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Trading Made Simple

  • #8,201
  • Jul 15, 2011 3:59am Jul 15, 2011 3:59am
Quoting DaveUK
Currently eyeing that pair but I'd want it to make a clear break of 1.4100 support first.
Iam looking at the moment the GBPUSD. Waiting for the 5SMA to start turning down with the candle close below.
Would be entering position SL100 / TP 65
Attached Image
  • #8,202
  • Jul 15, 2011 3:59am Jul 15, 2011 3:59am
Possible bounce trade off daily support coming up for this pair?

Cheers,

Geoff
  • #8,203
  • Jul 15, 2011 4:31am Jul 15, 2011 4:31am
hello pls sm 1 guide me through on hw i can get d tdi into my fxopen chart
  • #8,204
  • Jul 15, 2011 4:50am Jul 15, 2011 4:50am
Go to post 7482 MT4 Tips and tricks
  • #8,205
  • Edited 8:43am Jul 15, 2011 5:26am | Edited 8:43am
Looks like several traders got in this trade sooner that I did on the 4 Hr. I waited and took my entry before the London open on the 15 M chart.

Remember from yesterday we had a triple top on the 4 Hr and head and shoulders on the 1 Hr. The head and shoulders on the 1 Hr turned into a double top and the 15M just displayed a head and shoulders with bearish divergence before London. Downward bias everywhere.

On the 15 M chart I had a beautiful cross and entered the trade at 1.07167. The 1 Hr was also confirming cross as well so I used the 1 Hr ATR of 30 for my Target 1 of 60 pips. Target 2 = 120.

Again, cognizant of the news later this morning, I wanted to get in and get out. Target 1 was attained right after the London open. I was stopped out on Target 2 as I had moved my stop to Target 1 +5 so settled for an additional 65 pips there. AUD/USD will still have lots of downward momentum and I may revisit another trade at the open for next week.

ATR = 30
Stop Loss = 60
Target 1 = 60 – attained.
Target 2 = 120 – stopped out for +65

Done for the week with a positive total of 971 pips on my last 6 trades with full lots. Pairs I traded and number of trades: EUR/USD 3 trades for a total of 378 pips (126, 138, 114). EUR/JPY 1 trade for 192 pips. NZD/USD 1 trade for 276 pips. AUD/USD 1 trade for 125 pips.

No losses in this round. I usually have at least 1 for every 5 or 6 trades, so a good run. As is typical, most of my profits were booked earlier in the week and most set ups occurred during the London market. Average duration of trades this week was 6.3 hours.

Thanks again all for your kind words. I’m turning off my computer.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 15 m aud usd chart 7.15.2011.gif Size: 48 KB
Click to Enlarge Name: 1 hr aud usd chart 7.15.2011.gif Size: 50 KB
  • #8,206
  • Edited 6:11am Jul 15, 2011 5:57am | Edited 6:11am
Actually, Great trading dcginc!

LR
  • #8,207
  • Jul 15, 2011 6:06am Jul 15, 2011 6:06am
Quoting dcginc
Looks like several traders got in this trade sooner that I did on the 4 Hr. .
Good job DC. Have a great weekend
  • #8,208
  • Jul 15, 2011 6:25am Jul 15, 2011 6:25am
Quoting dcginc

Done for the week with a positive total of 971 pips on my last 6 trades with full lots. Pairs I traded and number of trades: EUR/USD 3 trades for a total of 378 pips (126, 138, 114). EUR/JPY 1 trade for 192 pips. NZD/USD 1 trade for 276 pips. AUD/USD 1 trade for 125 pips.

No losses in this round.
Wow dcginc,

great, you achieved something I dream of

Wish you a lot of pips in the future
  • #8,209
  • Jul 15, 2011 7:48am Jul 15, 2011 7:48am
Well as my first week of live trading finishes i am glad to report +640 pips of real money in my account.
I finally believe i can make it as a trader the feeling of winning live trades is fantastic.
Thanks everyone and have a great weekend.
  • #8,210
  • Jul 15, 2011 7:49am Jul 15, 2011 7:49am
Great, well done beeez

Quoting bez3000
Well as my first week of live trading finishes i am glad to report +640 pips of real money in my account.
I finally believe i can make it as a trader the feeling of winning live trades is fantastic.
Thanks everyone and have a great weekend.
  • #8,211
  • Jul 15, 2011 8:03am Jul 15, 2011 8:03am
Guys, was it Eelfranz that said it was not recommended to trade on fridays? One way or another, second NY Session candle is opening and I haven´t spotted anything worth entering.

GPB/AUD could be a bouce, but it´s right over 5100.
GBP/USD is just about the same.
NZD/CHF seems to be leaving a congestion area with a TDI bounce, but spread is huge, and lots o fake crosses on previous bars.
  • #8,212
  • Jul 15, 2011 8:09am Jul 15, 2011 8:09am
Quoting maxtrader
Does anyone know if Big E take into consideration a good angle in a green bounces?
Thanks

I guess noone knows, maybe Big E could make it clear once he is here
Indicators always obey Price, not the other way.
  • #8,213
  • Jul 15, 2011 8:10am Jul 15, 2011 8:10am
dcginc
Congratulations for a great trading week
Enjoy the week end
  • #8,214
  • Jul 15, 2011 8:15am Jul 15, 2011 8:15am
Crossing angle is crucial for the setup, it has been discussed in different moments of the topic. Low slope crossings should not be traded. I´ve been around for a couple of weeks only just like you. Try looking better into the topic.

Quoting maxtrader
I guess noone knows, maybe Big E could make it clear once he is here
  • #8,215
  • Edited 8:41am Jul 15, 2011 8:30am | Edited 8:41am
Attached Image

I found an ATR indicator that shows pips instead of decimal value. Easier to read and it goes in the upper left corner. Sorry I can't find the mql, only have the ex4 for this one.

Bez...a great first week live!

dcginc.... inspiring week. Your comments and observations are helping me refine my trading. Many thanks!http://www.forexfactory.com/ATR%20Indicator.bmp

JR
Attached File(s)
File Type: ex4 ATR Pips UL corner.ex4   3 KB | 926 downloads
  • #8,216
  • Jul 15, 2011 8:54am Jul 15, 2011 8:54am
Quoting RogerVF
Crossing angle is crucial for the setup, it has been discussed in different moments of the topic. Low slope crossings should not be traded. I´ve been around for a couple of weeks only just like you. Try looking better into the topic.
Thanks I know that the angle is vital for a crossing but my question is that if it is vital for a bounce from the red line. These bounces are often taken by Big E but I have not been able to find anything related to the angle of those bounces.
Regards
Indicators always obey Price, not the other way.
  • #8,217
  • Jul 15, 2011 9:12am Jul 15, 2011 9:12am
Correct, maxtrader, this subject would be of my interest too.
  • #8,218
  • Jul 15, 2011 9:12am Jul 15, 2011 9:12am
Quoting bez3000
Well as my first week of live trading finishes i am glad to report +640 pips of real money in my account.
Great trading bez3000

If I can ask you for how long you traded this method on demo?

Thanks and regards
  • #8,219
  • Jul 15, 2011 10:17am Jul 15, 2011 10:17am
Took these trades for the last NY Session valid bar... 30pip target.
Attached Image (click to enlarge)
Click to Enlarge Name: trades 01.gif Size: 25 KB
  • #8,220
  • Jul 15, 2011 10:29am Jul 15, 2011 10:29am
Quoting itsam
Great trading bez3000

If I can ask you for how long you traded this method on demo?

Thanks and regards
Sure it's about three weeks but i have been learning and trading forex for about three years.
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