Trading Made Simple for Day Charts | Page 10 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Trading Made Simple 151,881 replies

Trading Made Simple the right way, and other trading lessons 334 replies

Indicators for the 'Trading Made Simple' system 343 replies

Charts, Charts, Charts! 1 reply

Trading Made Simple Charts Journal 2 replies

Attachments: Trading Made Simple for Day Charts
Exit Attachments

Trading Made Simple for Day Charts

  • #181
  • Jan 4, 2012 7:47am Jan 4, 2012 7:47am
Quoting X-Man
EMAs can be played around with there is no set rules for emas.
Its just that you have to choose something that you as a trader is comfortable with.
Play around with the settings and then you will get a feel to it then you can tweek it to get the ema tight or loose.
Thanks, that's the answer i was looking for, "there is no set rules for emas", it is more or less trial and error, the fog has been cleared.

Good Luck
  • #182
  • Jan 4, 2012 9:26am Jan 4, 2012 9:26am
did anyone else see a good buy signal on EURUSD yesterday - so far it's not working out very well - any way that could have been avoided?

thanks!
  • #183
  • Jan 4, 2012 9:32am Jan 4, 2012 9:32am
Quoting nemke
did anyone else see a good buy signal on EURUSD yesterday - so far it's not working out very well - any way that could have been avoided?

thanks!
The way to avoid such a trade imo is to go with the trend,the trend is south and you were north.Hope this helps Tedge
  • #184
  • Jan 4, 2012 9:33am Jan 4, 2012 9:33am
Quoting nemke
did anyone else see a good buy signal on EURUSD yesterday - so far it's not working out very well - any way that could have been avoided?

thanks!
...going long is against the trend.

I've taken similar bad trades yesterday on GBP/USD (long), EURHKD (long) and USDSGD (short).
All three trades were against the trend in hindsight.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD long against the trend.PNG Size: 43 KB
Financial independence is what I live for
  • #185
  • Jan 4, 2012 9:42am Jan 4, 2012 9:42am
Quoting nemke
did anyone else see a good buy signal on EURUSD yesterday - so far it's not working out very well - any way that could have been avoided?

thanks!
Seen it but didn't look good to me.

1. Against strong trend.
2. Preceding HA candles were quite small.
3. Price had already stalled at previous resistance.
4. Trading right into a big round number 1.3100
  • #186
  • Jan 4, 2012 10:00am Jan 4, 2012 10:00am
Quoting nemke
did anyone else see a good buy signal on EURUSD yesterday - so far it's not working out very well - any way that could have been avoided?

thanks!


Quoting Britpip7
Just be aware that we are still in a major down trend - look at previous bull candles and TDI signals on eu and then decide where you want your SL and TP.

Essentially the signal is good, however week and month may still drive this lower - enter with caution! For my set-ups this does not yet qualify for a high probability entry.

Britpip spoke about it on Post 154, and is basically the same thing willf above said
Always Learning
  • #187
  • Jan 4, 2012 10:43am Jan 4, 2012 10:43am
Quoting effluvium
Could anyone here give a brief explanation about all these fractals which are on Top or bottom of some candles ? How could we use them to decide about the trade ? Are there necessary ? Thanks
Here is a link for the TMS thread where I was explaining this in more detail together with additional posts.

http://www.forexfactory.com/showthre...47#post4927047

I am planning on adding something similar into Post #1

Back test with fractals on to review entry patterns and then backtest with them removed to see if you pick the same entry points
"To live with Passion, it takes Courage and Grace to survive"
  • #188
  • Jan 4, 2012 10:53am Jan 4, 2012 10:53am
Quoting nemke
did anyone else see a good buy signal on EURUSD yesterday - so far it's not working out very well - any way that could have been avoided?

thanks!
I have posted this elsewhere but the COT data shows big boys were adding to their shorts so not quite the time yet to buy on D.

Also when there is a turn I'd prefer to see some form of D candle formation such as a dble bottom/higher low.
  • #189
  • Jan 4, 2012 3:01pm Jan 4, 2012 3:01pm
since this is an extension of the TMS method. Britpips, I was wondering if you could inform whether eelfranz, when he does his exits waits for the candle close on the tdi flast, hook, and check mark signalr or does he get out at the live candle as the TDI is forming.
generally speaking. I am trying to fix my exits.

Thanks.
  • #190
  • Jan 4, 2012 3:18pm Jan 4, 2012 3:18pm
Quoting hale-mary
since this is an extension of the TMS method. Britpips, I was wondering if you could inform whether eelfranz, when he does his exits waits for the candle close on the tdi flast, hook, and check mark signalr or does he get out at the live candle as the TDI is forming.
generally speaking. I am trying to fix my exits.

