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Trading Made Simple

  • #24,321
  • Aug 30, 2013 2:38am Aug 30, 2013 2:38am
Hi,

I try to implemnent the channelling technoque suggested by Emmanuel on GBPJPY. If my channel is correct, then after the bearish close below my trading timeframe MA and bearish TDI cross there is room for short.

I keep my eyes on this pair.

thrax
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  • #24,322
  • Aug 30, 2013 2:39am Aug 30, 2013 2:39am
First trade of the day.. +30
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  • #24,323
  • Aug 30, 2013 2:41am Aug 30, 2013 2:41am
Quoting mightymatt
Hi Everyone, First post and have been reading the most of the thread and am very interested in this method. I am a newbie however have been trading on an off for a year or two and mainly using EA's. These are currently working well and slowly building a nice base however its time to bring in the manual trading. I am in New Zealand so market times are quite different as we are GMT+12hrs here and +13 in our summer. Tokyo opens at 12 midday, 6PM Frankfurt and 7PM London Open all local time. London seems to be the best start by everyones comments and...
Hi Matt,

Welcome to TMS. Hang around and there will be many good people here who will share and learn along with you.

That is a good trade you got going. EJ was narrow range consolidation for two day and the price action for your trade is excellent. You are in the money.

I am thinking of moving to Te Anau to retire. I will look you up some day soon.

Kind regards,
EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #24,324
  • Aug 30, 2013 2:49am Aug 30, 2013 2:49am
Here is one for TMS M15 lovers....

I know you have been waiting patiently for 2 days .... did your PATIENCE lasted that long?

The power of price behaviour and the 10EMA

Sorry this chart is kind of small as I am outdoor using a notebook with small screen not my usual PC with HD 1920x1080 resolution.
Attached Image (click to enlarge)
Click to Enlarge Name: EJ M15 TMS lovers.png Size: 58 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #24,325
  • Aug 30, 2013 2:51am Aug 30, 2013 2:51am
Quoting munirpt
First trade of the day.. +30 {image}

Very nice first trade of today.... quick pips .

Now show me your second trade. ...hmmm sell GU?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #24,326
  • Aug 30, 2013 2:55am Aug 30, 2013 2:55am
Quoting thrax
Hi, I try to implemnent the channelling technoque suggested by Emmanuel on GBPJPY. If my channel is correct, then after the bearish close below my trading timeframe MA and bearish TDI cross there is room for short. I keep my eyes on this pair. thrax {image}

To have a nice channel, you need to use 3 major swing points in the price and each has to be confirmed with TDI cross.

152.60 is historical resistance being tested and holding...., so the down move looks pretty.

unfortunately it is Friday so no new 4H swing trades for me.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #24,327
  • Aug 30, 2013 3:05am Aug 30, 2013 3:05am
Quoting emmanuel7788
{quote} To have a nice channel, you need to use 3 major swing points in the price and each has to be confirmed with TDI cross. 152.60 is historical resistance being tested and holding...., so the down move looks pretty. unfortunately it is Friday so no new 4H swing trades for me.
I remember that you pointed out earlier that 3 major points are needed for channel. My channel will be only valid if the current candle will close causing a bearish TDI cross.

So you suggest not to enter on H4 on Friday.

Thank you!
thrax
  • #24,328
  • Aug 30, 2013 3:16am Aug 30, 2013 3:16am
Quoting thrax
{quote} I remember that you pointed out earlier that 3 major points are needed for channel. My channel will be only valid if the current candle will close causing a bearish TDI cross. So you suggest not to enter on H4 on Friday. Thank you! thrax
I do not open new 4H swing trades on Fridays simply because I do not want to be exposed to events that may happen over the weekend.

But with this H4 TDI cross, you can scalp some pips quite easily.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #24,329
  • Aug 30, 2013 3:40am Aug 30, 2013 3:40am
Quoting emmanuel7788
{quote} Very nice first trade of today.... quick pips . Now show me your second trade. ...hmmm sell GU?
Hi emmanuel

I didn't have any signal on GU that match my trading plan.
My second trade is GJ.... still open... lets see what happens....will post it once closed

Thanks for all the knowledge you have been sharing...

Munir
  • #24,330
  • Aug 30, 2013 3:41am Aug 30, 2013 3:41am
Quoting emmanuel7788
{quote} Hi Matt, Welcome to TMS. Hang around and there will be many good people here who will share and learn along with you. That is a good trade you got going. EJ was narrow range consolidation for two day and the price action for your trade is excellent. You are in the money. I am thinking of moving to Te Anau to retire. I will look you up some day soon. Kind regards, EMMANUEL
Hi Emmanuel, Yes I closed it out for 30pips profit as it started to retract. Im looking at trading single lots to start with on demo and then also on my main account. If I can be fairly consistent with 25-30pips per trade I will be quite happy to start with. Once I get the hang of the entries etc and it becomes easy then I will start to look at letting the profits run, adding to positions etc.

