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Trading Made Simple the right way, and other trading lessons 334 replies

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Trading Made Simple

  • #26,761
  • Edited 9:01am Oct 22, 2013 8:23am | Edited 9:01am
2 EJ trades this week so far.
First entered shortly after market opened on sunday,
that trade closed for +50 pips,
Second opened yesterday NY session, just closed for +75.
second image is H4 view

I want to say thank you to all the wonderful traders here, who helped
me and others.
Attached Image(s) (click to enlarge)
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If you're going through hell, keep going. Winston Churchill
  • #26,762
  • Oct 22, 2013 8:29am Oct 22, 2013 8:29am
Good morning N/Y session.

Lane & Trekker

Welcome to tms... you will learn alot here.

sj
  • #26,763
  • Oct 22, 2013 8:31am Oct 22, 2013 8:31am
Quoting Imi
2 EJ trades this week so far. First entered shortly after market opened on sunday, that trade closed for +50 pips, Second opened yesterday NY session, just closed for +75. second image is H4 view {image} {image}
Nice trades mate.

Funny how similar our trades look
Give yourself a chance and trade it like it's layed out...
  • #26,764
  • Oct 22, 2013 8:35am Oct 22, 2013 8:35am
Quoting Bizzzle
{quote} Nice trades mate. Funny how similar our trades look

thought you went golfing, wanted to shout to wait for me.
If you're going through hell, keep going. Winston Churchill
  • #26,765
  • Oct 22, 2013 8:36am Oct 22, 2013 8:36am
Irishtoffy,


Good question on synergy apb. Let me see if I can help you.

When your in a up trend (blue bars) you want to see a
nice square bottom (candle) and a wick on the top.
That means hold the up trend.

When your in a down trend (red bars) you want to see a
nice square top (candle) and a wick on the bottom.
That means hold the down trend.

If you go to Compass Fx. Go to videos, Go to synergy.
Their is a video explaining exactly how the apb should
look and act. Check it out.

sj
  • #26,766
  • Oct 22, 2013 8:40am Oct 22, 2013 8:40am
Agk007,

That is how you learn!

I've taken hundreds of those trades, after
awhile you start really looking at the guppy's,
candle count & tdi.

You did great and learned, that is what
is important!

sj
  • #26,767
  • Oct 22, 2013 9:23am Oct 22, 2013 9:23am
Just completed my EJ H1 trade for today.....based on market harmonics, I expected price to move at least to last months high. With the help of NFP announcement, it blew on past and hit TP. Chart shows trades taken last Friday, Monday and today.
Attached Image (click to enlarge)
Click to Enlarge Name: 2013.10.22 ej h1 3 days.png Size: 58 KB
  • #26,768
  • Oct 22, 2013 9:52am Oct 22, 2013 9:52am
Dear Friends,

Attached here with my first profit trade.I just trade after the candle brake Asian session.The trade is still running.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD.png Size: 242 KB
Helanka
  • #26,769
  • Oct 22, 2013 10:18am Oct 22, 2013 10:18am
Quoting Phx62
Just completed my EJ H1 trade for today.....based on market harmonics, I expected price to move at least to last months high. With the help of NFP announcement, it blew on past and hit TP. Chart shows trades taken last Friday, Monday and today.{image}
Once more, I can see on the chart you posted I took the same setup as you, and this time our entries are almost the same too, on monday. I really need to work on timing... And on exits also...

It doesn't mean much, but it's a small victory nonetheless
Attached Image (click to enlarge)
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  • #26,770
  • Oct 22, 2013 11:24am Oct 22, 2013 11:24am
Quoting Phx62
Just completed my EJ H1 trade for today.....based on market harmonics, I expected price to move at least to last months high. With the help of NFP announcement, it blew on past and hit TP. Chart shows trades taken last Friday, Monday and today.{image}

Hi Phx62,

good trades as always.

I have one question about monday.

The beginning of London Session looked to me like a setup to enter short.

- FO rejected the Friday high
- LO retested and closed lower

The candle after LO opened red and started to pull down.

I saw that in some of your previous posts this would be considered like a LO rejection trade. Am i wrong?

In your opinion, was it a good setup, why wouldn't you take that?


