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  • #28,101
  • Dec 10, 2013 2:25am Dec 10, 2013 2:25am
Quoting Oldie
{quote} Hi WDays: Thanks for your input. What am I NOT doing that is so incorrect - I am still not getting it. Thanks Oldie
Okay, take a step back - zoom out of your chart and tell me what you see..
  • #28,102
  • Dec 10, 2013 2:52am Dec 10, 2013 2:52am
Quoting WDays
{quote} Okay, take a step back - zoom out of your chart and tell me what you see..
OK - price trending strongly UP then, then smaller bullish candle, then Doji indicating indecision, ( I have been taught that price will GENERALLY follow the next candle) then bearish candle with Green TDI pointing down from 689 level, Stochs. pointing down from 80 level.
5 EMA still up but it always lags. Cheers Oldie
  • #28,103
  • Dec 10, 2013 2:53am Dec 10, 2013 2:53am
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.
Oldie,
If you take a full screen look at your chart you will see the pair has been in a concerted downtrend and still making LL's. You now have a HL (2 candles ago). Present candle has now changed colour and if it closes that way you have an entry
(Bounce trade). Stoch also in alignment.
Hope this helps.
Greg
  • #28,104
  • Dec 10, 2013 3:07am Dec 10, 2013 3:07am
Did anyone take the EU, EJ and GU 1 hour short signals at London open? EJ and GU looking ok and EU after retracing is now heading down.
I did not take these trade signals, but as mentioned in an earlier post I am taking entries off the 15 min chart until I become completely familiar with the system. Have already closed EJ for 30 pips, still open on others.
  • #28,105
  • Dec 10, 2013 3:09am Dec 10, 2013 3:09am
Quoting gregben
{quote} Oldie, If you take a full screen look at your chart you will see the pair has been in a concerted downtrend and still making LL's. You now have a HL (2 candles ago). Present candle has now changed colour and if it closes that way you have an entry (Bounce trade). Stoch also in alignment. Hope this helps. Greg

Hi Greg: You CAN'T be referring to the NZDJPY? Cheers Oldie
  • #28,106
  • Dec 10, 2013 3:15am Dec 10, 2013 3:15am
Quoting Oldie
{quote} Hi Greg: You CAN'T be referring to the NZDJPY? Cheers Oldie
You are right, I clicked on AudNzd by mistake. Will look at NzdJpy. Sorry for my error.
  • #28,107
  • Dec 10, 2013 3:15am Dec 10, 2013 3:15am
Quoting Oldie
{quote} OK - price trending strongly UP then, then smaller bullish candle, then Doji indicating indecision, ( I have been taught that price will GENERALLY follow the next candle) then bearish candle with Green TDI pointing down from 689 level, Stochs. pointing down from 80 level. 5 EMA still up but it always lags. Cheers Oldie
This might help:

1) LHs, LLs indicative of a downtrend, quite obvious why you shouldnt long.
what you could do however, is wait for a 123, in other words, for price to stop making lower highs and lows and wait for a PA signal to confirm reversal

2) Once again, price rallied, made a higher high and low, took a breather and shot up again.
notice how price took 14 bars to move 50 pips lower and it only took 4 to move 150~ pips higher

3) You have a 100 pipper intraday move, surely there is some reason price moved so much, it won't just reverse out of nowhere

4) pretty self-explanatory, you just wont see a reversal after a drop like that, how much is that, 300 pips?

What you can hope for, is either the 123 pattern or to score pips on a correction via an H1 setup.
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  • #28,108
  • Dec 10, 2013 3:30am Dec 10, 2013 3:30am
Oldie,
Similar to my previous post in reverse. Strong upward trend and where you entered price retraced back up from the 5 ema which was still pointing strongly north. Another thing I look at, although it is not in the rules is the direction of the Red TDI. At the time of entry it was still pointing up. Although new to the system, I have noticed that you also need to see the Red flatten or turn before taking a trade in the opposite direction. Backtest to see what I mean
The present candle when it closes may give you an entry, as you have a red candle and price has broken below the 5 ema.
I also have a 10 ema on my chart, and the present low of the candle stopped right on the 10, so be careful. You also now have a LH.
I posted a few charts this morning showing my chart setup. My macd has not yet rolled and crossed, so I would be uneasy taking a short.
greg
  • #28,109
  • Dec 10, 2013 3:37am Dec 10, 2013 3:37am
Quoting WDays
{quote} This might help: 1) LHs, LLs indicative of a downtrend, quite obvious why you shouldnt long. what you could do however, is wait for a 123, in other words, for price to stop making lower highs and lows and wait for a PA signal to confirm reversal 2) Once again, price rallied, made a higher high and low, took a breather and shot up again. notice how price took 14 bars to move 50 pips lower and it only took 4 to move 150~ pips higher 3) You have a 100 pipper intraday move, surely there is some reason price moved so much, it won't just reverse...
Thanks for all that WDays - I'm feeling like a real dumb bum at the moment waiting for the light bulb to go off. I read you as saying trade WITH the trend but how do you tie that in with entering one the 1st or 2nd. candle? I will study the reply & the detail on the charts you worked on & see if I can't pick it up from there. Cheers Oldie
  • #28,110
  • Dec 10, 2013 3:40am Dec 10, 2013 3:40am
Quoting gregben
Oldie, Similar to my previous post in reverse. Strong upward trend and where you entered price retraced back up from the 5 ema which was still pointing strongly north. Another thing I look at, although it is not in the rules is the direction of the Red TDI. At the time of entry it was still pointing up. Although new to the system, I have noticed that you also need to see the Red flatten or turn before taking a trade in the opposite direction. Backtest to see what I mean The present candle when it closes may give you an entry, as you have a red candle...

