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  • #9,941
  • Jan 23, 2013 11:52am Jan 23, 2013 11:52am
Quoting Phx62
EJ H1 trades taken today....TP on the first trade was moved to 100 but price reversed....exited with +67....second trade taken a little late but TDI had already crossed green over red and was about to cross yellow.
Hello Phx62,

I see you don't use a small period ema, or "price ema", i.e. 5 sma, or a 10,13, 21 ema.

Any reason? Have you tried any of those?

Prosperous regards,

Thanks
  • #9,942
  • Jan 23, 2013 1:40pm Jan 23, 2013 1:40pm
Quoting IvanNC
I got a question about entries. You wait for TDI to cross, or you wait for it to cross and that candle closes ? . I mean, you wait for candle close to enter? or you just need to see a cross? ....
When I learned the Trading Made Simple system, the rule was to wait for a change of candle color and a TDI cross to enter....that TDI cross would usually occur on the first or second candle of a different color. After hundred hours of chart study and learning more about price action (as addressed on this thread by X-Man), I found that entry could be successfully made before the TDI crossed, in many instances. For newbies, the original rules of TMS are simple to follow and keep you out of lots of bad trades.....as you gain more experience and become familiar with price action, trading psycology, market volume during certain times of the day, market harmonics and the use of tools like EMA's, fibs, 123 patterns, divergence, candlestick patterns, etc....entries begin to be made based on what you see or read on the chart and the TDI then becomes a confirmation tool for your trade.
  • #9,943
  • Jan 23, 2013 1:44pm Jan 23, 2013 1:44pm
Quoting fxtrade13
Hello Phx62,

I see you don't use a small period ema, or "price ema", i.e. 5 sma, or a 10,13, 21 ema.

Any reason? Have you tried any of those?

Prosperous regards,

Thanks
I have tried the smaller MA's.....I found they just cluttered up my chart and gave me "analysis paralysis". Using MTF 200 EMA's work best for me to give me trend direction and sometimes S/R areas. Smaller MA's work for some people but I didn't get much benefit from them.
  • #9,944
  • Jan 23, 2013 1:53pm Jan 23, 2013 1:53pm
hello phx62, my question is out of the trade, why are you out at 67 pips, tells you what element out ?
I find it hard to manage the out..
I thought when the price move of 20 pips , you ride stop in your entry point and then once close to your target, a trailing stop just 2 pips below the candle ?
  • #9,945
  • Jan 23, 2013 2:09pm Jan 23, 2013 2:09pm
Quoting thomi
hello phx62, my question is out of the trade, why are you out at 67 pips, tells you what element out ?
I find it hard to manage the out..
I thought when the price move of 20 pips , you ride stop in your entry point and then once close to your target, a trailing stop just 2 pips below the candle ?
The EA trailing stop 3 pips behind the previous candle is my emergency stop, for when I am not monitoring the trade and price reverses. I exited the trade manually at 67 pips as the candle closing price pulled back above the candle open price.....when that happened I determined that the bears appeared to be exhausted (price had pulled back 25 pips) and price probably would not continue to my 100 pip TP, so I exited with what I could. I also was aware that the London session was about to begin and many times price will reverse at, or just prior to the LO.
  • #9,946
  • Jan 23, 2013 2:11pm Jan 23, 2013 2:11pm
Quoting Phx62
When I learned the Trading Made Simple system, the rule was to wait for a change of candle color and a TDI cross to enter....that TDI cross would usually occur on the first or second candle of a different color. After hundred hours of chart study and learning more about price action (as addressed on this thread by X-Man), I found that entry could be successfully made before the TDI crossed, in many instances. For newbies, the original rules of TMS are simple to follow and keep you out of lots of bad trades.....as you gain more experience and become...
thank you, that helps a lot
  • #9,947
  • Jan 23, 2013 7:05pm Jan 23, 2013 7:05pm
Quoting Phx62
1. First trade....
a. because of the time of day (with London about to open) I would not have considered a long unless the LO candle confirmed a continuation of the first 5 candles.
b. My trading plan is based on the TMS system and most trades are taken on the first or second candle that changes color, following a set-up candle....as you stated there were 5 blue candles just before LO so I would have to see a reversal and then a continuation of the original trend to enter long. All four of the trades were taken following a pullback candle....Trade...
Thanks for detailed information, sure it answer question, yes following your chart and explanation along with Dee has changed the way I trade

