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Trading Made Simple

  • #7,781
  • Jul 11, 2011 11:16pm Jul 11, 2011 11:16pm
In an effort to understand PA better, and when we should be staying out of the market (choppy market conditions, support/resistance, consolidation periods, etc) I have taken a screen shot and tried to indicate what I thought would be good and bad trades.

These trades are solely based on a cross of the TDI and recent price action. They do not take into account the angle of the TDI, what the stochs is doing, or anything else.

Hopefully the screen shot is self explanatory and shows why I thought some trades would be good or bad based solely on PA and a TDI cross.

I tried to be as objective as possible and only consider the candles that appear before the cross, and not the candle where the cross occurred because it shows what a candle looks like at CLOSE not OPEN.

This is a learning tool for me (and others) so please tell me if I got anything wrong, or if I should have entered more/less trades and why.

Green Arrow - I took the trade
Black Arrow - I did not take the trade, and it points to the reason why.
Black horizontal lines - Show the areas of support/Resistance that I am referring to.
Attached Image (click to enlarge)
Click to Enlarge Name: PA Examples On Chart.GIF Size: 34 KB
  • #7,782
  • Jul 11, 2011 11:20pm Jul 11, 2011 11:20pm
Quoting 0Bid
waiting for TDI to (Green to Cross the red going up )
I am looking the same opportunity as u on CHF, but think that 1AM est to make decision whether to long. Accordin to BigE, he kinda look at chart that time. According to rules, it should be a Long on UsdCHF.
But since counter to Daily and weekly chart. i propose to eat 40-50pips enuf.
  • #7,783
  • Jul 11, 2011 11:25pm Jul 11, 2011 11:25pm
Latest updates and still counting easy pips ...Laugh Laugh Laugh


shorted 4H EUR/GBP and now over 120 Pips in profit
shorted 4H AUD/USD and now over 130 pips in profit
Bought 4H USD/CAD and now over 100 pips in profit
shorted 4H EUR/JPY and now over 370 Pips in profit
shorted 4H GBP/JPY and now over 180 PIPs in profit


use KISS method .... keep in short and simple


I am closing all the above trades as I have hit my target for this week .



Quoting Ibz
My current trades and still counting the pips

shorted 4H EUR/GBP and now over 100 Pips in profit
shorted 4H AUD/USD and now over 90 pips in profit
Bought 4H USD/CAD and now over 80 pips in profit
shorted 4H EUR/JPY and now over 240 Pips in profit
shorted 4H GBP/JPY and now over 130 PIPs in profit


Laugh laugh laugh ....
  • #7,784
  • Jul 11, 2011 11:25pm Jul 11, 2011 11:25pm
+0.00025 < --- I bailed on usd/chf took a 6 cent profit on it. I left because the slope tilted over as if it was going flat. I probably could have taken .0005 on it, but I got to my chart late after the hour new candle :/
  • #7,785
  • Jul 11, 2011 11:44pm Jul 11, 2011 11:44pm
Quoting blackhand
I am looking the same opportunity as u on CHF, but think that 1AM est to make decision whether to long. Accordin to BigE, he kinda look at chart that time. According to rules, it should be a Long on UsdCHF.
But since counter to Daily and weekly chart. i propose to eat 40-50pips enuf.
yes I'm waiting 1Am EST to enter long according to the rules. however my target will be around 90 as shown on the chart below but also will use trailing stop just in case
Attached Image (click to enlarge)
Click to Enlarge Name: usdchf4h.gif Size: 22 KB
  • #7,786
  • Jul 11, 2011 11:57pm Jul 11, 2011 11:57pm
Quoting 0Bid
yes I'm waiting 1Am EST to enter long according to the rules. however my target will be around 90 as shown on the chart below but also will use trailing stop just in case
Guys, what about S/R level around .8380. Do you guys take that into consideration, Also its against the daily trend.
  • #7,787
  • Jul 12, 2011 12:12am Jul 12, 2011 12:12am
Quoting PreetEnzo
Guys, what about S/R level around .8380. Do you guys take that into consideration, Also its against the daily trend.
yah I am, but will see how it plays out.. Im using Demo with this trade but i expect this will be a correction move to 61%fib level.
  • #7,788
  • Jul 12, 2011 12:44am Jul 12, 2011 12:44am
Still looking for comfort setting in TF5...May somebody give a idea?
  • #7,789
  • Jul 12, 2011 1:33am Jul 12, 2011 1:33am
Quoting 0Bid
i know, but i existed because when i opened my position i put take profit to closest resistance and went out. when i came back it's already hit the target..
its first time applying this system with more practice will take more pips.
A great quote on the chart from a man with the experience you seek
Attached Image (click to enlarge)
Click to Enlarge Name: nzd-usd-3.gif Size: 46 KB
OPPORTUNITY IS NOWHERE
  • #7,790
  • Jul 12, 2011 1:48am Jul 12, 2011 1:48am
Quoting Vegas382
Took this at opening of todays candle...look at candle prior, tds cross and angle, previous candle. Thanks adeforex...(check out the posts) up 60 pips as I write.
Thats cool ride.Congrats as i wish you more pips ahead. You can see the beauty of patience in trading. Always let signals and best set ups come to you and never rush to meet signals. In this, you will always win.
We Win Some, We Loose Some, But Let your Win Rates be More to be Successful
  • #7,791
  • Jul 12, 2011 1:51am Jul 12, 2011 1:51am
Quoting qetug
Still looking for comfort setting in TF5...May somebody give a idea?
Whoa, they will razz you out of here for even mention 5 minute charts !!!