Thanks a lot.
  • #26,771
  • Oct 22, 2013 12:02pm Oct 22, 2013 12:02pm
Took this trade based on US data negative, so EUR would be stronger for the day, PA made an outside bullish engulfing bar, following last week analysis post

Post 26,611 the continuation of ABCD pattern was still intact, in back testing the H1 also shows that after big news if there is a big bar like outside bullish

engulfing or engulfing pattern with cross of TDI, a setup is still valid even if the setup bar is huge bar as in the case of EUR/JPY, the setp up bar was almost 50 + pips

So based on that , I enterd the trade, exit manually for + 40 pips

Now EUR/JPY trending up, lets see if PA continues north
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I Have Learned to Take Some Losses to Make Profits
  • #26,772
  • Oct 22, 2013 1:39pm Oct 22, 2013 1:39pm
Quoting Bordy
{quote} Hi Phx62, good trades as always. I have one question about monday. The beginning of London Session looked to me like a setup to enter short. - FO rejected the Friday high - LO retested and closed lower The candle after LO opened red and started to pull down. I saw that in some of your previous posts this would be considered like a LO rejection trade. Am i wrong? In your opinion, was it a good setup, why wouldn't you take that? Thanks a lot.
If I were only looking at price and candle patterns like the blue Frankfurt pinbar (as you described), I might agree that a short trade was in order following LO on Monday. But if you analyse further you can see some things that are not in agreement with a short trade. Take a look at the TDI. Where is the yellow Market Base Line? Where is the green RSI Price Line? Where is the red Trade Signal line? Are these lines above or below the 50 line and is the TDI trending up, down or sideways? Is price trending up, down or sideways?
What I saw, in addition to what you pointed out, was Price had been trending up since the open of NY on Friday. The TDI MBL was flat but the green RSI and red TSL were also trending up, with no divergence. All three TDI lines were above the 50 line. The green RSI and the red TSL were both above the yellow MBL. The green Price Line bounced off the red TSL at the open of the entry candle. The red setup candle created a pinbar and closed higher than it opened. Those are the things I saw that indicated a long entry. Even with those signals, there was not much volume and price did not move very far in the 10 hours I was in the trade, so I exited with a small profit. Hope this helps.......
  • #26,773
  • Oct 22, 2013 1:46pm Oct 22, 2013 1:46pm
So who got some great pips today with the market !

Was like shooting fish in a barrol!
  • #26,774
  • Oct 22, 2013 4:55pm Oct 22, 2013 4:55pm
Hi All


Short PDF by Johny Hadyen (Author of the RSI book Emmanuel has shown us) titled "Trend determination - a Quick, Accurate & Effective Methodology."

"My belief is that a valid indicator [RSI] will work in all markets, and in all time periods. The RSI is used for 1) Trend Analysis 2) To help determine price objectives" -John Hayden

Erol

Attached File(s)
File Type: pdf Trend Determination_RSI_John_Hayden.pdf   560 KB | 4,998 downloads
  • #26,775
  • Oct 22, 2013 7:40pm Oct 22, 2013 7:40pm
He Erol,

Thanks for posting the "trend determination rsi pdf",
I enjoyed reading it.

It's 6:30 p.m. my time (L/O is 1:00 a.m.)
I thought I'd take a look at the aud/usd...early

Thanks everyone,

sj
Attached Image (click to enlarge)
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  • #26,776
  • Oct 22, 2013 8:00pm Oct 22, 2013 8:00pm
Just a simple question: have anyone tried to automate this strategy as described for ellfranz, trading only on the market hours described too?
  • #26,777
  • Oct 22, 2013 9:24pm Oct 22, 2013 9:24pm
Quoting Erol
Hi All Short PDF by Johny Hadyen (Author of the RSI book Emmanuel has shown us) titled "Trend determination - a Quick, Accurate & Effective Methodology." "My belief is that a valid indicator [RSI] will work in all markets, and in all time periods. The RSI is used for 1) Trend Analysis 2) To help determine price objectives" -John Hayden Erol {image}
thanks for sharing
  • #26,778
  • Oct 22, 2013 11:17pm Oct 22, 2013 11:17pm
Quoting JF_Derzi
Just a simple question: have anyone tried to automate this strategy as described for ellfranz, trading only on the market hours described too?
Hey man.. i think some ppl tried before but failed miserably... The EA doesn't have the forex basic sense that ellfranz was talking about.

imho.. learn to trade, then you will be set for life. Getting an EA is like relying someone to do work for you. If you want the best results, you got to put in the effort yourself and face all the challenges that comes with it
  • #26,779
  • Oct 23, 2013 12:56am Oct 23, 2013 12:56am
Good morning to everyone.
Many green pips to you...

sj
  • #26,780
  • Oct 23, 2013 1:06am Oct 23, 2013 1:06am
Quoting snarlyjack
Good morning N/Y session. Lane & Trekker Welcome to tms... you will learn alot here. sj

Thanks for the welcome Snarlyjack. Great to be here.

Just thought I'd mention, in case anyone wasn't aware that Forex Tester 2 has the TDI indicator, so if you have this software you can back test TMS all you want! This is how I've been spending some of my weekends lately, sad I know, but has to be done! :nerd:
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