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Trading Made Simple

  • #14,741
  • Mar 19, 2012 6:48am Mar 19, 2012 6:48am
Quoting only20gp
yeh, i use the daily pivot and weekly pivot but as secondry use only. Not really a primary factor.

Short now on EUR/JPY not really happy with the entry but lets see how it goes.
Thanks for the info. I don't have EUR/JPY on my watchlist but it looks like a great entry. Strong down candle during the cross and it was off of old resistance from Feb. 26 so should be okay once some damn liquidity comes back to the market today lol. I noticed on the 9 pairs i have the 12-4am and 4-8am candles are tiny
  • #14,742
  • Mar 19, 2012 6:54am Mar 19, 2012 6:54am
Quoting bruski
Hey By_tor,

Just entered the same trade but exited with +45 points. Looks to be turning back long, was flirting with my S/L for a while so was happy to take the profit.

(Demo at this stage..)

Bruski.
Hi Bruski,

You took 45 pips from the AUD/USD trade? But it's hardly moved?!
In boxing, all the champion's results are visible. In forex, talk is cheap.
  • #14,743
  • Mar 19, 2012 7:05am Mar 19, 2012 7:05am
Quoting only20gp
yeh, i use the daily pivot and weekly pivot but as secondry use only. Not really a primary factor.

Short now on EUR/JPY not really happy with the entry but lets see how it goes.
Hi there can't seem to download the same screen as yourself- the thread is so big I can't find the indicator or template files to download many thanks for any help you can provide me with.
  • #14,744
  • Mar 19, 2012 7:15am Mar 19, 2012 7:15am
Quoting By_Tor2114
Hi Bruski,

You took 45 pips from the AUD/USD trade? But it's hardly moved?!
Yah but he said 45 POINTS... thats like 4.5 pips lol ...
  • #14,745
  • Mar 19, 2012 7:34am Mar 19, 2012 7:34am
Quoting thrasher88
Yah but he said 45 POINTS... thats like 4.5 pips lol ...
Ahhhh! I was reading too fast and missed the points/pips issue!

It's often the simple things that trip me!
In boxing, all the champion's results are visible. In forex, talk is cheap.
  • #14,746
  • Mar 19, 2012 7:39am Mar 19, 2012 7:39am
Here is a beautiful 1 min trade on GU
Attached Image (click to enlarge)
Click to Enlarge Name: when 1 min charts look like this.gif Size: 50 KB
  • #14,747
  • Mar 19, 2012 7:45am Mar 19, 2012 7:45am
I was up for London, got in a few trades after london open AU, and EU, made my pips and went back to bed about 4:30 AM. Ej was also a good short, but did not want to over leverage myself.

HH
  • #14,748
  • Mar 19, 2012 8:06am Mar 19, 2012 8:06am
Quoting By_Tor2114
Closed a 6 pip loss on E/G as the TDI hooked back over... Looking good today.

Just taken this short on the H4 AUD/USD. Let's see where this one goes.

Any comments on my other trades today?
I have taken the same trade this morning on audusd, Follow the rules as laid out and trading with price action you will do very well.

joffie
Attached Image (click to enlarge)
Click to Enlarge Name: audusd.gif Size: 28 KB
  • #14,749
  • Mar 19, 2012 8:34am Mar 19, 2012 8:34am
Hey Joffie,

Can I ask what time your broker draws its 4hr bars for you ? Because mine does them @ 4am and 8am EST and mine look different than yours. Also would you mind linking that calendar indicator? I downloaded a couple but they're not working they're saying "4095 days SINCE <event>", not that helpful lol.

Thanks.
  • #14,750
  • Mar 19, 2012 9:12am Mar 19, 2012 9:12am
Quoting thrasher88
Hey Joffie,

Can I ask what time your broker draws its 4hr bars for you ? Because mine does them @ 4am and 8am EST and mine look different than yours. Also would you mind linking that calendar indicator? I downloaded a couple but they're not working they're saying "4095 days SINCE <event>", not that helpful lol.

