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Trading Made Simple

  • #10,861
  • Aug 31, 2011 12:15pm Aug 31, 2011 12:15pm
Any body Sell Eur/Usd H4 at the moment ?

For me the last candle is Flat.
  • #10,862
  • Aug 31, 2011 12:28pm Aug 31, 2011 12:28pm
On Tuesday I came out +76 pips. Today -40..I felt that there were a lot of fake outs.
  • #10,863
  • Aug 31, 2011 12:36pm Aug 31, 2011 12:36pm
It doesn't look like a good position to me, I would wait.

Currently watching AUDCAD for short M15.
“The harder you work, the harder it is to surrender.” - Vincent Lombardi
  • #10,864
  • Aug 31, 2011 12:38pm Aug 31, 2011 12:38pm
I would love to know why today was not a good day. I had a great day on Tuesday 3:00 am and on wards.

Why was today a bad day? Any fundamental reasons we should learn about?
  • #10,865
  • Aug 31, 2011 12:43pm Aug 31, 2011 12:43pm
This trade met my rules:

Signal cross - good angle on trading time frame (15 M)
major support and consolidation both 15 M and 1 Hr.
Bullish Divergence on 1 Hr.
Cross/Bounce up on 1 Hr.
Direction confirmed on higher time frame (1 Hr up at time of trade)

I would trade this set up every time.

You win some and you lose some.
  • #10,866
  • Aug 31, 2011 12:54pm Aug 31, 2011 12:54pm
Well, I wouldn't take this one.

I'm playing close to 68 and 32 with TDI.

Besides you had a strong resistance just above - 110.770 so I would wait for braking this.
“The harder you work, the harder it is to surrender.” - Vincent Lombardi
  • #10,867
  • Aug 31, 2011 1:18pm Aug 31, 2011 1:18pm
eurusd seems to be testing daily S1 around .437 right now, TDI and stoch highly oversold, waiting for a possible bullish reversal...
  • #10,868
  • Aug 31, 2011 1:26pm Aug 31, 2011 1:26pm
Today
http://images.vfl.ru/ii/1314814873/14133d23/97127_m.jpg
  • #10,869
  • Aug 31, 2011 1:28pm Aug 31, 2011 1:28pm
Have only recently found this thread and it has taken me nearly six weeks to read every post! This is dynamite and thank you to Eelfranz and others who have contributed. I live in the UK and do not have the luxury (?) of being able to get up in the middle the night to trade the London session. But I do have to work, and I can only therefore realistically trade on the 0100, 1300 and 1700 (EST) candles, (none at all in the London session). I have done some backtesting on these times using 8 pairs and they threw up 2 or 3 trades a month each – the JPY pairs have more on average. I have now started testing this on a demo (MT4) account with poor results. I need to start looking for the really good setups but I wonder if I am missing the best opportunities whilst I am at work. I might have to start looking at a daily TF but this will need a large DD margin. Any other Brits reading this who work? - what do you do?
  • #10,870
  • Aug 31, 2011 2:06pm Aug 31, 2011 2:06pm
Quoting Flamegs23
I would love to know why today was not a good day. I had a great day on Tuesday 3:00 am and on wards.

Why was today a bad day? Any fundamental reasons we should learn about?
Today is a massive news day, I decided not to trade TMS system today and I was right.

Just my two cents...
Gentlemen always play by the rules. If they can't, they change the rules.
  • #10,871
  • Aug 31, 2011 2:13pm Aug 31, 2011 2:13pm
Quoting Nacho
eurusd seems to be testing daily S1 around .437 right now, TDI and stoch highly oversold, waiting for a possible bullish reversal...
I hope you're right, but GBPUSD and AUDUSD don't look good, and Big E says it is important to look at the Three Amigos.
Gentlemen always play by the rules. If they can't, they change the rules.
  • #10,872
  • Aug 31, 2011 2:23pm Aug 31, 2011 2:23pm
Hey Gang ...

I'm sorry for the confusion. It was a Training Chart... the comments that followed you'd think I was giving drugs to kids.

A week or two ago I shared with you the fact that I discovered when green crosses red and like a wave green ran up or down the red line that you could stay in the trade until it crossed back over for a bigger pip gain ... it was an observation I was sharing with you ... and yes the green TDI would go flat and hook over until it hit the red line when it bounced again.

Three or more times in the past I've posted a live trade chart and lost over 30 pips on each one after taking the time to mark up the chart for YOUR BENEFIT for learning purposes. Since I trade full lots it's cost me a lot of money ... lost just to show you A LIVE CHART. I quit doing it for that reason and you would have too.

Now if any of you would be willing to set up a bank account I could draw on any losses suffered to give you a live chart... $10 a pip ... I'd be glad to do that for you.

I've dedicated thousands of hours to help you make more money. I did't ask anyone for a dime. I'm glad to help and share with you but just those 3 times alone cost me over $1,000 in lost profit ... sorry - no more.

Your always gonna have some losses no matter the method you used ... that's just part of 4x. Pro traders just make sure they average out a positive cash flow at the end of the month.

Good Hunting ..... Big E
  • #10,873
  • Aug 31, 2011 2:48pm Aug 31, 2011 2:48pm
Quoting eelfranz
It was a Training Chart... the comments that followed you'd think I was giving drugs to kids.
That's a good one!

Big E, I'm glad that you're back and in a good humor.


Quoting eelfranz
A week or two ago I shared with you the fact that I discovered when green crosses red and like a wave green ran up or down the red line that you could stay in the trade until it crossed back over for a bigger pip gain ... it was an observation I was sharing with you ... and yes the green TDI would go flat and hook over until it hit the red line when it bounced again.
Yes, I remember this post (I think it was on one of the recent Saturdays), I was very impressed and wrote it down.



