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  • #16,781
  • Apr 1, 2013 9:19pm Apr 1, 2013 9:19pm
Quoting emmanuel7788
today on D is too late. to jump in as seller. EJ is entering into a demand zone....where bears will face tough fight with bulls. wait for the PA to show pullback A low TF intraday entry is a likely option. {image}

Here is an example how a lower TF intraday entry for EJ we discussed:
As you observed, the PA APB show London made a toppisch with long upper wicks before NYO.
The zone was nice CONFLUENCE of several S&R plus my fav Fib38/50 pullback.
The NYO+1 candle made a quick turnaround.
Attached Image (click to enlarge)
Click to Enlarge Name: EJ 1 April H1 entry example 2-4-2013 10-08-40 AM.png Size: 64 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #16,782
  • Apr 2, 2013 12:33am Apr 2, 2013 12:33am
Quoting emmanuel7788
Hi ALL, Here is one example where PA stopped and HA shows a possible setup for sell. But as you see the situation now after 2 HA candles later, the picture has changed. This is a good example where you can practice and learn on your own. Why was that H4 setup of higher risk or lower probability when that H4 HA 2nd candle closed? {image}
http://www.forexfactory.com/attachme...1&d=1364794810

GBPNZD week 14 2 Aprll:

There was a nice H4 entry ...did anyone catch that?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #16,783
  • Apr 2, 2013 12:35am Apr 2, 2013 12:35am
I was wondering if anyone can clarify for me Big E's entry timing. From what I read, he would enter at the open of a new candle. His basis of entry would be on TDI cross. My question is, do we use the TDI of the previous candle as a basis to enter at the current new candle, or do we use the TDI of current new candle (which is still subjected to change because candle is not closed) as the basis? I have attached a chart as an example. Just assume the chart currently has a basis for entry.

A - TDI of previous candle is set in stone (won't change direction)
B - TDI of current candle (can still change direction)

So assume the current candle just opened and the TDI for it (B) is very good angle. Is the basis of entry that Big E teaches based on A or B when observing TDI?

Thanks for the clarification!
Attached Image (click to enlarge)
Click to Enlarge Name: Untitled.png Size: 26 KB
  • #16,784
  • Apr 2, 2013 2:10am Apr 2, 2013 2:10am
Quoting biDc
I was wondering if anyone can clarify for me Big E's entry timing. From what I read, he would enter at the open of a new candle. His basis of entry would be on TDI cross. My question is, do we use the TDI of the previous candle as a basis to enter at the current new candle, or do we use the TDI of current new candle (which is still subjected to change because candle is not closed) as the basis? I have attached a chart as an example. Just assume the chart currently has a basis for entry. A - TDI of previous candle is set in stone (won't change direction)...
A lot depends your reading of the PA using the APB.

TDI cross is only confrimed after that candle closed.

the basic rule is entry and exit using the TDI.

enter on 1st and 2nd candles after TDI cross. if 3rd canlde onwards... do not enter, with one except. What is the exception?

can you enter during a APB before it close? yes that depends on PA and how good you are at reading PA.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #16,785
  • Apr 2, 2013 2:15am Apr 2, 2013 2:15am
Hi emmanuel .
I believe today we see another move down on EU pairs. and also GU.
Right now i have my eyes on EJ 1hr RETEST to previous support turned resistance 119.70-119.60 Zone.
How about you ? Any pairs on your watchlist??
sry forgot to attach chart.
Attached Image (click to enlarge)
Click to Enlarge Name: ej.gif Size: 20 KB
  • #16,786
  • Apr 2, 2013 2:32am Apr 2, 2013 2:32am
Quoting Winner1245
Hi emmanuel . I believe today we see another move down on EU pairs. and also GU. Right now i have my eyes on EJ 1hr RETEST to previous support turned resistance 119.70-119.60 Zone. How about you ? Any pairs on your watchlist?? sry forgot to attach chart. {image}
I still have EJ from yesterday, now protected at 119.91 above Today TOK_5H high. Low risk trade with partial exit to cover some initial Risk.

