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Trading Made Simple

  • #6,161
  • Jun 23, 2011 2:41pm Jun 23, 2011 2:41pm
The London opens at 12.00 am Pacific Time. BigE checks his chart 4 hour prior to that opening which is 10.00 pm pacific time and places his orders. Stays in the trade till 6.00 am next day and closes everything either profit or loss..He is trying to avoid slow and ranging times..
  • #6,162
  • Jun 23, 2011 3:23pm Jun 23, 2011 3:23pm
Quoting seller9
Those were three nice trades. I see it looks like you don't wait for London. What times do you trade?
I check my charts when i wake up and whenever i can during the day, living in London makes it easy for me.
  • #6,163
  • Jun 23, 2011 3:30pm Jun 23, 2011 3:30pm
Quoting adeforex
I was caught in the same trade on eurusd yestaday because it escaped my mind to check the news at that time.Never knew that it was a big news.
Just as 2scoops said, 4hr tf are hardly affected by many news especially if the momentum is high unless if in a ranging zone. Just looked at what happened after the FOMC news of yesterday, clean signals all over, saw it but was not really interested because of the time that it happened and was not really concentrating, but see what has happened within 12 hours.Major news causes stares alot....
I agree, I'm trading only 4 hours ..
I'm doing 80 to 140 pips a day .. with total relaxation


(for new people) every time I see indicators strange or complicated things .. I hope you're not complicating the system ..
green through red, good strength, good direction, good stoch, a lot of practice, backtest .. and go!
this is called trade Made Simple, no trades made ​​complicated

with respect
for your success!
good job!
  • #6,164
  • Jun 23, 2011 4:55pm Jun 23, 2011 4:55pm
Sorry I can't help you with MT4 crashing when you use the trigger indi, all I know is mine doesn't. All the trigger indi does is give you some more confirmation of a change in direction, it can help filter out what is a true reversal and what could be a bounce trade. Treat it as such if you want to use it.
  • #6,165
  • Jun 23, 2011 5:37pm Jun 23, 2011 5:37pm
Quoting bez3000
I check my charts when i wake up and whenever i can during the day, living in London makes it easy for me.
Hi to all, hi Bez I think I've seen you around in Trade What you See - Almost naked trading, Lawgirl's thread... which is one of my favorite threads in here... how are you doing???
Flp. 4:13
  • #6,166
  • Jun 23, 2011 5:49pm Jun 23, 2011 5:49pm
if you use MT4 on Alpari then they don't support any build over 200'ish. Current build is >400.
  • #6,167
  • Jun 23, 2011 6:06pm Jun 23, 2011 6:06pm
Quoting handy148
if you use MT4 on Alpari then they don't support any build over 200'ish. Current build is >400.
I am at Build 402 on Alpari (US) with no problems.
  • #6,168
  • Jun 23, 2011 9:49pm Jun 23, 2011 9:49pm
Quoting 2scoops
I would advise you to set them up as you see fit, what do you think is a good slope to your eye?

However Plamen is using these settings (or he was two weeks ago). I still use these settings:


Slope Threshold: 4.5
Bounce Threshold: 3.0 (last 2 slopes unsigned difference)
Bounce Min Slope (Green slope when bouncing): 3.8
Bounce Max Distance: 2.7

Then set a minimum candle size threshold - maybe 10 for H1 20 for H4 50 for the Daily? - choose your own, maybe a customised one for each pair.
cheers mate
  • #6,169
  • Jun 24, 2011 12:02am Jun 24, 2011 12:02am
Quoting handy148
if you use MT4 on Alpari then they don't support any build over 200'ish. Current build is >400.
You can download Metatrader from the developer (http://www.metaquotes.net/en) and set the login, password and server data of the Alpari UK's and this way you will have Build 402 (I did the same).
Ric
  • #6,170
  • Jun 24, 2011 1:48am Jun 24, 2011 1:48am
Quoting Anthar
Hi to all, hi Bez I think I've seen you around in Trade What you See - Almost naked trading, Lawgirl's thread... which is one of my favorite threads in here... how are you doing???
I'm good thanks, yes i do check in on Law girls thread as well but i am just trading this method at the moment.
  • #6,171
  • Jun 24, 2011 2:05am Jun 24, 2011 2:05am
I am pretty new to this thread and enjoyed reading through the 400+pages during the last days. I did some successful trades by trading H4 only this week but its still hard to judge if i should enter the market or not.

I have a question that i think has not been asked in this way or i over read it. If so please forgive :-)

The rules are entry on the first or second candle in the direction color after/at a cross. Further it says don't enter on small and weak candles.

When i look at posted charts in this thread or backtest in Metatrader i see only the closed entry candles and but not what they did look like at their open time. In many cases entry candles become big enough for an entry afther they opened during their developing period. So a lot of set ups that have been posted here start with quite small candles when they open which look big now because they moved in the candle period.

On the chart i attached you see a valid entry candle (vertical line) and the horizontal line is the open price of the candle. So the candle was not that big at open time. Would you have considered an entry anyway? Do you have a pip size in mind how big entry candles should be depending on currency pairs and timeframe or do you just judge on the size of previous candles and if it is not smaller you go for it?