Thanks.

Hi Thrasher, have attached the FF calender, my 4hr candles are timed at 0.800 and 12.00 hrs broker time which is 7am and 11am London time, currently London is same as GMT.

joffie
Attached File(s)
File Type: mq4 FFCalNew.mq4   49 KB | 513 downloads
  • #14,751
  • Mar 19, 2012 11:03am Mar 19, 2012 11:03am
Quoting joffie
Hi Thrasher, have attached the FF calender, my 4hr candles are timed at 0.800 and 12.00 hrs broker time which is 7am and 11am London time, currently London is same as GMT.

joffie
Hey Joffie,

Thanks a lot for the info and the indicator, should help lots... On a side note have you guys felt that this is a crazy day for trading? No volatility early on and now price can't make up it's mind... Glad I didn't get in on anything, even though it feels like a waste of a day... Hope you guys are makin' pips...
  • #14,752
  • Mar 19, 2012 11:07am Mar 19, 2012 11:07am
Quoting thrasher88
Hey Joffie,

Thanks a lot for the info and the indicator, should help lots... On a side note have you guys felt that this is a crazy day for trading? No volatility early on and now price can't make up it's mind... Glad I didn't get in on anything, even though it feels like a waste of a day... Hope you guys are makin' pips...
Today definitely came across as odd. Due to some of my "alternative" approaches, I believe I've come out of today in the area of 40 pips better off.
In boxing, all the champion's results are visible. In forex, talk is cheap.
  • #14,753
  • Mar 19, 2012 11:29am Mar 19, 2012 11:29am
Quoting joffie
I have taken the same trade this morning on audusd, Follow the rules as laid out and trading with price action you will do very well.

joffie
This is a standard good trade.
  • #14,754
  • Mar 19, 2012 11:46am Mar 19, 2012 11:46am
Why would you ever short A/U? I thought this thread was specifically designed to trade daily chart? Did you guys see what the weekly candle looks like or the last two days of price action on daily? Even if you would have made money on this trade it was poor choice you cant go against the BIG money and win. People went long exactly where the last weeks candle on the weekly chart opened. Don't trade against the trend, differentiate between the short term and long term.
  • #14,755
  • Mar 19, 2012 12:37pm Mar 19, 2012 12:37pm
Quoting ashag28
Why would you ever short A/U? I thought this thread was specifically designed to trade daily chart? Did you guys see what the weekly candle looks like or the last two days of price action on daily? Even if you would have made money on this trade it was poor choice you cant go against the BIG money and win. People went long exactly where the last weeks candle on the weekly chart opened. Don't trade against the trend, differentiate between the short term and long term.
I understand your logic on this. However, this system was built to trade 4hr. At least that was the latest sentiment from Eelfranz, the original creator of it. Also if you set it up with the APB candles and the rest of the template and look back you'll see plenty of examples where that AUD/USD trade would normally have workedout. Although, I didn't take that trade myself because I would've liked to see more downward bias in the cross candle it was still following the general rules of this system. What system(s) do you follow?
  • #14,756
  • Mar 19, 2012 1:20pm Mar 19, 2012 1:20pm
Quoting thrasher88
I understand your logic on this. However, this system was built to trade 4hr. At least that was the latest sentiment from Eelfranz, the original creator of it. Also if you set it up with the APB candles and the rest of the template and look back you'll see plenty of examples where that AUD/USD trade would normally have workedout. Although, I didn't take that trade myself because I would've liked to see more downward bias in the cross candle it was still following the general rules of this system. What system(s) do you follow?
What system I trade? I don't know how to answer that question. I guess the way I would describe my system is discretionary Price Action off support and resistance in the overall daily direction with price action confirmation. I am a candle follower. The only signal I had in last 24 hours was G/J with entry at 132.20 and now A/U looks like it might be a signal after this 8hr candle closes.
  • #14,757
  • Mar 19, 2012 1:23pm Mar 19, 2012 1:23pm
Quoting thrasher88
I understand your logic on this. However, this system was built to trade 4hr. At least that was the latest sentiment from Eelfranz, the original creator of it. Also if you set it up with the APB candles and the rest of the template and look back you'll see plenty of examples where that AUD/USD trade would normally have workedout. Although, I didn't take that trade myself because I would've liked to see more downward bias in the cross candle it was still following the general rules of this system. What system(s) do you follow?
I don't put too much emphasis on any specific time frame. The longer the time frame the bigger the money trading it. if the signal is there on the longer time frame that corresponds with overall direction I am not going against it on the shorter time frame no matter how pretty that pin bar is.
  • #14,758
  • Mar 19, 2012 2:55pm Mar 19, 2012 2:55pm
Quoting thrasher88
Also if you set it up with the APB candles and the rest of the template and look back you'll see plenty of examples where that AUD/USD trade would normally have workedout. Although, I didn't take that trade myself because I would've liked to see more downward bias in the cross candle it was still following the general rules of this system.
I guess this was my first mistake, i took the same trade as you saw earlier with my 45 Point (4 pip) profit. I jumped in very early as I saw things starting to turn and the start of a 1st red candle, an hour later it seemed clear to me that I was a bit premature and it was going to turn back so I closed out the position.

