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Trading Made Simple

  • #17,701
  • Apr 18, 2013 2:02am Apr 18, 2013 2:02am
on my watch list for few couple of hours
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  • #17,702
  • Apr 18, 2013 2:08am Apr 18, 2013 2:08am
Quoting terminator12
Wizard 99 How do u work it on between buy and sell . When it comes to buy click on buy But how to take out and click on sell ,
Hmm, not sure what you mean Mate...?

If you have the buy fibo lines on ur chart and you want the sell you L click twice on the dotted line connecting the lines. then right click delete. Then place sell on your chart.

hope that answers.....

To be honest I got this from Emmanuel, who has posted it somewhere here on the thread. Maybe it loaded wrong or something on your MT4. ?

Hey Emmanuel, I need some help here !!! LOL cause Im not that good at explaining or fixing things......
  • #17,703
  • Apr 18, 2013 2:14am Apr 18, 2013 2:14am
also on my watch list: AUDUSD
and more, on D1 distance from red line and green line of TDI is 10 points, so an up move could happen
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  • #17,704
  • Apr 18, 2013 2:14am Apr 18, 2013 2:14am
Quoting wizard99
Hmm, not sure what you mean Mate...? If you have the buy fibo lines on ur chart and you want the sell you L click twice on the dotted line connecting the lines. then right click delete. Then place sell on your chart. hope that answers..... To be honest I got this from Emmanuel, who has posted it somewhere here on the thread. Maybe it loaded wrong or something on your MT4. ? Hey Emmanuel, I need some help here !!! LOL cause Im not that good at explaining or fixing things......
Thanks Right click and click on Objects List and delete
  • #17,705
  • Apr 18, 2013 2:26am Apr 18, 2013 2:26am
Quoting cristiansan
also on my watch list: AUDUSD and more, on D1 distance from red line and green line of TDI is 10 points, so an up move could happen {image}
Hi mate,
Don't know nothing about the red and green distance, would you be so kind and point me out where can read about it, please??
JacekPreserve Precious Capital
  • #17,706
  • Apr 18, 2013 4:22am Apr 18, 2013 4:22am
Quoting wizard99
Taken out BE on my NU trade {image}
Hi W99,

Just wondering.. what was your T/P strategy?
Did you T/P a certain percentage of lots or all when price hits your 1.0 R?
You could have locked in some profit if you did rather than letting the trade run till BE..

Just a thought.

Cheers!
  • #17,707
  • Apr 18, 2013 4:31am Apr 18, 2013 4:31am
Quoting Harlem
Hi W99, Just wondering.. what was your T/P strategy? Did you T/P a certain percentage of lots or all when price hits your 1.0 R? You could have locked in some profit if you did rather than letting the trade run till BE.. Just a thought. Cheers!
This thought crossed my mind when was watching W99 chart, but was sure he did it...
JacekPreserve Precious Capital
  • #17,708
  • Apr 18, 2013 4:40am Apr 18, 2013 4:40am
Makes me wonder if price will get through,
there is 50% W Fibb ret, and 50% fib ret last swing down confluence,

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Should think about before taking trade, ... but after all these are only lines on my computer...
JacekPreserve Precious Capital
  • #17,709
  • Apr 18, 2013 4:45am Apr 18, 2013 4:45am
Entry on A/U H4
I entered 5 minutes late on the candle close as I just returned from some errands.

Reasons
1. TDI crossed at 1-2 o'clock angle (also coming from the 32 line which gives me an added confidence in the entry)
2. Price action looks reasonably strong.

PA on E/U, G/U and U/CHF are still developing... No entries on those pairs yet.

Now to wait for the trade to mature...

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Quoting Jackub
This thought crossed my mind when was watching W99 chart, but was sure he did it...
I hoped so too
  • #17,710
  • Apr 18, 2013 4:46am Apr 18, 2013 4:46am
Quoting Jackub
Hi mate, Don't know nothing about the red and green distance, would you be so kind and point me out where can read about it, please??

After reading this post of Fav:
http://www.forexfactory.com/showthre...05#post6587805

....I asked Fav this:
http://www.forexfactory.com/showthre...52#post6588052

... and I made a short test here:
http://www.forexfactory.com/showthre...4#post6588214; and this is the first and the last M5 trade I posted on this thread
  • #17,711
  • Apr 18, 2013 4:58am Apr 18, 2013 4:58am
Hi kbp,

Thanks for explaining on how to make an entry. As I'm fairly new trader, I was wondering how do you define your entery if it is "with or against" the trend as TDI give signals whenever the market change the directions. So you might enter the market according to TDI signal then market change direction and hit SL! That has happened to me few times already this week.

I usually enter "Buy" on H4 when TDI green heading up crossing red and the PL is below 50 and I enter "Sell" when TDI green heading down cross red and the PL is above 50. But I can't find any use for the stochastic indicator!

