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Trading Made Simple

  • #13,841
  • Nov 29, 2011 7:05am Nov 29, 2011 7:05am
Another trade heading towards FTA. If it breaks the FTA, there is a possibility of a good runner. Let's see.
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Forex is boring but profitable with patience and discipline
  • #13,842
  • Nov 29, 2011 7:25am Nov 29, 2011 7:25am
Quoting Phx62
A nice start to the week.....121 pips for the day on two trades taken per the rules of the TMS and my own trading plan.

did you take the first trade before candle close?
  • #13,843
  • Nov 29, 2011 7:32am Nov 29, 2011 7:32am
Well, I'm gong to give this Forex thing another shot. Glad to see this forum is still going strong.
  • #13,844
  • Nov 29, 2011 7:40am Nov 29, 2011 7:40am
Quoting Phx62
A nice start to the week.....121 pips for the day on two trades taken per the rules of the TMS and my own trading plan.
how did you determine your exits on these trades?
  • #13,845
  • Nov 29, 2011 7:47am Nov 29, 2011 7:47am
Quoting tex_pn
Phx62.. it is inspiring to look at you trading results. I'm 110% sure that this system is profitable, but i think I, personally, need some finetunning.
I would like to ask you something to clarify something in my head :
In your trade you took yesterday buying EURUSD, 4 hours earlier than your actual entry was a sell signal. You obviously didn't take it. Why is that?
I only trade the Frankfurt/London session on H1 (green boxes on my chart). The cross you asked about occurred during the Asian session, which seldom generates enough PA to trade consistantly.
  • #13,846
  • Nov 29, 2011 7:58am Nov 29, 2011 7:58am
Quoting mikiantony
did you take the first trade before candle close?
Yes....per Big E's TMS rules, entry can be made on the 1st or 2nd candle based on a change in candle color and a TDI cross. The TDI had crossed, the candle had change to blue, so I waited for PA to clear the high of the previous candle and entered with my normal 50 pip TP. PA was strong so I moved my TP to 100 but PA did not get there. I exited on the pullback for 71 pips.
  • #13,847
  • Edited 8:32am Nov 29, 2011 8:00am | Edited 8:32am
hi can any one add alert to the synergy apb indicator .when it change its color ..a sound an email.it would be great help
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  • #13,848
  • Nov 29, 2011 8:02am Nov 29, 2011 8:02am
live trading

sell eurusd h1

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  • #13,849
  • Nov 29, 2011 8:08am Nov 29, 2011 8:08am
Quoting smash85
how did you determine your exits on these trades?
I enter my trades with a 50 pip TP and a 50 pip emergency SL. When PA is strong, I may move my TP to 100 or 200. Very seldom do I allow the trade to take out my 50 pip SL. I will usually exit after 15 to 25 pips, if the trade pulls back.
  • #13,850
  • Nov 29, 2011 8:36am Nov 29, 2011 8:36am
Quoting Phx62
I enter my trades with a 50 pip TP and a 50 pip emergency SL. When PA is strong, I may move my TP to 100 or 200. Very seldom do I allow the trade to take out my 50 pip SL. I will usually exit after 15 to 25 pips, if the trade pulls back.
ok, thanks for your reply. But why don´t you set a stopp loss at 20 pips then? :-)
  • #13,851
  • Nov 29, 2011 9:29am Nov 29, 2011 9:29am
EURAUD - Missed the initial setup which turned out to be a runner. Nonetheless, managed to scrap couple of hundred pips in second run.
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Forex is boring but profitable with patience and discipline
  • #13,852
  • Nov 29, 2011 9:50am Nov 29, 2011 9:50am
First of all, please dont look at my chart and think that I am over complicating trading. The lines are simply there to help me see S/R levels clearer. (I already know which ones to ignore. This is the craig harris template and I have no clue how to selectively get rid of certain things) Also, the candle stick behind the HA candles so I can clearly see what the candle looks like.

The red vertical line shows where I entered the traded. AT this point the price was heading down and the TDI was at a very good angle.

