am Jun 1, 2011 4:01am
Quoting peterporter
So I take it you didnt stay with your GBPCHF from yesterday
Closed @ 20+ pips. Started a ranging H1... and now... damn... Missed 100+... Well, it is history already :-)
Bah...
  • #4,444
  • Jun 1, 2011 4:13am Jun 1, 2011 4:13am
Hi..Is it safe for below trades ?

1. SELL EUR/USD
2. SELL GBP/USD
3. BUY USD/CAD

I am uploading the latest chart on 4H FXDD period which just began in a couple minutes ago.

Please clarify! Thanks
Attached Image(s) (click to enlarge)
Click to Enlarge Name: cad.gif Size: 25 KB
Click to Enlarge Name: euro.gif Size: 28 KB
Click to Enlarge Name: gbp.gif Size: 26 KB
  • #4,445
  • Jun 1, 2011 4:13am Jun 1, 2011 4:13am
Quoting dean
this looks pretty good. Rarely seen such a good angle. with the trend, weak resistance below, great candle size.
I grabbed some 12+ pips from shorting U/CHF this morning (Europe) but would be careful for new shorts.

* Something is holding the pair in a range after a clear downtrend (H4)
* TDI cross & touch 32 level
Attached Image (click to enlarge)
Click to Enlarge Name: usdchf-h4.gif Size: 32 KB
Bah...
  • #4,446
  • Jun 1, 2011 4:18am Jun 1, 2011 4:18am
I treat first candle crosses with caution, as you said, you can have a cross then PA retraces and the next candle is a bounce. If i see good angle on stochs and TDI and trade is with then trend then i would take it, if not i would wait. I think you need to use your judgement, there's no right or wrong, thats just me though.... lets see what E says

Obviously if its a second candle cross i jump straight in as per rules

Quoting cfabian
Big E, thanks God you're back on track. Wish you a quick recovery.

AS per our business here, I guess there's a confusion around about the TDI crossing. Some people just jump in at the very moment the TDI crosses, and some others wait for the candle to close.

For you to consider a true crossing, you would wait the candle where TDI is crossing to close and enter at the beginning of the next, or you jump in when TDI IS crossing, no matter that current candle can close opposite and TDI barely touches or repaints with no touch at all?

This would...
  • #4,447
  • Jun 1, 2011 4:26am Jun 1, 2011 4:26am
Quoting kasriaz
i short usd/jpy at 81.30 but hit my slop loss at 81.40

can any one guide me what went wrong..........????
The rules say to put the SL above the last Blue candle.

Also i wouldnt have taken the trade as the last 5 or 6 candles are pretty choppy, no real direction. I try to only take the best 1 or 2 trades of the day, no point trading for the sake of trading.

just my 2 pips, hope it helps
  • #4,448
  • Jun 1, 2011 5:02am Jun 1, 2011 5:02am
Quoting viocable
Hi..Is it safe for below trades ?

1. SELL EUR/USD
2. SELL GBP/USD
3. BUY USD/CAD

I am uploading the latest chart on 4H FXDD period which just began in a couple minutes ago.

Please clarify! Thanks
E/U looks a bit shakey to me, relatively small candle, and if you looks at PA the last couple of short TDI crosses havent worked out to well.

the other 2 trades look good
  • #4,449
  • Jun 1, 2011 5:18am Jun 1, 2011 5:18am
Quoting Danyjoe
ok .. I tried to go short here
tdi ok, green tilted 45 degrees and above 50(but not much)
second candle
stochasticity ok
goes down to 30m
heikin ashi second down

uncertainties:
trade away from EMA
the previous candle has long tail
stochasticity is not starting from above 80
30m to the candle has slowed slightly

What do you think?
+12 pips
now close because the green is slowing down, back up to 30m and 4h is below 50
  • #4,450
  • Jun 1, 2011 5:24am Jun 1, 2011 5:24am
Quoting Flatrader
I am entering a UJ daily long. Green cross, stochs confirmation, 2nd candle.

