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Trading Made Simple

  • #27,341
  • Nov 7, 2013 6:38pm Nov 7, 2013 6:38pm
Quoting thrax
{quote} I closed the EURUSD H4 and USDCHF H4 trades practically at BE as before the high impact news today. These trades were just stagnating. I have found it can be reasonable to use also a time stop, I think after a certain time elapsed and the trade is not going anywhere scaling out or closing the trade can dampen the risk exposure. My earlier trade this week the AUDUSD H4 produced some profit, reaching the TP1. I moved the SL on the remaining positions to BE which was activated. I have to study he charts to see better the synergy. take care,...

Hi Thrax,

The market type do not change so quickly. So knowing the market type is very important when we swing trade. Market volatility and price sudden swings is expected when key data release but the longer term trend usually holds well.

Your three trades - AU, EU and UChf are good examples of sideways market types. AU is wide range and both EU and UChf are narrow range. Trading the sudden breakouts of narrow range is not easy to see in lower TF charts. Look at HTF like D chart and follow the longer term direction. You recall my EU post about Day Inside Bar? the LTF chart H1 will show the IB breakout much easier after we decided on the breakout direction. Also when trading breakouts, I use Plan A and Plan B, and a Plan C when both A and B fails.

regards,
EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #27,342
  • Nov 7, 2013 6:38pm Nov 7, 2013 6:38pm
Quoting itsallover
{quote} Well done Bizzle. I'm not grown up enough to trade news. I always go..... mummy ... and hide behind the sofa till its over. So I stopped lol.
I like your sense of humor...
Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #27,343
  • Nov 7, 2013 9:30pm Nov 7, 2013 9:30pm
Quoting Bizzzle
EU same as EJ show pullback candle at LO so went long but got stop out, so Sold TDI, green was under red under yellow. Lost 15 pips on long. Once trade was over 30 pips profit which was like 100 in seconds jump down to the 5 min chart and closed on signs of reversal, closed for +180. Done for day and week happy trading. {image} {image}
Congratulation on your trades, simplicity is the key , thanks a lot for showing your charts , specially your 5m exit strategy which I try to use these days
I Have Learned to Take Some Losses to Make Profits
  • #27,344
  • Nov 7, 2013 11:22pm Nov 7, 2013 11:22pm
Quoting emmanuel7788
{quote} Hi Manoj, It is correct that most trend reversals occur when the TDI is above the 68-level or below the 32-levels. However, we must also take note that in strong trending and volatile market, the price can still move higher when TDI is above 68 and lower when TDI is below 32. We must rely more on the price action on the price chart and using the APB/HA and the real price OHLC. Learn to use Candlesticks Patterns/Bar patterns and Chart Patterns to spot reversals. There are several pdf posted in this thread by other members and they are very...

Thank you very much for your valuable inputs.
  • #27,345
  • Nov 8, 2013 2:20am Nov 8, 2013 2:20am
Quoting Lane
{quote} Haha... I assume we're talking about charts, so here's one. Others are identical Edit - Nvm the buy stop above, that was something from before {image}
Thankyou Lane.....
.... laughing all the way to the bank
  • #27,346
  • Nov 8, 2013 2:25am Nov 8, 2013 2:25am
USD/CHF Short Trade.

TDI Crossed yellow over red. Hopefully this will be the only trade for today especially since NFP is very near.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 37 KB
Take what the market gives you.
  • #27,347
  • Nov 8, 2013 3:33am Nov 8, 2013 3:33am
Quoting TheScorpS
{quote} Congratulation on your trades, simplicity is the key , thanks a lot for showing your charts , specially your 5m exit strategy which I try to use these days
Thanks mate, the 5min close I only really use when there's a lot of momentum in the market it great for letting good trades run!

All thanks to phx62, I am so greatful to him!
Give yourself a chance and trade it like it's layed out...
  • #27,348
  • Nov 8, 2013 3:38am Nov 8, 2013 3:38am
Morning folks.

Emmanuel I know what you mean, but unfortunately my day to day life doesn't allow me to check on trades very often (even for H4). Even though I'm nearly always near my computer I'm quite busy. When I pop in here it's just for quick posts, and when I have more time I post charts of trades that took place while I was busy. A lot of my trades happen during the Asian session when I sleep. That's the main reason why I use buy/sell stops and hard TPs. Last night in particular it was a football evening in Europe and I had some friends over to watch some games, I hopped to my laptop just for a few times very briefly.

I'll post last evening's yen trades in a few posts, relative to correlation and "type" of trade.

