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Trading Made Simple

  • #8,561
  • Jul 21, 2011 3:18am Jul 21, 2011 3:18am
i feel more comfortable using OSMA - 5-12-9-Typical (above or below 50 & correlating with entry candle) to judge my entry instead of Stoch.

This does not erode the value of stoch for this system. Just my approach to it. Credit to Big E.

It's solid
  • #8,562
  • Jul 21, 2011 3:20am Jul 21, 2011 3:20am
[quote=bishopdotun;4798016]My chfjpy is still on going back and forth.

New ones are attached. Anyone in?[/QUOT
  • #8,563
  • Jul 21, 2011 4:10am Jul 21, 2011 4:10am
Is anybody in on the EUR/GBP H4 short????
all views and opinions welcome.
  • #8,564
  • Jul 21, 2011 4:16am Jul 21, 2011 4:16am
Quoting dean
Is anybody in on the EUR/GBP H4 short????
all views and opinions welcome.
It looks like a good place to go short but I passed based on the angle of cross.
  • #8,565
  • Jul 21, 2011 4:22am Jul 21, 2011 4:22am
Quoting TheMaxx
It looks like a good place to go short but I passed based on the angle of cross.
Really!!!?? not criticising but I am wondering what angle you are looking for?? this is what my chart is showing. Is yours different?
Attached Image
  • #8,566
  • Jul 21, 2011 4:35am Jul 21, 2011 4:35am
My first Screenshot upload, so I hope it is OK

I also saw a very flat angle on this cross.
Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp.gif Size: 28 KB
  • #8,567
  • Jul 21, 2011 4:46am Jul 21, 2011 4:46am
Quoting dean
Really!!!?? not criticising but I am wondering what angle you are looking for?? this is what my chart is showing. Is yours different?
I was looking at the TMS Watchdog that doesn't update until the bar has closed. Please ignore my comments the angle looks good using an updating indicator.
Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp.gif Size: 15 KB
  • #8,568
  • Jul 21, 2011 4:49am Jul 21, 2011 4:49am
Quoting TheMaxx
I was looking at the TMS Watchdog that doesn't update until the bar has closed. Please ignore my comments the angle looks good using an updating indicator.
I also have the watchdog but I changed it to refresh. If you open the indicator settings and scroll down you will see it. Many have it set to refresh.
  • #8,569
  • Jul 21, 2011 4:57am Jul 21, 2011 4:57am
Quoting dean
I also have the watchdog but I changed it to refresh. If you open the indicator settings and scroll down you will see it. Many have it set to refresh.
I probably should, but I only want to look at trades once every 4 hours - if I set it to refresh I will receive alerts more frequently than that, right? I know eelfranz enters trades at the time of the cross, but I don't have time to be looking at my charts more frequently than every 4 hours.
  • #8,570
  • Jul 21, 2011 5:03am Jul 21, 2011 5:03am
Quoting TheMaxx
I probably should, but I only want to look at trades once every 4 hours - if I set it to refresh I will receive alerts more frequently than that, right? I know eelfranz enters trades at the time of the cross, but I don't have time to be looking at my charts more frequently than every 4 hours.
Yes but I think you can also change the alerts to only alert you when say the HA candle is 20 pips and the slope is at your preferred angle. HAve a look in the watchdog setup and you will see al the options. Sorry I cant be more precise...If you need to change anything the guy who created the watchdog is extremely helpful and generous and will answer your questions if you PM him.....his name escapes me at the moment.
  • #8,571
  • Jul 21, 2011 5:05am Jul 21, 2011 5:05am
Quoting TheMaxx
I probably should, but I only want to look at trades once every 4 hours - if I set it to refresh I will receive alerts more frequently than that, right? I know eelfranz enters trades at the time of the cross, but I don't have time to be looking at my charts more frequently than every 4 hours.
Just to clarify... As far as I know eelfranz does, as you said, enter at the time of the cross but he only does it if the cross happens at the open of the 4 hr candle. So He also only checkes his charts once every 4 hrs. Once at 10pm Pacific, 2am, and 6 am( at which time he closes all his trades if any) . Those are the times as far as I know. There is also the first three hours of the US session, but if you can only check every 4 hours then that should be fine. You can find it on the first page of this thread.

