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Trading Made Simple

  • #20,181
  • Jun 2, 2013 11:03pm Jun 2, 2013 11:03pm
hi guys and good morning


i hv very simple question here which wated few hourss of time. i was going thru week planning which i started from monthly charts , quite similar to what emmanuel7788 was talking about , anyway i put so many S&R lines on monthly ,weekly and dailty using line charts and candlesticks so finally when i switched to my TMS templete I LOST EVERYTHING



usually i do it on same temp bt i wanted to utilize line and candlesticks since for now im trading single pair
  • #20,182
  • Jun 2, 2013 11:15pm Jun 2, 2013 11:15pm
Quoting G.Grillz
hi guys and good morning i hv very simple question here which wated few hourss of time. i was going thru week planning which i started from monthly charts , quite similar to what emmanuel7788 was talking about , anyway i put so many S&R lines on monthly ,weekly and dailty using line charts and candlesticks so finally when i switched to my TMS templete I LOST EVERYTHING usually i do it on same temp bt i wanted to utilize line and candlesticks since for now im trading single pair

no easy way about it, you have to redo them. next time though, you can save all your SR lines as templates. So just create a TMS EU SR, TMS GU SR etc
Daniel
  • #20,183
  • Jun 2, 2013 11:22pm Jun 2, 2013 11:22pm
Quoting Greenb
{quote} no easy way about it, you have to redo them. next time though, you can save all your SR lines as templates. So just create a TMS EU SR, TMS GU SR etc

logical way and easy ........ also i tried to rebuild the whole templete starting frm line charts bt if you need to review you candlestick lines u will start again.

thanks btw
  • #20,184
  • Jun 2, 2013 11:37pm Jun 2, 2013 11:37pm
Quoting Vladbold
First of all, good morning ( 5 AM here ) , and i wish everyone a great week. Emmanuel, i have 1 question. I've been re-reading Phx62's studies , showing his trades on e/u. His setups look really good, but i don't seem to find equally good setups in the last 2-3 months. Am i looking for moves that are too big, or has the e/u slown it's pace ?
Hi Vladbold,

First, we all should know that Phx62 is a master trader for the EU pair. He has traded this EU pair for very long time and he know the characteristics of EU and market behaviour.

One of the prep work for our trading is to do our Big Picture planning and also some form of analysis of every currency pair we want to trade. Knowing the market condition and the market type we trade in is very important for us to be able to make our dailiy trading plan which includes knowing our SL and TP planning.
How do I approach this is simply to study the average traded range of the currency pair over the last 100 days and 20 days and look at the recent days.
A simple way is to use the ATr indcator which is standard in all trading platform. Below is an example using MT4.
Details are on the post chart below. Once you have done the ATR setup , you must save that as a template and give that a name you can remember. Apply that template to any currency pair later and do more study.

EU - as you can see EU is in very narrow range since March this year. Once that ATR(20) days drop below the ATR(100) days we are in trouble if we expect to make 100pips per day. The average day traded range is below 75pips, so expect to get only 60% of that.

Therefore, I began my study and use the TOK_5H high-low range as one way to look for breakout trades. When the TOK_5H is below 35 pips , this will have potential and give a good breakout trade from the time period starting 1 -hour before Frankfurt open till London closes. When you apply this technique in H1, you need to be mindful that trading H1 is more Price Action over TMS rules.
In trading H1 - PA is King and TDI is to confirm the PA. You need good reading of Candlestick patterns and how to trade them, plus you need to know where Support and Resistance are. You need to know a few common PA Candlsticks -
Inside Bar (IB) ,
Bullish/ Bearish Engulfing Bars(BUEB/BEEB) ,
Bullish / Bearish Outside Bars (BUOB/BEOB) ,
Double Bars High Lower Close (DBHLC) and
Double Bars Low and Higher Close (DBLHC)
Please learn and apply all these and you will know why Phx62 is so succesfful with H1 trading.

Trade Well folks.

EMMANUEL
Attached Image (click to enlarge)
Click to Enlarge Name: EU trading range study .png Size: 131 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #20,185
  • Jun 2, 2013 11:47pm Jun 2, 2013 11:47pm
Quoting G.Grillz
{quote} logical way and easy ........ also i tried to rebuild the whole templete starting frm line charts bt if you need to review you candlestick lines u will start again. thanks btw
Hi Grillz,

The better way is to create a new chart and draw all the historical S&R and then qucikly save that as as template for the currency pair giving it a name for example " EURUSD Big Picture week 23". This template is only for EU specific.
Then you add the TDI and APB indicators. EMA5, Prev D and Prev W fib, etc. after that. You can switch between Candlestick Chart, to Bar Chart and Line charts without any problem to the S&R lines drawn.
Once you are happy with what you see, you saved again this EU pair template unique.

You can also use the indiactors properties to set the visualisaton ionf different timeframes if you do not want to see the PAb in higher TF like W and MN for example.

A lot of these features are in MT4 charting.

Try it and if you still find difficulties, let me know here.

Thanks.

I can post all my created Big Picture templates, but if I do this, many others will not learn how to use MT4 to the fullest.


EMMANUEL.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #20,186
  • Jun 2, 2013 11:56pm Jun 2, 2013 11:56pm
Eu and GU TOK_5H breakout trading today.

Just look at your charts, when this current H1 closes, check what the 5H high - low range is and draw a box across your H1 chart for today.
If the 5H ranege is 35 and less, the potential is there for a good intrady trade.
Try it.
Remember H1 trading ... PA is king and TDI is to confirm with a cross. Look for PA CSP and S&R.
Also there are situation when a TDI almost cross turn into a bounce.... how to know this?