First two:

E/J sell +50
C/J sell +25

Sell stops and hard TPs triggered and hit. No special analysis here, bounce trades on H4. Since it was a big move, I used the daily chart to place my TP. Note the previous S/R and ATR line.
(Ignore the trend line, it's something from before, nothing to do with those trades.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurjpy-h4-oanda-division4.png Size: 72 KB
Click to Enlarge Name: eurjpy-d1-oanda-division4.png Size: 71 KB
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  • #27,349
  • Nov 8, 2013 4:23am Nov 8, 2013 4:23am
U/J sell +110
CAD/J sell +120

Now before I start, to all novice traders and novice TMS traders - know that this entry has nothing to do with TMS. If I had more time during the day I'd try to follow Emmanuel's TMS-II. It's pointless that I try explain it unless you've been trading/testing TMS for a few weeks (at least). Beside your general PA, it's based a lot on specific TDI action on multiple TFs and the fact that there is most RSI movement between 40 and 60 (read the RSI book Emmanuel has mentioned, or at least the math part - it's simple - see attached). But this was not a typical trade of mine, since the PA made me think there would be more movement, so I will explain the details of this particular trade, not my usual "system" (which is in early testing phase).

On H4 the entries make no sense, however on H1 there was a relatively good opportunity to fine tune. Now look on H4 for last two resistance zones, corresponding with the yellow line (note, I didn't mark THEM, I marked my entry on H1. The line just happens to correspond to the Rs). Even at the left side you can see the price dancing around that zone. Then look at that wick that went through the round number. That was news. The price got rejected very quickly (few hours-wise). So I thought something was bound to happen, something downwards - note, other yen pairs had a similar pattern which reinforced my belief. The TDI lines were wiggling near 50, the same thing happening on H1 before the news. News - PL spike on H1, quick retrace to the middle. I repeat, multiple TF TDI lines (all of them) in highly volatile zones, PA kind of weird, weak bulls.
I put my sell stop on H1 according to some rules I'm testing to catch an early move. No TP yet since I felt it was a big one, I decided to wait a bit. How big a move? Another "rule" I'm testing - double ATR on H4. (I won't mention stop losses, when I moved to BE or other zones, it was just emergency)

An hour or two later I checked to see what was going on - the move took off, time to decide on TP, since I generally always feel USD is kind of spiky, it pulls back a lot. So let's try aim for that wick.

Since it was a big move, my "rule" is to look at the higher TF (this case daily) for an ATR line as potential - good enough for CAD/J, nothing in sight for USD/J -Look at the trend line on daily (for U/J), look at the .50 number, previous S/R, roughly the double ATR on H4. Place the TP a bit higher just in case, since trend lines from daily don't exactly look too accurate on H4. Both hard TPs got hit - Luck? Maybe. Probably. TP rules? Maybe. We'll see in a few hundred trades.

Not quite the same movement on CAD/J. Look at the daily, it was much easier to set the hard TP.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: usdjpy-d1-oanda-division4.png Size: 55 KB
Click to Enlarge Name: usdjpy-h4-oanda-division4.png Size: 58 KB
Click to Enlarge Name: usdjpy-h1-oanda-division4.png Size: 36 KB
Click to Enlarge Name: cadjpy-d1-oanda-division4.png Size: 50 KB
Click to Enlarge Name: cadjpy-h4-oanda-division4.png Size: 46 KB
Click to Enlarge Name: cadjpy-h1-oanda-division4.png Size: 44 KB
Attached File(s)
File Type: pdf RSI-The Complete Guide-John Hayden.pdf   6.7 MB | 44,649 downloads
  • #27,350
  • Nov 8, 2013 4:33am Nov 8, 2013 4:33am
A/J sell +120
NZ/J sell +130

Similar pattern at the entry as for previous two pairs. Setting TP a bit different, since these pairs seem to disrespect the ATR lines quite often. So I don't know how to really explain the logic between setting my TP on them, let's just say I consider a lot the round numbers (including .50 in weird cases), the ATR lines, previous S/R etc...

See the channel on A/J, how the price failed to move up. That was one of the signals for a move down.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: audjpy-h4-oanda-division4.png Size: 47 KB
Click to Enlarge Name: audjpy-h1-oanda-division4.png Size: 46 KB
Click to Enlarge Name: nzdjpy-h4-oanda-division4.png Size: 49 KB
Click to Enlarge Name: nzdjpy-h1-oanda-division4.png Size: 49 KB
  • #27,351
  • Nov 8, 2013 4:37am Nov 8, 2013 4:37am
Last but not least.

G/J sell +50

Manual entry based on correlation. TP set on .50 corresponding to the middle of previous consolidation zone. By the way - I could've entered according to my rules, but usually I prefer just to watch this pair since most of the times it looks iffy to me.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy-h4-oanda-division4.png Size: 50 KB
  • #27,352
  • Nov 8, 2013 4:39am Nov 8, 2013 4:39am
Hi Lane,

as I've seen before, you use MT4 for trading. Just drag and drop the trades from terminal window into your chart before saving it.
That gave us an additional view of, when and where you entered and furthermore it is less effort than doing that manually (looking for prices and drawing lines).

Due to the fact that it seems you have a good hand in choosing winning opportunities, that would help us others to learn about that.

