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  • #10,161
  • Feb 5, 2013 3:52pm Feb 5, 2013 3:52pm
Quoting mierzyk
I really appreciate your help. Thankyou. I will not dare to ask all my questions, hopefully I'll find some answers in backtesting. Yet, I cannot resist from asking one regarding 50 line on TDI. I have scanned the whole topic and found some posts regarding 50, only in terms of additional validation of a trade. Eg. when green crosses 50 line, it is an additional confirmation of a trade. Besides that should I expect some abnormal price movement when price is around that 50? Market consolidates, hesitates? Should I treat 50 line just like regular support/resistance?...
When price is consolidating or there is low volume, you will find that the TDI will hang out around the 50 line.
  • #10,162
  • Feb 5, 2013 4:02pm Feb 5, 2013 4:02pm
Quoting TheScorpS
Phx62

I read in one of the compiled books of your posts that to develop the psychology needed for staying in the trade when it moves on our favor specially during draw downs is by exiting the trade when candle color changes

I find my self trying to do so but still finds barriers trying too, when I'm into a trade, I exit when it first draw down and when it reches BE, I close it

Or best case scenario, for example today, entered a trade on EUR/USD , which moved upward fast, my target was set to 50 pips but when price reached 35 to 40 pips and...
Not sure what post you read (there have been a lot of them) but when I do not have a set TP (50 or 100) and am trading as long as price continues in one direction, I try to follow this rule.....stay in the trade until a candle CLOSES a different color....I do use some discretion....if a candle pulls back quickly from a high by more than 20 pips, I may exit and save the pips I already have......lots of screen time and practice....every trade is a little different....
On the exit you made today on EU....there is no problem with that....you can always re-enter when the candle changes color and clears the previous candle....
  • #10,163
  • Feb 5, 2013 10:52pm Feb 5, 2013 10:52pm
Quoting Phx62
Not sure what post you read (there have been a lot of them) but when I do not have a set TP (50 or 100) and am trading as long as price continues in one direction, I try to follow this rule.....stay in the trade until a candle CLOSES a different color....I do use some discretion....if a candle pulls back quickly from a high by more than 20 pips, I may exit and save the pips I already have......lots of screen time and practice....every trade is a little different....
On the exit you made today on EU....there is no problem with that....you can always...
Thanks , I am trying to follow what you mentioned , yesterday price stalled between 35 to 40 pips , but kept falling , that's why I exit, I will try to follow the rules you mentioned, if I had entered on EUR/JPY I would have made almost 90 pips, that pair moved without much draw-down
I Have Learned to Take Some Losses to Make Profits
  • #10,164
  • Feb 5, 2013 11:06pm Feb 5, 2013 11:06pm
Please assist me on this trade that was taken away from the rules of Price Action

I marked some notes on the chart, please have a look and let me know my mistakes and your thoughts are much appreciated
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I Have Learned to Take Some Losses to Make Profits
  • #10,165
  • Feb 6, 2013 12:50am Feb 6, 2013 12:50am
TDI with Market Harmonics and basic Market Structure make trading very exciting....2 trades on the latest CD leg for over 300 pips....exited on the 1st pullback and then re-entered on the next signal.....price has not yet reached D but there is resistance to penetrate.....maybe it will get there, maybe not, but I am out with a "wheelbarrow load of pips" (thanks Big E & dcginc).....expecting price to go in a certain direction and then watching it go there is GREAT....it may not do it every time but that is twice in less than a week!!!!!!
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  • #10,166
  • Feb 6, 2013 2:44am Feb 6, 2013 2:44am
Quoting Phx62
TDI with Market Harmonics and basic Market Structure make trading very exciting....2 trades on the latest CD leg for over 300 pips....exited on the 1st pullback and then re-entered on the next signal.....price has not yet reached D but there is resistance to penetrate.....maybe it will get there, maybe not, but I am out with a "wheelbarrow load of pips" (thanks Big E & dcginc).....expecting price to go in a certain direction and then watching it go there is GREAT....it may not do it every time but that is twice in less than a week!!!!!!
congratulation phx62
  • #10,167
  • Feb 6, 2013 2:51am Feb 6, 2013 2:51am
Quoting Phx62
I took a trade during the Asian session expecting price to move long and went to bed.....the EA closed that one at breakeven....the second candle of London set the high for the day and pulled back.....entered during the 3rd hour of the London session following that pullback below the blue setup candle and cross of the TDI green over red, below the yellow and about to cross the 50 line.....pulled down for 150 pips so I closed it due to the time of day.....price is closing in on the 61.8 fib from the Thursday/Friday move from last week....we will...
hi Phx62

