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Trading Made Simple

  • #27,501
  • Nov 13, 2013 6:58am Nov 13, 2013 6:58am
Yuck

initially targetting 133.05 roughly
Attached Image (click to enlarge)
Click to Enlarge Name: EJJJJ.png Size: 51 KB
  • #27,502
  • Nov 13, 2013 7:10am Nov 13, 2013 7:10am
Quoting WDays
Yuck initially targetting 133.05 roughly {image}
Have to have faith
  • #27,503
  • Nov 13, 2013 7:15am Nov 13, 2013 7:15am
Quoting LFN
I hope someone can comment the trade below (not mine, I took if from an earlier post here). I have no problem with the entry. Maybe a little late. But the exit is not by the exitrules from the beginning of this thread:Exit your trade when the green TDI line goes flat, starts to hook over or makes a check mark reversal. The trade is held longer then the exit signal on this order. The TDI goes flat several candles before the exit. I want to understand this. It is not unusual with this kind of chart posts here with profitable setups. This trade and...
Those were the rules eelfranz had worked out for the H4 chart. The chart you've shown is phx62's chart and he always works on H1 and will target 50 pips unless he sees a reversal signal, not a hook over of tdi.
  • #27,504
  • Nov 13, 2013 7:52am Nov 13, 2013 7:52am
Quoting lastingwell
{quote} Have to have faith
Not when a setup is invalidated :/ I usually run from a setup with what I've got when I see APB change color and break above/below previous candle' high or low...
  • #27,505
  • Nov 13, 2013 8:00am Nov 13, 2013 8:00am
PA on euro pairs is so weird right now... EU and EJ both spiked up...
  • #27,506
  • Nov 13, 2013 8:24am Nov 13, 2013 8:24am
Hi Guys,

What is your take on the EUR/GBP...?
Attached Image (click to enlarge)
Click to Enlarge Name: wEURGBP_20131112.png Size: 120 KB
Be the dragon master...
  • #27,507
  • Nov 13, 2013 8:34am Nov 13, 2013 8:34am
Quoting mastersm
Hi Guys, What is your take on the EUR/GBP...? {image}
Ignore Stoch >80 or <20. Mathematically it's useless for a trader since who knows how long it can stay there.

After that move I'd expect some consolidation first, wait "a couple" of bars...

Where's your TDI? APB? Your chart has nothing to do with TMS
  • #27,508
  • Nov 13, 2013 9:20am Nov 13, 2013 9:20am
Quoting WDays
{quote} Not when a setup is invalidated :/ I usually run from a setup with what I've got when I see APB change color and break above/below previous candle' high or low...
Fair point If I'm on H1 I tend to follow phx's lead and not come out of the trade unless there is a cross back of the tdi and change of candle colour.
  • #27,509
  • Nov 13, 2013 10:43am Nov 13, 2013 10:43am
Quoting lastingwell
{quote} Fair point If I'm on H1 I tend to follow phx's lead and not come out of the trade unless there is a cross back of the tdi and change of candle colour.
Likewise, except I don't wait for the TDI to cross, because usually by then I'm a few dollars shorter... Maybe I should have entered at the close of the LO candle and not wait for a break below it... in any case it set the high of the day and not a candle went past it... Could have held onto my trade but it wouldnt have reached TP anyway.... Bulls are putting up a fight.
  • #27,510
  • Nov 13, 2013 10:45am Nov 13, 2013 10:45am
Quoting mastersm
Hi Guys, What is your take on the EUR/GBP...? {image}
This doesn't mean much... Wait for price to show you the way, don't try to foresee the future
  • #27,511
  • Nov 13, 2013 11:34am Nov 13, 2013 11:34am
Quoting LFN
I hope someone can comment the trade below (not mine, I took if from an earlier post here). I have no problem with the entry. Maybe a little late. But the exit is not by the exitrules from the beginning of this thread:Exit your trade when the green TDI line goes flat, starts to hook over or makes a check mark reversal. The trade is held longer then the exit signal on this order. The TDI goes flat several candles before the exit. I want to understand this. It is not unusual with this kind of chart posts here with profitable setups. This trade and...
LFN
The chart you copied was mine. You are correct....entry was a little late per TMS rules but this trade was taken at London Open as a price action trade. Entry was made once price broke above the Frankfurt candle (2nd blue candle). As Lane pointed out, I enter most H1 trades with a 50 pip SL & 50 pip TP. I adjust those as price action dictates and as the trade progresses. If price does not hit TP, I usually don't exit until I get a confirmed change in candle color.
Regards
  • #27,512
  • Nov 13, 2013 12:16pm Nov 13, 2013 12:16pm
Hi,

due to my work commitments I have just little time this week to follow the markets.

I drew on my charts the Monthly (red) and Weekly (magenta) S/R areas.

I had one EURUSD H4 trade this week and it has been closed already.
Reasons to enter:
I entered after bullish TDI cross above MBL.
The MBL was rising and the price has just moved away from the monthly support area at around 1.33560.
The TP1 was just below the 1:1 risk reward which was hit. After reaching TP1 I move the SL BE+some pips adn therefore the rest of the position was closed at BE+spread.
In hindsight I see, it was not an A++ setup, because the EMA(50) was heading down in contrary to the MBL direction so there was no confluence between them

I am watching the EURUSD now, because in case of a bullish TDI cross, it can be a good long entry according to my approach.

