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Trading Made Simple

  • #6,321
  • Jun 27, 2011 11:28am Jun 27, 2011 11:28am
Quoting sadler
What kind of sl do you set when you trade and the tp on a 4hr TF.
and i assume you take the trade at the beginning of the 4th hour and run it through until the next candle forms.
hope you don't mind asking questions, I see the simple rules working, but i am finding it hard to set my rules such as tp, sl and also number of trades.

cheers
I set SL below / above the last swing and i rarely set TP unless i see strong SR ahead, i normally let the candles let me know when the trend is turning.
  • #6,322
  • Jun 27, 2011 11:35am Jun 27, 2011 11:35am
Quoting bez3000
Below i have included my current trades for today, hopefully someone will find them useful.

cadjpy = +30
euraud = +115
eurgbp = +30
eurjpy = +62
gbpcad = +100

Total = +337 for today.

I wish everyday could be like today has been.
Wow, Bez, nice job! What time zone are you in?
Luck occurs when preparation meets with opportunity.
  • #6,323
  • Jun 27, 2011 11:38am Jun 27, 2011 11:38am
Quoting AlienFrog
Wow, Bez, nice job! What time zone are you in?
I live in London mate, so London & New York sessions are good for me to find trades.
  • #6,324
  • Jun 27, 2011 11:52am Jun 27, 2011 11:52am
Quoting bez3000
I set SL below / above the last swing and i rarely set TP unless i see strong SR ahead, i normally let the candles let me know when the trend is turning.
Sorry bez3000, i an yet to get used to the technical terms used.
When you say last swing:
for eg, you are going long on the first blue candle so your stop loss would be the end tip of the previous red candle. am i right here.

In the attached image, i have marked the entry and the SL on top, (4h chart) is the right

in regards to the trend truning out, you mean to say, if you get a Long good entry at 4pm and 8pm the green line became flat or curved towards short and about to cross you get out of the trade without waiting to hit sl right.


ps: sorry about the marking, i am still learning.
Attached Image (click to enlarge)
Click to Enlarge Name: SL.gif Size: 19 KB
  • #6,325
  • Jun 27, 2011 12:05pm Jun 27, 2011 12:05pm
Quoting sadler
Sorry bez3000, i an yet to get used to the technical terms used.
When you say last swing:
for eg, you are going long on the first blue candle so your stop loss would be the end tip of the previous red candle. am i right here.

In the attached image, i have marked the entry and the SL on top, (4h chart) is the right

in regards to the trend turning out, you mean to say, if you get a Long good entry at 4pm and 8pm the green line became flat or curved towards short and about to cross you get out of the trade without waiting to hit sl right....
Check out my EJ chart below, i have marked my entry and my stop loss. This is what i mean about swing low, also if you check the other charts i posted earlier you can see the green entry and red SL lines on them all. I rarely get my SL hit, if i see the candles loosing momentum and changing i exit.
Attached Image (click to enlarge)
Click to Enlarge Name: ej.gif Size: 26 KB
  • #6,326
  • Jun 27, 2011 12:11pm Jun 27, 2011 12:11pm
Thanks for your infos bez3000, I can learn a lot from your posts. Keep it up and good luck with trading mate.
The Mind creates reality.
  • #6,327
  • Jun 27, 2011 12:12pm Jun 27, 2011 12:12pm
Quoting bez3000
I live in London mate, so London & New York sessions are good for me to find trades.
I'm in the US in EST. I'm already getting up at 4am to check 4X before going to work 8-5. If I can ever go fulltime trading this may turn into a night shift job! But if you get a 300+ pip day every now and then it would be worth it! Haha!

You also trade some pairs I have never looked at. I'm going to expand my horizons. Thanks!
Luck occurs when preparation meets with opportunity.
  • #6,328
  • Jun 27, 2011 12:14pm Jun 27, 2011 12:14pm
Quoting bez3000
Check out my EJ chart below, i have marked my entry and my stop loss. This is what i mean about swing low, also if you check the other charts i posted earlier you can see the green entry and red SL lines on them all. I rarely get my SL hit, if i see the candles loosing momentum and changing i exit.
precise explanation.
Appreciate that.
I also had a look at your previous charts and learned from them as well.
I did notice a time indicator you using to let you know the time of the 4hr candle, does mt4 got this indicator inbuilt .

cheer
ps: hello from London as well !
  • #6,329
  • Jun 27, 2011 12:17pm Jun 27, 2011 12:17pm
Quoting AlienFrog
I'm in the US in EST. I'm already getting up at 4am to check 4X before going to work 8-5. If I can ever go fulltime trading this may turn into a night shift job! But if you get a 300+ pip day every now and then it would be worth it! Haha!