Better you seek another system, not saying but there are some good ones out there, use a bit of price action with them and away you go!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: aus-usd-1.gif Size: 40 KB
Click to Enlarge Name: eur-usd-1.gif Size: 36 KB
OPPORTUNITY IS NOWHERE
  • #7,792
  • Jul 12, 2011 1:55am Jul 12, 2011 1:55am
Quoting Callisto
Whoa, they will razz you out of here for even mention 5 minute charts !!!

Better you seek another system, not saying but there are some good ones out there, use a bit of price action with them and away you go!


yip, most likely the 5 minute will get you murdered ! LOTS of noise
  • #7,793
  • Jul 12, 2011 2:01am Jul 12, 2011 2:01am
Quoting Ibz
Latest updates and still counting easy pips ...Laugh Laugh Laugh


shorted 4H EUR/GBP and now over 120 Pips in profit
shorted 4H AUD/USD and now over 130 pips in profit
Bought 4H USD/CAD and now over 100 pips in profit
shorted 4H EUR/JPY and now over 370 Pips in profit
shorted 4H GBP/JPY and now over 180 PIPs in profit


use KISS method .... keep in short and simple


I am closing all the above trades as I have hit my target for this week .

Very nice Ibz great work.
What you do is a reflection of you....what I do is a reflection of me.
  • #7,794
  • Jul 12, 2011 2:05am Jul 12, 2011 2:05am
Hope you have many PIPS as well .
  • #7,795
  • Jul 12, 2011 2:08am Jul 12, 2011 2:08am
Thanks, just got home from work, looking for entries at this moment, however, happy to wait for a good one to come along.

Only trading one trade at the time.......for now.

Cheers
What you do is a reflection of you....what I do is a reflection of me.
  • #7,796
  • Jul 12, 2011 2:27am Jul 12, 2011 2:27am
FIRST TRADE FOR THE WEEK TP= 100 PIPS.
Though more room potentially, i cant risk to loose some pips again cos i am trading live. Hope many mates were able to ride smoothly.
Expect some bounces set-ups soon.
I always wait for good day.SIMPLICITY AND PATIENCE IS THE KEY!!!!!
Attached Image (click to enlarge)
Click to Enlarge Name: g.gif Size: 33 KB
We Win Some, We Loose Some, But Let your Win Rates be More to be Successful
  • #7,797
  • Edited 3:03am Jul 12, 2011 2:32am | Edited 3:03am
Quoting adeforex
FIRST TRADE FOR THE WEEK TP= 100 PIPS.
Though more room potentially, i cant risk to loose some pips again cos i am trading live. Hope many mates were able to ride smoothly.
I always wait for good day.SIMPLICITY AND PATIENCE IS THE KEY!!!!!
I'm now on +240
Sell EU GU EG ECad CadJ NU
Buy UCad