My second trade is USDCHF H4. This is still running.
Reasons to enter:
Steep bearish TDI cross below the MBL and below the weekly S/R area at around 0.92260.
MBL is heading down after spending more than a week at around the 68 area.
The EMA(50) is getting flat.
The price closed below the PAC.

Take care,
thrax
Attached Image(s) (click to enlarge)
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  • #27,513
  • Nov 13, 2013 4:05pm Nov 13, 2013 4:05pm
EU week 46 has a slow start this week.
The D1 chart show a nice setup with TDi cross coming off from below 32-level and APB/HA change colour.
Waited in lower timeframe fro a retracement and entry using Fib38/50 entry.
I see potential for a Master Candle breakout should USD weaken.
Attached Image (click to enlarge)
Click to Enlarge Name: EU week 46 D1 setup entry.png Size: 59 KB


Note: as USD weakens, this will slow down AU and NU, which can cause consolidation and reversal.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #27,514
  • Edited 7:59pm Nov 13, 2013 7:45pm | Edited 7:59pm
Following on from EG 11.11.13 Trade – Plan B would have taken shape but would have been revised slightly for the reasons outlined on the D1 Chart

EG - Missed 4H Short entry (gotta love 7am meetings)

See Chart for notes

Regards,


Erol

Attached Image (click to enlarge)
Click to Enlarge Name: EURGBP_Missed_Entry_2013-11-14.png Size: 77 KB

Edit: (4) should be (3) on the H4 Chart notes
  • #27,515
  • Nov 13, 2013 9:09pm Nov 13, 2013 9:09pm
posted the question before can someone answer. it is hard to see the green crossing the red because it seems the red is crossing the green is more visible. Any ideas of how to identify it?
  • #27,516
  • Nov 13, 2013 10:09pm Nov 13, 2013 10:09pm
Quoting nilanish
posted the question before can someone answer. it is hard to see the green crossing the red because it seems the red is crossing the green is more visible. Any ideas of how to identify it?
your answer is on post # 27445
  • #27,517
  • Nov 13, 2013 11:49pm Nov 13, 2013 11:49pm
Quoting lastingwell
{quote} Nice to see after a 3 month absence from posting you haven't changed one little bit. Lets hope you were practising trading while you were away

Indeed
  • #27,518
  • Nov 14, 2013 3:27am Nov 14, 2013 3:27am
Quoting allisonmagic
{quote} Indeed
Hello allisonmagic,

I looked at your recent posts and noticed that there has been quite a consistent pattern in the nature of your comments. Most of them voice your scepticism on the validity of whatever method/strategy/money management you browse. In fact, most of them are like that. I admire your dedication to still post here on forex factory which shows that you still have a passion for trading. I understand your perspective and I too have the same concerns from time to time. I even thought of posting comments similar to that of yours in the hopes that some great traders like emmanuel or phx will come at me with a slap in the face showing me great trades they have taken(which they have). Im pretty sure that a lot of other memebrs have gone/ are going through the same frustration as you are. However, instead of spite, they focus that energy into study time and encouragement of each other on the threads. I just want you to know that even though your comments might seem a bit harsh, they will forgive you. So dont feel too bad

Keep trading mate.
  • #27,519
  • Nov 14, 2013 6:31am Nov 14, 2013 6:31am
Quoting Tiggrrr
Nonetheless...So basically... Whenever tdi crosses above MBL we go long, and below MBL we enter short. After analyzing the charts on the 4H charts and each candlestick hi/low, it is impossible to not make any money by following those simple rules. I mean...why enter a trade crossing your fingers so when you wake up the next morning to see profits when you can simply put in a 20-30 pip TP every time you enter with those simple rules ? I noticed a lot of you guys enter a trade, and magically guess a TP by looking at the FIBo levels or major support...
Tiggrr, Simplicity is the key! Sometime people listen to other too much, I did when first starting but Trading is a personal thing, which only you know what you see and which trades you wanna take...

When I first started out I would have a signal to buy but because I read somewhere the markets in a downtrend I didn't trade and missed a great trade.

My point is have a trade plan, your own with rule you must follow, 'If this happens then' etc... back-test and have confidence in it.

Try things out having a 20 pip TP might work for you and not others.

I have put up a 4 hour chart of the EJ showing u the past couple of week and you can see that with your 20-30pips TP they would have all be successful.

All the best
Attached Image (click to enlarge)
Click to Enlarge Name: 4hour example.png Size: 81 KB
Give yourself a chance and trade it like it's layed out...
  • #27,520
  • Nov 14, 2013 6:34am Nov 14, 2013 6:34am
Hello everyone, here's one trade i made last night right before bed with USD/JPY. The 4H chart was showing some strong momentum BUOB from the bulls, so i waited for the second candle to form on the 4H. Once it formed the TDI had crossed above the MBL, and using the 80-40 rule for RSI you see that the TDI has been hovering in that range indicating an uptrend, so i would only trade crosses up of the TDI for long positions. I entered and placed my S/L at the last swing low, and my TP was set to 100 as a round number psychological level. +34 Pips on this one trade. Thoughts?

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