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Trading Made Simple

  • #23,681
  • Aug 20, 2013 3:01am Aug 20, 2013 3:01am
Quoting tradefish
{quote} I've also taken the same trade. Also look that there is a resistance in 1.5652 aprox. and it seems the price can not go above. Let's see where it goes... not good feeling with this candle but.....
I've closed the short. -12pip
  • #23,682
  • Aug 20, 2013 3:05am Aug 20, 2013 3:05am
Quoting tenmilewalk
{quote} i agree
You have 30+ pips profit I think .. if you are not feeling it, close 50% or 30%, move stop to break-even +1 and you have a free trade
But do what's in your plan, don't want you to hate me if trade goes 100+ pips in your direction
Don’t ever let someone tell you that you can’t do something.
  • #23,683
  • Aug 20, 2013 3:06am Aug 20, 2013 3:06am
Quoting emmanuel7788
{quote} Nice... Do you see a Double Inside Bar on your H4 chart?
Yes I see that. In H4 the TDI has become flat. However I have my stop loss above the recent H4 High also above the daily R1. I hope this trade go through as expected to boost my confidence. I missed lot of entries in the JPY pairs in the morning. Still I want to go slow to make it perfect. Thanks.

Fx..
Attached Image (click to enlarge)
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  • #23,684
  • Aug 20, 2013 3:10am Aug 20, 2013 3:10am
Quoting Armacom
{quote} You have 30+ pips profit I think .. if you are not feeling it, close 50% or 30%, move stop to break-even +1 and you have a free trade But do what's in your plan, don't want you to hate me if trade goes 100+ pips in your direction
hello armacom. I entered but got stop lossed. the yellow check mark refers to the entry price and the X refers to the sl price. I entered before Lo and that did not prove to be too smart. Emmanuel noted i shold have entered around asian session with a test of the high and then a pullback retracement.
  • #23,685
  • Aug 20, 2013 3:11am Aug 20, 2013 3:11am
Quoting TheScorpS
Looking at GBP/USD H1 Looks like we might get a long entry next hour, maybe just a hint that I see PA struggle to move down or side way move since GBP/USD isnt moving much these days Thanks Armacom, we can pm each other , and thanks for your replay, you have clear the water for me, thanks a lot {image}
Hope we wont get a long entry I entered a short after that bearish movement below that 4H inside bar with TDI cross and coming form 68 level ... Stop loss above double top .. Risk / Reward seems so nice, a lot of space to fall

And you're very welcome, we are here to help each other !
Don’t ever let someone tell you that you can’t do something.
  • #23,686
  • Aug 20, 2013 3:14am Aug 20, 2013 3:14am
Quoting tenmilewalk
{quote} hello armacom. I entered but got stop lossed. the yellow check mark refers to the entry price and the X refers to the sl price. I entered before Lo and that did not prove to be too smart. Emmanuel noted i shold have entered around asian session with a test of the high and then a pullback retracement.
Sorry, my mistake, I thoughed that x marked your entry .. my fault
Don’t ever let someone tell you that you can’t do something.
  • #23,687
  • Aug 20, 2013 3:15am Aug 20, 2013 3:15am
Quoting tenmilewalk
any advice appreciated Entered short upon breakout of support zone the past several days. made entry before LO. price reversed a bit. Did not enter at LO due to fear {image}
I think your entry was fine, Frankfurt made a move down, and then an inside bar , LO break below the inside bar to complete the AB=CD move of yesterday bearish leg, I have been wanting to enter short but lost the real entry when Frankfurt opened, now I'm long EUR/JPY at the completion on AB+CD Fibonacci extension completion leg, you see my entry was based on Harmonic price action principle and hope TDI follow my entry for more confirmation

I'm long GBP/USD too and both now in green , hope I manage well

I hope I have not confused you in anyway, I'm struggling too with trading, but trying as much as possible and see where things might take me
Attached Image (click to enlarge)
Click to Enlarge Name: AB=CD.jpg Size: 282 KB
I Have Learned to Take Some Losses to Make Profits
  • #23,688
  • Aug 20, 2013 3:21am Aug 20, 2013 3:21am
Quoting Fx-optimus
{quote} Yes I see that. In H4 the TDI has become flat. However I have my stop loss above the recent H4 High also above the daily R1. I hope this trade go through as expected to boost my confidence. I missed lot of entries in the JPY pairs in the morning. Still I want to go slow to make it perfect. Thanks. Fx.. {image}
Our stops are feeling the heat of price burning just beneath our chair
Don’t ever let someone tell you that you can’t do something.
  • #23,689
  • Aug 20, 2013 3:21am Aug 20, 2013 3:21am
Quoting TheScorpS
{quote} I think your entry was fine, Frankfurt made a move down, and then an inside bar , LO break below the inside bar to complete the AB=CD move of yesterday bearish leg, I have been wanting to enter short but lost the real entry when Frankfurt opened, now I'm long EUR/JPY at the completion on AB+CD Fibonacci extension completion leg, you see my entry was based on Harmonic price action principle and hope TDI follow my entry for more confirmation I'm long GBP/USD too and both now in green , hope I manage well I hope I have not confused you in anyway,...
thats some pretty advanced stuff
  • #23,690
  • Aug 20, 2013 3:21am Aug 20, 2013 3:21am
Quoting Fx-optimus
{quote} Yes I see that. In H4 the TDI has become flat. However I have my stop loss above the recent H4 High also above the daily R1. I hope this trade go through as expected to boost my confidence. I missed lot of entries in the JPY pairs in the morning. Still I want to go slow to make it perfect. Thanks. Fx.. {image}
Market wont give this one that easily.
I use 100pips initial SL and build up position above as price move back up and this will give ma an overall better average entry price. My risk remains the same at 2%.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #23,691
  • Aug 20, 2013 3:24am Aug 20, 2013 3:24am
Quoting emmanuel7788
{quote} Market wont give this one that easily. I use 100pips initial SL and build up position above as price move back up and this will give ma an overall better average entry price. My risk remains the same at 2%.
Glad you feel the same way, added 0.5% around that double top level .. that's 1% in total of the max 1.5%

