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Trading Made Simple

  • #14,021
  • Dec 8, 2011 12:04am Dec 8, 2011 12:04am
Looks like 1h eurusd chart
  • #14,022
  • Dec 8, 2011 1:12am Dec 8, 2011 1:12am
Quoting luckypips
@ bobbyj
at 12.15 GMT , I can join paltalk ,
thank you
I did not see you yesterday, did it work out for you?
  • #14,023
  • Edited 4:44am Dec 8, 2011 2:56am | Edited 4:44am
Quoting kingclarence
Wow you went short on that Eur/Gbp? No way i would have taken that.
Did you pass on this trade because TDI wasn't coming down from 68?
Update: the 'ole look to the left rule. There 's a huge support at 0.8500..
Forgot that one.
Financial independence is what I live for
  • #14,024
  • Dec 8, 2011 3:02am Dec 8, 2011 3:02am
Quoting stevebalmmer
you trade this only on daily chart?i have the 4 hours chart.
I find it hard to combine trading and working.
The daily allows me to go over the charts when I'm off work, just once a day at 11PM GMT+1.
Financial independence is what I live for
  • #14,025
  • Dec 8, 2011 3:12am Dec 8, 2011 3:12am
yes,
when you are working, you can not trade every 4 hours.
Quoting smatthew
I find it hard to combine trading and working.
The daily allows me to go over the charts when I'm off work, just once a day at 11PM GMT+1.
  • #14,026
  • Edited 8:00am Dec 8, 2011 7:57am | Edited 8:00am
hi guys and girls

entered EURUSD on second candle using TMS and ATRx2 for S/L and T/P

Entry= 1.3409
TP=1.3455
SL= 1.3363 (moved to 1.3412 after +30)
R:R= 1:1.
moved s/l to B/E+3 when PA reach +30.

through my back testing, i have noticed it is harder to make pips on 4hr when charts are ranging. but can make small pips on 1 hr when charts ranging.

GL All
Mark RC

EDIT: good timing as it turned other way.
Attached Image (click to enlarge)
Click to Enlarge Name: trading made simple example charts 3 1h.gif Size: 23 KB
  • #14,027
  • Dec 8, 2011 8:00am Dec 8, 2011 8:00am
Quoting smatthew
Did you pass on this trade because TDI wasn't coming down from 68?
Update: the 'ole look to the left rule. There 's a huge support at 0.8500..
Forgot that one.
The market was ranging as they call it.Plus the candle was small and the cross wasnt strong.On the daily i usually look for a candle thats at least about 120 pips long usually.For me candle size is very important.
  • #14,028
  • Dec 8, 2011 8:28am Dec 8, 2011 8:28am
I know its not recommended to trade around news announcements. But I couldn't resist today. I am finally starting to figure out the method and was able to have a very satisfying day. Thanks to those who set up the thread and contributed. I learned a substantial amount about price action and forex on this thread
  • #14,029
  • Dec 8, 2011 8:31am Dec 8, 2011 8:31am
What a day....
  • #14,030
  • Edited 9:19am Dec 8, 2011 9:10am | Edited 9:19am
Quoting kingclarence
The market was ranging as they call it.Plus the candle was small and the cross wasnt strong.On the daily i usually look for a candle thats at least about 120 pips long usually.For me candle size is very important.
I remember now you said a couple of posts back that the markets currently are consolidating (as far as the daily is concerned).
Small candles are telltale signs.

Funnily enough my short on EUR/GBP is the only one of three open trades that's barely positive: +20.
Long on GBP/JPY: -90 (SL at -100). --> update: stopped out.
Long on GBP/USD: -70 (SL at -100).

I'll review historical charts, looking for setups with large candles.
Financial independence is what I live for
  • #14,031
  • Dec 8, 2011 9:17am Dec 8, 2011 9:17am
Short on 2nd candle of 4HR GBPUSD.

2xATR= 88pips
ENTRY= 1.5643
SL= 1.5731

TDI good angle. good APB candles.
Attached Image (click to enlarge)
Click to Enlarge Name: trading made simple example charts 4 4hr.gif Size: 21 KB
  • #14,032
  • Dec 8, 2011 9:21am Dec 8, 2011 9:21am
Quoting smatthew
I remember now you said a couple of posts back that the markets currently are consolidating (as far as the daily is concerned).
Small candles are telltale signs.

