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Trading Made Simple

  • #14,761
  • Mar 19, 2012 3:29pm Mar 19, 2012 3:29pm
Quoting joffie
Is this the sort of candles you follow?

joffie
From what I see 4hr pulled back to the first level of support and continued.
  • #14,762
  • Mar 19, 2012 5:23pm Mar 19, 2012 5:23pm
Quoting ashag28
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...

From what I am looking at was a change in daily trend, thats when price broke the daily trend line and tests from below proving the trendline acted as resistance after breaking, also with the daily making lower highs and lows proves the trend is down, now may be the usual saying once support broken may act as resistance on daily level. The entry I took today was based on the "simple method" which this thread is all about, using the signals it gives thats why I posted the trade, and using the method there was no losses either.

As I had said from when I started posting in this forum, I only trade price, and have not been trading with any indicators for some time. Just because I sold the audusd on this 4hr simple method does not mean I wasn't watching for a buy trade on the break test buy as shown below taking profits at the daily resistance today for a scalp buy. You have your opinion but I know what I do in my daily routine sure isn't guess work. Now I wait for price to show me if the resistance will hold or break higher.



joffie
Attached Image(s) (click to enlarge)
Click to Enlarge Name: audusd 4hr.gif Size: 25 KB
Click to Enlarge Name: audusd 1hr.gif Size: 24 KB
  • #14,763
  • Mar 19, 2012 5:32pm Mar 19, 2012 5:32pm
Quoting joffie
From what I am looking at was a change in daily trend, thats when price broke the daily trend line and tests from below proving the trendline acted as resistance after breaking, also with the daily making lower highs and lows proves the trend is down, now may be the usual saying once support broken may act as resistance on daily level. The entry I took today was based on the "simple method" which this thread is all about, using the signals it gives thats why I posted the trade, and using the method there was no losses either.

As I had said...
Personally I do not scalp, not my thing, don't need to.
  • #14,764
  • Mar 19, 2012 5:37pm Mar 19, 2012 5:37pm
[quote=ashag28;5491430]Personally I do not scalp, not my thing, don't need to.[/quO

What do you trade?

How do you trade?

perhaps show us what your doing?

You say you dont need to scalp?

How are you reading candles?
  • #14,765
  • Mar 19, 2012 5:50pm Mar 19, 2012 5:50pm
[quote=joffie;5491440]
Quoting ashag28
Personally I do not scalp, not my thing, don't need to.[/quO

What do you trade?

How do you trade?

perhaps show us what your doing?

You say you dont need to scalp?

How are you reading candles?
That is a big question. I'll try to give you the gist of it.
Weekly chart and Monthly chart: identify support and resistance levels.
Place the lines on the daily chart to identify the weekly and monthly important levels. Wait for a trend to establish itself-----> for example, the weekly candle and daily direction that you can see on AUD right now and wait for a signal that comes in a form of a pin bar, engulfing candle, or inside candle that comes off shorter term support or resistance depending which direction Im going. WAIT and WAIT and WAIT some more until my signal comes than place a pending order at the level of interest. I watch 15 vehicles so its just a matter of time until something comes.
  • #14,766
  • Mar 20, 2012 6:03am Mar 20, 2012 6:03am
Anyone else in?
Attached Image (click to enlarge)
Click to Enlarge Name: eur.gif Size: 25 KB
In boxing, all the champion's results are visible. In forex, talk is cheap.
  • #14,767
  • Mar 20, 2012 6:12am Mar 20, 2012 6:12am
This was a price action entry on the audusd pair to sell, was also confirmed by the simple method as well, but entry using it would have been on the 3rd candle, so took the sell based on price and candles.

joffie
Attached Image (click to enlarge)
Click to Enlarge Name: audusd.gif Size: 25 KB
  • #14,768
  • Mar 20, 2012 6:35am Mar 20, 2012 6:35am
Quoting joffie
This was a price action entry on the audusd pair to sell, was also confirmed by the simple method as well, but entry using it would have been on the 3rd candle, so took the sell based on price and candles.

joffie
How about this confirmation for shorting bearish bias
Attached Image (click to enlarge)
Click to Enlarge Name: 151.GIF Size: 49 KB
finding A M S
  • #14,769
  • Mar 20, 2012 6:42am Mar 20, 2012 6:42am
Quoting joffie
This was a price action entry on the audusd pair to sell, was also confirmed by the simple method as well, but entry using it would have been on the 3rd candle, so took the sell based on price and candles.

joffie
I have attached update of trade, price is at a trendline test after the break to the upside, so have closed half of the trade and now wait for a exit.

joffie
Attached Image (click to enlarge)
Click to Enlarge Name: audusd.gif Size: 28 KB
  • #14,770
  • Mar 20, 2012 6:45am Mar 20, 2012 6:45am
I couldn't reply to another thread, so thankfully I can here...

I'm a noob, please bear with me a little...
Just a simple question, I know that in the MT4 the software I am using, I can insert horizontal lines.. but I want to insert 2 horizontal lines as a set, and if I move one, the other follows. More details: the two horizontal lines are 3 pips apart, and if I move the horizontal lines, both will move.

Please help. thanks in advance...
bit . ly/fantestimonials
  • #14,771
  • Mar 20, 2012 7:16am Mar 20, 2012 7:16am
eelfranz,

Thank you for sharing this trading method!

