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Trading Made Simple

  • #23,041
  • Aug 12, 2013 9:46am Aug 12, 2013 9:46am
Quoting Fx-optimus
I have entered short in NZDUSD at the opening of H$ candle. The next H4 candle just opened few minites before forming a hook in TDI green. Should I exit the trade or continue to wait for the next H4 candle. Same is the case with my short entry in AUDUSD as well as AUDCAD. Can some one experienced here give me advise why these trades are going against the entries made as per the rule book. I have come across similar situation last week in NZDUSD short entry hitting my stop loss well above the recent higher high few candles before. Looking for comments...
i maybe not be experienced. but that area has been support and resistance in the past
Come tomorrow, I'll wake up new
  • #23,042
  • Aug 12, 2013 9:50am Aug 12, 2013 9:50am
manually closed the USDJPY pairs with +7 each...(7x3=21) instead of 120pips when I saw this on 1h chart.and the DOUBLE BOTTOM at h4

Seems like a good 30-40pips down before retesting the 4h resistance again
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY.png Size: 28 KB
  • #23,043
  • Aug 12, 2013 9:52am Aug 12, 2013 9:52am
Quoting heispark
{quote} EU is still brewing or already lost opptunity... Very boring.
For EU, waiting to cross de 200 ema and 1.33, but anyway, if I enter I don't expect too much as we have three resistences at least, daily open, yesterday's low and last month high, so....
  • #23,044
  • Aug 12, 2013 9:53am Aug 12, 2013 9:53am
Quoting gsbharaj
{quote} i maybe not be experienced. but that area has been support and resistance in the past
Thank you Doctor. You are correct. One reason I figured out is that the market is around the daily pivot. I should have waited for couple of H4 candles and entered. Anyhow I have my stop loss above the R1.

FxOptimu$
  • #23,045
  • Aug 12, 2013 10:06am Aug 12, 2013 10:06am
Hi ppl,

Do you have a public myfxbook system to see the result of the original strategy? Thx.
  • #23,046
  • Aug 12, 2013 10:37am Aug 12, 2013 10:37am
Quoting evilmechy
I was able to get 10pips from EJ this morning. Got stopped out after I moved my SL. And currently in EU +26 I'm thinking of closing. What does anyone else think? {image} My charts are going to look small and clumped up for awhile.. My other laptop died and using my mac now ~.~
Stopped out at +30.

Total for the day
+10 EJ
+30 EU
  • #23,047
  • Aug 12, 2013 10:46am Aug 12, 2013 10:46am
i am still sticking with shorting the eurusd on daily chart. the price is at weekly pivot point. i am waiting for the price to hit 1.32362
Come tomorrow, I'll wake up new
  • #23,048
  • Aug 12, 2013 10:46am Aug 12, 2013 10:46am
Moved SL to BE+1 in UJ. Let's see if it gets to TP or not. I have not enter EU although it has crossed ema200 and 1.33. It might be a lost oportunity, i don't know but many things that i don't like, tdi has crossed down in D1, H4 is clearly down, resistences near.....
  • #23,049
  • Aug 12, 2013 10:46am Aug 12, 2013 10:46am
Quoting FxLapozi
manually closed the USDJPY pairs with +7 each...(7x3=21) instead of 120pips when I saw this on 1h chart.and the DOUBLE BOTTOM at h4 Seems like a good 30-40pips down before retesting the 4h resistance again {image}
Current trades.

Signal triggered in 1h chart as shown in my post above
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY.png Size: 8 KB
  • #23,050
  • Aug 12, 2013 10:54am Aug 12, 2013 10:54am
Quoting tradefish
Moved SL to BE+1 in UJ. Let's see if it gets to TP or not. I have not enter EU although it has crossed ema200 and 1.33. It might be a lost oportunity, i don't know but many things that i don't like, tdi has crossed down in D1, H4 is clearly down, resistences near.....
Yes, it looks tempting there in 1h but the 4h and day chart seems to indicate downward movement.

