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Trading Made Simple

  • #5,341
  • Edited 3:40am Jun 14, 2011 3:25am | Edited 3:40am
Quoting adeforex
approaching overbought and resistance zone
Hi Silversurfer and Adeforex
Yes Both of You are right The position was stopped out with 25 Pips Loss
arasheed
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd h1 long stopped out.gif Size: 33 KB
  • #5,342
  • Jun 14, 2011 3:48am Jun 14, 2011 3:48am
Quoting arasheed
I entered Long GbpUsd on TDI up is it correct??
Please comment
Angle was poor, long taken in the over bought zone, near to resistence, no trade.
  • #5,343
  • Jun 14, 2011 4:01am Jun 14, 2011 4:01am
Quoting 2scoops
Angle was poor, long taken in the over bought zone, near to resistence, no trade.
Of course it was my mistake evevtually stopped out with 25 pips loss due to hasty decision.arasheed
  • #5,344
  • Jun 14, 2011 4:26am Jun 14, 2011 4:26am
My MT4 program used to show the closed trades on the chart but I must have changed the settings and it doesn't now - does anyone know what setting I need to play around with to resurrect that feature?
  • #5,345
  • Jun 14, 2011 4:39am Jun 14, 2011 4:39am
Quoting arasheed
Of course it was my mistake evevtually stopped out with 25 pips loss due to hasty decision.arasheed
No problem, always glad when people post failed setups, it helps people learn, thanks for posting.
  • #5,346
  • Jun 14, 2011 4:56am Jun 14, 2011 4:56am
Quoting adeforex
I understand, but if i wait for all the news to come to pass before entering a trade, all the good moves might have passed, and wont really help matters.
The way i trade is a little bit aggressive in the right way.
Again, it is euro season, they create alot of signals related to this thread with high volume. My trading decision may be right or wrong, but i will see how it will play and update later. Thanks

True, if people would stop trading because of the news release, you would never trade at all, this system is good as many others but the truth is that It is not so simple as some want you to see it, It has a lot of discretional stuff, It cought my attention because It remembered me long ago when I finally started to make money in Forex, and this was when I quit trading lower timeframes and only used 4 hours and day charts, in my case I use pure price action but I guess that this is the botton of this system with the help of some indicators I also see that sometimes traders use a very small stop loss for 4 hours charts, you have to give your trade some space according to the timeframe you are using.
Indicators always obey Price, not the other way.
  • #5,347
  • Jun 14, 2011 4:59am Jun 14, 2011 4:59am
[IMG]http://img541.imageshack.us/img541/6468/picture1mws.png[/IMG]

First candle looking quite weak. CHF/JPY looking a slightly better option. May see it return to previous support. (Red Line).

[IMG]http://img19.imageshack.us/img19/7060/picture3nmp.png[/IMG]
  • #5,348
  • Jun 14, 2011 6:38am Jun 14, 2011 6:38am
First of all I want to thank everyone who have been answering my questions. I don't want to clutter the thread with a bunch of thank you posts so this is a blanket thank you to everyone and especially 2scoops.

Forex people are so nice.

So here is my next question. I've got up the past two nights for the 12AM and 4AM H4 candle posts but there seemed to me to be nothing with acceptable Entry points according to the TMS rules. I'm evaluating the 8 recommended pairs.

Am I being overly cautious or am I correct that according to the rules it was safer to stay out the past two nights?

Last week when I did take positions they were all successful. Am I doing the right thing erring so much on the side of caution, or will I keep myself out of good trades?

Looking forward to your wisdom.

