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Trading Made Simple

  • #18,941
  • May 8, 2013 10:03am May 8, 2013 10:03am
Quoting Pervis
Hello trader, do you want to take this trade? Triple bottom, MBL up, 50% last swing and TDI confirm {image}
http://www.forexfactory.com/attachme...4&d=1368008825


Change final TP to TP1 but still can not reached. Decide close manual before LO close for 50 pip.
Attached Image (click to enlarge)
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  • #18,942
  • May 8, 2013 10:07am May 8, 2013 10:07am
Quoting redfan
{quote} 30 mins and 1 hour is over sold i would wait.
Thank you redfan, so you are also looking at the LT charts before entering. I was in the understanding that I only needed to check the weekly timeframe before entering to check the trend.
  • #18,943
  • May 8, 2013 10:17am May 8, 2013 10:17am
Quoting Pervis
{quote} {image} Change final TP to TP1 but still can not reached. Decide close manual before LO close for 50 pip. {image}
Nice Trading there, Pervis. What is that EA you are using. Is it helpful?
  • #18,944
  • May 8, 2013 10:35am May 8, 2013 10:35am
Quoting gegeorge
{quote} Nice Trading there, Pervis. What is that EA you are using. Is it helpful?
You can use two line below for this EA. I only use this EA when I'm not monitor the trade. It's good for me

EA:
http://www.forexfactory.com/showthre...00#post5605800

Guideline:
http://www.forexfactory.com/showthre...00#post6641800
  • #18,945
  • May 8, 2013 11:03am May 8, 2013 11:03am
market ranged from assian to london session. entered trade on breakout of range. Set tp at weekly high. No short trades. Daily low was long ways away and 200 ema was near.

any advice appreciated
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  • #18,946
  • May 8, 2013 11:04am May 8, 2013 11:04am
London P/L:60
New York P/L: 0
Daily total:60

London P/L:550
New York P/L:-60

Aggregate Trades: 126
Aggregate P/L: 490
  • #18,947
  • Edited May 9, 2013 8:23am May 8, 2013 11:21am | Edited May 9, 2013 8:23am
Quoting Estupido
{quote} Thank you redfan, so you are also looking at the LT charts before entering. I was in the understanding that I only needed to check the weekly timeframe before entering to check the trend.

I check the day and weekly first thing in morning.

I also look at LT before entering. 30/80 levels tdi cross.
Stochastic price action S&R.then i am ok to go.


Can't seem to be able to post in TMS thread.Some think is wrong.
Time now 16.13UK the only way is to edit a old thread.
  • #18,948
  • May 8, 2013 12:03pm May 8, 2013 12:03pm
Today's trades:

I took these 2 trades on the 4HR. I use the Weekly candle color as the trend indicator. Right now on the GBP/USD and GBP/JPY Weekly, they are white (bullish). I waited for a reset of the TDI (green line comes below the 50% line) which tells me there has been a sufficient pullback in the immediate trend (4HR). Perfect TMS set up. I took 37 on G/U and 40 on G/Y. I do not use the Daily, just the Weekly to confirm the trend.

Hope that helps.
Attached Image(s) (click to enlarge)
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Without vision, the people will perish.
  • #18,949
  • May 8, 2013 12:06pm May 8, 2013 12:06pm
Daily and weekly charts of AU are in down trend and I expect bad employement figures (in about 6,5 hours from now). Do you think it is a bad idea to set my alarm tonight to check the employement figures (I am from the Netherlands) and if they are indeed bad to enter as soon as TDI confirms on H4 chart?
  • #18,950
  • May 8, 2013 12:33pm May 8, 2013 12:33pm
Quoting bythepound
Today's trades: I took these 2 trades on the 4HR. I use the Weekly candle color as the trend indicator. Right now on the GBP/USD and GBP/JPY Weekly, they are white (bullish). I waited for a reset of the TDI (green line comes below the 50% line) which tells me there has been a sufficient pullback in the immediate trend (4HR). Perfect TMS set up. I took 37 on G/U and 40 on G/Y. I do not use the Daily, just the Weekly to confirm the trend. Hope that helps. {image} {image}
Hi Bythepound,

Currently the Weekly on the AUDNZD is bearish and the TDI on the 4H chart is on its way to cross just below 68 level. Should this be an entry you should take?