However,If the hourly candle close above 3310, I will close my trades with the profits and reenter short tomorrow.
  • #23,051
  • Aug 12, 2013 11:08am Aug 12, 2013 11:08am
Trade exit. 4h shows north journey
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD.png Size: 25 KB
  • #23,052
  • Aug 12, 2013 11:49am Aug 12, 2013 11:49am
Quoting FxLapozi
Trade exit. 4h shows north journey {image}
nah i think it is going to go down. this is quite close to the weekly pivot point
Come tomorrow, I'll wake up new
  • #23,053
  • Aug 12, 2013 12:10pm Aug 12, 2013 12:10pm
Quoting gsbharaj
{quote} nah i think it is going to go down. this is quite close to the weekly pivot point
It's okay. I will reenter short once the daily bar is closed. For now, the PA is horrible with the lack of movement.
  • #23,054
  • Aug 12, 2013 12:29pm Aug 12, 2013 12:29pm
The market has fooled me with one H4 candle going against my order and I was seriously questioning why is it happening. In reality I should wait until the orders hit stop loss. As Eric stated rarely stop loss is hit in H4. All my orders are now coming back. However, couple of orders I closed in small oss. I shouldn't have done that. I now understand that once the order is placed with stop loss in place above couple of previous candles as per money management, just leave the market to play out the game. Now I have added orders in few more pairs. There are orders in eight pairs. All of them have clear entry opportunities in H4 charts. As regard to EURUSD and GBPUSD, both are likely sell opportunity in daily charts. However, I will enter in these pairs also tomorrow as soon as the Asia session starts. It is really fun to trade the TMS. I have all the pairs of my broker opened. Once in 4 hours I check them and make my entries. I am a basket trader. So it doesn't matter what pair I am trading as long as the bottom line shows in plus.

Thanks for the traders responded to my queries.

Happy trading
FxOptimu$
  • #23,055
  • Aug 12, 2013 12:31pm Aug 12, 2013 12:31pm
Quoting Phx62
{quote} Yes...that is a valid set up....aggressive entry would be at the open of the 2nd green candle, where you have you arrow....conservative entry would be on a break above the 1st green candle......the only concern would be that the TDI is entering the overbought area so I would not expect the trade to make a long move up without a retracement......
Thank you for sharing this.
  • #23,056
  • Aug 12, 2013 12:41pm Aug 12, 2013 12:41pm
Quoting vtayha
{quote} that was a nice trade at the bounce off the BRN 128.00. but the TDI green did not cross the red at that point when you entered, the TDI only crossed when that H1 candle closed. prices tend to react at price numbers ending with 00 25 50 and with increase in tick volume.
Quoting vtayha
{quote} H1 candle before that H1 doji is a huge red H1 candle and the H1 TDI crossed down. and with that H1 doji, the APB is still red. if you followed that H1 candle in realtime, that H1 candle where he open his trade was still red APB. IMHO, that H1 trade was not classic TMS
Quoting vtayha
{quote} barloc, very good point... thanks! for new TMS traders, seeing just H1 alone it would be very difficult to see how that H1 trade would have been taken even with price action- a huge red candle follow with doji even with s support below does not make that entry a high probability one. No doubt that trade ended up +50pips made that all good. . but with M15, the setup with TDI and APB is very much clearer. I followed X-man S3 H1 trading and his method is price action entry with TDI cross to confirm.
You are correct about the bounce at the Round number but you are incorrect about the TDI cross......the TDI crossed at the OPEN of the candle where I entered.....not the close. If you follow the vertical line down to the TDI, the point where it crosses the TDI is where the TDI was when the entry candle OPENED. In addition, there was also a bounce of the green off the oversold area that I did not mention in my comments....I took the trade realizing that it was not an A+++ setup (time of day, candle not yet changed colors, entry on 1st candle color change) and if price had retraced below the monthly low again, I would have exited with a small loss.....I also took the trade based on what I saw on the charts with bounces of price off the monthly low.....it did not just hit that low and bounce right back up....it tested that resistance for 2+ hours before moving back up.....that, coupled with the TDI crossing on the H1, a good setup on the M15, a bounce of the TDI RSI green off the oversold area and the TDI cross of green over red were enough for me to enter the trade. IMHO, the long red candle was an indecision candle verified by the long wicks at both ends of that candle. Also in my opinion, that candle was negated by the items I described above.
If we look for reasons NOT to enter trades or if we look for reasons TO enter trades, we will find both. I choose to focus on reasons TO enter trades and when I find enough reasons to enter, I do so. In my earlier trading experiences, I have done the opposite and looked for reasons NOT to enter trades that later proved to be successful trades....only I was not in them, so I missed many opportunities to earn pips. When my mindset was to find reasons not to enter trade, I also exited many trades too early and missed lots of pips. Once I changed my outlook and started looking for reasons TO enter trades, my trading turned around and I began to learn when to stay in trades to earn those pips. I have found that focusing on POSITIVE reasons to enter and stay in trades nets much better results.