Thanks Gregben for your contribution - I will go back to the drawing board. Cheers Oldie
  • #28,111
  • Edited 4:08am Dec 10, 2013 3:47am | Edited 4:08am
Quoting Oldie
{quote} Thanks for all that WDays - I'm feeling like a real dumb bum at the moment waiting for the light bulb to go off. I read you as saying trade WITH the trend but how do you tie that in with entering one the 1st or 2nd. candle? I will study the reply & the detail on the charts you worked on & see if I can't pick it up from there. Cheers Oldie
You're very much welcome Don't feel dumb, it's trading... You can't imagine the number of times it has made me feel like a helpless 8yo who's about to get bullied by the 15yo kids...

Don't focus too much on the rules of a given system, instead think of it this way - all Big E. gave us is a way to time our entries near perfection, to have minimal drawdown and maximum winrate... You still have to bear in mind a lot of the stuff you've read up until now when you decide to actually pull the trigger.

I entered an EJ short which I exited at the beginning of this candle's open for a 8pip loss as per my trade plan/exit conditions. It was strongly CT and risky, but I felt it was worth taking a shot as the TL holding the most recent upmove was broken, TDI had crossed and the MBL was falling from the 68 area (which, according to Dean Malone is indicative of a possible reversal). I was hoping price would at least be retracing, but after 75% of the candle had closed and I still had barely seen profit, I decided it was not going to work out (once again, as per my trade plan and exit criteria).

*Edit* woooops my TL was badly drawn
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  • #28,112
  • Dec 10, 2013 3:48am Dec 10, 2013 3:48am
How can you get into the Skype room - I have emailed Calvin twice now. Cheers Oldie
  • #28,113
  • Dec 10, 2013 3:51am Dec 10, 2013 3:51am
Quoting Oldie
How can you get into the Skype room - I have emailed Calvin twice now. Cheers Oldie
Just add Joe Phippard on skype, saying you want to be part of the group, he'll add you
  • #28,114
  • Dec 10, 2013 3:51am Dec 10, 2013 3:51am
Quoting robuk
{quote} 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
You can make some trades like that but it's riskier. The MBL being roughly the TP (along with a RN). Be watchful how the candles look.
  • #28,115
  • Dec 10, 2013 5:31am Dec 10, 2013 5:31am
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: What is the baseline for the indicator on my chart? I have googled, but NO info.
Cheers Peter
  • #28,116
  • Dec 10, 2013 5:34am Dec 10, 2013 5:34am
Quoting WDays
{quote} Just add Joe Phippard on skype, saying you want to be part of the group, he'll add you
Hi WDays: what do mean by add Joe Phippard on Skype. The only way I know to talk to someone on Skype is to know there Skype address. Cheers Peter
  • #28,117
  • Dec 10, 2013 5:39am Dec 10, 2013 5:39am
Quoting Oldie
{quote} Hi Lastingwell: What is the baseline for the indicator on my chart? I have googled, but NO info. Cheers Peter
The market baseline is the third TDI line seen on most of our charts, just set the 2nd color to something visible and you'll have it on your chart.

Quoting Oldie
{quote} Hi WDays: what do mean by add Joe Phippard on Skype. The only way I know to talk to someone on Skype is to know there Skype address. Cheers Peter

Joe Phippard is his skype ID, search for a contact named Joe Phippard and let him know you're looking to get into the skype chatroom
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  • #28,118
  • Dec 10, 2013 6:16am Dec 10, 2013 6:16am
Quoting WDays
{quote} I entered an EJ short which I exited at the beginning of this candle's open for a 8pip loss as per my trade plan/exit conditions. It was strongly CT and risky, but I felt it was worth taking a shot as the TL holding the most recent upmove was broken, TDI had crossed and the MBL was falling from the 68 area (which, according to Dean Malone is indicative of a possible reversal). I was hoping price would at least be retracing, but after 75% of the candle had closed and I still had barely seen profit, I decided it was not going to work out...
I entered the EJ short on the 8:00 GMT candle, still in at the moment.
  • #28,119
  • Dec 10, 2013 6:32am Dec 10, 2013 6:32am
Quoting lastingwell
{quote} I entered the EJ short on the 8:00 GMT candle, still in at the moment.
In hindsight my entry would have been at 8:00 GMT too, I drew a bad TL which confused me. I was waiting for a break below it to enter, which in turn made me have a very late entry and lots of drawdown.
  • #28,120
  • Dec 10, 2013 6:42am Dec 10, 2013 6:42am
Quoting lastingwell
{quote} I entered the EJ short on the 8:00 GMT candle, still in at the moment.

Hi Lastingwell:
Your trade does not look a great deal of difference to my H4 NZDJPY with the following differences.
NJ had a series of strong bullish candles, then a medium size, then a doji, then a bearish candle-entered on the next 1
H1 EJ large series of minor bullish candles, then a weak bearish, then your trade.
Both pairs were at a high point. What made you choose to enter a trade then? Are you also saying that you want the green TDI to be below the red & blue. Do you place any significance on the position of the red TDI? Do you consider whether the 5 MA is above or below the candle? Cheers oldie
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