Trading Made Simple | Page 1374 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Monitor for 'Trading Made Simple' system 565 replies

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

Indicators for the 'Trading Made Simple' system 343 replies

MTF Indicators for the 'Trading Made Simple' system 241 replies

Trading Made Simple system follower - Thanks to eelfranz 9 replies

Attachments: Trading Made Simple
Exit Attachments

Trading Made Simple

  • #27,461
  • Nov 12, 2013 7:06am Nov 12, 2013 7:06am
Quoting LFN
Thx for your replies on the news question. Then tomorrow will be a no trading day, it is 4 different GBP high impact news under London open.
Keep in mind you can still take a trade with the news... I just don't advise you to trade after, because market becomes slow. There are plenty of people who trade news based on certain patterns that take place over and over prior to each release and profit well
  • #27,462
  • Nov 12, 2013 7:31am Nov 12, 2013 7:31am
Close 1/2 of short AUDCHF position at 76,4% retracement from the upmove, with +77 pips
Stop for the rest 1/2 remains on b/e supposed to be managed by viewing on D1/H4-tdi
Attached Image (click to enlarge)
Click to Enlarge Name: 2013-11-12 14.20 GMT+1 AUDCHF.png Size: 222 KB
fxFox (all times in my charts are GMT+1)
  • #27,463
  • Nov 12, 2013 8:47am Nov 12, 2013 8:47am
Quoting zackery
Any Backtests for the H4-TF regarding the different GMT's with different Brokers? The Backtest results I have done with GMT 0 are not so good as with Brokers using the +1 / +3 / -5 GMT's. Means a lot more fakeys in GMT 0. Just my observation. Maybe it's because most of the time News coming out @ 09.30 London time(mostly GBP-News) and @13.30 London time(mostly US-News). So the Candles of the GMT 0 are still running 1.5 hours because they Open @ 08.00 .So with GMT +2 (now in winter ) the beginning of the next candle (which 10.00 ) is 0.5 hour before...
I don't think anyone on here just puts in a trade just relying on the cross of the TDI, you need to take into account price action along with the TDI. If you rely solely on an indicator you will fail, if that was all there was to it we might as well put an EA on the chart.
  • #27,464
  • Nov 12, 2013 9:10am Nov 12, 2013 9:10am
Quoting lastingwell
{quote} I don't think anyone on here just puts in a trade just relying on the cross of the TDI, you need to take into account price action along with the TDI. If you rely solely on an indicator you will fail, if that was all there was to it we might as well put an EA on the chart.
@lastingwell:
I have never said that I only rely on the TDI-Signals.
The GMT are just a further Backtesting-issue I have done with different Brokers.
How the Candles look like along with SR are always first.
But Candles with other GMT always have an other look .
And that's difficult.
  • #27,465
  • Nov 12, 2013 9:33am Nov 12, 2013 9:33am
Quoting zackery
{quote} @lastingwell: I have never said that I only rely on the TDI-Signals. The GMT are just a further Backtesting-issue I have done with different Brokers. How the Candles look like along with SR are always first. But Candles with other GMT always have an other look . And that's difficult.
Thats good you're looking at PA as well as the cross, if you are going to trade H4 you can only really trade what you see on the broker you're with, its all swings and roundabouts, Emmanele has GMT +0 as a broker as far as I know and seems to manage very well
  • #27,466
  • Nov 12, 2013 10:41am Nov 12, 2013 10:41am
I'm hoping my chart pic shows up, it seems the directions I downloaded some time ago aren't the same as needed now but the trade is classic Phx62: buy gbp/usd @ 1.5900 SL & TP each 50 pips, TP hit.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd-h1-oanda-division1-2.png Size: 42 KB
  • #27,467
  • Nov 12, 2013 11:04am Nov 12, 2013 11:04am
Two trades today on GU H1. I have been reading the discussion about news trading. Trading at news time is not something to be afraid of. We just have to manage when and how we trade around news. Obviously, we should not enter a trade right at the news time unless we have learned how to be fundamental traders. I only stay in an existing trade at news time if my risk is managed and I would never enter a trade 15 to 30 minutes before a major news release. I have attached two charts GU H1 and GU M15 showing the trades I took today (I did not take the trades on the M15....that chart is just to point out the news candle.....both trades were taken on the H1 chart). Notice that the LO trade was taken an hour before the GBP news releases. Price had already moved 38 pips in my favor BEFORE news was released so there was no risk in staying in the trade. My SL had already been moved to BE before the news. My second trade was a scalp trade for 40 pips on a cross of the TDI. Since it was at NYO, I set a 40 pip TP.
Attached Image (click to enlarge)
Click to Enlarge Name: 2013.11.12 gu h1.png Size: 41 KB
Attached Image (click to enlarge)
Click to Enlarge Name: 2013.11.12 gu m15.png Size: 52 KB
  • #27,468
  • Nov 12, 2013 11:18am Nov 12, 2013 11:18am
Same gu ct trade in NY session as PHx62's
I missed the first blue candle so after it closed I waited for price to come back down to RN
and made the entry, closed for +40 pips as it missed the next RN by 5 pips which was my original target
Attached Image (click to enlarge)
Click to Enlarge Name: Greenshot_2013-11-12_10-21-49guH1.png Size: 32 KB
If you're going through hell, keep going. Winston Churchill
  • #27,469
  • Nov 12, 2013 11:18am Nov 12, 2013 11:18am
Quoting Phx62
Two trades today on GU H1. I have been reading the discussion about news trading. Trading at news time is not something to be afraid of. We just have to manage when and how we trade around news. Obviously, we should not enter a trade right at the news time unless we have learned how to be fundamental traders. I only stay in an existing trade at news time if my risk is managed and I would never enter a trade 15 to 30 minutes before a major news release. I have attached two charts GU H1 and GU M15 showing the trades I took today (I did not take the...
@Phx62:
Thanks for your info.
It's the same to me.
If there any LIMITS open (which are not filled! ) right 5 minutes before important News I take all LIMITS out.Also because I am with OANDA and they are known as big spread -widener @ NEWS .
If there are any Trades open I immediately go to BE or Exit with a small SL.
Because I always trade with LIMITS the Candle before the News comes out.Even in my preferred TF H4.
I am interested if any other OANDA-Trader has the same rules around News???
  • #27,470
  • Nov 12, 2013 11:21am Nov 12, 2013 11:21am
Hi Phx62,