Quoting lastingwell
. {quote} phx works on the H1 chart, he doesn't wait at all for a definite cross of the tdi, he watches price action and support/resistance first with the tdi as confirmation, not the other way around like someone might on the H4 chart. It also wasn't just a BRN, it was last months low as he pointed out.
Quoting lastingwell
{quote} I'm sure he will reply when he wakes up, but there was no strong red candle before he bought and the TDI had turned up. The candle before was a doji right on support.
You are absolutely correct...thanks.......

lastingwell, adamjhdavis, barloc, Direwolf, heispark, emmanuel, The Scorps, and others......I appreciate your efforts to learn and understand this trading method and explain it to others. It works for me and I think some of the rest of you are having some success with it, as well. The main reason I continue to post trades and stay active in this thread is to help others learn how to be successful with this system.
I use TDI as a confirmation tool.....remember that the TDI is a lagging indicator and it lags behind price, so if we can watch what price does, we can make good early entries to earn pips and confirm our decisions with the TDI. If I had waited for the entry candle to turn blue on the trade I posted, I would have not reached the TP. A positive outlook and focusing on what constitutes a good trading opportunity, then taking that next step to enter and stick with a trade will make you successful. We all must make good entries and exits to be successful.....many green pips to all of you.....
  • #23,057
  • Aug 12, 2013 12:49pm Aug 12, 2013 12:49pm
Quoting lastingwell
{quote} I would agree with that if his was an actual stop loss of 50 and not an emergency stop loss, but going by his posts his actual average stop loss probably only works out to around 14-16 pips with an average take profit of 50 so more like a 1:3 R:R.
Finally....someone that understands an EMERGENCY SL.....
  • #23,058
  • Aug 12, 2013 12:51pm Aug 12, 2013 12:51pm
Quoting Phx62
{quote} {quote} {quote} You are correct about the bounce at the Round .....
Hi

I have been trading for the last one week TMS in my live account with some success and some failures. It is up hill task for me to read all the posts and pages. I read all the post by Eric compiled by some one. It is fairly easy and simple to understand and trade this method. I raised few questions above today. From your reply I undestand that you have expertised over this method. Can you please guide me with the latest entry exit rules that you have been successfully trading.

Your response will add value to my trading. Thanks in advance.

FxOptimu$
  • #23,059
  • Aug 12, 2013 1:12pm Aug 12, 2013 1:12pm
usually what stop loss are you guys setting for the trades?
Come tomorrow, I'll wake up new
  • #23,060
  • Aug 12, 2013 1:36pm Aug 12, 2013 1:36pm
Quoting Fx-optimus
{quote} Hi I have been trading for the last one week TMS in my live account with some success and some failures. It is up hill task for me to read all the posts and pages. I read all the post by Eric compiled by some one. It is fairly easy and simple to understand and trade this method. I raised few questions above today. From your reply I undestand that you have expertised over this method. Can you please guide me with the latest entry exit rules that you have been successfully trading. Your response will add value to my trading. Thanks in advance....
I try to explain entry and exit strategy in my posts. Rather than trying to repeat information that I have already posted many times, there are a couple of options.....for my most recent posts just click on my avatar/name above and open the thread reply section....you will find my most recent posts there. For a more in depth view, someone has put together 3 PDF's of my past posts.....they can be found by clicking on the paperclip symbol at the top of the page and you can scroll down the attachments until you find the PDF's to download.
Success to you in your trading venture......
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