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Trading Made Simple

  • #13,601
  • Nov 18, 2011 1:06am Nov 18, 2011 1:06am
Most of the H4 charts are sitting around the 32 / 68 marks and showing minimal price action. Most set ups are not looking like good TDI entry rules - possible fractal breaks if PA kicks in, but all speculative at this time!

Day charts that are moving are past the 2nd / 3rd candles, so best left alone unless there are any good fractal set ups to accomany a TDI bounce / cross with PA.

Only 2 positions taken this week

gu - TP1 not hit - closed early on trade stalling for +30
gu - TP2 allowed to run and then added TS50 - taken out for +120
au - TP1 set at 100pips but closed manually as the trade intially stalled around 1.0000 for +42
au - TP2 set to run with a SL set at 1.017 and was taken out for +28

Month to date = +547 with a trading accuracy of 81% and a pip win to loss ratio of over 3:1 (not even close to X-Man )

Not a huge day for news for this Friday, so I am done for the week - sticking to my rules on reducing the # of trades to A+ set ups - gets me away from overtrading.

See you all next week - happy trading folks.
"To live with Passion, it takes Courage and Grace to survive"
  • #13,602
  • Nov 18, 2011 1:09am Nov 18, 2011 1:09am
Goodmorning guys,

I see a potential setup forming on the EUR/CAD so keep your eyes on this pair. Dont enter just yet because the green TDI line is just piercing the blue bands so i expect a potential upward push . PA might go and touch the top of the SHI channel before going down. I would wait until TDI makes a downward cross.
My Sl would be just above the SHI channel.
Attached Image (click to enlarge)
Click to Enlarge Name: eurcad.jpg Size: 129 KB
X-man the legendary conqueror of markets
  • #13,603
  • Nov 18, 2011 1:17am Nov 18, 2011 1:17am
  •  fivex
  • | Joined Sep 2011 | Status: This is the title that appears | 247 Posts
Quoting Britpip7
Most of the H4 charts are sitting around the 32 / 68 marks and showing minimal price action. Most set ups are not looking like good TDI entry rules - possible fractal breaks if PA kicks in, but all speculative at this time!

Day charts that are moving are past the 2nd / 3rd candles, so best left alone unless there are any good fractal set ups to accomany a TDI bounce / cross with PA.

Only 2 positions taken this week

gu - TP1 not hit - closed early on trade stalling for +30
gu - TP2 allowed to run and then added TS50 - taken out for +120
au...
well done. i need to refocus on "my" basics of TMS, I have lost my way.
but AUD/CHF treated me well so far this week.
  • #13,604
  • Nov 18, 2011 1:22am Nov 18, 2011 1:22am
Quoting fivex
could be fun, its a fresh 4H in a few.
Not much happening in uj since the BOJ intervention
"To live with Passion, it takes Courage and Grace to survive"
  • #13,605
  • Nov 18, 2011 2:56am Nov 18, 2011 2:56am
Quoting X-Man
Goodmorning guys,

I see a potential setup forming on the EUR/CAD so keep your eyes on this pair. Dont enter just yet because the green TDI line is just piercing the blue bands so i expect a potential upward push . PA might go and touch the top of the SHI channel before going down. I would wait until TDI makes a downward cross.
My Sl would be just above the SHI channel.
X-Man, Thank you, this configuration is interesting and promising!
  • #13,606
  • Nov 18, 2011 3:59am Nov 18, 2011 3:59am
Guys , on CAD/CHF 4 h is forming possible setup of X-Man . Have a look
  • #13,607
  • Nov 18, 2011 4:07am Nov 18, 2011 4:07am
yip this looks like a nice setup happening here.
Attached Image (click to enlarge)
Click to Enlarge Name: setup.jpg Size: 126 KB
X-man the legendary conqueror of markets
  • #13,608
  • Nov 18, 2011 4:26am Nov 18, 2011 4:26am
Quoting X-Man
yip this looks like a nice setup happening here.
Hi X-Man , let me ask , shall we wait till TDI cross + forming of strong trend synergy bar ? Also that bar should be No.1 ?

Thanks
  • #13,609
  • Nov 18, 2011 6:00am Nov 18, 2011 6:00am
I would wait for the TDI to cross then enter. I wouldnt worry about the 1st candle formation as long as it changed color because this is a swing trade so ill keep these trade open until it hit TP .
I only worry about the first candle formation when I scalp the 4H chart, this is to get the momentum.
X-man the legendary conqueror of markets
  • #13,610
  • Nov 18, 2011 6:07am Nov 18, 2011 6:07am
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad1.gif Size: 28 KB
  • #13,611
  • Nov 18, 2011 6:11am Nov 18, 2011 6:11am
Quoting X-Man
I would wait for the TDI to cross then enter. I wouldnt worry about the 1st candle formation as long as it changed color because this is a swing trade so ill keep these trade open until it hit TP .
I only worry about the first candle formation when I scalp the 4H chart, this is to get the momentum.
Hi X-Man

Thanks for sharing this trade setup and insight.

