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Trading Made Simple

  • #25,461
  • Sep 24, 2013 8:19am Sep 24, 2013 8:19am
Quoting Phx62
{quote} 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!
sorry it was 42.5
Attached Image
Come tomorrow, I'll wake up new
  • #25,462
  • Sep 24, 2013 8:24am Sep 24, 2013 8:24am
Quoting m00nman26
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? {image}
Hi m00nman,

The H4 TDI cross up was good, but buying against a very bearish previous Day candle is usually not a good idea.

learn to check the higher timeframe to get an idea where the buyers and sellers are.

regards,
EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #25,463
  • Sep 24, 2013 8:24am Sep 24, 2013 8:24am
Quoting thewriter30
apart from not being on top of the yellow, anything wrong with this long TDI setup? AUD USD - H4 {image}

just updating...this was a failure...
  • #25,464
  • Sep 24, 2013 8:28am Sep 24, 2013 8:28am
Quoting thewriter30
{quote} just updating...this was a failure...
well, we win some, we lose some.
that .9420 was in play for a while.
did we missed something else?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #25,465
  • Sep 24, 2013 8:36am Sep 24, 2013 8:36am
Thanks Emmanuel for the Gold advise
  • #25,466
  • Sep 24, 2013 9:24am Sep 24, 2013 9:24am
Quoting Phx62
{quote} Why would you enter long after a 165 pip move down? Back-testing will prove that very seldom will price make a reversal without consolidation even if it only moves 65 or 70 pips in one direction, let alone 165 pips (The only time I have found price to reverse immediately is when there is a very high impact news event). You need to do some serious back-testing to learn how price moves and reacts during different time frames. Also your entry was made after London had closed and NY was half over. Normally not a good time to enter unless you...

Hi Phx62,

If I recall, you was mention that you only trade using H1 TF (and M15 for timing). Now you advise us to learn how price moves and reacts during different TF? Is it H1 & M15 or some one else (H4, Daily TF)?
Thanks for share your precious experience with us.

Thank you!
  • #25,467
  • Sep 24, 2013 10:28am Sep 24, 2013 10:28am
Quoting Pervis
{quote} Hi Phx62, If I recall, you was mention that you only trade using H1 TF (and M15 for timing). Now you advise us to learn how price moves and reacts during different TF? Is it H1 & M15 or some one else (H4, Daily TF)? Thanks for share your precious experience with us. Thank you!
Pervis,
Sorry....I meant to say that traders need to learn how price moves during different times of day.....ie. London session vs NY session vs Asian session. It is also important to learn what price does on your favorite pairs during certain types of news releases, ie Japanese releases, US releases, etc.
You are right.....I primarily trade the H1 with an eye on the M15 to see where price may go. However, I do a weekly analysis of all time frames at the beginning of each week and gather information about each time frame....where is S/R, is the TDI overbought, oversold or riding the 50 line on each time frame, are there trends to be aware of on different time frames, etc? I write that analysis out and print it so I can posted it on my bulletin board for reference when I trade. I do not go into the same detail as Emmanuel but I do an analysis similar to what Rick does on his blog....Pro Traders Network. Hope this clears up my earlier statement.
  • #25,468
  • Sep 24, 2013 10:48am Sep 24, 2013 10:48am
Quoting Phx62
{quote} Pervis, Sorry....I meant to say that traders need to learn how price moves during different times of day.....ie. London session vs NY session vs Asian session. It is also important to learn what price does on your favorite pairs during certain types of news releases, ie Japanese releases, US releases, etc. You are right.....I primarily trade the H1 with an eye on the M15 to see where price may go. However, I do a weekly analysis of all time frames at the beginning of each week and gather information about each time frame....where is S/R,...
Thank Phx62!

I got your mean, now I feeling that I can see the way you do, not too much but it very effective to me.
I was also start to make some pips when I focus on one pair only which you advise before.
  • #25,469
  • Sep 24, 2013 11:19am Sep 24, 2013 11:19am
Quoting m00nman26
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? {image}
I believe i read Eelfranz said when entering a trade on the 4hr chart, wait for the ha candle to be fully above the yellow line to buy and vice versa when to sell...it seems as if you were too eager to press the shoot button.
  • #25,470
  • Sep 24, 2013 12:36pm Sep 24, 2013 12:36pm
have people this looks good entry but I just learning that why I ask is good I need to see 1h/4h before? thanks
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  • #25,471
  • Sep 24, 2013 3:11pm Sep 24, 2013 3:11pm
Hi new to the Forex and looking for a system and this has got my attension!

