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Trading Made Simple

  • #8,501
  • Jul 20, 2011 8:27am Jul 20, 2011 8:27am
Quoting Vantage
After the event it will as the trend is clear.
Thats what back testing is all about
  • #8,502
  • Jul 20, 2011 8:43am Jul 20, 2011 8:43am
Quoting DayTraderBiH
I just entered those two trades:
short EUR/JPY @111.76
short AUD/JPY @84.64

What do you guys think?
AUDJPY:

I do not understand why you are out of this trade?
My stop would have been at the swing high 85.200?
But i would not have entered this trade due to the action on the Daily chart (I always check the Daily). On the daily the TDI is crossing for a long trade, this is not a time i would be going short.
Also my candle did not cross the MA as a long strong candle it's very short and stubby.

EURJPY:

Again on my charts candles are very small and have not actually crossed the MA. And yet again on the Daily price is crossing for a long, also looking to the left on the Daily it is sitting on a support area.
If we get a good push up on the pair i might trade the Daily long tomorrow.

Hope this help some
  • #8,503
  • Jul 20, 2011 8:51am Jul 20, 2011 8:51am
Thank a lot. Those are the kind of trades you learn from. I have to wait for the close below/above the EMA 5 and watch the Daily chart more carefully.
I think I would not enter those two trades, but I'm just observing the markets the last 2 day and I couldnt find a perfect entry, so I just jumped in.
The Mind creates reality.
  • #8,504
  • Jul 20, 2011 9:06am Jul 20, 2011 9:06am
Quoting DayTraderBiH
Thank a lot. Those are the kind of trades you learn from. I have to wait for the close below/above the EMA 5 and watch the Daily chart more carefully.
I think I would not enter those two trades, but I'm just observing the markets the last 2 day and I couldnt find a perfect entry, so I just jumped in.
I know that feeling all to well mate, and it's cost me loads of money. That's why i check my charts every 4h or so and if no trades i walk away.
I know it's easier said than done bu it's taken me years to learn that you don't have to always be in a trade to be a trader!
Walk away wait for the setup that meets your rules, don't lie to yourself about "well it meets some of my rules so it will be ok" sometimes it will be and sometimes it won't but you are just gambling.
  • #8,505
  • Jul 20, 2011 9:06am Jul 20, 2011 9:06am
Anyone in?
Attached Image (click to enlarge)
Click to Enlarge Name: chfjpy july 20.gif Size: 20 KB
  • #8,506
  • Jul 20, 2011 9:07am Jul 20, 2011 9:07am
Quoting imperatorfr
Try, any comment ?
I am in the same trade mate
  • #8,507
  • Jul 20, 2011 9:18am Jul 20, 2011 9:18am
Quoting bishopdotun
Anyone in?
  • #8,508
  • Jul 20, 2011 9:26am Jul 20, 2011 9:26am
Out of interest bishop 'n' Bez ... tell me to mind my own here if you like. But where were your stops on that one? TIA wm
Sleeping boys catch no fish
  • #8,509
  • Jul 20, 2011 9:35am Jul 20, 2011 9:35am
Quoting wmloto
Out of interest bishop 'n' Bez ... tell me to mind my own here if you like. But where were your stops on that one? TIA wm
95,700
  • #8,510
  • Jul 20, 2011 9:39am Jul 20, 2011 9:39am
Quoting bishopdotun
Anyone in?

Hi bishop, how abou] those files
  • #8,511
  • Jul 20, 2011 9:39am Jul 20, 2011 9:39am
Quoting bez3000
I am in the same trade mate
Hi bez
Thanks for all your posts.

The chfjpy trade, is there a reason you took that specifically as the D is crossed down.

Cheers.
  • #8,512
  • Jul 20, 2011 9:43am Jul 20, 2011 9:43am
thanks for that and your patience - last q - what target would i be right to consider97000 area - wont harass again, i wasn't in that trade but those kind of drops freeeeeek me right out - wm
Sleeping boys catch no fish
  • #8,513
  • Jul 20, 2011 9:45am Jul 20, 2011 9:45am
Quoting wmloto
Out of interest bishop 'n' Bez ... tell me to mind my own here if you like. But where were your stops on that one? TIA wm
ATR *2= 84 pips @95.300
Attached Image (click to enlarge)
Click to Enlarge Name: stoploss.gif Size: 18 KB
  • #8,514
  • Jul 20, 2011 9:48am Jul 20, 2011 9:48am
ta
Sleeping boys catch no fish
  • #8,515
  • Jul 20, 2011 9:56am Jul 20, 2011 9:56am
So that spike down (Sorry - 2 spikes down) on my platform - brokers hunting stops or doesn't that go on - playing with the fools on margin
Sleeping boys catch no fish
  • #8,516
  • Jul 20, 2011 10:01am Jul 20, 2011 10:01am
Quoting Vantage
Hi bez
Thanks for all your posts.

The chfjpy trade, is there a reason you took that specifically as the D is crossed down.

Cheers.
Yes zoom out on the daily and look at the strong uptrend, i want to be on that train
  • #8,517
  • Jul 20, 2011 10:05am Jul 20, 2011 10:05am
Quoting wmloto
thanks for that and your patience - last q - what target would i be right to consider97000 area - wont harass again, i wasn't in that trade but those kind of drops freeeeeek me right out - wm
On a trending pair like this i would not put a target, i will exit when HA candle changes color or the TDI crosses against me. I only really use S&R to exit in a range bound market, certainly not one trending as this is.
  • #8,518
  • Jul 20, 2011 10:06am Jul 20, 2011 10:06am
Quoting bez3000
Yes zoom out on the daily and look at the strong uptrend, i want to be on that train
Thanks I did see the D uptrend but there also seems a fairly significant triple top and massive sell divergence (not that divergence is part of system).

My back testing (largely as a result of your follow D suggestion) shows even in trending market not waiting for D to revert back to trend can have a lot of false signals on 4hr.

Thks for your comment.
  • #8,519
  • Jul 20, 2011 10:09am Jul 20, 2011 10:09am
thanks for taking the time. I am going away now. Think I will re read this entire thread.
Best regards
wm
Sleeping boys catch no fish
  • #8,520
  • Edited 1:18pm Jul 20, 2011 10:31am | Edited 1:18pm
bishopdotun,Bez
From the chart below I don't think that C/J 4H is a valid trade for buy, if you look at daily is trending down.
Attached Image (click to enlarge)
Click to Enlarge Name: chart.gif Size: 44 KB
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