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  • #4,481
  • Feb 14, 2012 5:30am Feb 14, 2012 5:30am
Quoting shaikjun
its too early to say as the TDI not crossed yet,and also high impact news ahead,its best to stay out at the moment
My hunch says that he will go down in the second candle after he reached 1.3152 and reach 1.3215 peak. Do not blame me try? Furthermore, I will monitor my trading as well as from time to time. Do not worry, do not you close many experts here, I can continue to get their advice and opinion, including you. Thank you.
  • #4,482
  • Feb 14, 2012 5:50am Feb 14, 2012 5:50am
Close 50% at +30, near white resistance line.

Moved SL from BE to +15.
  • #4,483
  • Feb 14, 2012 6:11am Feb 14, 2012 6:11am
Quoting dcginc
I am not picking a fight here, just offering an opinion based on experience.

A word of caution . . I have used these type of strength monitors/meters before, hoping they would add some kind of confirmation and confidence.

For me they were just one more thing that really added no value to my trading system and trade plan. In fact, they were more of a distraction - especially when the information was in conflict with my trading plan.

There is nothing these types of strength meters can provide that you can not get by looking at your higher...
Actually I agree with what you have said.
I tried some time ago to trade this way, but it didnt really work "as advertised".

Its just something that caught my eye, again, in the last days and thought I'd share it.
Thoughts are things
  • #4,484
  • Feb 14, 2012 6:13am Feb 14, 2012 6:13am
Seeing weakness at 1.3154 so closing remaining 50% at +30 also.
Attached Image
  • #4,485
  • Feb 14, 2012 6:22am Feb 14, 2012 6:22am
Closed my short trade for a nice 35pips.

A lovely trading day , 70 pips for the day not bad at all
This is the life guys.
X-man the legendary conqueror of markets
  • #4,486
  • Feb 14, 2012 6:27am Feb 14, 2012 6:27am
X-man what made you enter short? I didnt see a tdi cross. Was it a bounce from the 200 ema?
  • #4,487
  • Feb 14, 2012 6:34am Feb 14, 2012 6:34am
Quoting hale-mary
X-man what made you enter short? I didnt see a tdi cross. Was it a bounce from the 200 ema?
Yes it was bounce off daily pivot as i mentioned this morning and bounce off the 200EMA as well. The bounce was actually off the 1.3200 but all was there to confirm the short and i went for it.
That was a good easy set up.
X-man the legendary conqueror of markets
  • #4,488
  • Feb 14, 2012 6:38am Feb 14, 2012 6:38am
Quoting alastair
well said!
Keeping my short.
finally closed for some green pips!
Keep It Simple Stupid
  • #4,489
  • Feb 14, 2012 6:43am Feb 14, 2012 6:43am
Quoting X-Man
Yes it was bounce off daily pivot as i mentioned this morning and bounce off the 200EMA as well. The bounce was actually off the 1.3200 but all was there to confirm the short and i went for it.
That was a good easy set up.
hmmm. Something's wrong. I am running the simulation and I just dont see the open of the second red candle have TDI cross until the full candle forms. It only touches. what other confirmation did you have besides the daily pivot and 200 ema. I can clearly see that on my chart.

Reason I ask is that the TDI looks exactly like it did when I went short yesterday after the pullback candle. It just touched, but i mistook it for crossing
  • #4,490
  • Feb 14, 2012 6:56am Feb 14, 2012 6:56am
Looking at EURUSD now at near close and next open GMT1500.The current candel is Green and APB may not have a lower close. H4 TDI cross upH1 TDI no clear sign of cross up.Question: Will you long at the close of this candle?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #4,491
  • Feb 14, 2012 7:05am Feb 14, 2012 7:05am
Quoting emmanuel7788
Looking at EURUSD now at near close and next open GMT1500.The current candel is Green and APB may not have a lower close. H4 TDI cross upH1 TDI no clear sign of cross up.Question: Will you long at the close of this candle?
As of now both my tdi's show a down cross, but its too messy right now to decide long or short in my opinion
  • #4,492
  • Feb 14, 2012 7:05am Feb 14, 2012 7:05am
Quoting hale-mary
hmmm. Something's wrong. I am running the simulation and I just dont see the open of the second red candle have TDI cross until the full candle forms. It only touches. what other confirmation did you have besides the daily pivot and 200 ema. I can clearly see that on my chart.

