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Trading Made Simple

  • #15,821
  • Mar 6, 2013 11:38pm Mar 6, 2013 11:38pm
TDI RT or TDI Realtime:

Quoting Rion
Thanks. Where I can learn more information on the TDI rt indicator? What signals it shows.
The TDI indicator does not give any signal if you are looking for trade signal.
TDI is a hybrid indciator base on the price Relative Strength Index or RSI.
If you know and understand what the RSI does, then it should be used as a tool to read the price action that already happended.
Buyt only back-tetsting will help you learn and practice will develop that 'third eye' which is essential to be a great trader.

The TDI RT can be downloaded at this thread: post#1

http://www.forexfactory.com/showthread.php?t=327972

Trade Well.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #15,822
  • Mar 6, 2013 11:42pm Mar 6, 2013 11:42pm
Quoting emmanuel7788
Hi Fame...,

Just a simple quick filter as check each time before we make a trade decision in the H4 timeframe, just take a look at the W candles, then the D candle.

Do not trade against the W and D candles, this will keep your probability 50% above all others.

This is Price Action trading, the H4 TDI is just your tool to help you in trade decision.

Hope this help.

Regards,
Hi emmanual,

You are another very valuable contributor to this thread....so thank you very much for sharing your experience and knowledge.

As could be seen by my previous post addressed to snarlyjack it should be obvious that I am still struggling with using higher TF's as a filter or indicator of trend with the goal of increasing my probability of success.

So, I would appreciate it very much if you could elaborate a bit more about what you exactly mean with "......just take a look at the W candles, then the D candle. Do not trade against the W and D candles..." Does this means you look at the color or direction (bull or bear candle) of the last candle or is there more to it?

Thank you
  • #15,823
  • Mar 6, 2013 11:54pm Mar 6, 2013 11:54pm
Probably strange question, how you manage to watch for so many currency pairs?
Hi, everybody. Forgive if I write with mistakes.
  • #15,824
  • Mar 6, 2013 11:59pm Mar 6, 2013 11:59pm
Because we are using a really simple system which allows us to scan and take the best set-ups from multiple pairs

Quoting Rion
Probably strange question, how you manage to watch for so many currency pairs?
  • #15,825
  • Mar 7, 2013 12:03am Mar 7, 2013 12:03am
What currency pairs you will advise? I trade on H1 tf. I it is simple still the beginner
Hi, everybody. Forgive if I write with mistakes.
  • #15,826
  • Edited 12:33am Mar 7, 2013 12:05am | Edited 12:33am
Quoting Rion
Probably strange question, how you manage to watch for so many currency pairs?
I only keep my eyes on five(5) currencies - AUD, EUR, GBP, JPY and USD.
After 5 years, it becomes easier with some good trading tools.
Your car' dashboard is great when it shows you some many things about your car engine working condition. When a light pops up when it should not, it alerts you to sometinhgs amiss.
So I have dashboard in my forex toolbox.
That make my life as a trader much easier and I have work life balance.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #15,827
  • Mar 7, 2013 12:11am Mar 7, 2013 12:11am
Ok...here we are at the top of the hour (11:00 p.m. Montana time).
The Frankfurt market just opened and London market open's in a hour (12:00 a.m.)
The big news today will be the U.S. unemployment claims. Can and will move the market's!!!

W = weekly chart
D = daily chart
4 hour chart
1 hour chart
30 minute chart
15 minute chart
5 minute chart
1 minute chart

To trade with the trend ( up the % of success) trade in line with the weekly and daily.
When the 4 hour chart is moving in line with the daily chart your odd's of success increase
greatly and your risk is reduced. In other words, less risk, and potential for greater rewards!

Put on your thinking caps...

snarlyjack
  • #15,828
  • Mar 7, 2013 12:23am Mar 7, 2013 12:23am
Quoting snarlyjack
Ok...here we are at the top of the hour (11:00 p.m. Montana time).
The Frankfurt market just opened and London market open's in a hour (12:00 a.m.)
The big news today will be the U.S. unemployment claims. Can and will move the market's!!!
....

Put on your thinking caps...

snarlyjack

I like this one ... "Put on your thinking caps"...very much, it reminds me of DeBono teaching.

I put on all 6 thinking hats when I trade or rather I switch hats each time the market ticks and one H4 bar closes.
Attached Image (click to enlarge)
Click to Enlarge Name: Six Thinking Hats.png Size: 437 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #15,829
  • Mar 7, 2013 12:29am Mar 7, 2013 12:29am
Quoting boerseun
Hi emmanual,

...
So, I would appreciate it very much if you could elaborate a bit more about what you exactly mean with "......just take a look at the W candles, then the D candle. Do not trade against the W and D candles..." Does this means you look at the color or direction (bull or bear candle) of the last candle or is there more to it?

Thank you
For practice, do this little exercise:

Use EURUSD chart, we are trading H4, right? so we can't be scalpers, right?

Look at EURUSD weekly candles, previous weeks 2 huge Red candles.
Look at yesterday's Day candle, big Red candle,
so today, I will not want to trade against Red D and W candles, right?
Any greenie appears on H1 and H4 I look for SELL high!

That's my LOGIC.... that is BLUE hat thinking.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #15,830
  • Mar 7, 2013 12:35am Mar 7, 2013 12:35am
Quoting emmanuel7788
For practice, do this little exercise:

Use EURUSD chart, we are trading H4, right? so we can't be scalpers, right?

