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Trading Made Simple

  • #20,321
  • Jun 7, 2013 2:41am Jun 7, 2013 2:41am
Quoting Greenb
So i have a question for everyone.
for me tdi angle is not right on 15m
  • #20,322
  • Jun 7, 2013 3:02am Jun 7, 2013 3:02am
Quoting G.Grillz
{quote} which time frame ?! i guess 1H , cuz its kinda alot for 4H bt still do u knw 68% is good , u knw u can wish that trading stocks and options
yeap 1h tf, 68% may be good in stock. but its not good enough for forex, well for my own standard.
i want at least a 75% target is 85%. i think i just need to slow down a bit and not try almost every trade that looks promising.
rather i should just go for trades that are promising
Daniel
  • #20,323
  • Jun 7, 2013 3:28am Jun 7, 2013 3:28am
Quoting Greenb
{quote} yeap 1h tf, 68% may be good in stock. but its not good enough for forex, well for my own standard. i want at least a 75% target is 85%. i think i just need to slow down a bit and not try almost every trade that looks promising. rather i should just go for trades that are promising

well if want 75% u can only choose A+++ trades which doesnt happen many times per month so u might get frustrated with that too, anyway if u trade 8 currencies would be fine atkeast get a signal per day if not more


btw MM question : im looking at oanda as da only one who offers lots less than micro , lets 0.01 is 1 cent , is there 0.001 ?? cuz i wanna trade daily tf too which stimes go as 400+ SL so any suggestion ??
  • #20,324
  • Jun 7, 2013 3:58am Jun 7, 2013 3:58am
Quoting Greenb
So i have a question for everyone. below is the 1h and 15min chart of EJ as you can see EJ move down really fast in Asian session not too long ago. and then we see the pullback bar on the 15 min chart, and soon we will see it on 1h chart assuming the close of 15 min chart is still 127.70 my question is, will you go on long trade? how risky will it be? and reasoning btw, any answer is appreciated..please don't lurk around the forum and does nothing {image} {image}
From yesterday down move, my bias for today is short on EUR/JPY
I Have Learned to Take Some Losses to Make Profits
  • #20,325
  • Jun 7, 2013 6:52am Jun 7, 2013 6:52am
Good evening to all.. interesting week, although no real TDI trades for me I took snapshots and look the next day and most of them were a few pips or losses. I guess I need to keep reading. Keep posts coming.

hope my pictures help someone

ps: CADJPY would have been the trade of the month (W1) AUD CHF h4 a loss
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  • #20,326
  • Jun 7, 2013 6:58am Jun 7, 2013 6:58am
Thanx everybody for your charts and explanations. Please keep them coming
.... laughing all the way to the bank
  • #20,327
  • Jun 7, 2013 7:01am Jun 7, 2013 7:01am
Hi, I an new here ,I have some question, Did any body know?
I entered a trade when the green cross the red In A new candle in 1 hours TF,but some minutes later the green turn to flat,How it does?It get confused me.
  • #20,328
  • Jun 7, 2013 7:39am Jun 7, 2013 7:39am
Quoting jamesgbh
Hi, I an new here ,I have some question, Did any body know? I entered a trade when the green cross the red In A new candle in 1 hours TF,but some minutes later the green turn to flat,How it does?It get confused me.

first since you r new focus on higher tf , best for u is 4H , bt plz backtest it

second if you saying you entered on 2nd candle and it gets flat , you need to check Price action well juz to make short for check higher and lower tf , if higher is saying the trend is one side and you took counter then you knw why , if trend is with you bt lower says it reverse then dont worry if 1h and 4hr on same trend juz widen your stop

btw it happens alot that not only tdi will get flat bt reverses thats why u need to check basic things, and word to you , maybe reading more than 1000 page is too much for you bt blv me when i say it will teach u alooooot

backtest , demo , backtest , know basic forex stuff , seriously you will get going


juz my 2 cents
  • #20,329
  • Jun 7, 2013 7:49am Jun 7, 2013 7:49am
Quoting jamesgbh
Hi, I an new here ,I have some question, Did any body know? I entered a trade when the green cross the red In A new candle in 1 hours TF,but some minutes later the green turn to flat,How it does?It get confused me.