My chart is becoming better and easier to look at and makes more logic now trying to replicate yours with everything there with reasons

I really appreciate your huge effort that you and Dee are putting together into this thread, your are making us a lot better traders
I Have Learned to Take Some Losses to Make Profits
  • #9,948
  • Jan 23, 2013 7:29pm Jan 23, 2013 7:29pm
Quoting MidnightRun
Dee, what settings do you have for your stochastics (exponential, simple, high/low, close) - the reason I am asking is that there is no divergence in my stoch. Thanks.
Thanks Dee for continues explanation of 123, this how things will be clearer and easy for us to spot in the market, your continues explanation of 123 and divergence helps me tremendously, yes I read and watched a lot of videos, but your explanation are real market and lives 123 and divergence that I get to touch everyday in the trading with this strategy

Please look at the chat below , see if my entry based on the 123 you posted, is it correct to enter here or earlier or later?
Attached Image (click to enlarge)
Click to Enlarge Name: 1-24-2013 4-17-04 AM.jpg Size: 82 KB
I Have Learned to Take Some Losses to Make Profits
  • #9,949
  • Jan 23, 2013 10:31pm Jan 23, 2013 10:31pm
Nice little 50 pip EJ Asian session trade to start the day as price broke through the 200 EMA and the 50 EMA (M15 200) and then a break of yesterdays high..........off to get a couple of hours sleep before London.....
Attached Image (click to enlarge)
Click to Enlarge Name: 2013.1.24-1 ej h1.gif Size: 35 KB
  • #9,950
  • Jan 24, 2013 3:49am Jan 24, 2013 3:49am
Quoting TheScorpS
Thanks Dee for continues explanation of 123, this how things will be clearer and easy for us to spot in the market, your continues explanation of 123 and divergence helps me tremendously, yes I read and watched a lot of videos, but your explanation are real market and lives 123 and divergence that I get to touch everyday in the trading with this strategy

Please look at the chat below , see if my entry based on the 123 you posted, is it correct to enter here or earlier or later?
That is the text book entry. But as price did bounce from an S&R rejection level you could have taken an earlier entry. But, I stress, this is just a matter of risk tolerance.
Attached Image
Cut your Losers short and let your Winners run.
  • #9,951
  • Edited 4:48am Jan 24, 2013 3:56am | Edited 4:48am
Quoting gigicualex
In case we have something like below which divergence is good to take in consideration?
I have both a regular Bearish and a hidden bullish divergences.
Both divergences are valid. However, Regular divergence usually signals a change in trend. Hidden divergence usually signals a pullback within a trend.
Attached Image (click to enlarge)
Click to Enlarge Name: divergence.png Size: 41 KB
Cut your Losers short and let your Winners run.
  • #9,952
  • Jan 24, 2013 4:33am Jan 24, 2013 4:33am
Quoting Phx62
Nice little 50 pip EJ Asian session trade to start the day as price broke through the 200 EMA and the 50 EMA (M15 200) and then a break of yesterdays high..........off to get a couple of hours sleep before London.....
hello Phx62,
can you show me where i can find indicators that you used in your chart and can you show me the way you trade? i mean how you compile TMS and XMAN S3?
thank you very much!
  • #9,953
  • Jan 24, 2013 4:59am Jan 24, 2013 4:59am
Quoting dee50
That is the text book entry. But as price did bounce from an S&R rejection level you could have taken an earlier entry. But, I stress, this is just a matter of risk tolerance.
Thanks Dee

I'm trying to figure my entry on the 123 setup a bit earlier if bounce of Support and Resistance areas or Round numbers
I Have Learned to Take Some Losses to Make Profits
  • #9,954
  • Jan 24, 2013 5:10am Jan 24, 2013 5:10am
Quoting myhong
hello Phx62,
can you show me where i can find indicators that you used in your chart and can you show me the way you trade? i mean how you compile TMS and XMAN S3?
thank you very much!
Hello MyHong. Before making requests for templates, indicators etc, please click on the paper clip symbol (next to "reply to thread") click on "hide images" there you will find every thing that has been posted. If you want to know specifics about a contributor like PHx62, click on his avatar in one of his posts. This opens the profile window. top LH you will see eg. "381 Posts" click on this. On the next page click on "advanced search options" then you have a choice, to "show attachments with posts" or "Only include posts with attachments"

