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Trading Made Simple

  • #6,741
  • Jun 30, 2011 7:03pm Jun 30, 2011 7:03pm
the eu is more of a doji than a acndle right now - large wicks top and bottom.

I prefer a solid candle with a wick in the direction of the candle - wick down for a short move - up for a long move.

As far as how many trades - pick the ones with the biggest swings and strongest signals / angles on the TDI.

I will be aiming for 3 or 4 but not until 9:30 / 10pm
"To live with Passion, it takes Courage and Grace to survive"
  • #6,742
  • Jun 30, 2011 7:04pm Jun 30, 2011 7:04pm
Quoting Britpip7
5pm PST is an interesting 4H candle and I do not generally see trades resulting in strong moves. Although there is often a move between 5:30 and 7pm which you can pick up on the 15m charts, the general tendancies are sideways with maybe a slight reverse on the US market moves.

9pm is usually positioning the move for the Euro and GB market opens at 10 pm and 11pm respectively.

Just some observations.
So with that being the case, will you wait for the open of the 9pm Pacific Time candle to make a trade even if it is the 3rd or just more cautious taking the 5pm trade?

Got to run, be back later. Thanks.

I am going to test trade the EU and AU short. Yes, I know it is against the daily but testing some things for my own learning. I also will test the UJ long. This again is for learning and watching.

Cheers.
  • #6,743
  • Jun 30, 2011 7:07pm Jun 30, 2011 7:07pm
Here we go - I have a pending short @ 1.0681

TDI crossed the 50 on 1H and the 68 on 4H
"To live with Passion, it takes Courage and Grace to survive"
  • #6,744
  • Jun 30, 2011 7:18pm Jun 30, 2011 7:18pm
Quoting Britpip7
nzd/usd short
eur/chf short
eur/gbp short
aud/jpy short

gbp/aud long


Lots of poosibilities on reversals

waiting for the next candle as always :-)
BLDY.. Well spotted..
  • #6,745
  • Jun 30, 2011 7:40pm Jun 30, 2011 7:40pm
Quoting Britpip7
@ Leonaforex

Agreed - no real issues with being conservative. The key is to have a trading plan that you can stick to and be able to show positive results.

Only a month into this so far but am showing a net profit of over 600 pips with running 2 to 5 trades per night if the set ups work.

I will post some charts of me next trades for critique.

I am following Big E's MM outlines and they seem to work for me.
only a month in and so much profit --good on you, well done
  • #6,746
  • Jun 30, 2011 7:59pm Jun 30, 2011 7:59pm
EURCHF..MMM.. I reckon Obought and pull back but i reckon.. its a long trade.. Check the Daily..be looking forb it to come back to resistance and give hier low.. Just my thoughts of course..
  • #6,747
  • Jun 30, 2011 8:16pm Jun 30, 2011 8:16pm
4x trading is ....
Attached Image
  • #6,748
  • Jun 30, 2011 8:18pm Jun 30, 2011 8:18pm
Quoting silversurfer
Potential audusd short trade looming in 2 1/2 hours. Chinese PMI report due at 11am Sydney time which coincides with a new 4hr candle on my platform, this news release could have a big impact on aud pairs if it is out of the expected range.
looks like the daily chart agrees....

http://i52.tinypic.com/14y0t36.gif
  • #6,749
  • Jun 30, 2011 8:19pm Jun 30, 2011 8:19pm
Just took this for a short my 4h bar was about 15m ago. first red looked a little small so looked two the next two to enter. any comments welcome
Attached Image (click to enlarge)
Click to Enlarge Name: aud usd 4h 1 7 11.png Size: 94 KB
  • #6,750
  • Jun 30, 2011 8:22pm Jun 30, 2011 8:22pm
Quoting eelfranz
4x trading is ....
A Big Easy
Hope that you are feeling better now mate
  • #6,751
  • Jun 30, 2011 8:26pm Jun 30, 2011 8:26pm
Quoting eelfranz
4x trading is ....
Great to see ya Big E!
  • #6,752
  • Jun 30, 2011 8:28pm Jun 30, 2011 8:28pm
went short on this about 4 hour ago +21 now maybe I will get back some of what I lost last night.. comments welcome

Good to see eelfranz back on board hope you feel ok now all the best Bud
Attached Image (click to enlarge)
Click to Enlarge Name: gbp usd 4h 1 7 11.png Size: 81 KB
  • #6,753
  • Jun 30, 2011 8:40pm Jun 30, 2011 8:40pm
Quoting eelfranz
4x trading is ....
Thanks for the encouragement big E.
Glad your back.
  • #6,754
  • Jun 30, 2011 10:04pm Jun 30, 2011 10:04pm
Quoting MeLe
Hi Freebeans
I have the trend indicator on my charts and was also wanting to get rid of information at top left, got fed up and decided to remove the indicator, but when I did that only the information was removed and the lines stayed on my charts, have been there several days now with the lines only as I wanted. Try it on a chart that you are not using, also I removed the two outer lines as they are stop loss lines
Hope it helps
Regards

Looks like that worked.
  • #6,755
  • Jun 30, 2011 10:19pm Jun 30, 2011 10:19pm
see...
Attached Image (click to enlarge)
Click to Enlarge Name: 33.PNG Size: 40 KB
  • #6,756
  • Jun 30, 2011 10:30pm Jun 30, 2011 10:30pm
From my umpteen hours/days pouring over hot charts both live and back testing, etc. I would say that once you are past the 9am to 10am PST, so several hours after the US news releases, it is pretty much all done until the evening.

Most active times are from 9pm/10pm PST through London opening and Euro news events so trading the Euro opening times is great to pick up the overnight swings (from us west coast ponts of view).

Not that keen on trading through the US news releases as these can reverse the overnight swings, so closing trades at 6am is good for me, especially if you see pull back on the 30M/1H charts.
"To live with Passion, it takes Courage and Grace to survive"
  • #6,757
  • Jun 30, 2011 10:33pm Jun 30, 2011 10:33pm
Waiting for the candle to form after 9pm pst on the folowing:

aud/usd - already short from 5pm
nzd/usd short
aud/jpy chort
gbp/aud long

sort of putting all the eggs in one basket so need a strong signal on tdi and candles to run with them all
"To live with Passion, it takes Courage and Grace to survive"
  • #6,758
  • Jun 30, 2011 10:40pm Jun 30, 2011 10:40pm
Quoting Britpip7
Waiting for the candle to form after 9pm pst on the folowing:

aud/usd - already short from 5pm
nzd/usd short
aud/jpy chort
gbp/aud long

sort of putting all the eggs in one basket so need a strong signal on tdi and candles to run with them all
Where did you place your pending order at for the AU? The bottom of the wick from the 1st RED candle or where? Just trying to compare what I see to you? You use InterbankFX correct?

I am short on that as well.
  • #6,759
  • Jun 30, 2011 10:48pm Jun 30, 2011 10:48pm
I placed my pending just below the wick of the 23:00 candle on the 1H and it triggered on the 01:00 candle.

On reflection, not the best of entries and mostly based on the 4H set up and the TDI pushing through the 50 on the 1H.
"To live with Passion, it takes Courage and Grace to survive"
  • #6,760
  • Jun 30, 2011 11:30pm Jun 30, 2011 11:30pm
Quoting Britpip7
I placed my pending just below the wick of the 23:00 candle on the 1H and it triggered on the 01:00 candle.

On reflection, not the best of entries and mostly based on the 4H set up and the TDI pushing through the 50 on the 1H.
Are you short on any of the pairs you mentioned earlier? NZD/USD?
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