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Trading Made Simple

  • #21,541
  • Jul 9, 2013 9:10am Jul 9, 2013 9:10am
Quoting Pervis
{quote} piprac, Just reset all setting as default.. http://www.forexfactory.com/showthre...27#post6681627
Thank you.
  • #21,542
  • Edited 10:32am Jul 9, 2013 10:08am | Edited 10:32am
Did anyone take the USD/JPY(USD/JPY showing a decending triangle) & EUR/GBP (Hangman candlestick formed on D1) H4 TDI cross trades now?

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  • #21,543
  • Jul 9, 2013 11:34am Jul 9, 2013 11:34am
Quoting mike1349
Ej H4 inside bar break out.waiting for retrace to enter Short. {image}

Still waiting!
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Failure, is a wonderful teacher!
  • #21,544
  • Jul 9, 2013 1:07pm Jul 9, 2013 1:07pm
Hello guys,

this thread is really nice with wonderful spirit. I would like say to say big thank you to all contributors! I really appreciate your hard work and your will to share with others, respect!

I took this trade (attached below). Made me nice +30 pips. Wanted to exit just portion, but couldn't get to my pc and meanwhile my tp was hit.

It was late entry, but played out well.
Reasons for taking this trade: TDI cross, didn't break yesterday's high, D is strong trend down. SL placed above last swing high.

Sorry for my english, I am kinda beginner so please if I say something inappropriate don't take me serious, I think I am kind person and I might do some mistakes because of language barrier.

Wish you all green pips and have a nice day!

Rico
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  • #21,545
  • Jul 9, 2013 4:04pm Jul 9, 2013 4:04pm
Quoting mike1349
Ej H4 inside bar break out.waiting for retrace to enter Short. {image}

mike,
you spotted that H4 inside bar but you did not know how to trade in M15.

IMHO, you still have other MAs on your charts and they won't help you make trade decisions quicker and better.... than plain naked price bar and APB.
Attached Image (click to enlarge)
Click to Enlarge Name: mike1394 EJ M15 10-7-2013 6-56-02 AM.png Size: 209 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #21,546
  • Jul 9, 2013 4:13pm Jul 9, 2013 4:13pm
Hi All,
Took EJ Buy just after 6 pm my time last night. Previous candle broke and closed above the prev day high.
After 2 hours the trade had gone nowhere so I moved my SL to 15 Pips from my entry. I think the best profit was about 15 pips.
Part of my brain was saying just get out with a couple of pips, the other part was saying move SL and let the trade play out.
The move of the SL won out so when the stop was hit my loss was a lot smaller than it might have been.
Attached Image (click to enlarge)
Click to Enlarge Name: 20130709 buy eurjpyh4.png Size: 55 KB
  • #21,547
  • Jul 9, 2013 4:20pm Jul 9, 2013 4:20pm
Quoting mike1349
{quote} Still waiting! {image}

how about some music and song while we wait:

enjoy!

Inserted Video
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #21,548
  • Jul 9, 2013 4:39pm Jul 9, 2013 4:39pm
Quoting rob Miller
Hi All, Took EJ Buy just after 6 pm my time last night. Previous candle broke and closed above the prev day high. After 2 hours the trade had gone nowhere so I moved my SL to 15 Pips from my entry. I think the best profit was about 15 pips. Part of my brain was saying just get out with a couple of pips, the other part was saying move SL and let the trade play out. The move of the SL won out so when the stop was hit my loss was a lot smaller than it might have been. {image}
hi rob,
good thing you manage that trade well and got small loss.
Ranging market isn't easy to trade.
Both W1 and D1 ranging within its PAc until wee see the next breakout into new trend.
But this pari is good for short term trade becasue of its wide day range traded.

Just one suggestion:

1) when you see H4 break the prev D high, quickly check H1 to see if there is Upwards momentum for continuation. On H1 is also the Prev D Fib-r 127% which is a common intraday reversal level and that is the upper wick of the APB as price pullback.

2) when trade A fails, have a trade plan B ready.

actually that's 2 suggestions.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #21,549
  • Jul 9, 2013 4:49pm Jul 9, 2013 4:49pm
Quoting Riconico
Hello guys, this thread is really nice with wonderful spirit. I would like say to say big thank you to all contributors! I really appreciate your hard work and your will to share with others, respect! I took this trade (attached below). Made me nice +30 pips. Wanted to exit just portion, but couldn't get to my pc and meanwhile my tp was hit. It was late entry, but played out well. Reasons for taking this trade: TDI cross, didn't break yesterday's high, D is strong trend down. SL placed above last swing high. Sorry for my english, I am...

