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Trading Made Simple

  • #22,681
  • Aug 1, 2013 4:44am Aug 1, 2013 4:44am
JPY pairs - those who buy JPY pairs all making pips now.

EJ .... be patient it will move
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #22,682
  • Aug 1, 2013 4:47am Aug 1, 2013 4:47am
USD pairs - all mixed movements right now , but pro-USD on longer term.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #22,683
  • Aug 1, 2013 5:17am Aug 1, 2013 5:17am
Quoting emmanuel7788
{quote} AJ made a nice 155 pips push down yesterday. With no retracement since D opening, the way down was H-L> LH - LL> LH-LL all the way. It has exceeded it average 100 weeks range of 260pips. There were several entry opportunities: - H4 Fib 38/50 entry - H1 IB entry - H1 Double IB entry - H1 Master Candle entry hope you all caught those entries. {image} {image}

Hi Emmanuel,

thank you for posting such an interesting chart , I'm really interested in price action but for sorry I cannot catch each point that you said except for IB , is there a book or a video or any information that I can read and practice about price action that you recommend ?
thanks
  • #22,684
  • Aug 1, 2013 6:38am Aug 1, 2013 6:38am
Quoting geomoon
{quote} Hi Emmanuel, thank you for posting such an interesting chart , I'm really interested in price action but for sorry I cannot catch each point that you said except for IB , is there a book or a video or any information that I can read and practice about price action that you recommend ? thanks
geomoon,

this question where to learn price action trading had been asked several times before. I know it would be unkind to tell you to read this thread all over again. But if you read my posts, i had provided links top resources on price action trading. There are many websites resources and also thread here in FF.
To start with learning, you need to be good in identifying candlesticks patterns and interpret the market sentiments usning candlestick. There is a pdf I attached in this thread by Steve Nison. Get hold of that. The next step is to learn to draw support and resistance on your charts. This is where babypips school of pipsology is the good place to study.

What I have shared here in this thread is just a small portion of price action trading because you don't need a whole lot of price action stuff to apply with this simple TMS method. Just a few of the common ones and when use with TMS it works very well.

TMS is a simple technical trading method and it is trend trading which work in all timeframes. You have to decide which timeframe you want to trade. You need to decide which market session you want to trade. You must need to know the fundamentals of trading very well and how the market works.

It is really very hard to answer your question in one post. Hope this is the start and point you in the right direction.

regards,
EMMANUEl
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #22,685
  • Aug 1, 2013 7:14am Aug 1, 2013 7:14am
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My novice trade GU buy. TP ok?
Regards
  • #22,686
  • Aug 1, 2013 7:18am Aug 1, 2013 7:18am
Hi GU buy. TP ok?
Regards
  • #22,687
  • Aug 1, 2013 7:23am Aug 1, 2013 7:23am
Quoting emmanuel7788
{quote} geomoon, this question where to learn price action trading had been asked several times before. I know it would be unkind to tell you to read this thread all over again. But if you read my posts, i had provided links top resources on price action trading. There are many websites resources and also thread here in FF. To start with learning, you need to be good in identifying candlesticks patterns and interpret the market sentiments usning candlestick. There is a pdf I attached in this thread by Steve Nison. Get hold of that. The next step...
Emmanuel,

first I want to thank you for your reply specially when it's clear that you answered this question many times and sorry if I was bothering you.
as you can tell that I'm new to the whole of these stuff and I've read a lot and watched many videos and I'm a already practicing a Demo account which I'll end up with live account soon...I hope.
like any newbie I need to separate what's important and what really works as there are a lot and you can spend a life time while just reading everything about it , but I noticed that a lot successful traders like your self, Phx62,Dee are talking many times about price action which I believe at this point it cannot be achieved unless you watch the price for a long time.
I read the first 20 pages of this thread , and a lot of PDF's for Ph62 and others, and I discovered how things evolved but to be honest I want to see the latest and what's really going now, for example Big E trading plan was build on 4H, but now you use it on 1H with price action, Phx was trading EU but not any more, he is trading EJ because of volatility range......, you see as Big E " Gad rest his soul " wanted that everyone share with his ideas which could end up with something new and useful to traders specially who are beginners like me.
for now I use a Demo account and trade London session only , I meet Dee on other treads and learned from him 123 pattern and to combine it with TMS , he is a wonderful guy and I like his trading style which I find great and matches what like and I made a good results learning from him.
I just want to learn more about price action and I wanted it to be from a true successful trader like you, not from a sales pitch webnar.
I'll keep reading till the last hair falls from my head
thanks again and wish you the best
  • #22,688
  • Aug 1, 2013 8:12am Aug 1, 2013 8:12am
any advice appreciated

Sold at doji after 9:00 candle hit 200 ema and LO retraced after. What other reasons should I ahve taken this trade and what reasons should I not have taken this trade?
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  • #22,689
  • Aug 1, 2013 8:35am Aug 1, 2013 8:35am
Quoting tenmilewalk
any advice appreciated Sold at doji after 9:00 candle hit 200 ema and LO retraced after. What other reasons should I ahve taken this trade and what reasons should I not have taken this trade? {image}
look at H4 TDI and also the composite strength of all JPY pairs today... market sell Yen.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #22,690
  • Aug 1, 2013 9:15am Aug 1, 2013 9:15am
Good easy NY session today. Took EJ long when broke up last day high and made 50+. NU is also good recently. I missed it.
Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #22,691
  • Aug 1, 2013 9:24am Aug 1, 2013 9:24am
Quoting heispark
Good easy NY session today. Took EJ long when broke up last day high and made 50+. NU is also good recently. I missed it.
today 1st day of the month, easy day for TMS 4H traders .... all make good pips .. good start to the month.

Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #22,692
  • Aug 1, 2013 9:54am Aug 1, 2013 9:54am
Three trades today on EJ H1.....the two winners were also taken and posted by others in this thread. All three trades were classic TMS trades taken at the open of the second candle following a color change and confirmed by a TDI cross (I disregarded the doji IB on the first trade as a color change candle). On the loser, price failed to continue following a pullback of the LO candle......also known as a LO fake out candle.....that happens quite often and is not unusual.
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  • #22,693
  • Aug 1, 2013 12:20pm Aug 1, 2013 12:20pm
Quoting tenmilewalk
any advice appreciated Sold at doji after 9:00 candle hit 200 ema and LO retraced after. What other reasons should I ahve taken this trade and what reasons should I not have taken this trade? {image}
I made the same trade, as did phx62, there is nothing wrong with your entry, but your exit isn't great, PA changed and a change of candle color changed, exit should of been the close of the 1st blue candle if not before, (took -20 on the trade).
  • #22,694
  • Aug 1, 2013 1:27pm Aug 1, 2013 1:27pm
Quoting Phx62
Three trades today on EJ H1.....the two winners were also taken and posted by others in this thread. All three trades were classic TMS trades taken at the open of the second candle following a color change and confirmed by a TDI cross (I disregarded the doji IB on the first trade as a color change candle). On the loser, price failed to continue following a pullback of the LO candle......also known as a LO fake out candle.....that happens quite often and is not unusual.{image}
Thankyou phx62 I have read a lot of your stuff and really starting to make good pips on EJ. Your selfless willingness to help is a seldom thing in this world so thankyou.

I wondered on your third trade did I spot that there was divergence and if so did that play a part in your decision to take the trade?
Also in your study guide part II you talk a lot about the 200 ema, is this something you still use?

Kind regards

Adam
  • #22,695
  • Aug 1, 2013 2:07pm Aug 1, 2013 2:07pm
Took the following GU trade on 4H TF at market.
PA made a new LL broke the range of the previous 8 candles. TDI cross below the MBL and under 50. My only concern is that we are in the oversold area and the 50% fib was not properly broke.
A big SL of 90 pips but I'm playing small size.
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  • #22,696
  • Aug 1, 2013 2:19pm Aug 1, 2013 2:19pm
Quoting adamjhdavis
{quote} Thankyou phx62 I have read a lot of your stuff and really starting to make good pips on EJ. Your selfless willingness to help is a seldom thing in this world so thankyou. I wondered on your third trade did I spot that there was divergence and if so did that play a part in your decision to take the trade? Also in your study guide part II you talk a lot about the 200 ema, is this something you still use? Kind regards Adam
Adam,
There was no divergence....price was in an uptrend and the TDI was also moving up....
Yes....I still have the 200 EMA on my H1 charts and when price is around that EMA I treat it like any other support or resistance line....in the case of my third trade, price had already broken through the 200, came back and tested it with the first two candles of London. The next two candles stayed above the 200, then price tested it again before pulling away. Entry was made at the open of the second blue candle following NY news and price then pulled away from the 200. If price had moved back down through the 200, I would have waited for an entry signal to go short. I am always cautious about entering a trade until I see what is going to happen with price around the EMA or a S/R line or a Trendline. If I am already in a trade, I will move the SL a little closer and watch and wait it out.
  • #22,697
  • Aug 1, 2013 4:59pm Aug 1, 2013 4:59pm
Quoting emmanuel7788
JPY pairs - those who buy JPY pairs all making pips now. EJ .... be patient it will move

12 hours later ... EJ finally moved +150pips now.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #22,698
  • Aug 1, 2013 5:07pm Aug 1, 2013 5:07pm
Quoting emmanuel7788
USD pairs - all mixed movements right now , but pro-USD on longer term.
12 hours later ... all USD pairs ran nicely.


4H traders must remember to be patient and not to manage your 4H swing trade looking at lower TF market noise. When you trade H4 chart , you must manage in H4 and do not let the lower TF price movement affect your judgement in trade management decision. You must believe in your chart analysis and in what you see in your 4H trade setups.

4H swing trades can last from 2 to 4 days during the week. You have plenty of time in between to do other things more important in your life. Use a trade manager EA to help you make those trade management decisions.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #22,699
  • Aug 1, 2013 5:26pm Aug 1, 2013 5:26pm
Quoting gigicualex
Took the following GU trade on 4H TF at market. PA made a new LL broke the range of the previous 8 candles. TDI cross below the MBL and under 50. My only concern is that we are in the oversold area and the 50% fib was not properly broke. A big SL of 90 pips but I'm playing small size. {image}
GU downtrend is still intact... so sell the rally. new month start, follow May candle ...
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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #22,700
  • Aug 1, 2013 5:35pm Aug 1, 2013 5:35pm
Thinkking of going long nzd/usd but I'm worried of strong dollar, maybe a not so good idea...
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