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Trading Made Simple

  • #11,421
  • Sep 13, 2011 12:16am Sep 13, 2011 12:16am
Quoting amiralifx
yes. I am looking to buy audusd in h4 .
Do you also think it is in a good level right now ?
  • #11,422
  • Sep 13, 2011 12:20am Sep 13, 2011 12:20am
buy audusd h4 @1.03685 sl: 1.03659 tp: 1.04791

Attached Image (click to enlarge)
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  • #11,423
  • Sep 13, 2011 12:20am Sep 13, 2011 12:20am
Quoting Pbh
Anyone looking to buy AUDUSD in a couple of minutes ??
In my terminal it's the 3 candle.
  • #11,424
  • Sep 13, 2011 12:21am Sep 13, 2011 12:21am
2 new orders open.

Not sure about A/U either, it doesnt seem 100% right. But i'll take a risk.
Attached Image(s) (click to enlarge)
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  • #11,425
  • Sep 13, 2011 12:32am Sep 13, 2011 12:32am
Quoting Pbh
Do you also think it is in a good level right now ?
yes. i beleive that. target is 1.0470
  • #11,426
  • Sep 13, 2011 12:36am Sep 13, 2011 12:36am
Quoting Callisto
Welcome to TMS, and yes you do have option to change rollover time, IF you are GOOD with MT4 and GREAT with reading & following instruxctions, right here on FF ---->

http://www.forexfactory.com/showthread.php?t=206301
Callisto,
Many thanks for that, will have a more comprehensive read of that later but on first look it makes me wonder if there's any known downside with 'messing about' with the designated timeframe and TMS, maybe a stupid question but MT4 is a new beast to me

Anyone have any words of wisdom on my 2nd question
Quote
My second question is about entry (and I know the basics before anyone shouts please).... I've looked at quite a few setups on the 4H TF that look good, checked the trend and the Daily TF as well and all looks good....then I've checked the 1Hr TF and seen that (for example) the TDI is crossing in the other direction, or the price action on the 1 hour candles is low, or something else that makes me think that the trade isn't 'safe'. My question is, should I focus just on the 4Hr (my ideal timeframe), check the daily for trend confirmation and ignore...

Really would appreciate thoughts.........
  • #11,427
  • Sep 13, 2011 12:39am Sep 13, 2011 12:39am
Quoting fufighter
2 new orders open.

Not sure about A/U either, it doesnt seem 100% right. But i'll take a risk.
whats the thought process behind the G/A trade. again i see the cross but is there any other supporting factors that you took in to consideration.

Also keep in mind the A/U is correlated to G/A, if you see the A/U trade as risky then the G/A is equally risky. If you had $100K risk on each trade would you still have taken it?
  • #11,428
  • Sep 13, 2011 12:57am Sep 13, 2011 12:57am
Quoting amiralifx
buy audusd h4 @1.03685 sl: 1.03659 tp: 1.04791

Attachment
Hi Amiralifx,
Looking at your chart above I wasn't overly happy with the angle of the tdi cross but thought I'd look at my own charts to see.
What I noticed was that your candles showed a lot more 'action' than mine, I've circled mine below and you can see they're very indecisive and yet on your post they look quite strong......do you or anybody have any answer for 2 charts on same timeframe showing different candle strengths...?

Attached Image (click to enlarge)
Click to Enlarge Name: audusd.gif Size: 27 KB
  • #11,429
  • Sep 13, 2011 1:04am Sep 13, 2011 1:04am
Aussie is not going much higher, better to look for shorting opportunity. Open longs only near 1.016

Why? Because this system does not work every time. Now that price is correcting, system's capability to pinpoint good entries is very limited, especially if you only check one tf. So if you trade 1h, better to check 4h first and you'll have slightly better changes to succeed.

All the best, John

Quoting fufighter
2 new orders open.

Not sure about A/U either, it doesnt seem 100% right. But i'll take a risk.
  • #11,430
  • Sep 13, 2011 1:21am Sep 13, 2011 1:21am
Quoting 33drifter
whats the thought process behind the G/A trade. again i see the cross but is there any other supporting factors that you took in to consideration.

Also keep in mind the A/U is correlated to G/A, if you see the A/U trade as risky then the G/A is equally risky. If you had $100K risk on each trade would you still have taken it?
IF his account was $5,000,000, his risk is 2% per, and the signals valid for HIS trading plan, then there is no reason why he would not take the trade, right?

To me, and many other traders, it is not the amount at risk but the percentage, define the risk before entering the trade, then:

- Anything can happen.

- You don't need to know what is going to happen next in order to make money.

- There is a random distribution between wins and losses for any given set of variables that define an edge.

- An edge is nothing more than an indication of a higher probability of one thing happening over another.

