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Trading Made Simple

  • #16,461
  • Mar 25, 2013 10:19am Mar 25, 2013 10:19am
Quoting emmanuel7788
if you want dead accuracy of trhe TDi PL vs TSL, read the correspondning TDI Pl and TSL prices in the Data Window.

EOD for me, my bedtime now.
Thank you for all your help today its much appreciated...

BTW I ended the eurusd out of fear against my better judgement, should have stayed in. Two lessons learnt.

1. Sometimes you can be right if you read the charts correctly.
2. Never jump in late get in at the start of the candle momentum.

Night.
  • #16,462
  • Mar 25, 2013 10:55am Mar 25, 2013 10:55am
Quoting emmanuel7788
How to catch a 'falling knife' trade?

Who wants to learn how to catch a 'falling knife' trade?

Let me see 50 post yes and I shall share this.

Offer valid till NY close today... Patience!
Big One Yes Please
  • #16,463
  • Mar 25, 2013 10:59am Mar 25, 2013 10:59am
Quoting emmanuel7788
Hi frank,


I trade differently using Candlestick Patterns as my trade setups and Price Action with Support and Resistance. The TDI is there for confirmation.
I am also a breakout trader so you see many of my trade are based on price level breakout. If you follow some of my trades posted, I get into the market before the TDI crosss or HA change colour.

Today EU trade is an example how I got my entry using CS pattern at S&R. What is more important is also how I manage my trades for maximum run.

Going forward, I try post some of my intraday...
Hi emmanuel

Impressive..you have replied my query before I put that ahead you.Actually wanted to know about your CS Pattern point of view.Entry on posted chart is clear.

Coming points in mind 1)"What is more important is also how I manage my trades for maximum run" how did you manage this entry to this length? 2) exit signal for you in this entry (support/resistance level?)?

very helpful as usual

Thanks
  • #16,464
  • Mar 25, 2013 11:05am Mar 25, 2013 11:05am
Quoting adamjhdavis
Thank you for all your help today its much appreciated...

BTW I ended the eurusd out of fear against my better judgement, should have stayed in. Two lessons learnt.

1. Sometimes you can be right if you read the charts correctly.
2. Never jump in late get in at the start of the candle momentum.

Night.
Hello adamjhdavis

what is TDI PL and TSL prices in the Data Window?

Thanks in advance
  • #16,465
  • Mar 25, 2013 11:23am Mar 25, 2013 11:23am
Quoting frank.david
Hello adamjhdavis

what is TDI PL and TSL prices in the Data Window?

Thanks in advance
Hi Frank,

TBH I have managed to find them in mt4 but I don't know how to interpret them.
Maybe emmanuel will be able to answer tomorrow.

Regards
  • #16,466
  • Mar 25, 2013 11:23am Mar 25, 2013 11:23am
Quoting frank.david
Hello adamjhdavis

what is TDI PL and TSL prices in the Data Window?

Thanks in advance
If you select the data window button (looks like a rifle sight) or click View.

Go to the indicator window, scroll down to the indicator window section - and your see RSI Price line (That is the PL) and the Trade Signal Line (TSL).

Hover over the the point on the indicator and you will see the exact readings in the data window.

Hoep that's clear.
  • #16,467
  • Mar 25, 2013 11:24am Mar 25, 2013 11:24am
Quoting hollowhead
If you select the data window button (looks like a rifle sight) or click View.

Go to the indicator window, scroll down to the indicator window section - and your see RSI Price line (That is the PL) and the Trade Signal Line (TSL).

Hover over the the point on the indicator and you will see the exact readings in the data window.

Hoep that's clear.