I do agree that there are a lot of opportunities for selling when the big picture is saying bullish but I have not made up my mind if it is the right thing or wrong thing to do.

I have a feeling it is not good to go against the grain.

Bruski.
  • #14,759
  • Mar 19, 2012 3:09pm Mar 19, 2012 3:09pm
Quoting ashag28
Why would you ever short A/U? I thought this thread was specifically designed to trade daily chart? Did you guys see what the weekly candle looks like or the last two days of price action on daily? Even if you would have made money on this trade it was poor choice you cant go against the BIG money and win. People went long exactly where the last weeks candle on the weekly chart opened. Don't trade against the trend, differentiate between the short term and long term.
I took the sell on the audusd based on this simple method rules, in fact the trade was closed out at break even.

But that does not mean the trade wasn't taken from price action, the 4hr had hit into a daily resistance, which was a daily previous support broken to the down side and which is now being tested from below, this resistance can also be seen in the form of the middle of the large bear candle which broke through the support level and now tests this same level from below. Now yes there is a pin bar formed on the weekly, but the daily has made a very nice drop from also breaking the up trend line also being the large daily bear candle being the breakout to the downside of the trend line, and gave a test 2 candles later of this trend line giving a nice drop before finding support once again.

So for me right now the audusd bias for the daily is a trend reversal and can now either from here turn back down of the resistance or break back up again. That then brings me to what could happen with the weekly pin bar. This could turn out to be a reversal rejection, meaning if we see a close below the 50% level of the lower wick of this pin bar price would continue lower. But all we can do now is trade what price is showing you on the charts.

joffie
Attached Image(s) (click to enlarge)
Click to Enlarge Name: audusd daily.gif Size: 26 KB
Click to Enlarge Name: audusd 4hr.gif Size: 27 KB
  • #14,760
  • Mar 19, 2012 3:28pm Mar 19, 2012 3:28pm
Quoting joffie
Is this the sort of candles you follow?

joffie
I would have not taken that trade under any circumstances because nowhere on the daily chart was an indication of the change in trend. Was it possible that you could have picked the top of this move? Could be, but I am not into guessing business. I expected for the trend to continue and waited to resumption of trend if it didn't come than I wouldn't be in the trade. Please point out to me anything that made you think that instead of AUD going long it will from now on go short. 4hr time frame by itself is not an important time frame in my humble opinion. I take trades on 4hr only if they full correspond with my overall trade plan.
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