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Trading Made Simple

  • #6,621
  • Jun 30, 2011 6:53am Jun 30, 2011 6:53am
Quoting dean
I'm not sure what you are saying??? I am saying that I see it as being in a strong uptrend. Callisto was going short. Are you agreeing??
strong uptrend, i agree on all TFs, but sometimes you got to take a punt with the obvious, i could be wrong and so be it, but this is how i see it.

I was looking at nzdusd last night entering a supply zone, so i thought id check bigger tfs as usual, and too my instant suprise, i couldnt see price beyond that point EVER!!! check monthly, mine goes back to 1989.
Never has price been so high, well once it was in 2008 but barely, see monthly at how it dropped so rapidly!!! and violently when it was so high.

Just my take on things, supply and demand mixed with the obvious. I may be wron and price may shoot up and ill take my loss, but according to what i said above i am more than happy to short this pair.
  • #6,622
  • Jun 30, 2011 6:54am Jun 30, 2011 6:54am
eurjpy and gbpousd is nice setup for me. i,ll take it both now short
  • #6,623
  • Jun 30, 2011 6:55am Jun 30, 2011 6:55am
Hello bez3000,

Could you please let me know if this is a valid entry point.
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  • #6,624
  • Jun 30, 2011 6:56am Jun 30, 2011 6:56am
Quoting geobull
eurjpy and gbpousd is nice setup for me. i,ll take it both now short
i take it your looking at 4 hr, check 1 hr both are indicating to go long any moment, what would other people do in this scenario
  • #6,625
  • Jun 30, 2011 7:03am Jun 30, 2011 7:03am
Quoting bez3000
I am also watching this.
bez, did u get in? (gbp/usd 4hr) or are you waiting for the 2nd candle?
  • #6,626
  • Jun 30, 2011 7:09am Jun 30, 2011 7:09am
Quoting deankenny21
i take it your looking at 4 hr, check 1 hr both are indicating to go long any moment, what would other people do in this scenario
Personally I wouldn't take the trade, Dean you are right - the hourly chart looks to oversold & the cross on the 4hr TDI was approx 6 candles back. Not a good enough reason to take the trade IMO.
  • #6,627
  • Jun 30, 2011 7:16am Jun 30, 2011 7:16am
Greek vote has started late, result expected 14:00 GMT now.
  • #6,628
  • Jun 30, 2011 7:33am Jun 30, 2011 7:33am
trade...
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  • #6,629
  • Jun 30, 2011 7:37am Jun 30, 2011 7:37am
Quoting eelfranz
trade...
hi, nice trade, just for learning purposes though, seeing the downward trend clearly from your chart, is entering a long a less chance?