For you this is just a simple request for information, for contributors it is the 20th or 30th time that this request has been made.
Cut your Losers short and let your Winners run.
  • #9,955
  • Jan 24, 2013 5:25am Jan 24, 2013 5:25am
Pennant on Daily 4 HR and 1Hr. Impossible to tell when it is going to Break.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Pennant 4Hr.png Size: 28 KB
Click to Enlarge Name: Pennant 1 hr.png Size: 25 KB
Cut your Losers short and let your Winners run.
  • #9,956
  • Jan 24, 2013 5:30am Jan 24, 2013 5:30am
Quoting X-Man
Well i trade everyday 1H only E/U
and yes i trade only 4H for my swing trading method with the daily TF set.
I traded this way since i started my trading career and my 1000+ pips a month.
I'm a full time trader and do not do any other sort of work.

Hi Everyone,
I'm a bit late to the thread but its never to late to learn, planning on full time with this system so a big hi to everyone.

I'm starting to read up the earlier threads and checking the latest ones as well but there is a difference in timeframes and time of trades that people who I guess are well versed in this are using. At the beginning its 1 hr (I'm going to park the 4hr for now) and no trade before LO, but its all 15 min charts and plenty of trades before LO in the last few pages.

My Q, has this evolved/been fine tuned for better results somewhere.

My thanks

PG, a new X man :-)
  • #9,957
  • Jan 24, 2013 6:15am Jan 24, 2013 6:15am
Quoting pgtips
Hi Everyone,
I'm a bit late to the thread but its never to late to learn, planning on full time with this system so a big hi to everyone.

I'm starting to read up the earlier threads and checking the latest ones as well but there is a difference in timeframes and time of trades that people who I guess are well versed in this are using. At the beginning its 1 hr (I'm going to park the 4hr for now) and no trade before LO, but its all 15 min charts and plenty of trades before LO in the last few pages.

My Q, has this evolved/been fine tuned for...
Stick with the 1 hr to start off with. The 15 min charts that you see are used primarily to fine tune the entries from the 1 hr signals. Concentrate on PHx62 posts he is the undefeated champion of the 1 Hr and has been trading this method sucessfully much longer than anyone. at the moment EUR/JPY pre LO is yielding good results, hence the pre LO trades that you see.
Cut your Losers short and let your Winners run.
  • #9,958
  • Edited 9:53am Jan 24, 2013 6:30am | Edited 9:53am
Quoting dee50
Pennant on Daily 4 HR and 1Hr. Impossible to tell when it is going to Break.
I believe that statistically pennants and triangle patterns are more often trend continuation signals ..........
but what do you think on this one ?
edit -- and so it was , for a while
edit --wow, made adr - but certainly took a long time , i ran out of patience ,
  • #9,959
  • Jan 24, 2013 6:55am Jan 24, 2013 6:55am
Quoting robuk
I believe that statistically pennants and triangle patterns are more often trend continuation signals ..........
but what do you think on this one ?
I agree, However, check out the prior swing on this 4 hr chart. As to what will happen with this current one?? Above is a major resistance level, below is nothing but 200ema and BRNs until 1.3120. If you wanted to you could see other areas of S&R in between, in other words, "if it does this then that, if it does that then this etc etc etc etc."

EDIT
Would help if I attached the chart. DUH!!!
Attached Image (click to enlarge)
Click to Enlarge Name: WTF.png Size: 30 KB
Cut your Losers short and let your Winners run.
  • #9,960
  • Jan 24, 2013 6:58am Jan 24, 2013 6:58am
In the mean time while we are twiddling our thumbs and dreaming of great riches, here is another short PDF.
Attached File(s)
File Type: pdf how to trade chart patterns.pdf   206 KB | 860 downloads
Cut your Losers short and let your Winners run.
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