Trading Made Simple | Page 1394 | 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

  • #27,861
  • Nov 28, 2013 6:18am Nov 28, 2013 6:18am
Hey guys, I have a question - how many H4 traders are there among us?

I've been working on my H1 trading plan for the last couple of weeks, pretty successful so far, but still I feel like I'm more of a "H4 man", I feel a lot more calm, steady, and can actually get life stuff done heh. It would be probably best for me to start working on a H4 plan, but you know how it is when you hop on a higher TF... I just get itchy when there are so many smaller, more precise H1 trades especially during early London.

While I do some backtesting and studying of H4 charts, do you have any special advice? Do some patterns become more relevant, how much S/L risk is reasonable, average PA move per TMS trade for some pairs you trade? etc etc.. anything you might find useful. By the way, most of the times it should be possible for me to wake up for those Asian session candles
  • #27,862
  • Nov 28, 2013 6:57am Nov 28, 2013 6:57am
Quote
how many H4 traders are there among us?
haven't been very active on this forum but will change soon. I find smaller TF mean I'm stuck at my pc too much which I can't do. Higher TF = less signals, more risk but more time as well. I looked at H8 and H12 but not sure if I'm liking those, not very common TF.
  • #27,863
  • Nov 28, 2013 8:33am Nov 28, 2013 8:33am
GA : Pin Reversal Pattern

Set up : Pin created due to news, which in turn created a double bottom.

Entry : As news created the pin i entered on price breaking above the pin rather than wait for TDI cross.

TP : ADR
Attached Image (click to enlarge)
Click to Enlarge Name: GBPAUD28112013.png Size: 131 KB
Steadfastness is held above all success
  • #27,864
  • Nov 28, 2013 8:37am Nov 28, 2013 8:37am
Quoting goochie
GA : Pin Reversal Pattern Set up : Pin created due to news, which in turn created a double bottom. Entry : As news created the pin i entered on price breaking above the pin rather than wait for TDI cross. TP : ADR {image}
Saw and did the same trade - 23 pips
  • #27,865
  • Nov 28, 2013 9:01am Nov 28, 2013 9:01am
Quoting sk8buc
{quote} Saw and did the same trade - 23 pips
Well done, its taken me while to get confidence with these set ups but they usually lead to good pips ...
Steadfastness is held above all success
  • #27,866
  • Nov 28, 2013 9:05am Nov 28, 2013 9:05am
Took a buy on Eur/Nzd I had to go out for a little while so left a 50pip stop and 50pip tp on it. The 50 pip tp took it to roughly yesterdays high so didn't want to get greedy. Came back to find it had taken profit very quickly I left it until this candle because the h4 tdi was pretty flat until then even though the green had crossed just above the red.
Attached Image (click to enlarge)
Click to Enlarge Name: eurnzdmh1.png Size: 23 KB
  • #27,867
  • Nov 28, 2013 9:09am Nov 28, 2013 9:09am
Well I seem to have my normal chart size back again
  • #27,868
  • Nov 28, 2013 9:15am Nov 28, 2013 9:15am
Quoting goochie
GA : Pin Reversal Pattern Set up : Pin created due to news, which in turn created a double bottom. Entry : As news created the pin i entered on price breaking above the pin rather than wait for TDI cross. TP : ADR {image}

Very nice trade
  • #27,869
  • Nov 28, 2013 9:29am Nov 28, 2013 9:29am
Quoting lastingwell
Took a buy on Eur/Nzd I had to go out for a little while so left a 50pip stop and 50pip tp on it. The 50 pip tp took it to roughly yesterdays high so didn't want to get greedy. Came back to find it had taken profit very quickly I left it until this candle because the h4 tdi was pretty flat until then even though the green had crossed just above the red. {image}
Same to you .. good trade .. yes the screen shot is better as well
Steadfastness is held above all success
  • #27,870
  • Nov 28, 2013 9:32am Nov 28, 2013 9:32am
Quoting lastingwell
Took a buy on Eur/Nzd I had to go out for a little while so left a 50pip stop and 50pip tp on it. The 50 pip tp took it to roughly yesterdays high so didn't want to get greedy. Came back to find it had taken profit very quickly I left it until this candle because the h4 tdi was pretty flat until then even though the green had crossed just above the red. {image}
You're printing IT my dear!
Funny though I opened eu/nzd chart this morning because of your posts and saw
the same setup,(didn't take it) checked back a little later and saw it has moved 70 pips.
Congrats! and thank you for the vouch
If you're going through hell, keep going. Winston Churchill
  • #27,871
  • Nov 28, 2013 9:36am Nov 28, 2013 9:36am
Quoting Imi
{quote} You're printing IT my dear! Funny though I opened eu/nzd chart this morning because of your posts and saw the same setup,(didn't take it) checked back a little later and saw it has moved 70 pips. Congrats! and thank you for the vouch
You're more than welcome! I like Eur/nzd because of its high atr at the moment it really does move when it wants to
  • #27,872
  • Nov 28, 2013 9:37am Nov 28, 2013 9:37am
Quoting goochie
GA : Pin Reversal Pattern Set up : Pin created due to news, which in turn created a double bottom. Entry : As news created the pin i entered on price breaking above the pin rather than wait for TDI cross. TP : ADR {image}
goochie, my buddy
SPOT ON !
If you're going through hell, keep going. Winston Churchill
  • #27,873
  • Nov 28, 2013 9:37am Nov 28, 2013 9:37am
EA :

