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Trading Made Simple

  • #22,421
  • Jul 25, 2013 11:52pm Jul 25, 2013 11:52pm
Quoting fx light
{quote} Thank you RM, i really enjoy reading your replies, you cant tell how helpful it is to my trading development.i wish to follow this system for rest of my forex life. is the D1 entry at they beginning of today's candle? though i saw they setup earlier, i was waiting for a close below the previous day candle. a sort of confirmation. i have studied this thread to the best of my understanding and made some profits. Maybe i am not understanding it well. what is the A+++?
I don't trade D1 but if I did, I would be looking at this:

Attached Image (click to enlarge)
Click to Enlarge Name: 7-26-2013 12-42-29 PM.jpg Size: 110 KB


I would also look at the lower TF H4 which gives us more information like this:

Attached Image (click to enlarge)
Click to Enlarge Name: 7-26-2013 12-46-20 PM.jpg Size: 117 KB


Rgds
RM
  • #22,422
  • Jul 26, 2013 12:11am Jul 26, 2013 12:11am
Quoting emmanuel7788
{quote} excellent post by retireme. that first blue candle is a A+++ 4H trade setup candle, why?
A+++ because 0.9132 is support and APB change color and inside bar 4H break ha
Attached Image (click to enlarge)
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  • #22,423
  • Jul 26, 2013 12:18am Jul 26, 2013 12:18am
Quoting Fx94
Thank you for this fast response. But there appears more questions for me: 1) How can i avoid this slippages. As i understood in a german explanation slippages are unavoidable. Or asked in another way: How should i react in situations like this ? 2) The same thing here...how can i differentiate between "real bounces" and "dead bounces". How should i react in this situations ? 3) What colours do you suggest for me. I have the real chart in the foreground.

slippage - I don't know how to avoid them. I accept them when it happens.


colours in our charts is more a matter of personal preference. But I stick to coventiona way hpw most charts are coloured.
bullish is usually blue, green, white, blank,
bearish is usually red, black, solid,

I get confused when I see blue bullish bars, green bearish bars ... its just me.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #22,424
  • Jul 26, 2013 12:23am Jul 26, 2013 12:23am
Dead Cat Bounce:
on our charts, when we see a strong price move, it tends to bounce at support and resistance, also at round numbers price, 00, .50 , .25, ... price levels.
don't simply jump into the market thinking price will move in the direction of the bounce.
'bounce' also occur when market session opening and closing times...
Attached Image (click to enlarge)
Click to Enlarge Name: GBPCHF deac cat bounce 26-7-2013 1-08-57 PM.png Size: 73 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #22,425
  • Jul 26, 2013 12:29am Jul 26, 2013 12:29am
Quoting thomi
{quote} A+++ because 0.9132 is support and APB change color and inside bar 4H break ha {image}

thomi,

... we must always pay closer attention when market is in consolidation, support and base seen, then an IB, then a doji like bar, ...bang breakout candle with strength, momentum , increase volatility .. this is exactly the kind of setups we want to jump in.

I don't like the APB over my real price bars because the wide body APB obscure the real price high -low and i cannot see the inside bar clearly.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #22,426
  • Jul 26, 2013 12:30am Jul 26, 2013 12:30am
Quoting retireme
{quote} I don't trade D1 but if I did, I would be looking at this: {image} I would also look at the lower TF H4 which gives us more information like this: {image} Rgds RM
you would have entered earlier...
i am the lord that giveth thee power to create wealth.
  • #22,427
  • Jul 26, 2013 12:39am Jul 26, 2013 12:39am
Quoting dalytec
{quote} You can still go short to make your guaranteed 30 pips, but make sure your sl. is set at 50 pips more than your entry price.
that would become a negative R-multiplier on my account. stayed out
i am the lord that giveth thee power to create wealth.
  • #22,428
  • Jul 26, 2013 1:08am Jul 26, 2013 1:08am
long aud usd Bullish Engulfing h4 , i see h1 Bullish Engulfing also
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: aud1.JPG Size: 113 KB
  • #22,429
  • Jul 26, 2013 1:16am Jul 26, 2013 1:16am
20 pis spread on tyhis pair
Attached Image (click to enlarge)
Click to Enlarge Name: usdzarh1.png Size: 37 KB
i am the lord that giveth thee power to create wealth.
  • #22,430
  • Jul 26, 2013 3:15am Jul 26, 2013 3:15am
Morning.
Not much going on today in the market.