Edit: Or we could use the super advanced TAH method
Don’t ever let someone tell you that you can’t do something.
  • #23,692
  • Aug 20, 2013 4:01am Aug 20, 2013 4:01am
Quoting Armacom
{quote} Glad you feel the same way, added 0.5% around that double top level .. that's 1% in total of the max 1.5% Edit: Or we could use the super advanced TAH method
Position Building:

Building position is not averaging down to losing position. It should be in your trading plan and itt is pre-calculated with Risk and Position Sizing taken into consideration.

When a trade is in positive with protected profits, we add on more positions with banked-in profits and these add on trades are risk free.

Go back and read post #20,345 for an example.

Download pdf "How to Build Positions"
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #23,693
  • Aug 20, 2013 4:28am Aug 20, 2013 4:28am
I gained on my gbpusd long....at one time I thought of clossing then bang Came the resistance.
Gained on my usdchf short easwell. Now on duty so cant access any chart. Will go home and analyse the charts.....
Guys which currency is good to trade after new york close
Come tomorrow, I'll wake up new
  • #23,694
  • Edited 4:54am Aug 20, 2013 4:30am | Edited 4:54am
hello to all my dear friends


When I started to read this thread I was a bit confused! but now I read about all of the basis of this method from all the masters in this topic and now this method is my buddy and I am using it in the best way and it is making pips!


If new members read this thread from 1sth page, and learn the basis, they won't loss money!

I understood that if you know the basis, you don't allow yourself to jump into every trade!


Thanks late EELFRAND and every man that make this thread alive to help members!
  • #23,695
  • Aug 20, 2013 4:31am Aug 20, 2013 4:31am
Quoting emmanuel7788
{quote} Position Building: Building position is not averaging down to losing position. It should be in your trading plan and itt is pre-calculated with Risk and Position Sizing taken into consideration. When a trade is in positive with protected profits, we add on more positions with banked-in profits and these add on trades are risk free. Go back and read post #20,345 for an example. Download pdf [url=http://www.forexfactory.com/attachment.php?attachmentid=1209564&d=1370639002]"How...
I was being sarcastic about the THA method, I think it's crazy/dangerous and sooner or later will blow up accounts ... Especially accounts of the newbies He is a fool, but everybody follows him, that makes him a dangerous fool

What I usually do is this :

1. I make a first entry at EP1 for 0.5%
2. If price goes against me but all my information still confirms my initial position enter at EP2 for 0.5%
3. If price goes further against me I don't open a new one. Stop loss is there to take me out at 1% if needed. But if price goes in my favor I can add another 0.5% for an end total of 1.5%

I am 100% against averaging down believe me !
Do you think my way is averaging down and is dangerous ?

I will surelly re-read the info at the link you gave me Thank you !
Don’t ever let someone tell you that you can’t do something.
  • #23,696
  • Aug 20, 2013 4:34am Aug 20, 2013 4:34am
Quoting Ballistical
{quote} Nice Trade! Just wondered what pairs you're trading? I tend to stick to the 8 pairs set out by Big E/ Dean Malone, which didn't include AUDCAD... Are you having much luck with other pairs? (Clearly this was a successful trade, but I mean in the long run)
I trade most of the pairs I am comfortable with, that includes volatile pairing such as AUDCAD, GBPAUD, EURAUD.as long as all the trades fall within 1:1 R:R, I will take it. I dont trade gold/silver though.
  • #23,697
  • Aug 20, 2013 4:50am Aug 20, 2013 4:50am
took the uj h1 trade currently up 15. wish me luck
  • #23,698
  • Aug 20, 2013 4:55am Aug 20, 2013 4:55am
When I opened gbpusd long a member poined that it was not a good setup. Double top was mentioned. Now what are these patterns I need to look out for
Come tomorrow, I'll wake up new
  • #23,699
  • Aug 20, 2013 4:58am Aug 20, 2013 4:58am
do you guys have problems uploading files? I am trying to upload my chart but it says error: your file is too large. max:10M.

I just checked my file was just 40kb. how weird is that?
  • #23,700
  • Aug 20, 2013 4:59am Aug 20, 2013 4:59am
Quoting gsbharaj
When I opened gbpusd long a member poined that it was not a good setup. Double top was mentioned. Now what are these patterns I need to look out for
When did you enter and why?

I entered after the 1H LO fake and my aim was to see what it would do at yesterdays high... after seeing pa stall a little i decided to take the 25 pips.
Now I'll wait for the next set up.
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