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  • #9,841
  • Jan 16, 2013 5:35am Jan 16, 2013 5:35am
[quote=MidnightRun;6369271]
Quoting dee50
I turned 57 yesterday...
Happy Birthday.
Cut your Losers short and let your Winners run.
  • #9,842
  • Jan 16, 2013 5:54am Jan 16, 2013 5:54am
Quoting thrax
Hi,

What was wrong with this entry?
Is it obvious now? Your long entry was on the last candle to the right.
Attached Image (click to enlarge)
Click to Enlarge Name: Simple reasons.png Size: 19 KB
Cut your Losers short and let your Winners run.
  • #9,843
  • Jan 16, 2013 6:19am Jan 16, 2013 6:19am
Quoting Xhale12
Good charts Phx, but in my limited experience with TDI, buying/selling every cross will leave you with a blown account fairly quickly. Is there some criteria for these trades your taking that I'm missing? Or are you truly just buying/selling every cross of the tdi?
To add to Dees's comments.....I did that exercise on a demo account because I was not sure what the results would be.....but yes, I truly just bought and sold every cross....but like Dee stated, I can't turn off the knowledge of price action, S/R, MA's, etc.....that obviously did influence TP, SL and exits. Some of those trades I would have passed on, trading live. The object was to show that simple trading and using the TDI can be beneficial to any trader....even one who would blindly take every cross of the TDI, WITH AN ENTRY ON THE 1ST OR 2ND CANDLE AND A CROSS OF TDI LINES.
  • #9,844
  • Jan 16, 2013 6:54am Jan 16, 2013 6:54am
I am done for the day. 2 trades both taken on the 15 min chart. Shallow Cross of the TDI several candles back. First trade was a 123 formed below a S&R level and a double bottom. Waited for price to break thru the S&R level at 1.3280. PA gained momentum so stayed in the trade and targeted the 200 ema( 1hr 50 ema) TP following bounce from 200ema. +31 pips

2nd trade. Bounce trade from 200 ema and TDI cross down after touching the 68 level and coming back inside the volatility bands. Good angle on the green. Red and Green both turned down showing good momentum. My other MAs turned down confirming momentum. TP was + 50 pips just above BRN and the earlier Day low. I do not trade spot forex so I have marked these up on Metatrader so that you can more easily compare charts. Hope it helps.
Attached Image (click to enlarge)
Click to Enlarge Name: 16 01 +31 +50.png Size: 33 KB
Cut your Losers short and let your Winners run.
  • #9,845
  • Jan 16, 2013 6:57am Jan 16, 2013 6:57am
DEE

Another great (re-) post

Thanks


Now back to analysing and studying.


Quoting dee50
I did a similar exercise sometime ago on the eurusd and came to the same conclusion as PHx62. There is a post with a chart for the hourly some where. Some one then made the same comments as you. Naturally once you have learnt to trade it is difficult to turn off the knowledge so when doing an exercise like this it is difficult to trade like a trading zombie, but, this does show that with a little trading knowledge it is possible to trade the TDI in its simplest interpretation.

Found the post. http://www.forexfactory.com/showthre...35#post6159435


And...
  • #9,846
  • Jan 16, 2013 7:19am Jan 16, 2013 7:19am
Thanks Phx62 & Dee50- I know it is time consuming marking up all the charts- But they really help.

If I could be so bold as to make a suggestion to any trader, experienced or not, that is new to this system: Choose 1 or 2 of the best traders on the site and study their charts very carefully (I will normally initially avoid others' posts because of info overload & just enough difference in their style to cause confusion). What I mean is look at everything on your mentors' charts and every word of their posts. I know I find myself reading a post and subconsciously choosing just the info that I already know or already agreed with: It is the information that you are not as comfortable with that will make you a better trader. Try this: read about 3 pages worth of Phx & Dee's posts. Now wait a couple of hours and review mentally what you think you have learned. Now go back and re-read those same pages and see how much more valuable info. you over looked or mentally chose to ignore. This simple exercise really works for me.
gmcc
  • #9,847
  • Jan 16, 2013 8:00am Jan 16, 2013 8:00am
Quoting dee50
Is it obvious now? Your long entry was on the last candle to the right.
Hi, dee50,

now I see, I was buying right into resistance...+div.
What a stupid mistake! But lesson learned.

