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Trading Made Simple

  • #6,001
  • Jun 22, 2011 1:28am Jun 22, 2011 1:28am
Quoting i79coop
any comments on EU long be appreciated as just learning system, thank you!

-Ian
Not bad, but its the third candle.

Last night had 2 SL hits, but they were already moved in profit
But now they are much more in profit, so again to quick moved my SL. But that is one of the most difficult parts in trading.

Lets see if we can make some nice trades today
  • #6,002
  • Jun 22, 2011 1:41am Jun 22, 2011 1:41am
Quoting i79coop
any comments on EU long be appreciated as just learning system, thank you!

-Ian
Ian,
It's not bad but i would pass and wait for a better setup:

  1. Watch the previous bar highs to the left.
  2. The TDI is a little high for me i would like to have seen more of a retracements.

Just my 2 cents but i don't trade the 1h only 4h so need more patience to wait for A+ setups.

  • #6,003
  • Jun 22, 2011 1:44am Jun 22, 2011 1:44am
Quoting arasheed
Hi Can any body suggest this is correct setup to go long?
Please advise.
arasheed
Almost identical to the EU traded quoted above
  • #6,004
  • Jun 22, 2011 1:48am Jun 22, 2011 1:48am
Thank you all for reply netted 21 pips on this exited due to closeness of the British open. Is this a good reason for exit? entry was on the open of the third candle
  • #6,005
  • Jun 22, 2011 2:00am Jun 22, 2011 2:00am
The markets are not doing much to trigger a good setup at the moment, so no new trades for me.
  • #6,006
  • Jun 22, 2011 2:13am Jun 22, 2011 2:13am
Quoting bez3000
The markets are not doing much to trigger a good setup at the moment, so no new trades for me.
Me neither. 4hr showed some potentially good setups at last 4h candle opening (CET chart), but proved to be a clear lesson in looking to the left!
  • #6,007
  • Jun 22, 2011 2:13am Jun 22, 2011 2:13am
Quoting Chillypiper
Great analysis Dean, I don't refresh either ( per Big E ) simplicity is the key here...Although I do refresh after a hard day with a cold beer sometimes..
I remember BigE saying he doesn't refresh after he makes his trade e.g. I think what he meant by that is whilst he's flicking through different timeframes etc it will be refreshing, then he takes the trade and doesn't refresh afterwards.
  • #6,008
  • Jun 22, 2011 2:15am Jun 22, 2011 2:15am
Quoting bez3000
The markets are not doing much to trigger a good setup at the moment, so no new trades for me.
yeah the markets still seem flat to me, however USD/JPY looks an alright one?

P.S - I'm going to pass on this one
  • #6,009
  • Jun 22, 2011 2:16am Jun 22, 2011 2:16am
Quoting maxtrader
TDI is just an indicator with its advantages and disadvantages, some people here want to see it as a holy grail, and It is not, It is just a good indicator as there are many.
I think it was snarly who put it well, in a way it just gives us permission to look at the trade.
  • #6,010
  • Jun 22, 2011 2:33am Jun 22, 2011 2:33am
Quoting xp3000
yeah the markets still seem flat to me, however USD/JPY looks an alright one?

P.S - I'm going to pass on this one
I only trade 4h and usd/jpy is consolidating so no trade there for me.
  • #6,011
  • Jun 22, 2011 2:37am Jun 22, 2011 2:37am
Quoting bez3000
I only trade 4h and usd/jpy is consolidating so no trade there for me.
So do I, however I'm getting bored sitting on my hands ha! I took the last two days off work so I could try trading over the course of the day and I reckon I've picked the two worst days ever
  • #6,012
  • Jun 22, 2011 2:37am Jun 22, 2011 2:37am
Quoting 2scoops
...in a way it just gives us permission to look at the trade.
Aah I like that. Sums it up well. But it's a point that I think should be emphasised and re-emphasised again and again. I fear that many new and/or inexperienced traders will take a quick look over this thread and treat the TDI as that magic profit-making button we'd all like!

I've been testing this system in demo for the last few weeks, in conjunction with the price action based strategy that I've been running live for the past two years. While a few weeks if far too short a timescale to come to any definite conclusions, I'm pretty convinced that this system, used properly, will generate excellent results.
  • #6,013
  • Jun 22, 2011 2:39am Jun 22, 2011 2:39am
Quoting xp3000
So do I, however I'm getting bored sitting on my hands ha! I took the last two days off work so I could try trading over the course of the day and I reckon I've picked the two worst days ever
ha ha you could be right, i think that one of the hardest things about trading is waiting for a A+ setup and not getting bored and entering a B setup.
  • #6,014
  • Jun 22, 2011 2:42am Jun 22, 2011 2:42am
be carefull for the gbp meeting minutes in about 45 minutes.
can spike any side
  • #6,015
  • Jun 22, 2011 2:44am Jun 22, 2011 2:44am
Quoting DaveUK
Aah I like that. Sums it up well. But it's a point that I think should be emphasised and re-emphasised again and again. I fear that many new and/or inexperienced traders will take a quick look over this thread and treat the TDI as that magic profit-making button we'd all like!

I've been testing this system in demo for the last few weeks, in conjunction with the price action based strategy that I've been running live for the past two years. While a few weeks if far too short a timescale to come to any definite conclusions, I'm pretty convinced...
do you follow 4 hour or 1h time frame? i follow 1hour because can entry early and get out early so can take maximum pips. i think that when entry 4h it,s later. what you think about this?
Thanks
  • #6,016
  • Jun 22, 2011 2:45am Jun 22, 2011 2:45am
People must understand there is no holygrail. The holygrail are you! You have to make descissions about entry and exit a trade.
This method is super easy to trade combine with basic knowlegde of fx.

When the simple criteria of the method: cross (12-2 or 4-6), confirming stoch, trend and first or second candle are met i will look for step 2. Step 2 is for me SR and price action (what kind of bars do we have).
If both criteria looking good i take the trade, knowing that even a perfect setup can turn into a loss.

Everybody can learn trading but no need discipline, hard work, patience, time and some money to make it in this business. Threat it like a business, by every trade i think about business deals, risk vs profit.

Keep it simple, there is no system that can predict.
  • #6,017
  • Jun 22, 2011 2:52am Jun 22, 2011 2:52am
yes thiery i agree you. your HOLY GRAIL is your mind and expeience. systems only help not more.
  • #6,018
  • Jun 22, 2011 2:54am Jun 22, 2011 2:54am
i am interesting one thing, wich time frame is better 1 h or 4h for this system?
  • #6,019
  • Jun 22, 2011 2:57am Jun 22, 2011 2:57am
Both tf work, but i think the 1tf is much harder because of the speed.
At the moment i prefer 4h tf, less lagging.
  • #6,020
  • Jun 22, 2011 2:59am Jun 22, 2011 2:59am
Quoting Thierry
Both tf work, but i think the 1tf is much harder because of the speed.
At the moment i prefer 4h tf, less lagging.
yes i agree you less lagging but orders are later. when we take orders then many pips is waste. it,s my opinion.
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