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Trading Made Simple

  • #21,021
  • Jun 24, 2013 9:26am Jun 24, 2013 9:26am
Quoting Jonh
{quote} So we cannot predict that kind of movement, but how you can minimize you loss then? I see tdi cross on the beginning of the candle, I take a trade. Then, 30 minutes later for example, I see green line goes back and there no tdi cross anymore, should I just close the trade?
as many trading coaches will tell us: Trade what we see, not what we think.
We should avoid tryingg to predict what price will do. we must watch and see what price will do and we act based on what price does.

In all trade setups there will will be some losses. Watch that Mark Douiglas video (full version) I posted. that man speak a lot of sense about what we believe in when we trade the market and about high probability, etc. etc....

How we manage our trade deopends on the type of trade we are trading. Scalping, intraday and swing trading are quite different in the way we manage our trades.

I know Big E would close his 4H trade when price pulls back very strong. and he wait for the next setup. That is his style. He trade Single Entry / Single Exit.

If one candle move and close with a range of 40pips up. The the next candle move down with a range of 80 pips, that reverses the TDI PL. Why?
Learn how the RSi works and you will know why.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #21,022
  • Jun 24, 2013 9:29am Jun 24, 2013 9:29am
Quoting emmanuel7788
{image}
That candle not looks so bad on my chart.
Second blue candle looks good.
+ cross on tdi + stoch
Was is bad or just unlucky trade?
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  • #21,023
  • Jun 24, 2013 9:33am Jun 24, 2013 9:33am
Quoting Jonh
{quote} That candle not looks so bad on my chart. Second blue candle looks good. + cross on tdi + stoch Was is bad or just unlucky trade? {image}
It's easier if you place an arrow or any sign at the candle you're referring to. Which one do you mean?
  • #21,024
  • Jun 24, 2013 9:34am Jun 24, 2013 9:34am
Quoting Murzilka
{quote} so I have to see good PA on APB... got it. But what about trigger itself (I mean cross on TDI)? Did I summarize it correctly?

I talk mainly about TMS 4H here and always.
When you use TDI cross and APB PA candle #1 and #2 type of entry, the probability are very good.
But should market price reverses very strong after APB candle#2, the slow TDi will go flat, or hook backwards, etc... all that sort of things happen.
Then we have exit condition and rules to follow. Whether you decide to exit based on TDI dpends on you.
If you read trades posted, i don't usually exit when TDI goes flat or hook back. I look at both the APB and price bars.
I scale out my trades and keep some open. I trade Multiple Entries(Multi Lots) / Multiple Exits for 4H swing trading.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #21,025
  • Jun 24, 2013 9:49am Jun 24, 2013 9:49am
Quoting Dabbeljoe
{quote} It's easier if you place an arrow or any sign at the candle you're referring to. Which one do you mean?
Last blue one.
Quoting emmanuel7788
Watch that Mark Douiglas video (full version) I posted
I already watched 6 parts one. I will watch this one too. Thanks.

About "Trade what you see, not what you want to see", I know about that.
As I already said, I saw "second blue candle looks good + cross on tdi + good stoch" and I took a trade.
It's not like I was wrong, market just don't want to go in my way. It's alright. I don't expect 100% win rate.
But next time I will be more careful.
  • #21,026
  • Jun 24, 2013 9:58am Jun 24, 2013 9:58am
Got into long position on GBP/USD, roughly at the beginning of this 4h candle. it looks like more clear entry in comparison to EUR/USD...
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  • #21,027
  • Jun 24, 2013 10:00am Jun 24, 2013 10:00am
Quoting Jonh
{quote} Last blue one. {quote} I already watched 6 parts one. I will watch this one too. Thanks. About "Trade what you see, not what you want to see", I know about it. As I already said, I saw "second blue candle looks good + cross on tdi + good stoch" and I took a trade. It's not like I was wrong, market just don't want to go in my way. It's alright. I don't expect 100% win rate. But next time I will be more careful.
I know exactly what you mean.
When that first blue APb closed. The next APB open blue and the open in at the mid-level of the previous blue APB. When price move up initially, that second APb was still blue until price starts to retrace to below the previous price bar, then this second APB chaged from blue to red.
This type of scenarion i have been through many times and lost money. For this reason, I use the real price bar for my trade entries and not on APB alone.

It is important to know that every blue APB close will follow with a new blue APB open until that price bar closes.
The same also that every red APB will follow with a new red APB open.

Read my post above, look at the upper and lower wicks of the APB. That make a lot of difference when we pick on APB candle#1 and candle#2.

When you trade on lower TF like H1 ...always wait for the candle to close. There are 4 M15 candle period in one H1, looking at M15 m,ay help you get better timed entry.
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Attached Image
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #21,028
  • Jun 24, 2013 10:11am Jun 24, 2013 10:11am
To some of you who are new on this thread
trading the 1H TF is totally different then trading the 4H TF

in 4H TF it is possible if you rely on TDI cross only as your signal. matter of fact TDI cross IS the main signal
in 1H TF TDI cross is NOT the main signal. PA is the MAIN signal

IF you use TDI cross to enter trades on 1H TF without any knowledge on PA, SR, and momentum, 1/2 of the time, you are way too late
while the other 1/2 a time you were faked out.