btw im not expert im new juz like you bt nw im over ayr reading and demo


i hope this helps , and our expert friends will correct me if i said sth wrong


cheers
G.Grillz
  • #20,330
  • Jun 7, 2013 8:02am Jun 7, 2013 8:02am
Quoting jamesgbh
Hi, I an new here ,I have some question, Did any body know? I entered a trade when the green cross the red In A new candle in 1 hours TF,but some minutes later the green turn to flat,How it does?It get confused me.

James, If you wan't good answers then please post an image of the chart. Then we can give an opinion abouy your trade.
  • #20,331
  • Jun 7, 2013 8:29am Jun 7, 2013 8:29am
Just introducing myself to the thread, been reading it for quite a while now so thought I would actually post. Thanks for all the examples especially those of phx62 and others, brilliant trading going on here. Look forward to posting more.
  • #20,332
  • Jun 7, 2013 10:10am Jun 7, 2013 10:10am
"Trading made simple" or "Simply don't trade"...I like this system but in all reality looking for A+++ trades you're lucky if you get two trades a month...which is fine I guess. But overall you're not gonna be making very much money with this system unless you're trading standard lots. Most of the time when you think a set-up is occurring it is counter trend and there's mostly support and resistance not too far away...so overall I guees it's a pretty safe effective system...but you'll be out of the game most of the time as most moves are happening.
  • #20,333
  • Jun 7, 2013 10:15am Jun 7, 2013 10:15am
...and a lot of times before the green crosses red the majority of the move has already taken place. Anyone else notice that?
  • #20,334
  • Jun 7, 2013 10:42am Jun 7, 2013 10:42am
Quoting rwr
...and a lot of times before the green crosses red the majority of the move has already taken place. Anyone else notice that?
Try going down to 15 min in the direction of the 1 hr
Trade what you see .
  • #20,335
  • Jun 7, 2013 12:16pm Jun 7, 2013 12:16pm
Quoting dano858
{quote} Try going down to 15 min in the direction of the 1 hr
Thanks dano...but I'm thinking hourly in direction of 4h...15m for entry?
  • #20,336
  • Jun 7, 2013 12:30pm Jun 7, 2013 12:30pm
Quoting G.Grillz
{quote} first since you r new focus on higher tf , best for u is 4H , bt plz backtest it second if you saying you entered on 2nd candle and it gets flat , you need to check Price action well juz to make short for check higher and lower tf , if higher is saying the trend is one side and you took counter then you knw why , if trend is with you bt lower says it reverse then dont worry if 1h and 4hr on same trend juz widen your stop btw it happens alot that not only tdi will get flat bt reverses thats why u need to check basic things, and word to you...
Never ever widen your stop. When you put your stop on the start if trade, you put your stop for a reason. That is to preserve your capital. If prices goes back on you, that means you have made a mistake somewhere. It is therefore better to lose that initial sl than widening it in hope that price may change back to your direction.

Im not saying that price never do a u turn twice. However the moment you widen that stop you have change the whole trade into a gamble.

p.s depending on the air, a 30 pip sl is enough to tell you if you are right or wrong. For example EU, if it pulls back 20 pips right after i enter, i know immedietly that i have made a mistake somewhere.


Greenb
Daniel
  • #20,337
  • Jun 7, 2013 1:40pm Jun 7, 2013 1:40pm
Quoting G.Grillz
{quote} well if want 75% u can only choose A+++ trades which doesnt happen many times per month so u might get frustrated with that too, anyway if u trade 8 currencies would be fine atkeast get a signal per day if not more btw MM question : im looking at oanda as da only one who offers lots less than micro , lets 0.01 is 1 cent , is there 0.001 ?? cuz i wanna trade daily tf too which stimes go as 400+ SL so any suggestion ??
400+ pips is around what $4 for micro? cmon bro, i'm sure you can spare $4 a week for a trade. price don't move in 1 direction for 400 pips unless it is trending. and if it is trending, what are you doing putting your sl on the wrong side of trend, right?