Thank you!!
Mark
  • #5,349
  • Edited 7:24am Jun 14, 2011 6:39am | Edited 7:24am
Quoting maxtrader
True, if people would stop trading because of the news release, you would never trade at all, this system is good as many others but the truth is that It is not so simple as some want you to see it, It has a lot of discretional stuff....................
Well said, mate. Before i always pull the trigger, many things are going on ,on my mind. That is why i take only one trade at a time, and what i think is the best. The system is like other good ones, but the most important thing is the basic forex especially -price action. I have been a price action trader and will continually be. The system just helped me more in decision making because of its few accurate indicators and its timing.
euchf closed for 30 + pips, resistance on 1 hr
TOTAL PIPS FOR THE WEEK =74(2 trades)
We Win Some, We Loose Some, But Let your Win Rates be More to be Successful
  • #5,350
  • Jun 14, 2011 7:29am Jun 14, 2011 7:29am
Quoting arasheed
Hi Silversurfer and Adeforex
Yes Both of You are right The position was stopped out with 25 Pips Loss
arasheed
arasheed, not to pile on, and this kind of goes with what SS and Ade were saying, but personally, I never take out a long position if the TDI is up at the 68 level, or a short down at the 32 level. It is just playing with fire in my opinion. Others might tell you different, again, this is just my style of trading... conservative keeps your account. Good luck to you in the future!
  • #5,351
  • Jun 14, 2011 7:46am Jun 14, 2011 7:46am
Quoting vbmark

Last week when I did take positions they were all successful. Am I doing the right thing erring so much on the side of caution, or will I keep myself out of good trades?
Wish I could err like you LOL..... keeping out of bad trades is as important as making good ones, and if you are managing to do this, you are not erring!
  • #5,352
  • Jun 14, 2011 8:12am Jun 14, 2011 8:12am
Took this long trade, hope this is a correct trade.
Attached Image (click to enlarge)
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  • #5,353
  • Jun 14, 2011 8:17am Jun 14, 2011 8:17am
Quoting Nate04
arasheed, not to pile on, and this kind of goes with what SS and Ade were saying, but personally, I never take out a long position if the TDI is up at the 68 level, or a short down at the 32 level. It is just playing with fire in my opinion. Others might tell you different, again, this is just my style of trading... conservative keeps your account. Good luck to you in the future!
This is the Point To Ponder, which I neglected
Thanks
  • #5,354
  • Jun 14, 2011 8:27am Jun 14, 2011 8:27am
I'm curious...
Where did you enter trade...kinda hard to determine if correct entry when it does not appear to be noted...
Good trades...
Cliff

Quoting Thierry
Took this long trade, hope this is a correct trade.
I get exercise just pushing my luck
  • #5,355
  • Jun 14, 2011 8:30am Jun 14, 2011 8:30am
I took it at the start of the candle. But what i saw was that the candle opens at 132.14, but when you look at the chart the candle opens at 131.75.
Do people have the same problem? maybe because it is the broker or it is the HA candles.
  • #5,356
  • Jun 14, 2011 9:09am Jun 14, 2011 9:09am
Short Play
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  • #5,357
  • Jun 14, 2011 10:04am Jun 14, 2011 10:04am
Another losing trade, TDI is going down.
Can't understand it, i see some people making easy pips, but i fail. Don't know why.
Attached Image (click to enlarge)
Click to Enlarge Name: gbp jpy long 1h.jpg Size: 144 KB
  • #5,358
  • Jun 14, 2011 10:14am Jun 14, 2011 10:14am
Thierry, as far as I understand, you entered after a HUGE 60-pips candle (I don't mean HA candles, I mean Japanese candles).
Gentlemen always play by the rules. If they can't, they change the rules.
  • #5,359
  • Jun 14, 2011 10:14am Jun 14, 2011 10:14am
Quoting Thierry
Another losing trade, TDI is going down.
Can't understand it, i see some people making easy pips, but i fail. Don't know why.
Thierry, looking at your chart i would not have taken that trade on the 1h due to the resistance at 132.000 and the TDI crossed very high up towards the 68 area, i would want it lower.

I am long on this pair on the 4h time frame, that trade is +100 pips at the moment. Have a look at it on the 4h and see the cross is very low towards the 32.
I like the 4h instead of the 1h as i think it's easier to catch a good trending run.

Just my opinion though
  • #5,360
  • Jun 14, 2011 10:23am Jun 14, 2011 10:23am
Thanks bez,

I go to the 4tf for a while
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