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Trading Made Simple

  • #6,661
  • Jun 30, 2011 9:30am Jun 30, 2011 9:30am
Cliff,

Great words as well as the next post about the PDF comments. I totally understand that in reality, any candle can turn at any time. I am just trying to weigh waiting for more confirmation, in my mind, vs getting in on the actually cross. As I mentioned, I may not fully understand how the TDI works vs looking for MA crosses etc. I traded a MA cross system a while back but you had to wait for the close of a candle to confirm that the cross actually happened. Is there anything different with the TDI vs a MA cross? How the TDI works etc?

Thanks,
RCWSO

Quoting cce
Hey RC, Sweet dreams, eh? Nice trade...
Some consider that since the first red candle was very small it bears letting the market give up more info on which way it may be leaning...
Granted, not to the measure of the rules regarding placing the trade on the open of the 1st or 2nd candle, but then there is no guarantee that the market will continue red just because the first two candles were red...
It is after all a game of numbers...Big E's rules help with making that decision to trade or not to trade...
You feel more comfortable with waiting...
  • #6,662
  • Jun 30, 2011 9:34am Jun 30, 2011 9:34am
Quoting cce
Leona,
Well said...nice reference to the PDF file as well...
Good Trades...
Cliff
If the 1st candle is a tiny "speck" I don't usually count it, I sometimes enter on candle # 3 (but only when candle # 1 is a nothing but a speck). This doesn't happen that often though.

For the most part enter at the beginning of candle #1 or #2 to avoid confusion for newbies.
  • #6,663
  • Jun 30, 2011 9:36am Jun 30, 2011 9:36am
Quoting acosma
after tdi cross you should wait for ema 5 cross too ?
because I see here that some people do not wait for the ema cross and enter immediately on the 2°candle after tdi cross but as I understood the candle that cross the ema 5 is the setup candle and then enter the trade on the open of the next candle, right ?


Andrea.

We don't wait for an EMA cross, enter at the beginning of candle #1 or #2 when you have the TDI cross.
  • #6,664
  • Jun 30, 2011 9:38am Jun 30, 2011 9:38am
Yep, yep...good point...

For the most part enter at the beginning of candle #1 or #2 to avoid confusion for newbies.[/quote]

Good Trades...
I get exercise just pushing my luck
  • #6,665
  • Jun 30, 2011 9:41am Jun 30, 2011 9:41am
Below is a chart with the following questions/comments on it:

-Daily trend is Down
-Support on daily at 1.5930
-So would trading this 4hr bar be a good idea going down to a strong Support point?
-Should we have entered on 2nd red candle?
-What about the Greek vote news? Any thoughts about waiting that out?

So did I/we miss the boat or what are the thoughts on this set-up? Opportunity to enter on the open of the next candle in about an hour? What else should I look for?

Thanks.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD 4hr.JPG Size: 84 KB
  • #6,666
  • Jun 30, 2011 9:46am Jun 30, 2011 9:46am
Anyone get caught in that reversal on GBP/JPY?

Had a like a 100 pip profit and just gave it all back.
  • #6,667
  • Jun 30, 2011 9:55am Jun 30, 2011 9:55am
Quoting Lain
Anyone get caught in that reversal on GBP/JPY?

Had a like a 100 pip profit and just gave it all back.
Yes i did, thats trading i'm afraid looks like most of the jpy pairs moved i got stopped on 3 pairs. I have closed most of my trades now for this week as not trading tomorrow, for about +600.
  • #6,668
  • Jun 30, 2011 10:05am Jun 30, 2011 10:05am
There seems to be some confusion about trading the beginning of the first or second candle. Trading the opening of the first candle way to aggressive for me- I always take the second. Maybe this chart can help. Oh- One thinf I found that is real important - its not only important what you trade but when. I take most of my trades at 12 am est some at 8pm. I look for setups.However this strategy works for me. This particular trade really did not take off until 4 am. About 8 minutes after that target was hit. The best entries I feel are at 3am like Big e recommends. however I dont get a 4hr candle until 4am and I dont trade 1 hr charts.

Once again I am still learning this. So any suggestions or corrections are welcome.
Attached Image (click to enlarge)
Click to Enlarge Name: 2011-06-30_8pm +35.png Size: 304 KB
  • #6,669
  • Jun 30, 2011 10:07am Jun 30, 2011 10:07am
Quoting Rcwso
Below is a chart with the following questions/comments on it:

-Daily trend is Down
-Support on daily at 1.5930
-So would trading this 4hr bar be a good idea going down to a strong Support point?
-Should we have entered on 2nd red candle?
-What about the Greek vote news? Any thoughts about waiting that out?

So did I/we miss the boat or what are the thoughts on this set-up? Opportunity to enter on the open of the next candle in about an hour? What else should I look for?

Thanks.
Im in this trade, looks like strong support around 1.5900 but my 1:1 ratio above that level.
  • #6,670
  • Jun 30, 2011 10:09am Jun 30, 2011 10:09am
Quoting bez3000
Trade update:

euraud = +133 open
gbpaud = +120 closed
nzdjpy = + 87 closed
nzdusd = + 220 open
usdcad = + 200 open

New trades:

euraud = + 132 open
usdjpy = + 45 open
gbpjpy = +35 open

Added to about +80pips from trades running from last week puts me about +1050 running total for this week.
I might close all trades this evening or in the morning as away for the weekend and will not have time on Friday.

This is a fantastic system if you are willing to work at it and i mean work as if it's your day job and you need to put...
Hi @bez3000......Great to see all your results and feedback to the thread.
I'm a little bit puzzeled though. I live in the Netherlands and we have 1 hour of difference. Hi neighbour!
My 4hr candle starts at 6 am, 10 am etc.......so in Great Britain that would be at 7 am and 11 am. At what time do you start to trade then, because I would have to get up in the middle of the night to get the same results as you do, and to follow the rules of TMS to entre the 1 or 2 candle. That's what puzzeles me a bit.
Or do you set your trades before you go to bed? Being in the Netherlands at 22pm or 2am and in England at 23pm or 3am.............if I'm correct.