Look at the two numbers - if the TDI number is greater than the PL number it has crossed up. If it is the same - then it's touching, if it's lower then it hasn't crossed.
  • #16,468
  • Mar 25, 2013 11:37am Mar 25, 2013 11:37am
Quoting hollowhead
Look at the two numbers - if the TDI number is greater than the PL number it has crossed up. If it is the same - then it's touching, if it's lower then it hasn't crossed.
Got it 100% thanks Hollowhead.
  • #16,469
  • Mar 25, 2013 12:25pm Mar 25, 2013 12:25pm
N/U seems to be a viable short to me..waiting for it to close
Attached Image (click to enlarge)
Click to Enlarge Name: Untitled.png Size: 30 KB
  • #16,470
  • Mar 25, 2013 12:27pm Mar 25, 2013 12:27pm
Yes to the falling knife
  • #16,471
  • Mar 25, 2013 1:25pm Mar 25, 2013 1:25pm
Quoting hollowhead
Look at the two numbers - if the TDI number is greater than the PL number it has crossed up. If it is the same - then it's touching, if it's lower then it hasn't crossed.
Hi hollowhead

got it..PL and TSL.and thanks for detail.

regards
  • #16,472
  • Mar 25, 2013 1:34pm Mar 25, 2013 1:34pm
  •  Hcp
  • | Joined Feb 2008 | Status: Everything Has the Meaning You Give | 74 Posts
Quoting emmanuel7788
How to catch a 'falling knife' trade?

Who wants to learn how to catch a 'falling knife' trade?

Let me see 50 post yes and I shall share this.

Offer valid till NY close today... Patience!
Me too. thank you.
  • #16,473
  • Mar 25, 2013 1:47pm Mar 25, 2013 1:47pm
Quoting biDc
N/U seems to be a viable short to me..waiting for it to close
Looks like a half decent bounce trade to me.

Candles are quite small and the one hour is showing that its going in the opposite direction which seems to be the current daily trend. Also S & R to consider.

For me I'd see how it opens, ie look at the 1 hour and 15 minute for entry. could be good for a scalp.

I'm far from an expert though.
  • #16,474
  • Mar 25, 2013 4:35pm Mar 25, 2013 4:35pm
So this is probably a very basic question, but I'm getting myself a bit confused. I've been reading alot about about candlestick patterns (and loving Emmanuel7788's generous guidance). My question is around the patterns and HA/Japanese Candlesticks.

From what I've read you 'read' HA candles differently, and from flipping to and fro on charts using and HA and Japanese, I notice that the patterns are very different. So if we are using PA and S/R, which candles should I be looking at - HA or Japanese or both?

Am I being thick?
  • #16,475
  • Mar 25, 2013 6:19pm Mar 25, 2013 6:19pm
Quoting hollowhead
So this is probably a very basic question, but I'm getting myself a bit confused. I've been reading alot about about candlestick patterns (and loving Emmanuel7788's generous guidance). My question is around the patterns and HA/Japanese Candlesticks.

From what I've read you 'read' HA candles differently, and from flipping to and fro on charts using and HA and Japanese, I notice that the patterns are very different. So if we are using PA and S/R, which candles should I be looking at - HA or Japanese or both?

Am I being thick?
Moin moin hollowhead,

very good question and I will answer this immaeiately while I am eating my breaskfast now.
I trade the stock market for many years and to tell you the truth, I never believed in the Japanese created Heiken-Ashi (Average Price) candles.
The HAs are artificially created from the true price - High, Low and Close to show a average price bar. The HA or what other call APB, has its own merits in some trading methods. It does work well in some trading systems.

But when we talk about PA candlestick pattern we use only the true price OHLC in Japanese candlestick form. Also all historical Support and Resistance are drawn using the true OHLC.

When you have more time, you can research candlestick study by Steve Nison. IMO, he is the best for real application in trading.

When we trade TMS, we use the HA or APB as one of the indicators and in trade decision - entry and exit. This works well but again, my experience its that it is still 'lagging' behind PASR trading.

PASR= Price Action and Support and Reisstance.

PASR when use in higher TF will give you early warning like the AWACs, our kind of heads-up before TDI cross, or make that 12-2 and 4-6 turns in our trading TF.

PASR will make Trading Made Simple the Easy way. This is what we all should do and make it work here in this thread.

Good Trading!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #16,476
  • Mar 25, 2013 6:28pm Mar 25, 2013 6:28pm
Quoting hollowhead
Thanks for this!