Thanks
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  • #6,172
  • Edited 2:41am Jun 24, 2011 2:30am | Edited 2:41am
I spent many hours backtesting this system with a trade simulator, setups on small candles do often turn into good trades, however the probability of success is higher when the candle is strong. The logic behind this is most indicators are useless without good volume, a strong candle usually means good volume hence you can be much more confident in the signals your indicators are giving you. Its all about stacking the odds in your favour. There's a good video somewhere on this thread for reading HA candles - search for compassfx on this thread - should be on here somewhere. That candle you highlighted looks ok (if that was its size), its hard to set a minumum candle size because all pairs and TF are different. Maybe 20 pips on the H4 but on some of the more active pairs that will be more like 30 pips minimum.
  • #6,173
  • Jun 24, 2011 2:44am Jun 24, 2011 2:44am
Quoting boerge
I am pretty new to this thread and enjoyed reading through the 400+pages during the last days. I did some successful trades by trading H4 only this week but its still hard to judge if i should enter the market or not.

I have a question that i think has not been asked in this way or i over read it. If so please forgive :-)

The rules are entry on the first or second candle in the direction color after/at a cross. Further it says don't enter on small and weak candles.

When i look at posted charts in this thread or backtest in Metatrader i see...
Yep I totally agree with what you are saying and seeing. Scoops you might be able to help me out here and let me know if I mam wrong or right....the stronger candles seem to have more body to them...so if you are looking to go short...the strong candles that look like they have purpose have a large body and no or small top wick. And if you are looking at getting in on the second candle the strong ones nearly always have no top wick like this would you agree 2 scoops??:
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  • #6,174
  • Jun 24, 2011 2:49am Jun 24, 2011 2:49am
Yes thats pretty much it - find that video on CompassFX it explains it all in depth. The candle doesn't have to be huge.

Its on here somewhere

http://www.compassfx.com/synergy/commentary.htm
  • #6,175
  • Jun 24, 2011 2:55am Jun 24, 2011 2:55am
Good info... totally agree. Not sure if this is the video you're referring to, but it's worth a look anyway: http://www.compassfx.com/video/flash/22108/22108.html
  • #6,176
  • Jun 24, 2011 3:16am Jun 24, 2011 3:16am
Hi Buddies

Do you find any setup to enter Long or Short at the moment.

arasheed
  • #6,177
  • Edited 3:45am Jun 24, 2011 3:35am | Edited 3:45am
Quoting dean
Yep I totally agree with what you are saying and seeing. Scoops you might be able to help me out here and let me know if I mam wrong or right....the stronger candles seem to have more body to them...so if you are looking to go short...the strong candles that look like they have purpose have a large body and no or small top wick. And if you are looking at getting in on the second candle the strong ones nearly always have no top wick like this would you agree 2 scoops??:
That is exactly what i always look for in a bounce and trend consolidation zone for signals. I have posted it some where before, the type of HA to look for. Compare it to normal candle stick pattern and see the similarities and differences. Personally, if i see HA that shows exactly like highlighted number 1 of yours (small upper/lower wicks with medium/long body), i dont joke with it. It shows high momentum which means a train is travelling, like say 250km/hr, you know it will be difficult to reverse it or stop it. It will break any barrier in short time, either fibo lines, weak support and resistance ,name them. Just the way i see them anyway. You can check here to know some xteristics of HA candle if you care. It may be helpful
We Win Some, We Loose Some, But Let your Win Rates be More to be Successful
  • #6,178
  • Jun 24, 2011 3:43am Jun 24, 2011 3:43am
Quoting adeforex
[color=navy]That is exactly what i always look for in a bounce and trend consolidation zone for signals. I have posted it some where before, the type of HA to look for. Compare it to normal candle stick pattern and see the similarities and differences. Personally, if i see HA that shows exactly like highlighted number 1 of yours (small upper/lower wicks with medium/long body), i dont joke with it. It shows high momentum which means a train is travelling, like say 250km/hr, you know it will be difficult to reverse it or stop it. Just the way i see...
This is good advice
  • #6,179
  • Jun 24, 2011 3:43am Jun 24, 2011 3:43am
Her you go.....this first reversal candle is a ripper.....Its the aussie being dragged up by the positive euro news but......it would be what you are looking for in candle strength.
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  • #6,180
  • Jun 24, 2011 3:51am Jun 24, 2011 3:51am
Ok guys while theres not muchhappening....One of the biggest problems I have is support and resistance....what should I take into account.....what is considered strong and what can I ignore or overlook. In fact I have found my success has decreased as the weeks have gone on becasue I fell I am overanalysing the SR levels. .
So when you guys get to the SR assessment...what do you pay more attention to??
The levels going WITH the trade direction such as numbers 1 and 3 (swings in the same way the trade is going now) or the areas that are against the direction like number 2 (where previous support may now be resistance once price gets up to it)?? This I find difficult becasue if you take both on board you would never trade. But at the moment I am overanalysing these or getting them wrong or something.....all I know I am not having anywhere near the succes I was at the start when I wasnt overanalysing these.
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