It was a nice start for me last night. So farI have only read the 1st 10 pages of the thread, but I placed my 1st live trades last night. All 3 trades were short trades on AU, NU and GU. AU and NU made +50 pips each and GU is currently +30 pips (+10 locked in).

My thanks to everyone on the forum.

Good trading,
BC2
  • #14,772
  • Mar 20, 2012 7:25am Mar 20, 2012 7:25am
Quoting Bobcat2
eelfranz,

Thank you for sharing this trading method!

It was a nice start for me last night. So farI have only read the 1st 10 pages of the thread, but I placed my 1st live trades last night. All 3 trades were short trades on AU, NU and GU. AU and NU made +50 pips each and GU is currently +30 pips (+10 locked in).

My thanks to everyone on the forum.

Good trading,
BC2
This says everything!
Well done. Dont read the next pages and add things and make it complicated and start losing.. Stick to the baisics as the author has repeatedly mentioned. .
  • #14,773
  • Mar 20, 2012 7:35am Mar 20, 2012 7:35am
Quoting Anu_
This says everything!
Well done. Dont read the next pages and add things and make it complicated and start losing.. Stick to the baisics as the author has repeatedly mentioned. .
Lol... this is actually true ^^

Bobcat2... you were trading 1hr charts I assume?
  • #14,774
  • Edited 10:47am Mar 20, 2012 10:16am | Edited 10:47am
This is a great thread. Thank you for taking the time etc... Im in need of a good shake up strategy wise and this looks great. Simple and Clean and helps focus on the higher time frames etc!

I have a habit of falling into th m15 chart from time to time and get slaughtered nearly every time, will be reading this thread with great interest...as im on page 10 i best crack on

Thanks again

Before i forget, out of interest as you place stops at previous lows do you take a look at lower time frames to consider your entrys and to minimize stops?
  • #14,775
  • Mar 20, 2012 11:02am Mar 20, 2012 11:02am
So I took a short yesterday on the EURJPY and got stopped out for -40 pips (pic below) Last week week took 6 trades, 5 winners and one loss. Something about mondays, past 4 weeks all my losses were on mondays.
Anyways, this is a clear example of trading against the trend. Once again didnt follow my rules.

Today took the NZDUSD cross and had to rush to work without activating my EA to control my exit. Anycase, took a good +35 pips from the market, had my EA been on theis trade in now at + 90 pips.

Because its very rare for me to have 2 trades in a loss in a row, I normaly double the lots from the loss trade. So far already roughly 30 pips up this week.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurjpy.PNG Size: 63 KB
Click to Enlarge Name: aud.PNG Size: 59 KB
  • #14,776
  • Mar 20, 2012 11:10am Mar 20, 2012 11:10am
Quoting By_Tor2114
Anyone else in?
Tor2114 not a bad setup, seems like you got stopped out. Did you look at the calender and news coming out before taking the trade? I would have stayed away from any USD/GBP trade around that time cuz of the US Building Permits.
  • #14,777
  • Mar 20, 2012 11:27am Mar 20, 2012 11:27am
Quoting only20gp
Tor2114 not a bad setup, seems like you got stopped out. Did you look at the calender and news coming out before taking the trade? I would have stayed away from any USD/GBP trade around that time cuz of the US Building Permits.
I actually bailed out with pretty much nothing either way, as I saw it was getting stuck in the congested spot that ended on Friday. Today was decidedly "meh!"
In boxing, all the champion's results are visible. In forex, talk is cheap.
  • #14,778
  • Mar 20, 2012 12:04pm Mar 20, 2012 12:04pm
Quoting ForMeFact0ry
I couldn't reply to another thread, so thankfully I can here...

I'm a noob, please bear with me a little...
Just a simple question, I know that in the MT4 the software I am using, I can insert horizontal lines.. but I want to insert 2 horizontal lines as a set, and if I move one, the other follows. More details: the two horizontal lines are 3 pips apart, and if I move the horizontal lines, both will move.

Please help. thanks in advance...
sorry again, if no one can answer this, please direct me to someone pls...

-edit- I've created a new thread for it : http://www.forexfactory.com/showthread.php?p=5494670
bit . ly/fantestimonials
  • #14,779
  • Mar 20, 2012 1:38pm Mar 20, 2012 1:38pm
Quoting ForMeFact0ry
sorry again, if no one can answer this, please direct me to someone pls...

-edit- I've created a new thread for it : http://www.forexfactory.com/showthread.php?p=5494670
Formefactory, before we start trying to be creative here, can I check why you want the lines? There might be another way of achieving the same result? For example if you were trying to mark where your trade comes into profit you could just set up to show both the bid and ask lines automatically? Cheers.
  • #14,780
  • Mar 20, 2012 1:59pm Mar 20, 2012 1:59pm
So I haven't been having much luck with the 4hr at all... I think I'm too new a trader to have learned the discipline required... eg., always wanting to get out of trades before they get too close to s/l and getting out before my planned t/p etc.

So I went back to trading 1hr and its been good, I made back all my semi-minor losses from the 4hr. However... We need some liquidity in this market!... Do you guys all use the market tab just above this screen here on FF? It's GREAT, it shows where liquidity is as compared to a 30 day liquidity avg that it accumulates from everyone's broker data and it shows detailed information about all your trades, you guys probably already know but just sayin' lol...
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