I'm just curious to know: What do fulltime 1H traders do between the hourly closes besides managing open positions?
Given you have no open trades. Do you just sit there and watch, read a book, watch tv or look for setups in smaller timeframes (that is most likely what I would do).

Furthermore it seems there are successfull traders like Phx62 who literally trade breakouts (from the H/L of preceding candles) before the 1H closes. Then there might be traders who would always wait for the close in order to prevent TDI from repainting that much and to filter out fake moves. I assume both methods are legit while the first one has more potential but needs more experience as well.

Regards
  • #22,431
  • Jul 26, 2013 3:15am Jul 26, 2013 3:15am
Quoting thomi
long aud usd Bullish Engulfing h4 , i see h1 Bullish Engulfing also {image} {image}
Can anyone offer some advice?

I always experience uncertainty with taking a trade of this nature, ie close to an area of resistance.

In this case:
- price is at a previous Daily and Weekly high
- price has touched this level three times previously since 10 July, but not managed to close above .9300
- TDI is above 50, pointing up, with room to move up
- price below 200ema

In essence, by entering long now, we are hoping for a breakout.

Questions:
1. Would one enter long:
- after price closes above .93?
- after a break and pullback and when .93 is shown to have become support?

2. If TDI is King on higher timeframes like H4 and D1, when does PA overrule?
Attached Image (click to enlarge)
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  • #22,432
  • Jul 26, 2013 3:21am Jul 26, 2013 3:21am
Just got into my office, open my chart and saw this lost trade. USDZAR is a strange pair to trade with 20pips spread? is this normal?. never trading this pair Again!!! what a painful experience. if not for the wide spread, i would have lost 20 pips only but i lost 40pips.
Attached Image (click to enlarge)
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i am the lord that giveth thee power to create wealth.
  • #22,433
  • Jul 26, 2013 3:22am Jul 26, 2013 3:22am
sorry axiom it's not eurusd but audusd
  • #22,434
  • Jul 26, 2013 3:27am Jul 26, 2013 3:27am
USDJPY... Two trades done already... Life is good.
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy 26-07-2013.jpg Size: 357 KB
Be the dragon master...
  • #22,435
  • Jul 26, 2013 3:34am Jul 26, 2013 3:34am
Quoting mastersm
USDJPY... Two trades done already... Life is good. {image}
How are you doing mastersm, I Hope you're enjoying your trading temperament?
  • #22,436
  • Jul 26, 2013 3:42am Jul 26, 2013 3:42am
About four hours ago, when price was at 98.96 Usd/Jpy I made a post, that there is going to be a possible move on UJ because of the shoulder and head pattern which I saw. Some quashed the idea without asking how I managed to deduce my fact. Thank God someone like mastersm can post his trading result on UJ " he refers to it as a good life"
  • #22,437
  • Jul 26, 2013 3:48am Jul 26, 2013 3:48am
Quoting thomi
sorry axiom it's not eurusd but audusd
Hi Thomi

My chart is AU.
  • #22,438
  • Jul 26, 2013 3:49am Jul 26, 2013 3:49am
Attention everybody! TMS is the combined effort of Mr. Big E and the synthesis of a trader's trading temperament. Little wonder, you will discover how The likes of Emmanuel and the rest flow whenever they treat any matter as regards trading with precision in this thread. Traders in the house, I want us to wake up. TMS shows the way, but we have to pave the way for ourselves in order to articulate in the maximum trading capacity that we possess. One can only succeed when he combines his trading skill with TMS, for TMS alone may not be enough if not otherwise.
  • #22,439
  • Jul 26, 2013 4:54am Jul 26, 2013 4:54am
As it is, after which the UJ has completed the head and shoulder pattern and has broken through the potential support levels made by possible by the fib. levels. There is possibility that the downtrend may continue next week. let us watch out for this in the long run. Do have a blessed good afternoon.
Attached Image (click to enlarge)
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  • #22,440
  • Jul 26, 2013 5:14am Jul 26, 2013 5:14am
Quoting dalytec
Attention everybody! TMS is the combined effort of Mr. Big E and the synthesis of a trader's trading temperament. Little wonder, you will discover how The likes of Emmanuel and the rest flow whenever they treat any matter as regards trading with precision in this thread. Traders in the house, I want us to wake up. TMS shows the way, but we have to pave the way for ourselves in order to articulate in the maximum trading capacity that we possess. One can only succeed when he combines his trading skill with TMS, for TMS alone may not be enough if not...

Dalytec U are right but the concepts of TMS must be understood by beginners b4 adding anything to it, not to make the system a failure.
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