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Trading Made Simple for Day Charts

  • #1,741
  • Sep 11, 2013 4:48pm Sep 11, 2013 4:48pm
For noobs like myself:
1- Trust the system if it makes sense and try to follow it. Don't break your own rules!
2- Give the price room to breathe. All the trades I lost wasn't because of the system, but because I closed it immediately when the price started ranging away from it's predicted direction.. But the next day I found it booming in my favor after I closed the trade. Or because I put a small SL range!
3- If you're using TMS hist indicator, I found that when Daily trend is up and gave you a signal, but W & MN are down, it might be a lazy or short movement like what is happening now in EUR/USD [The only exception is when the PA is bouncing off of a supply and demand zones or S/R levels [including 200ema].
.....

I took this trade 2 days ago and it wasn't moving, but now I'm in profit +56 pips. my tp target is just beneath the coming supply zone. Moved my SL to BE.
Attached Image (click to enlarge)
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  • #1,742
  • Sep 16, 2013 4:57pm Sep 16, 2013 4:57pm
Quoting Mourad
For noobs like myself: 1- Trust the system if it makes sense and try to follow it. Don't break your own rules! 2- Give the price room to breathe. All the trades I lost wasn't because of the system, but because I closed it immediately when the price started ranging away from it's predicted direction.. But the next day I found it booming in my favor after I closed the trade. Or because I put a small SL range! 3- If you're using TMS hist indicator, I found that when Daily trend is up and gave you a signal, but W & MN are down, it might be a lazy or...

How's this one doing Mourad? You still in? GBPUSD long has taken half, and moved stop loss. Same for EURAUD short; looking for further direction. NZDUSD weekly finally making decent move. Pity about the negative swap
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: eurauddaily.png Size: 110 KB
Click to Enlarge Name: nzdusdweekly.png Size: 139 KB
  • #1,743
  • Sep 18, 2013 3:59pm Sep 18, 2013 3:59pm
Couple more trades and a pending

Long AUDUSD except I placed the entry a bit too far above the previous high, was looking to clear the 100 ema. Additional reasons for the trade were the breaking of the two resistance lines shown. Weekly chart has a good long trend too.

Similar situation on the NZDJPY, except on a weekly chart

Runing out of time to post more

Pending re-entry on EURUSD, entry on AUDJPY if previous high broken, half of current NZDUSD trade closed
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: nzdjpyweekly.png Size: 121 KB
  • #1,744
  • Sep 18, 2013 5:11pm Sep 18, 2013 5:11pm
hey buttonjock

thanks for keeping us posted, i am also in those trades as well as an older NZDUSD long from the 16th (part closed) as well as EURCAD long i just placed

blam


a
Quoting Buttonjock
Couple more trades and a pending Long AUDUSD except I placed the entry a bit too far above the previous high, was looking to clear the 100 ema. Additional reasons for the trade were the breaking of the two resistance lines shown. Weekly chart has a good long trend too. Similar situation on the NZDJPY, except on a weekly chart Runing out of time to post more Pending re-entry on EURUSD, entry on AUDJPY if previous high broken, half of current NZDUSD trade closed {image} {image}
  • #1,745
  • Sep 19, 2013 4:16pm Sep 19, 2013 4:16pm
Quoting blamshakk
hey buttonjock thanks for keeping us posted, i am also in those trades as well as an older NZDUSD long from the 16th (part closed) as well as EURCAD long i just placed blam a {quote}

Hi Blam

That's a good looking trade on the EURCAD. The MA's are also acting as support on both the daily and weekly charts.

One to watch I think is the GBPNZD. It's just broken a support line, so a bit of a pull back is possible. After that a potential move down of over 1000 pips is possible.
Attached Image (click to enlarge)
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  • #1,746
  • Edited Sep 20, 2013 11:17am Sep 19, 2013 8:55pm | Edited Sep 20, 2013 11:17am
nice analysis..i did short a couple days back for GBPNZD on TDI bounce but trade exited for a small profit like you said a possible pullback

yes that EURCAD trade is working nicely so far

Quoting Buttonjock
{quote} Hi Blam That's a good looking trade on the EURCAD. The MA's are also acting as support on both the daily and weekly charts. One to watch I think is the GBPNZD. It's just broken a support line, so a bit of a pull back is possible. After that a potential move down of over 1000 pips is possible. {image}
  • #1,747
  • Sep 20, 2013 12:38am Sep 20, 2013 12:38am
Quoting Buttonjock
{quote} Hi Blam That's a good looking trade on the EURCAD. The MA's are also acting as support on both the daily and weekly charts. One to watch I think is the GBPNZD. It's just broken a support line, so a bit of a pull back is possible. After that a potential move down of over 1000 pips is possible. {image}
Nice work folks - I am also in the EUR/CAD long

