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Trading Made Simple

  • #13,721
  • Nov 22, 2011 11:56pm Nov 22, 2011 11:56pm
Quoting luckyeranch
Hi X-man,

You post some really helpful stuff - thank you!

But, I feel I should point out out that there are only 5 hours between London & New York Forex market open times.

London opens at 08.00 GMT, and New York opens at 13.00 GMT (these times translate to 02.00 CST, and 07.00 CST where I live - in Central Texas, USA).
Hey there luckyeranch

You are right
So if I want to trade the 1H chart those are the times i would look for set ups in order to catch most of the momentum.
X-man the legendary conqueror of markets
  • #13,722
  • Nov 23, 2011 12:12am Nov 23, 2011 12:12am
ive put you on a must read thread

y
  • #13,723
  • Nov 23, 2011 12:14am Nov 23, 2011 12:14am
Hello
I've been reading the thread from the begining. I have read over 2000 posts but still have a lot to read. It seems later on big e's method has been altered by people. Is this on purpose? Is that how big e wanted it? with shi channel etc.

I've done some good trades on 4hr and am experimenting with 1hr trades when in 4hr there are no signals.

I've attached a trade I just took Can the experts please comment on if it was a good entry?
Attached Image (click to enlarge)
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  • #13,724
  • Nov 23, 2011 12:25am Nov 23, 2011 12:25am
Awesome thread guys. I really like this strategy and from the backtesting I've done on 4-Hour charts, it looks very good. Tonight is my first night using this strategy. My broker (FXDD) prints 4-Hour candles at 6/10 GMT. Therefore those are the two times I'm going to look for setups.

I just did the 6 GMT check and took two trades- Long GBPUSD and Short EURCAD. Both are TDI Bounce trades. Thoughts?
  • #13,725
  • Edited 2:57am Nov 23, 2011 1:42am | Edited 2:57am
I'm experimenting with the SHI channels and to be honest I'm still not sure I'm convinced by them yet ...

If I look at the EURUSD now (7:38am GMT), these are the results :

TF | SHI Direction
M15 | Down
M30 | Down
H1 | Up
H4 | Down
D1 | Up
W1 | Down

I know X you've talked about being focused on the daily trend, which in this case is Up, but surely that's forgetting that the 4/6 or 2/3 of them are saying down.

Just something for discussions.
1 pip at a time ... if the entries are strong, the rest will follow ...
  • #13,726
  • Nov 23, 2011 2:23am Nov 23, 2011 2:23am
I also experimenting with SHI channels and I’m the some similar situation. I litterbin confusing what TF is better to use for SHI channels

08:10 AM London time.
M15 Down
M30 Up
H1 Up
H4 down
D1 Up
W1 Down

If you have a small real account is dangerous to target only by large TF. What do you think?
Best regards
AdryLeo


Quoting antantnz
I'm experimenting with the SHI channels and to be honest I'm still not sure I'm convinced by them yet ...

If I look at the EURUSD now (7:38am GMT), these are the results :

TF | SHI Direction
M15 | Down
M30 | Down
H1 | Up
H4 | Down
D1 | Up
W1 | Down

I know X you've talked about focused on the daily trend, which in this case is Up, but surely that's forgetting that the 4/6 or 2/3 of them are saying down.

Just something for discussions.
  • #13,727
  • Nov 23, 2011 7:14am Nov 23, 2011 7:14am
Quoting sativa11
You are exactly right. The arrow moved/repaint on 6th candle forward, but the trend look changed. I decide to go on trading, keep observing. Thank you.
Uf, I must stop it immediately. I pay the experiment with 72 pips loss!. In fact Zig zag pointer is not for early warning system. Thanks for all who has paid attention on this experiment. Have a nice day.
  • #13,728
  • Nov 23, 2011 7:45am Nov 23, 2011 7:45am
Hi, guys!

I've been also experimenting with SHI channel and now I'm trying to see if it works if it is setup a timeframe higher than what your charts are set to. That way I can see what is the trend direction on the higher time frame and also what the supp / res are. I mean if you are doing 4H, set the SHI channel to show Daily.
"All good things come to those who wait..."
  • #13,729
  • Nov 23, 2011 8:17am Nov 23, 2011 8:17am
Of course the shi channel will show different for every TF, thats why i only use it for my 4H and daily.
If you guys think its complicated then do not add it to your chart coz every trader has his or her own trading style.
If you go to babypips you and see whats the purpose of a channel then it would be more clearer coz that channel can be drawn manually what i have given you guys is an automatic channel that will change on its own and you dont have to draw it manually.
Channels are forex basics , which allows traders to trade the bounce off the channel and at times PA will break through the channel coz it dont last forever.
X-man the legendary conqueror of markets
  • #13,730
  • Nov 23, 2011 10:34am Nov 23, 2011 10:34am
Guys if you traded today at the opening of london and then at the opening of new york you will notice there was no cross over trade on TDI there were 2 bounce trades.
and YES there was a slight crossover at the london opening but it was a weak cross that hardly made a nice cross(the cross wasnt convincing enough) so i knew it could be a bounce on TDI so if you guys went short at both sessions you guys would be successful. I made 50 pips in the london opening and 40 pips in new york opening.

