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Trading Made Simple

  • #8,481
  • Jul 20, 2011 2:59am Jul 20, 2011 2:59am
Quoting 2scoops
I agree with Bez that the daily trend is the most important on the 4HR (being the next TF up). Its a very nice bonus if the weekly and even the monthly is going in the same direction as our trade but waiting for this would rule out too many trades. I also like bez's 50 rule (only take longs below the 50 and shorts above the 50 on the TDI).
I dont think you get what I mean. I agree that its a good idea to see what the timeframe above is doing. My point was.....are you saying that you consider one candle enough to determine your trend??
FOr example.....lets say you have ll the criteria set up nicely for a BUY on your 4 hour chart. You then click up to your daily and look for what?? just the last candle to be blue??? Do you get what I am saying...see this chart....the very last candle is blue, but the overall trend is really down not up wouldnt you agree??
so you are saying just the last candle colour on the daily chart is all you look at??
Attached Image (click to enlarge)
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  • #8,482
  • Jul 20, 2011 3:05am Jul 20, 2011 3:05am
Quoting 33drifter
Dean,

havent seen you round these parts for a week or so, good to see you back.

Its by no means a concrete method, but its what im using at the moment. I look at the last few weekly bars when trading H4 charts. the attached chart is what i would consider a good down down trend.

the over all trend is down , but more importantly, the last few bars are making LL's, the tdi has also crossed down which is a bonus.
Howdy drifter, and thanks....good to be back....still not trading.
Yep that explanation actually brings back to me the true meaning of trend....higher highs and lower lows, there is so much info you need to take in you can forget the basics at times. I read earlier soemwhere that someone else also ignored the daily and used the weekly for trend when trading the 4 hour charts and it changed everything for the better (it may have been you??) I might try that too. Thanks mate.
  • #8,483
  • Jul 20, 2011 3:25am Jul 20, 2011 3:25am
Quoting dean
I dont think you get what I mean. I agree that its a good idea to see what the timeframe above is doing. My point was.....are you saying that you consider one candle enough to determine your trend??
FOr example.....lets say you have ll the criteria set up nicely for a BUY on your 4 hour chart. You then click up to your daily and look for what?? just the last candle to be blue??? Do you get what I am saying...see this chart....the very last candle is blue, but the overall trend is really down not up wouldnt you agree??
so you are saying just the...
For me if all other rules were met (BigE's rules and Bez's fine tunings) i'd be happy to trade, yes. You can eyeball it as drifter says, or use something like the non repainting version supertrend indicator, or the HA MTF indicator I use. Its what best suits you, you may decide trend isn't important at all.
  • #8,484
  • Jul 20, 2011 3:29am Jul 20, 2011 3:29am
Quoting gh16
Hey guys,

I'm looking at this possible long trade on EURGBP. Waiting for a third candle to confirm though (the first candle isn't strong enough for me)

My thoughts on the trade are:

 

  1. Good TDI angle
  2. Good TDI level (crossed at approx 37)
  3. Higher lows all in pattern

Any comments much appreciated.

Cheers

How's that looking now? Easy to catch a move with breakout method

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  • #8,485
  • Jul 20, 2011 4:10am Jul 20, 2011 4:10am
I just entered those two trades:
short EUR/JPY @111.76
short AUD/JPY @84.64

What do you guys think?
Attached Image(s) (click to enlarge)
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The Mind creates reality.
  • #8,486
  • Jul 20, 2011 5:04am Jul 20, 2011 5:04am
Quoting fxarcher
...I have noticed in the past that the tip of the TDI, in this case the white on the Watchdog has a tendency to retract just slightly when price goes against it. I believe this is true on any standard TDI also. Even so it does not repaint. I assure you that the cross looked a lot more convincing on that chart than it does now. In addition the Watchdog indicated a Red cross at a very good angle. Now in retrospect the cross looks very weak.

[font=Times New Roman][size=3]If...
If I understand you correctly, I think you are saying that the TDI indicator does not always move with the price, or does not behave correctly in some way. I found similar problems with it when backtesting using the sim.

I posted this question a couple of months ago and someone (can't remember who or I would give credit) gave me an updated indicator that behaves correctly. I do not know anything about the difference in programming but I tested it visually against the original indi and it looks identical, and I use it on live charts. It's called TMS-OSC.

Here it is if you would like to try it.
Attached File(s)
File Type: mq4 TMS-Osc.mq4   4 KB | 764 downloads
Luck occurs when preparation meets with opportunity.
  • #8,487
  • Jul 20, 2011 5:19am Jul 20, 2011 5:19am
Quoting DayTraderBiH
I just entered those two trades:
short EUR/JPY @111.76
short AUD/JPY @84.64

What do you guys think?
Hi,

I always take the trade when the last candle closed below or above the 5 EMA, shift, 0.

I don't think AUDJPY didn't close below.

I have programmed an EA to take 15 minute trades, the only problem at the minute is measuring the TDI angle, but I have programed it to only take a trade if price closes below or above the 5 EMA, it's been testing it, for 4 days now and the results are excellent, 12 losses and 175 wins, TP 10 pip, SL 100 pips.

Best Regards
Andy
  • #8,488
  • Jul 20, 2011 5:26am Jul 20, 2011 5:26am
I will add the close below/above the 5 EMA to my trading rules.
Thanks for your comment.
The Mind creates reality.
  • #8,489
  • Edited 5:49am Jul 20, 2011 5:34am | Edited 5:49am
Quoting dean
I read earlier soemwhere that someone else also ignored the daily and used the weekly for trend when trading the 4 hour charts and it changed everything for the better.
That was me. still doing ok with that method, had a bit of a blow out at the begining of the week but learnt my lessons and moving forward again.