You also trade some pairs I have never looked at. I'm going to expand my horizons. Thanks!
No problem i watch and 21 pairs which allows me to trade only what i think are the A+ setups.
I am still learning myself and still make mistakes this is my third week of trading this strategy.
In week one i made over +1000 pips but last week i was -70 so running total is a little over +1200 but it's early days i want to see what the next 3 or 4 weeks give me.
Getting up at 4am is commitment i don't do that i need my sleep to much
  • #6,330
  • Jun 27, 2011 12:20pm Jun 27, 2011 12:20pm
Quoting sadler
precise explanation.
Appreciate that.
I also had a look at your previous charts and learned from them as well.
I did notice a time indicator you using to let you know the time of the 4hr candle, does mt4 got this indicator inbuilt .

cheer
ps: hello from London as well !
No someone posted it on this thread, i have attached it below.
It's been a scorching day, going out for dinner now, good trading all.
Attached File(s)
File Type: ex4 ##BarCountDown.ex4   4 KB | 532 downloads
  • #6,331
  • Jun 27, 2011 12:21pm Jun 27, 2011 12:21pm
Took this trade this morning at 8am est. Only went for 25 pips due to so much congestion to the left. Having my stop below prior swing kept me from being stopped out.
Attached Image (click to enlarge)
Click to Enlarge Name: aud_jpy_6-27_8am_+25.png Size: 138 KB
  • #6,332
  • Jun 27, 2011 12:42pm Jun 27, 2011 12:42pm
Quoting adeforex
This is off topic. Please does anyone have an EA that is very simple to use to manage open trades in such away that can automatically move my stoploss to BE+y pips after certain moves. I think someone gave it earliar but cant find it again. I will appreciate it if someone can show me the link or share it for personal use.
Swiss Army EA: http://www.forexfactory.com/attachme...3&d=1290352134

Swiss Army PDF: http://www.forexfactory.com/attachme...4&d=1290352134
My favorite crochet hook is size J. It's a J-Hook!
  • #6,333
  • Jun 27, 2011 12:48pm Jun 27, 2011 12:48pm
Quoting eelfranz
I love you dear friends, Just got home from a 9 day hospital stay. Didn't eat at all, 1 1/2 hours sleep per night. 120 heart beat average... feel like a wrung out dish rag... talk soon... keep me in your prayers please.... blessings... Eric
Hope you are feeling better Eric. God bless
  • #6,334
  • Jun 27, 2011 12:48pm Jun 27, 2011 12:48pm
Quoting freebeans
Took this trade this morning at 8am est. Only went for 25 pips due to so much congestion to the left. Having my stop below prior swing kept me from being stopped out.
Lol - yep looks quite familiar that chart.

BigE's back, crack open the beers the good times are rollin again, feeling energised.
Attached Image
  • #6,335
  • Jun 27, 2011 12:50pm Jun 27, 2011 12:50pm
Nice trades -Nice charts
  • #6,336
  • Jun 27, 2011 12:51pm Jun 27, 2011 12:51pm
Hello Eric. A very quick question if you dont mind. Are you using the regular Heiken Ashi indicator or the Synergy Apb indicator. And how do they differ from each other? Thank you in advance for this great system..
  • #6,337
  • Jun 27, 2011 12:52pm Jun 27, 2011 12:52pm
Now thats what I call a glass of beer. Welcome back Big E!!!
  • #6,338
  • Jun 27, 2011 12:53pm Jun 27, 2011 12:53pm
Quoting bez3000
Below i have included my current trades for today, hopefully someone will find them useful.

cadjpy = +30
euraud = +115
eurgbp = +30
eurjpy = +62
gbpcad = +100

Total = +337 for today.

I wish everyday could be like today has been.

I am also watching :
audnzd
nzdjpy
audjpy
usdcad
nzdusd
All have potential depending on how the current candle closes, i expect i will only trade a couple of them.

Comment welcome
Fenominal Bez! Really nice so see people make lots of pips!
Its great to see BigE back!
  • #6,339
  • Jun 27, 2011 1:01pm Jun 27, 2011 1:01pm
Quoting bez3000
Below i have included my current trades for today, hopefully someone will find them useful.

cadjpy = +30
euraud = +115
eurgbp = +30
eurjpy = +62
gbpcad = +100

Total = +337 for today.

I wish everyday could be like today has been.

I am also watching :
audnzd
nzdjpy
audjpy
usdcad
nzdusd
All have potential depending on how the current candle closes, i expect i will only trade a couple of them.

Comment welcome
That is awesome!! I was wondering if you had started trading live, yet?
  • #6,340
  • Jun 27, 2011 1:08pm Jun 27, 2011 1:08pm
Quoting bez3000
No problem i watch and 21 pairs which allows me to trade only what i think are the A+ setups.
Bez, now you have my curiosity and I have to ask you if you don't mind would you share which 21 pairs? I'm just trying to start with something that is obviously working for you, rather than test them all one by one myself.

I appreciate all the info you are sharing!
Luck occurs when preparation meets with opportunity.
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