Just took a second trade, sell with UJ which I also have on my Live account with as a very small trade so lets see how that works out.

Ah yes Te Anau, beautiful spot down there. Who knows if I master this trading lark then ill join you. Couldn't complain with an amazing area like that, trading account making money and the southern alps for skiing in the winter and fishing on the lake in summer ............ bring it on

I'm up in Auckland.

Look forward to learning a lot more and being consistent with this method.

Thanks, Matt.
Attached Image
  • #24,331
  • Aug 30, 2013 4:18am Aug 30, 2013 4:18am
No Pain No Gain

Took this trade but turned out a disaster , I put some notes on the chart, again I think this was a good week overall , with 4 winners and today loss, am trying to understand how pa moves to initiate trade at the correct time, how pa makes a new high or low, then retest previous structure to confirm swing high or low, and then trade accordingly with cross of TDI

Still a lot of work to do, stopped out with - 27 pips
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I Have Learned to Take Some Losses to Make Profits
  • #24,332
  • Aug 30, 2013 4:38am Aug 30, 2013 4:38am
Quoting TheScorpS
No Pain No Gain Took this trade but turned out a disaster , I put some notes on the chart, again I think this was a good week overall , with 4 winners and today loss, am trying to understand how pa moves to initiate trade at the correct time, how pa makes a new high or low, then retest previous structure to confirm swing high or low, and then trade accordingly with cross of TDI Still a lot of work to do, stopped out with - 27 pips {image}

remember, we trade the price and not what the TDi or HA is telling us.

when the buyers lose interest, the buying slows down and eventually stops, then we look and see if there is selling interest, and wait for sellers to join in the market.

it is in the price.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #24,333
  • Aug 30, 2013 4:50am Aug 30, 2013 4:50am
Quoting mightymatt
{quote} Hi Emmanuel, Yes I closed it out for 30pips profit as it started to retract. Im looking at trading single lots to start with on demo and then also on my main account. If I can be fairly consistent with 25-30pips per trade I will be quite happy to start with... . {image}
It's interesting to see there are many Kiwi traders here. Many of them are really good traders as well. I was in Christchurch for a whole year at year 2004 and it was really a lovely place to live.
Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #24,334
  • Aug 30, 2013 4:52am Aug 30, 2013 4:52am
Quoting emmanuel7788
{quote} Very nice first trade of today.... quick pips . Now show me your second trade. ...hmmm sell GU?
Second trade closed for +22 pips. Price retested the low 3 times.... printed a pin bar on 15 TF... decided to exit with small profit

50 pips for the day... I call it a day. Actually im on vacation time, so going to enjoy the rest of the day!

Overall a good trading week. only one loser... lots of BE trades... and some winners.... hopefully next month will be better!

Green pips to you all!
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  • #24,335
  • Aug 30, 2013 5:09am Aug 30, 2013 5:09am
Quoting munirpt
{quote} Second trade closed for +22 pips. Price retested the low 3 times.... printed a pin bar on 15 TF... decided to exit with small profit 50 pips for the day... I call it a day. Actually im on vacation time, so going to enjoy the rest of the day! Overall a good trading week. only one loser... lots of BE trades... and some winners.... hopefully next month will be better! Green pips to you all! {image}

Good job man!


All the newbies can make this method to an excellent method by using the channels, Pay attention to lower lows and higher Highs and Minor & major Supp/Res !


Good luck
  • #24,336
  • Aug 30, 2013 5:35am Aug 30, 2013 5:35am
Everybody have a nice weekend. See U next month. Bye bye Summer, Welcome Autumn!
Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #24,337
  • Aug 30, 2013 5:55am Aug 30, 2013 5:55am
Quoting heispark
Everybody have a nice weekend. See U next month. Bye bye Summer, Welcome Autumn!
That's so depressing But have a nice weekend Heispark !
Don’t ever let someone tell you that you can’t do something.
  • #24,338
  • Aug 30, 2013 7:12am Aug 30, 2013 7:12am
Hi All, just thought I would introduce myself, I'm a relatively new trader, and have been trading TMS for a short while, going through the learning process, just like many others. I've been a lurker in the background on the TMS thread for somewhile, just trying to absorb all the information I can to improve my mindest and skills. I'd love to get involved in the thread and get some feedback on my trades from all you guys / gals, especially the experienced traders such as Emmannual7788 / Phx62, and others. You are great people, with great skill, patience and committement, which I admire immensly (guys I know you are modest men but please take my humble compliments).
As a start, can someone briefly run through how I post a chart in the thread?
Thanks
UK1
  • #24,339
  • Aug 30, 2013 7:19am Aug 30, 2013 7:19am
welcome to TMS Uk1,

to upload a chart you must:

click on "new reply";
save a chart on your desktop;
click on "upload from computer";
and finally "insert".

frank
  • #24,340
  • Aug 30, 2013 7:24am Aug 30, 2013 7:24am
sorry uk1,

you must click on "Reply to thread"

frank
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