unbelievable +585 pips!
beautiful awakening
  • #7,798
  • Jul 12, 2011 2:34am Jul 12, 2011 2:34am
Hello!
I wanted to ask you if you use only the monthly pivot (on the daily chart) or even the weekly pivot (on 4h chart) and daily (on 1 hour chart)

because I noticed that if I study the trends monthly and weekly no need of small pivot .. For example in this figure .. Weekly trend corresponds to the daily and weekly pivot of smaller tf

than can I remove the small pivot in 1h and 4h, and look only at the monthly pivot(on daily chart) and use the big trends as RS on small tf?
Attached Image (click to enlarge)
Click to Enlarge Name: Schermata 2011-07-12 a 09.08.06.png Size: 138 KB
  • #7,799
  • Edited 3:21am Jul 12, 2011 3:11am | Edited 3:21am
Quoting Danyjoe
Hello!
I wanted to ask you if you use only the monthly pivot (on the daily chart) or even the weekly pivot (on 4h chart) and daily (on 1 hour chart)

because I noticed that if I study the trends monthly and weekly no need of small pivot .. For example in this figure .. Weekly trend corresponds to the daily and weekly pivot of smaller tf

than can I remove the small pivot in 1h and 4h, and look only at the monthly pivot(on daily chart) and use the big trends as RS on small tf?
I dont know how other traders trade, but personally, i dont use any pivot levels. If i see a potential set ups, say on 4hr chat, i first of all, check (prior and after signal chats)1hr and daily, and for daily, i check 4hr and weekly to see what is happening as in may be is good to trade against or trade along the trend (s/r),before pulling the trigger. But i dont even have monthly chat on my platform because the more you look ,the more you see reason not to trade. The most important thing is that to look at the position of tdi as in, how close/far to 68/32/50 lines with support/resistance regions.
And lastly, i check the momentum or volume of the signal candle, then you may be thinking you are doing the right or wrong thing. If you consider these things most , right signals will always come to you most of the time and you will not need to run to signals. If you know how to use ATR value, it is also good for potential tp.
We Win Some, We Loose Some, But Let your Win Rates be More to be Successful
  • #7,800
  • Jul 12, 2011 3:11am Jul 12, 2011 3:11am
Here is a trade that just closed on the NZD/USD. I entered yesterday morning on the 1 Hr. Three hours later, I got a signal for the same trade on the 4 Hr chart, so I used the 4 Hr ATR for profit targets.
ATR = 46
Target 1 = 2 ATR = 92 pips - Target 1 attained.
Target 2 = 4 ATR = 184 pips - Target 2 attained.
There is a common school of thought that says you should let profits run. That is true , but is also very arbitrary. Most traders, including me, have a difficult time seeing a trade up over 100 pips without getting the temptation to close out the trade or at least a portion of it. Without a specific calculation, I could not sit still and let a trade continue.
I set targets based on the empirical calculation of ATR so that 1) I lessen the frequency to "manage" my stop and the trade overall, 2) I expose my capital to risk for an amount of time that is acceptable for my trading personality and 3) the probability of hitting my targets is very high. Using ATR, at least for me, is a very consistent way to attack the market without succumbing to the temptation or anxiety of wondering when to close my positions. I don't worry about pivots, fibs, etc.
There are some great traders on this thread with multiple trades making a lot more pips, and for them that is fantastic! They have mastered the art of multitasking and have the capital to risk. I am envious.
It just does not suit me and I have long gotten over worrying about missed additional opportunities. I refuse to look back and say woulda, coulda, shoulda, There will always be plenty of other trades. For me, I don't want the additional risk and capital exposure. 3-5 trades per week is plenty for me. 6-10 is a busy week. You can make a great living with just a few good trades a week and a loss here and there won't effect you.
Attached Image (click to enlarge)
Click to Enlarge Name: nzd usd 7.1.11.jpg Size: 108 KB
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