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Trading Made Simple

  • #28,081
  • Edited 11:45am Dec 9, 2013 9:04am | Edited 11:45am
Quoting lastingwell
{quote} What looks like an inverted hammer on Goochie's chart isn't actually an inverted hammer in the strictest sense of the term. Because he is using HA/synergy bars (not sure which) it looks like it because the real close price is hidden, BUT there was an inside bar after it and being on former support, a bullish break along with the cross of the tdi would have been (and was) a valid entry.
........ i see TheScorpS point ... and yes i agree lastingwell .... also i would like to add that me personally a perfect pin is very nice but there are many other supporting factors that i consider such as the ones lastingwell highlighted and in the case of the GA trade there was also a slight gap over the weekend that had closed and price had closed above PDL ... etc etc
Steadfastness is held above all success
  • #28,082
  • Edited 10:01am Dec 9, 2013 9:43am | Edited 10:01am
lastingwell , goochie, thanks for your details explanation about these setups, I heard phx62 talk about PRCP but still I might just needs to read phx62 last posts to know more about them, thanks again

I cant even open GBP/AUD and apply my trading template cause it just freezes up, whenever I open high volatility or liquidity market, this is what happens, might be just I need more powerful comp

I have viewed the setup on Jap Candlesticks and I think I see the setup

Managed to open the chart on ninjatrader and this is what I saw, an ABCD completion, first leg retrace to 61.8 the long spike, also there was an entry short following CD leg on the failure of 38.2 fibs, and then as goochie explained the setup which in this case was the completion of the ABCD and the EMA 200
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I Have Learned to Take Some Losses to Make Profits
  • #28,083
  • Dec 9, 2013 1:47pm Dec 9, 2013 1:47pm
Well here are two trades I took this morning. Audjpy hit SL for - 31 and gbpusd +40. I have two others open currently but both are very negative. Due to my job constraints I can only trade the London market every other week so starting tonight I will be trading the London session. These trades were just prior to the NY open. Does anyone trade the NY market with any good results? I know Big E would not bother with it.

Well this is all demo trading right now to get my feet wet. Would appreciate any thoughts on these two trades posted here. Will put up the others when I close them.
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  • #28,084
  • Dec 9, 2013 5:04pm Dec 9, 2013 5:04pm
Quoting Bizzzle
{quote} I see there is alot of talk on TDI and I think what ppl need to wrk on more is Price action!! One of my favorite post above from Munirpt: what defines TDI trend is the MBL. what defines price trend is swing cycles(HH,HL,LL,LH). whenever price trend and TDI trend are in harmony = $$$$$ Good luck
Hi there,

Could you perhaps elaborate more on how the MBL defines the TDI trend?
I seem to struggle a lot in filtering out the bad trades and am missing out the good ones.

Also, though I understand there is no hard and fast rule to things like this, is it more advisable to wait for the stop loss to be taken out at the previous swing high/low or is it more advisable to exit a trade when the TDI flattens out?

Appreciate all your time to explaining things to me.
  • #28,085
  • Dec 9, 2013 5:18pm Dec 9, 2013 5:18pm
Quoting Neon
{quote} Hi there, Could you perhaps elaborate more on how the MBL defines the TDI trend? I seem to struggle a lot in filtering out the bad trades and am missing out the good ones. Also, though I understand there is no hard and fast rule to things like this, is it more advisable to wait for the stop loss to be taken out at the previous swing high/low or is it more advisable to exit a trade when the TDI flattens out? Appreciate all your time to explaining things to me.
Bizzle was quoting Munirpt's post: http://www.forexfactory.com/showthre...34#post7021734 the best thing you can do for yourself is to read that post and study what it says in full and looking at the chart that he attached to it, by doing that you will see exactly what Munirpt was talking about, it will really help a lot.
  • #28,086
  • Dec 9, 2013 5:39pm Dec 9, 2013 5:39pm
Is this a good entry? Just happened at the AUDUSD pair:

http://charts.mql5.com/3/286/audusd-...g-point-of.png
  • #28,087
  • Dec 9, 2013 6:03pm Dec 9, 2013 6:03pm
Hi Fellow Traders,
Let me begin by saying I think the thread should be called “Trading Made Simpler”, because I have found over 8 years of trading that there is nothing simple when it comes to forex.
My trading results are not where I want them to be, and as with most traders I would one day love to be a full time trader. This has resulted in me scanning systems in FF to see if I can gain that necessary edge. Most threads are occupied by morons, throwing insults at each other and not concentrating on trading matters. I tended to try and work out who the better traders were and only read their posts to see if I could find that edge.
This thread appears different, without the insults and a co-operation to help, and it is plain to see that there are many excellent traders here only too happy to assist the novice and less successful traders like myself. I have never been big on posting on threads, but prefer to sit back and digest the knowledge.
That being said, I have been studying this thread for some weeks now and I feel that this may be what I have been searching for. I stopped my live trading (also because I normally have a break from trading at this time of year) and have been reading the posts and practicing the system by marking potential entries and exits on my screen. My results are very encouraging and cannot wait until Jan to again begin trading.
The most difficult part for me is that I have always been a scalper (because of work commitments and limited time to trade and because I preferred to monitor each trade) and it difficult for me to get my head around the 1 and 4 hour time frames and be comfortable with the larger pullbacks that occur with them. Because of this, and to get more trades and become comfortable with the system I am using 15 min charts with reference to the 1 hour chart.
I am comfortable with the rules, HA formation and reading the TDI. I also have on my charts, additional to the normal template, a 10ema (for S and R) and a stochastic overlaid with the macd_complete indicator. I have used it for some time now and have found the macd_ complete to be the best indicator that I have used. Works well on any timeframe but must be used live. When backtesting the pattern remains the same but the levels up and down will change.
Below are charts from the GU last evening (I am from Australia) that show a couple of entries and exits with comments as to my thoughts. The 15 min has 2 trades, but the 1 hour would have kept me in the trade, with potential for more upward movement.
Please feel free to comment as I am here to learn.
Kind regards to all, merry Xmas and a profitable New Year,

Greg
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  • #28,088
  • Dec 9, 2013 6:21pm Dec 9, 2013 6:21pm
Quoting lastingwell
{quote} Bizzle was quoting Munirpt's post: http://www.forexfactory.com/showthre...34#post7021734 the best thing you can do for yourself is to read that post and study what it says in full and looking at the chart that he attached to it, by doing that you will see exactly what Munirpt was talking about, it will really help a lot.
Ah that's brilliant. Appreciate it!
  • #28,089
  • Dec 9, 2013 6:50pm Dec 9, 2013 6:50pm
Would someone care to look @ the following trades & point out where I am going wrong - I cannot get any winning trades!! I live in Western Aust. GMT +8
I am using Axi Aust. MT4 GMT +2. The trades are all H4. The Green TDI are all pointing in the correct direction & close to 68 or 32. Stochs. are also pointing in the correct direction & close to 80 or 20. When I am awake I will manaully close trades ( SL is set in case I miss) or allow the market to take me out on the SL.
The 1st 3 trades were taken Mon. 09/12/13 @ 1400hrs GMT & the last 1 Mon. 09/12/13 @1000hrs GMT.
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  • #28,090
  • Dec 9, 2013 7:39pm Dec 9, 2013 7:39pm
Hi Oldie,
It looks to me that you are counter trend trading and this is a low percentage way of trading.

Cheers
Lpp
I would like to die on Mars. Just not on impact..... Elon Musk
  • #28,091
  • Dec 9, 2013 8:10pm Dec 9, 2013 8:10pm
Hi again,

I was wondering if I was right in looking at the HH and HL in this case?
Would that then make this a good trade?

Thank you all for always taking the time to reply!
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  • #28,092
  • Dec 9, 2013 9:18pm Dec 9, 2013 9:18pm
Quoting munirpt
{quote} Hi guys, I will be away for some time due to a minor accident that left my hands with plaster and some fractures. i can trade but its not easy to write. i felt this question was so important that i couldnt let it pass due to its importance: emmanuele, thanks for being around. this is how i see it: A - price made LL (trend down) - TDI crossed up, but below MBL (not strong signal) B - price made LH (trend down) - TDI crossed down, but above MBL (not a strong signal) C - price made HL (trend up) - TDI crossed up, above MBL (strong signal) what...

Hi Munirpt
Thanks for your explanation , looks spot on to me , but I do think our dear BIG E would have made some (maybe small )profit from A and B also , from what I have gathered from his teachings
I very much hope you will soon be well and fighting fit again
  • #28,093
  • Dec 9, 2013 9:43pm Dec 9, 2013 9:43pm
Quoting lpp
Hi Oldie, It looks to me that you are counter trend trading and this is a low percentage way of trading. Cheers Lpp

Hi Ipp: I have spent hours & hours reading/studying this system & basically I understand that you trade with the NEW trend which would be CCT. Enter trade when Green TDI crosses over Red TDI with a NEW candle & with Stoch. pointing in the same direction & with price not up against resistance for a buy etc. I realise that you can also trade WITH the trend off a bounce. Cheers Oldie
  • #28,094
  • Dec 9, 2013 11:09pm Dec 9, 2013 11:09pm
Hi Oldie,