Think of using R-multiple in trade management.

every R=1% risk
each week we do 5 trades... 3 winners, 2 losers.
nett - +3Rs per week.

in 40 weeks, = 120Rs... is this achievable? YES.

that is 120% in 40 weeks of trading.

what do you do with the other remaining 12 weeks?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #16,477
  • Mar 25, 2013 6:33pm Mar 25, 2013 6:33pm
Quoting hollowhead
So this is probably a very basic question, but I'm getting myself a bit confused. I've been reading alot about about candlestick patterns (and loving Emmanuel7788's generous guidance). My question is around the patterns and HA/Japanese Candlesticks.

From what I've read you 'read' HA candles differently, and from flipping to and fro on charts using and HA and Japanese, I notice that the patterns are very different. So if we are using PA and S/R, which candles should I be looking at - HA or Japanese or both?

Am I being thick?
Hollowhead,

Per Emmanuel's comments, the only difference is how they are calculated. The Heikin Ashi approach has more of a stock background and has a longer averaging timeframe, so may not be best suited for Forex. The Average Price Bars were developed by the Synergy Trading folks as a faster averaging more suited to Forex. It's all in the algorithms and if you compare the pics you can see the slight differences between them.

Real Time PA is how we decide the entries, regardless of what colour the HA / APB is showing us - and of course, S/R levels.
Attached Image (click to enlarge)
Click to Enlarge Name: Candlesticks - APB - HA.gif Size: 55 KB
"To live with Passion, it takes Courage and Grace to survive"
  • #16,478
  • Mar 25, 2013 6:35pm Mar 25, 2013 6:35pm
Quoting emmanuel7788
http://www.forexfactory.com/attachme...1&d=1364201673


If you are not in this yet, ... DO NOT CHASE after price. ..
wait for a retracement / pullback entry... it can be a falling knife for this pair this week...it will cut you bad trying to catch a falling knife.

hint: catch it from above and follow the downward momentum.
Hi,

Just to follow up on this UCad as it made a huge move yesterady.
There was a nice H4 trigger but it showed up a bit way too high ... so I am suspicious.

it is still trading within the breakout range, so we still wait or we can catch small bites of the move until that breakout happen.
Attached Image (click to enlarge)
Click to Enlarge Name: UCad week 13 H4 view update 26 Mar 26-3-2013 6-27-33 AM.png Size: 89 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #16,479
  • Mar 25, 2013 6:35pm Mar 25, 2013 6:35pm
Quoting emmanuel7788
Moin moin hollowhead,

very good question and I will answer this immaeiately while I am eating my breaskfast now.
I trade the stock market for many years and to tell you the truth, I never believed in the Japanese created Heiken-Ashi (Average Price) candles.
The HAs are artificially created from the true price - High, Low and Close to show a average price bar. The HA or what other call APB, has its own merits in some trading methods. It does work well in some trading systems.

But when we talk about PA candlestick pattern we use only the true...
Morning Emmanuel - I really appreciate you taking the time to answer (I'm amazed how you have time to trade and give the amount of attention to the forum dwellers you do - I know many of us a really grateful for your input. It's really important to be able to learn from people who are practitioners and have proven themselves as teachers and not system peddlers). Your explanation makes things much clearer. Thank you.
  • #16,480
  • Mar 25, 2013 6:51pm Mar 25, 2013 6:51pm
Quoting hollowhead
Morning Emmanuel - I really appreciate you taking the time to answer (I'm amazed how you have time to trade and give the amount of attention to the forum dwellers you do - I know many of us a really grateful for your input. It's really important to be able to learn from people who are practitioners and have proven themselves as teachers and not system peddlers). Your explanation makes things much clearer. Thank you.
my pseudonym say '7788'...
that means I work 7 days 7 nights per week, 8 hours per day and 8 hours per night...that leave me with 4 hours daytime and 4 hours night time...

- just kidding. I do have a life.

the truth is I am a lazy person. So i automate many things in my trading like for example alerts when my favourite CSP shows up in my traded pairs, trade management using R-muiltiple, etc. and I have wonderful team of 8 traders who share their eyes online with me. That make life as a trader more fun and enjoyable.

have a great day ahead.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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