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Trading Made Simple

  • #24,721
  • Sep 6, 2013 7:19am Sep 6, 2013 7:19am
Quoting emmanuel7788
{quote} hindsight is 20/20 vision. But when you trade 4H, you have plenty of time to think and to look for high probability setups when IB alerts pops up on your charts. Edit: For those doing own back-testing, you will find out how often those inside bars IBs show up on your charts and how the price action move with the IBs.
Hi,
Please share your template file.
Thank you!!
  • #24,722
  • Sep 6, 2013 8:55am Sep 6, 2013 8:55am
Quoting Huesa
{quote} Hi, Please share your template file. Thank you!!
Please see post#24,561.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #24,723
  • Sep 6, 2013 9:02am Sep 6, 2013 9:02am
Quoting TheScorpS
{quote} What are other ratios to consider other than the AB=CD formation, and as you say Emmanuel, stay with the time frame I'm trading

See attachments.

Channeling technique with PA and TDI work together with these ABCD swing waves. I focus on these using H4 and D1 TFs only.
Attached File(s)
File Type: pdf Chart pattern ABCD-Bearish.pdf   263 KB | 1,278 downloads
File Type: pdf Chart pattern ABCD-Bullish.pdf   260 KB | 1,470 downloads
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #24,724
  • Sep 6, 2013 9:10am Sep 6, 2013 9:10am
Quoting emmanuel7788
{quote} See attachments. Channeling technique with PA and TDI work together with these ABCD swing waves. I focus on these using H4 and D1 TFs only. {image} {image}
Thanks Emmanuel , actually I was searching for these 2 specific PFD while ago, and couldn't find them
I Have Learned to Take Some Losses to Make Profits
  • #24,725
  • Sep 6, 2013 9:14am Sep 6, 2013 9:14am
Quoting Kanderpro
{quote} Thank you for your response, Emmanuel. Perhaps my request wasn't worded very clearly. I'd be very grateful if you would share your thoughts on my observations re the validity, or otherwise, of the potential set-up where reversal pa occurs when the green line and the MBL are on different sides of the 50. Thanks, Kan
Hi Kan,

I am not really sure about this. Perhaps you can post some charts to explain these conditions.

Reversal usually occurs after a price consolidation or extreme price move with volatility see in the TDI VB.
We are trading the relative strength of the price volatility, therefore if you observe the price move in waves in relation to the TDI volatility band, that may show some distinctive TDI behaviour. I made some posts about this before.

regards,
EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #24,726
  • Sep 6, 2013 9:17am Sep 6, 2013 9:17am
Quoting TheScorpS
{quote} Thanks Emmanuel , actually I was searching for these 2 specific PFD while ago, and couldn't find them

You may want to research the work by Larry Pasavento on Fibonacci Ratios with Pattern Recognition.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #24,727
  • Sep 6, 2013 9:22am Sep 6, 2013 9:22am
Quoting emmanuel7788
{quote} You may want to research the work by Larry Pasavento on Fibonacci Ratios with Pattern Recognition.
here is the link lads to download pdf

http://search.4shared.com/q/CCAD/1/F...%20Recognition
  • #24,728
  • Sep 6, 2013 9:38am Sep 6, 2013 9:38am
Hey everyone, i took a trade last night before i went to bed. Pair was Gbp/Jpy. Price was showing indecision by the small bodied candles, and began to move down. Zooming out to the monthly, weekly, and daily TF there was a significant level of resistance it has reached. Back to the 4h TF the TDI has already crossed, but i waited for the candle to change color and to have a proper 2-4 angle, and once the first red candle closed it did just that. Price was also in the over bought region according to the TDI. I entered on the second red candle, and i set my SL at the last swing high, and set my target at 154.789 (red line i put on the chart) because it was a significant level of resistance in the past and probably would be a support level now. +88 pips while i slept. Let me know if you would have done anything differently, or please let me know if there was anything i should have took notice to. I've been keeping my trading to the roots of this thread and trading what Big E outlined in his posts.

