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Trading Made Simple

  • #10,881
  • Aug 31, 2011 4:27pm Aug 31, 2011 4:27pm
Hi, Can you tell me if the gold coloured box with details of spread etc shown on your charts is one of those available in the attachments to this thread or where I can get it, I have been after something like this for some time
Cheers
  • #10,882
  • Aug 31, 2011 4:32pm Aug 31, 2011 4:32pm
Quoting TraderJak
Hi, Can you tell me if the gold coloured box with details of spread etc shown on your charts is one of those available in the attachments to this thread or where I can get it, I have been after something like this for some time
Cheers

Not on this thread, search "THV3InfoPanel" on this forum.
  • #10,883
  • Aug 31, 2011 4:33pm Aug 31, 2011 4:33pm
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Quote
it is not a criticism (and I really appreciate what you're doing here), it is just my point of view.


Let me start by stating that my posts, trades and opinions are not above scrutiny or criticism. Everyone is entitled to say what they like and I take no offense whatsoever. I measure my success by my bank account and that is what I focus on.

I am simply trying to get beyond confirming whether or not there is a valid set up on an chart and get into the reality of what is required for the mindset of trading for a living.

Just trying to expand on maybe trying the smaller time frames (15 M) in a ranging market. The signal and set ups are the same as the 1 Hr and 4 Hr. I too only trade 8 base pairs, but if a large move occurs, such as the EUR/CHF did during London, I am simply suggesting that it may be worth investigating other crosses of the currency showing substantial weakness or strength - and that such a move may possibly manifest itself on a 1 Hr or 4 Hr chart.


You are more than correct assuming I cannot monitor 20-25 pairs during price action. However, one can learn a lot from the movement of their base pairs. Yes, the spreads can be large, but so are the impulse moves. If one is serious about making money in trading, large drawdown's and large spreads are part of the reality.

I completely agree that one should first be consistent trading one or two pairs before branching out. However, not all of my posts are intended for newbies as there are some pretty good traders that participate in this thread and I am sharing some ideas with them as well.

I am referring to mostly movements that occurred on the 15 M time frame today- which I revert to when the market ranges.

I welcome your point of view as I never assume I know it all or that I am the smartest person in the room. Like all thread participants, I appreciate any mature, thoughtful analysis and input.
  • #10,884
  • Aug 31, 2011 4:43pm Aug 31, 2011 4:43pm
Quoting dcginc
I am referring to mostly movements that occurred on the 15 M time frame today- which I revert to when the market ranges.
I see.


Quoting dcginc
I welcome your point of view as I never assume I know it all or that I am the smartest person in the room. Like all thread participants, I appreciate any mature, thoughtful analysis and input.
Gentlemen always play by the rules. If they can't, they change the rules.
  • #10,885
  • Aug 31, 2011 5:22pm Aug 31, 2011 5:22pm
Quoting dcginc
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.
Yep....very rangy and a shitloads of fakeouts last night...I got slaughtered too. Very difficult trading night even with the right signals
  • #10,886
  • Aug 31, 2011 5:28pm Aug 31, 2011 5:28pm
Quoting dcginc
Remember . . . your mind is like a parachute . . . it only works when it's open.
Yip, I have serious parachute failure, just hope I can get this thing untangled before I hit the ground...
  • #10,887
  • Aug 31, 2011 5:31pm Aug 31, 2011 5:31pm
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...
With all due respect, weren't you explaining a few days ago that you only take a couple of good signals per week?? and yet you had five trades on last night??
  • #10,888
  • Aug 31, 2011 8:15pm Aug 31, 2011 8:15pm
Wow just got home from work to see I missed all the big JPY moves.
  • #10,889
  • Aug 31, 2011 8:18pm Aug 31, 2011 8:18pm
just closed my uj long for 50 pips from NY session
  • #10,890
  • Aug 31, 2011 8:30pm Aug 31, 2011 8:30pm
Argghhh soooo tempted to jump in, but don't know if I should...........
  • #10,891
  • Aug 31, 2011 8:32pm Aug 31, 2011 8:32pm
Based on the previous results from trading this method, from all users, anyone has a strong suggestion that a particular timeframe works better during a particular session? E.g London with 1hr, NY with 4hr, Asian with 15m or something?

That would be useful for trading during anytime of the day especially if you are working during the london market!
A trader must be humble - else the market would humble him.
  • #10,892
  • Aug 31, 2011 8:39pm Aug 31, 2011 8:39pm
i just wait for good setups in 1 hr charts during london and few hrs in NY session, i dont trade Asian.
  • #10,893
  • Aug 31, 2011 8:40pm Aug 31, 2011 8:40pm
what are peoples thoughts on the CHF crosses
most of them are showing strong short signals on the D1 charts.

will the swiss intervine again if it goes south?
  • #10,894
  • Aug 31, 2011 8:44pm Aug 31, 2011 8:44pm
Quoting 33drifter
what are peoples thoughts on the CHF crosses
most of them are showing strong short signals on the D1 charts.

will the swiss intervine again if it goes south?
Yeah I believe they have mentioned that. Take a look at your AU chart mate. Might find a good signal there considering the good news that just came out. Retail sales up.
  • #10,895
  • Aug 31, 2011 8:47pm Aug 31, 2011 8:47pm
Quoting 4xforex
i just wait for good setups in 1 hr charts during london and few hrs in NY session, i dont trade Asian.

Argh! Considering my location (GMT +8) and that I am working at a Pharma giant, I only get to trade the later hours of NY where movement is equally bad as the Asian market and does not follow well ( not that well ) with TDI compared to London..I wanna trade LONDON!!!!
A trader must be humble - else the market would humble him.
  • #10,896
  • Aug 31, 2011 9:18pm Aug 31, 2011 9:18pm
So I took the AU long in the middle of the last 1H candle. To me the long candle looked pretty strong and the green TDI was barely crossing the red. I hesitated, and hesitated, and debated, and now I am currently down `7 pips on 1 lot. Stupid trade. Should have known better.
f09
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  • #10,897
  • Aug 31, 2011 9:30pm Aug 31, 2011 9:30pm
Hey everyone, do me a favor and buy the AU. Please....
  • #10,898
  • Aug 31, 2011 9:44pm Aug 31, 2011 9:44pm
Quoting Fitness09
So I took the AU long in the middle of the last 1H candle. To me the long candle looked pretty strong and the green TDI was barely crossing the red. I hesitated, and hesitated, and debated, and now I am currently down `7 pips on 1 lot. Stupid trade. Should have known better.
f09
Attachment
It was pretty good news out of Aus, so it might be worth hanging on. I am also in on the back of the news. It might grow some legs once the London session kicks in....just have your stops in place and let her go.
  • #10,899
  • Aug 31, 2011 9:46pm Aug 31, 2011 9:46pm
Quoting dean
It was pretty good news out of Aus, so it might be worth hanging on. I am also in on the back of the news. It might grow some legs once the London session kicks in....just have your stops in place and let her go.
Yes Dean, I am still in. I have gotten all the way to -20 but has worked it's way back up. I was thinking the same thing about London open. You should never take a trade while trying to put a 2 yr old to bed, telling your wife good night, and eating. LOL
  • #10,900
  • Aug 31, 2011 9:57pm Aug 31, 2011 9:57pm
I've just jumped in on a Short based on the H4, H1, M30, M15

the daily is wanting to be a Bull but I'm hoping not
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Algovedas