First of all i would like to say i have learnt so much ( and still am) from your posts and agree with what you say as i took the same trade.

My logic was that the cross had already happened before LO so i wait till / if LO open breaks the low of FO.

Then as you mentioned you usually will be able to get to BE before the release .
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD-,H1News.png Size: 33 KB
Steadfastness is held above all success
  • #27,471
  • Nov 12, 2013 1:53pm Nov 12, 2013 1:53pm
I would like to thank Emmanuel for the very informative post
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.JPG Size: 132 KB
  • #27,472
  • Edited 5:03pm Nov 12, 2013 3:49pm | Edited 5:03pm
1st trade of the week after BPP conducted on E/G on Sunday evening:

  1. Multiple Inside bars observed
  2. TDI/PA Divergence observed – wait patiently for short term trend reversal
  3. Bearish engulfing Candle on Daily followed by Spinning top CSP observed

Plan was as follows:

  1. Trade Breakout of Inside Bars on EUR/GBP

    1. Plan A Bullish trade

       

      1. Short swing trade as against Daily trend
      2. Execute after Price Breaks Master Candle to upside
      3. Open 2 positions close 1 @ TP1
      4. Move second to BE
      5. Add positions if Master Candle Forms and TDI bounce
      6. Against trend so aim is to target return of 1.5% as per my rules

  2. Plan B Bearish Trade

    1. Criteria not disclosed here

  3. Plan C execute if Plan B is implemented

Attached Image (click to enlarge)
Click to Enlarge Name: EURGBP_Trade_12.11.13.png Size: 56 KB


Decided to exit on confluence of TDIpl >80, PA reaching weekly Resistance around 0.84493, Round Number - took
  • #27,473
  • Edited 7:01pm Nov 12, 2013 6:04pm | Edited 7:01pm
Quoting Erol
1st trade of the week after BPP conducted on E/G on Sunday evening: Multiple Inside bars observed TDI/PA Divergence observed – wait patiently for short term trend reversal Bearish engulfing Candle on Daily followed by Spinning top CSP observedPlan was as follows: Trade Breakout of Inside Bars on EUR/GBP Plan A Bullish trade Short swing trade as against Daily trend Execute after Price Breaks Master Candle to upside Open 2 positions close 1 @ TP1 Move second to BE Add positions if Master Candle Forms and TDI bounce Against trend so aim is to target...

Erol,

Excellent trades and post.

Last week's market reaction to the tier one news/data release created several wide range bars WRB and following narrow range consolidation seen in many pairs especially the majors.

EURGBP D1 should close today with a Master Candle breakout bar. This may see rise in Euro against GBP but the corrections will take out the tight stops below. re-entry will be the method for the trading days ahead.

Also keep eyes on EURUSD from today onwards. It had been a slow starter. Watch closely those MC and IBs on H4 and D1.