Today:
I have intraday EU and GU entered earlier TOK_5H.
GU exit +20pips and BE and got kicked out.
Now look for re-entry when LO.

EU not looking too good now. Need to see if it will break below TOK_5H.

AU - waiting for a reversal from this morning rally.

4H swing -
GZ - entered @1.8145
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #16,787
  • Apr 2, 2013 2:41am Apr 2, 2013 2:41am
Quoting emmanuel7788
AU week 14... 2 April: In about 4 hours time, RBA will announce its rate or many believe it will confirm its prevailing rate @3%. Yesterday AU was bullish ahead of this. Wanna make a technical guess?
UP
Will take half at 1.0490
Attached Image(s) (click to enlarge)
Click to Enlarge Name: au.gif Size: 20 KB
Click to Enlarge Name: ac.gif Size: 23 KB
Click to Enlarge Name: ga.gif Size: 24 KB
  • #16,788
  • Apr 2, 2013 2:48am Apr 2, 2013 2:48am
EU 2 Apr H1 trade :
Attached Image (click to enlarge)
Click to Enlarge Name: EU 2 Apr H1 trade 2-4-2013 3-46-08 PM.png Size: 46 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #16,789
  • Apr 2, 2013 3:02am Apr 2, 2013 3:02am
No trade for LO for me.
  • #16,790
  • Apr 2, 2013 3:42am Apr 2, 2013 3:42am
Quoting emmanuel7788
{image} ("http://www.forexfactory.com/attachment.php?attachmentid=1163050&d=1364794810") GBPNZD week 14 2 Aprll: There was a nice H4 entry ...did anyone catch that?
Trades protected at BE, and let it run ...

Anyone want to discuss how to manage such trade to 'let profit run'?
Attached Image (click to enlarge)
Click to Enlarge Name: GBPNZD week 14 H4 trade 2-4-2013 4-39-06 PM.png Size: 30 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #16,791
  • Apr 2, 2013 3:56am Apr 2, 2013 3:56am
For me, it's the best mm, using BE and .... run.
But, I'm still loosing, I'm trying to find my way.
Yes I'm interest to see how you manage your trades, everything SL, TP, BE...

Here:
http://www.forexfactory.com/showthread.php?t=245521

I've found a very good and easy to use EA for MM.

Best regards
Quoting emmanuel7788
Trades protected at BE, and let it run ... Anyone want to discuss how to manage such trade to 'let profit run'? {image}
  • #16,792
  • Apr 2, 2013 4:16am Apr 2, 2013 4:16am
Quoting emmanuel7788
Trades protected at BE, and let it run ... Anyone want to discuss how to manage such trade to 'let profit run'? {image}
Hi emmanuel, yes very interested, been playing with BE and trailing stops on H4 and daily time frames and letting it run...., but the larger SL risk freaks me out before i reach my BE at 20-30pips.
By failing to prepare, you are preparing to fail - Benjamin Franklin
  • #16,793
  • Apr 2, 2013 4:27am Apr 2, 2013 4:27am
Hi Emmanuel7788,

The truth is that the more l read your comments the more l feel remorse about those comments l made. The way you responded showed high level of maturity and discipline. l am really very very sorry.

Thanks for understanding.
  • #16,794
  • Apr 2, 2013 4:30am Apr 2, 2013 4:30am
Hi,

Here is an example how I manage my EU H1 trade using R-Multiple:
Attached Image (click to enlarge)
Click to Enlarge Name: EU 2 Apr H1 Trade Mngt R Multiple 2-4-2013 5-16-15 PM.png Size: 55 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #16,795
  • Apr 2, 2013 4:40am Apr 2, 2013 4:40am
Quoting Downunder
Hi emmanuel, yes very interested, been playing with BE and trailing stops on H4 and daily time frames and letting it run...., but the larger SL risk freaks me out before i reach my BE at 20-30pips.
I find that if I use MM that dictates and sets the risk - say 5% per trade. Stop loss is set by PA (SR or last high/low). Then divide the risk by the size of the stoploss - then you have how much you can trade per pip. Following this it makes no difference if SL is 10 or 100 away - my risk is always the same. (this used to concern me - but I realised that a large stoploss is normally because it's a high volatility pair and needs space to breath, or the higher TF means the move will be bigger and longer - eaither way my risk is still only 5%). Of course there are pairs I can't trade because my account size means that my 5% is not enough (eg USD/ZAR) - but that's cool.