A+++ may not happen too many times a month, but at least 4 times a month. A++ trades on the other hand happens more often. Beside, you don't wait for it. When you get in the trade you get in and hope for the best and prepare for the worst. There is no such thing as predicting how good a trade will be, cause most often than not, it will fail you. You take what the market decide to give you.

Waiting for a right setup is good, is what we all should do. However waiting for that perfect setup is useless. Unless you have precognition ability, you will never know which setup is the perfect perfect setup that brings in 150-200 pips the moment you enter. Also you miss out on all the other smaller trade. Even 25-50 pips daily is better than a 200 pips once a month setup.

I hope you get what i'm trying to say here

Greenb
Daniel
  • #20,338
  • Jun 7, 2013 2:10pm Jun 7, 2013 2:10pm
1st of all, thank you for the 3 people that decided to answer my question.

they say hindsight is always 20/20 eh. Its been said that on 1h chart, PA is king. Below are 2 perfect example

so my question was, if anyone will go long on that setup. All of you in one way or another said no. and please there is no right answer or wrong answer here. True that counter trend is usually not a friend and from yesterday the bias is down.

However, what im trying to do here is to show that sometimes counter trend is worth it, especially when it has minimal risk.

On that pullback i mentioned on earlier post, notice how it close above that red support line (127.58)? also notice how that line was hit on NY market yesterday and price pulls back sharply? And if we are to go to higher TF chart, we will see that there is a lot of ranging action around this line.

Another factor on that pullback candle is how large that pullback is. The asian market moved 216 pips yesterday, at the start of that pullback candle, it has gone 116 pips. The pullback candle goes down 100 pips more and it bounces up and close 1.3 pips lower. In this case, this candle tell us a story. A story about how the bear was taking a huge huge beating from the bull.

Now, normally just on any of this factor alone, i would say mehhh...
However, when this 2 factors are combine together, we have what i like to call a safe high risk setup. So price just pulls back 100 pips, means that market doesn't like it at all. Add in that it closes 12-15 pips away from that support it failed to grab hold of. Now, using that 2 factors, i can go long and set my sl 4-5 pips under that support line. The worst that can happen, is i lost my 20 pips sl. The best thing that could happen, is price retrace back up and hit the resistance line (128.941/129)

so whats my R:R? 20 pips risk: 120 pips reward = awesomeness in progress

Now of course as the story goes it did not hit the resistance line, but it does come close. and if you have taken the trade, i beleive you would have gotten 50 pips easy.

Few hours after, on the start of NY session, we see another pullback candle. This one is not as strong as the pullback we have during Asian session, however a pullback is a pullback. There is however a news coming out 30 mins after this candle. Its not just any news either, its the dreaded NFP. So no trade on right after that pullback.

30 mins after news comes out,we have a new candle and our entry. Where would sl be? right under the yellow line for 35 pips. And this time, it hit our resistance line at (128.941/129) = 145 pips.


P.S this works only on 1h chart because all analysis are done in 1h chart
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Daniel
  • #20,339
  • Jun 7, 2013 2:36pm Jun 7, 2013 2:36pm
Quoting rwr
"Trading made simple" or "Simply don't trade"...I like this system but in all reality looking for A+++ trades you're lucky if you get two trades a month...which is fine I guess. But overall you're not gonna be making very much money with this system unless you're trading standard lots. Most of the time when you think a set-up is occurring it is counter trend and there's mostly support and resistance not too far away...so overall I guees it's a pretty safe effective system...but you'll be out of the game most of the time as most moves are happening....

go back to the 1st page and read everything. look at post#2 where Big E posted his chart. does that look like only 2 trades a month?
Daniel
  • #20,340
  • Jun 7, 2013 3:44pm Jun 7, 2013 3:44pm
It would be so great if someone could give me the link of a great guide about price action

Thans in advance
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