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Trading Made Simple

  • #13,141
  • Nov 1, 2011 11:41am Nov 1, 2011 11:41am
Quoting Callisto
Closer than you think... right here on FF

http://www.forexfactory.com/showthre...71#post2242871

and welcome to FF by the way

both are excellent indicators
Hi Callisto,

Can share me the market baseline in TDI?

my TDI dont have the market base line (yellow line).
  • #13,142
  • Nov 1, 2011 12:00pm Nov 1, 2011 12:00pm
Quoting firsttimer
Hi Callisto,

Can share me the market baseline in TDI?

my TDI dont have the market base line (yellow line).
R U sure?

Please have a look... if not, clip the "paperclip" top right of page, there are plenty of other TDI already loaded in this thread
Attached Image
OPPORTUNITY IS NOWHERE
  • #13,143
  • Nov 1, 2011 12:04pm Nov 1, 2011 12:04pm
After getting burned a little and trying to stay up for the london session i have decided to switch to the daily charts exclusively.I think this is whats gonna work best for me.

I might try the london when i move to the west coast but right now its way too tough and i tried.

Im currently up 300 pips and counting in one day on two trades.
  • #13,144
  • Nov 1, 2011 1:16pm Nov 1, 2011 1:16pm
Well - 2 of them anyway

Here's the charts for last night's set ups and resulting trades:

a/u - two positions taken after aussie bank rate news
TP1 hit for 142 pips (2XATR on H4)
TP2 not hit - manual close based on reversal (pip protection policy!) for 135 pips

g/u two positions set up for pending trades
TP1 hit for 134 pips (2XATR on H4)
TP2 not hit - manual close based on reversal (pip protection policy!) for 96 pips
Attached Image(s) (click to enlarge)
Click to Enlarge Name: aud usd 11-1.gif Size: 21 KB
Click to Enlarge Name: gbp usd 11-1.gif Size: 23 KB
"To live with Passion, it takes Courage and Grace to survive"
  • #13,145
  • Nov 1, 2011 1:55pm Nov 1, 2011 1:55pm
Quoting dean
Although you may be correct in regards to our attempts to mechanically trade, it is naive to think that you can simply spot a signal and take the trade the same way every time. THe forex market is dynamic. It would be foolish to simply trade the exact way every time. AS much as it makes it easier and less emotional to trade, a trader stull must use his intuition and judgement in his overall understanding of how the market flows. THis is exaclty why the results from this "simple" method of trading vary so greatly. So whilst its good mechanising...
I defer to your answer as sage advice for the experienced trader. But, what is a newer trader to do that does not yet have "...intuition and judgement in his overall understanding of how the market flows."
I am new to forex trading and my personal experience has been that when I rely on my poorly developed intuition and judgment is when I most often lose money.
So I have chosen to rely on a more mechanical set of rules until I do develop my experience level and with it my intuition and judgment.
This is just my opinion and am totally open to any suggestions for ways to speed up and improve my skill set in trading. Thanks.
  • #13,146
  • Nov 1, 2011 2:18pm Nov 1, 2011 2:18pm
Quoting dcginc
Callisto

It never was my thinking that made the big money for me. It always was my sitting. Got that? My sitting tight!

Thanks for posting this. I have kept that very quote within view for the last 4 years. I must read it 100 times a day. So simple and yet so critical and published in 1923!

As usual, posting some great trades and chart examples as well.

All the best.

dcginc
This is what im learning now.I noticed most of my losses were because of moving my stop loss or not giving a trade time to work.
  • #13,147
  • Nov 1, 2011 4:00pm Nov 1, 2011 4:00pm
Quoting Britpip7
Well - 2 of them anyway

Here's the charts for last night's set ups and resulting trades:

a/u - two positions taken after aussie bank rate news
TP1 hit for 142 pips (2XATR on H4)
TP2 not hit - manual close based on reversal (pip protection policy!) for 135 pips

g/u two positions set up for pending trades
TP1 hit for 134 pips (2XATR on H4)
TP2 not hit - manual close based on reversal (pip protection policy!) for 96 pips
How do you determine SL? 1xATR, 2x for a 1:1? Excellent results by the way, keep teaching us pls. Thanks, p.
  • #13,148
  • Nov 1, 2011 4:34pm Nov 1, 2011 4:34pm
Quoting piprac
How do you determine SL? 1xATR, 2x for a 1:1? Excellent results by the way, keep teaching us pls. Thanks, p.
Combination of things to look for.

Is the pair in a tight range? Look at lower timeframes and maybe to a 1XATR TP - never drop below a 1:1 risk/reward.

S/R levels - look to higher timeframes for possibilities.

If pair is reversing after a significant move, look at the range vs ATR and then determine if a 2XATR will work. Never try to set TP for the full run - be content with a 2XATR on your first position and a 4XATR on a second position. Ususally it will rest up for a while, set a new Fractal and then show another entry position on a Fractal Break / TDI bounce.

Moves where the TDI is above 68 / below 32 will be stronger.

If BRN is close to your TP levels, look to set TP above (for a short) / below (for a long) by maybe 10 pips.

