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Trading Made Simple

  • #9,181
  • Aug 2, 2011 7:25pm Aug 2, 2011 7:25pm
Quoting bishopdotun
Its the 2nd candle not the 4th. check again.
Count your red candles..its the fourth....check again
  • #9,182
  • Aug 2, 2011 7:29pm Aug 2, 2011 7:29pm
Quoting Callisto
Watching you 2 talking apples & oranges here; I think one means 4 th colored candle & the other means 2 nd candle since crossover?
Yep that is probably the case. So just to confirm for you guys, when the first or second candle is mentioned for trade entry, it is the first or dsecond reversal candle (colour change) NOT the first or second candle after the cross. We look at the reversal candle THEN make sure we have a tdi cross. If the cross is not apparent utnil anything after the start of the first or second reversal candle it is no trade. This has been mentioned many times throughout the thread.
  • #9,183
  • Aug 2, 2011 7:33pm Aug 2, 2011 7:33pm
Quoting Britpip7
Dean - been watching this one for a while and waiting for it to reverse - still not convinced that his is anything more than a resting point seeing as the USD is not performing on any of the fundamentals right now. If it breaks and hold below 8600 then it looks good - otherwise I'll leave it for now.
I exited with 20 pips convinced it was going nowhere...to wake up and find I would have been up over 100 this morning!!
  • #9,184
  • Aug 2, 2011 7:37pm Aug 2, 2011 7:37pm
I took AUDUSD but not EURAUD as I don't risk more than 5% on one single option. So far AUDUSD looks good with trailing stop. Let's see how far it can go.



Quoting bishopdotun
Did anyone get on the train earlier today? How i missed those moves.

Those 2 moves seem to be the only good setups today.
Attached Image (click to enlarge)
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Forex is boring but profitable with patience and discipline
  • #9,185
  • Aug 2, 2011 7:42pm Aug 2, 2011 7:42pm
Quoting FX-Trader
Another option is look at the trades - how many pulled back and rate how far they pulled back if say the ones that scream from entry were over whelming then a tight stop loss is fine b/c when you time it right there is no looking back. If you find a high % pulling back 30 pips before rocketing higher then go with that as your stop loss, if only a handful are stopping out at 80 pips then there is no reason to hold on for that trade, b/c lets say you get stopped out at 30pips and around 80 pips it signals re-entry you get in again saving yourself...
P&*%ing myself...good one....gotta love the triple III
  • #9,186
  • Aug 2, 2011 8:46pm Aug 2, 2011 8:46pm
Quoting bishopdotun
Did anyone get on the train earlier today? How i missed those moves.

Those 2 moves seem to be the only good setups today.
I got out the Aud/Usd at a 110 pips, I took it on the daily which was on the second at the time.
Did you know the profiteers like their money green?
  • #9,187
  • Aug 2, 2011 11:16pm Aug 2, 2011 11:16pm
A/U looks promessing in the way up on H1 TF . I will wait candle close above EMA5
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  • #9,188
  • Aug 2, 2011 11:34pm Aug 2, 2011 11:34pm
Quoting alkenany
A/U looks promessing in the way up on H1 TF . I will wait candle close above EMA5
Yeah you're right alkenany, but you would be going against a strong trend short (IMO). I haven't been trading long, infact since this past May, i started demoing, and April I started my schooling in forex. so i am still a student. but it could turn out to be good/in your favor, or go the other way. my trading style tells me to stay out until 2am pacific time. good luck with the trade, now is the time to take the trade as this is the second candle and Big E said to get in on first or second candle, not the third, so don't wait to see it close.
Did you know the profiteers like their money green?
  • #9,189
  • Aug 2, 2011 11:45pm Aug 2, 2011 11:45pm
For those not having a MT4 Platform : In place of the TDI -> use the CCI set to 6 and for the level enter a 0.0 line. When the line crosses the 0.0 line you normally have a set up. This info was PM'ed to me ...
  • #9,190
  • Aug 2, 2011 11:50pm Aug 2, 2011 11:50pm
Big thanks for making such a great system it seem very consistent. I truly appreciate sharing this system with us!
  • #9,191
  • Aug 2, 2011 11:52pm Aug 2, 2011 11:52pm
Quoting Surge-my-pip
Yeah you're right alkenany, but you would be going against a strong trend short (IMO). I haven't been trading long, infact since this past May, i started demoing, and April I started my schooling in forex. so i am still a student. but it could turn out to be good/in your favor, or go the other way. my trading style tells me to stay out until 2am pacific time. good luck with the trade, now is the time to take the trade as this is the second candle and Big E said to get in on first or second candle, not the third, so don't wait to see it close.
Thanks Surge-my-pip for ur valuable advice. U R rite about the trend, bu7 what encourage me to consider long position is it reahed 50% fibo retrace on daily TF and it has to make correction . About close candle I thought BE ment 1st or 2end candle above EMA as we still in first one. please correct me if I missunderstand. thanksagain
  • #9,192
  • Aug 3, 2011 12:34am Aug 3, 2011 12:34am
The TDI E / U crossed 4H, but no good angle. You agree or someone take it?
  • #9,193
  • Aug 3, 2011 12:36am Aug 3, 2011 12:36am
Quoting FX-Trader
For those of you using the watchdog, do you wait for the bar to close and register final slope or do you take it when the alert comes and the slope is currently building?

