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Trading Made Simple

  • #22,861
  • Aug 7, 2013 10:35am Aug 7, 2013 10:35am
Took this trade few minutes before London Open

There was almost an inside bar followed by a break below, with cross of TDI, knowing that the Asian momentum was down, so thought to myself that there might be a continuation with Asian move.

Trade worked very well, exited the trade manually with + 42 pips
Attached Image (click to enlarge)
Click to Enlarge Name: 8-7-2013_winner.jpg Size: 215 KB
I Have Learned to Take Some Losses to Make Profits
  • #22,862
  • Aug 7, 2013 10:52am Aug 7, 2013 10:52am
Two EJ H1 trades and one GU H1 trade today.
The first four trades on the EJ chart have already been posted but I included them here to show that trend lines can also be resistance lines. Trades one and two were confirmed by bounces off the purple trend line......trade three broke the purple trend line so a new aqua trend line was added at the new high.....trade four was taken on a bounce off that line but ended at BE. Trade five tested the aqua trend line for 3 hours and that trade was entered on a break below the previous candle and TDI cross....price failed to return to the aqua trend line so a new red trend line was drawn from the new high.....again price tested that line for three hours....entry for trade six was taken on the second red candle when price broke below yesterdays low and the TDI green crossed red and yellow. Price again tested the red line for three hours and entry for trade seven was made below the resistance lines without TDI confirmation but green was sloping down.
The GU trade was entered 30 minutes AFTER the GU news releases at the open of the second blue candle with TDI confirmation of green over red , yellow and the 50 line.....moved TP to 100.....TP hit.
Attached Image (click to enlarge)
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Attached Image (click to enlarge)
Click to Enlarge Name: 2013.8.7 gu h1.png Size: 46 KB
  • #22,863
  • Aug 7, 2013 1:10pm Aug 7, 2013 1:10pm
Possible Long coming up EJ showing regular bullish divergence.

http://charts.mql5.com/2/222/eurjpys...ad-trading.png
  • #22,864
  • Aug 7, 2013 1:12pm Aug 7, 2013 1:12pm
Quoting Phx62
Two EJ H1 trades and one GU H1 trade today. The first four trades on the EJ chart have already been posted but I included them here to show that trend lines can also be resistance lines. Trades one and two were confirmed by bounces off the purple trend line......trade three broke the purple trend line so a new aqua trend line was added at the new high.....trade four was taken on a bounce off that line but ended at BE. Trade five tested the aqua trend line for 3 hours and that trade was entered on a break below the previous candle and TDI cross....price...



Thankyou Thankyou

Your posts, charts, teachings, study guides have turned my trading around. You really have shown how simple it can be..... genius
  • #22,865
  • Aug 7, 2013 11:01pm Aug 7, 2013 11:01pm
Hello
Is this good setup? (ej)
Attached Image
  • #22,866
  • Aug 8, 2013 12:11am Aug 8, 2013 12:11am
Quoting Run
Hello Is this good setup? (ej) {image}
I guess that's the 4H chart?
Few reason why I wouldn't consider it at least not yet.
- Countertrend. It has been down trend for the past few days.
- It looks like a small retrace that occurred on Tuesday.
- The retrace went up close to the prev weekly low but moved away immediately on the same hourly bar.
- The 4H bar closed like a doji (at least on mine it did, I'm on +3 gmt)

Others might see other reasons but these are why I didn't take it.