The more you do, the more you see, the more you learn! Also, dcginc has written some great words on this topic.
"To live with Passion, it takes Courage and Grace to survive"
  • #13,149
  • Nov 1, 2011 5:07pm Nov 1, 2011 5:07pm
Hey Callisto,

What determines you candle colour? I see you have grey candles. They appear to be in areas of short term consolidation. How do you use them?

Brit,

Nice trades.
Everyone's got a plan until they get punched in the face
  • #13,150
  • Nov 1, 2011 6:49pm Nov 1, 2011 6:49pm
Quoting Callisto
sorry for your loss, tried to capture 1.5911 in the picture for you
rimary trend, deploy your positions, and then just hurry up and wait.

Let's see where the GBP-USD tomorrow...
Appreciate your sympathy, but...

1. you can't go broke taking a profit.
2. I later re-entered for another 42 pips.
  • #13,151
  • Nov 1, 2011 8:24pm Nov 1, 2011 8:24pm
Quoting Callisto
R U sure?

Please have a look... if not, clip the "paperclip" top right of page, there are plenty of other TDI already loaded in this thread
got it. thanks.
  • #13,152
  • Nov 1, 2011 8:30pm Nov 1, 2011 8:30pm
Quoting funwithbux
I defer to your answer as sage advice for the experienced trader. But, what is a newer trader to do that does not yet have "...intuition and judgement in his overall understanding of how the market flows."
I am new to forex trading and my personal experience has been that when I rely on my poorly developed intuition and judgment is when I most often lose money.
So I have chosen to rely on a more mechanical set of rules until I do develop my experience level and with it my intuition and judgment.
This is just my opinion and am totally open to...
I wasnt criticising you. TO be honest it seems like you are on the right path. Unfortunatley there is no way to speed up the learning process and the only TRUE way to develop intuitiion and judgement is screentime. Dont muddle your brain with a million different systems, concentrate on perfecting this one and watch closely what happens when you enter a trade.....sure read material about forex basics and maybe a few good books on emotion control, but the main reason for most good trader's success is screentime and mistakes...without them you learn nothing.
  • #13,153
  • Nov 1, 2011 8:44pm Nov 1, 2011 8:44pm
Quoting Britpip7
Well - 2 of them anyway

Here's the charts for last night's set ups and resulting trades:

a/u - two positions taken after aussie bank rate news
TP1 hit for 142 pips (2XATR on H4)
TP2 not hit - manual close based on reversal (pip protection policy!) for 135 pips

g/u two positions set up for pending trades
TP1 hit for 134 pips (2XATR on H4)
TP2 not hit - manual close based on reversal (pip protection policy!) for 96 pips
Can u pls post ur template?
thnx
  • #13,154
  • Nov 1, 2011 8:51pm Nov 1, 2011 8:51pm
Quoting MehdiForX
Hi everybody,
first thanks for all members who make this thread live.

Could you please confirm my position on EURUSD and GBPUSD 1H.
I enter long on those 2 trade at the open of the last candle.
I enter on those as bounce trade.

Thanks for your answer

Would you be willing to share your bottom two indicators?
Thanks!
  • #13,155
  • Nov 1, 2011 9:22pm Nov 1, 2011 9:22pm
Valid setup according to dean's fibo?

seems like entry for short.
Attached Image (click to enlarge)
Click to Enlarge Name: setup1.gif Size: 22 KB
  • #13,156
  • Nov 1, 2011 9:43pm Nov 1, 2011 9:43pm
Quoting firsttimer
Valid setup according to dean's fibo?

seems like entry for short.
gt stopped out.
  • #13,157
  • Nov 1, 2011 9:48pm Nov 1, 2011 9:48pm
Quoting firsttimer
gt stopped out.
Firstly, I would recommend not going below H1 TF, also, look at the angle of TDI cross, and it would have warned that it was weak.
  • #13,158
  • Nov 1, 2011 9:49pm Nov 1, 2011 9:49pm
Quoting geosanuy
Firstly, I would recommend not going below H1 TF, also, look at the angle of TDI cross, and it would have warned that it was weak.
Thanks.
  • #13,159
  • Nov 1, 2011 10:45pm Nov 1, 2011 10:45pm
......... support & resistance zones, same can be seen for EUR-USD around 1.3650 and GBP-USD at 1.5940, might be a tough day, or at least a few 4-hour candles, to trade but we shall see
Attached Image (click to enlarge)
Click to Enlarge Name: aus_zone.gif Size: 28 KB
OPPORTUNITY IS NOWHERE
  • #13,160
  • Nov 2, 2011 12:20am Nov 2, 2011 12:20am
Quoting 4xforex
Can u pls post ur template?
thnx
Suggest you load up Big E's templates from page 1 and the updates and then test the set-ups.

I have attached the reference materials that I have put together / acquired - also check on my earlier posts regarding indicators, etc.

With regards to other folks' templates - they will only load up correctly if you already have the indicators in your platform.
Attached File(s)
File Type: pdf TMS Advice for traders.pdf   62 KB | 1,831 downloads
File Type: doc MT4 navigational tips and techniques.doc   50 KB | 631 downloads
File Type: doc Forex Candlestick Patterns.doc   85 KB | 983 downloads
File Type: tpl 001 djc tms.tpl   5 KB | 601 downloads
"To live with Passion, it takes Courage and Grace to survive"
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