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Trading Made Simple for Day Charts

  • #1,001
  • Aug 28, 2012 4:52pm Aug 28, 2012 4:52pm
Never thought this would get to 1,000 posts

USA confidence numbers sank the 3 Amigos this morning and now everything looks to be flattening out after all the excitement.

AUD pairs still looking good, especially against JPY, CAD and CHF

Also still going are the EUR and GBP versus AUD and NZD.
"To live with Passion, it takes Courage and Grace to survive"
  • #1,002
  • Aug 28, 2012 8:52pm Aug 28, 2012 8:52pm
Quoting Britpip7
Never thought this would get to 1,000 posts

USA confidence numbers sank the 3 Amigos this morning and now everything looks to be flattening out after all the excitement.

AUD pairs still looking good, especially against JPY, CAD and CHF

Also still going are the EUR and GBP versus AUD and NZD.
Hi Britpip7, could I bother you some time to have a look on my chart above? I really appreciate your assistant and guidance. Thank you very much!
  • #1,003
  • Aug 28, 2012 10:53pm Aug 28, 2012 10:53pm
Quoting shakeyiu
Nice to see you here! I have been trading on TMS & Xman method for a few months... but I still can't a profitable way to make profit consistently. I think it's due to my daytime job and unable to check every pair in H1 or H4 chart... Last week, I was lucky to find your thread here. At the same time, I read a good article online showing that the advantages of trading on Daily Chart (http://www.learntotradethemarket.com...rading-results)....

I like the aud/cad and aud/jpy charts - shows a really good channel on the TDI so great entry signals when the RSI Price Line breaks the upper or lower zone.

Charts look great - the gbp/jpy PA spiked and would have triggered any pending trades based off of the Fractal Low.

Mostly the jpy pairs have gone flat - most of the action is currently on aud pairs and nzd pairs
"To live with Passion, it takes Courage and Grace to survive"
  • #1,004
  • Aug 28, 2012 11:08pm Aug 28, 2012 11:08pm
Nice view of the aud index still retreating

300pips in 11 days since the entry point without add-ons

750pips with add-ons as shown on the H4 chart

200ema is now 130pips away on the day chart

SL strategy uses the Fractal Highs on H4
Attached Image(s) (click to enlarge)
Click to Enlarge Name: aud index day 8-28-2012.gif Size: 27 KB
Click to Enlarge Name: aud index h4 8-28-2012.gif Size: 26 KB
"To live with Passion, it takes Courage and Grace to survive"
  • #1,005
  • Aug 28, 2012 11:21pm Aug 28, 2012 11:21pm
NZD now has a day close below 200ema

Fractal Low break

RSI 10 has been below 50 for a few candles

Nice TDI slope

H4 chart is at 32 on TDI but is worth watching for more entry opportunities on fractal breaks
"To live with Passion, it takes Courage and Grace to survive"
  • #1,006
  • Aug 29, 2012 10:55pm Aug 29, 2012 10:55pm
EU and GU continue to drift - no real signals. EU has an inside candle.

AUD continues to move south - pick your favorite pairing

CAD/JPY and USD/JPY showing signs of heading south - add to watch list

EUR/AUD and GBP/AUD continue to rise - GPB/AUD has closed above the 200ema
Attached Image (click to enlarge)
Click to Enlarge Name: aud index h4 8-29-2012.gif Size: 28 KB
"To live with Passion, it takes Courage and Grace to survive"
  • #1,007
  • Aug 30, 2012 10:05am Aug 30, 2012 10:05am
Quoting Britpip7
EU and GU continue to drift - no real signals. EU has an inside candle.

AUD continues to move south - pick your favorite pairing

CAD/JPY and USD/JPY showing signs of heading south - add to watch list

EUR/AUD and GBP/AUD continue to rise - GPB/AUD has closed above the 200ema
HI Britpip7, do you actual trade AU index? Which Broker has this index to trade? Also, is it wide spread?

BTW, I would like to ask the ranking in # of diff currency indicator that how it works.

Thanks
  • #1,008
  • Aug 30, 2012 5:13pm Aug 30, 2012 5:13pm
Quoting shakeyiu
HI Britpip7, do you actual trade AU index? Which Broker has this index to trade? Also, is it wide spread?

BTW, I would like to ask the ranking in # of diff currency indicator that how it works.

Thanks
Only demo trading with the indeces right now and the results have been very encouraging. You can also use them to give you confirmation of direction on the standard forex pairs. Trading method will be the same - no need to mess with the current approach, except that I am currently using candlesticks as opposed to APB!

Liteforex - http://www.liteforex.com/downloads/mt4/

Didn't see anything too bad on spreads - doesn't really make much of a difference to me seeing as I am on the higher timeframes, so 5 - 8 pips is nothing when we are looking for 100+ pip moves.

Should go live in the next month.
"To live with Passion, it takes Courage and Grace to survive"
  • #1,009
  • Aug 30, 2012 7:41pm Aug 30, 2012 7:41pm
Quoting Britpip7
Only demo trading with the indeces right now and the results have been very encouraging. You can also use them to give you confirmation of direction on the standard forex pairs. Trading method will be the same - no need to mess with the current approach, except that I am currently using candlesticks as opposed to APB!

