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  • #8,881
  • Oct 10, 2012 11:59pm Oct 10, 2012 11:59pm
Quoting Phx62
1st trade....LO on a day when banks were closed...took a smaller target....noticed a long trend from the Friday before....threw a fib on it and when it retraced to the 38 and reversed, I knew that leg 2 would equal leg 1 (ended up 2 pips different).....entry occurred right at LO.....traded accordingly....Today took a trade at LO based on PA......had some drawdown (17 pips) but stuck it out ....TDI had already crossed...closed for +31 on a pullback from what turned out to be the high of the day.....saw a subsequent test of that high and another pullback....entered...
very good flow alignment!
  • #8,882
  • Oct 11, 2012 1:00am Oct 11, 2012 1:00am
Quoting atgmer
Hello,

I entered 1 candle after Munirpt, saw the TDI bounded and entered long.
Got stopped out -22pips.
Any comments to help with trade entry? Still not sure how to spot my mistakes.
Thanks.
Hi.Trust me - been there, done that.As PHX says, PA (price action) is the king. But it takes time and practice to read it properly. Until then, this method will help you filter trades against trend current time frame you are using:http://www.protradenetwork.com/2012/...our-chart/Good luck!BR
  • #8,883
  • Oct 11, 2012 1:22am Oct 11, 2012 1:22am
Quoting atgmer
Hello,

I entered 1 candle after Munirpt, saw the TDI bounded and entered long.
Got stopped out -22pips.
Any comments to help with trade entry? Still not sure how to spot my mistakes.
Thanks.
That probably means you entered after about 6 blue candles. Asian market never moved up which is strange so that probably meant the lows of 5 Oct were acting as resistance after a strong move down on 8th.

You cannot stop some trades losing (take care entering after so many candles after cross) but the LO cross lower with the engulfing negative close gave the chance to exit and sell.
  • #8,884
  • Oct 11, 2012 3:21am Oct 11, 2012 3:21am
Why you should be buying EURO

Side note :

we still have a downward trendline to break
price didnt touch support, so it might make one more push down (like previous bulish divergence)

Remember : always use a SL in case market doesnt react the way you expect. we never know what market will do.
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  • #8,885
  • Oct 11, 2012 4:18am Oct 11, 2012 4:18am
H1 trend is still down (although TDI is set to go) so I took min15 trade where everything was alligned. Closed 20, so I'm out for now.Note: I had my eyes more on DAX as it's more prone to bullish trades ATM, but missed entry (kindergarden trip). Looking at chart now it makes me a bit mad.
  • #8,886
  • Oct 11, 2012 5:30am Oct 11, 2012 5:30am
some food for thought.

you need to understand how market moves.

Follow what PHX62 says : learn S&R, structure, divergence, Fibs, market harmonics

good luck
Attached Image (click to enlarge)
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  • #8,887
  • Oct 11, 2012 5:35am Oct 11, 2012 5:35am
Trade closed : + 43 pips

Lets see what NY market bring us...
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  • #8,888
  • Oct 11, 2012 6:11am Oct 11, 2012 6:11am
some more evidence of market harmonics

today EU is moving in 47 pips batches
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  • #8,889
  • Oct 11, 2012 7:03am Oct 11, 2012 7:03am
Quoting atgmer
Hello,

I entered 1 candle after Munirpt, saw the TDI bounded and entered long.
Got stopped out -22pips.
Any comments to help with trade entry? Still not sure how to spot my mistakes.
Thanks.
1. Price rejected off the 50%. Prior Support
2. Tdi priceline is hugging the signal line, no momentum. Second Bounce off signal line. NO NO. Priceline and signal line outside the Blue Band.
3. Price rejected 50% a second time by now you should have been thinking of getting out.
4. next candle small doji. no momentum. Tdi price line still stuck on signalline. You are out.

You could have saved yourself the trouble if you had placed your order on a break of the candle high that rejected off the 50%. Which did not happen.

But all in all this was not a long Entry.
Cut your Losers short and let your Winners run.
  • #8,890
  • Oct 12, 2012 6:16am Oct 12, 2012 6:16am
Quoting dee50
PriceLine (green) -> 2-period SMA of RSI(13)
SignaLline (red) -> 7-period SMA of RSI(13)
Average (yellow) -> 34-period SMA of RSI(13)
Bands -> Bollinger(34, 1.62) of RSI(13)
Using the above info kindly supplied by Dee50, I programmed the TDI for my platform.
Today I was playing around with indicators and found the following:-
The price line is a 2 period SMA
The signal line is a 7 period SMA
The Average line is a 34 period SMA.
The SMAs when placed over my TDI indicator followed it exactly.

Therefore I have made the following 'tweeks':-
I have changed the 7 period SMA to a EMA and changed the 34 SMA to a 50 EMA. (Price seems to react more to the 50 EMA than 34).

Could some kind soul please post a chart from today so that I can compare my indicators.