may you please help with the EA you using to mange your trades
Watch me trade Live on YouTube
  • #10,168
  • Feb 6, 2013 3:21am Feb 6, 2013 3:21am
Hi thrax, how did you do with your EurUsd trade? are you still in that trade?



Quoting thrax
Hi, fellow traders,

I am actually in two trades:
1. EURUSD H4,
after price retested previous weeks low it turned up+bullish TDI cross+price above EMA(200) and the next resistance is the prvious week's high, so this is also my TP.

2. GBPJPY H4
this is a countertrend trade, but I considered the divergence quite strong and price turned with bearish TDI cross below the MBL. My SL is above the latst high, TP is above previous week's Fib 61.8 and BRN 145.000.

I will let you know hot it playes out.

take care,
thrax
In GOD We TRUST !!! "REPETITION is the mother of all SKILLS." -Bo Sanchez
  • #10,169
  • Feb 6, 2013 3:29am Feb 6, 2013 3:29am
Thanks to everyone in this thread for d explanation n support.
I am more afraid of 100 sheep led by a lion than 100 lions led by a sheep!
  • #10,170
  • Feb 6, 2013 3:50am Feb 6, 2013 3:50am
Quoting Phx62
TDI with Market Harmonics and basic Market Structure make trading very exciting....2 trades on the latest CD leg for over 300 pips....exited on the 1st pullback and then re-entered on the next signal.....price has not yet reached D but there is resistance to penetrate.....maybe it will get there, maybe not, but I am out with a "wheelbarrow load of pips" (thanks Big E & dcginc).....expecting price to go in a certain direction and then watching it go there is GREAT....it may not do it every time but that is twice in less than a week!!!!!!

Hi PHX62,

A question about your trailing stop, I know that you have mentioned that you usually trail 5 pips bellow previous candle was it the case in +192 pip win or were you using standard 30 to 35 pips trailing stop or you have exited manually?

I trade 4h charts for now and later will descend to 1h and I have used 35 pips + 5 pips buffer for capital protection, and 20 pips bellow previous candle which did not prove good on my last entry of EUR/JPY which was close to your +192 pips entry but my trailing and capital protection had spoiled the whole trade and left me with +20 or so pips on EUR/JPY.

Any suggestions for my trailing and capital protection for 1H and 4H?

Thx
  • #10,171
  • Feb 6, 2013 4:33am Feb 6, 2013 4:33am
Quoting Awin
Hi thrax, how did you do with your EurUsd trade? are you still in that trade?
Yes, I am still in the trade. In most of the casesI do not have time to monitor my trades, so I let them play out. I still consider my entry as valid. About 60 pips drawdown during the trade is totally acceptable in H4, but I am just a beginner.

take care,
thrax
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  • #10,172
  • Feb 6, 2013 4:54am Feb 6, 2013 4:54am
Quoting LazyLobster
nnpra:

You have asked about the PUllback CANDLE. This is a very well documented subject throughout the thread and is clearly stated in the PDF at the beginning of the thread. You have also said that it is unreasonable to read all the posts from the beginning till now. I have a question for you. Why? Why is this unreasonable? You want to learn a method don't you? I have read many complete threads myself and each time is a growing experience where I learn tons. Often the thread is bigger than this one is now. If you are not fluent with english then...
I too am having difficulty understanding pullback candles, would you please also send me a PM with some information ?
  • #10,173
  • Feb 6, 2013 5:32am Feb 6, 2013 5:32am
Quoting lumbco
I too am having difficulty understanding pullback candles, would you please also send me a PM with some information ?
All the answers are in the attachments section of this thread. A Pullback Candle is also known as a PIN BAR (Pinochio Bar). Some info here.