what other things made you enter this trade, look forward to your reply.
  • #6,630
  • Jun 30, 2011 7:38am Jun 30, 2011 7:38am
Quoting dean
I agree...this is where ther is some confusion when people go up a time frame to check trend....some would say the daily is in an up trend becasue the last two candles are blue.....I see it as a downtrend so Yes it is a good setup BUT you are too late....second candle is nearly finished.
I am curious as to how everyone sees the daily on this chart?? we see a down...would anyone consider the G/U to be in an upward bias?
Yes thats my Bias.. so am looking for a hier low confirmed by the TDI.. problem is if it turns and rcrosses from here will be above the 50%%.mite go further down and make the turn legit.. and it may go strait down..if it does turn up from here couldnt be claimed as part of the method..
  • #6,631
  • Jun 30, 2011 7:42am Jun 30, 2011 7:42am
Quoting dean
I would see this as against the trend on pretty much all charts up to and including the weekly.....are you happy counter trend trading?
Not a critcism I am just curious.
Is that a new rule? Didn't see trend mentioned before now; anyway, it is OK now, the cross disappeared, so much for enter at start of candle
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OPPORTUNITY IS NOWHERE
  • #6,632
  • Jun 30, 2011 7:44am Jun 30, 2011 7:44am
Quoting eelfranz
trade...
hello BIG E! wich time frame use 1h or 4h ? wich is better for your system? wich time frame is more profitible? Thanks
  • #6,633
  • Jun 30, 2011 7:49am Jun 30, 2011 7:49am
Quoting doublePip
bez, what exactly are you waiting for? TDI has crossed at the new candle and previous candle looks good or is your TDI repainting(flapping up and down) during candle formation? Or are you waiting for PA to clear below that mess to the left?
Yes TDI crossed, but at the time i said this my candle had not closed so i did not know if it would close strong on not.
It did close well but i did not trade it due to price entering a support area on the Daily chart. Move to Daily and look left for my reasoning.
  • #6,634
  • Jun 30, 2011 7:50am Jun 30, 2011 7:50am
Quoting dean
I agree...this is where ther is some confusion when people go up a time frame to check trend....some would say the daily is in an up trend becasue the last two candles are blue.....I see it as a downtrend so Yes it is a good setup BUT you are too late....second candle is nearly finished.
I am curious as to how everyone sees the daily on this chart?? we see a down...would anyone consider the G/U to be in an upward bias?
I see it down mate
  • #6,635
  • Jun 30, 2011 7:55am Jun 30, 2011 7:55am
Quoting dean
Yes but there are some who seem to have the timing right where they are into the pips immediately...I seem to be straight into drawdown and then it comes back. Its not so bad but it means I am not timing it right and to be honest it could add 10-25 extra pips at the end of the trade...I am wondering if....when I get my signal...I should drill down to the 5 minute and wait for a retracement then enter??
My trades often go drawdown immediately as my timing is difficult due to work. I get to the charts when i can, but i think if i stick to my rules drawdown or not the trade will come good in the end because i have traded it correctly and if not move on. I Would probably be looking at a way of entering with no drawdown on the 5m if i had the time, but for me it's check charts almost every 4 hours set the trade and move on.
  • #6,636
  • Jun 30, 2011 7:55am Jun 30, 2011 7:55am
Quoting deankenny21
i take it your looking at 4 hr, check 1 hr both are indicating to go long any moment, what would other people do in this scenario
EURJPY to me is clearly down.... The Cable .. by the 4 hr and 1 candles and previous base patten on 1 hr.. i would wait and look for the TDI to give a buy signal.. If it doesnt .. well so be it..
  • #6,637
  • Jun 30, 2011 7:59am Jun 30, 2011 7:59am
Quoting Forex Girl
Hello bez3000,

How many signals per day do you get? I'm in Brazil, GMT -3, and My Broker GMT is +2. I'm not getting good signs or lot of signs. Then I have tried to use the TF 1H, but Itīs not working consistently.
Did You set your SL and TP? or Do you follow the trade? How many pips against to you are necessary to stop and get out of the trade?

I would appreciate your advices.

Thank You


Hello bez3000,

How many signals per day do you get? 20 trades this week so far I'm in Brazil, GMT -3, and My Broker GMT is +2. I'm not getting good signs or lot of signs. Then I have tried to use the TF 1H, but Itīs not working consistently.
Did You set your SL and TP? SL at last swing no TP unless running into strong SR or Do you follow the trade? How many pips against to you are necessary to stop and get out of the trade? Could be 20 could be 150 whatever the last swing needs.

I would appreciate your advices.

Thank You
  • #6,638
  • Jun 30, 2011 8:03am Jun 30, 2011 8:03am
Quoting netwatchpips
Hello bez3000,

Could you please let me know if this is a valid entry point.
I would not trade this myself due to:

 

  1. I don't trade 1h
  2. Against the trend
  3. I like a strong candle to close over the yellow MA.

  • #6,639
  • Jun 30, 2011 8:08am Jun 30, 2011 8:08am
Hi,
First post here, I just want to thank Eelfranz for sharing this strategy, it took me some hours to read the entire thread.
I couldn't help but notice that the thread grows by the minute because of people asking silly questions that have been already answered, so here is my advice:
-Read the rules of the strategy, they are very SIMPLE
-The strategy works, but is not 100% for sure like everything else in trading
-When you trade you have to assume risks, otherwise DON'T TRADE
-There are going to be some drawdown and some losses, this is part of TRADING, this is cost of doing business!
-For the lazy ones here are the rules:
1-Green crossing Red
2-Enter in the first or the second candle
3-Use 4 hour chart, or like Big E does during New York use one hour chart
-It doesn't get simpler than that
-There are tools to practice this strategy, like using a simulator, but you have to put up some time by doing it! Instead of asking silly questions over and over and cluttering this thread.
Big E if you think that this post is in anyway wrong, let me know and I will delete it.
Again thank you for sharing a so SIMPLE strategy, I hope your health is getting better. Excuse any typos but English is my second language!
Good trading to you all!

Cheers!
  • #6,640
  • Jun 30, 2011 8:09am Jun 30, 2011 8:09am
USDCHF.. 4hour TDI gives.. clear hier low signal.. below 50%
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