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Trading Made Simple

  • #7,461
  • Edited 9:55am Jul 7, 2011 9:38am | Edited 9:55am
I am long this on the 1HR TF, is going well, locked in 200 pips profit and letting it ride up

Also long EU/GBP at +200 --makes up for some losers earlier this week

Thanks BigE
  • #7,462
  • Jul 7, 2011 9:42am Jul 7, 2011 9:42am
Current trades on:

short gbpaud
short usdcad

Watching:

eurusd
eurjpy
gbpjpy
eurgbp
  • #7,463
  • Jul 7, 2011 9:46am Jul 7, 2011 9:46am
Bez - you didn't like eurchf?

Quoting bez3000
Current trades on:

short gbpaud
short usdcad

Watching:

eurusd
eurjpy
gbpjpy
eurgbp
  • #7,464
  • Jul 7, 2011 9:51am Jul 7, 2011 9:51am
Quoting TheMaxx
Bez - you didn't like eurchf?
No Daily trend is down even with a big retracement and with such a big move think i would have missed the boat anyway.
This trade may have tempted me 80 pips ago but i never chase a trade.
But the daily trend would probably have put me of anyway.
  • #7,465
  • Jul 7, 2011 9:57am Jul 7, 2011 9:57am
Quoting bez3000
No Daily trend is down even with a big retracement and with such a big move think i would have missed the boat anyway.
This trade may have tempted me 80 pips ago but i never chase a trade.
But the daily trend would probably have put me of anyway.
Hi Bez, I was looking at the daily too before deciding on entering on H4, but The7 suggested to look at the weekly for trend confirmation if you're trading the H4 a few posts back. I'm experimenting with taht as of today. Whats your opinion on checking daily or weekly before entering on h4?

Edit: found the posts:
http://www.forexfactory.com/showthre...59#post4756159
http://www.forexfactory.com/showthre...83#post4756183
  • #7,466
  • Jul 7, 2011 9:58am Jul 7, 2011 9:58am
Quoting bez3000
Current trades on:

short gbpaud
short usdcad

Watching:

eurusd
eurjpy
gbpjpy
eurgbp

Hi BEZ, i want to ask, what do you wait for take this?
eurusd
eurjpy
gbpjpy
eurgbp

Do you wait for a strong cross?
  • #7,467
  • Jul 7, 2011 10:04am Jul 7, 2011 10:04am
Quoting bez3000
No Daily trend is down even with a big retracement and with such a big move think i would have missed the boat anyway.
This trade may have tempted me 80 pips ago but i never chase a trade.
But the daily trend would probably have put me of anyway.
Thanks.
  • #7,468
  • Jul 7, 2011 10:06am Jul 7, 2011 10:06am
Quoting dcginc
Here is a copy of my chart. ATR is next to the TDI data in the Indicator Window. The is the standard ATR that comes with MT4 set to 7 period and color to "None" dragged on top of the TDI indicator.

JUSIUR - thanks for the upload instructions!
When the ATR shows four decimal points - as in, for example, 0.4421, I'm assuming we use the first two - ie. 44 in this example?
  • #7,469
  • Jul 7, 2011 10:06am Jul 7, 2011 10:06am
Quoting Pecunia
Hi Bez, I was looking at the daily too before deciding on entering on H4, but The7 suggested to look at the weekly for trend confirmation if you're trading the H4 a few posts back. I'm experimenting with taht as of today. Whats your opinion on checking daily or weekly before entering on h4?

Edit: found the posts:
http://www.forexfactory.com/showthre...59#post4756159
http://www.forexfactory.com/showthre...83#post4756183
That's good advice from the7 and yes i sometimes check the monthly as well, i think the more information you can gather the more informed choice you can make.
  • #7,470
  • Jul 7, 2011 10:07am Jul 7, 2011 10:07am
Quoting sachigi
Hi BEZ, i want to ask, what do you wait for take this?
eurusd
eurjpy
gbpjpy
eurgbp