For me MM is then two trades open - TP1 is the same as the stoploss = RR1, and then second I phase out. RR2 - I close 50%, RR3 - I close 50% of what's remaining. Each time moving SL to the last TP level. I keep doing this until I'm taken out.
  • #16,796
  • Edited 5:05am Apr 2, 2013 4:44am | Edited 5:05am
Quoting ForexTeam
For me, it's the best mm, using BE and .... run. But, I'm still loosing, I'm trying to find my way. Yes I'm interest to see how you manage your trades, everything SL, TP, BE... Here: http://www.forexfactory.com/showthread.php?t=245521 I've found a very good and easy to use EA for MM. Best regards
Quoting Downunder
Hi emmanuel, yes very interested, been playing with BE and trailing stops on H4 and daily time frames and letting it run...., but the larger SL risk freaks me out before i reach my BE at 20-30pips.

Hi guys,

Thanks ForexTeam for the visual order EA. I use MPTM because it can manage multiple trades as a basket. For intraday I have my own visual trade manager using lines on my charts.

Here a pic of how this trade is being managed now. I will write another time how to handle trades with Multiple Entries and Multple Exits. This should help some of you to overcome the shortcomings of Single Entry/Single Exit strategy.

Meantime see how much you understand what I meant on the attached chart.

Trade Well.
Attached Image (click to enlarge)
Click to Enlarge Name: GNPNZD H4 trade mangt R-Multiple 2-4-2013 5-32-09 PM.png Size: 63 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #16,797
  • Apr 2, 2013 5:01am Apr 2, 2013 5:01am
Quoting hollowhead
I find that if I use MM that dictates and sets the risk - say 5% per trade. Stop loss is set by PA (SR or last high/low). Then divide the risk by the size of the stoploss - then you have how much you can trade per pip....
Thanks hollowhead, interesting stuff.....
By failing to prepare, you are preparing to fail - Benjamin Franklin
  • #16,798
  • Apr 2, 2013 6:12am Apr 2, 2013 6:12am
GBPNZD H4 trade update:

The drop is too fast with no pause in H1. No chance to add positions.

Now protected +2R level.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPNZD H4 trade mngt update 2-4-2013 7-07-17 PM.png Size: 45 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #16,799
  • Apr 2, 2013 6:16am Apr 2, 2013 6:16am
Quoting emmanuel7788
Hi, Here is an example how I manage my EU H1 trade using R-Multiple: {image}
Normally EU will move 50+ pips in one direction so my TP1 will be 50pips (unless pullback) and TP2 will be unlimited until pullback or close of London.

EU was so obvious both today (short, even with m15) and yesterday (long). Anyone shouldn't miss that.
back... and more dangerous.
  • #16,800
  • Apr 2, 2013 6:17am Apr 2, 2013 6:17am
Quoting hollowhead
I find that if I use MM that dictates and sets the risk - say 5% per trade. Stop loss is set by PA (SR or last high/low). Then divide the risk by the size of the stoploss - then you have how much you can trade per pip. Following this it makes no difference if SL is 10 or 100 away - my risk is always the same. (this used to concern me - but I realised that a large stoploss is normally because it's a high volatility pair and needs space to breath, or the higher TF means the move will be bigger and longer - eaither way my risk is still only 5%)....
very good share by hollowhead, thanks.

we all have to understand what risk is and how we can use Position Sizing in our trading.

If your risk is 2% for the trade, it does not matter if your technical initial SL is 40 pips or 100 pips. Your risk remains the same at 2%.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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