Funnily enough my short on EUR/GBP is the only one of three open trades that's barely positive: +20.
Long on GBP/JPY: -90 (SL at -100).
Long on GBP/USD: -70 (SL at -100).

I'll review historical charts, looking for setups with large candles.
Yeah i dont see anything going on in the daily charts right now.Might be another week or so.Just gotta be patient.Something will come up trust me
  • #14,033
  • Dec 8, 2011 9:28am Dec 8, 2011 9:28am
Quoting Markrc
Short on 2nd candle of 4HR GBPUSD.

2xATR= 88pips
ENTRY= 1.5643
SL= 1.5731

TDI good angle. good APB candles.
Nice large red candles on H1, steep angle on TDI cross down.
However, judging by your chart, there does appear to be considerable support when you look to the left (something I myself often tend to forget ).
Hopefully GU will push down further, even if it means my 100 pip SL on demo D1 short trade will be hit .
Financial independence is what I live for
  • #14,034
  • Dec 8, 2011 9:38am Dec 8, 2011 9:38am
Quoting smatthew
Nice large red candles on H1, steep angle on TDI cross down.
However, judging by your chart, there does appear to be considerable support when you look to the left (something I myself often tend to forget ).
Hopefully GU will push down further, even if it means my 100 pip SL on demo D1 short trade will be hit .
cheers smatthew,

ye i saw the support, but candles were strong, and news driven, so il see how it goes. it is on demo, and new to trading lol. just gotta get stuck in whilst learning!
  • #14,035
  • Dec 8, 2011 10:27am Dec 8, 2011 10:27am
Attached screenshot is my attempt to identify trades on D1 that would have been profitable or just small losses. I've chosen AU at random.

I've marked TDI crosses and bounces with blue lines.
The horizontal lines are hundred levels.

I've adjusted the TDI indi to display arrows on the red-green crosses, slope of green line and asterisks (* = stochs agree) but please disregard those.

Big E often mentioned that candle size is a highly important factor.
Kingclarence quantified that by advising candle sizes of 120 pips (min.) to be considered as entry candles on D1.

Just for discussion
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD trade opportunities past months on daily.PNG Size: 71 KB
Financial independence is what I live for
  • #14,036
  • Dec 8, 2011 10:55am Dec 8, 2011 10:55am
short gbd-usd. h 4.
  • #14,037
  • Dec 8, 2011 11:14am Dec 8, 2011 11:14am
Quoting stevebalmmer
short gbd-usd. h 4.

slowing a bit. will see how new candle forms. If candle has a higher low, and TDI has tweeked 'up' or flat, il be exiting.

i dont like keeping trades passed London hours.
  • #14,038
  • Dec 8, 2011 11:19am Dec 8, 2011 11:19am
Quoting smatthew
Attached screenshot is my attempt to identify trades on D1 that would have been profitable or just small losses. I've chosen AU at random.

I've marked TDI crosses and bounces with blue lines.
The horizontal lines are hundred levels.

I've adjusted the TDI indi to display arrows on the red-green crosses, slope of green line and asterisks (* = stochs agree) but please disregard those.

Big E often mentioned that candle size is a highly important factor.
Kingclarence quantified that by advising candle sizes of 120 pips (min.) to be considered...
Yeah.I also pay attention to the candle size during trade also.usually when your in a trade they start getting smaller when it slows down.Some time that equals a reverse and sometime they gather steam and keep going in the same direction.Its rare for them to being going strong in one direction then shoot back the other way.
  • #14,039
  • Dec 8, 2011 11:31am Dec 8, 2011 11:31am
you mean the higher low at the blue candle?
Quoting Markrc
slowing a bit. will see how new candle forms. If candle has a higher low, and TDI has tweeked 'up' or flat, il be exiting.

i dont like keeping trades passed London hours.
  • #14,040
  • Dec 8, 2011 12:13pm Dec 8, 2011 12:13pm
Quoting stevebalmmer
you mean the higher low at the blue candle?

Hi Steve,

no i mean higher low of red candle. eg. blue box on chart (bottom of post). i scale out of the trade once candles do this, as signs of reversal.

please correct me if im wrong (still learning). im pretty sure the term was higher low.

mark
Attached Image (click to enlarge)
Click to Enlarge Name: candles.gif Size: 21 KB
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