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Trading Made Simple

  • #27,961
  • Dec 2, 2013 10:51am Dec 2, 2013 10:51am
Quoting Mark up
{quote} Thanks for the info WDays, Yes, I understand. My broker starts there day at 08:00 local time. My first H4 candle is finished painting at 12 noon local time. So yes It must be a broker related issue. thanks for your info its great. cheers markup
You're very welcome, hope it helps
  • #27,962
  • Dec 2, 2013 3:17pm Dec 2, 2013 3:17pm
Quoting Bizzzle
{quote} Nice trading mate keep it up P.s careful putting stops to brerak-even too early best of luck
Thanks mate - and yeah your advice makes sense, 20 pips of room is too tight for H4. These days I saw some moves go -30 and then into +50 or so
  • #27,963
  • Dec 2, 2013 4:42pm Dec 2, 2013 4:42pm
Quoting Lane
{quote} Thanks mate - and yeah your advice makes sense, 20 pips of room is too tight for H4. These days I saw some moves go -30 and then into +50 or so
Lane check out post 24231 this should help
  • #27,964
  • Dec 2, 2013 4:47pm Dec 2, 2013 4:47pm
Quoting emmanuel7788
{quote} .....Following up next week 49, we should be looking closely at the price action around 1.6411 and 1.6453, these can be potential reaction levels where counter trend trades can turn into reversal. Look at Day candles for early reversal signs. Trade Well. regards, EMMANUEL Edit: add chart {image}
Attached Image (click to enlarge)
Click to Enlarge Name: GU MN view week 48.png Size: 57 KB


today' US PMI help.

at 1.6411, there was a nice H4 setup. Did anyone catch that?

Now we wait for D1 to close to see if we get an early reversal condition.

Wed is UK GBP tier one data release and also more US data this week. This will be GU trading week.

Trade Well.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #27,965
  • Dec 2, 2013 4:54pm Dec 2, 2013 4:54pm
Quoting WDays
{quote} I'm sorry, I didn't quite understand the bit where you target 10% profit cycle every 20 trading days. Would you be so kind as to elaborate a little on that? I'm having a hard time keeping track of my results for a period of time, because as you said market isn't always ideal, there's bank holidays etc. I'm working on formulating a plan and establishing a target... but it's hard to make it a realistic one because theoretically we live in a perfect world so to speak. Thank you in advance.

WDays,

I use the Percent Risk Model and R-Multiple Money Management with Position Sizing.
Keep track of trade results in terms of the risk R and not in terms of pips.
If I risk 1% per trade and with a win rate of 55% and Expectancy of 2.3, you can work out the number of trades to reach positive 10%.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #27,966
  • Dec 2, 2013 4:54pm Dec 2, 2013 4:54pm
Quoting Bizzzle
{quote} Trade update: Added to my EU and GU as said and also long EJ and GJ. Good luck {image}
Closed My EJ and GJ trades:

EJ - 185 pips
GJ - 400 pips
Attached Image (click to enlarge)
Click to Enlarge Name: Jpy 2nd.png Size: 54 KB
Give yourself a chance and trade it like it's layed out...
  • #27,967
  • Dec 2, 2013 4:59pm Dec 2, 2013 4:59pm
Quoting emmanuel7788
{quote} {image} today' US PMI help. at 1.6411, there was a nice H4 setup. Did anyone catch that? Now we wait for D1 to close to see if we get an early reversal condition. Wed is UK GBP tier one data release and also more US data this week. This will be GU trading week. Trade Well.
Looked like a nice Bearish inside bar to me :-)
  • #27,968
  • Dec 2, 2013 5:00pm Dec 2, 2013 5:00pm
Quoting blamshakk
hi emmanuel many thanks for the advice and the PDF...your help here is invaluable. do you mean by the 12-2 and 4-6 rule that if PA looks good and green TDI is above/below the signal line at those angles then that can be considered a TMS trade? thanks {quote}
blamshakk,

