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Trading Made Simple

  • #20,781
  • Jun 18, 2013 4:11am Jun 18, 2013 4:11am
When I'm looking for a trade, I tend to watch the lower timeframes as well to confirm if the momentum is right. So a perfect setup on the H4 can give a perfect buy-signal, while the M30, M15 or M5 give a sell signal or a green line hooking. What do you do then? Wait and jump in later in the H4 candle or just ignore the other timeframes?
  • #20,782
  • Jun 18, 2013 4:21am Jun 18, 2013 4:21am
Quoting Dabbeljoe
When I'm looking for a trade, I tend to watch the lower timeframes as well to confirm if the momentum is right. So a perfect setup on the H4 can give a perfect buy-signal, while the M30, M15 or M5 give a sell signal or a green line hooking. What do you do then? Wait and jump in later in the H4 candle or just ignore the other timeframes?
First I look in to H4 and see any chance for trade, that give me a feel of the market, than looking for the same direction and a nice TDI cross in H1.
however, i am still a baby in trading, need lot of adjustment.
  • #20,783
  • Jun 18, 2013 5:28am Jun 18, 2013 5:28am
Quoting emmanuel7788
AU 17 Jun post-mortem: Here is a quick POMO of AU yesterday. There is a good trade opportunity this week ...a good swing is 200 to 240 pips. Start looking today. {image}
...

nice day drop .... where will it hit today? how about 0.9420?

60% of 240 pips from this week' opening 0.9565
Attached Image (click to enlarge)
Click to Enlarge Name: AU H1 17 Jun POMO 18-6-2013 7-21-10 AM.png Size: 85 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #20,784
  • Jun 18, 2013 5:52am Jun 18, 2013 5:52am
Hi, folks. Which is better - trading on H1 charts or H4? During the London session by better results at H4 to my mind
  • #20,785
  • Jun 18, 2013 6:10am Jun 18, 2013 6:10am
AU:

10 hours ago, there were some hints ... given on my chart posted just before TOK open.

if you did not see them, well, next time pay more attention to my charts and do your own analysis to check whether you see the same what I see.
Attached Image (click to enlarge)
Click to Enlarge Name: AU H1 17 Jun POMO1 18-6-2013 7-21-10 AM.png Size: 111 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #20,786
  • Jun 18, 2013 6:29am Jun 18, 2013 6:29am
Emmanuel, do you not pay attention to the APB then and just focus on the price bars and patterns? From previous posts. I am assuming you make you entries based on the patterns ie inside bars and then enter with TDI confirmation, using the APB as a guide to how long to hold in the trade for.
  • #20,787
  • Edited 6:49am Jun 18, 2013 6:38am | Edited 6:49am
Quoting kostya-star
Hi, folks. Which is better - trading on H1 charts or H4? During the London session by better results at H4 to my mind
Hi kostya-start,

WELCOME! this is your first post so the FF moderator has to read your post before we all get to see it.

To answer your question, you have to ask yourself - are you a scalper or a intraday trader or a swing trader?

I trade both H1 and H4, but I chose the trend carefully using multi-timeframe analysis.

When I trade intraday, I can be buyer and seller all in the same day. For example I can be seller when London session opens. Then when NY opens, I can change to be buyer.

But when I take a 4H swing trade, I stay in the Primary Trend during the week and that may last 2 to 4 days. But trading this way means you have to handle all the retracements during the few days in a week. That is not an easy thing to do both technically and mentally.

Take a look at ths pic attached below and you get a good idea what trend means in different timeframe.

Hope to see you post your charts soon and we can discuss and share more here.

Regards,
EMMANUEL
Attached Image (click to enlarge)
Click to Enlarge Name: Market Trends.png Size: 372 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #20,788
  • Jun 18, 2013 7:16am Jun 18, 2013 7:16am
Quoting kiranizzle
Emmanuel, do you not pay attention to the APB then and just focus on the price bars and patterns? From previous posts. I am assuming you make you entries based on the patterns ie inside bars and then enter with TDI confirmation, using the APB as a guide to how long to hold in the trade for.
Hi Kiranizzle,

No, I do pay attention and the use of the Average Price Bar APB/HA. But I look for trade setups using Candlestick patterns or Bar patterns (both a the same) and I use price bar for my trade entries. Managing trades using the APB/HA make things easier.

I have the APB on my charts and it is useful to use that as a visual aid to see when price starts to lose momentum and price volatility get weak. The issue I have with the APB is that it shows the calcualted average price open and close and in many instances it does not show the real price open and close. This can be misleading when price changes quickly. Therefore I have always my real price bar overlay on the APB.

But bear in mind the APB and TDI work very closely together in tandem when trading TMS. We must not simply rely on just the TDI and not the APB or the other way around. I see some traders fail in their trades because they did not read both the APB PA and the TDI together.

For trading using Japanese Candlestick CS pattern, I studied Steve Nison' course years ago and I am more confident using the Japanses CS patterns for my trade setups.
Do not try to learn too many CS patterns which make life difficult. Just keep things simple and learn the most common one which appears frequently.
Inside Bar IB
Bullish / Bearish Engulfing Bar BUEB/BEEB
Bullish / Bearish Outside Bar BUOB /BEOB
Double Bars High Lower Close/ Double Bars Low Higher Close DBHLC/DBLHC
Pin Bar / Hammer etc.
3-bar reversal patterns, etc.

These are the frequent ones which appear all the time in different timeframes. I chose these on higher TF - H4 and D for setups.

There are some materials I posted here before. Download these and see if these are of any help.

