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Trading Made Simple

  • #10,161
  • Aug 16, 2011 7:10pm Aug 16, 2011 7:10pm
Here is what my H4 Cable chart looks like. Hopefully it is rolling over to match the 1H
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  • #10,162
  • Aug 16, 2011 8:36pm Aug 16, 2011 8:36pm
Quoting GT_Pips
When I trade the 4H, I also look back at the 1H, 30m, 15m, 5m and even down to the 1m for the correct entry point.
Doing this will assist you in entering the trade at a sweet spot.
Doing this can sometimes prevent a 100pip drawdown since you would still be on the sidelines waiting for the other time frames to line up.
That's the best thing to do sometimes.

By the way trading might be a little thin till the beginning of September cause of summer vacation for institutional traders. Now it's probable just black boxes.
  • #10,163
  • Aug 16, 2011 9:46pm Aug 16, 2011 9:46pm
Quoting GT_Pips

When I trade the 4H, I also look back at the 1H, 30m, 15m, 5m and even down to the 1m for the correct entry point.
Doing this will assist you in entering the trade at a sweet spot.
Doing this can sometimes prevent a 100pip drawdown since you would still be on the sidelines waiting for the other time frames to line up.
would be so kind as to expand this concept with some example charts?
tks in advance.
Humble & Kalcker CLO2 = Covid killer
  • #10,164
  • Aug 16, 2011 10:24pm Aug 16, 2011 10:24pm
Does anyone trade Gold using tdi? i took one trade off 4hr chart last week.

would like to know if anyone is using this template to trade gold, silver and oil?
  • #10,165
  • Aug 16, 2011 10:53pm Aug 16, 2011 10:53pm
I have had success with this system trading gold.
  • #10,166
  • Aug 17, 2011 2:04am Aug 17, 2011 2:04am
Short USDCHF 1hr @ 1.7903. Strong bounce off previous resistance and double top with divergence.
  • #10,167
  • Aug 17, 2011 2:25am Aug 17, 2011 2:25am
Quoting DaveUK
Short USDCHF 1hr @ 1.7903. Strong bounce off previous resistance and double top with divergence.
I just got hammered on that.....I took a long on the hourly....it shot up, retraced and I enterd on the 5 minute chart, and it started climbing nicely, I was up a bit under 10 pips and all looked ok. I took it because every other friggin chart agreed with the uptrend and it looked like it was going to punch through prior resistance and it bounced. I still had my chart on the 5 minute and was watching it....it wasnt a bounce off resistance it must have been something else....its spiked the same as a news event or bank intervention. Happened in half a minute.
So from being a bit under 10 up I was stopped out at minus 50!!!
F*&^ing thing!!
  • #10,168
  • Aug 17, 2011 2:31am Aug 17, 2011 2:31am
Quoting Nacho
Hi,

Any ideas about this entry? Why I was wrong?

Thanks
Again could be just bad luck, lots of these trades may work, good D signal and divergence also. But you are counter trend, in a downtrend sell rallies. Apart from divergence and poss support levels I don't see anything to suggest turn around.

When the trend does change you'll normally get a good D signal, unless a shock has turned the market the big boys are still looking for people to unload their positions to. Those good D signals would be higher lows/dble bottoms etc.

As things stand you entered about 300 pips from the low counter trend. There are some good poss support levels down here so it might work but would need a sizeable stop, ie below the last low. Its less stressful to trade the trend when its shown itself.
  • #10,169
  • Aug 17, 2011 2:45am Aug 17, 2011 2:45am
Quoting dean
I just got hammered on that.....I took a long on the hourly....it shot up, retraced and I enterd on the 5 minute chart, and it started climbing nicely, I was up a bit under 10 pips and all looked ok. I took it because every other friggin chart agreed with the uptrend and it looked like it was going to punch through prior resistance and it bounced. I still had my chart on the 5 minute and was watching it....it wasnt a bounce off resistance it must have been something else....its spiked the same as a news event or bank intervention. Happened in half...
Just to let you know.
It is News,the Swiss Gov just intervene again in chf.

Cheers.
It Is Well With My Soul..(Amen)
  • #10,170
  • Aug 17, 2011 2:45am Aug 17, 2011 2:45am
Everyone be careful trading tonight....I dont know what the f&^%cks going on but there are some wild swings out there.
Just when a good candle or two rears up and sucks you in it reverses sharply..check out your hourly charts on most majors and the last few hours of candles and you will see what I mean.
  • #10,171
  • Aug 17, 2011 2:46am Aug 17, 2011 2:46am
Quoting babasemi
Just to let you know.
It is News,the Swiss Gov just intervene again in chf.

