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Trading Made Simple

  • #21,121
  • Jun 26, 2013 8:58am Jun 26, 2013 8:58am
Quoting lastingwell
{quote} I did set it for +50 but thought as I was watching it I would see if it could get to yesterdays low, once it reached MS1 I moved the stop loss to +50 just in case.
NICE WORK!!!
  • #21,122
  • Jun 26, 2013 9:10am Jun 26, 2013 9:10am
Two more London EJ H1 trades.....entered at LO on a continuation trade that moved over 30 pips in my favor and then pulled back......closed manually for +12. Waited for price to continue up and set a new London high....once price moved back below last months low again, re-entered short....price barely hit my TP....otherwise that would have been a BE trade because I went back to bed once that last trade reached over 21 pips, and let the EA manage from there.
Attached Image (click to enlarge)
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  • #21,123
  • Jun 26, 2013 9:26am Jun 26, 2013 9:26am
Quoting Phx62
Two more London EJ H1 trades.....entered at LO on a continuation trade that moved over 30 pips in my favor and then pulled back......closed manually for +12. Waited for price to continue up and set a new London high....once price moved back below last months low again, re-entered short....price barely hit my TP....otherwise that would have been a BE trade because I went back to bed once that last trade reached over 21 pips, and let the EA manage from there. {image}
Hey Phx62,

In the 2nd last candle of your picture there was a blue candle which looked like it was coming off a good reversal candle.

Can I ask would you have entered a long on that? I'm asking because I took the long and it reversed in the next candle, although I moved SL very tight when it was in profit, so it wasn't a great loser.

Thanks for any insight you can give!

Paul
  • #21,124
  • Jun 26, 2013 10:12am Jun 26, 2013 10:12am
Use Stochastic Slope.ex4 indicator to confirm the TDI,could you tell me the param PriceInfo and MaMethod use which values?
KPeriod=8
DPeriod=3
Slowing=3
PriceInfo=?
<< 0=High/Low, 1=Close/Close >>
MaMethod=?
<< SMA=0, EMA=1, SMMA=2, LWMA=3 >>
  • #21,125
  • Jun 26, 2013 10:16am Jun 26, 2013 10:16am
A few days ago I had my lotsize set on 0,5 on the demo and I was trading it. Then I switched to my live account, opened two trades quickly, I had calculated them already, and I had a tremendous shock: my trades were still set on 0,5 lot. I lost half of my account! They were both losers…
Today my broker called, he had seen what happened and made me an offer. If I refunded my account, he would give me a bonus of 25%. Isn't that great! It's already on my account!
  • #21,126
  • Jun 26, 2013 10:56am Jun 26, 2013 10:56am
Quoting irishtoffy
{quote} Hey Phx62, In the 2nd last candle of your picture there was a blue candle which looked like it was coming off a good reversal candle. Can I ask would you have entered a long on that? I'm asking because I took the long and it reversed in the next candle, although I moved SL very tight when it was in profit, so it wasn't a great loser. Thanks for any insight you can give! Paul
irishtoffy,
Yes....there was a signal to go long on that candle. However, there are couple of things that would keep me from entering a long trade there....1. There had already been a move down over 140 pips without a retracement on the H1 chart. From experience, I know that once price moves 60 to 70 pips in one direction during London, it will seldom reverse without several candles of consolidation.....go back and test it.....it happens all the time. Because price had moved that far without a retracement, I would expect that blue candle to be just that....a retracement before price resumes the downtrend. Part of the "flow of the market". 2. I rarely enter trades on the last hour of London or the first hour of NY because London is winding down for the day and NY is opening and usually has lots of whipsaws during the first hour from news and other factors. Time of day and market conditions are very important when entering trades. Some times are much better than others......
Hope this answers your question........
  • #21,127
  • Jun 26, 2013 11:07am Jun 26, 2013 11:07am
Quoting Phx62
{quote} irishtoffy, Yes....there was a signal to go long on that candle. However, there are couple of things that would keep me from entering a long trade there....1. There had already been a move down over 140 pips without a retracement on the H1 chart. From experience, I know that once price moves 60 to 70 pips in one direction during London, it will seldom reverse without several candles of consolidation.....go back and test it.....it happens all the time. Because price had moved that far without a retracement, I would expect that blue candle...
Yea that sums it up nicely..cheers! I just need to remind myself its just consolidation now in the heat of the moment when I see the signal..
  • #21,128
  • Jun 26, 2013 11:33am Jun 26, 2013 11:33am
Quoting Dabbeljoe
A few days ago I had my lotsize set on 0,5 on the demo and I was trading it. Then I switched to my live account, opened two trades quickly, I had calculated them already, and I had a tremendous shock: my trades were still set on 0,5 lot. I lost half of my account! They were both losers… Today my broker called, he had seen what happened and made me an offer. If I refunded my account, he would give me a bonus of 25%. Isn't that great! It's already on my account!
Nice one!

Good to hear you're getting something good from your broker, we usually only read about it when people are annoyed with them for some reason.

I bet you don't make that mistake again either!! I reckon we've all done something like that at some point. - I know I have.