Hello Rico,
First , WELCOME to this TMS trading family. That's the spirit we share as one big family.

You first post and I like your chart very much. Clean and no clutter. Best things is no moving average .
This is good start with price action trading.

And that is a good trade well taken and safe. A little late, but good execution.

Your English is good enough and is clear to understand. Most of us a not native English speaking but our charts is our common language. That is the beauty when we post with our charts as we learn from one another.

Thank you for your post.

regards,
EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #21,550
  • Jul 9, 2013 5:21pm Jul 9, 2013 5:21pm
Quoting emmanuel7788
NZDUSD week 28 - 9 July Looking at the D1 chart, it looks good with a D1 entry developing nicely. But with the market being in ranging mode for many days and being push down from the historical resistance 0.7832, I will be look for a strong break upwards. D1 chart show a Bullish Piercing candle yesterday but the TDI cross is not confirmed until today D1 candle closes. Any buy entry on H4 and H1 is good to make an early entry into NU. Trading is about taking some risk. Trade Well folks. {image}
Here is my update on NZDUSD:
Yesterady was a nice move up but retraced later part of the day and closed just below the historical resistance 0.7832. ... for the 3rd time.
Today will need more buyer suport to close above or else ...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: NU week 28 D1 view 9-7-2013 2-12-48 PM.png Size: 45 KB
Click to Enlarge Name: NU week 28 D1 view 10 Jul 10-7-2013 8-15-07 AM.png Size: 70 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #21,551
  • Jul 9, 2013 5:33pm Jul 9, 2013 5:33pm
Quoting Erol
Did anyone take the USD/JPY(USD/JPY showing a decending triangle) & EUR/GBP (Hangman candlestick formed on D1) H4 TDI cross trades now? {image}
Hi Erol,

No I did not trade those 2 pairs. No plan to and also I used up my full risk 10% 5 trades this week already.

But looking at EG now, there was a huyge pullback on D1 so we take the D1 bias for short only. But only sell on rally.

UJ - still not clear what the market wants to do after the NFP rally and the longer term trend is still UP. Monday and Tuesday were narrow ranged so we can exepct a move out of that monday high ot a beak below yesterday Low.

we shall see today.

Good Trading ahead.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #21,552
  • Jul 9, 2013 6:31pm Jul 9, 2013 6:31pm
Quoting emmanuel7788
{quote} mike, you spotted that H4 inside bar but you did not know how to trade in M15. IMHO, you still have other MAs on your charts and they won't help you make trade decisions quicker and better.... than plain naked price bar and APB. {image}

Thanks Emmanuel...I am still between this and the other system so sometimes I mix them up when I am posting it.Sorry
Regarding M15 entry.....You are right ....I was blind
PAC entry .... I only look for it in H4
but I didn't get your 3rd comment when you say why waiting for retracement? you mean bcoz the H4 candle is with momentum I should jump in? but you always say wait for a better entry...I am confused
Thanks
Mike
Failure, is a wonderful teacher!
  • #21,553
  • Jul 9, 2013 6:41pm Jul 9, 2013 6:41pm
Quoting JayS45
{quote} Ok that sounds great. Ill start checking every 4 hours & set up my work comp to do throuout the day too. Might take a day to do. Thanks for the help. My next 4 hr candle coming in 5 mins. Ill start from then. Thanks again Emmanuel.
Hi JayS45,

Important thing is never to lose sleep becasue you want to trade.

Some traders says they cannot trade 4H method because of their local time when London Open is also their night time sleep hours, I fully understand that.
So they chose to trade the D1 chart timeframe and look for D1 setups.
But we can still look for 4H setups and trade on a daily basis. There are 6 x H4 candles in one 24-hour day period.

I just install the GoMarkets MT4 version and now can post the same charts like you.
See example what I mean with trading H4 with Day in background.

