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Trading Made Simple

  • #22,821
  • Aug 6, 2013 7:59am Aug 6, 2013 7:59am
Quoting kingdomk
I'm wondering if anyone can help me with ATR level exit points
Found it for you
Attached File(s)
File Type: pdf dcginc posts (1).pdf   880 KB | 679 downloads
Don’t ever let someone tell you that you can’t do something.
  • #22,822
  • Aug 6, 2013 8:11am Aug 6, 2013 8:11am
EU H1 +33
Entry after Pullback (and EMA200 reject)
Not exited after long bar due to TL break....
Manual exit near Yesterday HI + RN 1.300 (and previous high)
Thanks to all and Phx62
Attached Image (click to enlarge)
Click to Enlarge Name: eurusdh1.png Size: 19 KB
  • #22,823
  • Aug 6, 2013 8:15am Aug 6, 2013 8:15am
Thank you Armacon and Sufclimbfly for your reactions:

I did not known there was a difference in chart setup between 1h and 4h.
I live in GMT time zone, I thought trying 1h charts fits best for me.
I still have a lot to learn, thanks for pointing me to my faults.
I will search the tread on how to trade with price action channels (1h charts)

All the best
  • #22,824
  • Aug 6, 2013 8:19am Aug 6, 2013 8:19am
Quoting heispark
{quote} Thank you very much for your feedback, Sir. I know you use Daily_High_Low.mq4 indicator to draw Daily high/low and you manually draw weekly and monthly high/low. The H4 high/low lines in your chart doesn't look come from either BreakOut_BOX or any other pivot indicators you ever mentioned. Although I did a due diligence to make a search for good 4H high/low indicators, I couldn't find what I like. H4 Hi-Lo lines (Black).ex4 indicator which Emmanuel uploaded long ago looks ok, but it requires manually refresh. Unless your indicator is private,...
You can find the H4 indicator I use here:
http://www.forexfactory.com/attachme...5&d=1351067837

Edit
I just tried the link.....it did not work for me. The name of the indicator is the H4_hi_low_middle and it can be found on the thread named Another simple system-Time-Frame-15 started by loveevery1.
  • #22,825
  • Aug 6, 2013 8:20am Aug 6, 2013 8:20am
Quoting Oaktree
Thank you Armacon and Sufclimbfly for your reactions
No problem Oaktree, when starting to trade it is easier trading 4H charts, you have more time and more margin for error. The lower the TF the more precision you need on entering and exiting the market. If you are really new I think it's best to start with 4H and if you mastered it you can go down to 1H and maybe one day become an expert like PHX62
Don’t ever let someone tell you that you can’t do something.
  • #22,826
  • Aug 6, 2013 8:26am Aug 6, 2013 8:26am
Quoting Phx62
{quote} You can find the H4 indicator I use here: http://www.forexfactory.com/attachme...5&d=1351067837 Edit I just tried the link.....it did not work for me. The name of the indicator is the H4_hi_low_middle and it can be found on the thread named Another simple system-Time-Frame-15 started by loveevery1.
Hi Phx62, the link is correct...
  • #22,827
  • Aug 6, 2013 8:33am Aug 6, 2013 8:33am
Quoting kingdomk
I'm wondering if anyone can help me with ATR level exit points. Currently I use swing high/low but have also seen people mentioning ATR range for exit points and stop losses. Could someone please be so kind to explain, and attach any indicators that works well with this system. Help is much appreciated, thanks!
Kingdomk,

I'm not too sure about the use of ATR for use in depicting specific exit points but the use of ATR to work out Initial SLs and Trailing Stops is not new.
However, in relation to Initial SLs and Trailing Stops you need to look up Chandelier Exits
http://forex-indicators.net/volatili...handelier-exit
There is an explanation there as well as an indicator for you to DL, if you find that that is what you are looking for.

Cheers mate
  • #22,828
  • Aug 6, 2013 8:48am Aug 6, 2013 8:48am
Quoting Phx62
{quote} You can find the H4 indicator I use here: http://www.forexfactory.com/attachme...5&d=1351067837 Edit I just tried the link.....it did not work for me. The name of the indicator is the H4_hi_low_middle and it can be found on the thread named Another simple system-Time-Frame-15 started by loveevery1.
I don't know how to thank you Sir. I really appreciate your help!
Have a nice day.