http://www.forexfactory.com/attachme...202012%2019:18

and here

http://www.forexfactory.com/attachme...202012%2019:18

Or

babypips.com
Cut your Losers short and let your Winners run.
  • #10,174
  • Feb 6, 2013 5:45am Feb 6, 2013 5:45am
Quoting sunnym
hi Phx62

may you please help with the EA you using to mange your trades
I see Cave Manager on his charts, you may find it here

http://www.forexfactory.com/showthre...52#post5663652

and with some little effort, search for the manual

It takes a lot for me to IGNORE you, but you can try.
  • #10,175
  • Feb 6, 2013 6:11am Feb 6, 2013 6:11am
Yesterdays trade explanations on the chart. Marked up the 15 min because that is where I take my entries from.

First Trade. TDI coming up from OS almost vertically showing extreme upwards momentum, Div on 15 min, BRN, 38% fib and S&R. CT so moved stop to B/E when price hit 1.3500, Price blew thru 1HR 200 EMA, never in any danger of getting stopped out with this momentum. Target was the 89% Fib.

Second trade. Hidden Divergence on 1 Hr and Reg Divergence on 15 min, TDI cross down from OB 15min. 1Hr TDI outside the Bands S&R Level, 89% Fib and DOuble top on 1Hr and 15 min, very compelling, expected a pull back here. This could be a 123 formation so target is confluence BRN, 38%fib and 1hr 200 ema. HD confirms target.

third trade. NO brainer 123 on 1 Hr and 15min. Off BRN, 38%fib, 1 hr 200ema, Hidden Divergence. TDI cross on 15min and later on 1hr. Target BRN and 100% Expansion


The more reasons you can find to take a trade, the better. Write them down it helps you look for them.
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Cut your Losers short and let your Winners run.
  • #10,176
  • Feb 6, 2013 6:21am Feb 6, 2013 6:21am
Quoting sunnym
hi Phx62

may you please help with the EA you using to mange your trades
Doesn´t anyone look in the attachments section, all this has been done time and time again. This is not just directed at you, but every newbie. LEARN HOW TO USE THE FORUM.


Cave manager
http://www.forexfactory.com/attachme...202012%2016:49


Cave Manager PDF
http://www.forexfactory.com/attachme...202012%2016:46
Cut your Losers short and let your Winners run.
  • #10,177
  • Feb 6, 2013 7:10am Feb 6, 2013 7:10am
Quoting dee50
Yesterdays trade explanations on the chart. Marked up the 15 min because that is where I take my entries from.

First Trade. TDI coming up from OS almost vertically showing extreme upwards momentum, Div on 15 min, BRN, 38% fib and S&R. CT so moved stop to B/E when price hit 1.3500, Price blew thru 1HR 200 EMA, never in any danger of getting stopped out with this momentum. Target was the 89% Fib.

Second trade. Hidden Divergence on 1 Hr and Reg Divergence on 15 min, TDI cross down from OB 15min. 1Hr TDI outside the Bands S&R Level, 89% Fib and...
I hope one day I can view the market this way, entering trades with enough reasons which give confidence and probability that the trade is more likely to work than fail

Thanks for being there for us
I Have Learned to Take Some Losses to Make Profits
  • #10,178
  • Feb 7, 2013 6:12am Feb 7, 2013 6:12am
good signal london open TDI cross more than 100pips today
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  • #10,179
  • Feb 7, 2013 8:44am Feb 7, 2013 8:44am
good profit today +100% on my account
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  • #10,180
  • Feb 7, 2013 8:51am Feb 7, 2013 8:51am
Quoting davson90
good profit today +100% on my account
Good for you and I wish you more pips and success your way

Can you please add your entry reason on the chart, I know TDI crossed is one, but are there any other reasons regarding Price Action that made you took those trades?

Thanks again for posting your journal for today and this month, I find it helpful for us newbies
I Have Learned to Take Some Losses to Make Profits
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