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Trading Made Simple

  • #13,901
  • Nov 30, 2011 10:28pm Nov 30, 2011 10:28pm
To the guys who are using ATR to define their exists:

Are you guys still exiting when the TDI goes flat or hooks back? Or are you *mostly* sticking to your TP and SL's you set with ATR to define your exists?

I find myself exiting early often when the TDI flattens out, only to see the next few candles go back in the same direction and thinking if only I had of let it run.
  • #13,902
  • Dec 1, 2011 1:08am Dec 1, 2011 1:08am
my experience: TDI flat, hook, safe conservative exit but will keep you out of rebounds that sometimes continue for good gains, in other words, you will only make pips on strong, clean trends.
Waiting for the crossback will get you a heap of pips more, WHEN they bounce the right way but more risky. ( I like this 1)
Simply trade and find your preference.
  • #13,903
  • Dec 1, 2011 1:13am Dec 1, 2011 1:13am
Quoting Rodcisal
hello guys,

I'm pretty new using this system and I noticed that during news it's harder to trade.

Experienced traders using TMS, do you trade during news?



regards.
Unless you are fond of pain, Rod, wait till next year to start doing news plays, simply stay out or flat on major announcements unless you are in a longer term position like a 2-3 day swing.
Thanks for your message.
  • #13,904
  • Edited 1:48am Dec 1, 2011 1:22am | Edited 1:48am
Quoting John D
Scoobied,

Revisit your chart setup. You are missing the moving average (MA). The green line plotted across your HA candles is a price line graph not a moving average...hope that helps,
JD


Attachment
Also I might add do not panic about a single hesitation candle which happens all the time...
  • #13,905
  • Dec 1, 2011 4:08am Dec 1, 2011 4:08am
live trading

buy eurusd h1

Attached Image (click to enlarge)
Click to Enlarge Name: buy eurusd h1.gif Size: 18 KB
  • #13,906
  • Dec 1, 2011 4:41am Dec 1, 2011 4:41am
Quoting Phx62
In answer to your comments, attached is a chart for the three trades I took this morning.
Trade 1 Following the close of the first red candle and a cross of the TDI, plus knowing volume increases at the opening of the London session, I entered the trade. It moved about 28 pips in my favor and then reversed. I closed it at breakeven.
Trade 2 On the close of the first blue candle and cross of the TDI, I tried several times to enter a trade but due to volume (from GBP news), the trade was not opened until the third or fouth try. It...

hey Phx,
in the first trade, you said you closed at BE, so when do you set your SL to BE? or at how much +pips you move your SL from 50?

regards,
J
  • #13,907
  • Dec 1, 2011 7:25am Dec 1, 2011 7:25am
Quoting amiralifx
live trading

buy eurusd h1

Attachment
exit with 0 pip
  • #13,908
  • Dec 1, 2011 7:56am Dec 1, 2011 7:56am
Can I ask you what was your take profit for that eurusd trade?
  • #13,909
  • Dec 1, 2011 10:58am Dec 1, 2011 10:58am
Quoting tex_pn
Can I ask you what was your take profit for that eurusd trade?

my tp : 1.3570
  • #13,910
  • Dec 1, 2011 1:00pm Dec 1, 2011 1:00pm
Attached Image (click to enlarge)
Click to Enlarge Name: usdchf buy 1.12.11.gif Size: 18 KB
Quoting John D
Scoobied,

Revisit your chart setup. You are missing the moving average (MA). The green line plotted across your HA candles is a price line graph not a moving average.

Attachment
JD,

Thanks for that. Can you review the set up below and whether this is a good time to take the trade? Please can you clarify how you use the MA in relation to the green and red lines crossing. I thought this was simply a double check, i.e. when the MA crosses the HA candles, it confirms the trade is on. Am I right?

Thanks
  • #13,911
  • Dec 1, 2011 1:11pm Dec 1, 2011 1:11pm
Quoting geosanuy
Also I might add do not panic about a single hesitation candle which happens all the time...
Hi Geosanuy

Please could you clarify what you mean by "hesitation candle". Thanks.
  • #13,912
  • Dec 1, 2011 1:49pm Dec 1, 2011 1:49pm
Today a lot of false signals
In what may be a problem?
  • #13,913
  • Dec 1, 2011 3:59pm Dec 1, 2011 3:59pm
Are there any good books out there that deal specifically with fundamentals that apply to forex?I know this is kinda off topic but i thought maybe someone in here might know.