Quoting eelfranz
Three or more times in the past I've posted a live trade chart and lost over 30 pips on each one after taking the time to mark up the chart for YOUR BENEFIT for learning purposes. Since I trade full lots it's cost me a lot of money ... lost just to show you A LIVE CHART. I quit doing it for that reason and you would have too.
Big E, don't worry about that, the REAL traders understand you. Don't pay attention to some smarty pants!
Gentlemen always play by the rules. If they can't, they change the rules.
  • #10,874
  • Aug 31, 2011 3:01pm Aug 31, 2011 3:01pm
Traders,

One suggestion for additional set ups/opportunites is to look at the corresponding crosses when a pair you trade gives a signal. For example, all majors showed weakness against the Swissy today. I first got a signal on the EUR/CHF. This was easy to trade and take advantage of. There were many other set ups as well.

Here are just a few of the opportunities from the London and NY sessions in today's market. In the parens are the trades I took.

EUR/USD 90 pips short London/NY (+28 pips) late NY
EUR/JPY 60 pips short NY (-50 pips) NY
EUR/CHF 240 pips short London/NY (+ 136 pips) London/NY
EUR/CAD 90 pips short London/NY
EUR/NZD 80 pips short NY
GBP/USD 60 pips long London
GBP/USD 80 pips short NY
GBP/AUD 90 pips short London
GBP/CAD 80 pips short NY
GBP/JPY 70 pips long London
GBP/JPY 80 pips short NY
GBP/CHF 240 pips short London/NY (+ 133 pips) London/NY
AUD/CHF 150 pips short London/NY
AUD/CAD 60 pips long NY
NZD/CHF 150 pips short London/NY (+ 84 pips) London/NY
USD/CHF 150 pips short London/NY
USD/CAD 80 pips short London
USD/CAD 75 pips long NY

Total 1,925 pips Net gain 331 pips

If you caught just 10% = 195 pips.

Remember . . . your mind is like a parachute . . . it only works when it's open.
  • #10,875
  • Aug 31, 2011 3:57pm Aug 31, 2011 3:57pm
Quoting dcginc
Traders,

One suggestion for additional set ups/opportunites is to look at the corresponding crosses when a pair you trade gives a signal. For example, all majors showed weakness against the Swissy today. I first got a signal on the EUR/CHF. This was easy to trade and take advantage of. There were many other set ups as well.

[font=Calibri][size=3]Here are just a few of the opportunities from the London and NY sessions in today's market. In the parens are the trades...
What time did you start trading ? the reason why i ask is because i see you are in the US
Look at something long enough, you will eventually get it.
  • #10,876
  • Aug 31, 2011 3:58pm Aug 31, 2011 3:58pm
Quoting dcginc
Traders,

One suggestion for additional set ups/opportunites is to look at the corresponding crosses when a pair you trade gives a signal. For example, all majors showed weakness against the Swissy today. I first got a signal on the EUR/CHF. This was easy to trade and take advantage of. There were many other set ups as well.

[font=Calibri][size=3]Here are just a few of the opportunities from the London and NY sessions in today's market. In the parens are the trades...

dcginc, you've made a very good point and I don't want to argue with you, however most traders trade only 4-6 currencies. It is impossible to watch 20-25 currencies, you show some exotic currencies with HUGE spreads. How many currencies can you trade at the same time? For me much more profitable is to trade at the same time only one currency with a really good lot size than 3-4 currencies with a small lot size, as far as I understand it is the reason why Big E chooses his trades very carefully. I trade only EURUSD, GBPUSD, AUDUSD, EURJPY and GBPJPY and I'm very satisfied with my results, Big E recommended 8 currencies, he mostly trades "Three Amigos".

It was not the best day for the TMS system, but the days like these happen not so often, so I think we'd better stick to our guns and not change our currencies list every time when we have one of those days.

And another thing: please correct me if I'm wrong, but I don't see these good GBPJPY trades you're talking about. I marked two possible enters, after the long one she went down like a crazy, and the short one could bring only 20 pips.

P.S. dcginc, it is not a criticism (and I really appreciate what you're doing here), it is just my point of view.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy.gif Size: 290 KB
Gentlemen always play by the rules. If they can't, they change the rules.
  • #10,877
  • Aug 31, 2011 4:03pm Aug 31, 2011 4:03pm
It's good entry ?
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdH4_31_08_2011.JPG Size: 101 KB
  • #10,878
  • Aug 31, 2011 4:08pm Aug 31, 2011 4:08pm
Quoting Favorite
dcginc, you've made a very good point and I don't want to argue with you, however most traders trade only 4-6 currencies. It is impossible to watch 20-25 currencies, you show some exotic currencies with HUGE spreads. How many currencies can you trade at the same time? For me much more profitable is to trade at the same time only one currency with a really good lot size than 3-4 currencies with a small lot size, as far as I understand it is the reason why Big E chooses his trades very carefully. I trade only EURUSD, GBPUSD, AUDUSD, EURJPY and GBPJPY...
Alot of trades ran flat or against me as well today.
Look at something long enough, you will eventually get it.
  • #10,879
  • Aug 31, 2011 4:11pm Aug 31, 2011 4:11pm
Quoting traco1
Alot of trades ran flat or against me as well today.
I'm glad that because of the news I decided not to trade TMS today. I traded another system (M-5), made some pips.
Gentlemen always play by the rules. If they can't, they change the rules.
  • #10,880
  • Aug 31, 2011 4:13pm Aug 31, 2011 4:13pm
Quoting Favorite
I'm glad that because of the news I decided not to trade TMS today. I traded another system (M-5), made some pips.
It was the only way for me to make pips today.
Look at something long enough, you will eventually get it.
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