Trading Made Simple | Page 866 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Monitor for 'Trading Made Simple' system 565 replies

Trading Made Simple the right way, and other trading lessons 334 replies

Indicators for the 'Trading Made Simple' system 343 replies

MTF Indicators for the 'Trading Made Simple' system 241 replies

Trading Made Simple system follower - Thanks to eelfranz 9 replies

Attachments: Trading Made Simple
Exit Attachments

Trading Made Simple

  • #17,301
  • Apr 10, 2013 12:06am Apr 10, 2013 12:06am
Quoting Jackub
Could you mark with vertical line candle you enter the marker , please?
Hi, Entry on the begining of 2nd candle, ie 7am gmt
  • #17,302
  • Apr 10, 2013 12:40am Apr 10, 2013 12:40am
Quoting raster
Hi, Entry on the begining of 2nd candle, ie 7am gmt
Attached Image (click to enlarge)
Click to Enlarge Name: eurusdh1.png Size: 42 KB



I see consolidation for few hours, all candles are small with short wicks, not to much money on the market, not sellers and buyers,
ON Frankfurt open they push little bit price down to catch detailed traders for shorts, then on LO push price opposite to take all SL
Your fault I think is to put trade durnig consolidation, consolidation with very small range, avoid this kind of market, wait for bigger moves.
Take look for previous London Opens day after day few weeks, months back, collect experience about LO

Someone told me traiding is a generally waiting, waiting for HQT (high quality trades)
JacekPreserve Precious Capital
  • #17,303
  • Apr 10, 2013 12:44am Apr 10, 2013 12:44am
Quoting Jackub
{image} I see consolidation for few hours, all candles are small with short wicks, not to much money on the market, not sellers and buyers, ON Frankfurt open they push little bit price down to catch detailed traders for shorts, then on LO push price opposite to take all SL Your fault I think is to put trade durnig consolidation, consolidation with very small range, avoid this kind of market, wait for bigger moves. Take look for previous London Opens day after day few weeks, months back, collect experience about LO Someone told me traiding is a generally...
Thanks Jackub, so have to wait london and then new-york for EURUSD ?
  • #17,304
  • Apr 10, 2013 12:52am Apr 10, 2013 12:52am
Quoting raster
Thanks Jackub, so have to wait london and then new-york for EURUSD ?
You have to be flexible, adjust your traiding to situation on the market
Not every single day situation is the same. yesterday you could make nice trade before Lo bcoz candles was strong showing big momentum, today was complitly flat
Generaly I am looking for entry after LO, and off course do not take every single cross, I am trying evaluate every cross, as eelfranz was saying see the cross do your standard PA stuff and tak it or not. Studing his entries and comments is priceless...
JacekPreserve Precious Capital
  • #17,305
  • Apr 10, 2013 12:52am Apr 10, 2013 12:52am
Quoting raster
Hi all, new to trading and forex, learning by errors... Short on EURUSD H1. Entry as described in first post. But looks bad... What's wrong ? {image}
In my opinion:

the candles are very small..not much movement. And the greed line (in TDI) has not good angle. It should be more steep (like 6-4 on clocks)
  • #17,306
  • Edited 1:21am Apr 10, 2013 1:11am | Edited 1:21am
Quoting raster
Hi all, new to trading and forex, learning by errors... Short on EURUSD H1. Entry as described in first post. But looks bad... What's wrong ? {image}
I see nothing wrong with this trade except it's before London session (i.e. Frankfurt) and against H4 trend, there is usually fake signals (70% time) before London Open so if you want to enter early/go against the trend, you may need to check extra signals

However if you hit SL at the high of asian session (3090), then you should enter long at 3090 (i.e. break out of asian session, break out of the previous (pullback) candle) and now that profits should cover your loss.

Talk about entering soon with pullback candle even TDI hasn't crossed. I strongly recommend not to do this on M15 or lower chart.


I missed this long because I just arrived home from work... prob need to leave job and trade full time....
back... and more dangerous.
  • #17,307
  • Apr 10, 2013 1:32am Apr 10, 2013 1:32am
Quoting kbp
I see nothing wrong with this trade except it's before London session (i.e. Frankfurt) and against H4 trend, there is usually fake signals (70% time) before London Open so if you want to enter early/go against the trend, you may need to check extra signals However if you hit SL at the high of asian session (3090), then you should enter long at 3090 (i.e. break out of asian session, break out of the previous (pullback) candle) and now that profits should cover your loss. Talk about entering soon with pullback candle even TDI hasn't crossed....
EElfranz entered 2 hours before LO...
@pawpaw1000 on Twitter
  • #17,308
  • Apr 10, 2013 1:57am Apr 10, 2013 1:57am
took first trade with this method last night. closed first trade for small loss which turned out to be a good move. second trade on EU just after US opening picked up 30 pips.
missed the longs at lon opening today but watching for retrace, particularly on GU.
Looks like an easy method to follow.
  • #17,309
  • Apr 10, 2013 2:20am Apr 10, 2013 2:20am
Attached Image (click to enlarge)
Click to Enlarge Name: eurusdh1.png Size: 15 KB