Anyway, there were good setups for EJ and EU near your bedtime when NY open.

regards,
EMMANUEL
Attached Image (click to enlarge)
Click to Enlarge Name: Trading the Day .png Size: 56 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #21,554
  • Jul 9, 2013 7:00pm Jul 9, 2013 7:00pm
Quoting mike1349
{quote} Thanks Emmanuel...I am still between this and the other system so sometimes I mix them up when I am posting it.Sorry Regarding M15 entry.....You are right ....I was blind PAC entry .... I only look for it in H4 but I didn't get your 3rd comment when you say why waiting for retracement? you mean bcoz the H4 candle is with momentum I should jump in? but you always say wait for a better entry...I am confused Thanks Mike
1) trade TMS 4H and use the other lower TF entry methods works fantastic. It is the same trading made simple.

2) PAC is useful in all TFs. When use in lower TFs like M5 and M15 it prvoides good scalping trades. It also let you get into the market when trading 4H with lower TF entries so that you can find a smaller initial SL. Scalp your way into a 4H swing trade, heard of this before?

3) You are still thinking too much in H4 retracements entry and lose sight of lower TFs entry technique. You need to combine the use of every skills you have.
It only seems difficult but with deep practice, it will work.

Now my question is: What do you use the PAc in higher TFs like D1 and W1 for?

regards,
EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #21,555
  • Jul 9, 2013 7:03pm Jul 9, 2013 7:03pm
Here is EJ example how I view H4 with D1 in background.
no moving average, no PAC, etc. just price action with TDI and APB/HA.
Attached Image (click to enlarge)
Click to Enlarge Name: EJ 4H example D1 9 Jul .png Size: 54 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #21,556
  • Jul 9, 2013 7:08pm Jul 9, 2013 7:08pm
Here is EU example H4 view with D1 background,....
... not great looking compared with EJ above, but the setup worked out. but in this case, it is down-trending market, so there is continution bias.

Just note, when PA fails to push beyond the Fib127%, it usually retraces back into the previous Day range.
Attached Image (click to enlarge)
Click to Enlarge Name: EU 4H example D1 9 Jul .png Size: 51 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #21,557
  • Jul 9, 2013 7:20pm Jul 9, 2013 7:20pm
EURGBP:
this one is for FF member Erol.

try catch it today. Follow the D1 price action .

Now is my lunch time. Got to go now, will be back in 3 hours.
Attached Image (click to enlarge)
Click to Enlarge Name: EG week 28 H4 view in D1 10-7-2013 10-14-57 AM.png Size: 54 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #21,558
  • Jul 9, 2013 8:49pm Jul 9, 2013 8:49pm
Quoting emmanuel7788
{quote} 1) trade TMS 4H and use the other lower TF entry methods works fantastic. It is the same trading made simple. 2) PAC is useful in all TFs. When use in lower TFs like M5 and M15 it prvoides good scalping trades. It also let you get into the market when trading 4H with lower TF entries so that you can find a smaller initial SL. Scalp your way into a 4H swing trade, heard of this before? 3) You are still thinking too much in H4 retracements entry and lose sight of lower TFs entry technique. You need to combine the use of every skills you have....

SORRY..i MEANT i USE tms FOR H4 TF...I put PAC by mistake.......Honestly I don't use Daily and weekly TF with any of these stuff...I only look at them to get an idea...That's it.
Regards
Failure, is a wonderful teacher!
  • #21,559
  • Jul 9, 2013 8:54pm Jul 9, 2013 8:54pm
Quoting emmanuel7788
Here is EJ example how I view H4 with D1 in background. no moving average, no PAC, etc. just price action with TDI and APB/HA. {image}

I love this trade....I remember once you told if the price can't break the previous day 127% Fib it will go back to the previous range.Here is a nice example.
I don't know how you could use all these different stuff in different ways...I am speechless

Here is 12 am.I am going to bed now.Thanks for the charts Emmanuel.

Later
Mike
Failure, is a wonderful teacher!
  • #21,560
  • Jul 9, 2013 11:03pm Jul 9, 2013 11:03pm
any advice appreciated

Three trades today

First trade taken short after pullback and doji appeared at daily high. Price retraced. Exited once candle changed color.

Second trade taken short after pullback candle formed at daily high again. Tested and retraced. More sufccessful this time

Third trade taken long just now at asian session. Pullback candle formed at daily low. Pullbacks on aud.usd have had quite a high success rate recently
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