Several pairs are now starting to lose PA momentum, so watching for reversal signals - especially the 3 amigos and the EA / GA / EN / GN group
Attached Image (click to enlarge)
Click to Enlarge Name: eurcad 9-19-2013.gif Size: 112 KB
"To live with Passion, it takes Courage and Grace to survive"
  • #1,748
  • Sep 20, 2013 4:44pm Sep 20, 2013 4:44pm
Here's one of the pairs looking to reverse - GU

Positives

PA is now moving away from the Daily Demand Zone which is also a Weekly S/R level.
APB has given a colour change, albeit rather weak, so any PA heading south would be an entry opportunity.
TDI cross has confirmed on Friday - needs to move out of the Overbought region
H4 rolling over
H4 TDI Mid Zone is moving lower

Negatives
Day PA has not broken the 7EMA
2/7 Arrow not yet in place on Day
H4 PA has not broken the 21EMA
Attached Image (click to enlarge)
Click to Enlarge Name: GU 9-20-2013.gif Size: 99 KB
"To live with Passion, it takes Courage and Grace to survive"
  • #1,749
  • Sep 20, 2013 5:54pm Sep 20, 2013 5:54pm
yes im going to see what this pair does on sunday night, my thoughts are very similar


currently in an AUJPY long which isnt working out

EurGBP long and a GBPCHF short , both in the black currently

Quoting Britpip7
Here's one of the pairs looking to reverse - GU Positives PA is now moving away from the Daily Demand Zone which is also a Weekly S/R level. APB has given a colour change, albeit rather weak, so any PA heading south would be an entry opportunity. TDI cross has confirmed on Friday - needs to move out of the Overbought region H4 rolling over H4 TDI Mid Zone is moving lower Negatives Day PA has not broken the 7EMA 2/7 Arrow not yet in place on Day H4 PA has not broken the 21EMA {image}
  • #1,750
  • Sep 22, 2013 4:02pm Sep 22, 2013 4:02pm
Quoting Britpip7
Here's one of the pairs looking to reverse - GU Positives PA is now moving away from the Daily Demand Zone which is also a Weekly S/R level. APB has given a colour change, albeit rather weak, so any PA heading south would be an entry opportunity. TDI cross has confirmed on Friday - needs to move out of the Overbought region H4 rolling over H4 TDI Mid Zone is moving lower Negatives Day PA has not broken the 7EMA 2/7 Arrow not yet in place on Day H4 PA has not broken the 21EMA {image}

Lol, hope it keeps going long and the EURAUD short :o)
  • #1,751
  • Sep 22, 2013 4:48pm Sep 22, 2013 4:48pm
Quoting Buttonjock
{quote} Lol, hope it keeps going long and the EURAUD short :o)
would that be one of those hope trades then?

Currently I am in the following:

EA - long +30
Aud/Chf - short +18
Eur/Cad - long +200
UJ - long - BE
"To live with Passion, it takes Courage and Grace to survive"
  • #1,752
  • Sep 22, 2013 5:21pm Sep 22, 2013 5:21pm
my eurcad long was stopped out for profit by my MPTM jumping stop settings (30 pips after breakeven)... subsequently missed a lot of that move...the whole trick with this system is to let winners run but to also bear in mind lock in profits at the same time

in light of that i have adjusted my jumping stop to 35 pips




Quoting Britpip7
{quote} would that be one of those hope trades then? Currently I am in the following: EA - long +30 Aud/Chf - short +18 Eur/Cad - long +200 UJ - long - BE
  • #1,753
  • Sep 22, 2013 8:42pm Sep 22, 2013 8:42pm
Quoting blamshakk
my eurcad long was stopped out for profit by my MPTM jumping stop settings (30 pips after breakeven)... subsequently missed a lot of that move...the whole trick with this system is to let winners run but to also bear in mind lock in profits at the same time in light of that i have adjusted my jumping stop to 35 pips {quote}

This is where opening two trades per entry will help.

TP1 = 1 X ATR 7

TP2 - leave to run - move to BE after TP1 is hit and then manage / add-on as appropriate.

Currently EUR/CAD day PA is approaching a Supply Zone, so may not be a great example, however, following the two trades theory, with my current trades - TP1 would have closed out for 130pips, leaving TP2 to run which is currently at 200pips with an add-on.

For SL settings once a trend run has been established and the Day candles have stayed above the EMA7 for a few days, I will often use the H4 Fractals (Fractal Lows for the up trend), or previous Day Low to track the trend.

Once the H4 moves above the 68 level, I will normally wait for a pause / mini retrace before a new add-on, of for PA to break a Fractal high.

