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Trading Made Simple

  • #21,821
  • Jul 15, 2013 6:56am Jul 15, 2013 6:56am
Hi All,
second trade for the night was a EU sell.
T1 + 20 pips, T2 + 40 pips. Both targets hit
As usual I sold 50% at T1.
Good day trading with 2 trades both in profit, up 90 pips for the day
Time to call it quits
Attached Image (click to enlarge)
Click to Enlarge Name: 20130715 sell eurusdh1.png Size: 49 KB
  • #21,822
  • Edited 7:15am Jul 15, 2013 6:58am | Edited 7:15am
Quoting emmanuel7788
AU 15 July LO+2 Asian high looks set. Now to see how PA will show us the way back down. {image}
just as member lastingwell pointed out to hidden divergence, I went backk and check on my AU trades and realised I did not see that divergence in AU H1.


here is the updated AU chart.
Attached Image (click to enlarge)
Click to Enlarge Name: AU 15 Jul H1 view Divergence 15-7-2013 5-08-36 PM.png Size: 50 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #21,823
  • Jul 15, 2013 7:04am Jul 15, 2013 7:04am
Quoting rob Miller
Hi All, second trade for the night was a EU sell. T1 + 20 pips, T2 + 40 pips. Both targets hit As usual I sold 50% at T1. Good day trading with 2 trades both in profit, up 90 pips for the day Time to call it quits {image}

good trades.

don't quit... you are doing well.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #21,824
  • Jul 15, 2013 7:18am Jul 15, 2013 7:18am
Quoting emmanuel7788
{quote} good trades. don't quit... you are doing well.
My USD/JPY trade just hit TP. I'll be interested to see where it went later but happy with result for sure
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpyh4.png Size: 88 KB
  • #21,825
  • Jul 15, 2013 7:23am Jul 15, 2013 7:23am
Hi..long time I have posted anything here. I have been on holidays and clearing my head after a bad week trading, and hoping to come back with a clear head with less noise affecting my decisions!

Anyway..I still seem to have not lost my trade exit problem!

I have terribly 'itchy fingers'..I took the trade at the tick mark on the chart when it broke the previous day high, although it was before the candle closed. The candle closed with what looked like could be a pullback candle, and the trade was -17 pips. I then exited on the expectation that this next candle was going to turn red and complete the formation. No..wrong again! Only to see it would have turned in to a good trade in spite of my early entry!

I have lost count of the number of times this same scenario has happened to me now!
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpyh1.png Size: 37 KB
  • #21,826
  • Jul 15, 2013 7:34am Jul 15, 2013 7:34am
Quoting irishtoffy
Hi..long time I have posted anything here. I have been on holidays and clearing my head after a bad week trading, and hoping to come back with a clear head with less noise affecting my decisions! Anyway..I still seem to have not lost my trade exit problem! I have terribly 'itchy fingers'..I took the trade at the tick mark on the chart when it broke the previous day high, although it was before the candle closed. The candle closed with what looked like could be a pullback candle, and the trade was -17 pips. I then exited on the expectation that this...
that's is what is known as self sabotage.

you need to learn to walk away from your computer after your H1 entry. Give your trade 2 to3 candles to work.
when you micro manage your trades and looking at your screen all the time, it starts to talk back at you and that's when your itchy fingers will do something silly.
Attached Image
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #21,827
  • Jul 15, 2013 8:06am Jul 15, 2013 8:06am
Just entered US/CAD with two TPs - TP/1 @ 1.0384 & TP/2 @ 1.0362 I hope the picture loads, always seems to be a challenge.

edit: alas, pic didn't upload. Entry @ 1.0403 & SL @ 1.0435, H1 TF. Oanda pics don't seem to load for me, there must be an intermediate step that I can't figure out. Sorry, p.
  • #21,828
  • Jul 15, 2013 8:23am Jul 15, 2013 8:23am
Quoting irishtoffy
Hi..long time I have posted anything here. I have been on holidays and clearing my head after a bad week trading, and hoping to come back with a clear head with less noise affecting my decisions! Anyway..I still seem to have not lost my trade exit problem! I have terribly 'itchy fingers'..I took the trade at the tick mark on the chart when it broke the previous day high, although it was before the candle closed. The candle closed with what looked like could be...! {image}
Read Dr.Van K Tharp about Self Sabotage here. Maybe you will find yourself in that article. You can also download and read Come Into My Trading Room by Alexander Elder,it has a lot of useful information.

I'm not a experienced trader by any mean because I'm still have a lot of things to learn but I want to share with you my view on this. You have your trading plan,you have to execute it. A solid trading plan is trader edge in the market. You can only manage your entry and your money management,the rest is depend on the market. You can't enter the market,staring at it and pray for it to go in your favor. If the market take you out,then you just have to deal with it-no one can't win all the time. Don't put too much emotion on the trade,follow your rule is the only thing you should do. Believe me,greed and fear are not a good friend in long term.

1 more thing,emmanuel shared it on this thread 2 weeks ago but I think it's deserved to be mentioned again. Mark Douglas - Mind Over Market. I think you will find a lot of information is that interview. Wish you all the best.
  • #21,829
  • Jul 15, 2013 8:24am Jul 15, 2013 8:24am
hi all, my first post here

I've been trading this system in h4 for 2 months, very profitable.

