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Trading Made Simple for Day Charts

  • #461
  • Jan 12, 2012 8:52pm Jan 12, 2012 8:52pm
But you know, how the "Fractal"-indicator is calculated? It is useful for looking at possible S/R-Points, but I doubt that you can use it for entry/exit-signals, because it is lagging (in realtime) 2 bars from the top/bottom...
  • #462
  • Jan 12, 2012 10:33pm Jan 12, 2012 10:33pm
Quoting Strategy_xy
But you know, how the "Fractal"-indicator is calculated? It is useful for looking at possible S/R-Points, but I doubt that you can use it for entry/exit-signals, because it is lagging (in realtime) 2 bars from the top/bottom...

Fractals are a lagging indicator and will repaint until they are set per the rule set / definition.

A fractal must have two preceding and two following bars with lower highs (higher lows, on a down move). Which means that a fractal will always be at least 3 candles old. I have been using it along with PA as an entry trigger point for some time and with the patterns that I show in the posts of trades and the training chart, they work very well.

They indicate S/R points and this is the key issue and why they can be used for entry points. Check out the charts posted to date on this thread.
"To live with Passion, it takes Courage and Grace to survive"
  • #463
  • Jan 13, 2012 1:10pm Jan 13, 2012 1:10pm
Finally the eur/nzd trade closed out on the manually adjusted SL.
TP1 = 290 pips
TP2 = 720pips.

eur/jpy short triggered off of the Fractal Low break
SL / TP1 = 2XATR(7) which was 80, s0 2X80 = 160 pips
TP2 currently not set - looking to take advantage of clear water heading south

gbp/usd short triggered off of a break of the 1.5300 level
SL / TP1 = 2XATR(7) which was 115, so 2X15 = 230 pips
TP2 = 460pips
"To live with Passion, it takes Courage and Grace to survive"
  • #464
  • Jan 13, 2012 2:10pm Jan 13, 2012 2:10pm
Absolutely amazing results, good work and thanks for posting remarks regarding your strategy and trading ideas.
  • #465
  • Jan 14, 2012 1:13am Jan 14, 2012 1:13am
Quoting Britpip7
Finally the eur/nzd trade closed out on the manually adjusted SL.
TP1 = 290 pips
TP2 = 720pips.

eur/jpy short triggered off of the Fractal Low break
SL / TP1 = 2XATR(7) which was 80, s0 2X80 = 160 pips
TP2 currently not set - looking to take advantage of clear water heading south

gbp/usd short triggered off of a break of the 1.5300 level
SL / TP1 = 2XATR(7) which was 115, so 2X15 = 230 pips
TP2 = 460pips
But EURJPY TDI crossing up? And same condition on EU so why you don't enter EU short trade?
  • #466
  • Jan 14, 2012 2:00am Jan 14, 2012 2:00am
Quoting Britpip7
Finally the eur/nzd trade closed out on the manually adjusted SL.
TP1 = 290 pips
TP2 = 720pips....
Excellent result Britpip7 - well done!
  • #467
  • Jan 14, 2012 9:30am Jan 14, 2012 9:30am
And so, my results for the past week?

I entered AU/US, stopped out for loss; US/CA entered, went against my plan and moved my SL, and, of course ---------stopped out for loss and entered GBP/JPY short, and LEFT IT ALONE for closure at TP1, profit.
Ended the week at break even, after a nice quick trade Friday London session on EU/US using a different strategy.

Lesson reinforced? Don't muck with your trade once its set. (Patience is a virtue that I MUST work on)

Cheers
Leona

Quoting leonaforex
Hi peeps,
Am looking at possible trades for next week. Based on my interpretation of Post #1 update, I see USD/CAD long; AUD/NZD short; AUD/USD short; AUD/JPY short (pending); USD/CHF long; and GBP/JPY short.

Time will tell, of course.
Have a good 'un, eh
Leona
  • #468
  • Jan 14, 2012 10:30am Jan 14, 2012 10:30am
Quoting leonaforex
....
Lesson reinforced? Don't muck with your trade once its set. (Patience is a virtue that I MUST work on)....
Hi Leona

Next week will bring new opportunities and it's always a bonus that your lesson did not cost you any capital at the end of the week.

All the best for the week ahead - plan your trades, execute your plan and sit on your hands to stop them from reaching for the mouse...
  • #469
  • Edited 11:37am Jan 14, 2012 11:08am | Edited 11:37am
Quoting kijkij
But EURJPY TDI crossing up? And same condition on EU so why you don't enter EU short trade?
Both eu and ej are shown - currently these are twins. I think your question is why don't I enter long and not "EU short trade?"

Trends for both are currently down on all MAs - so longer time frames support the day and unless this shows a really strong reversal on the Day, I will only take shorts.

PA - last candle strong down move and an engulfing bear candle and also continuing the trend move

RSI still well below 50

No real signs for a long, despite the TDI showing a cross. Not all TDI crosses are taken, especially when the current / last candle is opposite to the TDI signal.