I like to use the shifted ma as a filter,The NZDJPY never closed below the ma and I'm guessing you sold the open of the new 4hr candle. I also drop back to an hourly time frame to see what is happening as the hourly bars will show the loss of momentum. As you will see there was a scalp on the hourly but no entry using the ma as a filter on the 4 hour bar. The trouble is the market doesn't know what it's supposed to do when lines cross ;-)

Cheers
Lpp
I would like to die on Mars. Just not on impact..... Elon Musk
  • #28,095
  • Dec 10, 2013 12:10am Dec 10, 2013 12:10am
Quoting lpp
Hi Oldie, I like to use the shifted ma as a filter,The NZDJPY never closed below the ma and I'm guessing you sold the open of the new 4hr candle. I also drop back to an hourly time frame to see what is happening as the hourly bars will show the loss of momentum. As you will see there was a scalp on the hourly but no entry using the ma as a filter on the 4 hour bar. The trouble is the market doesn't know what it's supposed to do when lines cross ;-) Cheers Lpp
Hi. I.pp The red vertical line points out where I entered the trade which in the case of the NZDJPY pair it was on the 2nd. candle open - the 1st being bearish anyway. Big E rules state that the aggressive rule is to enter as soon as Green crosses & closes over Red WITHOUT price having crossed over the 5 EMA.
  • #28,096
  • Dec 10, 2013 1:28am Dec 10, 2013 1:28am
Quoting Oldie
Would someone care to look @ the following trades & point out where I am going wrong - I cannot get any winning trades!! I live in Western Aust. GMT +8 I am using Axi Aust. MT4 GMT +2. The trades are all H4. The Green TDI are all pointing in the correct direction & close to 68 or 32. Stochs. are also pointing in the correct direction & close to 80 or 20. When I am awake I will manaully close trades ( SL is set in case I miss) or allow the market to take me out on the SL. The 1st 3 trades were taken Mon. 09/12/13 @ 1400hrs GMT & the last 1 Mon. 09/12/13...
You are either buying into a seller's market, or selling into a buyer's market. You trade price pullbacks, which is dangerous and risky, what's more you treat them like reversals just because there is a TDI cross and stoch are headed your way. You need to keep track of where price is going, because in the end forex isn't about what angle the TDI crossed or if the stoch are OB or OS, those just help you time your entry Hope that helps.
  • #28,097
  • Dec 10, 2013 1:29am Dec 10, 2013 1:29am
Quoting Oldie
{quote} Hi Ipp: I have spent hours & hours reading/studying this system & basically I understand that you trade with the NEW trend which would be CCT. Enter trade when Green TDI crosses over Red TDI with a NEW candle & with Stoch. pointing in the same direction & with price not up against resistance for a buy etc. I realise that you can also trade WITH the trend off a bounce. Cheers Oldie
That is not 100% true, see the 2nd part of my previous comment. TMS isn't a mechanical system, it is a discretionary one. This means you cannot just take any cross and expect to win big.
  • #28,098
  • Dec 10, 2013 1:53am Dec 10, 2013 1:53am
Quoting Oldie
{quote} Hi. I.pp The red vertical line points out where I entered the trade which in the case of the NZDJPY pair it was on the 2nd. candle open - the 1st being bearish anyway. Big E rules state that the aggressive rule is to enter as soon as Green crosses & closes over Red WITHOUT price having crossed over the 5 EMA.
I would also suggest you put the market baseline in the indicator on your chart, don't take any trades that are not above/below the mbl. In the case of aud/nzd trade....it hasn't lost yet
  • #28,099
  • Dec 10, 2013 2:17am Dec 10, 2013 2:17am
Quoting WDays
{quote} That is not 100% true, see the 2nd part of my previous comment. TMS isn't a mechanical system, it is a discretionary one. This means you cannot just take any cross and expect to win big.

Hi WDays: Thanks for your input. What am I NOT doing that is so incorrect - I am still not getting it.
Thanks Oldie
  • #28,100
  • Dec 10, 2013 2:19am Dec 10, 2013 2:19am
Quoting lastingwell
{quote} I would also suggest you put the market baseline in the indicator on your chart, don't take any trades that are not above/below the mbl. In the case of aud/nzd trade....it hasn't lost yet
Hi Lastingwell: Thanks for your input as well. I have not heard of the MBL - what is it etc.??
I actually closed the audnzd for a small loss when the Green TDI turned back, Thanks Oldie
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