the TDI 12-2 an 4-6 condition is TMS setup condition.
look at the price action and you will see how the TDI will confiirm these type of condition.
but do not chase long wide range bar WRB because these often will show in the TDI as 12-2 or 4-6.
today' EU H4 is a good example of a 4-6 TDI but that price bar was huge 82pips range. Never jump into the market after such huge WRB. wait for consolidation after a WRB. Post#261.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #27,969
  • Dec 2, 2013 5:03pm Dec 2, 2013 5:03pm
Quoting Erol
{quote} Looked like a nice Bearish inside bar to me :-)
I am still bullish longer term!
Attached Image (click to enlarge)
Click to Enlarge Name: Gu long term weekly.png Size: 72 KB
Give yourself a chance and trade it like it's layed out...
  • #27,970
  • Edited 5:16pm Dec 2, 2013 5:04pm | Edited 5:16pm
Quoting fxFox.mb
{quote} Phx62, thank you for showing how you managed the sideways action on EURJPY last week. Up to now I traded TMS on D1 and now try to apply your approach (as I understood up to now) on H1. I am working furthermore on your pdfs and have tried to transfer this last week on the EJ, but had (like you) problems to target the 50 pips especially the first days of the week, where the max. moves were about 25 - 30 pips after an entry. I am interested in how you decide, when you move your focus from the original target of 50 pips to a reduced target -...
As I have taken this journey learning to trade the Forex market, I have spent hundreds of hours back testing, live testing, reading trading methods, taking webinars, studying charts, learning price action, learning candle patterns, trying indicators and fibs, trying naked charts, testing M5, M15, H1, H4 and even daily charts....reading, studying, learning from many different traders...Money Duck, Dean Malone, Lawgirl, Islander, Ty Young, Craig Harris, Big E, dcgnic, X-Man, Vantage, Jason Stapleton, Rob Booker, Emmanuel, Snarly Jack, dee50....and the list could go on. I have had to learn money management, entries and exits, where to place stop losses and take profits, how the TDI works with price action, candle patterns and candle movements, when to trade with news and when to stay away, where to place stop losses and take profits, how to use the ADR to determine profits, etc.....all things that each of you are also working to learn and apply into your trading.
Now that I have had some success with trading, I get lots of questions about "how did you know where to enter?", "how did you know that cross of the TDI would go 50 or 100 pips?', "what made you believe this or that would happen?", why did you trade against the 200EMA or a certain resistance area?", how do "you decide, when you move your focus from the original target of 50 pips to a reduced target - to rescue the pips before they were melted away"?, etc. The answer to those questions is.....I did not know!! I don't have a crystal ball to predict anything about the market and anyone who says they do is not telling the truth.
I can only say, I developed a trading plan with a number scenarios based on the premise of IF...THEN. IF this happens, THEN I will do that. Example: IF this certain candle pattern occurs and candle #1 changes to blue and the TDI moved up or crosses red or yellow or the 50 line, THEN I will enter when price breaks above the high of the previous candle. Sometimes that works and sometimes it does not work but I have refined it to the point that it works most of the time. When I make an entry, I do NOT know if it is going to move 20 pips, or 50 pips or 100 pips.....I just know that based on what I have learned over the years, I have developed a scenario in my trading plan that addresses that situation and I am willing to risk some money on an entry there. I also use the trading plan for exits....IF this happens, THEN I will do that.
In answer to your question about getting out, sometimes it is based on how many pips I will let it pull back before keeping some of them, sometimes it is based on a CLOSED candle of a different color and sometimes I am willing to let price run back to BE or a SL moved up above BE, on the chance the pullback is temporary and will continue to TP. If the TDI is hanging around the 50 line, it tells me that price is consolidating and I will only enter small scalp trades.
As far as learning the H4, I have developed my trading plan for H1 on EU pairs to the point that I now want to expand into H4. M15 has too many whipsaws and reversals so I seldom trade that time frame. Many have had success with H4, so I want to see how that time frame works for me. I tried it once before but it was too slow for me. Since then, I have learned to be more patient and maybe the H4 is something I can use. I would like to develop a plan that allows me to enter on the H1 and stay in the trade longer on the H4.
Sorry for the rant......just trying to explain how I see the market.
  • #27,971
  • Dec 2, 2013 5:04pm Dec 2, 2013 5:04pm
Quoting Erol
{quote} Looked like a nice Bearish inside bar to me :-)
on H4 we see a 3-bar reversal at 1.6411.