Regarding the alerts I don't know since I don't use the watchdog.

Hope this helps
  • #8,572
  • Jul 21, 2011 5:30am Jul 21, 2011 5:30am
Quoting dean
Yes but I think you can also change the alerts to only alert you when say the HA candle is 20 pips and the slope is at your preferred angle. HAve a look in the watchdog setup and you will see al the options. Sorry I cant be more precise...If you need to change anything the guy who created the watchdog is extremely helpful and generous and will answer your questions if you PM him.....his name escapes me at the moment.
Good point, thanks!

Quoting TraderDC
Just to clarify... As far as I know eelfranz does, as you said, enter at the time of the cross but he only does it if the cross happens at the open of the 4 hr candle. So He also only checkes his charts once every 4 hrs. Once at 10pm Pacific, 2am, and 6 am( at which time he closes all his trades if any) . Those are the times as far as I know. There is also the first three hours of the US session, but if you can only check every 4 hours then that should be fine. You can find it on the first page of this thread.

Regarding the alerts I don't know...
Yes it does, thanks!
  • #8,573
  • Jul 21, 2011 5:55am Jul 21, 2011 5:55am
I have a ton of short crosses on all my EUR pairs coming up for my 8am EST 4HR bar open (that's in about 1HR from now).

What are your guys thoughts on shorting EUR with the EU summit going on today? Is there going to be random news leaking out of it that will effect the market, or is it locked up so we don't find out news until a scheduled time?

Lain
  • #8,574
  • Jul 21, 2011 6:42am Jul 21, 2011 6:42am
Hi to all the good people on this thread

I have read the whole thread now over the last few weeks and saved tons of charts and summaries. I feel i have a solid grasp and i have begun live practice trading with small amounts.

Regarding the benefits of trading 4HR or 1HR charts.
Often i see a good signal on the 4HR so i check the 1HR for entry and see that there are more than three candles (naturally) and often a check mark reversal. So two clear signs not to enter - at least as far as the 1HR is concerned.
This is one aspect i am struggling with. I'm fairly sure i haven't seen a specific answer, sincere apologies if it has.

I am trading in London, its clearly the best session so being in front of my screen during this time is no problem. I know that the 4HR is good for those in different time zones when a set and leave perspective suits you.

Maybe I should just stick to trading the 1HR but the 4HR signals are often so clear i find myself getting perplexed and indecisive.

Those trading the 4 HR charts, do you still enter the trade even if the 1HR says no?

Any thoughts and advice most welcome.
Many thanks to Eric and all the great contributors on this thread. Glyn
  • #8,575
  • Jul 21, 2011 7:26am Jul 21, 2011 7:26am
Took the E/U 4H. Eneterd at 1.4184 and its lookng preaty bad right now...
  • #8,576
  • Jul 21, 2011 7:27am Jul 21, 2011 7:27am
Quoting Alianzer
Took the E/U 4H. Eneterd at 1.4184 and its lookng preaty bad right now...
Just popped 70 pips up... Might wanna stay away from EUR pairs today due to the EUR summit. very unpredictable...
  • #8,577
  • Jul 21, 2011 7:34am Jul 21, 2011 7:34am
Quoting pippete
Just popped 70 pips up... Might wanna stay away from EUR pairs today due to the EUR summit. very unpredictable...
Ya, my demo account is finding that out the hardway.
  • #8,578
  • Jul 21, 2011 7:40am Jul 21, 2011 7:40am
Quoting pippete
Just popped 70 pips up... Might wanna stay away from EUR pairs today due to the EUR summit. very unpredictable...
1. Trade off the 4hr bars
2. Stay in the direction of the trend
3. and stick to the rules on the first page
4. employ the basic FX rules

You cant go wrong
  • #8,579
  • Jul 21, 2011 7:42am Jul 21, 2011 7:42am
Quoting bishopdotun
1. Trade off the 4hr bars
2. Stay in the direction of the trend
3. and stick to the rules on the first page
4. employ the basic FX rules

You cant go wrong

Its Forex... here anything can go wrong.. thers no 100% shots
  • #8,580
  • Jul 21, 2011 8:10am Jul 21, 2011 8:10am
I just hit by EURUSD & EURGBP

Both price spiked up after news released, loss 170pips ...
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