If you really want to trade the 1H TF, i suggest you to start learning candlestick pattern and do a lot of backtesting on the pair. Otherwise it might be better for you to just write a monthly check for any of the successful traders, cause they are the one you will be losing your money to.
Daniel
  • #21,029
  • Jun 24, 2013 10:13am Jun 24, 2013 10:13am
Quoting emmanuel7788
{quote} you mean FFM open...that was strong sell on M15. LO only in about 20 mins from now {image}
Yeah its the frankfrut. i forgot i tinkered with my session indicator to include frankfrut with london..

Thx for pointing it out. How's your back?
Daniel
  • #21,030
  • Jun 24, 2013 10:21am Jun 24, 2013 10:21am
Quoting Greenb
{quote} Yeah its the frankfrut. i forgot i tinkered with my session indicator to include frankfrut with london.. Thx for pointing it out. How's your back?

my back healed. thanks for asking. I got lazy doing little for few weeks.
Now I got plenty of backlog of handyman diy around the house to do.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #21,031
  • Jun 24, 2013 10:37am Jun 24, 2013 10:37am
London session closing in 25 mins.
After that, the US traders will decide the next 4 hours.

It's way past bedtime. catch your Asian traders in few hours when Sydney / Tokyo open.

Have fun with US traders.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #21,032
  • Jun 24, 2013 10:52am Jun 24, 2013 10:52am
Quoting Greenb
you use TDI cross to enter trades on 1H TF without any knowledge on PA, SR, and momentum,
Come on, I'm not stupid monkey. I don't just press buy or sell button, then I see tdi cross.
Also does this chart looks bad for you?
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  • #21,033
  • Jun 24, 2013 11:07am Jun 24, 2013 11:07am
Quoting fxtrade13
{quote} I think your first trade is at the Frankfurt open(7GMT), and your second trade was at London open(8GMT).
The UK is on summer time.....GMT+1.
  • #21,034
  • Jun 24, 2013 12:20pm Jun 24, 2013 12:20pm
Quoting Phx62
{quote} The UK is on summer time.....GMT+1.
Ok thanks,

I thought London open was at 8AM local (London) time.

I live in Central USA time, and when it's 2AM here, it's 8AM in London.
  • #21,035
  • Jun 24, 2013 12:33pm Jun 24, 2013 12:33pm
Quoting Jonh
{quote} Come on, I'm not stupid monkey. I don't just press buy or sell button, then I see tdi cross. Also does this chart looks bad for you? {image}

honestly, i wont be making any trades looking at your chart.. no offense but i need more information

1. Time (which market is open at that point and which pair)
2. S&R lines...if its hourly chart, all i can see at your chart is only for the last week. How bout those monthly S&R from back then? I dont want to trade right into S&R lines. even if its a good trade, i may just wait till it break the S&R
3. I cant see the open and close prices on your bar. So i have no idea if its reversal candlestick pattern or continuation pattern.
4. i Cant see the price axis. how am i supposed to know how close it is to S&R.

On the chart itself. i wouldn't get in on long. because its pretty close to the high of the day. again i have no idea how much range between the candle now and the top of range because you have no price axis on your chart
Daniel
  • #21,036
  • Jun 24, 2013 12:57pm Jun 24, 2013 12:57pm
Quoting fxtrade13
{quote} Ok thanks, I thought London open was at 8AM local (London) time. I live in Central USA time, and when it's 2AM here, it's 8AM in London.
I am in Arizona and we stay on Mountain STANDARD Time year round, so in effect we are on the same time as Pacific DAYLIGHT SAVINGS Time. That puts me two time zones behind you. When its Midnight here, its 8AM London time.
  • #21,037
  • Jun 24, 2013 1:09pm Jun 24, 2013 1:09pm
Quoting Phx62
Two more trades at LO.....first one stopped out at BE.....second one re-entered following the open of the 2nd candle after it went up and set the high of the London session and then moved back down.....TDI green already crossed red and was crossing yellow and the 50 line.....done for the day. {image}
hello phx62, inspiring as usual. For the candle that set the London high and then reversed (the candle you took your second trade ) would it be plausible to enter long as well? There was a pullback candle before the London high candle and price broke past before going down for the night. Is it because tdi didn't cross that made the pullback invalid or any other factors?

thanks
  • #21,038
  • Jun 24, 2013 1:13pm Jun 24, 2013 1:13pm
Quoting Greenb
{quote}
I know you already undestand its today h1 USDJPY just before the drop.
Let's move on.
What you can say about this?
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  • #21,039
  • Jun 24, 2013 1:16pm Jun 24, 2013 1:16pm
Quoting emmanuel7788
{quote} my back healed. thanks for asking. I got lazy doing little for few weeks. Now I got plenty of backlog of handyman diy around the house to do.
Good to see you healed
  • #21,040
  • Jun 24, 2013 1:18pm Jun 24, 2013 1:18pm
Hi,

I've been reading and learning a lot from the TMS thread for the past week. Just placed my 1st demo trade on GU 4H, following the TDI green line cross rule (and good angle).
I am not certain about what exit strategy to apply. I put as a T/P target is 2 ATR(7) which was 40 pips at the time of opening the position, and a S/L is 1 ATR. Or is better to remove the T/P and just observe TDI and subsequent price bars? Would appreciate very much comments/suggestions on this. Here is the chart:
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