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Trading Made Simple for Day Charts

  • #301
  • Jan 8, 2012 11:03am Jan 8, 2012 11:03am
I have had a major computer crash and am working on a different system so unable to look at my MT4 charts right now - this also means no trading or updates on my eur/nzd trade

I am adding everything on to two other computers so when I am back up and running on MT4 I'll let you know
"To live with Passion, it takes Courage and Grace to survive"
  • #302
  • Jan 8, 2012 11:08am Jan 8, 2012 11:08am
Quoting leonaforex
I thought I would post something I learned from a seasoned trader long ago regarding money management -- it has held me in good standing, and stopped the blow out of my account MANY a time ...
Hi Leona

I like it! I have always just used a straight 2.5% and will adopt your approach from now on. Thank you.
  • #303
  • Jan 8, 2012 11:11am Jan 8, 2012 11:11am
For my trades, I trade 3% of my account at any time, until 3 trades in a row are winners.
I then increase to 4.5% of my account.
One loss reverts to 3%.
Two losses reverts to 1.5%.
Three or more go to 1% of account and stay there until you figure out what you were missing.
Once you have achieved 2 wins in row again, go to 3% of your account.

Hope this helps
Leona[/quote]

Very nicely explained - quite similar to my approach - worth adding as a concept to post # 1
"To live with Passion, it takes Courage and Grace to survive"
  • #304
  • Jan 8, 2012 11:30am Jan 8, 2012 11:30am
Thanks Willif, Piprac and Britpip7.

I have noticed my HA candles look a little different than posts I see here. Is this caused by the broker? I have the original Synergy_APB from "Trading Made Simple" forum.

Quoting willf
The ATR is displayed as just a number in the top left of the screen. It's called ATR Pips. File attached.
  • #305
  • Edited 2:37pm Jan 8, 2012 12:31pm | Edited 2:37pm
As a brief overview - Heikin Ashi were created to average out the candlesticks so that the response time was slowed down and reduced false signals. The Synergy APB were deleveped to increase the responsiveness of HA for forex markets.

http://www.forexfactory.com/attachme...1&d=1325743772

As far as the mathematics behind the algorithms:

Courtesy of Xaphod:

The bar close value is calculated differently:

Heikin Ashi:

Code:
haClose=(Open[pos]+High[pos]+Low[pos]+Close[pos])/4;
Average price bars

Code:
haClose = (Open[i] + High[i] + Low[i] + Close[i]) / 4.0; haClose = (haClose + Close[i]) / 2.0;
"To live with Passion, it takes Courage and Grace to survive"
  • #306
  • Jan 8, 2012 1:08pm Jan 8, 2012 1:08pm
Hi everyone and grats for this thread,
Is anyone here trading the daily TMS method using the classic indis/template proposed by BIG E in TMS thread?

Heiken Ashi + yellow MA

TDI (red,green)

Stoch 8,3,3

Cheers S
  • #307
  • Jan 8, 2012 1:12pm Jan 8, 2012 1:12pm
Quoting sarmatius
Hi everyone and grats for this thread,
Is anyone here trading the daily TMS method using the classic indis/template proposed by BIG E in TMS thread?

Heiken Ashi + yellow MA

TDI (red,green)

Stoch 8,3,3

Cheers S
TDI is being used along with a combination of candlesticks / APB / HA depending on individual preference
5EMA is in place
Stochs were never used much by Big E so most of us have dropped them.

Refer to post #1
"To live with Passion, it takes Courage and Grace to survive"
  • #308
  • Jan 8, 2012 1:15pm Jan 8, 2012 1:15pm
Quoting Britpip7
TDI is being used along with a combination of candlesticks / APB / HA depending on individual preference
5EMA is in place
Stochs were never used much by Big E so most of us have dropped them.

Refer to post #1
Thanks Brit for your fast answer!
  • #309
  • Jan 8, 2012 1:49pm Jan 8, 2012 1:49pm
Hello there,
On this pair i analyzed the two TMS charts we have until now, one from britpip7 and one from wilf. With HA bars the last candle clearly closed below 5EMA but with clasic candles, not. Any ideas? I also like more the clasic candles for PA.
  • #310
  • Jan 8, 2012 1:53pm Jan 8, 2012 1:53pm
Quoting fxjourney
Hi Leona

I like it! I have always just used a straight 2.5% and will adopt your approach from now on. Thank you.
Your welcome, it has served me well
  • #311
  • Jan 8, 2012 2:21pm Jan 8, 2012 2:21pm
Quoting sarmatius
Hi everyone and grats for this thread,
Is anyone here trading the daily TMS method using the classic indis/template proposed by BIG E in TMS thread?

