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Trading Made Simple

  • #18,301
  • Apr 26, 2013 7:03am Apr 26, 2013 7:03am
Quoting dee50
{quote} With that attitude it will not be long before you need one of these to go to the bank with. {image}
Thank you Sir
I Have Learned to Take Some Losses to Make Profits
  • #18,302
  • Edited 9:36am Apr 26, 2013 7:04am | Edited 9:36am
  •  Hcp
  • | Joined Feb 2008 | Status: Everything Has the Meaning You Give | 74 Posts
Hi all
Can someone tell me if this is a valid set up=)?
checked:
candle
could not wait to close bar but tdi is continuation
trend
higher tf
PA
R:R
thank you all,
thank you teacher Emmanuel7788, i had no time to response (still married) but want to tell your always right.

My wife is a Chemistry graduated at the University, also she is a teacher, and always says that the more she teaches, the more she learns.
Regards
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  • #18,303
  • Apr 26, 2013 7:59am Apr 26, 2013 7:59am
Patience pays, Closed half position at +38, rest moved SL to BE
  • #18,304
  • Apr 26, 2013 8:03am Apr 26, 2013 8:03am
Quoting Pipsmurfer
Patience pays, Closed half position at +38, rest moved SL to BE
Sorry, forgot the chart.
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  • #18,305
  • Apr 26, 2013 8:12am Apr 26, 2013 8:12am
Heads Up Going Long..Good Luck to all
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  • #18,306
  • Apr 26, 2013 8:38am Apr 26, 2013 8:38am
This trade went really well. Too bad I only took it with my demo account.

Attached Image (click to enlarge)
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  • #18,307
  • Apr 26, 2013 8:41am Apr 26, 2013 8:41am
Quoting driven18
Heads Up Going Long..Good Luck to all {image}
Dear driven, which pair is that?
I don't know about going long on that one yet...
I would wait for the candle to close first and see what PA says.

Pros
SHI channel bounce.
Strong support.
TDI coming from 32 level.
Stoch below 20.

Cons
PA looks weak with long wicks on both sides.
TDI angle looks weak... rather flat.

I would not have entered yet...

Cheers!
  • #18,308
  • Apr 26, 2013 8:50am Apr 26, 2013 8:50am
Quoting driven18
Heads Up Going Long..Good Luck to all {image}
dont know what pair it is so cannot fire up chart to comment
(if you want to, symbol can appear on chart by pressing F8 -> tick "Show OHLC")
back... and more dangerous.
  • #18,309
  • Apr 26, 2013 8:56am Apr 26, 2013 8:56am
Quoting kbp
{quote} dont know what pair it is so cannot fire up chart to comment (if you want to, symbol can appear on chart by pressing F8 -> tick "Show OHLC")

If you move your mouse over the chart there appears the name of the file. You can see it is USDCAD. Ofcourse it is easier if the poster write's down what pair he is trading,
  • #18,310
  • Apr 26, 2013 9:27am Apr 26, 2013 9:27am
Hi guys,

I want to share this interesting read I picked up from another thread in FF.

While you are reading this you might want to ask yourself... "Which stage am I at?"

Have a great weekend ahead.

Harlem
Attached File(s)
File Type: pdf A Forex Trader's Learning Cycle.pdf   188 KB | 699 downloads
  • #18,311
  • Apr 26, 2013 9:33am Apr 26, 2013 9:33am
Hey Everyone,

New to this but have been struggling to make good trades... been trying to follow the method.... I think I am trying to hard to be in a trade any advice on a way to keep myself from entering a bad trade that looks good on face value. I've been working on a chart for this will post soon. I would be interested to see feed back. I think it would really help me and what I am trying to do. I actually have it as a google doc if anyone would like to look at it have way I can add them and maybe get some feed back that way. just let me know. thanks everyone in advance.
  • #18,312
  • Edited 10:06am Apr 26, 2013 9:43am | Edited 10:06am
Hi Driven18,

If you are sure about the tms setup no necessary to wait for 3 & 18.But if you have doubst about it 18 is a good thing to check if you are on the right path and so is 3 & 18 cross or continuations.Look for explanations on the chart.As you see when 18 is flat tdi is also not showing much.Sometimes it may make you enter late but it will also save you from making mistakes.Try it for a few weeks and write down how many times it made you late and how many times it saved you then decide.To me it gives confidence in my trades.Look at your chart if tdi cross down showing short trade and 3 18 cross down or 3 below 18 showing continuation it is a perfect short trade and the opposite for longs.