Just trying to figure out what would be the best time to enter my trades, and perhaps it would be helpfull to when you put up any charts to mark your entries.

But perhaps even better and more helpfull that everybody puts up a chart entering a trade............not only afterwards........I think we could all learn a great deal from that.

Good luck trading!
  • #6,671
  • Jun 30, 2011 10:09am Jun 30, 2011 10:09am
Quoting bez3000
Yes i did, thats trading i'm afraid looks like most of the jpy pairs moved i got stopped on 3 pairs. I have closed most of my trades now for this week as not trading tomorrow, for about +600.
Nice pips, I finished with about +400 pips but I made about 100pips of bad selections that looking back I shouldn't have traded. But still came out with a profit.
After 2 weeks of demo trading I'm up about 1000 pips. Can't complain about that
Hopefully going to move to a live account in a week or two.
  • #6,672
  • Jun 30, 2011 10:09am Jun 30, 2011 10:09am
Quoting 33drifter
Im in this trade, looks like strong support around 1.5900 but my 1:1 ratio above that level.
so r u in short on this pair?
  • #6,673
  • Jun 30, 2011 10:26am Jun 30, 2011 10:26am
Quoting deankenny21
so r u in short on this pair?
Correct, SL 1.6121 and TP at 1.5921. I was +40 but now im -40, im going to bed soon so ill let it play out over night (aussie time)
  • #6,674
  • Jun 30, 2011 10:36am Jun 30, 2011 10:36am
Quoting 33drifter
Correct, SL 1.6121 and TP at 1.5921. I was +40 but now im -40, im going to bed soon so ill let it play out over night (aussie time)
yes same here as i was nicely in profit now in the minus, i always let fear come into play, but like you said let it play out see what happens
  • #6,675
  • Jun 30, 2011 10:43am Jun 30, 2011 10:43am
Quoting deankenny21
yes same here as i was nicely in profit now in the minus, i always let fear come into play, but like you said let it play out see what happens
Is there any consideration for moving your SL to Break Even after a certain amount into profit? I understand if you are asleep that is not possible.

How are others defining the overall trend? With the GU if you zoom out on a daily it looks like an uptrend but I see the downtrend from the past month or so. So, what defines the trend? How far back etc are people using? The weekly is an uptrend as well if you look back for the past 6 months or so. So, I guess I am asking why is this trading going short vs looking for long? I can see it both ways depending one how the overall trend is being defined.

Thanks.
  • #6,676
  • Jun 30, 2011 10:47am Jun 30, 2011 10:47am
Quoting Rcwso
Is there any consideration for moving your SL to Break Even after a certain amount into profit? I understand if you are asleep that is not possible.

How are others defining the overall trend? With the GU if you zoom out on a daily it looks like an uptrend but I see the downtrend from the past month or so. So, what defines the trend? How far back etc are people using? The weekly is an uptrend as well if you look back for the past 6 months or so. So, I guess I am asking why is this trading going short vs looking for long? I can see it both ways...
this is something that i hate too, i can see all what your seeing, you get told left right and centre trade with trend etcetc seminars, books, sam seiden, all of them, and yes thats the idea, but whichever one u look at you have varying trends in different TF's. I see gu down then eg u see it up on a daily, so what do we do long or short, you would get different answers all round. Hope someone can put some clarity on how this would be looked at?
  • #6,677
  • Jun 30, 2011 10:54am Jun 30, 2011 10:54am
Hi Canialegui,

I do not get up in the night to trade no, i get to my charts when i can and if this means i miss trade then so be it. I only trade what is in front of my, not what i think will happen or chase what has happened.
Hope this helps.

Quoting Canialegui
Hi @bez3000......Great to see all your results and feedback to the thread.
I'm a little bit puzzeled though. I live in the Netherlands and we have 1 hour of difference. Hi neighbour!
My 4hr candle starts at 6 am, 10 am etc.......so in Great Britain that would be at 7 am and 11 am. At what time do you start to trade then, because I would have to get up in the middle of the night to get the same results as you do, and to follow the rules of TMS to entre the 1 or 2 candle. That's what puzzeles me a bit.
Or do you set your trades before you go to...
  • #6,678
  • Jun 30, 2011 10:56am Jun 30, 2011 10:56am
Quoting Lain
Nice pips, I finished with about +400 pips but I made about 100pips of bad selections that looking back I shouldn't have traded. But still came out with a profit.
After 2 weeks of demo trading I'm up about 1000 pips. Can't complain about that
Hopefully going to move to a live account in a week or two.
Sounds like you are in the same place as me my freind.
I made over 1000 first week then had a bad second week making about 70 then this week 600 so will demo maybe another two weeks before going live as well.
  • #6,679
  • Jun 30, 2011 11:12am Jun 30, 2011 11:12am
God how I love this game, Love the smell of pips in the morning, Smells Like Victory. Hey well I'm here, I looking for a broker that gives you 1 mulligan a week? anyone know of such a broker. Nice little fake out on that E/U this morning 'uh" got me tempted, but I knew Big E would have loved to chew my ass over that weak candle. Ya baby! Keep on piping
  • #6,680
  • Jun 30, 2011 11:20am Jun 30, 2011 11:20am
Hi Folks, can someone guide me to the link of rules? Also, bez3000, what hours do you trade? I'm California, so I'm Pacific time. Put my first trades in last night and came out ahead but left them go into NY session and gave it all back. I need a bit of fine tuning. Love the thread.
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