Notice 1 thing that the movement from the london opening to the new york opening will mostly be in 1 direction.
the when new york session starts there would be a bounce off TDI or it will crossover and go in the other direction.
X-man the legendary conqueror of markets
  • #13,731
  • Nov 23, 2011 10:49am Nov 23, 2011 10:49am
When entering the trade realising price action do you just enter at market at the beginning of the 4 hour candle. Or do you see if there will be any type of retracement to possible get a better fill?
  • #13,732
  • Nov 23, 2011 11:04am Nov 23, 2011 11:04am
43 pips on the EurJpy. Got out a few pips above the swing low. Batting 1 of 3 now.
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  • #13,733
  • Nov 23, 2011 11:15am Nov 23, 2011 11:15am
hey sandrail

I'm only discussing the simple tms method using the 1H TF just like how PHX62 trades which is the original system (the way big E thought us)
i will not be discussing my swing trades because I see thats leading some newbies off the original system.

I will be mainly looking for 2 trades a day at the london opening and the newyork opening.
The trade that i take during london opening will be closed 1 or 2 hours before the new york session can start or will be closed if it reaches 50pips (which ever is earlier).
The new york trade will be closed if it reaches 50 pips or will run it for 3 candles and close for whatever i have
X-man the legendary conqueror of markets
  • #13,734
  • Nov 23, 2011 1:32pm Nov 23, 2011 1:32pm
This became a TDI bounce as the fractal low was broken, so this was taken on the first candle of the bounce (it was taken about half was into the candle)

This is my second bite at A/U this week - 2 positions per entry with 3 positions closed for +75, +65, +65 with one open currently at +73 with 25 pips protected.

Another great week on H4 with TMS (+ fractals) I am of course entering as TDI is heading into oversold territory, but with current momentum, it looked very safe.
Attached Image (click to enlarge)
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"To live with Passion, it takes Courage and Grace to survive"
  • #13,735
  • Nov 23, 2011 1:42pm Nov 23, 2011 1:42pm
Quoting X-Man
Guys if you traded today at the opening of london and then at the opening of new york you will notice there was no cross over trade on TDI there were 2 bounce trades.
and YES there was a slight crossover at the london opening but it was a weak cross that hardly made a nice cross(the cross wasnt convincing enough) so i knew it could be a bounce on TDI so if you guys went short at both sessions you guys would be successful. I made 50 pips in the london opening and 40 pips in new york opening.

Notice 1 thing that the movement from the london...
... I shorted the first bounce too late and the second one wasn't ideal.
Lucked out on both really since some pips were made.
Working and trading are reallllly hard to combine...
Attached Image (click to enlarge)
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Financial independence is what I live for
  • #13,736
  • Nov 24, 2011 12:26am Nov 24, 2011 12:26am
This is a great method and should have a skype room. Was this ever done? I could take the initiative. I would be in the room during london and first 2 hrs of ny session.

We can trade simply as BIG E would. and we can help each other see good entries.
  • #13,737
  • Nov 24, 2011 12:59am Nov 24, 2011 12:59am
There are (have been) several Skype rooms although to be honest the method is so simple that there really shouldn't be too much discussion
  • #13,738
  • Edited 1:45am Nov 24, 2011 1:33am | Edited 1:45am
  •  fivex
  • | Joined Sep 2011 | Status: This is the title that appears | 247 Posts
Quoting juliant
There are (have been) several Skype rooms although to be honest the method is so simple that there really shouldn't be too much discussion
thats why we all keep coming back.... including you
  • #13,739
  • Nov 24, 2011 1:56am Nov 24, 2011 1:56am
Hi!
Here is my entry on nzdusd:
Attached Image (click to enlarge)
Click to Enlarge Name: nzd.jpg Size: 141 KB


-crossover
-below 32 line
-stoch confirm
-rsi above 50
  • #13,740
  • Nov 24, 2011 1:58am Nov 24, 2011 1:58am
  •  fivex
  • | Joined Sep 2011 | Status: This is the title that appears | 247 Posts
Aud<>? on 4h all looking good.
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