- Every moment is unique.
OPPORTUNITY IS NOWHERE
  • #11,431
  • Sep 13, 2011 1:35am Sep 13, 2011 1:35am
Please understand that I am new to this thread. With regards to the previous AUD:USD 4hr TF setup here is what I noticed - PROs and Cons:

Pro: TDI green crossed over red
Pro: TDI at 32 level (typically good for long positions)
Pro: Stochastic Slope showed good confirmation of direction
Pro: No major news on the schedule until tomorrow morning

Con: The position as far as a clock is concerned appeared to be 2:15-2:30.
Con: Third candle on my 4hr chart

Did I miss anything?

Other factors I can't help but consider:

The overall trend is down
Live price action seemed a little week
DJIA futures were positive but barely

Happy trades,
fxstir
  • #11,432
  • Sep 13, 2011 1:52am Sep 13, 2011 1:52am
sell xauusd h1 sell @ 1826.52 sl: 1837.70 tp:1808.15

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  • #11,433
  • Sep 13, 2011 3:13am Sep 13, 2011 3:13am
Quoting amiralifx
sell xauusd h1 sell @ 1826.52 sl: 1837.70 tp:1808.15

Attachment
Attached Image (click to enlarge)
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  • #11,434
  • Edited 5:09am Sep 13, 2011 4:32am | Edited 5:09am
USD/CAD H4 seems interesting

http://img847.imageshack.us/img847/567/63140020.jpg



Update #1: I decided to go long, what do you guys think about that

http://img190.imageshack.us/img190/5246/87317939.jpg
  • #11,435
  • Sep 13, 2011 5:07am Sep 13, 2011 5:07am
Quoting Callisto
IF his account was $5,000,000, his risk is 2% per, and the signals valid for HIS trading plan, then there is no reason why he would not take the trade, right?

To me, and many other traders, it is not the amount at risk but the percentage, define the risk before entering the trade, then:

- Anything can happen.

- You don't need to know what is going to happen next in order to make money.

[b][size=3][color=blue]- There...
AMEN BROTHER
All should read Mark before trading
  • #11,436
  • Sep 13, 2011 5:08am Sep 13, 2011 5:08am
Quoting Callisto
IF his account was $5,000,000, his risk is 2% per, and the signals valid for HIS trading plan, then there is no reason why he would not take the trade, right?

To me, and many other traders, it is not the amount at risk but the percentage, define the risk before entering the trade, then:......
Callisto,

I understand and agree with most of what you said, i wasnt having a go at amiralifx, i was simply asking for his reasons for taking the trade, i was looking for more insight in to his/her trading plan. I was looking for a sell signal while amiralifx had just bought. seeing as though amiralifx is new here i thought i may be able to help out a bit.
  • #11,437
  • Sep 13, 2011 5:10am Sep 13, 2011 5:10am
A question on the system.

I normally close my positions on a Friday no matter how good (or bad) they are doing, because you never know what will happen over a weekend.

I trade with the 4 hour charts and my stops are normally quite wide so I do have quite a lot of space.

Does anyone hold their positions over the weekend? Is the system reliable enough?
  • #11,438
  • Sep 13, 2011 5:34am Sep 13, 2011 5:34am
Yesterdays results:
I took most my trades as 0.5 lots and took 50% profit at first point of resistance for most trades. This is a rule I live by and it really helps me to let a trade run when I know I've already banked profits.

11 trades: 7 wins, 3 losses 1 exit at BE. I dont recommend over trading but its a demo account and every trade I took ticked all the boxes before entering. I need to make all my mistakes now before I hit the live account. Very profitable day ; )

----------------------

I have yet to take a trade today, started a bit late, missed the last 4h candle, might take a 1hr trade if I see one.
Attached Image (click to enlarge)
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  • #11,439
  • Sep 13, 2011 5:55am Sep 13, 2011 5:55am
Quoting twenty155
Yesterdays results:
I took most my trades as 0.5 lots and took 50% profit at first point of resistance for most trades. This is a rule I live by and it really helps me to let a trade run when I know I've already banked profits.

11 trades: 7 wins, 3 losses 1 exit at BE. I dont recommend over trading but its a demo account and every trade I took ticked all the boxes before entering. I need to make all my mistakes now before I hit the live account. Very profitable day ; )

----------------------

I have yet to take a trade today, started a bit...
I noticed that you made a mistake with 4 lots. If only I was demoing this morning while buying UC... At the time I executed trade something happened with internet connection, and the screen was frozen. Stupidly I clicked numerous times, instead of good old "three keys of death". So when I opened mt4 again, I found myself in trading usd/ hungarian forint, 1 full lot of real money and loosing 255 EUR. So lost way out more that gained on swiss last week... It's life...
  • #11,440
  • Sep 13, 2011 5:55am Sep 13, 2011 5:55am
Heres a late trade I just took and reasons behind taking it. Eur.Aud long at 1.3258. +3 pips at the moment but its struggling to move.
Attached Image (click to enlarge)
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