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Trading Made Simple

  • #20,141
  • May 31, 2013 5:05am May 31, 2013 5:05am
Quoting Pervis
Hello Emmanuel, I sent you a PM, hope you got it?



ok, will check and reply later.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #20,142
  • Edited 6:57am May 31, 2013 5:31am | Edited 6:57am
My first TDI (0.1) lot

EDIT: At the point 20 pips up (late entry)
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  • #20,143
  • May 31, 2013 6:52am May 31, 2013 6:52am
Quoting thewriter30
My first TDI (0.1) lot {image}
using PASR, entry could have been on APB/HA candle#1 close.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #20,144
  • May 31, 2013 6:53am May 31, 2013 6:53am
reversalll!!!
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Daniel
  • #20,145
  • May 31, 2013 7:01am May 31, 2013 7:01am
Quoting Greenb
reversalll!!! {image}
wide ranging market condition ... swing highs, swing lows....not closing below 130.65
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #20,146
  • May 31, 2013 7:03am May 31, 2013 7:03am
Quoting emmanuel7788
{quote} wide ranging market condition ... swing highs, swing lows....not closing below 130.65
yeahh, but you could still let me scream out reversal, just because its the last trade for the month and im green hehehe
Daniel
  • #20,147
  • May 31, 2013 7:06am May 31, 2013 7:06am
Quoting Greenb
{quote} yeahh, but you could still let me scream out reversal, just because its the last trade for the month and im green hehehe

it is still intraday reversal on H1 ...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #20,148
  • May 31, 2013 7:07am May 31, 2013 7:07am
Quoting emmanuel7788
{quote} it is still intraday reversal on H1 ...
im intraday trader ;p

but point taken. that 132 level is the goal for me today
Daniel
  • #20,149
  • May 31, 2013 7:12am May 31, 2013 7:12am
Gracias Emmanuel
will re read PASR

(attached pdf for the benefit of others)
  • #20,150
  • May 31, 2013 7:40am May 31, 2013 7:40am
closed EJ for +20 pips because of the pullback. add in +45 pips from EU and i think ill call it a day.
+65 pips is not bad at all for someone that overslept
Daniel
  • #20,151
  • May 31, 2013 7:51am May 31, 2013 7:51am
opinions GU as we speak?
Short?
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  • #20,152
  • May 31, 2013 7:53am May 31, 2013 7:53am
Attached are my trades for the week....traded 2 pairs....EJ H1 and AU H1......most trades taken on price action (double tops or bottoms or pullback reversal patterns) with TDI confirmation. Most trades were taken during the early hours of London but there were a couple of Asian sessions trades. I have read some posts this week about some of you who had trouble finding trades to take. Price Action is the king and when you learn to read Price Action, with confirmation from the TDI, you will find plenty of trades.....

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  • #20,153
  • May 31, 2013 2:48pm May 31, 2013 2:48pm
Quoting rxJano
AUD/NDZ what happened here ? entered at red line and reveres hardcore. someone explain {image}
Reserve Bank NZ intervention possibly.

http://www.nzherald.co.nz/economy/ne...ectid=10887513
  • #20,154
  • May 31, 2013 9:53pm May 31, 2013 9:53pm
Quoting Phx62
Attached are my trades for the week....traded 2 pairs....EJ H1 and AU H1......most trades taken on price action (double tops or bottoms or pullback reversal patterns) with TDI confirmation. Most trades were taken during the early hours of London but there were a couple of Asian sessions trades. I have read some posts this week about some of you who had trouble finding trades to take. Price Action is the king and when you learn to read Price Action, with confirmation from the TDI, you will find plenty of trades..... {image}{image}
Hi Phx62,

I have been reading your pdf documents, some great info in them so thanks!

When reading PA what are you looking for apart from Double Tops/Double Bottoms/Hanging Man/Hammer/Inside Bar..do you look for or know any others that I should also look for? Do you look at Bullish/Bearish Engulfing?

