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Trading Made Simple

  • #22,301
  • Jul 23, 2013 9:50am Jul 23, 2013 9:50am
Perfect time to Sell JPYUSD now and make your 30pips
Be the dragon master...
  • #22,302
  • Jul 23, 2013 9:57am Jul 23, 2013 9:57am
Quoting mastersm
I get you Dalytec. But you do not want to spend a whole 24hrs fixing your eyes on the screen. OH by the way... Those who took my advise to trade eurusd Buying at 1.3180 have just made profit at 30pips as I predicted. My day is done. I will look for another trade tomorrow. 30 pips only. Cheers everyone
You're right mastersm but like I said one could have gone for this same trade with less than 70 pips sl. and still would have made it. I think when it comes to the issue of using large stop losses, one must have considered the character of the market price. That is whether the market is big spikes like you said or just trending. If the market is given to big spikes, the best thing to is to wait for the next time the market would give such a big spike before entrying. And the entry price must be about 15 pips bigger than the number of pips moved by the spike.

Regards

Dalytec.
  • #22,303
  • Jul 23, 2013 10:03am Jul 23, 2013 10:03am
Quoting mastersm
Perfect time to Sell JPYUSD now and make your 30pips
Yeah I can see that as well but may I know your considerations please?
  • #22,304
  • Jul 23, 2013 10:09am Jul 23, 2013 10:09am
Emmanuel I am sure you took that trade EU trade
  • #22,305
  • Jul 23, 2013 10:12am Jul 23, 2013 10:12am
2 trades today
eu 2 postions _ 20 +25
uj 1 postion _ 13
Happy trading
Attached Image(s) (click to enlarge)
Click to Enlarge Name: usdjpyh1.png Size: 46 KB
Click to Enlarge Name: eurusdh1.png Size: 41 KB
Trade what you see .
  • #22,306
  • Jul 23, 2013 10:13am Jul 23, 2013 10:13am
Quoting emmanuel7788
{quote} Hi Erol, Thanks for sharing your MTFA on EU. EU currenr view is the flow still UP seen in W1, D1 and H4. Any first sign of bearish reversal will be seen in H4 with a potential resistance zone just above where Prev W Fib 127% is. The current PA is aroun this week' WPv and we mujst watch how PA will be like as the TDI VB shows narrowing after the last rally. This is good sign for a breakout into increase volatility again. We must be prepare for both directions and ride the next wave. We are trend traders, so we must stay in the trend wave...
EU is in buy mode since Monday open.... so no CT trade until I see a higher TF reversal.

Today' NYO intraday H1 trade entry ... Price Action and TDI ....
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EU week 30 3in1 22-7-2013 8-22-42 AM.png Size: 113 KB
Click to Enlarge Name: EU 23 Jul NYO trade 23-7-2013 10-55-10 PM.png Size: 49 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #22,307
  • Jul 23, 2013 10:17am Jul 23, 2013 10:17am
Quoting dalytec
Emmanuel I am sure you took that trade EU trade

yes, sure I did after I made my post asking anyone buy or sell.

I am using PA and TDI.... I got rid of the 5EMA, ... so no more moving averages for me. The days of COWABUNGA has been over for me 3 years ago.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #22,308
  • Jul 23, 2013 10:27am Jul 23, 2013 10:27am
Quoting emmanuel7788
{quote} yes, sure I did after I made my post asking anyone buy or sell. I am using PA and TDI.... I got rid of the 5EMA, ... so no more moving averages for me. The days of COWABUNGA has been over for me 3 years ago.
The days of COWABUNGA! What does that mean and why do you have to let go 5 EMA?
  • #22,309
  • Jul 23, 2013 10:36am Jul 23, 2013 10:36am
Quoting dalytec
{quote} The days of COWABUNGA! What does that mean and why do you have to let go 5 EMA?
COWABUNGA is a system using moving averages and MACD,RSI,etc...

.it evolved over many years. I started trading that in 2007. Now got rid of the MAs, then the MACD, ...now left with RSI which became TDI.

google 'cowabunga' ...

I dropped the 5EMA shift+3 because I hardly use that since I rely more on PA + Support & Resistance + TMS.
One less indicator, less thing to consider in trade decision.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #22,310
  • Jul 23, 2013 10:39am Jul 23, 2013 10:39am
Quoting emmanuel7788
{quote} COWABUNGA is a system using moving averages and MACD,RSI,etc... .it evolved over many years. I started trading that in 2007. Now got rid of the MAs, then the MACD, ...now left with RSI which became TDI. google 'cowabunga' ... I dropped the 5EMA shift+3 because I hardly use that since I rely more on PA + Support & Resistance + TMS. One less indicator, less thing to consider in trade decision.
How can lay my hand on any S&R software or does TMS template have.
  • #22,311
  • Jul 23, 2013 10:55am Jul 23, 2013 10:55am
Quoting dalytec
{quote} How can lay my hand on any S&R software or does TMS template have.