if EU H1 broke down 3090 on next candle, I'll go short.
back... and more dangerous.
  • #17,310
  • Apr 10, 2013 2:36am Apr 10, 2013 2:36am
When H4 shows same trend as Daily you can enter in the direction of the trend. Entry point is when you see a reversal in H1 pointing towards your trend. This is how you use H4 and H1 showing differently.
Quoting rino88au
But most of the times H1 Chart gives totally different direction and signals than the main trend and the H4 chart! So how could you work on H1 and trade on H4 if you are getting different signals and directions? I did exit by myself with -54 pips loss @ 1Lot
  • #17,311
  • Apr 10, 2013 3:57am Apr 10, 2013 3:57am
Quoting geeram
When H4 shows same trend as Daily you can enter in the direction of the trend. Entry point is when you see a reversal in H1 pointing towards your trend. This is how you use H4 and H1 showing differently.
One technique I learned some years ago is the use of Triple Screen to trade:
See chart example below.
Attached Image (click to enlarge)
Click to Enlarge Name: TMS TripleScreen 10-4-2013 5-59-13 PM.png Size: 135 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #17,312
  • Apr 10, 2013 4:17am Apr 10, 2013 4:17am
Quoting kbp
{image} if EU H1 broke down 3090 on next candle, I'll go short.
same thought, as I see EU hit a historical supply zone and struggle at RN 1.3100 CONFLUENCE with Prev W fib=e 127% 1.3120.
did someone mention bearish Divergence ?

but we have FOMC in about 7 hours.
will today' FOMC be pro-USD?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #17,313
  • Apr 10, 2013 4:19am Apr 10, 2013 4:19am
Quoting emmanuel7788
same thought, as I see EU hit a historical supply zone and struggle at RN 1.3100 CONFLUENCE with Prev W fib=e 127% 1.3120. did someone mention bearish Divergence ? but we have FOMC in about 7 hours. will today' FOMC be pro-USD?
Did noticed on H4 and H1...
JacekPreserve Precious Capital
  • #17,314
  • Apr 10, 2013 4:29am Apr 10, 2013 4:29am
Quoting Jackub
Did noticed on H4 and H1...

very good that you spotted that Divergence...
this now add more weight to my trade plan now.

this is what I will be looking for...Plan A.
see chart below:

Plan B is when this belief is not true anymore.
Attached Image (click to enlarge)
Click to Enlarge Name: EU week 15 10 April pre-NYO FOMC 10-4-2013 7-21-08 PM.png Size: 52 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #17,315
  • Apr 10, 2013 4:31am Apr 10, 2013 4:31am
Quoting emmanuel7788
same thought, as I see EU hit a historical supply zone and struggle at RN 1.3100 CONFLUENCE with Prev W fib=e 127% 1.3120. did someone mention bearish Divergence ? but we have FOMC in about 7 hours. will today' FOMC be pro-USD?

GU looks bearish too, but waiting this candle to close. If H4 candle it is going to close like it is now, would be fine a little retrace.
As for the EU, if it will remain like it is now, it is going to be a nice H4 pinbar.
Attached Image (click to enlarge)
Click to Enlarge Name: gu h4.gif Size: 12 KB
  • #17,316
  • Apr 10, 2013 4:41am Apr 10, 2013 4:41am
Quoting cristiansan
GU looks bearish too, but waiting this candle to close. If H4 candle it is going to close like it is now, would be fine a little retrace. As for the EU, if it will remain like it is now, it is going to be a nice H4 pinbar. {image}
GU D looks sideway and this current H4 price pullback too much from ???? (you know what I mean).
I like to see H4 price close stronger belwo the low of the prev 2 candle back, this will show me a 3-bar bearish pattern so I can jump at the next 4H period.

GU looks good for next week swing trading.... must wait to see how the W candle close.

Edit: added chart to explain...
Attached Image (click to enlarge)
Click to Enlarge Name: GU week 15 10 Apr NYO setup 10-4-2013 7-42-11 PM.png Size: 49 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #17,317
  • Apr 10, 2013 4:44am Apr 10, 2013 4:44am
Quoting emmanuel7788
very good that you spotted that Divergence... this now add more weight to my trade plan now. this is what I will be looking for...Plan A. see chart below: Plan B is when this belief is not true anymore. {image}
I am busy this afternoon, so will not be sitting "on" charts, but do you think this 38,2% is all what bulls can do ?
JacekPreserve Precious Capital
  • #17,318
  • Apr 10, 2013 5:10am Apr 10, 2013 5:10am
Now NYO...
GU H4 looks good to go.
EU H4 still must wait.

if EU drop down, my EURAUD trade will run very nice for this week.... 4% will be good, 5% will be bonus.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #17,319
  • Apr 10, 2013 5:15am Apr 10, 2013 5:15am
Quoting emmanuel7788
GU D looks sideway and this current H4 price pullback too much from ???? (you know what I mean). I like to see H4 price close stronger belwo the low of the prev 2 candle back, this will show me a 3-bar bearish pattern so I can jump at the next 4H period. GU looks good for next week swing trading.... must wait to see how the W candle close. Edit: added chart to explain... {image}
http://www.forexfactory.com/attachme...1&d=1365594364

Exactky what I wanted to see H4 close... when NYO.
Attached Image (click to enlarge)
Click to Enlarge Name: GU week 15 10- Apr NYO setup 10-4-2013 8-12-28 PM.png Size: 40 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #17,320
  • Apr 10, 2013 5:26am Apr 10, 2013 5:26am
Resistance and Supply Zone:

someone PM and ask me how I identify Resistance and Supply zone.
Here is EU example what I mean in my post above.
Please post your qeustions here in this thread and not use PM. This will benefit more people when I reply in this thread.

Trade Well!

Attached Image (click to enlarge)
Click to Enlarge Name: EU supply zone 10-4-2013 8-21-41 PM.png Size: 45 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
46 traders viewing now