Set up : Although the cross was below the MBL a 123 pattern had formed on the TDI that mirrored PA, which meant the cross was HL.

Entry : Waited for TDI cross then entered on break of previous candle high

TP : Was previous days High but exited manually as there was a 25pip pull back from ADR

When i took this trade my other trade in GA was BE otherwise i would have passed on this set up

There is also a BE trade from LO .... as the TDI had already crossed, entry was based on LO break above RN ... ended up BE
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD28112013.png Size: 45 KB
Steadfastness is held above all success
  • #27,874
  • Nov 28, 2013 9:39am Nov 28, 2013 9:39am
Quoting Imi
{quote} goochie, my buddy SPOT ON !
Thanks mate, and thanks for all the guidance ....
Steadfastness is held above all success
  • #27,875
  • Nov 28, 2013 9:43am Nov 28, 2013 9:43am
Quoting Bizzzle
{quote} Nice trading mate
Trying to catch up with ya
and thank you for the vouch
If you're going through hell, keep going. Winston Churchill
  • #27,876
  • Nov 28, 2013 9:58am Nov 28, 2013 9:58am
Quoting Imi
{quote} You're printing IT my dear! Funny though I opened eu/nzd chart this morning because of your posts and saw the same setup,(didn't take it) checked back a little later and saw it has moved 70 pips. Congrats! and thank you for the vouch
I've just noticed you vouched for me, thank you Imi
  • #27,877
  • Nov 28, 2013 9:59am Nov 28, 2013 9:59am
Quoting Lane
Hey guys, I have a question - how many H4 traders are there among us? I've been working on my H1 trading plan for the last couple of weeks, pretty successful so far, but still I feel like I'm more of a "H4 man", I feel a lot more calm, steady, and can actually get life stuff done heh. It would be probably best for me to start working on a H4 plan, but you know how it is when you hop on a higher TF... I just get itchy when there are so many smaller, more precise H1 trades especially during early London. While I do some backtesting and studying of...
I am very successful with the 4 hour charts, I tried 1 hour but like you, I prefer 4 hour.

Back-testing is the best way to get confident in trading.

A couple things to note is wait for a candle to closed before exiting because many times the candle will change colour and then pull back.
I only open trades the same times as http://assets.forexfactory.net/nfs/c...tar69907_2.gif eelfranz did! GMT 6am, 10am, and 2pm! There earlier the better.
I also have my 6 pairs in front of me at all time and if I see most of them with the same signal it normally a very good one!

It can also help with fakeys because if one of my pairs is spiking up but the others are not I stay out.

I most of the time put my stops at break-even after 50 or so pips but all depending on PA and momentum.

Best of luck and looking forward to your charts.
Give yourself a chance and trade it like it's layed out...
  • #27,878
  • Nov 28, 2013 10:04am Nov 28, 2013 10:04am
Quoting emmanuel7788
{quote} Good trade! I stay on the buyer side for now... holding my stop at 136.31 now. 138.00 is obvious psych level and with a historical 138.13 being tested, there is no other historical resistance above except RN play . The way up to 139. 21 is looking good and I manage the downside and let it run up.
Thank you for your ongoing support and valuable insight of the market Emmanual
If you're going through hell, keep going. Winston Churchill
  • #27,879
  • Nov 28, 2013 10:27am Nov 28, 2013 10:27am
Quoting blamshakk
hi manoj that looks like a nice channel indicator, can you share it please? {quote}
Hi blamshakk,

It is tma indicator. I will post it once i will at computer.

Thanks
Manoj
  • #27,880
  • Nov 28, 2013 11:24am Nov 28, 2013 11:24am
I lost my internet connection last night before TOK open, only came back by this morning
so could not trade anything.
but ej had a nice setup, Mastercandle followed by 4 inside bars, my entry would've been at the greenline
at the break of IBs, other possible entry at the break of the mastercandle -and pullback to 10ema.
Attached Image (click to enlarge)
Click to Enlarge Name: Greenshot_2013-11-28_12-08-13ejH1.png Size: 31 KB
If you're going through hell, keep going. Winston Churchill
50 traders viewing now