I tried a few so called support and resistance indicators in the past but they did no suit my trading. I look at market structure and price behaviour, so I prefer to identify historical price levels where there are swing points. I look for swing points using MN and W1 charts.
For 4H swing trading I use the Prev W Fib retracements levels.
The Previous Week Open High Low and Close are also important for 4H swing trading.
What is important is to look for CONFLUENCE of these S&Rs and also the Round Number prices .

I do all these as part of my Big Picture planning every week.

TMS is a simple technical method using both TDI and the APB. Don't need to complicate it with any other indicators like S&R or Supply and Demand, etc.
Learn to trade PA with TMS. TMS works in all timeframes beacsue PA will be comfirmed by the TDI. This is leading edge.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #22,312
  • Jul 23, 2013 11:07am Jul 23, 2013 11:07am
London markets closed, so as usual price pullback a little.
Now US market will decide the next 4 ~ 5 hours.
I hit the sack now.

back when Sydney opens.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #22,313
  • Jul 23, 2013 11:07am Jul 23, 2013 11:07am
Quoting emmanuel7788
{quote} I tried a few so called support and resistance indicators in the past but they did no suit my trading. I look at market structure and price behaviour, so I prefer to identify historical price levels where there are swing points. I look for swing points using MN and W1 charts. For 4H swing trading I use the Prev W Fib retracements levels. The Previous Week Open High Low and Close are also important for 4H swing trading. What is important is to look for CONFLUENCE of these S&Rs and also the Round Number prices . I do all these as part of my...
Thanks for your reply Emmanuel. Anyway there is something I think I have been noticing in your posts and that is " swing trading" you know i am just thinking do you think this kind of trading can be relevant everyday. Since the market does give this picture every market day
  • #22,314
  • Jul 23, 2013 11:11am Jul 23, 2013 11:11am
In on AU
Entered on the pullback when it turned green.

EP: 0.9241
SL: BE
Attached Image (click to enlarge)
Click to Enlarge Name: audusd-h1-vantagefx-pty-ltd.png Size: 93 KB
  • #22,315
  • Jul 23, 2013 11:18am Jul 23, 2013 11:18am
Emmanuel, I hope you see this when you come back. Please I would like that you show me by chat how you identify your support and resistance using historic price levels.
  • #22,316
  • Jul 23, 2013 11:22am Jul 23, 2013 11:22am
Quoting evilmechy
In on AU Entered on the pullback when it turned green. EP: 0.9241 SL: BE {image}
Hello evilmechy, I can see your chart but I can't find your entry price.
  • #22,317
  • Jul 23, 2013 11:23am Jul 23, 2013 11:23am
Quoting dalytec
{quote} Hello evilmechy, I can see your chart but I can't find your entry price.
I mean I can't see you indicate your point of entry
  • #22,318
  • Jul 23, 2013 11:26am Jul 23, 2013 11:26am
Quoting dalytec
{quote} I mean I can't see you indicate your point of entry
Sorry, I didn't place a line on the bar.
Here's another screenshot with the line indicating the bar.
Attached Image (click to enlarge)
Click to Enlarge Name: audusd-h1-vantagefx-pty-ltd.png Size: 96 KB
  • #22,319
  • Jul 23, 2013 12:47pm Jul 23, 2013 12:47pm
Quoting evilmechy
{quote} Sorry, I didn't place a line on the bar. Here's another screenshot with the line indicating the bar. {image}
Well I tried hard to see your indicated line but I couldn't see. Notwithstanding, if you had entered that trade on time and you went for like 30 to 35 pips I am sure you would have made your profit by now because it is a good trade set up
  • #22,320
  • Jul 23, 2013 12:51pm Jul 23, 2013 12:51pm
Quoting dalytec
{quote} Well I tried hard to see your indicated line but I couldn't see. Notwithstanding, if you had entered that trade on time and you went for like 30 to 35 pips I am sure you would have made your profit by now because it is a good trade set up
I'm still in it actually. Currently at 43 pips. I haven't exited because there hasn't been a clear break back into the 5EMA high and low.
I will probably close it soon though. Won't be letting it run when I go to bed.
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