Reason I ask is that the TDI looks exactly like it did when I went short yesterday after the pullback candle. It just touched, but i mistook it for crossing
Yip TDI was touching the time i entered. I anticipated the bounce from this morning as well.
How many more conformations would you want to take a trade?
have you watched the video on the pro trader network about indicator overload etc? Dcginc talks about traders waiting for so many signals before they enter. All i need is a few signals maybe 1 or just 2 and that will be fine for me.
X-man the legendary conqueror of markets
  • #4,493
  • Feb 14, 2012 7:11am Feb 14, 2012 7:11am
Quoting X-Man
Yip TDI was touching the time i entered. I anticipated the bounce from this morning as well.
How many more conformations would you want to take a trade?
have you watched the video on the pro trader network about indicator overload etc? Dcginc talks about traders waiting for so many signals before they enter. All i need is a few signals maybe 1 or just 2 and that will be fine for me.
Ah okay...I am not at that comfort stage yet as TDI is my final confirmation. I did not want to jump in too fast and get screwed. Yes I saw the videos. Those are good. There are trades I see you take that I am tempted to take. But I hold off because way too many times...it has bitten me in the rear. But those trades seem to work for you...lol
  • #4,494
  • Feb 14, 2012 7:14am Feb 14, 2012 7:14am
Quoting hale-mary
hmmm. Something's wrong. I am running the simulation and I just dont see the open of the second red candle have TDI cross until the full candle forms. It only touches. what other confirmation did you have besides the daily pivot and 200 ema. I can clearly see that on my chart.

Reason I ask is that the TDI looks exactly like it did when I went short yesterday after the pullback candle. It just touched, but i mistook it for crossing

some good PA setup do not have TDI cross support.
Attached Image (click to enlarge)
Click to Enlarge Name: Examplel of PA at S&R levels .png Size: 46 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #4,495
  • Feb 14, 2012 7:19am Feb 14, 2012 7:19am
Quoting hale-mary
Ah okay...I am not at that comfort stage yet as TDI is my final confirmation. I did not want to jump in too fast and get screwed. Yes I saw the videos. Those are good. There are trades I see you take that I am tempted to take. But I hold off because way too many times...it has bitten me in the rear. But those trades seem to work for you...lol
You have to be witty as a trader , must be able to think fast and act precise at the same time taking full responsibility for your actions and accepting the outcome.

The day you have all of this you will be able to be 1 step ahead from the rest. This is Key

In the market you must be the leader and not the driftwood.

Take command of your ship and steer the market waters. dont let the market steer you as it will take you to rocky shores.
Have a positive feeling for every trade that you take.
X-man the legendary conqueror of markets
  • #4,496
  • Feb 14, 2012 7:53am Feb 14, 2012 7:53am
Quezoy
Quote
Actually I agree with what you have said.
I tried some time ago to trade this way, but it didnt really work "as advertised".

Its just something that caught my eye, again, in the last days and thought I'd share it.

No worries. My experience is that if something doesn't add any value, I get rid of it. That's what I learned about these types of strength meters - as least for me.

dcginc.
  • #4,497
  • Feb 14, 2012 8:17am Feb 14, 2012 8:17am
took two trades today.

first one I entered on the open of the candle where the boxed red arrow is and profit target was the 50% fib. It hit it nicely.

Next one I took but quickly exited because I was not sure...no loss but need clarification.

On the second boxed red arrow I entered at the white line when price broke the prior two candles low. My question is when is this tactic correct and incorrect. I see phx62 do it alot when there is a trend and sometimes in a ranging market. I dont want to blindly enter these types of trades.
Attached Image (click to enlarge)
Click to Enlarge Name: eu.jpg Size: 122 KB
  • #4,498
  • Feb 14, 2012 8:24am Feb 14, 2012 8:24am
Quoting emmanuel7788
some good PA setup do not have TDI cross support.
Whenever pa moves quickly the turn when it happens may take longer for indi to cross than pa to show, thats the nature of the beast and the reason why many people are anti indicators.

However if you are happy with a trend (and there are hoardes of threads I've read including my own) that already have given their down bias on eur and gu. having said that if you have D pa as we have, a solid 1hr lower high, candles with upper wick then neg close then you shouldn't be waiting for an indi to cross. IMHO.
  • #4,499
  • Feb 14, 2012 8:36am Feb 14, 2012 8:36am
Quoting hale-mary
took two trades today.

first one I entered on the open of the candle where the boxed red arrow is and profit target was the 50% fib. It hit it nicely.

Next one I took but quickly exited because I was not sure...no loss but need clarification.

On the second boxed red arrow I entered at the white line when price broke the prior two candles low. My question is when is this tactic correct and incorrect. I see phx62 do it alot when there is a trend and sometimes in a ranging market. I dont want to blindly enter these types of trades.

Hale mary

I totally do not agree with your second trade entry.
why are you entering on the 4th red candle?
The ONLY time that would be acceptable will be a bounce trade on the TDI , other then that to enter so late is not acceptable.

Since we in a downtrend( we can see the lower highs ) you might make some pips but your entry is nit good at all.

I remember that phx62 told you this few weeks ago if im not mistaken and it seems like you still didnt learn that lesson.
When a lesson is learnt then note it down so we dont make that mistakes twice
X-man the legendary conqueror of markets
  • #4,500
  • Edited 9:23am Feb 14, 2012 8:48am | Edited 9:23am
I am trying to get a hang of the support resistance entry break. (I knew it was the fourth candle but I was not focused on that) Sometimes there can be 8 candles and price breaks. I am going back to see where I went wrong with this type of trade.

For example(chart below), if this were the london session I am sure he would have entered on the break. And I think in your pdf you have a picture of that
Attached Image (click to enlarge)
Click to Enlarge Name: eu.jpg Size: 123 KB
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