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Trading Made Simple

  • #25,441
  • Sep 24, 2013 5:04am Sep 24, 2013 5:04am
The system works very well. Today I made 2% of the deposit. Yesterday, too. That's enough.
The main thing is NOT to be GREEDY and to be able to WAIT.
Now I'm going to have lunch.
Greed and fear kills traders
  • #25,442
  • Sep 24, 2013 5:09am Sep 24, 2013 5:09am
just entered long on AJ. expecting the price to go up from here. on h4 the prive is at the 50ema, have been a strong S&R in the past.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 52 KB
Come tomorrow, I'll wake up new
  • #25,443
  • Sep 24, 2013 5:14am Sep 24, 2013 5:14am
Easier day with textbook style PA. Hope you grabbed some pips...
Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #25,444
  • Sep 24, 2013 5:35am Sep 24, 2013 5:35am
Quoting gsbharaj
just entered long on AJ. expecting the price to go up from here. on h4 the prive is at the 50ema, have been a strong S&R in the past. {image}
This chart isn't meant to bias you, it is just to give you a different perspective... Plain eyeball, too, since I don't trade AJ nor do I take LT setups.

This is what I see, though. The daily trendline (lime green) was broken and pair is traded below it... In the meantime there's an H1 trendline (dotted goldenrod trendline) which has held... The thick horizontal line (golden line) is a daily support which was broken on H1 and H4. The vertical dotted gray line is where the daily TDI crossed to the downside.

My bias is to the downside, which once again does not mean I am right. This isn't me telling you you are wrong. May you close your trade in the green, good luck
Attached Image (click to enlarge)
Click to Enlarge Name: AJ.png Size: 49 KB
  • #25,445
  • Sep 24, 2013 6:01am Sep 24, 2013 6:01am
Quoting gsbharaj
just entered long on AJ. expecting the price to go up from here. on h4 the prive is at the 50ema, have been a strong S&R in the past. {image}
If you continue to trade this way, you won't make it to be a consistent winning trader.

We trade exactly what we see on our charts not what we expect. Price reacts at certain price levels especially when there is CONFLUENCE of S&R s and also at RN 00,25,50,75 levels.

If you think 50EMA is strong S&R on H4, what about 10EMA on D? Price will bounce off this 10EMA 92.80/92.75 on D and you can say goodbye to your AJ H1 Buy.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #25,446
  • Sep 24, 2013 6:03am Sep 24, 2013 6:03am
Quoting WDays
{quote} A ~17 hour trade well worth the wait Good job! The skype group took a GU short on the break of a MC approximately at news time... It was a good morning session...
hi I am in this forum what The skype group you talking about?
  • #25,447
  • Sep 24, 2013 6:05am Sep 24, 2013 6:05am
Quoting alasdeaguila
{quote} hi I am in this forum what The skype group you talking about?
Quoting Arete
Skype Chat Room After a pretty good response in regards to the TinyChat Chat room, its been brought to my attention that there is a pretty large demand to use a Skype chat room. I have Downloaded Skype, if you wish to involved in group chats from 0700 GMT (Frankfurt Open) on wards throughout the day then Add me on Skype as Joe Phippard and hopefully we can all become the traders we want to be. Skype Name: Joe Phippard Thank you Joe

  • #25,448
  • Sep 24, 2013 6:06am Sep 24, 2013 6:06am
Quoting gsbharaj
just entered long on AJ. expecting the price to go up from here. on h4 the prive is at the 50ema, have been a strong S&R in the past. {image}
You would do better to actually LISTEN to traders such as Emmanuel and PHX62 (who by the way gave you some very good advice just a few posts up) and you seem to have ignored: http://www.forexfactory.com/showthre...54#post6982654Its true you got 45 pips on that EJ trade phx was referring to, and I could say you were lucky to get away with it, but if you had taken notice of his posts in the past you would have known about consolidation and you could have entered at a better price without all the sweating at a better price and with around 10 pips of drawdown.
  • #25,449
  • Sep 24, 2013 6:12am Sep 24, 2013 6:12am
My 42 pip trade.....