A quick question if I may, would you have scalped the start of the downward movement using the rules previously advised?
We're all just one trade away from humility.
  • #13,612
  • Nov 18, 2011 8:15am Nov 18, 2011 8:15am
Another nice move up on the EU since the Frankfurt Open.....helped along by some news....moved the 50 pip TP to 100 which got hit.....a very good week! TMS works...just follow the simple rules and don't try to outsmart the market. Base all your decisions on PA confirmed by the TDI and you can be successful!
Attached Image (click to enlarge)
Click to Enlarge Name: eu week ending 11-18-11.jpg Size: 146 KB
  • #13,613
  • Nov 18, 2011 8:25am Nov 18, 2011 8:25am
Quoting Phx62
Another nice move up on the EU since the Frankfurt Open.....helped along by some news....moved the 50 pip TP to 100 which got hit.....a very good week! TMS works...just follow the simple rules and don't try to outsmart the market. Base all your decisions on PA confirmed by the TDI and you can be successful!

You da man!!
  • #13,614
  • Nov 18, 2011 10:16am Nov 18, 2011 10:16am
Quoting Phx62
Another nice move up on the EU since the Frankfurt Open.....helped along by some news....moved the 50 pip TP to 100 which got hit.....a very good week! TMS works...just follow the simple rules and don't try to outsmart the market. Base all your decisions on PA confirmed by the TDI and you can be successful!
You are the man.
  • #13,615
  • Nov 18, 2011 10:29am Nov 18, 2011 10:29am
Nice Divergence and move with TDI cross

http://content.screencast.com/users/...326/EURAUD.png
"All good things come to those who wait..."
  • #13,616
  • Nov 18, 2011 10:37am Nov 18, 2011 10:37am
Took one more trade on the H1 this morning....hit the TP.....done for the week.
Attached Image (click to enlarge)
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  • #13,617
  • Nov 18, 2011 10:48am Nov 18, 2011 10:48am
Quoting LazyLobster
X-man a question about what you have said above. Lets say you see a deal on the Euro and Cable, since their profiles often correlate (what you hinted on above) If you get into both deals with your standard amount of lots, Aren't you just risking more on the same deal? Since they correlate, if one reverses; chances are they both reverse? I am asking because I tend to want to diversify my trading pairs, hence if I trade a USD pair, I am very careful about entering elsewhere on another USD pair. Please, what are your thoughts? Thanks.
Lobster,

I have battled with this subject for a long while and the biggest issue that I face on these decisions is that being in mutiple pairs does increase your risk and if they are correlating and all reverse.... ouch.

If I am going to increase my risk, I will only do it to add on to an existing position with great re-entry points. With that approach, the risk does not increase dramatically as you will have moved SL up on previous entries - I covered this on one of my earlier TMS + Fractal posts.

If you want to have some fun with correlating pairs, try a form of hedging - go long on the e/u and short on the g/u when they are on major consolidation - set these up as pending trades with trigger points above / below the recent fractals and see which one triggers! Better do this on a demo for a while - there was a technique being bounced around a while ago - prob still on youtube once you gat past the dancing squirrel - it was called Double Trigger and calls for the same approach but on one pair before news events - most brokers don't allow this in the US as it breaks their hedging rules. Anyway - nothing to do with TMS but may be worth a look.
"To live with Passion, it takes Courage and Grace to survive"
  • #13,618
  • Nov 18, 2011 12:37pm Nov 18, 2011 12:37pm
Quoting ForexIdiot
Ok, I am still by page 173 but have gotten my ass handed to me every single day since Tuesday after several weeks doing awesome. Have the trading rules been modified/different from what Big E explains in the first 173 pages?
First off - well done for reading so far into the thread - maybe your example can serve as a lesson to more folks on this thread.

Secondly - post some charts on a good trade and then a trade that tanked and ask for feedback
"To live with Passion, it takes Courage and Grace to survive"
  • #13,619
  • Nov 18, 2011 12:51pm Nov 18, 2011 12:51pm
Here's some of my favourite quotes from the man - WB. They fit so well to 4x and especailly TMS

“It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you'll do things differently.”

“In the business world, the rearview mirror is always clearer than the windshield.”

“Risk comes from not knowing what you're doing.”

“Wide diversification is only required when investors do not understand what they are doing.”

“There seems to be some perverse human characteristic that likes to make easy things difficult.”
"To live with Passion, it takes Courage and Grace to survive"
  • #13,620
  • Nov 18, 2011 3:45pm Nov 18, 2011 3:45pm
Quoting antantnz
Would you mind sharing what software you're using to do the screenshots & uploads - could definitely be handy for those of us unable to use mt4 from work. Thanks!
I'm using freeware in combination with Task Scheduler in Windows (still XP ):

 

  1. X-Shot 2002 (http://www.nonags.com/nonags/grcapt.html)
  2. GoogleCL (http://code.google.com/p/googlecl/)

X-Shot makes the screenshots and has a built-in timer.
I use GoogleCL in cmd files to automatically create new albums in Picasa and to upload the screenshots made by X-Shot.

Create album on Picasa with current date as name

Inserted Code
D:googlecl-win32-0.9.13google picasa create "%DATE%"

Upload screenshots to album
Inserted Code
D:googlecl-win32-0.9.13google picasa post "%DATE%" d:screenshots*.* --tags "%DATE% %TIME%"
del /Q d:screenshots*.*
(backslashes are somehow not supported here at FF..)

Finally I use Windows Task Scheduler to schedule running the CMD's.
Financial independence is what I live for
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