Thanks.
I believe Eelfranz used to exit as the TDI was forming. I always felt this left a lot of pips on the table as the TDI could swing one way then move back in the right direction.
  • #191
  • Jan 4, 2012 4:13pm Jan 4, 2012 4:13pm
Quoting hale-mary
since this is an extension of the TMS method. Britpips, I was wondering if you could inform whether eelfranz, when he does his exits waits for the candle close on the tdi flast, hook, and check mark signalr or does he get out at the live candle as the TDI is forming.
generally speaking. I am trying to fix my exits.

Thanks.
Much depends on your trading style/plan.

Big E would exit as the trade pulled back and re-enter if it resumed the direction.
dcginc would set hard TP levels.
Dean Malone uses the 5SMA band to exit.
Many folks use the TDI flattening or reversing / hooking as an exit signal.
Some folks have used the 5EMA as an exit indicator where they will close if a candle closes above / below it.

I combine the hard TP levels with a TS and/or a manual exit strategy based on reversal patterns. Currently I am managing a trade with no TP set but by moving the SL every day - see my recent posts - I am also posting daily updates on any trades that I have open.

Hope this is not too confusing, but this has to be be a personal preference based on your risk tolerance. How many pips are you willing to give back to the market?
"To live with Passion, it takes Courage and Grace to survive"
  • #192
  • Jan 4, 2012 4:16pm Jan 4, 2012 4:16pm
thanks for your answers ealier on the EURUSD false signal - trend is your friend - lesson learned.

I am no looking at GBPCHF long entry, has the TDI cross, and long standing up trend - valid entry?

thanks
  • #193
  • Jan 4, 2012 4:25pm Jan 4, 2012 4:25pm
Quoting nemke
thanks for your answers ealier on the EURUSD false signal - trend is your friend - lesson learned.

I am no looking at GBPCHF long entry, has the TDI cross, and long standing up trend - valid entry?

thanks
On my platform the cross is showing as the third HA candle in a row so It's invalid. Preceding candles are also pretty small with lack of price action.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpchf.png Size: 133 KB
  • #194
  • Edited 4:51pm Jan 4, 2012 4:31pm | Edited 4:51pm
Quoting Vantage
I have posted this elsewhere but the COT data shows big boys were adding to their shorts so not quite the time yet to buy on D.

Also when there is a turn I'd prefer to see some form of D candle formation such as a dble bottom/higher low.
Thanks for the heads up.

This is worth being aware of - I have subscribed to the email feed.

http://www.dailymarkets.com/commitment-of-traders/

with regards to the eu - here's another perspective on trends by adding some EMAs - 31 / 61 / 92 / 200 - no long signals, even though TDI was screaming for a long entry! Not all TDI crosses are created equal!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu 1-4-2012 - Trends.gif Size: 17 KB
Click to Enlarge Name: eu 1-4-2012 - TDI.gif Size: 13 KB
"To live with Passion, it takes Courage and Grace to survive"
  • #195
  • Jan 4, 2012 4:39pm Jan 4, 2012 4:39pm
Quoting nemke
thanks for your answers ealier on the EURUSD false signal - trend is your friend - lesson learned.

I am no looking at GBPCHF long entry, has the TDI cross, and long standing up trend - valid entry?

thanks
See attachment.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPCHF long.PNG Size: 48 KB
Financial independence is what I live for
  • #196
  • Jan 4, 2012 4:44pm Jan 4, 2012 4:44pm
Quoting smatthew
See attachment.
Quoting eelfranz
We Enter a trade when green crosses red on the TDI at the beginning of that candle... If it's candle 3 or more don't enter...
?
  • #197
  • Jan 4, 2012 4:46pm Jan 4, 2012 4:46pm
Quoting willf
?
... I've chosen to ignore the first two blue candles since they were flat.
Financial independence is what I live for
  • #198
  • Jan 4, 2012 4:52pm Jan 4, 2012 4:52pm
Quoting willf
On my platform the cross is showing as the third HA candle in a row so It's invalid. Preceding candles are also pretty small with lack of price action.

Can you elaborate about the 3rd HA candle, on which would you enter?

cheers
  • #199
  • Jan 4, 2012 4:56pm Jan 4, 2012 4:56pm
Quoting nemke
Can you elaborate about the rd HA candle, on which would you enter?

cheers
After the TDI has crossed you should check the HA candles have change colour accordingly and enter on the first or second candle. Please see the original TMS thread http://www.forexfactory.com/showthread.php?t=291622
  • #200
  • Jan 4, 2012 5:03pm Jan 4, 2012 5:03pm
Quoting nemke
thanks for your answers ealier on the EURUSD false signal - trend is your friend - lesson learned.

I am no looking at GBPCHF long entry, has the TDI cross, and long standing up trend - valid entry?

thanks
You may also want to watch the resistance on this trade whether trading APB's or Candles with fractals you have no headroom on this trade. You will be banging into resistance within 25 to 50 pips up.
Always Learning
0 traders viewing now