There is also a mistake that ended up to be profitable +5 long trade, when i wanted to short, pure luck.
Attached Image (click to enlarge)
Click to Enlarge Name: 2013_09_24_GBPUSD_H1.jpg Size: 182 KB
  • #25,450
  • Sep 24, 2013 6:15am Sep 24, 2013 6:15am
AJ 24 Sep trade:

Here is my trade example using M15 entry with small initial SL.

Attached Image (click to enlarge)
Click to Enlarge Name: AJ 24 Sep M15 Entry example 24-9-2013 7-05-16 PM.png Size: 81 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #25,451
  • Sep 24, 2013 6:20am Sep 24, 2013 6:20am
Found out yesterday that Alpari is shutting down retail business in US and has given/sold my account to FXCM. Does anyone have experience with them any reason for concern?? Should I close my acct and look elsewhere?
  • #25,452
  • Sep 24, 2013 6:32am Sep 24, 2013 6:32am
Quoting jodwayne
Found out yesterday that Alpari is shutting down retail business in US and has given/sold my account to FXCM. Does anyone have experience with them any reason for concern?? Should I close my acct and look elsewhere?
Retail forex brokerage market undergoing restructuring, many big brokerage firms will give up small retail forex business and focus on institutional business.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #25,453
  • Sep 24, 2013 7:01am Sep 24, 2013 7:01am
This is most likely due to regulatory authorities. In the U.S. strict control of forex brokers. Some features of European brokers are simply not available - such as locks prohibited. European brokers do not always take the traders from the United States. Here on the forum where it was discussed.
Greed and fear kills traders
  • #25,454
  • Sep 24, 2013 7:02am Sep 24, 2013 7:02am
open trade this morning GBP/JPY
TP set 50 pips near EMA 60 (hit) after saw bad doji in 4hr chart...
lucky for me because I only check the chart every 4 hr.. so it's less stress
now this pair is still going down... should close half and let the half position running... (next time I'll try this)
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpyh4.png Size: 50 KB
  • #25,455
  • Sep 24, 2013 7:37am Sep 24, 2013 7:37am
Does anyone trade daily charts using this system? I am currently testing how this system works with daily time frame to analyze the trend and the 4 hour chart for entry/exit points!
  • #25,456
  • Sep 24, 2013 7:51am Sep 24, 2013 7:51am
Quoting msivric
Does anyone trade daily charts using this system? I am currently testing how this system works with daily time frame to analyze the trend and the 4 hour chart for entry/exit points!
I do this all the time in case you have not read my posts.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #25,457
  • Sep 24, 2013 7:52am Sep 24, 2013 7:52am
Here is AJ H4 Swing High- Swing Low with Inside Bar setup .
How to get an entry?

Attached Image (click to enlarge)
Click to Enlarge Name: AJ CSP example 24-9-2013 8-41-22 PM.png Size: 33 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #25,458
  • Sep 24, 2013 8:08am Sep 24, 2013 8:08am
Quoting gsbharaj
{quote} closed this trade with 45 pips of profit
Where exactly was your entry and exit? It is not shown on your chart. On my chart, the entire move was only 48.6 pips from the bottom tip of the red setup candle to the top of the second blue candle. To get 45 pips (+the spread) you had to enter right at the bottom of the red candle. There was no signal to enter at the bottom of the red candle. That is called gambling, not trading.
Success to you!
  • #25,459
  • Sep 24, 2013 8:10am Sep 24, 2013 8:10am
Quoting emmanuel7788
{quote} Hi munirpt, I posted last week the H4 MC breakout which I took. This trade is now protected with floating profits, so I added position when market broke below and re-tested the Hist S&R 1.3332 See chart below. {image} regards, EMMANUEL
Attached Image (click to enlarge)
Click to Enlarge Name: XAU week 38 update 23 Sep 23-9-2013 8-00-31 PM.png Size: 34 KB


Here is my XAU trade update below:
Beware of a possible bounce off the last rally level... decision time!

Attached Image (click to enlarge)
Click to Enlarge Name: XAU week 38 update 24 Sep 24-9-2013 9-05-09 PM.png Size: 23 KB


Add when break below last rally level.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #25,460
  • Sep 24, 2013 8:16am Sep 24, 2013 8:16am
Hi all
My first attempt at the system, and it went on to hit the stop loss on the next candle

A buy order when TDI crossed up as seen in the red vertical line. What did I do wrong?

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 78 KB
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