take care,
thrax
  • #9,848
  • Jan 16, 2013 8:06am Jan 16, 2013 8:06am
Quoting Phx62
Experience mostly, from many hours of watching PA and becoming familiar with how the EU price moves.....I closely monitor how quickly PA is moving in my direction. If I am up 35 or 40 pips and price is moving quickly, I will usually move my TP from 50 to 100 and continue to monitor. If price is moving slowly, I will usually just take the +50. If price stalls or reverses 20 to 25 pips, I will usually exit. If PA is still moving strongly as it gets closer to the 100 TP, I sometimes remove my TP completely and let the EA take me out as price reverses...
hi Phx, i am watching your old to learn how you traded with such amazing successful
Just a quick question, (5 pips below the previous candle) -> previous candle is APB or normal Japanese candle? Thanks.
  • #9,849
  • Jan 16, 2013 8:15am Jan 16, 2013 8:15am
3 EJ H1 trades today.....1. Waited for bounce away from 200EMA....targeted yesterday's low and the purple resistance line. 2. Pullback candle and change of candle color...traded back to 200EMA. 3. Bounce off the 200EMA again, TDI green line bouncing off the red and yellow, candle changed color....exited with +50....may go higher but I have business to attend to today.
I have had several people PM and ask why I am trading EJ now instead of EU.....the reason is that EJ has an ADR of 50 to 100 pips more per day than EU right now.
Attached Image (click to enlarge)
Click to Enlarge Name: 2013.1.16 ej h1.gif Size: 34 KB
  • #9,850
  • Jan 16, 2013 8:18am Jan 16, 2013 8:18am
Quoting shakeyiu
hi Phx, i am watching your old to learn how you traded with such amazing successful
Just a quick question, (5 pips below the previous candle) -> previous candle is APB or normal Japanese candle? Thanks.
The EA places the stop 5 pips below the previous JAPANESE candle.
  • #9,851
  • Jan 16, 2013 8:33am Jan 16, 2013 8:33am
Quoting T999
OUT -800 usd damn -20% on all account
T999. For me this position does not look like a good setup. Eery cross of TDI is not a good setup.

you have to remember that one basic rule is 'Trend is the Friend". If you have taken such a position following the trend you would have won. When you take a counter trend position you have to look for other confirmations like, strong S/R and PA confirmation to support your decision. At the same time, unless thare is a very strong signals like double top/bottom, pin bar or hanging man confirmation, you should be ready to pull the trigger to close your position at any moment. In my case I would never enter such trade. I suggest you do small trades first like 10 usd mini lots first until you get at least 70% win ratio. Then it is easy to learn your mistakes and can afford to suffer the loss.

PA confirmation is very very very important when you are entering against the trend.

Learn how to read candle stick patterns.
  • #9,852
  • Jan 16, 2013 8:54am Jan 16, 2013 8:54am
Quoting thrax
Hi,

I entered yesterday long EU on H1 TF after the bullish TDI cross on the 2nd bullish HA candle. The price was above ema(200) and ema(10), as well. Even then my SL was hit. What was wrong with this entry? I know losses are also part of trading but I want to understand what could have been the problem? The TDI cross was below the TDI MBL which was slightly heading down. I do nond anything else. Any help appreciated!

Phx62, you are amazing!

take care,
thrax

When you enter you should wait until the previous bar closes inside of 4 EMA for a long position. At the same times check 4hr bar chart to identify the correct side (Long/short) to trade. I can see that you have entered below a resistance. In that case if the bar cannot break the resistance you should close the trade.
  • #9,853
  • Edited 9:29am Jan 16, 2013 9:05am | Edited 9:29am
PhX, Dee, Anyone?

Do you guys have an Indicator that draws the vertical lines at the TDI green/red cross, or are they drawn manually, please?

I have the Xaphod one that draws arrows (see below).

R

Quoting Phx62
The EA places the stop 5 pips below the previous JAPANESE candle.
Attached Image
  • #9,854
  • Jan 16, 2013 11:29am Jan 16, 2013 11:29am
Quoting Phx62
3 EJ H1 trades today.....1. Waited for bounce away from 200EMA....targeted yesterday's low and the purple resistance line. 2. Pullback candle and change of candle color...traded back to 200EMA. 3. Bounce off the 200EMA again, TDI green line bouncing off the red and yellow, candle changed color....exited with +50....may go higher but I have business to attend to today.
I have had several people PM and ask why I am trading EJ now instead of EU.....the reason is that EJ has an ADR of 50 to 100 pips more per day than EU right now.