And then I start my H1 trading, but fails alot,

Now I understand emmauel's statment: at H4 , TDI is king, H1, PA is king

Seems I got tons to learn at H1 trading , I guess I will stick to H4 first, and read the post for Phx and emmauel again and again

thanks every contributors


here's a failed chart for everyone's reference : )
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 15-03gbpusdh1.png Size: 90 KB
Click to Enlarge Name: 15-03 gbpusdh1 failed.png Size: 90 KB
  • #21,830
  • Jul 15, 2013 8:59am Jul 15, 2013 8:59am
Quoting emmanuel7788
Very slow market today. Nevertheless, this is the PAC entry I see which has some potential till NYO. {image}
this EU H1 trade closed before NYO.
Attached Image (click to enlarge)
Click to Enlarge Name: EU week 29 15 Jul H1 trade closed 15-7-2013 9-50-45 PM.png Size: 29 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #21,831
  • Jul 15, 2013 9:00am Jul 15, 2013 9:00am
Quoting frontline141
hi all, my first post here I've been trading this system in h4 for 2 months, very profitable. And then I start my H1 trading, but fails alot, Now I understand emmauel's statment: at H4 , TDI is king, H1, PA is king Seems I got tons to learn at H1 trading , I guess I will stick to H4 first, and read the post for Phx and emmauel again and again thanks every contributors here's a failed chart for everyone's reference : ) {image} {image}
Hi frontline,welcome to the thread.
As I can see on your chart,you enter after green bounced off red and the next red candle opened right? Next time you should pay attention to the news,you can use the calendar in forexfactory to keep track of it. The reason that you got stop out is 30 mins after NY open there were a big impact news. You can open EU,GU,AU chart to see it,price went up after the news was announced. It's my thought,I think emmanuel will give you the answer soon.
Regards,
  • #21,832
  • Jul 15, 2013 9:06am Jul 15, 2013 9:06am
Quoting frenetic
{quote} Hi frontline,welcome to the thread. As I can see on your chart,you enter after green bounced off red and the next red candle opened right? Next time you should pay attention to the news,you can use the calendar in forexfactory to keep track of it. The reason that you got stop out is 30 mins after NY open there were a big impact news. You can open EU,GU,AU chart to see it,price went up after the news was announced. It's my thought,I think emmanuel will give you the answer soon. Regards,
Thank you for your comment. That's one of my conclusion too. I didnt beware of that news as I thought there's always red news and I only beware the most important one like Unemployment Claims and NFP. And thats why I love H4 trading as it looks it has less impact from news.
  • #21,833
  • Jul 15, 2013 9:07am Jul 15, 2013 9:07am
Quoting emmanuel7788
{quote} that's is what is known as self sabotage. you need to learn to walk away from your computer after your H1 entry. Give your trade 2 to3 candles to work. when you micro manage your trades and looking at your screen all the time, it starts to talk back at you and that's when your itchy fingers will do something silly. {image}

Yes that is exactly right!

OK..tomorrow I must make myself not touch a trade after entry for a minimum of 2 candles..
  • #21,834
  • Jul 15, 2013 9:40am Jul 15, 2013 9:40am
here is EJ PA entry using the last Bearisg Engulfing Bar at S&R.
Attached Image (click to enlarge)
Click to Enlarge Name: EJ 15 Jul H1 trade 15-7-2013 10-36-07 PM.png Size: 37 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #21,835
  • Jul 15, 2013 9:44am Jul 15, 2013 9:44am
Quoting emmanuel7788
here is EJ PA entry using the last Bearisg Engulfing Bar at S&R. {image}

I'm in as well. Btw congrats with your EU trade . I took a short trade on AU but after it's BE I had my EA to manage that so i'm out with 10 pips.
  • #21,836
  • Jul 15, 2013 9:58am Jul 15, 2013 9:58am
Quoting emmanuel7788
here is EJ PA entry using the last Bearisg Engulfing Bar at S&R. {image}

Hi Emmanuel,

If we speak about the closed red bar then isn't it an Inside Bar instead BEEB?
  • #21,837
  • Jul 15, 2013 10:03am Jul 15, 2013 10:03am
Quoting frenetic
{quote} I'm in as well. Btw congrats with your EU trade . I took a short trade on AU but after it's BE I had my EA to manage that so i'm out with 10 pips.
frenetic,

thanks.

AU still good to sell ... this week.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #21,838
  • Jul 15, 2013 10:04am Jul 15, 2013 10:04am
Quoting gigicualex
{quote} Hi Emmanuel, If we speak about the closed red bar then isn't it an Inside Bar instead BEEB?

gigicualex,

are you looking at the APB?

I look at the real price bars.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #21,839
  • Jul 15, 2013 10:10am Jul 15, 2013 10:10am
Quoting emmanuel7788
here is EJ PA entry using the last Bearisg Engulfing Bar at S&R. {image}
yes correct entry,and i wish you can ride it to tp,as you see PAis pulling back now,pls tell me we can keep it or exit ?
  • #21,840
  • Jul 15, 2013 10:39am Jul 15, 2013 10:39am
Quoting emmanuel7788
{quote} gigicualex, are you looking at the APB? I look at the real price bars.

I was looking at your chart posted at 21828...I guess those are ABP candles..
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