Liteforex - http://www.liteforex.com/downloads/mt4/

Didn't see anything too bad on spreads - doesn't really make much of a difference to me seeing as I am on the higher timeframes, so 5 - 8 pips is nothing when we...
Nice! Thx u!!
Btw, just entered GBPJPY today as it goes back to fractal low and show strong PA
Also did long on USDCAD, fresh signal of APB TDI AND EMA5, will add position when it breaks high fractal

Thx!!
  • #1,010
  • Aug 30, 2012 11:30pm Aug 30, 2012 11:30pm
Quoting shakeyiu
Nice! Thx u!!
Btw, just entered GBPJPY today as it goes back to fractal low and show strong PA
Also did long on USDCAD, fresh signal of APB TDI AND EMA5, will add position when it breaks high fractal

Thx!!
GBP/JPY looks the best of the bunch - I have a pending sell stop.
"To live with Passion, it takes Courage and Grace to survive"
  • #1,011
  • Sep 3, 2012 10:50pm Sep 3, 2012 10:50pm
This pair is still kicking. Chances are that it is gonna make 1.2500
Attached Image (click to enlarge)
Click to Enlarge Name: euaud 210812.gif Size: 28 KB
Forex is boring but profitable with patience and discipline
  • #1,012
  • Sep 4, 2012 12:08am Sep 4, 2012 12:08am
Quoting prftablefool
This pair is still kicking. Chances are that it is gonna make 1.2500
Ride the wave and be happy

Nicely done with the add ons - keep managing the stop losses.
"To live with Passion, it takes Courage and Grace to survive"
  • #1,013
  • Sep 4, 2012 4:07pm Sep 4, 2012 4:07pm
Subscribed. Thanks for all of the posts. Since I'm new to this, I'll be reading for some time. Thanks again.
  • #1,014
  • Sep 5, 2012 9:11am Sep 5, 2012 9:11am
Quoting boomboom1960
Subscribed. Thanks for all of the posts. Since I'm new to this, I'll be reading for some time. Thanks again.
Welcome to the group
"To live with Passion, it takes Courage and Grace to survive"
  • #1,015
  • Sep 5, 2012 11:21pm Sep 5, 2012 11:21pm
Hi guys, i went in for a eur cad short....and got stopped out at 120 pips. This was twice the ATR for 7 days. Now i know losses are part of any method....but i wanted to see what others who have spent time in this daily method have to say. Maybe there was something i could have done differently?
Attached Image (click to enlarge)
Click to Enlarge Name: eurcad.gif Size: 27 KB
  • #1,016
  • Sep 6, 2012 1:14pm Sep 6, 2012 1:14pm
Quoting artieboy
Hi guys, i went in for a eur cad short....and got stopped out at 120 pips. This was twice the ATR for 7 days. Now i know losses are part of any method....but i wanted to see what others who have spent time in this daily method have to say. Maybe there was something i could have done differently?

Would you mind explaining the rationale of going short as atleast I don't see any reason when price is stuck in the range.
Forex is boring but profitable with patience and discipline
  • #1,017
  • Sep 6, 2012 1:44pm Sep 6, 2012 1:44pm
Quoting prftablefool
Would you mind explaining the rationale of going short as atleast I don't see any reason when price is stuck in the range.

Sure, i had set a sell stop for a fractal break. Now, what happened was that it did just barely set off the sell, but as soon as it did, it just reversed upwards. Now when i look at it, the bars don't really have ideal price action....
  • #1,018
  • Sep 6, 2012 3:33pm Sep 6, 2012 3:33pm
Quoting artieboy
Sure, i had set a sell stop for a fractal break. Now, what happened was that it did just barely set off the sell, but as soon as it did, it just reversed upwards. Now when i look at it, the bars don't really have ideal price action....
Agreed - not the strongest PA to make an entry - dropping down to H4 may have given you a better view of the range.
Attached Image (click to enlarge)
Click to Enlarge Name: eur cad h4.gif Size: 35 KB
"To live with Passion, it takes Courage and Grace to survive"
  • #1,019
  • Sep 6, 2012 7:43pm Sep 6, 2012 7:43pm
Quoting Britpip7
Agreed - not the strongest PA to make an entry - dropping down to H4 may have given you a better view of the range.
Thanks britpip, that RSI level was something i did not catch at the moment.
  • #1,020
  • Sep 6, 2012 8:09pm Sep 6, 2012 8:09pm
Quoting artieboy
Thanks britpip, that RSI level was something i did not catch at the moment.
I have it with no colour in the TDI window, but watch the value in the data window. If I have a trade that goes against me it is usually a combination of one or more of the following

lack of PA momentum

200ema rejects the PA

strong support / demand levels

RSI not crossing / closing above / below the 50 level

I could add that sometimes sh*t happens, but figured you already knew that one
"To live with Passion, it takes Courage and Grace to survive"
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