Hope it helps,

Okan


Quoting driven18
okanemici, at times TMS already crossed few bars before 3 crosses 18 back, are you suggesting to wait for 3 crossing 18 and only then enter? then we may have late entries on 3rd or 4th candle.....please explain...
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  • #18,313
  • Apr 26, 2013 9:43am Apr 26, 2013 9:43am
Took this trade after break of previous candles, RN 128.000 , and break bellow weekly resistance the purple line

TDI already crossed and heading downward to oversold zone

PA draw-down was almost up-to -19 pips , but not more so I stayed into the trade, finally price move into my favor and exited the trade with + 20 pips

Thanks to you all respected members , Thanks Phx62, Dee 50 , Emmanual for all the help and support you have put in to see us see the light in trading
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I Have Learned to Take Some Losses to Make Profits
  • #18,314
  • Apr 26, 2013 9:50am Apr 26, 2013 9:50am
This was not a good trading week to me- a big test of patience. Pairs I trade moved sideways not leaving much room to trade. Total of 3 trades, none reached TP nor SL, just closed them after 4 hours due to TDI tweaks, or at BE. Anyway, what I am going to ask you Dear Experience Traders are these 3 situations:

From the top:
GBP/USD H4 @ 10:00 GMT
USD/CHF H4 @ 10:00 GMT
USD/CAD H4 @ 14:00 GMT

None of these trades worked out. These were really nice examplse of the cross above/below 68/32 . I know it was counter trend, but the crosses were so pretty? What rules do you use to filter out this kind of entries?

Thanks!
M.
http://www.forexfactory.com/attachme...4&d=1366987460
Attached Images
Remember I'm a newbie!
  • #18,315
  • Apr 26, 2013 10:00am Apr 26, 2013 10:00am
Quoting Pipsmurfer
{quote} Sorry, forgot the chart. {image}
TP2 at + 86, still 1/3 of position open and SL moved to -40 of current price
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  • #18,316
  • Apr 26, 2013 10:08am Apr 26, 2013 10:08am
Quoting Ozforex13
{quote} I usually go for the closest support but in this case I don't have the support till 93.26 level which is way down. The way the big timeframes are at the moment for this perticular pair, I wont go for that support to take my profit. However I put a 20 to 30 target as my first TP. Then I will use trailing stop. Here is an update on my chart. I have locked 11 pips in. {image}
I got tp at 9403, almost to the pip ;-)

Have a great weekend everyone, and here's to hoping next week is more volatile!

Didn't do as well as last week but still made about 50 pips in all...
@pawpaw1000 on Twitter
  • #18,317
  • Apr 26, 2013 10:19am Apr 26, 2013 10:19am
Quoting mierzyk
This was not a good trading week to me- a big test of patience. Pairs I trade moved sideways not leaving much room to trade. Total of 3 trades, none reached TP nor SL, just closed them after 4 hours due to TDI tweaks, or at BE. Anyway, what I am going to ask you Dear Experience Traders are these 3 situations: From the top: GBP/USD H4 @ 10:00 GMT USD/CHF H4 @ 10:00 GMT USD/CAD H4 @ 14:00 GMT None of these trades worked out. These were really nice examplse of the cross above/below 68/32 . I know it was counter trend, but the crosses were so pretty?...
Thing is, you could see the market was quite dead this week besides GBPUSD GDP ramp. It is times like these you need to batten down the hatches and just stick it out. Look for breakout trades instead of momentum inside range.

I'll give you some examples:

Attached Image (click to enlarge)
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Look at that GBPUSD chart, market was waiting for GDP data whole week, when it came it should have been easy to jump on the train and look for the highs? That would get you at least 100 pips... From TMS perspective, I actually got in on the last TDI cross for a long but got out too early even as I was still getting good APB bars but hey, lesson learnt.

Thing is, trading isn't always as clear cut as 1 2 3, sometimes you need a little bit of cunning to weather the markets.

That said, market will probably be the same next week as we have bank holidays and little news. Try some news trading on CAD GDP or something else, add more tools to your toolbox, they always come in handy.

The market can wear you out or scare you out, so you have to be real sly to make it ;-)
@pawpaw1000 on Twitter
  • #18,318
  • Apr 26, 2013 11:12am Apr 26, 2013 11:12am
Thanks emmanuel7788 for the Info you have and are putting out. This helps a lot.
  • #18,319
  • Edited 11:48am Apr 26, 2013 11:23am | Edited 11:48am
Quoting verouchi
Hey Everyone, New to this but have been struggling to make good trades... been trying to follow the method.... I think I am trying to hard to be in a trade any advice on a way to keep myself from entering a bad trade that looks good on face value. I've been working on a chart for this will post soon. I would be interested to see feed back. I think it would really help me and what I am trying to do. I actually have it as a google doc if anyone would like to look at it have way I can add them and maybe get some feed back that way. just let me know....
Hi Verouchi,
It be good if you can upload your chart so we can analyse it.
But what i think happens, which btw happens to me too sometime, is that you are too eager
Which eventually lead to you seeing the chart the way you want to just to enter the trade

My advise, is to use a checklist

Hope this help

*edit: posted the checklist
Attached Image
Daniel
  • #18,320
  • Apr 26, 2013 11:24am Apr 26, 2013 11:24am
This might be a good short gold trade !!! I wait for a small pulback to 1464 to enter or will try with a 3 18 cross down if that doesnt happen.
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