Andy.
Don't ask me, I have no idea what's going on.
  • #21,129
  • Jun 26, 2013 11:53am Jun 26, 2013 11:53am
Quoting Vladbold
{quote} I have a question, if i may.. Aren't you worried you took a short from the 32 level on the TDI ?
hmm worry, not really. like emmanuel said, sometimes even on 32 it will still go down quite a bit.
the thing is. i see the continuation thats strong, thats why i know it will continue. granted its not going to go for a lot of pips because it is exhausted.
i expect either today or tomorrow to be some pullback from all the bear move. but at the point when i made the trade, i know i could have gotten at least another 50 pips, so that's why i entered.

that said, i do miss out on the timing like emmanuel pointed out. i was 1 candle late. i should have gotten in when the candle broke IB that was made 3 candles before my entry.

also i miss out on a better trade....the EJ. its much easier and more beautiful..but oh well..continuation on 1h later i suppose.

p.S sorry for the late reply... when im trading 4h i close my laptop after the 1st 10 mins on 4h trade and go back to bed. London is my midnight
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Daniel
  • #21,130
  • Jun 26, 2013 12:52pm Jun 26, 2013 12:52pm
Hi,

Just wanted to share my GBPAUD 4H trade opened last night, and just closed it for ~ 150 pips.
Green line of TDI was already below 50 level, and although the angle was not not strong, it turned a trend continuation trade.
I however kept an eye for a possible red/green cross during the day...

This is my 2nd demo trade using the TMS method, both positive.

Thanks Big E and TMS warriors!
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  • #21,131
  • Jun 26, 2013 2:44pm Jun 26, 2013 2:44pm
Quoting Phx62
{quote} NICE WORK!!!

Thanks....your inspiration though
  • #21,132
  • Jun 26, 2013 4:01pm Jun 26, 2013 4:01pm
Quoting Gizzledonk
{quote} Nice one! Good to hear you're getting something good from your broker, we usually only read about it when people are annoyed with them for some reason. I bet you don't make that mistake again either!! I reckon we've all done something like that at some point. - I know I have. Andy.
That's why I wanted to share it, otherwise we only hear the negative stories.
And your right, I will NEVER do that again!
  • #21,133
  • Jun 26, 2013 4:31pm Jun 26, 2013 4:31pm
Quoting Dabbeljoe
{quote} That's why I wanted to share it, otherwise we only hear the negative stories. And your right, I will NEVER do that again!
Interesting1
  • #21,134
  • Jun 26, 2013 5:08pm Jun 26, 2013 5:08pm
Thanks a lot for the reply, i'll try to keep that in mind !
  • #21,135
  • Jun 26, 2013 5:55pm Jun 26, 2013 5:55pm
Average Price Bar or Heiken Ashi

I think it is time to have a revision on the APB/HA.
to read market momentum and strength,
then combine that with the use of the TDI
and get better entries into the market.

http://www.compassfx.com/video/flash/22108/22108.html

Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #21,136
  • Jun 26, 2013 6:05pm Jun 26, 2013 6:05pm
Quoting Hins
Hi, Just wanted to share my GBPAUD 4H trade opened last night, and just closed it for ~ 150 pips. Green line of TDI was already below 50 level, and although the angle was not not strong, it turned a trend continuation trade. I however kept an eye for a possible red/green cross during the day... This is my 2nd demo trade using the TMS method, both positive. Thanks Big E and TMS warriors! {image}

Very good trade Hins!
Welldone.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #21,137
  • Jun 26, 2013 6:17pm Jun 26, 2013 6:17pm
Quoting zchgold
Use Stochastic Slope.ex4 indicator to confirm the TDI,could you tell me the param PriceInfo and MaMethod use which values? KPeriod=8 DPeriod=3 Slowing=3 PriceInfo=? << 0=High/Low, 1=Close/Close >> MaMethod=? << SMA=0, EMA=1, SMMA=2, LWMA=3 >>

It is optional to use Stochastics. Recommended for new traders on TMS. But once we learn and gain more experience in Price Action trading, discard that.
It is to confirm Price Action not the TDI.
Both indicators work independent of each other and calculates based on the real price on your chart.
Attached Image (click to enlarge)
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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #21,138
  • Jun 26, 2013 6:22pm Jun 26, 2013 6:22pm
Quoting Dabbeljoe
A few days ago I had my lotsize set on 0,5 on the demo and I was trading it. Then I switched to my live account, opened two trades quickly, I had calculated them already, and I had a tremendous shock: my trades were still set on 0,5 lot. I lost half of my account! They were both losers… Today my broker called, he had seen what happened and made me an offer. If I refunded my account, he would give me a bonus of 25%. Isn't that great! It's already on my account!
good to hear this.
some brokers know that customer relations is important for long term business. I like such brokers.
I am stuck with one same broker for 25 years.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #21,139
  • Jun 26, 2013 6:35pm Jun 26, 2013 6:35pm
Quoting ukanimk
{quote} I am not sure i am right but Incase of DBHLC ,the close is lower than the previous bar so its like trend countinuation. i think to trade this just have to put sell stop at the low of the second red candle.....let me correct if wrong coz still learning the price action

Hi ukanimk,
I do not use stop orders for market entry in my trading. You do not get a good entry price this way.

That lower bar is extremely huge compared to the previous bar, so in usinsg stop order we are chasing after the market. No my style.

There are various entry methods to use DBHLC and DBLHC to get entry into the market and and then build up position after initial entry.

But, this DBHLC setup is not looking good now. I'll post an update later.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #21,140
  • Edited 9:36pm Jun 26, 2013 6:39pm | Edited 9:36pm
Quoting zortan
Sell limit at bottom of blue candle body - 97.70 sl - 97.92 tp 97.48

hi zortan,

your entry using the previous candle body is good.
That is about above 50% retracement of the lower close bar. But we must wait for retracement and look for the followup price action to get a Fib38/50 entry.
But you have the basic idea how to trade DBHLC. Good!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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