Other thing, I read on first posts of Big E that he enter on the beginning of the H4 candle if there is a trading chance and then go sleep and wake up after 4 hours! I have tried that and it worked sometimes and other times, I found the market going against me so how does this work exactly and when should I take a profit? I know the idea of this system that us traders shouldn't be glued to the computer all day or night. But it doesn't work all the times like that. I'm sure that I'm missing something here as I read a lot of you making successful trades with this system.
  • #17,712
  • Apr 18, 2013 5:00am Apr 18, 2013 5:00am
Quoting cristiansan
After reading this post of Fav: http://www.forexfactory.com/showthre...05#post6587805 ....I asked Fav this: http://www.forexfactory.com/showthre...52#post6588052 ... and I made a short test here: http://www.forexfactory.com/showthre...4#post6588214; and this is the first and the last M5 trade I posted on this thread
Yesss, I remember this, sorry I was so lazy...
JacekPreserve Precious Capital
  • #17,713
  • Apr 18, 2013 5:13am Apr 18, 2013 5:13am
Quoting Jackub
Yesss, I remember this, sorry I was so lazy...
Right now the difference is 10 on EJ, M30 + 61,8% Fib retrace of yesterday range. Let's see...
  • #17,714
  • Apr 18, 2013 5:36am Apr 18, 2013 5:36am
Quoting Jackub
This thought crossed my mind when was watching W99 chart, but was sure he did it...
Hi,
No Reason, PA had moved to TP1 which was time to move SL to BE. My study shows that if you move your SL to BE when PA reaches TP1
that's a good sign. Everything else to that point is on borrowed time. PA could just as easily gone 2 to 1, or 3 to 1, or 6 to 1 at that time but who knows? look at my trades yesterday...... All i know is I didnt lose on that trade.

But im a noob and SERIOUSLY you should ignore what I say.... ( but I plan to get better....)



W99
  • #17,715
  • Apr 18, 2013 7:36am Apr 18, 2013 7:36am
Boring day.....
closed 1/3 position on AU, 21 pips right on Prev D Fib - r 50% and placed SL on BE +2, not much but more then nothing ... will see if US news help push higher AU... will be fine, if not I am safe already and not with empty hands...
JacekPreserve Precious Capital
  • #17,716
  • Apr 18, 2013 7:37am Apr 18, 2013 7:37am
Quoting Harlem
Entry on A/U H4 I entered 5 minutes late on the candle close as I just returned from some errands. Reasons 1. TDI crossed at 1-2 o'clock angle (also coming from the 32 line which gives me an added confidence in the entry) 2. Price action looks reasonably strong. PA on E/U, G/U and U/CHF are still developing... No entries on those pairs yet. Now to wait for the trade to mature... {image} I hoped so too
Hi Harlem, you're not alone on this one
I applied the origine TMS method : green cross red, 2 o'clock, Strong candle, SL on latest low. Just have to find a better method to exit...
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  • #17,717
  • Apr 18, 2013 7:43am Apr 18, 2013 7:43am
GBPUSD looks ready to go long

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  • #17,718
  • Apr 18, 2013 8:21am Apr 18, 2013 8:21am
GBPUSD H4 Long.

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  • #17,719
  • Apr 18, 2013 8:27am Apr 18, 2013 8:27am
Quoting rino88au
Hi kbp, Thanks for explaining on how to make an entry. As I'm fairly new trader, I was wondering how do you define your entery if it is "with or against" the trend as TDI give signals whenever the market change the directions. So you might enter the market according to TDI signal then market change direction and hit SL! That has happened to me few times already this week. I usually enter "Buy" on H4 when TDI green heading up crossing red and the PL is below 50 and I enter "Sell" when TDI green heading down cross red and the PL is above 50....
Hi rino88au,

I deleted my post as I thought it was too general on how a trader determines a good trade entry... but hope you found it helpful.

About your question:

  1. bigE used H4 candle in a sense that if the cross happens 2hrs before and during London session, the trade will be taken. So it'd be best if you don't trade during Asian session.
  2. about how to know if the TDI is against or with the trend, we should use PA and S/R to determine because there will be time TDI cross back and forth when market is ranging, and gives a lot of fake signals. On H4, this less likely happens.
  3. the slope of the green TDI during the cross helps a lot, the steeper the better (as it indicates more momentum), 12-2o'clock or 4-6o'clock angle is recommended
  4. we all have different H4 candle depending on which time the broker is using, TDI is still a lagging indicator. On someone's chart, the cross has already happened while on other person's chart, the cross has not, and hence late entry. Only PA can help to overcome this.
  5. H4 trading, isn't like H1, we'll use last swing high/low for SL, so don't be surprise if market goes against you for > 50 pips before turning into favour. As a trade may last more than 1 week, counting > 200pips profits each.
  6. Same like you, I started out with H4 trading, but didn't like big SL and had some fail trades so now I rarely do H4. Maybe other people here can help you more on H4... Not sure if X-man felt the same so he created another rule to filter out bad H4 trades using blue band (see X-man super simple system)...
  7. If you want to be conservative on H4, you can wait by checking if price has crossed 5EMA (i.e. original bigE's 5EMA method before TMS). And trend is your friend, so if it's an uptrend and the cross is for short, we'll need to be more careful + apply more analysis before enter.



About take profits... 2 different views on TP:

  1. If on H1, simply use S/R of the week to determine area where price will hold and start ranging instead of continuing. e.g. if you have EU H1 this week short TP will be 3030-3040 area.
  2. If on H4, in addition of S/R from H4 and daily, we may need Fib + some fundamental/psychology level to take profits as they long term traders tend to use those to get out of the trades... and when they get out of the trade, price pulls back obviously.

back... and more dangerous.
  • #17,720
  • Apr 18, 2013 9:16am Apr 18, 2013 9:16am
EU H1 SL hit: -34pips

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A ranging London session with fail breakout.

Normally I'd go short now since TDI has crossed down and stoch down and on the other side of the breakout, but end of London session & support so need to sleep.


p/s: EU is nice, poke SL by 5 pips then goes back up, but doesn't matter. Happy with SL
back... and more dangerous.
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