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Trading Made Simple

  • #4,641
  • Jun 3, 2011 7:12am Jun 3, 2011 7:12am
Quoting freebeans
I took this trade during tokyo session. Second trade in 2 days where I settle for a few pips and left more on the table. This was a beatiful setup. I only took 20 pips and left 100 behind.
When that happens I always try to remember that pips missed are better than pips lost. Makes me feel a little better.
  • #4,642
  • Jun 3, 2011 7:20am Jun 3, 2011 7:20am
Quoting vbmark
I got up last night at 11:55 PM EST and 3:55 AM EST in order to see the new 4 hr candles come up. I have the windows displayed for the recommended 8 pairs.

I am being more conservative thanks to the great feedback I got earlier:

- Ensure the stochastic confirms the trend.
- Look for a strong green.
- Note the strength of the previous candles.

However, neither of the times that I got up, and the new 4 hr candles were posted,...
Look at what I and scoobs say above
The whole week will be quiet more than normal , due to a number of factors
It was moving a bit Tuesday (especially CHF) but the only thing to move a bit last night was JPY and in conjuntion with things like a falling GBP people have managed to get some pips since last night

It takes a bit of time to see the behaviour of the currencies (what is strong rising , weak falling ) and the best thing to do is find the hot pair that hopefully is on a good trend on the upper TF

all these factors make your EDGE better
Hot pair is the strongest currency nex to the weakest
Obviously if you stay with the recommended pairs then sometimes you will miss things like the GBPJPY move

"The trend is most definitely your friend"

PS I dont have enough passion to get up in the middle of the night so I play just the London session
PPS sorry I just realized you have to get up then ,to catch the London session, I'm sorry about that , The most activity is always the london session
  • #4,643
  • Jun 3, 2011 7:24am Jun 3, 2011 7:24am
Quoting vbmark
I got up last night at 11:55 PM EST and 3:55 AM EST in order to see the new 4 hr candles come up. I have the windows displayed for the recommended 8 pairs.

I am being more conservative thanks to the great feedback I got earlier:

- Ensure the stochastic confirms the trend.
- Look for a strong green.
- Note the strength of the previous candles.

However, neither of the times that I got up, and the new 4 hr candles were...
Last night there were no setups that I saw on the 4HR, the market is quiet for the reasons described earlier. On quiet days you need to pick your pairs carefully (look for more active pairs) and drop down to lower timeframes (1HR). I don't think there's any value in talking about averages, depends on how many pairs your monitoring/timeframes/bank holidays etc. BigE trades the 4HR candle just before London open (6AM GMT for me) and the one 4HRs later (10AM GMT) during the London session. He then closes out his trades at the next 4HR candle (NY open) and drops down to the 1HR for a couple of hours trading till the end of the London session. He doesn't trade the Asian session at all. If your monitoring 8+ pairs over 1HR/4HR timeframe throughout the week, you'll have plenty enough setups to trades, the tricky part is cherry picking them
  • #4,644
  • Jun 3, 2011 7:32am Jun 3, 2011 7:32am
Looks like we have blast off on the market
  • #4,645
  • Jun 3, 2011 7:36am Jun 3, 2011 7:36am
Quoting 2scoops
Looks like we have blast off on the market

haha, damn it, I just closed AUDJPY short , due to slow market, about about 30 mins before
  • #4,646
  • Jun 3, 2011 7:37am Jun 3, 2011 7:37am
Quoting kook
What platform do you use?
Hi Kook,

I use OmniTrader. You can code almost anything with it's internal OmniLanguage.
I've coded and ploted the RSI(13) and SMA(2) of RSI(13) and SMA(7) of SMA(2) of RSI(13). But the line doesn't move quite the same and the scaling appears to be way off or it's not "smoothed" enough.
In Post 8 from Dean's link, TDI bounces around the 50 line at the end, but mine shoots up over 68 and then drops down below 32.
I've played with all sorts of periods and EMA's but no go yet. Going to keep working at it though.
I can't wait until I can get it working to be able to follow along with the charts on my platform.

----

Big E,
Hope you're feeling better soon.

----

Dean,
Could you PM me or e-mail please, I can't PM you as I'm still a Junior Member but I have a quick question, but don't want to clutter up this thread.

----


Thank you to all who post and share. This is such an interesting strategy!


Lain
  • #4,647
  • Jun 3, 2011 7:56am Jun 3, 2011 7:56am
You've been watching "SLAUGHTERHOUSE 5" live :-)
Bah...
  • #4,648
  • Jun 3, 2011 8:03am Jun 3, 2011 8:03am
http://img32.imageshack.us/img32/1520/picture1so.png

Anybody thinking this maybe a good short?
  • #4,649
  • Jun 3, 2011 8:43am Jun 3, 2011 8:43am
Quoting surva101
http://img32.imageshack.us/img32/1520/picture1so.png

Anybody thinking this maybe a good short?
I'm still learning this system, but I'd like to get more involved.
I'm going to take a shot at this one and hopefully a pro can confirm if I'm right now or not.
TDI and Stoch look like they are a pretty good angle down but I think it's against one of the rules because it's on the 3rd color change bar. And the rule is only enter on bar 1 or 2.
Is that right?