I noticed yesterday some big moves because of news.Luckily i happened to be on the right end of those trades.If i wasnt it could have been ugly.

Im currently in four trades and im +1100 pips and counting
  • #13,914
  • Dec 1, 2011 4:08pm Dec 1, 2011 4:08pm
So it looks like you don't need any "fundamentals" knowledge at all.
It seems your technical skills are serving your pretty well
  • #13,915
  • Dec 1, 2011 4:11pm Dec 1, 2011 4:11pm
Quoting kingclarence
Are there any good books out there that deal specifically with fundamentals that apply to forex?I know this is kinda off topic but i thought maybe someone in here might know.

I noticed yesterday some big moves because of news.Luckily i happened to be on the right end of those trades.If i wasnt it could have been ugly.

Im currently in four trades and im +1100 pips and counting
Show me your ways. I've done nothing but lose almost half of my capital in the past week.
  • #13,916
  • Dec 1, 2011 4:19pm Dec 1, 2011 4:19pm
Quoting TSforex
Today a lot of false signals
In what may be a problem?
Today the three amigos were ranging.
This is easily spotted on H4:
- Flat EMA5
- Small candles with wicks
Financial independence is what I live for
  • #13,917
  • Dec 1, 2011 4:26pm Dec 1, 2011 4:26pm
Quoting Forexsaurus
Show me your ways. I've done nothing but lose almost half of my capital in the past week.
well honestly im not qualified to give advice.Ive only been trading forex maybe three months.all the stuff i know though came from these factors.

A.I read the entire school of pipsology slowly.In fact i still go back and read it when im wondering something.

B.I went through this thread and read the posts of the main guys and looked at their attachments over and over again.

C.I have a demo account that i use to experiment with.I trade it and my real account at the same time.I use the demo account to do trades im wondering about and wanna see what happens.

D.I found a time frame that fits my personality which is the daily.Im lazy.For me i would like a very very small time frame or a large one.I like being all the way in or all the way out lol.I wanna be in front of the computer and monitor the trade the whole time or hardly ever in front of it lol.

E.I started trading live really quickly.I just used small pip amounts.Thats because when i lose or mess up i wanna feel the sting a little bit.I like when its something on the line.It makes it more fun for me and i also learn faster when i have consequences to my actions.
  • #13,918
  • Dec 1, 2011 4:29pm Dec 1, 2011 4:29pm
Quoting Forexsaurus
Show me your ways. I've done nothing but lose almost half of my capital in the past week.
Forget about fundamentals, you need to get a grasp of POSITION SIZING, no way to lose half your account if you only RISK 2% per trade, well you could, but you need 34 losing trades in a row, in which case , you need a review of your trading method.

You don't need to trade BIG lots to make money: but you do you need to stay in the game to be able to come out ahead.

Frankie Dunn: You forgot the rule. Now, what is the rule?
Maggie Fitzgerald: Keep my left up?
Frankie Dunn: Is to protect yourself at all times. Now, what is the rule?
Maggie Fitzgerald: Protect myself at all times.
Frankie Dunn: Good. Good.
Attached Image (click to enlarge)
Click to Enlarge Name: 34_loss.png Size: 51 KB
It takes a lot for me to IGNORE you, but you can try.
  • #13,919
  • Dec 1, 2011 4:59pm Dec 1, 2011 4:59pm
Yeah... when news like that hits the market you'll better be protected with an acceptable SL, because you'll never know how the market will behave.
You know the saying "better safe than sorry".
And if happens to be on the right side of price.. lucky you

There's no "fundamentals" in the world that can "tell" you about a spike like this, a japan earthquake or a SNB intervention.
  • #13,920
  • Dec 1, 2011 6:39pm Dec 1, 2011 6:39pm
I chose your thread ellfranz and like your attitude and your system, so I would like to find out how to join. Regards, Noosaville
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