Thanks a lot
fxFox
fxFox (all times in my charts are GMT+1)
  • #27,353
  • Nov 8, 2013 4:49am Nov 8, 2013 4:49am
Hereby a trade I did on daily basis on GBPUSD.

Because of less time and focus on trading this week I entered (for TMS) too late ...

Intention was to enter at opening of green D1-candle 2 but this was not possible for me. So later on I placed an entry-order on the level of that opening expecting a possible retracement.

I know this is not a good TMS trade example, but even bad examples are examples. In this case I could be lucky because even of the too late taken setup, the trade result in a win and is just running.

On the left D1-chart, right hand H2: Trading station allows me to set on even H2, H3, H5, H8 charts. Because I am not so happy with H4 and H1, I am just trying something in the middle :-)
Attached Image (click to enlarge)
Click to Enlarge Name: 2013-11-08 1145 GDPUSD.png Size: 218 KB
fxFox (all times in my charts are GMT+1)
  • #27,354
  • Nov 8, 2013 4:56am Nov 8, 2013 4:56am
Quoting fxFox.mb
Hi Lane, as I've seen before, you use MT4 for trading. Just drag and drop the trades from terminal window into your chart before saving it. That gave us an additional view of, when and where you entered and furthermore it is less effort than doing that manually (looking for prices and drawing lines). Due to the fact that it seems you have a good hand in choosing winning opportunities, that would help us others to learn about that. Thanks a lot fxFox
I execute trades with another broker using Java. I use MT4 just for monitoring and the sake of watching multiple broker feeds.
  • #27,355
  • Nov 8, 2013 5:07am Nov 8, 2013 5:07am
Quoting Lane
U/J sell +110 CAD/J sell +120 Now before I start, to all novice traders and novice TMS traders - know that this entry has nothing to do with TMS. If I had more time during the day I'd try to follow Emmanuel's TMS-II. It's pointless that I try explain it unless you've been trading/testing TMS for a few weeks (at least). Beside your general PA, it's based a lot on specific TDI action on multiple TFs and the fact that there is most RSI movement between 40 and 60 (read the RSI book Emmanuel has mentioned, or at least the math part - it's simple - see...
Lane, you really are a top trader and i`m really grateful for the charts and help that you post on here, just gonna spend the rest of the day now reading up on the rsi, thanks again,
Shane in sunny essex, England.
  • #27,356
  • Nov 8, 2013 5:27am Nov 8, 2013 5:27am
Quoting spiritboy
{quote} Lane, you really are a top trader and i`m really grateful for the charts and help that you post on here, just gonna spend the rest of the day now reading up on the rsi, thanks again, Shane in sunny essex, England.
Nah mate, I'm a beginner, and these results just come from two last weeks. Who knows what kind of results I'll have in the weeks to come...

I appreciate the compliment though, but you should rather focus on posts of the likes of Emmanuel, Phx62. I'm just trying to tweak the system for my daily life.

By the way FxFox.mb, regarding time of entries... I put stop orders roughly around H4 starts, but that is no rule, it can be whenever.
Also when do the orders triggers? It's never too near the opening of candles (unless news come). From previous weeks when I tried to analyze when the biggest momentum occurs, it's in the middle of candles. In fact, I'd say mostly in the second or third quarter of hourly candles. Times around candle open/close being pullback times, especially after new candle opens (traders watching candles and taking profits). My two pips.
  • #27,357
  • Nov 8, 2013 6:44am Nov 8, 2013 6:44am
Quoting Lane
{quote} Nah mate, I'm a beginner, and these results just come from two last weeks. Who knows what kind of results I'll have in the weeks to come... I appreciate the compliment though, but you should rather focus on posts of the likes of Emmanuel, Phx62. I'm just trying to tweak the system for my daily life. By the way FxFox.mb, regarding time of entries... I put stop orders roughly around H4 starts, but that is no rule, it can be whenever. Also when do the orders triggers? It's never too near the opening of candles (unless news come). From previous...

Nice trades Lane and thanx for sharing

I'll start posting my trades next week. Just trying to set up my Explorer as well.
.... laughing all the way to the bank
  • #27,358
  • Nov 8, 2013 6:45am Nov 8, 2013 6:45am
Where can I read Emmanuel's TMS-II's system?
Or is it still being worked on?

Thank you!
  • #27,359
  • Nov 8, 2013 6:48am Nov 8, 2013 6:48am
Quoting Neon
Where can I read Emmanuel's TMS-II's system? Or is it still being worked on? Thank you!
Do a search on the paper clip at the top right side of the page.
.... laughing all the way to the bank
  • #27,360
  • Nov 8, 2013 8:27am Nov 8, 2013 8:27am
Does anyone uses IG markets charting platform - ProRealTime ?
Been trying to program the full TDI into ProRealTime without success.
Can anyone pl advise?
Thank you.
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