but D1 still not close, but that will likely be a Pin Bar close at 1.6411, ... but no TDI cross. So we may have to wait another D or use LTF entry later.

It can be a case to build positions instead of a full risk trade entry.

sorry no chart now ... using my holiday computer. Android MT4 chart sucks!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #27,972
  • Dec 2, 2013 5:09pm Dec 2, 2013 5:09pm
Quoting Bizzzle
{quote} I am still bullish longer term! {image}

yes, long term bull potential 1.6700 as target and bumpy ride up.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #27,973
  • Dec 2, 2013 5:16pm Dec 2, 2013 5:16pm
Quoting Mark up
{quote} {image}

I suggest you switch to Bar Chart and you will also see the real price OHLC on the APB/HA.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #27,974
  • Dec 2, 2013 5:24pm Dec 2, 2013 5:24pm
I'm closed for vacation.
It is cold up north in Italy ... but I love the Italian Alps.
Will try login occassionally and see how you folks are trading in the coming weeks with market low liquidity.

Season's Greetings and Happy Holidays Folks.

Attached Image
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #27,975
  • Dec 2, 2013 5:29pm Dec 2, 2013 5:29pm
Enjoy your time off!

Thanks for all your support through the year.



Quoting emmanuel7788
I'm closed for vacation. It is cold up north in Italy ... but I love the Italian Alps. Will try login occassionally and see how you folks are trading in the coming weeks with market low liquidity. Season's Greetings and Happy Holidays Folks. {image}
  • #27,976
  • Dec 2, 2013 5:36pm Dec 2, 2013 5:36pm
Quoting Bizzzle
{quote} Mine is the 5ema shifted 2 on close! Hope that helps

Hello Bizzzle,

Thanks for you help. Its very good to see other trades wanting to help.

cheers

Markup
Make sure that the light at the end of the tunnel is not an on coming train
  • #27,977
  • Dec 2, 2013 5:42pm Dec 2, 2013 5:42pm
Quoting Bizzzle
{quote} I am still bullish longer term! {image}
Thanks Bizzzle, bullish myself as per the weekly trend. Just saw the IB for a possible 1.5R counter trend trade (Plan B).

Attached Image (click to enlarge)
Click to Enlarge Name: Bearish_Inside_Bar_Example.png Size: 45 KB
  • #27,978
  • Dec 2, 2013 5:54pm Dec 2, 2013 5:54pm
Quoting emmanuel7788
I'm closed for vacation. It is cold up north in Italy ... but I love the Italian Alps. Will try login occassionally and see how you folks are trading in the coming weeks with market low liquidity. Season's Greetings and Happy Holidays Folks. {image}
I have learned from you and others in this forum in the last the last five months.
Have a grate holiday --you and your family,
thanks very much
  • #27,979
  • Dec 2, 2013 8:26pm Dec 2, 2013 8:26pm
Quoting emmanuel7788
XAUUSD - where will GOLD head to next? {image}
Attached Image


price hit 1218.72 yesterday.

many GOLD D traders must be happy with an early year-end bonus and X'Mas.

now we should be seeing how the price action will be to break lower and aim for that MN support 1180.

Trade Well.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #27,980
  • Dec 3, 2013 12:08am Dec 3, 2013 12:08am
Quoting Bizzzle
Eu- Out at Break-even and two half positions: +30 pips +88 pips Still holding EJ and GJ longs! {image}
hi my friend

can you explane your enters?

regards
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