DislikedTrade closed. SL git hit by the H1 spike... -36pips.
Back to waiting game for next setup.Ignored
- #6,842
- Mar 27, 2012 4:09am Mar 27, 2012 4:09am
hi all
just watching the charts
its not quite there but is there potential to go short on this one?
TDI looking at a cross on the 4H
PA at upper channel on both 4H and daily
resistance on the way down is at 1.58 on the Daily
just watching the charts
its not quite there but is there potential to go short on this one?
TDI looking at a cross on the 4H
PA at upper channel on both 4H and daily
resistance on the way down is at 1.58 on the Daily
- #6,850
- Mar 27, 2012 7:17am Mar 27, 2012 7:17am
- Joined Nov 2008 | Status: Trader | 50,234 Posts
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #6,859
- Mar 27, 2012 11:17am Mar 27, 2012 11:17am
My first post at FF. 
First of all GREAT thread! I read most of the TMS thread and have almost completed this one. I've been lurking and reading almost constantly the last 2 months or so. I've also opened a demo account with Oanda and trade in the US in the CST time zone. Due to work and sleep schedule restraints, I've limited my trading to the 4H charts and the associated 4H swing method.
I'd like to introduce myself and give a little background on my progression. I began by completing babypips. Then started demo trading TMS by trying to be subjective about the TDI crosses. With no real knowledge of PA, I was failing miserably. I then began trading ALL crosses of the TDI. This worked for a while, until the market started ranging. Then I started losing again. My money management strategy has, so far, kept me from blowing my demo account. I limited myself to a realistic starting balance, and trade it as if it is my real money and not risking any more than 4% per trade (although, once I became proficient at position sizing, I just trade flat 0.1 lots on everything now to make it a little easier). I'm extremely competitive, so this is quite easy for me as the pure concept of winning (or growth of account if you prefer) is more important to me than the $$ figures won/lost. I'm an engineer by trade, so I'm a very technical person and can tend to overanalyze sometimes.
With all that said, here are my current trades, taken this morning on the 4H chart. Any feedback/criticism will be much appreciated, as I think I can learn quicker through critiques.
All stops set at last swing high/low.
AUD/USD - Short
Entered at open of 08:00 (EST) candle
Reasons for trade: 
Entered at open of 08:00 (EST) candle
Reasons for trade:
First of all GREAT thread! I read most of the TMS thread and have almost completed this one. I've been lurking and reading almost constantly the last 2 months or so. I've also opened a demo account with Oanda and trade in the US in the CST time zone. Due to work and sleep schedule restraints, I've limited my trading to the 4H charts and the associated 4H swing method.
I'd like to introduce myself and give a little background on my progression. I began by completing babypips. Then started demo trading TMS by trying to be subjective about the TDI crosses. With no real knowledge of PA, I was failing miserably. I then began trading ALL crosses of the TDI. This worked for a while, until the market started ranging. Then I started losing again. My money management strategy has, so far, kept me from blowing my demo account. I limited myself to a realistic starting balance, and trade it as if it is my real money and not risking any more than 4% per trade (although, once I became proficient at position sizing, I just trade flat 0.1 lots on everything now to make it a little easier). I'm extremely competitive, so this is quite easy for me as the pure concept of winning (or growth of account if you prefer) is more important to me than the $$ figures won/lost. I'm an engineer by trade, so I'm a very technical person and can tend to overanalyze sometimes.
With all that said, here are my current trades, taken this morning on the 4H chart. Any feedback/criticism will be much appreciated, as I think I can learn quicker through critiques.
All stops set at last swing high/low.
AUD/USD - Short
Entered at open of 08:00 (EST) candle
Reasons for trade:
- Previous break of blue bands
- TDI cross, good slope
- Candle color change
- Previous candle was a pullback candle
- Downtrend, both channel and 60EMA
- Next daily resistance about 100 pips away
Currently +20 pips.
NZD/USD - Short
Entered at open of 08:00 (EST) candle
Reasons for trade:
- Same as above except:
- Next daily resistance is about 60 pips away
Currently +4 pips.
LOSING TRADES
AU and NU - Entered early, and SL hit by the previously mentioned pullback candles/spikes/stop hunting SOBs 
. Whatever you want to call it. -42 pips and -24 pips respectively. Still think I'm on the right side, so I re-entered when I saw the opportunity.
GU - Taken a little early on break of the channel. No break of the blue bands, so I monitored closely. Closed when it retraced at -17 pips. It actually retraced much further before I caught it, but it moved back in my direction. I didn't like the PA at that point, so I closed and am waiting for a better re-entry point.
Any and all comments welcome. Thanks, and I hope to be filling my wheelbarrow soon! 
- #6,860
- Mar 27, 2012 11:24am Mar 27, 2012 11:24am
- Joined Mar 2007 | Status: Trader | 2,127 Posts
Make sure losses are small and profits are bigger!