CSP=CandleStick Pattern.

Good Trading.

EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #20,187
  • Jun 2, 2013 11:57pm Jun 2, 2013 11:57pm
The question is. will it break from range, or will this be a short lived short till range. decision decision decision

it does show bearish engulfing on the h1.
Attached Image (click to enlarge)
Click to Enlarge Name: ej 1h.gif Size: 67 KB
Daniel
  • #20,188
  • Jun 3, 2013 12:08am Jun 3, 2013 12:08am
Quoting Greenb
{quote} no easy way about it, you have to redo them. next time though, you can save all your SR lines as templates. So just create a TMS EU SR, TMS GU SR etc
I stumbled on the same hurdle this weekend. The only solution I found was to set the APB and MA to only show up on lowest timeframes and then select line chart while drawing the SR lines. Worked pretty well.
  • #20,189
  • Jun 3, 2013 12:11am Jun 3, 2013 12:11am
Quoting Greenb
The question is. will it break from range, or will this be a short lived short till range. decision decision decision it does show bearish engulfing on the h1. {image}
statistics and back-testing shows that the breakaway for the TOK_5H range are above 2R trades R being the TOK_5H range in pips.

the difficulty is how the pick the trade with god TIMING and to avoid that first 'false breakout' and wait for the reverse direction .

its all boils down to the skills in reading PA and applying in multi-timeframe analysis and reconciling the candles.

my fav pic below.
Attached Image
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #20,190
  • Jun 3, 2013 12:11am Jun 3, 2013 12:11am
Quoting hson
{quote} I stumbled on the same hurdle this weekend. The only solution I found was to set the APB and MA to only show up on lowest timeframes and then select line chart while drawing the SR lines. Worked pretty well.


yes yes yes
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #20,191
  • Jun 3, 2013 12:28am Jun 3, 2013 12:28am
Quoting emmanuel7788
{quote} statistics and back-testing shows that the breakaway for the TOK_5H range are above 2R trades R being the TOK_5H range in pips. the difficulty is how the pick the trade with god TIMING and to avoid that first 'false breakout' and wait for the reverse direction . its all boils down to the skills in reading PA and applying in multi-timeframe analysis and reconciling the candles. my fav pic below. {image}
i have not back test TOK-5H on EJ or GJ yet, so im not too confident about that range. what i did though is to set tp pretty close to yesterday (last week Friday) low. Since i got in using the 1H entry and pattern. i will monitor it hourly and decide if it has enough momentum or no. If it has enough momentum, ill erase that tp and play it manually, otherwise tp it is.

The one thing im not too sure about is that the bottom of the range has been tested since last week about 4 times. and it seems that last week market rather bias to testing the low of the range. Which is what got me thinking. With so many retest. will this be a "lets destroy this support" test or the "i'm gonna poke if it bites, i'm running away" test.
Daniel
  • #20,192
  • Jun 3, 2013 1:32am Jun 3, 2013 1:32am
Hi!
Good trading for every body.
Breakout but near R .
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 17 KB
  • #20,193
  • Jun 3, 2013 2:00am Jun 3, 2013 2:00am
Quoting BernhardA
Hi all, I came to the conclusion that I need to learn some more basics. This weekend I choose the candle patterns. As I am not good in learning at the computer I did some handicraft work and printed each pattern on a card: front side the pattern & backside the name and direction. Feel free to adjust or directly use my attached document: just print it both-sided and cut it at the line. I recommend to use thick paper e.g. 200gr. Cheers Bernhard {file}{image}{file}
Nice one Bernhard, I did a similar thing for the same reason, yours are better than mine though so I'll use them instead.

Thanks for that!
Don't ask me, I have no idea what's going on.
  • #20,194
  • Jun 3, 2013 3:27am Jun 3, 2013 3:27am
TMS 4H setups week 23 on 3 Jun :

Here are some setups what I saw since NY open.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: TMS 4H setups MAJ week 23 3 Jun.png Size: 126 KB
Click to Enlarge Name: TMS 4H setups EUR pairs week 23 3 Jun .png Size: 119 KB
Click to Enlarge Name: TMS 4H setups GBP pairs week 23 3 Jun.png Size: 129 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #20,195
  • Jun 3, 2013 3:47am Jun 3, 2013 3:47am
Learn how to trade Bullish and Bearish Engulfing Bars BUEB and BEEB:...

click here!

Enjoy!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #20,196
  • Jun 3, 2013 3:54am Jun 3, 2013 3:54am
Quoting emmanuel7788
TMS 4H setups week 23 on 3 Jun : Here are some setups what I saw since NY open. {image} {image} {image}
NY opens early today...........
  • #20,197
  • Jun 3, 2013 4:12am Jun 3, 2013 4:12am
When do you break TMS rules when trading?
Attached Image (click to enlarge)
Click to Enlarge Name: TMS and PASR in Market Type.png Size: 81 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #20,198
  • Jun 3, 2013 4:21am Jun 3, 2013 4:21am
GMT0900 London 1000 now:

with Tokyo closed, now the London boys take control... H1 traders do you see what I see for AU, EU, GU and UChf?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #20,199
  • Jun 3, 2013 4:28am Jun 3, 2013 4:28am
Quoting emmanuel7788
GMT0900 London 1000 now: with Tokyo closed, now the London boys take control... H1 traders do you see what I see for AU, EU, GU and UChf?
uCHF = buovb

UA = IVB

EU = ?
GU = ?
  • #20,200
  • Jun 3, 2013 4:48am Jun 3, 2013 4:48am
Quoting thomi
{quote} uCHF = buovb UA = IVB EU = ? GU = ?

well, let's wait and see how many see the same ....
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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