Ive attached another chart. I would say over all the trend is flat or ranging, however if you look at the last 3 weeks you can see the sellers have dominated the market, i would only look to sell this currency.

Also tdi has crossed down and stoch looks good too.

i would highly recommend pulling up any strong trending pair (anything chf will do) look at weekly chart and mark where the trend starts and finishes, then drop to H4 and look at every cross a in between those points in the direction of the trend, almost all of them will make a 1:1 profit
Attached Image (click to enlarge)
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  • #8,490
  • Jul 20, 2011 5:47am Jul 20, 2011 5:47am
Quoting Asw
Hi,

I always take the trade when the last candle closed below or above the 5 EMA, shift, 0.

I don't think AUDJPY didn't close below.

I have programmed an EA to take 15 minute trades, the only problem at the minute is measuring the TDI angle, but I have programed it to only take a trade if price closes below or above the 5 EMA, it's been testing it, for 4 days now and the results are excellent, 12 losses and 175 wins, TP 10 pip, SL 100 pips.

Best Regards
Andy
Do you mind to share your EA with us?
  • #8,491
  • Jul 20, 2011 5:48am Jul 20, 2011 5:48am
Probly will take the Aud/Cad in 10 min. Looks good to me
  • #8,492
  • Jul 20, 2011 6:51am Jul 20, 2011 6:51am
Quoting fxarcher
While I believe back testing is a good idea to practice the assessments of valid trades a word of caution is in order when dealing with refreshed charts, or even charts that have not been refreshed.





As shown by the example below looking at the chart on the right (Not refreshed), I was considering a Short entry on the 07 19 20 00 4Hr candle on FXDD, and I became concerned about a couple of things:[list][*][font=Times New Roman][size=3]The TDI was just...

Had the same problem just now. I took the Aud/Cad where my coditions ware mate and turned of MT. When i turned ot back on to check there is no cros where it was.

Can anybo tell me how to deal wit this??
  • #8,493
  • Jul 20, 2011 7:18am Jul 20, 2011 7:18am
Quoting Asw
Hi,

I always take the trade when the last candle closed below or above the 5 EMA, shift, 0.

I don't think AUDJPY didn't close below.

I have programmed an EA to take 15 minute trades, the only problem at the minute is measuring the TDI angle, but I have programed it to only take a trade if price closes below or above the 5 EMA, it's been testing it, for 4 days now and the results are excellent, 12 losses and 175 wins, TP 10 pip, SL 100 pips.

Best Regards
Andy
Stop loss 100 with a take profit of 10....wow!! fantastic RR.
No offence but that is ludicrous. you will be broke before you know it if you are not careful.
  • #8,494
  • Jul 20, 2011 7:28am Jul 20, 2011 7:28am
Quoting 33drifter
That was me. still doing ok with that method, had a bit of a blow out at the begining of the week but learnt my lessons and moving forward again.

Ive attached another chart. I would say over all the trend is flat or ranging, however if you look at the last 3 weeks you can see the sellers have dominated the market, i would only look to sell this currency.

Also tdi has crossed down and stoch looks good too.

i would highly recommend pulling up any strong trending pair (anything chf will do) look at weekly chart and mark where the trend starts...
cheers drift
  • #8,495
  • Jul 20, 2011 7:53am Jul 20, 2011 7:53am
Quoting cyddus
Do you mind to share your EA with us?
When I finished testing, if all is ok, you are welcome a copy.
  • #8,496
  • Jul 20, 2011 7:56am Jul 20, 2011 7:56am
Quoting 33drifter
That was me. still doing ok with that method, had a bit of a blow out at the begining of the week but learnt my lessons and moving forward again.

Ive attached another chart. I would say over all the trend is flat or ranging, however if you look at the last 3 weeks you can see the sellers have dominated the market, i would only look to sell this currency.

Also tdi has crossed down and stoch looks good too.

i would highly recommend pulling up any strong trending pair (anything chf will do) look at weekly chart and mark where the trend starts...
After the event it will as the trend is clear. The trick is the start of that trend change on 4hr which may only show in a W chart 1, 2 or 3 weeks later.

For the most part bez and some others have suggested follow D chart, good advice. Or if going with an established trend chances are good that 1 4hr candle back into trend direction will give a trade. Counter trend moves often take several candles to form.
  • #8,497
  • Edited 8:21am Jul 20, 2011 7:58am | Edited 8:21am
Quoting dean
Stop loss 100 with a take profit of 10....wow!! fantastic RR.
No offence but that is ludicrous. you will be broke before you know it if you are not careful.
Still testing it, I'll let you know if it blows the account, I'm also testing on a Daily, so far this week up 3% TP 100, SL 200.
  • #8,498
  • Jul 20, 2011 8:04am Jul 20, 2011 8:04am
Quoting DayTraderBiH
I just entered those two trades:
short EUR/JPY @111.76
short AUD/JPY @84.64

What do you guys think?
Closed both trades with -35 and - 17 pips loss.
It would be very helpfull if someone of the more experienced trades can help me to figure out what I did wrong with the trades, cause both were by the rules.
The Mind creates reality.
  • #8,499
  • Jul 20, 2011 8:09am Jul 20, 2011 8:09am
Try, any comment ?
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  • #8,500
  • Jul 20, 2011 8:18am Jul 20, 2011 8:18am
I am no expert - also i think someone responded to you a couple of pages back metioning that your candles didnt close the right side of the ema - cheers wm
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