Thanks
Justin
Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #22,829
  • Aug 6, 2013 9:22am Aug 6, 2013 9:22am
Two EJ H1 trades today.....one during the Asian session.....set TP to +40 instead of +50 because I did not know if the trend line would hold or not.......price did move the +50 pips but +40 meets my goal for the day. The second trade, taken following LO did not go to TP.....came back and hit BE.
Attached Image (click to enlarge)
Click to Enlarge Name: 2013.8.6 ej h1.png Size: 58 KB
  • #22,830
  • Aug 6, 2013 9:23am Aug 6, 2013 9:23am
Thank you Armacom and surfclimbfly!

Much appreciated guys - I will read up on this but I think I may be over complicating things and choose to stick to swing highs and lows.

Smarco - Looks like an excellent entry point!
  • #22,831
  • Aug 6, 2013 9:37am Aug 6, 2013 9:37am
Until recently I used ATR 14 a lot but now I find pivot points to be better for spotting potential TP areas. I may use it for SL too but I also like a recent swing hi or lo so nothing set in stone for SLs.
  • #22,832
  • Aug 6, 2013 9:38am Aug 6, 2013 9:38am
Hi, this looks as a buy opportunity on the 4 h - eurgbp - Note: I am learning
Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp.png Size: 62 KB
  • #22,833
  • Aug 6, 2013 3:22pm Aug 6, 2013 3:22pm
Took this trade long, inside bar followed by a candle close above inside bar and change of color with cross of TDI , 1 hour after LO

TP reached for + 29 pips
Attached Image (click to enlarge)
Click to Enlarge Name: Inside Bar.jpg Size: 231 KB
I Have Learned to Take Some Losses to Make Profits
  • #22,834
  • Aug 6, 2013 3:28pm Aug 6, 2013 3:28pm
Quoting Phx62
{quote} You can find the H4 indicator I use here: http://www.forexfactory.com/attachme...5&d=1351067837 Edit I just tried the link.....it did not work for me. The name of the indicator is the H4_hi_low_middle and it can be found on the thread named Another simple system-Time-Frame-15 started by loveevery1.
Thanks Phx62 for the link, it works fine , many thanks for your contribution in this thread, I really am need it
I Have Learned to Take Some Losses to Make Profits
  • #22,835
  • Aug 6, 2013 5:15pm Aug 6, 2013 5:15pm
Closed trade on EUR/GBP + 10 pips - first trade on 4h is a winner! Thanks guys!
  • #22,836
  • Aug 7, 2013 1:57am Aug 7, 2013 1:57am
Quoting Oaktree
Hi, this looks as a buy opportunity on the 4 h - eurgbp - Note: I am learning {image}
It was a good opportunity, red pinbar, cross of the TDI, good trade in my opinion Profit could have been a little more, but it's a start isn't it !
Don’t ever let someone tell you that you can’t do something.
  • #22,837
  • Aug 7, 2013 1:58am Aug 7, 2013 1:58am
Quoting TheScorpS
Took this trade long, inside bar followed by a candle close above inside bar and change of color with cross of TDI , 1 hour after LO TP reached for + 29 pips {image}
Well done Scorps, becoming really consistent !
Don’t ever let someone tell you that you can’t do something.
  • #22,838
  • Aug 7, 2013 2:12am Aug 7, 2013 2:12am
Quoting Armacom
{quote} Well done Scorps, becoming really consistent !
Thanks Armacom, I really appreciate it, I'm taking a trade a day only, if it works, I stop and if it fails I stop too, I hope what am doing is correct, but I think the turtle way and patience is a good way

I learn from the winner and the looser, in this way I can almost remember all the trade I took during the week which is 5 trades, I do also as much as possible journal my trades, so and so things getting better
I Have Learned to Take Some Losses to Make Profits
  • #22,839
  • Aug 7, 2013 2:51am Aug 7, 2013 2:51am
Looking for EU, GU buy oppotunity.....
Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #22,840
  • Aug 7, 2013 3:01am Aug 7, 2013 3:01am
Heispark - Please could you attach the chart to justify your opinion.

Thanks!
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