Cheers

Paul
  • #20,155
  • Jun 1, 2013 5:37am Jun 1, 2013 5:37am
Quoting irishtoffy
{quote} Hi Phx62, I have been reading your pdf documents, some great info in them so thanks! When reading PA what are you looking for apart from Double Tops/Double Bottoms/Hanging Man/Hammer/Inside Bar..do you look for or know any others that I should also look for? Do you look at Bullish/Bearish Engulfing? Cheers Paul
study closly his charts,....

you will see there are BUEB, BEEB, also IB, DBHLC, DBHLC....
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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #20,156
  • Jun 1, 2013 10:45am Jun 1, 2013 10:45am
Thank you PHx62 for posting your charts, it gives us hope

Emanuel , do you recommend any book, site or whatever to learn about support and resistance and key levels, I always hear you guys talk about guy level support and resistance and speaks numbers in terms of support and resistance (like for example this level 1.29065 acts as strong support) in this language which I still don't seems to get , any help appreciate it

Thanks a lot
I Have Learned to Take Some Losses to Make Profits
  • #20,157
  • Jun 1, 2013 12:46pm Jun 1, 2013 12:46pm
hi everybody.
this is my best trade ever made. EURNZD 300 pips total. the spread is huge (17p) but decided to go for it. this is a demo account so its easy.
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emmanuel whats your opinion on leaving the trades open for weekends and/or new months?
i recall you closed all your trades before friday.
rgrds
Cfit
  • #20,158
  • Jun 1, 2013 1:24pm Jun 1, 2013 1:24pm
Quoting TheScorpS
Thank you PHx62 for posting your charts, it gives us hope Emanuel , do you recommend any book, site or whatever to learn about support and resistance and key levels, I always hear you guys talk about guy level support and resistance and speaks numbers in terms of support and resistance (like for example this level 1.29065 acts as strong support) in this language which I still don't seems to get , any help appreciate it Thanks a lot
Hi TheScorpS,

There are different approaches to trading the markets. The concept of support and resistance is widely used so is the concept of Supply and Demand. There is no correct or wrong in eiother of the concept. There are so many availabel resources and books written on these subjects.
But to get off with some basic understanding, babypips school is a good place to read up first. http://www.babypips.com/school/suppo...esistance.html

The the next hard part is to practise how to indentify S&R or S&D.

IMHO, there is no such thing as strong support. There is no yardstick to measure what is strong or weak. We see support being tested again and again, then market break that support and later returns to that support which then become resistance or vise versa. These sort of situations happens over and over again in the market.

Practise on your charts to identify significant swing points and use them as S&R.

regards,
EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #20,159
  • Jun 1, 2013 1:38pm Jun 1, 2013 1:38pm
Quoting Cfit
hi everybody. this is my best trade ever made. EURNZD 300 pips total. the spread is huge (17p) but decided to go for it. this is a demo account so its easy.{image} emmanuel whats your opinion on leaving the trades open for weekends and/or new months? i recall you closed all your trades before friday. rgrds Cfit
Cfit,

Very good trade. Well done 300pips and no drawdown. That's the way to trade.
You always factor in the spread into the trade plan and decision. R:R should take care of the spread.

Whether toleave trade open over the weekend depends on many factors.
1) if you have profit bank-in and trades are protected. I would leave trade open.
2) the market trend strength, if you see on your chart that there is strong price momentum before the week closes, I wold keep trades open but that usually depends how much of potential give back to the market the following week opening. Are you will to give back 50% of floating profits?
3) News and events over the week to consider. Do you recall the Dubai incident which happened on a Friday and there was a long weekend and holiday on the following Monday. Many traders were caught on Friday but could not doanything and sit through the weekend till market reopens. By Monday morning, many stock traders were caught and forex market went very volatile.
4) Type of trade - if we are trading 4H like Big E does, we closed our trade by Friday NY close. There will be new oportunities the next week re-open. Weekenda then are relaxing and stress-free.
5) If we have 4H trade and convert to short term position trades which can last for weeks, then it okay to hold trades over the weekend so long as we follow our own rules for position trading.

what events this weekend? Bernanke saying something as i know and RBNZ doing something too.... Hollande and Markel talking also to stamp the JPY , and
Month end candle???? I am afraid of .....

so these are risks.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #20,160
  • Jun 1, 2013 4:23pm Jun 1, 2013 4:23pm
Emmanuel, have a question for you

On Ej weekly chart, this week candle close, is it still visible to call it an IB or is it just an ordinary candle. If it is IB, to trade short i should wait for price to break previous week low?

On GJ, last week completed a bearish engulfing. yest this week close with an IB. Trading scenario should be the same as EJ then ya? Short after 151.50 close?
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Daniel
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