http://imageshack.com/a/img5/4356/ghow.pngUploaded with ImageShack.com
  • #24,729
  • Sep 6, 2013 10:09am Sep 6, 2013 10:09am
Quoting Agk007
Hey everyone, i took a trade last night before i went to bed. Pair was Gbp/Jpy. Price was showing indecision by the small bodied candles, and began to move down. Zooming out to the monthly, weekly, and daily TF there was a significant level of resistance it has reached. Back to the 4h TF the TDI has already crossed, but i waited for the candle to change color and to have a proper 2-4 angle, and once the first red candle closed it did just that. Price was also in the over bought region according to the TDI. I entered on the second red candle, and...
side effect of the NFP I guess.
  • #24,730
  • Sep 6, 2013 10:30am Sep 6, 2013 10:30am
Quoting Dabbeljoe
{quote} side effect of the NFP I guess.
Was that still a good trade? i mean did you see anything that i should have done/changed?
  • #24,731
  • Sep 6, 2013 10:37am Sep 6, 2013 10:37am
Quoting Agk007
{quote} Was that still a good trade? i mean did you see anything that i should have done/changed?
i took trade on same pair but entered in 1h time frame last night. Im new here also but I think it was a good trade. we both entered after cross was confirmed and both trades worked out great so kudos!
He who knows when he can fight and when he cannot, will be victorious.
  • #24,732
  • Sep 6, 2013 10:51am Sep 6, 2013 10:51am
Quoting Agk007
{quote} Was that still a good trade? i mean did you see anything that i should have done/changed?
Yes, off course! It was a great trade!
Although I didn't see the significant level of resistance on the M, W and D, but that's probably my problem. It was a great TMS trade.
  • #24,733
  • Sep 6, 2013 11:00am Sep 6, 2013 11:00am
Quoting Dabbeljoe
{quote} Yes, off course! It was a great trade! Although I didn't see the significant level of resistance on the M, W and D, but that's probably my problem. It was a great TMS trade.
Here is what i was talking about in the past shown by the red line. Price reached that level and reversed and i noticed right before my trade last night it had reached that level again and stalled.

http://imageshack.com/a/img14/1501/re9q.pngUploaded with ImageShack.com
  • #24,734
  • Sep 6, 2013 11:06am Sep 6, 2013 11:06am
Quoting TheDDReport
{quote} i took trade on same pair but entered in 1h time frame last night. Im new here also but I think it was a good trade. we both entered after cross was confirmed and both trades worked out great so kudos!
Kudos to you too! Glad to see others make the same trade. I still cant believe how easy this system is compared to all the others i have tried, and this one is the most profitable for me too.
  • #24,735
  • Sep 6, 2013 1:37pm Sep 6, 2013 1:37pm
Hello there!

I am not new to trading but am new to this thread. I have traded for 7 years but have never been able to do more than break even. Most of the time I have lost, sometimes very big. Some would say I am chasing rainbows to continue but still think I can make this work. I have read this thread with great interest although began in the beginning with Eelfranz suggested document downloads. The .ex4 and .mg4 on post #25 and #156 and, #713 I have not been able to open. Not sure of the file types. Can anyone help? Also can anyone direct me to specific posts that might better guide me about how to set up my trading platform? I currently use thinkorswim for my charting. Since forex has so many studies, it is difficult to find the Heiken Ashi within the program. I also need help understanding stochastics, or just how to set it up on my platform.

I think MT4 is necessary, right?

Thanks for help! I'm looking for the wheelbarrow.
  • #24,736
  • Sep 6, 2013 1:52pm Sep 6, 2013 1:52pm
Quoting Kanderpro
{quote} Hello Emmanuel7788 and Phx62, I'd be grateful for your comments (and anyone else's). I currently limit my trading to the following scenarios on H1: shorts when the green is below the MBL and the 50, longs when green is above the MBL and the 50. I haven't written down my plan for these scenarios yet, but I suspect they are successful when the same thing is happening on 15m. I also trade this scenario (which unbeknownst to me, may be common knowledge): I believe that visual backtesting (i.e. scrolling back through the charts) shows that H1...
Hi Kan

I was interested in your comments and often (but not always) use the "long above 50 and short below 50" rule.