If the H4 PA starts to close below the H4 EMA 7, this is a heads up that consolidation / pull back is coming, so manage accordingly.
Attached Image (click to enlarge)
Click to Enlarge Name: eur cad 9-22-2013.gif Size: 91 KB
"To live with Passion, it takes Courage and Grace to survive"
  • #1,754
  • Sep 23, 2013 1:45am Sep 23, 2013 1:45am
Quoting Britpip7
Here's one of the pairs looking to reverse - GU Positives PA is now moving away from the Daily Demand Zone which is also a Weekly S/R level. APB has given a colour change, albeit rather weak, so any PA heading south would be an entry opportunity. TDI cross has confirmed on Friday - needs to move out of the Overbought region H4 rolling over H4 TDI Mid Zone is moving lower Negatives Day PA has not broken the 7EMA 2/7 Arrow not yet in place on Day H4 PA has not broken the 21EMA {image}

The over size D candle on 18th is the reason we haven't crossed the tight ma (I use 8lwma v your 7ema) its still trying to catch up. I'm still retaining up bias on GU for now. Simple reason most turns take 3-7 days to play out and I don't see that yet.
  • #1,755
  • Sep 23, 2013 1:46am Sep 23, 2013 1:46am
Quoting Britpip7
{quote} would that be one of those hope trades then? Currently I am in the following: EA - long +30 Aud/Chf - short +18 Eur/Cad - long +200 UJ - long - BE
Also long EA from 1.4334.
  • #1,756
  • Sep 23, 2013 4:31am Sep 23, 2013 4:31am
hey

yes i hear you re: the two trade approach. i am trying to emulate my version of this with mptm part close settings. so my default lot size right now is 0.2 lots, i have part close set to 0.1 lot on breakeven, with the remaining 0.1 lot running with a 30 (now 35) pip jumping stop. seems to work ok i guess, but right now i need to be more selective with my entries. what tends to happen is i get a slew of good trades followed by the 'euphoria' phenomenon, and i start getting sloppy, lose money, (ps i am on demo) - then get over cautious.

currentyl reasding 'trading in the zone' which is making a LOT of sense, and going back over this thread and taking notes of pertinent posts on a word document.

i think this system, and i have made it work on demo, is such an ideal solution for those of us with day jobs, i am determined to take the right steps to make it work. im just being inconsistent in my method right now (eg interminttent logging of trades when i should log every one, euphria/over cautiosness) etc

blam

Quoting Britpip7
{quote} This is where opening two trades per entry will help. TP1 = 1 X ATR 7 TP2 - leave to run - move to BE after TP1 is hit and then manage / add-on as appropriate. Currently EUR/CAD day PA is approaching a Supply Zone, so may not be a great example, however, following the two trades theory, with my current trades - TP1 would have closed out for 130pips, leaving TP2 to run which is currently at 200pips with an add-on. For SL settings once a trend run has been established and the Day candles have stayed above the EMA7 for a few days, I will often...
  • #1,757
  • Sep 23, 2013 3:49pm Sep 23, 2013 3:49pm
Quoting Britpip7
{quote} would that be one of those hope trades then? Currently I am in the following: EA - long +30 Aud/Chf - short +18 Eur/Cad - long +200 UJ - long - BE

Only from the view that they continue the profit they are already in. . Closed my EURAUD shorts although I suspect we will return there.

Interesting that you're short the AUDCHF. Wouldn't the new high compared to August be a concern?
  • #1,758
  • Sep 23, 2013 10:57pm Sep 23, 2013 10:57pm
Quoting Vantage
{quote} The over size D candle on 18th is the reason we haven't crossed the tight ma (I use 8lwma v your 7ema) its still trying to catch up. I'm still retaining up bias on GU for now. Simple reason most turns take 3-7 days to play out and I don't see that yet.
Patience is the key = this could still bump off of the 7EMA or range before reversing
"To live with Passion, it takes Courage and Grace to survive"
  • #1,759
  • Sep 23, 2013 10:58pm Sep 23, 2013 10:58pm
Quoting Buttonjock
{quote} Only from the view that they continue the profit they are already in. . Closed my EURAUD shorts although I suspect we will return there. Interesting that you're short the AUDCHF. Wouldn't the new high compared to August be a concern?
aud/chf was an older trade - closed for +16
"To live with Passion, it takes Courage and Grace to survive"
  • #1,760
  • Sep 24, 2013 3:02pm Sep 24, 2013 3:02pm
Hi all,

I am trying the get an idea of this system. Also did some trades but was not very successfull.
I have a question: Is it better to go long if the cross of the tdi is above the 50 line (with the green line heading upwards) or is it better to go long if the tdi cross is below the 50 line (with the green line heading upwards)?

Myrmica
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