My one note of caution on these pairs is that they are very reliant on euro zone news and have reached a resting point at the current level. As my ej trade has triggered I will run with this for the next few candles and review the PA before considering making any changes - of course, we may see news over the weekend that moves these pairs!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu 1-14-2012.gif Size: 28 KB
Click to Enlarge Name: ej 1-14-2012.gif Size: 28 KB
"To live with Passion, it takes Courage and Grace to survive"
  • #470
  • Jan 14, 2012 11:11am Jan 14, 2012 11:11am
Quoting leonaforex
And so, my results for the past week?

I entered AU/US, stopped out for loss; US/CA entered, went against my plan and moved my SL, and, of course ---------stopped out for loss and entered GBP/JPY short, and LEFT IT ALONE for closure at TP1, profit.
Ended the week at break even, after a nice quick trade Friday London session on EU/US using a different strategy.

Lesson reinforced? Don't muck with your trade once its set. (Patience is a virtue that I MUST work on)

Cheers
Leona
Could be worse!

That patience thing is a real pain to master and I feel your pain - I have trades sit for 5 days before moving.
"To live with Passion, it takes Courage and Grace to survive"
  • #471
  • Jan 14, 2012 12:44pm Jan 14, 2012 12:44pm
Hi everyone

Just wanted to add my pennyworth. I noticed that some of you guys are entering trades at extreme levels of trend swings. What I'm getting at is that even in a down trend, of course, price action swings up (and vice versa). So it's really not a good idea to buy when price action is just about to swing down or sell when price action is just about to swing up. Your system doesn't seem to avoid this rather serious problem.
There's a very easy way to avoid making this mistake and that's to only buy/sell around the swing axis. It's another system completely but my demo account's gone from $600 to $7000 in 6 weeks using it, so I kinda think this very simple system works. I'll elaborate if anyone's interested.

Rgds

Jerry
  • #472
  • Jan 14, 2012 1:06pm Jan 14, 2012 1:06pm
Quoting jmtini
Hi everyone

Just wanted to add my pennyworth. I noticed that some of you guys are entering trades at extreme levels of trend swings. What I'm getting at is that even in a down trend, of course, price action swings up (and vice versa). So it's really not a good idea to buy when price action is just about to swing down or sell when price action is just about to swing up. Your system doesn't seem to avoid this rather serious problem.
There's a very easy way to avoid making this mistake and that's to only buy/sell around the swing axis. It's another...
You can certainly elaborate for me Sir
  • #473
  • Jan 14, 2012 1:24pm Jan 14, 2012 1:24pm
You've got my interest Jerry, might be worth starting a new thread though.
  • #474
  • Jan 14, 2012 1:27pm Jan 14, 2012 1:27pm
Quoting Tedge UK
You can certainly elaborate for me Sir
Just PM me and I'll give you the details. You can evaluate it. Don't want to end up debating my system on another system's thread!

rgds
  • #475
  • Jan 14, 2012 2:02pm Jan 14, 2012 2:02pm
Quoting jmtini
Just PM me and I'll give you the details. You can evaluate it. Don't want to end up debating my system on another system's thread!

rgds
i have done J,Thank you
  • #476
  • Jan 14, 2012 3:32pm Jan 14, 2012 3:32pm
Quoting Britpip7
Both eu and ej are shown - currently these are twins. I think your question is why don't I enter long and not "EU short trade?"

Trends for both are currently down on all MAs - so longer time frames support the day and unless this shows a really strong reversal on the Day, I will only take shorts.

PA - last candle strong down move and an engulfing bear candle and also continuing the trend move

RSI still well below 50

No real signs for a long, despite the TDI showing a cross. Not all TDI crosses are taken, especially when the current...
hello Britpip7,

can you pls share you TMS Histo 3TF Indicator along with your template.

Thanks
No Risk No Reward
  • #477
  • Jan 15, 2012 12:16am Jan 15, 2012 12:16am
Quoting jmtini
Just PM me and I'll give you the details. You can evaluate it. Don't want to end up debating my system on another system's thread!

rgds
Why should we send you a mail..guess you are trying to sell something here...wont be surprised if its a robot...If you really want to help as you claim, why dont you open a new thread or explain here....besides TMS has been proven and tested to be a great system.....
  • #478
  • Jan 15, 2012 12:35am Jan 15, 2012 12:35am
Guys i dont think its advisable to open a trade at the open of the new trading week no matter how good the setup may be because there are so many irregularities during the weekends...il rather wait for the next 4hr candle...what do you think?
  • #479
  • Jan 15, 2012 1:49am Jan 15, 2012 1:49am
Ok so i kept hearing brit pip talking about fractals but it seemed kinda confusing.So i went and looked at his charts and after a few minutes i totally understand now.This is actually something i was thinking about but didnt know it was an actual indicator for.Cool
  • #480
  • Jan 15, 2012 4:23am Jan 15, 2012 4:23am
Quoting angelo5uk
Why should we send you a mail..guess you are trying to sell something here...wont be surprised if its a robot...If you really want to help as you claim, why dont you open a new thread or explain here....besides TMS has been proven and tested to be a great system.....
I agree...Just want to join somebody's trading group by ''pls send me a pm'' You can bet it's not a free trading group. It is no problem for me but i believe that his place is in the commercial area.
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