So example...
Current slope 9.0
Perv slope 1.2
(Take trade Y/N)

or wait til bar closes
Current slope 9.4
Prev slope 13.4
(Take trade now Y/N)

I was using the simulator - great tool by the way thanks - yesterday and the 2 trades that failed were taken early by the 1st example, where most of the others seem to fair better like example 2 waiting for slope to register...
I think you're doing the best thing to find out - testing and seeing what gives YOU the best overall outcome.

Yesterday I thought I'd have a go at entering trades as soon as the alerts came through (i.e. not waiting until candle close) ... for the candles that were strong ones, it worked well ... but for the weaker candles there was obviously more risk of pull back before targets were hit and indeed this happened with some of them.

My gut instinct is reacting straight away (not waiting for candle close) would give you more opportunity to profit but also give you more risk - i.e. it's much less of a sure thing. Waiting until the candle closes tends to indicate that the trend is at least going to carry on - less risk of pull back, but perhaps some missed profits, depending on what your targets / goals are.

But like all things, it's about practice and what works for you.
1 pip at a time ... if the entries are strong, the rest will follow ...
  • #9,194
  • Aug 3, 2011 1:13am Aug 3, 2011 1:13am
stumbled to this site on thursday, started practising on friday, now im up +230 pips.
you guys are really doing a great work here.
  • #9,195
  • Aug 3, 2011 2:19am Aug 3, 2011 2:19am
Did everybody see that?: Eel posted last night! Welcome back! We missed ya!
  • #9,196
  • Aug 3, 2011 2:20am Aug 3, 2011 2:20am
Goodmorning peeps.

I am looking closely at these pairs. The slope of TMS is good for a trade. Any ideas?
  • #9,197
  • Aug 3, 2011 2:38am Aug 3, 2011 2:38am
Quoting bishopdotun
Goodmorning peeps.

I am looking closely at these pairs. The slope of TMS is good for a trade. Any ideas?
Anyone want to join?

I took trade on the three pairs. Good angles
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: gbpchf aug 3.gif Size: 19 KB
  • #9,198
  • Aug 3, 2011 2:38am Aug 3, 2011 2:38am
Be careful on those CHF pairs - the Swiss National Bank intervened in the last hour, trying to stop the relentless strength of their franc. Past attempts have had only short-term effects.
  • #9,199
  • Aug 3, 2011 2:40am Aug 3, 2011 2:40am
Quoting bishopdotun
Goodmorning peeps.

I am looking closely at these pairs. The slope of TMS is good for a trade. Any ideas?
Strong News release backing these up. Hoping they will fly up

David
  • #9,200
  • Aug 3, 2011 3:19am Aug 3, 2011 3:19am
Quoting TraderDC
Strong News release backing these up. Hoping they will fly up

David
Hi guys,

Please does anyone know where i can get news release faster than forexfactory calendar. They seem to be too slow.

eurchf: +140pips
usdchf: + 120pips
gbpchf: + 80pips

Still counting.
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