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Trading Made Simple for Day Charts

  • #721
  • Mar 6, 2012 4:26pm Mar 6, 2012 4:26pm
Quoting phi1ipp
How do you guys display the ATR in the UL corner on the main chart?

Added to Post #1 - sorry for hiding it in the attachments
"To live with Passion, it takes Courage and Grace to survive"
  • #722
  • Mar 6, 2012 4:28pm Mar 6, 2012 4:28pm
Quoting maxzeus
hey Erebus wheres the Pic for that ? .. LOL j/k

like your "How to Do" posts makes me

I learn something new with every instruction - great stuff
"To live with Passion, it takes Courage and Grace to survive"
  • #723
  • Mar 6, 2012 4:45pm Mar 6, 2012 4:45pm
Quoting phi1ipp
First of all I'd like to say many thanks to Britpip7! I find the strategy very interesting and suitable for me. I'm gonna test it a lil bit.

What are you guys thinking about this short setup? Is it the correct one as:
- TDI crossing
- Strong bearish candle after the bounce off the resistance
Attached Image (click to enlarge)
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As you can see on the 4H chart there seems to be some resistance around 80.56 to be completely satisfied with going short on this trade I think I would look a break of 80.50 and have the yellow cross blue before I see a clear confirmation of anything.
  • #724
  • Mar 6, 2012 4:54pm Mar 6, 2012 4:54pm
Quoting Britpip7
I learn something new with every instruction - great stuff
he should make a Board with all those instructions, so then we could all refer to it for those that have a hard time or needs guidance.

Don't forget Practice + Patience + Persistence = Profits
  • #725
  • Mar 6, 2012 10:25pm Mar 6, 2012 10:25pm
Looking at the APB Wicks and the RSI(10) values, this could stall and bounce back off of the 100EMA. TDI currently heading into oversold territory but that doesn't mean it can't continue down!

Current day candle looking to pull back.

I am experimenting with CCI at the moment following a recent Dean Malone video as well as info from another thread from fxcube - the second window on the candlestick chart is RSI(10) and CCI(14)
Attached Image(s) (click to enlarge)
Click to Enlarge Name: au 3-6-2012.gif Size: 25 KB
Click to Enlarge Name: au 3-6-2012 candles.gif Size: 23 KB
"To live with Passion, it takes Courage and Grace to survive"
  • #726
  • Mar 7, 2012 8:06am Mar 7, 2012 8:06am
During the last 24 hours all yen crosses are going through consolidation phase and probably will make or break in the next couple of hours as the wedge is squeezing every hour.

Let's see how it unfolds to get a better direction of the trend.
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPY 8HR.jpg Size: 204 KB
Forex is boring but profitable with patience and discipline
  • #727
  • Mar 7, 2012 8:57am Mar 7, 2012 8:57am
Not uncommon for Thusday during NFP week to be slow.

No positions open in the live account - and I do not trade NFP.

On the demo account I have pending trades set up on complementary pairs as a hedge position so short on eu and long on au.

I have had some success with this approach in consolidating markets - not ready to put this strategy into play on the live account.
"To live with Passion, it takes Courage and Grace to survive"
  • #728
  • Mar 7, 2012 8:59am Mar 7, 2012 8:59am
I'm sorry if the question was discussed earlier but ...

Do you Britpip open positions in the middle of a day or just after the candle is finished?

Thanks!
  • #729
  • Mar 7, 2012 9:09am Mar 7, 2012 9:09am
Everything was going good but now im getting crushed again. lol
  • #730
  • Mar 7, 2012 11:46am Mar 7, 2012 11:46am
Hi prftablefool
Please, please what are the indicators blue arrows.
Thanks
Micheale

Quoting prftablefool
During the last 24 hours all yen crosses are going through consolidation phase and probably will make or break in the next couple of hours as the wedge is squeezing every hour.

Let's see how it unfolds to get a better direction of the trend.
  • #731
  • Edited 1:06pm Mar 7, 2012 12:18pm | Edited 1:06pm
Quoting phi1ipp
I'm sorry if the question was discussed earlier but ...

Do you Britpip open positions in the middle of a day or just after the candle is finished?

Thanks!
Only after the close of a candle

My new day candle starts at 4pm PST - I may gaet a chance to review it between then and 4:45, if not, my first opportunity will be between 8pm and 10PM.

The majority of my trades are pending orders - buys stop or sell stop and the entry position will be determined by the candle close / colour / low / high and resulting PA on the new candle. TDI is always secondary to PA.

So far in 2012, my only pairs traded have been the 3 amigos / aud/jpy, eur/aud, eur/nzd, aud/chf
"To live with Passion, it takes Courage and Grace to survive"
  • #732
  • Mar 7, 2012 12:19pm Mar 7, 2012 12:19pm
Quoting kingclarence
Everything was going good but now im getting crushed again. lol
Hi - what's happening in your trading that's getting you crushed?
"To live with Passion, it takes Courage and Grace to survive"
  • #733
  • Mar 7, 2012 12:32pm Mar 7, 2012 12:32pm
Quoting mchlpetrikov
Hi prftablefool
Please, please what are the indicators blue arrows.
Thanks
Micheale
It is not an indicator. I placed arrows whenever I take a trade. It helps me to keep track of setups and pips.
Forex is boring but profitable with patience and discipline
  • #734
  • Mar 8, 2012 6:56am Mar 8, 2012 6:56am
Quoting Britpip7
Only after the close of a candle

My new day candle starts at 4pm PST - I may gaet a chance to review it between then and 4:45, if not, my first opportunity will be between 8pm and 10PM.