Profiting in Forex (Steve Nison)

Three Powerful Forex patterns

Hope this helps.

regards,
EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #20,789
  • Jun 18, 2013 7:17am Jun 18, 2013 7:17am
Yes, this is my first post on this forum, but I read it a long time. I've tried a lot of strategies, but I liked it quite too often, and good results. I have been trading on a demo for a month in the graphs H4, and close the deal on the opening day. This week I decided to try H1, the results are still negative. I will try again. Can I trade on the daily charts, is there somebody that experience?
  • #20,790
  • Jun 18, 2013 7:33am Jun 18, 2013 7:33am
This is my AU trade today,enter right after the LO candle open and after the bounce of the TDI on the previous candle. Take profit around 1st level of ADR (confluence with market harmonic too). I really appreciate if anyone have any suggestion about this trade (like entry or profit target). It means a lot for me . Did anyone take any trade today?
Attached Image (click to enlarge)
Click to Enlarge Name: xemarkets mt4.png Size: 92 KB
  • #20,791
  • Jun 18, 2013 8:03am Jun 18, 2013 8:03am
Three trades today.....the first AU H1 trade was already posted. The second AU H1 trade was also for 40 pips and entered at LO on a continuation of the Asian downtrend. The third trade was on EJ H1 at LO, based on a break above the setup candle, change of candle color and bounce of green off red and both above the yellow and the 50 line in the TDI.

Attached Image (click to enlarge)
Click to Enlarge Name: 2013.6.18 au h1.png Size: 40 KB
Attached Image (click to enlarge)
Click to Enlarge Name: 2013.6.18 ej h1.png Size: 35 KB
  • #20,792
  • Jun 18, 2013 8:08am Jun 18, 2013 8:08am
Quoting Phx62
Three trades today.....the first AU H1 trade was already posted. The second AU H1 trade was also for 40 pips and entered at LO on a continuation of the Asian downtrend. The third trade was on EJ H1 at LO, based on a break above the setup candle, change of candle color and bounce of green off red and both above the yellow and the 50 line in the TDI. {image} {image}
Inspiring as always,Phx62. Keep up the great work and thank you for being here with us
  • #20,793
  • Jun 18, 2013 8:35am Jun 18, 2013 8:35am
Quoting Phx62
Three trades today.....the first AU H1 trade was already posted. The second AU H1 trade was also for 40 pips and entered at LO on a continuation of the Asian downtrend. The third trade was on EJ H1 at LO, based on a break above the setup candle, change of candle color and bounce of green off red and both above the yellow and the 50 line in the TDI. {image} {image}
Hellp Phx62,
great pips...my congratulations!
Can I ask you if in case of EJ entry (or similar) you stay always in front of your screen with the "mouse" or put order with a price (example >126.630 for EJ)
Thanks in advance
  • #20,794
  • Jun 18, 2013 8:41am Jun 18, 2013 8:41am
Does anybody still use this simple method ? and can you show your result , thank you a lot!
  • #20,795
  • Jun 18, 2013 8:49am Jun 18, 2013 8:49am
Quoting smarco
{quote} Hellp Phx62, great pips...my congratulations! Can I ask you if in case of EJ entry (or similar) you stay always in front of your screen with the "mouse" or put order with a price (example >126.630 for EJ) Thanks in advance
smarco,
I enter every trade manually...I don't do pending orders. I also monitor every trade until it reaches at least 21 pips in profit. At that point, my EA moves the stop to BE and sometimes I continue to monitor and others I go back to bed or do something else. That is what works for me.....others do it differently.
  • #20,796
  • Jun 18, 2013 9:28am Jun 18, 2013 9:28am
Quoting Phx62
Three trades today.....the first AU H1 trade was already posted. The second AU H1 trade was also for 40 pips and entered at LO on a continuation of the Asian downtrend. The third trade was on EJ H1 at LO, based on a break above the setup candle, change of candle color and bounce of green off red and both above the yellow and the 50 line in the TDI. {image} {image}
Hi PHX62
Do use the market base line when considering making a trade?
Trade what you see .
  • #20,797
  • Jun 18, 2013 9:36am Jun 18, 2013 9:36am
Quoting dano858
{quote} Hi PHX62 Do use the market base line when considering making a trade?
Not always but the MBL does sometimes show a trend direction. I find that I have better success when the red and green are above the MBL for longs and below it on short trades......I also use the 50 line in much the same way. In the case of the AU trades today, the entire TDI was trending down and the red & green were below the 50 and the MBL. The TDI green and red are now in oversold territory, so we will have to watch for a move up.
  • #20,798
  • Jun 18, 2013 9:42am Jun 18, 2013 9:42am
Quoting Phx62
{quote} Not always but the MBL does sometimes show a trend direction. I find that I have better success when the red and green are above the MBL for longs and below it on short trades......I also use the 50 line in much the same way. In the case of the AU trades today, the entire TDI was trending down and the red & green were below the 50 and the MBL. The TDI green and red are now in oversold territory, so we will have to watch for a move up.
Thanxs PHx62
Trade what you see .
  • #20,799
  • Jun 18, 2013 10:05am Jun 18, 2013 10:05am
Quoting Phx62
{quote} smarco, I enter every trade manually...I don't do pending orders. I also monitor every trade until it reaches at least 21 pips in profit. At that point, my EA moves the stop to BE and sometimes I continue to monitor and others I go back to bed or do something else. That is what works for me.....others do it differently.
Thanks for this answer.
You're always a source of inspiration
  • #20,800
  • Jun 18, 2013 10:06am Jun 18, 2013 10:06am
Hey..

Is anyone else looking at the BO from 2 IB on UY and EY?

Would you consider trading the buy signal of H4 due to these BO and assume the market is in an uptrend now?

Cheers

Paul
Attached Image(s) (click to enlarge)
Click to Enlarge Name: usdjpydaily.png Size: 28 KB
Click to Enlarge Name: eurjpydaily.png Size: 29 KB
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