Do you wait for a strong cross?
Check back through my posts mate and i list my entry requirements
  • #7,471
  • Jul 7, 2011 10:08am Jul 7, 2011 10:08am
Quoting pecunia
waited for it break the 116.50 level +15 pips now, looking for 30 to 40pips on this one...
be carful now. Usd/jpy and eur/usd both may come down now.
  • #7,472
  • Jul 7, 2011 10:10am Jul 7, 2011 10:10am
Quoting bez3000
Current trades on:

short gbpaud
short usdcad

Watching:

eurusd
eurjpy
gbpjpy
eurgbp
bez, you in those trade, or still waiting?
  • #7,473
  • Jul 7, 2011 10:14am Jul 7, 2011 10:14am
Will it go to the weekly R1 or would you wait for the TDI to signal an exit?
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPY 4HR 7-7-11.jpg Size: 142 KB
  • #7,474
  • Jul 7, 2011 10:15am Jul 7, 2011 10:15am
Quoting PreetEnzo
bez, you in those trade, or still waiting?
Waiting another 45 mins as i do like to see how the current candle closes before jumping in.
No rush if i enter correctly there will be plenty of pips so taking my time.
  • #7,475
  • Jul 7, 2011 10:17am Jul 7, 2011 10:17am
Quoting ramses2
be carful now. Usd/jpy and eur/usd both may come down now.
I'm not in those trades dude. I'm long eurjpy +26 now and no signs of coming down.
  • #7,476
  • Jul 7, 2011 10:18am Jul 7, 2011 10:18am
Quoting bez3000
Check back through my posts mate and i list my entry requirements
I thought that I'd do just that...598 posts. Went down the first few pages, no result except perhaps that you trade it as laid down by the thread starter.
  • #7,477
  • Jul 7, 2011 10:24am Jul 7, 2011 10:24am
Quoting Phreddy
I thought that I'd do just that...598 posts. Went down the first few pages, no result except perhaps that you trade it as laid down by the thread starter.
Found them. I use the same rules exept from rule 1. which is now weekly for me:

1. Trading with the trend, if Daily is trending don't trade against it (it will win).
2. Good angled cross on TDI.
3. Cross below 50 if long or above 50 if short.
4. Good looking candle with wick.
5. Not trading straight into SR.

adusd
eurchf
eurjpy
chfjpy
gbpjpy
gbpchf
audcad
euraud
eurcad
audjpy
nzdjpy
gbpcad
audnzd
gbpaud
cadchf
cadjpy
usdcad
usdchf
eurgbp
nzdusd
gbpusd
usdjpy
eurusd
  • #7,478
  • Jul 7, 2011 10:30am Jul 7, 2011 10:30am
Quoting ramses2
be carful now. Usd/jpy and eur/usd both may come down now.
I agree Ramses2. Just about to short E/U on 15 min and already short G/U.

Corection, just shorted and up +14. Stop to B/E
Short Euro and remaining that way. That's just the way it is !
  • #7,479
  • Jul 7, 2011 10:32am Jul 7, 2011 10:32am
Hello Fellow Traders.
I feel ashamed to say that I have been lurking in the background, soaking it all up and feeling pretty much like I had nothing to contribute. It was all being said better and faster by other people and all I could do is hang on.
So this is my attempt to give back and help all the Newbie’s and maybe even some Old Timers by posting the MT4 Chart management Tips and Tricks in an attachment following below. I also share what have been for me some hard won insights concerning good trading practices.
It has occurred to me that this may not be the proper Thread to post this on, but as I read the various posts here on TMS, the best forum on FF, I came to believe that this will be a welcome addition. There have been some unnecessary repetitive questions regarding some very basic chart and platform management questions by some new and not so new struggling traders. These, I hope are addressed and put to rest in this document.
While this is directed mostly at beginners, I guarantee that even some seasoned pros will gain some insights here.
Good luck and good trading
FXArcher
Attached File(s)
File Type: doc MT4 Metatrader Tips & Tricks.doc   84 KB | 3,117 downloads
  • #7,480
  • Jul 7, 2011 10:47am Jul 7, 2011 10:47am
Quoting Pecunia
Found them. I use the same rules exept from rule 1. which is now weekly for me:

1. Trading with the trend, if Daily is trending don't trade against it (it will win).
2. Good angled cross on TDI.
3. Cross below 50 if long or above 50 if short.
4. Good looking candle with wick.
5. Not trading straight into SR.

adusd
eurchf
eurjpy
chfjpy
gbpjpy
gbpchf
audcad
euraud
eurcad
audjpy
nzdjpy
gbpcad
audnzd
gbpaud
cadchf
cadjpy
usdcad
usdchf
eurgbp
nzdusd
gbpusd
usdjpy
eurusd
Could you or some "define" a little more widely rules 4 and 5? I say that for many new or inexperienced (perhaps like me) may be concepts of "subjective" and could take from a different perspective.
Likewise, the rule two might be a little more precise? for example: angle greater than 1.5, or less than 2.5 OR/AND Prev. slope no less than . . . you got the idea.
Please dont send me to babypips
I Hope dont bother you
Thanks in advance.
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