Look at EURUSD weekly candles, previous weeks 2 huge Red candles.
Look at yesterday's Day candle, big Red candle,
so today, I will not want to trade against Red D and W candles, right?
Any greenie appears on H1 and H4 I look for SELL high!

That's my LOGIC.... that is BLUE hat thinking.

You are right but if there is a tendency turn, we will lose many points?
Hi, everybody. Forgive if I write with mistakes.
  • #15,831
  • Mar 7, 2013 12:41am Mar 7, 2013 12:41am
Quoting emmanuel7788
For practice, do this little exercise:

Use EURUSD chart, we are trading H4, right? so we can't be scalpers, right?

Look at EURUSD weekly candles, previous weeks 2 huge Red candles.
Look at yesterday's Day candle, big Red candle,
so today, I will not want to trade against Red D and W candles, right?
Any greenie appears on H1 and H4 I look for SELL high!

That's my LOGIC.... that is BLUE hat thinking.

Thanks emmanuel,

Its these gold nuggets of knowledge which like pieces of the puzzle are starting to fall into place for me. I am starting to see the bigger overall picture.
  • #15,832
  • Mar 7, 2013 12:42am Mar 7, 2013 12:42am
Dr Emmanuel, looking on daily AUDUSD, can we say,
red yesterday candle was continuation move upword after revers on a pin bar, then move lost momentum and start going down, and todays greeen candle is retracemet of downward move and propably price continue movig down...?
Attached Image (click to enlarge)
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JacekPreserve Precious Capital
  • #15,833
  • Mar 7, 2013 12:44am Mar 7, 2013 12:44am
Quoting Rion
You are right but if there is a tendency turn, we will lose many points?

I am a swing trader and I trade higher probability trade setups.
I don't try to pick tops and bottoms. I don;t have the skills for that kind of trading.
When it does turn around, I will be right there waiting for that turn to be confirmed.


Inserted Video


Enjoy the waiting!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #15,834
  • Mar 7, 2013 12:52am Mar 7, 2013 12:52am
Quoting Jackub
Dr Emmanuel, looking on daily AUDUSD, can we say,
red yesterday candle was continuation move upword after revers on a pin bar, then move lost momentum and start going down, and todays greeen candle is retracemet of downward move and propably price continue movig down...?
me not a doctor. I failed med school entrance and end up an engineer.
What is AU market type?
I see a wide ranging down flow. So I trade the weekly swings ups and swing downs.
I an a bear, so I wait upstream for the salmons to come to me. One D pin bar only tell me the salmons want to swim upstream.
When all the buyers exhaust themsleves, that my feeding time.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #15,835
  • Mar 7, 2013 12:56am Mar 7, 2013 12:56am
Quoting emmanuel7788
me not a doctor. I failed med school entrance and end up an engineer.
What is AU market type?
I see a wide ranging down flow. So I trade the weekly swings ups and swing downs.
I an a bear, so I wait upstream for the salmons to come to me. One D pin bar only tell me the salmons want to swim upstream.
When all the buyers exhaust themsleves, that my feeding time.
Does not matter if you are doctor or engineer, the matter is to ask right questions, mine was not a proper ones....
Thanks you Emmanuel
JacekPreserve Precious Capital
  • #15,836
  • Mar 7, 2013 1:27am Mar 7, 2013 1:27am
help how to filter such signals ?
Attached Image (click to enlarge)
Click to Enlarge Name: 556.png Size: 52 KB
Hi, everybody. Forgive if I write with mistakes.
  • #15,837
  • Mar 7, 2013 1:42am Mar 7, 2013 1:42am
Quoting Jackub
Does not matter if you are doctor or engineer, the matter is to ask right questions, mine was not a proper ones....
Thanks you Emmanuel
Two replies:

 

  1. To me it matters that emmanuel is an engineer...when engineers speak I always listen. Just joking...its just always nice to come across a fellow engineer.
  2. Jackub, never think your questions are not proper ones just because the answer may differ from your own assessment of the particular situation. Your question led to a excellent reply/ answer which answered my previous question it yet another manner which give me yet another perspective.

Cheers

  • #15,838
  • Mar 7, 2013 1:47am Mar 7, 2013 1:47am
Rion,

It's getting late for me (my bedtime). Anyway,
trade with the trend and the London market. The late N/Y session
and Asia session are not very volatile.

Tks

snarlyjack
  • #15,839
  • Mar 7, 2013 1:49am Mar 7, 2013 1:49am
Quoting Rion
help how to filter such signals ?
you chose the worst week in the calendar year to trade.
The SM started their holidays in that week and liquidity is low.
If I die die must trade, I follow the prev weeks trend and look for buy only, buy the dips.
where is the support for that week 52?
127% is the clue since we are on H4.

I love back-testing because highsight is perfect 20/20 vision.
But when we back-tests, we are programming our brains to look for repeated things.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #15,840
  • Mar 7, 2013 1:51am Mar 7, 2013 1:51am
Quoting Rion
help how to filter such signals ?
sorry emmanuel im replyin to this
I use a 60ema on a 4H chart . Half of the counter trend fakee tdi crosses are eliminated :-)
As snarlyjack stated few days back , he looks at the daily chart to determine trend .
Im not sure how emmanuel avoids those fakes.
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