Earlier this week I was thinking about the importance of the 50 level and realised that there actually are good reasons to respect it:

TDI is based on the RSI indicator. It is a 2 (green) and 7 (red) period average of the 13 period RSI. So what applies to the RSI applies to TDI.

The RSI calcluation boils down to : average up / (average up + average down) so when there have been lots of up movements the RSI head towards 1 (which is displayed as 100) and when there have been lots of downs it heads towards 0.

After an established uptrend the RSI gets up to around 70. If the price curve then flattens out the average ups and average downs will be about equal giving an RSI of 50.

In other words the RSI has dropped from 70 to 50 and all the price has down is flatten out: any short trade triggered by RSI in this range should be treated with caution.

If the price then continues down, the average downs outweigh the average ups so RSI falls from 50 to around 30. In this range RSI shorts are more reliable.

The same applies in reverse after established downtrends where you should be careful taking longs between 30 and 50 and more confident between 50 and 70.

In other words the RSI is best traded as it moves away from the 50 line and it for this reason that many traders will use the 50 line as one of their trade criteria.

Disclaimer: There will be plenty of times when this reasoning fails. Price direction can change quickly following market open or news so there will be a reduced consolidation period. During these events the rule about only trading RSI away from 50 can be relaxed.

Back to your post about MBL and the green line being on opposite sides of 50 in a reversal, this could well be true especially after a period of consolidation as MBL is a much slower mover.
  • #24,737
  • Sep 6, 2013 2:21pm Sep 6, 2013 2:21pm
Quoting Agk007
{quote} Here is what i was talking about in the past shown by the red line. Price reached that level and reversed and i noticed right before my trade last night it had reached that level again and stalled. {image}Uploaded with ImageShack.com
I see what you mean, I was looking way back in the past, but this one is more recent.
Nice!
  • #24,738
  • Sep 6, 2013 6:53pm Sep 6, 2013 6:53pm
Quoting Agk007
Hey everyone, i took a trade last night before i went to bed. Pair was Gbp/Jpy. Price was showing indecision by the small bodied candles, and began to move down. Zooming out to the monthly, weekly, and daily TF there was a significant level of resistance it has reached. Back to the 4h TF the TDI has already crossed, but i waited for the candle to change color and to have a proper 2-4 angle, and once the first red candle closed it did just that. Price was also in the over bought region according to the TDI. I entered on the second red candle, and...

hahaha duude thats so funny we have same entry on gbpj. well done we

Attached Image (click to enlarge)
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  • #24,739
  • Sep 6, 2013 9:54pm Sep 6, 2013 9:54pm
Hi everyone,

It's been a while I've been following this blog... I decided to persuade a couple of mechanical systems for about 18-24 months to find out mechanical systems aren't the right tool for this market condition :-(.
So I am back to a drawing board.
I remember looking at this system and thinking to give it a go, but didn't because I had trouble to read those Heiken Ashi candles.

I have several question to ask you and I'd appreciate if you could give me your honest answers :-).
1. I'm wondering which setup you guys trade and how much has the system changed since the first Eelfranz post? If yes, can someone post the new rules please?

2. How did you guys do within last 8 months? Was the system still profitable? (I got hammered and pretty much lost 80% of my account using my two mechanical systems).

3. Could you recommend another PA based long term profitable system with simple rules for entries and exits? I've looked at Craig Harris'es Market Flow which I like for it's simplicity, but my modification for 4hr chart stopped working a long time ago. Some Bill Poulos systems ..etc... etc...

Please feel free to PM me if you want to stay anonymous or even better ... post it here.
Many thanks in advance!

Many happy pips to all of you

Austros
  • #24,740
  • Sep 6, 2013 10:36pm Sep 6, 2013 10:36pm
Quoting kwonkicker
{quote} hahaha duude thats so funny we have same entry on gbpj. well done we {image}
haha thats awesome! Good job!
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