Lain
  • #4,650
  • Jun 3, 2011 9:09am Jun 3, 2011 9:09am
Quoting Lain
I'm still learning this system, but I'd like to get more involved.
I'm going to take a shot at this one and hopefully a pro can confirm if I'm right now or not.
TDI and Stoch look like they are a pretty good angle down but I think it's against one of the rules because it's on the 3rd color change bar. And the rule is only enter on bar 1 or 2.
Is that right?


Lain
I believe that's correct bar one or two, not three.
What you do is a reflection of you....what I do is a reflection of me.
  • #4,651
  • Jun 3, 2011 9:20am Jun 3, 2011 9:20am
Quoting surva101
http://img32.imageshack.us/img32/1520/picture1so.png

Anybody thinking this maybe a good short?
there is small resistence at 1.2126
Previous candle is small
  • #4,652
  • Jun 3, 2011 9:22am Jun 3, 2011 9:22am
Quoting Lain
I'm still learning this system, but I'd like to get more involved.
I'm going to take a shot at this one and hopefully a pro can confirm if I'm right now or not.
TDI and Stoch look like they are a pretty good angle down but I think it's against one of the rules because it's on the 3rd color change bar. And the rule is only enter on bar 1 or 2.
Is that right?


Lain
exact!
third bar is not good
  • #4,653
  • Jun 3, 2011 9:25am Jun 3, 2011 9:25am
someone else?
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  • #4,654
  • Jun 3, 2011 9:26am Jun 3, 2011 9:26am
seen it late
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  • #4,655
  • Jun 3, 2011 9:48am Jun 3, 2011 9:48am
Quoting Danyjoe
seen it late
Trading after News is as much painful as trading before News.

I ventured, for sake of trade game, being bored, to open two positions: EURCHF and EURJPY in opposite directions (kinda hedge).. However, it seems I did a mistake at entry time and typed different.. sizes lol...

After NFP they jumped against each other, I was calm watching the strugle.... until I noticed that Loss is increasing faster than Profit... Omg, positions sizes are different... Fire! Fire! Exit! Exit! :-))

So, mind your keyboard

p.s. sorry for off topic... it's firday...

Plamen
Bah...
  • #4,656
  • Jun 3, 2011 9:58am Jun 3, 2011 9:58am
Quoting plamendp
Trading after News is as much painful as trading before News.

I ventured, for sake of trade game, being bored, to open two positions: EURCHF and EURJPY in opposite directions (kinda hedge).. However, it seems I did a mistake at entry time and typed different.. sizes lol...

After NFP they jumped against each other, I was calm watching the strugle.... until I noticed that Loss is increasing faster than Profit... Omg, positions sizes are different... Fire! Fire! Exit! Exit! :-))

So, mind your keyboard

p.s. sorry for off topic... it's firday......
yes .. is not good to trade near news ..
but U / S was expected that go down .. only I did not know when

There were news about USD and it's Friday.. but for now my trade on G/U E/U A/U are in profit... (taken all after the news)
seems to have moved the market from a few hours
  • #4,657
  • Jun 3, 2011 10:03am Jun 3, 2011 10:03am
Quoting plamendp
Trading after News is as much painful as trading before News.

I ventured, for sake of trade game, being bored, to open two positions: EURCHF and EURJPY in opposite directions (kinda hedge).. However, it seems I did a mistake at entry time and typed different.. sizes lol...

After NFP they jumped against each other, I was calm watching the strugle.... until I noticed that Loss is increasing faster than Profit... Omg, positions sizes are different... Fire! Fire! Exit! Exit! :-))

So, mind your keyboard

p.s. sorry for off topic... it's firday...

I think we are all guilty of putting on trades cos we get bored of waiting for the perfect setup
Unfortunatley I always end up with about 6 trades going , when in reality I should be waiting to capture just one or two great trades per day


I have an interesting situation though at the moment
I have live accounts with two different brokers which gives me a 4 hour candle opening every 2 hours
ie one broker closes its candle at 4 am CET and then another closes its candle at 6 am , so giving me theoretically more chance of getting trades when using the 4H TF

So I can check for setup every 2 hours in effect
  • #4,658
  • Jun 3, 2011 10:14am Jun 3, 2011 10:14am
Quoting snarlyjack
Guys and Gals,

I'll set a $100.00 hard stop (just in case) and go to work. I can't
check my charts until I get home again 8 hours later. For the
most part 80% of the time I'll be in profit when I get home. After
I'am home and check out the charts I make my decision to stay
with the trade or liquidate the trade. This way of trading has been
very profitable for me.

Hope this might help someone!

snarlyjack
Thanks for your generosity in sharing. I feel comforted to know that it works 80% of the time!
  • #4,659
  • Jun 3, 2011 10:29am Jun 3, 2011 10:29am
Quoting Incrediblle
In my opinion trading this system on 1 hr time frame will be much profitable.
Have you been trading the 1H all these while?
  • #4,660
  • Jun 3, 2011 11:08am Jun 3, 2011 11:08am
Quoting disciple
Have you been trading the 1H all these while?
yup...



ps:in picture typo error 1.6300
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Trade responsiblypatience is the key/Swing trader
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