At the moment, I'm only looking for shorts on EJ and UJ. Managed to snag 100pips total last night thanks to them.
  • #22,867
  • Aug 8, 2013 12:27am Aug 8, 2013 12:27am
Quoting Run
Hello Is this good setup? (ej) {image}
Another observation, looking at H4 is the best trades seem to happen when the blue line is either crossing or very close to the market base line.
  • #22,868
  • Aug 8, 2013 1:15am Aug 8, 2013 1:15am
+100 in total on EJ overnight and this morning. First one taken with a rejection of the low of yesterday. a nice angle on H1 tdi, M15 also looking good, it JUST made the +50 before turning. 2nd trade was taken because H1 had just crossed, but had also been unable to close above the daily pivot, M15 had crossed down as well as being below the market baseline.
Attached Image (click to enlarge)
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  • #22,869
  • Edited 1:43am Aug 8, 2013 1:34am | Edited 1:43am
I'm in on EJ & UJ currently.
EJ - +56
UJ - +43
Not looking to close yet since both just passed the prev day low
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: usdjpy-h1-vantagefx-pty-ltd.png Size: 88 KB
  • #22,870
  • Aug 8, 2013 1:38am Aug 8, 2013 1:38am
Quoting lastingwell
+100 in total on EJ overnight and this morning. First one taken with a rejection of the low of yesterday. a nice angle on H1 tdi, M15 also looking good, it JUST made the +50 before turning. 2nd trade was taken because H1 had just crossed, but had also been unable to close above the daily pivot, M15 had crossed down as well as being below the market baseline. {image}
Great trades LW!
.... laughing all the way to the bank
  • #22,871
  • Aug 8, 2013 1:38am Aug 8, 2013 1:38am
Quoting evilmechy
I'm in on EJ & UJ currently. EJ - +56 UJ - +43 Not looking to close yet since both just passed the prev day low
I just hate this time of day, too many times holding onto trades only for them to come back at me.
  • #22,872
  • Aug 8, 2013 1:39am Aug 8, 2013 1:39am
Quoting itsallover
{quote} Great trades LW!

Thank you Kelly
  • #22,873
  • Aug 8, 2013 1:55am Aug 8, 2013 1:55am
Quoting lastingwell
{quote} I just hate this time of day, too many times holding onto trades only for them to come back at me.
Haha, I know what you mean. I just placed my sl in and shall see how it goes.
Still learning a lot about when I should exit and stuff.
  • #22,874
  • Aug 8, 2013 2:12am Aug 8, 2013 2:12am
can some one give me some ideas to manage trade when the news coming soon ?
  • #22,875
  • Aug 8, 2013 2:32am Aug 8, 2013 2:32am
Quoting lastingwell
+100 in total on EJ overnight and this morning. First one taken with a rejection of the low of yesterday. a nice angle on H1 tdi, M15 also looking good, it JUST made the +50 before turning. 2nd trade was taken because H1 had just crossed, but had also been unable to close above the daily pivot, M15 had crossed down as well as being below the market baseline. {image}
Great, great! Love to see your trading charts. Thank you and please often share your chart.
Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #22,876
  • Aug 8, 2013 2:37am Aug 8, 2013 2:37am
Quoting lastingwell
+100 in total on EJ overnight and this morning. First one taken with a rejection of the low of yesterday. a nice angle on H1 tdi, M15 also looking good, it JUST made the +50 before turning. 2nd trade was taken because H1 had just crossed, but had also been unable to close above the daily pivot, M15 had crossed down as well as being below the market baseline. {image}
Very good trade
  • #22,877
  • Aug 8, 2013 2:47am Aug 8, 2013 2:47am
Hi All

Just want to say hi to every one here. I am new to forex and just learning this method. Currently i am going through the thread from the start.
I wish to say a big thank you to all the senior members who are helping out the newbies like me. In the coming days I will post my queries as i
demo trade this system. Hopefully I can understand and trade this system well like you guys. Good luck to all of you..
  • #22,878
  • Aug 8, 2013 2:48am Aug 8, 2013 2:48am
Hi longbk,

This is what BIG E. had to say about News ...

News... hummm... It can have a big effect on the 5/15/30 minute charts and 1 hour

too at certain times. While trading the 4hr charts I don't pay much attention to it

UNLESS IT'S a MAJOR news release... If it's major (red on FF Calendar) I'll wait

until after the news release and the market calms down...


Good succes
  • #22,879
  • Aug 8, 2013 3:09am Aug 8, 2013 3:09am
how are you guys doing? i have been busy the past few days, so i have not demo-traded that much this week.
  • #22,880
  • Aug 8, 2013 3:24am Aug 8, 2013 3:24am
Quoting lastingwell
+100 in total on EJ overnight and this morning. First one taken with a rejection of the low of yesterday. a nice angle on H1 tdi, M15 also looking good, it JUST made the +50 before turning. 2nd trade was taken because H1 had just crossed, but had also been unable to close above the daily pivot, M15 had crossed down as well as being below the market baseline. {image}
Nice trades Lastingwell......I took the same trade as your second trade. I also took an AU trade during the Asian session on a bounce of green off yellow and just crossing the red.......with a break above the 1st blue candle......
Attached Image (click to enlarge)
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Attached Image (click to enlarge)
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