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Trading Made Simple

  • #24,861
  • Sep 10, 2013 2:35am Sep 10, 2013 2:35am
Quoting emmanuel7788
{quote} Here is what I see as wave (e) completion and confirmation: PATIENCE ... {image} Be warned: 45% of such 5-waves trading patterns do fail.

nice trade emanuel
  • #24,862
  • Sep 10, 2013 2:40am Sep 10, 2013 2:40am
Quoting Bangokar
{quote} i usualy looking what the market did last week a weeks before. is good to watch pivots as well. if the maket hit r3 on any market i wont trade this maret next week for example. if market for example did not hit weekly resistance and suport usualy will hit . taking profits on weekly pivots or lever nearly them is good idea.

It will be good to compare the recent week traded range with the longer term traded range like the past 52-weeks average.
The reason for this is when the previous week is narrower range , then the current weekly pivot S and R will be much closer hence you may not maximise profit when there is increase in market interest.
Note the weekly pivot S&R levels are calculated using previous week' high+low+close prices.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #24,863
  • Sep 10, 2013 2:51am Sep 10, 2013 2:51am
Quoting emmanuel7788
{quote} It will be good to compare the recent week traded range with the longer term traded range like the past 52-weeks average. The reason for this is when the previous week is narrower range , then the current weekly pivot S and R will be much closer hence you may not maximise profit when there is increase in market interest. Note the weekly pivot S&R levels are calculated using previous week' high+low+close prices.

it is risky take trade if pivot is too far from the r1 or s1. thats good idea.i will look into it.im trading only with direction of weekly pivot. what about you?
  • #24,864
  • Sep 10, 2013 2:52am Sep 10, 2013 2:52am
Quoting emmanuel7788
EU week 36 - 6 Sep With previous week' strong bear candle and yesterday' s strong bear candle , would you be buyer or seller today? if you are seller on H4, it is Friday and NFP can be to your advantage. But I will not open a new 4H swing trade on Fridays as I do not want to hold open position exposed. There is the G20 summit on going. Some price levels where I will look for PA to add positions. 1.3150 1.3225 The long term sell is still intact ~ 450pips. Trade Well.
The reality of US NFP and G20 summit finally absorbed in the market sentiments.
Now we shall see the true strength or better to say the weakness of Euro vs the USD. Which is weaker should be the comparison.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #24,865
  • Sep 10, 2013 3:04am Sep 10, 2013 3:04am
Quoting Bangokar
{quote} it is risky take trade if pivot is too far from the r1 or s1. thats good idea.i will look into it.im trading only with direction of weekly pivot. what about you?

Yes, same I use the WPv as the direction pivot that why it call pivot point. Also look at the Week Open.
Buy when PA is above WPv,
Sell when PA is below WPv,

50% it will good trades,
25% it will early Buy when PA is below WPv or vice versa.
25% do nothing or pay market for lessons.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #24,866
  • Sep 10, 2013 3:12am Sep 10, 2013 3:12am
Quoting emmanuel7788
EURNZD Week 37 4H trade: {image} Trading in a Sideways Wide Range Market Type
Position Building:

Attached Image (click to enlarge)
Click to Enlarge Name: EURNZD week 37 H4 trade 10-9-2013 2-38-33 AM.png Size: 18 KB


Initial trade entry above

Attached Image (click to enlarge)
Click to Enlarge Name: EURNZD week 37 H4 trade 2pos 10-9-2013 4-07-44 PM.png Size: 18 KB


Now added 2nd pos
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #24,867
  • Sep 10, 2013 3:22am Sep 10, 2013 3:22am
Quoting emmanuel7788
{quote} Position Building: {image} Initial trade entry above {image} Now added 2nd pos

have to learn this , i never try add more positions in winning trade .
  • #24,868
  • Sep 10, 2013 3:33am Sep 10, 2013 3:33am
Quoting Bangokar
{quote} have to learn this , i never try add more positions in winning trade .
How to Build Position?

I posted this before post#20,345

The idea is mentioned in a book written by Silvani Agustin "Beat the Forex Dealer".

Attached Image


The relevant pages are attached in post#20,345 or click here to download.

Once you understand the concept, you work on the method using both combination in money and risk management.

We can scale-in and scale-out as we follow the market rhythm. Forex trading is a money game after all.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #24,869
  • Sep 10, 2013 3:39am Sep 10, 2013 3:39am
Quoting emmanuel7788
{quote} How to Build Position? I posted this before post#20,345 The idea is mentioned in a book written by Silvani Agustin "Beat the Forex Dealer". {image} The relevant pages are attached in post#20,345 or click here to download. Once you understand the concept, you work on the method using both combination in money and risk management. We can scale-in and scale-out as we follow the...
thanks mate. i will look into it
  • #24,870
  • Sep 10, 2013 4:14am Sep 10, 2013 4:14am
Quoting emmanuel7788
{quote} Position Building: {image} Initial trade entry above {image} Now added 2nd pos
Hi Emmanuel

Would the pinbar at 5am (gmt+0) have been a good entry for your 2nd position?