The majority of my trades are pending orders - buys stop or sell stop and the entry position will be determined by the candle close / colour / low / high and resulting PA on the new candle. TDI is always secondary to PA.

So far in 2012, my only pairs traded have been the 3 amigos / aud/jpy, eur/aud, eur/nzd, aud/chf
Hello Britpip,
I find your approach very interesting
Have you a history of number of trades that you did on these 7 pairs?
Can you confirm that the 3 amigos are: eur/usd, gbp/usd and aud/usd?
Personally my platform is GMT, and I think taking a position about 6 am GMT. Do you think this is a problem?
Best regards
vcary
  • #735
  • Mar 8, 2012 7:52am Mar 8, 2012 7:52am
Quoting vcary
Hello Britpip,
I find your approach very interesting
Have you a history of number of trades that you did on these 7 pairs?
Can you confirm that the 3 amigos are: eur/usd, gbp/usd and aud/usd?
Personally my platform is GMT, and I think taking a position about 6 am GMT. Do you think this is a problem?
Best regards
vcary
Vcary

I average between 400 and 1000 pips per month on these pairs - currently up 590 pips for the past 2 weeks.

You do have the 3 amigos correctly identified

6am GMT is going to place you at the London Open - with the candle patterns and the TDI, the signals you receive will still confirm whether you have Price Action - I have not doen any backtesting for candles based on a 6am GMT, so cannot really comment on how that set up would perform.

My general viewpoint is that there probably is not that much to it once you understand how the platform/broker set up works. I used to trade on MB Trading and their candles ran 4 hours behind what I have now with IBFX - doesn't appear to have changed how I trade.
"To live with Passion, it takes Courage and Grace to survive"
  • #736
  • Mar 8, 2012 8:26am Mar 8, 2012 8:26am
Quoting Britpip7
Hi - what's happening in your trading that's getting you crushed?
Well basically been taking trades i shouldnt have and also not getting out at the right time.After i got lucky and made like 2,300 pips in one month i got cocky and was only looking for super duper 400+ pip trades.

Now i been reading the old Tms thread again and doing a lot of backtesting so im changing my approach up.Trying to get consistent.Lately i been back and forth.Win some then lose some.
  • #737
  • Mar 8, 2012 8:33am Mar 8, 2012 8:33am
Quoting Britpip7
Vcary

I average between 400 and 1000 pips per month on these pairs - currently up 590 pips for the past 2 weeks.

You do have the 3 amigos correctly identified

6am GMT is going to place you at the London Open - with the candle patterns and the TDI, the signals you receive will still confirm whether you have Price Action - I have not doen any backtesting for candles based on a 6am GMT, so cannot really comment on how that set up would perform.

My general viewpoint is that there probably is not that much to it once you understand how...
thank you very much for your answer
Best regards
vcary
  • #738
  • Mar 8, 2012 9:06am Mar 8, 2012 9:06am
Quoting kingclarence
Well basically been taking trades i shouldnt have and also not getting out at the right time.After i got lucky and made like 2,300 pips in one month i got cocky and was only looking for super duper 400+ pip trades.

Now i been reading the old Tms thread again and doing a lot of backtesting so im changing my approach up.Trying to get consistent.Lately i been back and forth.Win some then lose some.
I am doing a lot of backtesting mainly beacause on the day charts I set up trades between 8pm and 10pm - any spare time is backtesting.

Currently focussing on the APB bars versus standard candlesticks and adding in CCI(14). It is worth looking at how a colour change on the APB maps to the candlesticks and then studying what happens next with regards to Price Action. On strong trends, an APB colour change may give you 1/2/3 bars but not with much more PA than 100pips or less following the set-up (colour change) candle. When there is a strong reversal, the CCI(14) move is usually very dramatic - not ready to run this in a live account, but makes for interesting testing.

The Big E postings from earlier in the TMS thread are still great reading and so are his training charts - add in dcginc's postings and you have some fantastic expertise to draw upon. Big E observed that when the APB changes colour, always check it out as it usually means 3 to 8 candles on average - next is Price Action which will be confirmed by the TDI.
"To live with Passion, it takes Courage and Grace to survive"
  • #739
  • Edited 11:08am Mar 8, 2012 10:03am | Edited 11:08am
Quoting Britpip7
I am doing a lot of backtesting mainly beacause on the day charts I set up trades between 8pm and 10pm - any spare time is backtesting.

Currently focussing on the APB bars versus standard candlesticks and adding in CCI(14). It is worth looking at how a colour change on the APB maps to the candlesticks and then studying what happens next with regards to Price Action. On strong trends, an APB colour change may give you 1/2/3 bars but not with much more PA than 100pips or less following the set-up (colour change) candle. When there is a strong...
Yeah i been back to studying.I also been checking out x mans thread.The guy with the eagle pictures posts are very helpful.In fact i decided just now im gonna quit trading live and demo trade probably till the end of the year.That and back testing
  • #740
  • Edited 10:54am Mar 8, 2012 10:53am | Edited 10:54am
Hi gents,

following the thread for a week and wanna try to apply the approach to my demo trading. Need an expert view on my thoughts as I'm seeking for possible setups.

If the bar closes beneath the MA will it be a possible setup? ATR(1)/ATR(7) ration looks pretty good, candle pattern is 'Three inside down', 55 MA are heading down.

Or it's better to wait for PA & 200 MA collision result? Besides that tomorrow is Friday & NFP

What do you master Brit recommend?
Attached Image (click to enlarge)
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