Here is my set up I take it that looks right.

Also silly queation but whats the PA line?
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  • #25,472
  • Sep 24, 2013 3:42pm Sep 24, 2013 3:42pm
Hi All!
Here are my 3 trades for today, none of them were the best entries, but
thought I would post them anyway with my thoughts.
The first one on ej H1 asia session, PA was coming off 200ema and 61.8 fib for the second time,
also there was divergence, TDI green was slightly crossing over yellow. Better entry would've been after PA broke asia session high.
Trade closed for +50 pips
Second trade on ej was also based on divergence, entry was made when the blue candle broke above the red pullback
candle, TDI cross was poor. Manually closed it for +26, at M15 200ema.
The third trade taken on gu H1 , also based on divergence, entry was made when the second blue candle was coming up and
above the setup candle. There was a TDI cross, but red was still sloping down at time of entry. not A+ tdi signal.
Closed for +21pips, also at M15 200ema
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If you're going through hell, keep going. Winston Churchill
  • #25,473
  • Sep 24, 2013 4:04pm Sep 24, 2013 4:04pm
guys what is the fastest way to check news results? i am looking for something which displays the result immediately and i can act accordingly.
Come tomorrow, I'll wake up new
  • #25,474
  • Sep 24, 2013 4:08pm Sep 24, 2013 4:08pm
Quoting gsbharaj
guys what is the fastest way to check news results? i am looking for something which displays the result immediately and i can act accordingly.
If you wish to trade the news go to the "Central banks and big players" thread.
  • #25,475
  • Sep 24, 2013 5:58pm Sep 24, 2013 5:58pm
Hi,

This is my first post to this group. I've been following for a week now and have been practicing the method with great success on a demo account. This evening, I noticed the attached PA on the GU. I went through the rules as I understood them: green crossing red on TDI preferably at 12-2 angle, don't trade long above 68 level on the TDI or short at the 32 level (this trade was at the 50 level), make sure the stochs are in agreement, make sure there are no major SR levels nearby, make sure there are no whole numbers nearby. I then pulled the trigger for my first live trade (18:30 GMT) at which point, price moved in the opposite direction. I'm currently 18 pips into my 30 pip stop. Do you recommend pulling out now, or waiting to see if the green line can finally push through?

I would be grateful if anyone could advise if there was a way to avoid this situation, or is it just one of those trades that don't work out.

Happy trading.

Moonie.

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  • #25,476
  • Sep 24, 2013 6:11pm Sep 24, 2013 6:11pm
Quoting gsbharaj
guys what is the fastest way to check news results? i am looking for something which displays the result immediately and i can act accordingly.
Usually I'll ask Kathy Lien for specific US data.
If you like to trade news, you can ask me.

But then I trade 4H and higher, news doesn't bother me at the time they are released because the smart money knows well before the public does and whatever happens have been factored in the market price structure.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #25,477
  • Sep 24, 2013 6:11pm Sep 24, 2013 6:11pm
Hi Guys,

NZDUSD trade I am in currently..
Floating at around +80
Took it off 4H TDI cross... was bout 20pips late but wanted to make sure it has momentum down.

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  • #25,478
  • Sep 24, 2013 6:43pm Sep 24, 2013 6:43pm
Quoting emmanuel7788
{quote} news doesn't bother me at the time they are released because the smart money knows well before the public does and whatever happens have been factored in the market price structure.

emmanuel, what do you mean 'smart money has been factored in'?. do you stay out of trades during news time?
  • #25,479
  • Sep 24, 2013 11:02pm Sep 24, 2013 11:02pm
Quoting emmanuel7788
{quote} well, we win some, we lose some. that .9420 was in play for a while. did we missed something else?

Emmanuel my man

True... i think the overall problem with Aud is that in the bigger timeframe is ranging after the upward leg...and it does not know yet whether to resume it's fall or not... hence there is no direction and it's very risky to do what I did of opening longs too high and shorts too low thinking a break may occur just to painfully realise that it was the top/bottom of the day!

is this a proper read?
  • #25,480
  • Sep 25, 2013 3:31am Sep 25, 2013 3:31am
Quoting thewriter30
{quote} Emmanuel my man True... i think the overall problem with Aud is that in the bigger timeframe is ranging after the upward leg...and it does not know yet whether to resume it's fall or not... hence there is no direction and it's very risky to do what I did of opening longs too high and shorts too low thinking a break may occur just to painfully realise that it was the top/bottom of the day! is this a proper read?
market still trapped inside last week' FOMC D candle ... let's see if it will breakout today with stronger USD.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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