Trade Well.

regards,
EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #27,474
  • Nov 12, 2013 6:14pm Nov 12, 2013 6:14pm
Quoting emmanuel7788
Kiwi D view: watching this to see whether the down move can break below 0.8200 this month. {image}
Attached Image (click to enlarge)
Click to Enlarge Name: NZDUSD week 46 D view.png Size: 31 KB

Kiwi update:

Looking good below 0.8200.
A good 40+ pips to test previous D low.
LTF entry with PAC if you are not in the market for this one.
Attached Image (click to enlarge)
Click to Enlarge Name: NZDUSD week 46 update 13 Nov.png Size: 28 KB


Good Trading day ahead.

regards,
EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #27,475
  • Nov 12, 2013 6:21pm Nov 12, 2013 6:21pm
EUJPY week 46 13Nov update:

EJ should re-test 135.10 before year-end close. Plan, buy, build and run, hold ..position trading.

Look at Monthly and those MN candles in 2009.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #27,476
  • Nov 12, 2013 6:21pm Nov 12, 2013 6:21pm
Thanks for sharing!
Great breakdown of your trade!
I am making notes...


Quoting Erol
1st trade of the week after BPP conducted on E/G on Sunday evening: Multiple Inside bars observed TDI/PA Divergence observed – wait patiently for short term trend reversal Bearish engulfing Candle on Daily followed by Spinning top CSP observedPlan was as follows: Trade Breakout of Inside Bars on EUR/GBP Plan A Bullish trade Short swing trade as against Daily trend Execute after Price Breaks Master Candle to upside Open 2 positions close 1 @ TP1 Move second to BE Add positions if Master Candle Forms and TDI bounce Against trend so aim is to target...
  • #27,477
  • Nov 12, 2013 6:32pm Nov 12, 2013 6:32pm
Quoting thomi
I would like to thank Emmanuel for the very informative post {image}
hi Thomi,

Well, we all must thank the market for the profits and also remember our social responsibilties towards the less fortunate folks in our community.

GBPUSD, great trade as I see you took the smaller IB bearkout while PA was within the H4 master candle. That MC breakout was fast and furious. All in the BPP.

Many traders traded the news, but we should see that news events create higher volatility but most often the market will follow the longer term trend direction. The Price trend and TDI trend are both in synergy. So our job is to stay away from the volatile price swings when news/data release time.

Good Trading.

regards,
EMMANUEL

Edit:
Added chart example to explain above.
Attached Image (click to enlarge)
Click to Enlarge Name: GU week 46 MC breakout.png Size: 66 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #27,478
  • Nov 12, 2013 7:10pm Nov 12, 2013 7:10pm
AUDUSD week 46 13 Nov update:

We see aussie clearing 0.9314 but 0.9285 can be show-stopper. Must break this level to move further lower. If you had done your BPP, then you should see these levels mentioned.
The Price trend is still intact and is in synergy with the TDI trend.
But with the TDI below the 40-level, there will be fear amongst the sellers and buyers will be greedy waiting to buy. TDi/RSi can go further down to 20-level in strong down trending markets. Look out for bullish divergence in higher TF H4 and D1, and also bullish reversal CSP.

Let PA show us the way.
There is no time for fear.
There is no need for greed.
Just simple price action trading with TMS.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #27,479
  • Nov 12, 2013 7:38pm Nov 12, 2013 7:38pm
Quoting emmanuel7788
{quote} hi Thomi, Well, we all must thank the market for the profits and also remember our social responsibilties towards the less fortunate folks in our community. GBPUSD, great trade as I see you took the smaller IB bearkout while PA was within the H4 master candle. That MC breakout was fast and furious. All in the BPP. Many traders traded the news, but we should see that news events create higher volatility but most often the market will follow the longer term trend direction. The Price trend and TDI trend are both in synergy. So our...
Furthering Emmanuel's chart example See PDFs on post #16,421 and two great examples on post #16,711 & #16,494 for anyone struggling with the IB concept - a great tool to be used in your TMS arsenal (not the football club btw).
  • #27,480
  • Nov 12, 2013 7:45pm Nov 12, 2013 7:45pm
My trades for the week "so far"

1. EUR/JPY 1hr chart:

Took this trade based on confirming price action, breaking above the previous highs driven by strong demand. +50 pips profit.

2. GBP/USD 1hr chart:

Cross of TDI confirming my bias of strong supply area @ 1.5993. +100 pips profit.

3. EUR/JPY 1hr chart

This one didn't have much momentum. So I closed it out @ +8 pips profit. I'm sure I could hold it for next few hours into profit, but I'll wait for a better setup.

Total so far: +158 pips.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpusd.jpg Size: 97 KB
Click to Enlarge Name: eurjpy.jpg Size: 97 KB
27 traders viewing now, 3 are registered:
Adventure01
,
pauljred
,
menaldo81