Hi Phx62 could you share your EMAs indicator with me ? i tried setting up mine from getting in to fake traders... but it's still not like yours ? like your can show 15min ema in h1 chart

thank you..
  • #9,855
  • Jan 16, 2013 12:01pm Jan 16, 2013 12:01pm
Hi I add also my appeal to PHX62 pls if you don't mind share your template with indies as a package. Thanks a lot.
  • #9,856
  • Edited 11:57pm Jan 16, 2013 5:29pm | Edited 11:57pm
Quoting T999
Hi Phx62 could you share your EMAs indicator with me ? i tried setting up mine from getting in to fake traders... but it's still not like yours ? like your can show 15min ema in h1 chart

thank you..
I downloaded the EMA that changes colors from the Pro Trader Network....the link to that site is in post 1 of this thread. You can great insight on how to trade by studying that site.
The M15 EMA on my chart is just a exponentinal moving average set to 50 (200 divided by 4 = 50 and there are 4-15 minute periods in one hour).
To add a H4 200 EMA to your H1 chart....make it an 800 EMA (4 times 200 = 800...there are 4 one hour periods in four hours).
My 200 EMA's are applied to Typical Price.

You need to do some work on your own and discover that indicators are not the answer to trading....price action is the key....develop a trading plan that works for you using whatever tools or indicators YOU need to give you an edge in the market.....copying my indicators and my template will not really help you unless your trading psychology is the same as mine, which very rarely happens.....
  • #9,857
  • Jan 16, 2013 5:30pm Jan 16, 2013 5:30pm
Quoting rorieu
PhX, Dee, Anyone?

Do you guys have an Indicator that draws the vertical lines at the TDI green/red cross, or are they drawn manually, please?

I have the Xaphod one that draws arrows (see below).

R
The vertical lines on my chart, I place by hand....no indicator.
  • #9,858
  • Jan 16, 2013 6:28pm Jan 16, 2013 6:28pm
[quote=rorieu;6369934]PhX, Dee, Anyone?

Do you guys have an Indicator that draws the vertical lines at the TDI green/red cross, or are they drawn manually, please?

I have the Xaphod one that draws arrows (see below).


Hi Rorieu,

This is another version of TDI, that shows vertical lines, arrows
and alerts. Price line is abit smoother.
Tweak it to suit your style.
Hope it helps.
Have a good day.

Steve.
[ATTACH]
Attached File(s)
File Type: ex4 TDI rsx based - smoothed & alerts+lines2 - LE 1.ex4   24 KB | 568 downloads
[/ATTACH]
Attached File(s)
File Type: mq4 TDI rsx based - smoothed & alerts+lines2 - LE 1.mq4   17 KB | 477 downloads
  • #9,859
  • Edited 9:29pm Jan 16, 2013 9:04pm | Edited 9:29pm
Quoting Phx62
...I

You need to do some work on your own and discover that indicators are not the answer to trading....price action is the key....develop a trading plan that works for you using whatever tools or indicators YOU need to give you an edge in the market.....copying my indicators and my template will not really help you unless your trading psychological is the same as mine, which very rarely happens.....
Brilliant post and I want highlight this above to read.

No two traders trading the same method will have the same results.
It is not about the indicators or having better indicators. These are all technical.
The method is only 10% maybe less. There is a lot more under which we do not see.
Like the iceberg which sank the Titanic.
You need to consider your money management strategy, position sizing, trade exit management, etc.
The other big part is how you manage your trading psychology. This is the toughest part and there is one solution fit all. It is an individual thing. It is about your mental fitness as a trader.

Exactly what Phx62 shared here.
Attached Image
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #9,860
  • Jan 16, 2013 9:31pm Jan 16, 2013 9:31pm
[quote=itrade44;6371055]
Quoting rorieu
PhX, Dee, Anyone?

Do you guys have an Indicator that draws the vertical lines at the TDI green/red cross, or are they drawn manually, please?

I have the Xaphod one that draws arrows (see below).


Hi Rorieu,

This is another version of TDI, that shows vertical lines, arrows
and alerts. Price line is abit smoother.
Tweak it to suit your style.
Hope it helps.
Have a good day.

Steve.
[ATTACH]Attachment [/ATTACH]
Hi,

Only by following and using Price Action will put you in the market ahead of the crowd.
Learn CandleStick patterns and interpret the market sentiments.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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