Thanks,
Estupido
  • #18,951
  • May 8, 2013 1:10pm May 8, 2013 1:10pm
Attached Image (click to enlarge)
Click to Enlarge Name: audusdh4.jpg Size: 129 KB


Great place to short AUD/USD
  • #18,952
  • May 8, 2013 1:15pm May 8, 2013 1:15pm
Same with AUD/CAD
  • #18,953
  • May 8, 2013 1:37pm May 8, 2013 1:37pm
emmanuel7788,

Considering TMS, can you please share your opinion what should be done in the following PA:

GBP/USD H4 entry made on 16th of April 6:01 GMT

First screenshot is taken at the time of opening position, 1 minute after 6:00 GMT. It looks even better than good.
4 hours later I see a reversal that changes TDI. Imagine the TDI after the bar named "possible exit" has closed. I remember was poiting steeply down giving decent short TDI bounce entry. At that point I have decided to bail my entire position, not allowing the price to hit my SL placed below the triple bottom.

Similar PA happened to me like 2-3 times. I have read in one of the posts that trader should close the position when TDI tweaks in such a way. Sometimes closing position is a good solution, sometimes not. That is why I ask. What would be your recommendation in such a case?

Thankyou!
M.
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Remember I'm a newbie!
  • #18,954
  • May 8, 2013 1:58pm May 8, 2013 1:58pm
I would normally, but I avoid employment news. I am staying out.

Quoting Estupido
{quote} Hi Bythepound, Currently the Weekly on the AUDNZD is bearish and the TDI on the 4H chart is on its way to cross just below 68 level. Should this be an entry you should take? Thanks, Estupido
Without vision, the people will perish.
  • #18,955
  • May 8, 2013 2:00pm May 8, 2013 2:00pm
Quoting mierzyk
emmanuel7788, Considering TMS, can you please share your opinion what should be done in the following PA: GBP/USD H4 entry made on 16th of April 6:01 GMT First screenshot is taken at the time of opening position, 1 minute after 6:00 GMT. It looks even better than good. 4 hours later I see a reversal that changes TDI. Imagine the TDI after the bar named "possible exit" has closed. I remember was poiting steeply down giving decent short TDI bounce entry. At that point I have decided to bail my entire position, not allowing the price to hit my SL...
Hi Mierzyk,

I am interested in his answer as well but in the weekly of the 16th of april was bearish. Shouldn't you avoid to trade against the trend of the week? I am a newbie so I can be totaaly wrong.
  • #18,956
  • Edited May 9, 2013 12:06pm May 8, 2013 2:07pm | Edited May 9, 2013 12:06pm
Closing in on 10% for the week!!

Trades opened - Updates
USDCHF - Took some profit for 1R (2%).. left rest at BE

Attached Image (click to enlarge)
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GBRUSD - closed whole position 1.5R (3%). Wary of resistance just above

Attached Image (click to enlarge)
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  • #18,957
  • May 8, 2013 2:12pm May 8, 2013 2:12pm
mierzyk , AUDUSD and AUDCAD, not a good place to short...TDI at 32
  • #18,958
  • May 9, 2013 10:17am May 9, 2013 10:17am
Took two trades today...

Went short GBPUSD and have taken 30% off the table watching what it does into the close as a good daily close could point to some further downside!

Attached Image (click to enlarge)
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and I went short EURJPY wanting to ply the Euro weakness but seems it was more Dollar strength than anything else! Lost 25 pips

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Got short on that bearish engulfing and when my TL held, I bailed...
@pawpaw1000 on Twitter
  • #18,959
  • May 9, 2013 10:18am May 9, 2013 10:18am
Hello,

right now i have run two longs on GJ.
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  • #18,960
  • May 9, 2013 10:21am May 9, 2013 10:21am
@pawpaw , nice short on GU i miss it.
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