Attachment
Ok.. But I see a Daily pivot at 81.35.. do we not take pivots as Support using this system?

Also UJ sems to be ranging in daily's, or am I wrong

Just asking.. I am a beginner to this system
"It always seems impossible until it is done" Nelson Mandela
  • #4,451
  • Jun 1, 2011 5:37am Jun 1, 2011 5:37am
Also i wouldnt have taken the trade as the last 5 or 6 candles are pretty choppy, no real direction. I try to only take the best 1 or 2 trades of the day, no point trading for the sake of trading.

just my 2 pips, hope it helps[/quote]

I like your attitude, keep it up!

Pete
  • #4,452
  • Jun 1, 2011 5:47am Jun 1, 2011 5:47am
Quoting Rhino101
Ok.. But I see a Daily pivot at 81.35.. do we not take pivots as Support using this system?

Also UJ sems to be ranging in daily's, or am I wrong

Just asking.. I am a beginner to this system
Want to know more about pivots? Read this /www.babypips.com/school/forex-pivot-points.html

It should help.

Happy trading

Pete
  • #4,453
  • Jun 1, 2011 6:10am Jun 1, 2011 6:10am
For everyones information pivot points work really, really well on gbpusd 15 minute tf. Watch for congestion as a pivot is met then trade the breakout. Reversals can be good too but don't trade against a strong trend. I think lots and lots of traders, institutional and otherwise, must be watching these levels on this pair. I have not seen them work as well on any other pair.

Also there are a lot of trades posted in the above posts that seem to be trading directionless markets and/or trading against the trend. On a water slide at the swimming pool do you try to go upwards? I believe this is a very good method but why not make life easier and wait until your trade is in the direction of the main trend?
  • #4,454
  • Jun 1, 2011 6:12am Jun 1, 2011 6:12am
advising someone in congestive heart failure (CCF as we say here in Aus) to drink lots of fluids is really bad advice, usual treatment is diuretics and fluid restriction as a baseline therapy, oxygen is great though.

Alex
  • #4,455
  • Jun 1, 2011 6:23am Jun 1, 2011 6:23am
Quoting adowland
advising someone in congestive heart failure (CCF as we say here in Aus) to drink lots of fluids is really bad advice, usual treatment is diuretics and fluid restriction as a baseline therapy, oxygen is great though.

Alex
??????
  • #4,456
  • Jun 1, 2011 6:24am Jun 1, 2011 6:24am
Please help.. This looked like a good set up, and I waited for price to move above Pivot, if i waited for next candle I would be on candle #3, so no trade.

What did I miss???

Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPY.png Size: 56 KB
"It always seems impossible until it is done" Nelson Mandela
  • #4,457
  • Jun 1, 2011 6:33am Jun 1, 2011 6:33am
TDI angle doesn't look good, that would be enough to keep me out of that trade.
  • #4,458
  • Jun 1, 2011 6:35am Jun 1, 2011 6:35am
Quoting Rhino101
Please help.. This looked like a good set up, and I waited for price to move above Pivot, if i waited for next candle I would be on candle #3, so no trade.

What did I miss???
I refer to my previous post. That just looks like a directionless market to me.
  • #4,459
  • Jun 1, 2011 6:36am Jun 1, 2011 6:36am
Quoting Rhino101
Please help.. This looked like a good set up, and I waited for price to move above Pivot, if i waited for next candle I would be on candle #3, so no trade.

What did I miss???

Attachment

Looks like u traded into headwind, in addition to news release which was negative for the GBP
  • #4,460
  • Jun 1, 2011 6:37am Jun 1, 2011 6:37am
Quoting Rhino101
Please help.. This looked like a good set up, and I waited for price to move above Pivot, if i waited for next candle I would be on candle #3, so no trade.

What did I miss???

Attachment
lots of small choppy candles with tails on both ends to the left
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