Cheers.
Pricks.....they owe me
  • #10,172
  • Edited 3:08am Aug 17, 2011 2:52am | Edited 3:08am
Quoting dean
I just got hammered on that.....I took a long on the hourly....it shot up, retraced and I enterd on the 5 minute chart, and it started climbing nicely, I was up a bit under 10 pips and all looked ok. I took it because every other friggin chart agreed with the uptrend and it looked like it was going to punch through prior resistance and it bounced. I still had my chart on the 5 minute and was watching it....it wasnt a bounce off resistance it must have been something else....its spiked the same as a news event or bank intervention. Happened in half...
Hey Dean. Sorry to hear about that. I've been watching this pair really closely last few days. Watching the climb and anticipating reaction off the previous high. I've found trading breakouts through strong S/R can be a dangerous game... so many fakeouts. Often price will breach the level a little only to retrace. I'll usually wait for price to break out then retrace (often back to the S/R level it's just broken through). If it then continues the move I'll look to getting in (if everything else looks good). It's a pretty conservative approach... I'll miss some big moves but the thinking in dgcinc's last post sums that up.

Yes, everything went VERY volatile just after London opening. Euro was up and down like a tart's knickers.

As it stands, this trade was 60+, now 27+. Set SL to break even... if it hits that fine, I'll keep watching for its next move.

"Market talk that the SNB and Swiss Government will make another announcement at 0900BST"
  • #10,173
  • Aug 17, 2011 3:07am Aug 17, 2011 3:07am
eurchf short at 1.1323
usdchf short at 0.7868
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  • #10,174
  • Aug 17, 2011 3:17am Aug 17, 2011 3:17am
Closed first half eurchf with + 32 pips, S/L BE.
Closed first half usdchf with +28 pips, S/L BE.
  • #10,175
  • Aug 17, 2011 4:44am Aug 17, 2011 4:44am
Anybody else getting slaughtered tonight??? THis is f(*&ing ridiculous!!
Was very close to jumping on the short on the gbp 4 hour after the bad news and all.....now look at it. I am staying away tonight...
  • #10,176
  • Aug 17, 2011 4:45am Aug 17, 2011 4:45am
just done the same
opened eurchf 1.3233 taken half profit at 1.12914 and SL to BE....


Just got stopped out on the 2nd halves ...
  • #10,177
  • Aug 17, 2011 4:53am Aug 17, 2011 4:53am
Quoting dean
Anybody else getting slaughtered tonight??? THis is f(*&ing ridiculous!!
Was very close to jumping on the short on the gbp 4 hour after the bad news and all.....now look at it. I am staying away tonight...
Hi Dean
No trades for me this am, a little disappointed I didn't buy eur or ej but never mind. It was UK MPC minutes this am and that can be a bit of a mess. Add in chf central bank and yes that can cause a few problems.
  • #10,178
  • Aug 17, 2011 4:55am Aug 17, 2011 4:55am
Quoting dean
Anybody else getting slaughtered tonight??? THis is f(*&ing ridiculous!!
Was very close to jumping on the short on the gbp 4 hour after the bad news and all.....now look at it. I am staying away tonight...
Yes, its a hideous market today. 10.50 am UK time

Theres been plenty of good signals that have gone nasty very quickly. Huge spikes all over the place. I was short on USDCCHF was + 10 then it sprang all the way back and was - 60 before it crawled back down. I sat it out and exited for +1.8. Felt lucky with that one.

Could be a session to just watch ..
  • #10,179
  • Aug 17, 2011 5:01am Aug 17, 2011 5:01am
Quoting dean
Anybody else getting slaughtered tonight??? THis is f(*&ing ridiculous!!
Was very close to jumping on the short on the gbp 4 hour after the bad news and all.....now look at it. I am staying away tonight...
Only been in one trade this evening. EURJPY, came out about 15 pips up. As you've said, the markets look jumpy.

Going to wait another 2hrs for US market open now.
  • #10,180
  • Aug 17, 2011 5:37am Aug 17, 2011 5:37am
Not gonna do it because I am a bit shell shocked on my loss but just out of curiosity:
Wold anyone be looking to trade a long on this provided the next candle is ok and the tdi crosses....daily is up, that big hook with space between the red and green usually signals a good trade and it bounced off soid support, with plenty of room to move upwards.
All comments welcome
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