Heiken Ashi + yellow MA

TDI (red,green)

Stoch 8,3,3

Cheers S
I'm set up the same as Big E. No extra indicators. I have the Stoch on but I don't pay much attention to it.
If you want to pick up a lot of pips..... Hedge my trades!
  • #312
  • Jan 8, 2012 2:30pm Jan 8, 2012 2:30pm
Quoting taylor4law
I'm set up the same as Big E. No extra indicators. I have the Stoch on but I don't pay much attention to it.
Stick with what works for you and backtest the rest before using it.
"To live with Passion, it takes Courage and Grace to survive"
  • #313
  • Jan 8, 2012 3:44pm Jan 8, 2012 3:44pm
I'm sorry but what's the meaning of using candle reversal patterns with regular candlesticks if we are using heiken ashi bars so called synergy bars?
My point is that if we have different settings when forming a candle we should study different patterns.
Tell me I'm wrong please.

Thanks for sharing your method BTW

Regards
let's skype: @elchinoazul
  • #314
  • Jan 8, 2012 4:15pm Jan 8, 2012 4:15pm
Quoting willf
Well I have lots of crosses on my platform :

AUDPY AUDNZD AUDUSD
GBPJPY GBPUSD NZDJPY
NZDUSD USDCAD USDJPY
AUDJPY - No trade on this one. Stuck in a tight range and the previous two crosses were losers.

AUDNZD - Same story again but with flat price action and flat EMA and resistance at 1.3050

AUDUSD - Initially I thought this looked quite good but now looking not so sure. Looks like a pull back to a trend line. If the candle was bigger and closed the other side of the EMA I would have had a go.

GBPJPY - Technically this is a cross of the TDI but the previous long never went anywhere so I am going to call this more of a bounce trade. Price has pushed passed the resistance at 119.25 area, good size candle, right side of the EMA and with the trend.

GBPUSD - Good TDI cross but price has reached this area three times before and failed. Trading in quite a large range but not enough to be traded on a daily time frame in my opinion.

NZDJPY - Looks like exactly like the AUDJPY cross so no trade for same reasons.

NZDUSD - Funnily enough looks like the same setup as AUDUSD. Possible pullback to a trendline so trade skipped for same reasons.

USDCAD - Looks good. Good size candle, broke past the EMA. Need to watch for resistance at 1.0400.

USDJPY - If you look at this with HA candles it looks like a really good move. But with standard candles it's obvious that the candle giving the signal is bearish and it's closed the wrong side of the EMA.

So out of 9 crosses there are what I consider 2 good setups. AUD and NZD crosses seem to be consolidating somewhat. Maybe we will seem some bigger moves in the week from these.

I will update the SL & TP for GBPJPY & USDCAD later when the market opens.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: audjpy.jpg Size: 106 KB
Click to Enlarge Name: audnzd.jpg Size: 99 KB
Click to Enlarge Name: audusd.jpg Size: 111 KB
Click to Enlarge Name: gbpjpy.jpg Size: 103 KB
Click to Enlarge Name: gbpusd.jpg Size: 112 KB
Click to Enlarge Name: nzdjpy.jpg Size: 105 KB
Click to Enlarge Name: nzdusd.jpg Size: 111 KB
  • #315
  • Jan 8, 2012 4:16pm Jan 8, 2012 4:16pm
Couldn't fit all the attachments to last post
Attached Image(s) (click to enlarge)
Click to Enlarge Name: usdcad.jpg Size: 113 KB
Click to Enlarge Name: usdjpy.jpg Size: 107 KB
  • #316
  • Jan 8, 2012 5:12pm Jan 8, 2012 5:12pm
Mentioned by several others as a trade with potential.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPY short.PNG Size: 82 KB
Financial independence is what I live for
  • #317
  • Edited 5:24pm Jan 8, 2012 5:14pm | Edited 5:24pm
Quoting willf
Took a few trades last night, first of 2012

CHFJPY 80.94 TP1=80.24
EURJPY 98.63 TP1=97.87
EURUSD 1.2787 TP1=1.2672

Once they reach the first TP I will move them to break even and see how it goes.
Update on these trades.

CHFJPY First TP hit for +70 pips. Trade moved to break even.
EURJPY First TP hit for +113 pips. Trade moved to break even.
EURUSD First TP hit for +115 pips. Trade moved to break even.
  • #318
  • Jan 8, 2012 5:43pm Jan 8, 2012 5:43pm
GBPJPY 118.37 TP1=117.53
USDCAD 1.0294 TP1=1.0375

Quite a few gaps on my platform on opening. But these worked out well for my other trades.
  • #319
  • Jan 8, 2012 7:17pm Jan 8, 2012 7:17pm
Quoting piprac
You can drag the ATR from the indicator list into the TDI window and then select the Color as None. Select the # of periods you like and then OK, the ATR # will appear at the end of the TDI info line in the upper R. hand corner of that window.

Nice tip my ATR label keeps getting covered by other stuff.
Thanks
Let it turn and find your entry.
  • #320
  • Jan 8, 2012 8:00pm Jan 8, 2012 8:00pm
Try using the stochastic at 10,2,5 on the daily
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