Axiom
  • #24,871
  • Sep 10, 2013 5:32am Sep 10, 2013 5:32am
I hope you guys are wrong on EUR/NZD lol. I went short 1H G/A H1 and it looks correlated with E/N. Entry at 1.69586 below the inside bar with TP at previous weeks 127 fib @ 1.6838.
  • #24,872
  • Edited 6:03am Sep 10, 2013 5:44am | Edited 6:03am
Quoting emmanuel7788
{quote} How to Build Position? I posted this before post#20,345 The idea is mentioned in a book written by Silvani Agustin "Beat the Forex Dealer". {image} The relevant pages are attached in post#20,345 or click here to download. Once you understand the concept, you work on the method using both combination in money and risk management. We can scale-in and scale-out as we follow the...
Wow, this was my first forex book i bought back in year 2009. I had this small book delivered overseas from Amazon. Since Emmanuel mentioned this book here, it proved i indeed chose a good one, although i didn't enjoy it very much. :-)
Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #24,873
  • Sep 10, 2013 6:02am Sep 10, 2013 6:02am
In hindsight, UJ was easier. Clean and neat..... I took small profit at EU short.
Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #24,874
  • Sep 10, 2013 6:23am Sep 10, 2013 6:23am
Quoting azFin
{quote} Ideally what you want is a VPS with MT4 running on it that you then use your Home PC, Tablet or Work PC to connect to by windows remote desktop protocol. Until you have the VPS, just set up remote desktop on your windows PC. (google it, very simple) Jump app for android is much easier to use than TeamViewer which I used for a long time. Jump basically makes it as if your android tablet is running windows with everything working perfectly as a touchscreen. TeamViewer is more as if you are dragging the windows mouse around on your touchscreen...

I will have to check that out. i haven't heard of Jump, thanks!
  • #24,875
  • Sep 10, 2013 6:23am Sep 10, 2013 6:23am
Quoting Axiom
{quote} Hi Emmanuel Would the pinbar at 5am (gmt+0) have been a good entry for your 2nd position? Axiom
Yes, that would be a valid TMS H1 entry too. That is also a M15 PAC scalp entry.

But once I have the initial Entry made, the subsequent build position entries do not need to be TMS setup in lower TF. I can use recent support and resistance levels to look for entries.

EURNZD has a historical swing level 1.6400, price can move lower as the higher TF W1 and D1 will draw in sellers. So we may see a longer duration of consolidation on H4 before the next big move.

The H4 TDI MBL is at 32-level and the VB is narrowing now so there is potential for the MBL to move back to the 50-level, this will depends on the price above.

Attached Image (click to enlarge)
Click to Enlarge Name: EURNZD D1 view 10 Sep.png Size: 36 KB


Let market decide as usual.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #24,876
  • Sep 10, 2013 6:32am Sep 10, 2013 6:32am
Quoting Sicarius
I hope you guys are wrong on EUR/NZD lol. I went short 1H G/A H1 and it looks correlated with E/N. Entry at 1.69586 below the inside bar with TP at previous weeks 127 fib @ 1.6838.

I see that you are correct and you need to manage and take profit soon since you are trading H1.

When I am wrong, I am always grateful to the one who invented trading with Stop Loss.

Attached Image (click to enlarge)
Click to Enlarge Name: GA week 37 10 Sep pre-NYO.png Size: 31 KB


Good Trading!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #24,877
  • Edited 7:24am Sep 10, 2013 6:52am | Edited 7:24am
Look at these two pics ( USD/CHF )

In H4 every thing is ready for a nice setup!


Do u setup a position according to the Daily Chart?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 1.JPG Size: 68 KB
Click to Enlarge Name: 2.JPG Size: 69 KB
  • #24,878
  • Sep 10, 2013 6:56am Sep 10, 2013 6:56am
Quoting farhad10
Look at these two pics ( USD/CHF ) In H4 every thing is ready for nice setup! Do u setup a position according to Daily Chart? {image} {image}
I already bought it, +20 pips now. I just monitor it carefully because of the HTF.
  • #24,879
  • Sep 10, 2013 8:59am Sep 10, 2013 8:59am
Quoting farhad10
Look at these two pics ( USD/CHF ) In H4 every thing is ready for a nice setup! Do u setup a position according to the Daily Chart? {image} {image}

what do you mean by " ...setup a position according to the Daily Chart?"
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #24,880
  • Sep 10, 2013 10:27am Sep 10, 2013 10:27am
Quoting farhad10
Look at these two pics ( USD/CHF ) In H4 every thing is ready for a nice setup! Do u setup a position according to the Daily Chart? {image} {image}

I have just entered trade on the 4 Hr chart. Was waiting for second candle to close before entering(even though it was for sure closing blue lol x.x)

Attached Image (click to enlarge)
Click to Enlarge Name: Screen shot 2013-09-10 at 10.25.39 AM.png Size: 58 KB


Lets see what happens
He who knows when he can fight and when he cannot, will be victorious.
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