Thanks
  • #8,891
  • Oct 12, 2012 6:41am Oct 12, 2012 6:41am
Hi guys

I am a newbee.
I have been looking for the correct thread to post my request for help. I hope putting my request on this thread is not misplaced.
I am testing this strategy and want to do some basket trading. For this I would like to manage multiple baskets with specified currency pairs on a single platform.
I have found within this thread a download of Steve Hopwood's MTPM that should be able to do this. However after 2 days of searching, I am getting a little desperate.
Probably it is something straigtforward but I just can't figure it out how to set-up the baskets within MTPM.
Could someone please help?

PS: English is not my native language.

Thanks a whole lot in advance
  • #8,892
  • Oct 12, 2012 7:51am Oct 12, 2012 7:51am
Quoting jokanok
Hi guys

I am a newbee.
I have been looking for the correct thread to post my request for help. I hope putting my request on this thread is not misplaced.
I am testing this strategy and want to do some basket trading. For this I would like to manage multiple baskets with specified currency pairs on a single platform.
I have found within this thread a download of Steve Hopwood's MTPM that should be able to do this. However after 2 days of searching, I am getting a little desperate.
Probably it is something straigtforward but I just can't...
There is a complete thread on the MPTM you seek to know more of, please read it.

You will find the manual there in the first post, here is the link, basket is mentioned on page 5, good luck, you will need it...

Multi-purpose trade management EA
It takes a lot for me to IGNORE you, but you can try.
  • #8,893
  • Oct 12, 2012 8:15am Oct 12, 2012 8:15am
Quoting Erebus
There is a complete thread on the MPTM you seek to know more of, please read it.

You will find the manual there in the first post, here is the link, basket is mentioned on page 5, good luck, you will need it...

Multi-purpose trade management EA
Hi Erebus

Thanks a lot for your quick reply.
Finally I found what I did wrong.
I tried to trade baskets on the basis of trade comment an it all works fine now! MTPM is a great tool8
Good luck to you to ...
  • #8,894
  • Oct 12, 2012 9:29am Oct 12, 2012 9:29am
After a nice trade this am on EUR had a BE on EUR (15 min re-entry failed to follow through) and this +19 on GU, 15 min.
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  • #8,895
  • Oct 12, 2012 3:15pm Oct 12, 2012 3:15pm
I have already posted trades taken earlier this week.....attached are my final 3 trades of the week......the first two are classic TDI crossover trades taken at London Open.....the last is also a TDI crossover trade taken before London close with the TP set just above the support line (which was also a resistance area for the Thursday trade). Instead of the usual 50 pips, I set TP at 30 pips due to the resistance area and lower volume on Friday.
Attached Image (click to enlarge)
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  • #8,896
  • Oct 12, 2012 3:26pm Oct 12, 2012 3:26pm
Quoting Phx62
I have already posted trades taken earlier this week.....attached are my final 3 trades of the week......the first two are classic TDI crossover trades taken at London Open.....the last is also a TDI crossover trade taken before London close with the TP set just above the support line (which was also a resistance area for the Thursday trade). Instead of the usual 50 pips, I set TP at 30 pips due to the resistance area and lower volume on Friday.
inspiring as usual.
thanks a lot for your posts PHX62.
I learn a lot from you every week.
  • #8,897
  • Edited 6:23pm Oct 12, 2012 5:08pm | Edited 6:23pm
Hi phx

i have 2 questions that i would appreciate if you can clarify:

1 - Could you please give some insight about the reasons that usually make you move your take profits for more than the usual 50 pips?

2- When you refer to supply and demand, does it mean that you draw the support and resistance lines from the 4H and daily chart? or is it something different?

Thanks in advance for your help and wisdom

Munir
  • #8,898
  • Oct 12, 2012 9:08pm Oct 12, 2012 9:08pm
Quoting munirpt
Hi phx

i have 2 questions that i would appreciate if you can clarify:

1 - Could you please give some insight about the reasons that usually make you move your take profits for more than the usual 50 pips?

2- When you refer to supply and demand, does it mean that you draw the support and resistance lines from the 4H and daily chart? or is it something different?

Thanks in advance for your help and wisdom

Munir
1. If price moves strongly in the direction of my trade for 35 to 40 pips, I often move my TP another 50 pips, then monitor the trade for pullbacks.
2. I have studied supply & demand but not enough to completely understand it.....yet. Until I understand it better, I start the week by placing support/resistance lines on previous "sore thumb" areas on the weekly, daily, 4 hour and if a very obvious 1 hour area appears....time frames.
Hope this answers your questions.
Continued success to you.
  • #8,899
  • Oct 13, 2012 6:39am Oct 13, 2012 6:39am
Quoting Phx62
1. If price moves strongly in the direction of my trade for 35 to 40 pips, I often move my TP another 50 pips, then monitor the trade for pullbacks.
2. I have studied supply & demand but not enough to completely understand it.....yet. Until I understand it better, I start the week by placing support/resistance lines on previous "sore thumb" areas on the weekly, daily, 4 hour and if a very obvious 1 hour area appears....time frames.
Hope this answers your questions.
Continued success to you.
thanks a lot Phx

your answers definitely will help
  • #8,900
  • Oct 13, 2012 6:45am Oct 13, 2012 6:45am
hi guys

was researching about supply and demand and found this very interesting e-book.


http://www.mediafire.com/view/?p581csqcgm1z3xe

hope that it helps
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