The problem I keep running into is this senerio. Price quickly reverses and goes the opposite direction. At this point I remove my trade fr a 40 pip SL.

I still cannot figure out what I am missing. The method itself makes sense but I am not sure what it is that I am not spotting.
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  • #13,853
  • Edited 10:09am Nov 29, 2011 10:07am | Edited 10:09am
Quoting hale-mary
First of all, please dont look at my chart and think that I am over complicating trading. The lines are simply there to help me see S/R levels clearer. (I already know which ones to ignore. This is the craig harris template and I have no clue how to selectively get rid of certain things) Also, the candle stick behind the HA candles so I can clearly see what the candle looks like.

The red vertical line shows where I entered the traded. AT this point the price was heading down and the TDI was at a very good angle.

The problem I keep running into...
Let me give a try if I can help on this one. The TDI cross itself doesn't mean anything - it is simply another lagging indicator. The trader has to keep an eye on the surroundings as well and try to identify the trouble areas before taking the trade. The GBPUSD trade which reversed on you should not be a surprised as the price was heading straight towards support (dashed blue line). Many times price sliced through S&R, however, one needs to confirm before jumping the trade.

Try to take trades which has space to run and hopefully your win rate will improve. It will also give you enough time to move your SL to BE if you are taking short term trades.

Hope this helps
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Forex is boring but profitable with patience and discipline
  • #13,854
  • Nov 29, 2011 10:13am Nov 29, 2011 10:13am
hmm...okay thanks. by the way what does FTA mean? i see it in your posts often
  • #13,855
  • Nov 29, 2011 10:26am Nov 29, 2011 10:26am
[quote=hale-mary;5177624]First of all, please dont look at my chart and think that I am over complicating trading. The lines are simply there to help me see S/R levels clearer. (I already know which ones to ignore. This is the craig harris template and I have no clue how to selectively get rid of certain things)

May I suggest you delete the template and simply add fractals. Fractals point out obvious highs and lows and when you look left and see several around the same price you have an obvious S or R. Think in terms of zones and not just a specific price. If you candle plows through a zone hope on board.
  • #13,856
  • Nov 29, 2011 10:39am Nov 29, 2011 10:39am
I dont like fractals at all. I have seen too many times that prices can break a swing point only to come back to it. Plus, those on on my chart too. I have added the 5 sma which might be what I was missing. i am reviewing setups now. I am trying to stick with eelfranz original method. And only add stuff that might help me. As of right now. I am slowly going to start removing excess stuff on the charts one by one. (ONe I figure out how to delete certain indications of that custom indicator)
  • #13,857
  • Nov 29, 2011 10:43am Nov 29, 2011 10:43am
Quoting hale-mary
hmm...okay thanks. by the way what does FTA mean? i see it in your posts often

FTA = First trouble area

Just to clarify my buy entry was based on 8H TF. I posted the 1H TF chart for illustration purposes.
Forex is boring but profitable with patience and discipline
  • #13,858
  • Nov 29, 2011 10:44am Nov 29, 2011 10:44am
Quoting hale-mary
hmm...okay thanks. by the way what does FTA mean? i see it in your posts often
FTA = First trouble area - a potential small supply/demand area above/below your entry where price may stall or retrace against you
  • #13,859
  • Nov 29, 2011 10:45am Nov 29, 2011 10:45am
Ya beat me by a second

  • #13,860
  • Edited 11:11am Nov 29, 2011 10:59am | Edited 11:11am
Quoting nunrgguy
FTA = First trouble area - a potential small supply/demand area above/below your entry where price may stall or retrace against you
AHHHH. Thought that looked familiar. That reminds me of the Sam Seiden stuff.

One more clarification. We are NOT looking for the close of candle one or two to enter a trade along with TDI agreement, correct?

As the candle forms (1 or 2) and we get TDI agreement we can enter right? I may be waiting for the candle closes to enter and because the candles may have a large move enering at the close usually causes me to get in at a pullack
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