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Trading Made Simple

  • #28,561
  • Jan 3, 2014 12:11am Jan 3, 2014 12:11am
Quoting Phx62
First trade of the new year..... EJ H1. This trade was not taken entirely by TMS rules. Because price has been ranging during the holidays, I waited for price to break below the low of the London Open candle before entering. I entered a little more than 3 hours following LO, even though the cross of green over red had occurred at LO. I entered with a 40 pip SL and 40 pip TP, expecting a small trade based on the ADR. However, price moved very strongly down. Not only did the H1 candles all close red but all the M15 candles also closed red, indicating...
Dear Phx62,

What type of Price action inspired you to take counter trend trade as EJ is in Up trend ?

Thanks
Manoj
  • #28,562
  • Edited 1:34am Jan 3, 2014 12:53am | Edited 1:34am
Quoting Phx62
{quote} Cigarguy, My SL and TP are 1 to 1 ratio (ie. 50 pip EMERGENCY SL & 50 pip TP) and then adjusted as the trade progresses. Indicators draw yesterdays high & low, the most recent 4 hour high and low, last weeks and last months high and low. The indicator on my chart gives me the ADR for today, yesterday, 5 day ave, 10 day ave, 20 day ave.. Over the weekend, I move to the daily chart and draw my own S&R lines based on 'sore thumb" highs and lows in the area. I also look at the weekly and monthly charts for nearby S&R. I use fibs just to find...

Phx62, I appreciate and respect your methodology and need to get inside of your head sometimes to help me to trade and have the patience to stay with these longer T/F's. As I posted above, I have scalped quick trades on small T/F's for so many years (started learning with Peter Bains in about 2005 pivot trading and scalping) I have to get my head around looking at the charts with a totally different prospective, hence appreciative of your posts and insights. I have read through this entire thread and PDF's but appreciate your live trading posts and strategies. Your posts, Emmanuel7788 and many others here, offer great insights into learning and trading a very lucrative system. I am sure that Big E is looking down with a smile and grateful for the longevity of this great thread and his hard work.

I guess I'm getting to old for the stress that goes with low T/F scalping.... I look at my 1hr chart setups now and have to check to be sure they are updating, not watching ticks and minutes fly by. It's like going through rehab dumping the adrenaline rush.....lol

Are you posting bar charts for learning/training purposes or do you trade with them in lieu of candles and if so other than the obvious master candles, reversals and such, what are you looking for on your hour charts?

Hopefully once I master hour trading I will be able to move into the pure TMS 4 Hr. Charts....

Thanks again for your great posts I see why you are referred to as The Professor! Please KEEP THE CHARTS AND YOUR RATIONAL COMING!

Regards A Grateful,
Cigarguy
Keep It Simple
  • #28,563
  • Jan 3, 2014 1:06am Jan 3, 2014 1:06am
Quoting Phx62
Picked up another quick 50 pips this evening.....done for the week. {image}
inspiring as usual phx62. But this time, Im completely stumped. How did you do this one?
  • #28,564
  • Jan 3, 2014 1:21am Jan 3, 2014 1:21am
PHX62

i have one more question although a little of beat.....

when do you actually sleep ???
  • #28,565
  • Jan 3, 2014 1:27am Jan 3, 2014 1:27am
Quoting tenmilewalk
{quote} inspiring as usual phx62. But this time, Im completely stumped. How did you do this one?
If you mean his second trade, what is so puzzling to you with this trade? Its pretty straight forward. there was a pullback and then a resumption of the downtrend, tdi crossed at the beginning of the candle he entered on. I took the same trade.
  • #28,566
  • Jan 3, 2014 1:34am Jan 3, 2014 1:34am
Quoting cigarguy
{quote} Are you posting bar charts for learning/training purposes or do you trade with them in lieu of candles and if so other than the obvious master candles, reversals and such, what are you looking for on your hour charts? I am not clear on your entry on the above posted Eur/Jpy chart. Maybe you would explain more in detail why you took that entry! Hopefully once I master hour trading I will be able to move into the pure TMS 4 Hr. Charts.... Thanks again for your great posts I see why you are referred to as The Professor! Please KEEP...
He uses bar charts with synergy_apb candles attached when he trades the same as when he posts.
  • #28,567
  • Jan 3, 2014 1:37am Jan 3, 2014 1:37am
Quoting lastingwell
{quote} He uses bar charts with synergy_apb candles attached when he trades the same as when he posts.
Lastingwell, ok, I see now. Need to wear my glasses, my mistake. His candles appeared small to me like bars.

Thanks!

Regards,
Cigarguy
Keep It Simple
  • #28,568
  • Edited 2:24am Jan 3, 2014 1:39am | Edited 2:24am
Quoting tenmilewalk
{quote} inspiring as usual phx62. But this time, Im completely stumped. How did you do this one?
tenmilewalk:

He is so full of confidence that he is fearless when he excutes those H1 trades. ... UNCONSCIOUS COMPETENCE.

EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #28,569
  • Jan 3, 2014 1:50am Jan 3, 2014 1:50am
Quoting lastingwell
{quote} If you mean his second trade, what is so puzzling to you with this trade? Its pretty straight forward. there was a pullback and then a resumption of the downtrend, tdi crossed at the beginning of the candle he entered on. I took the same trade.
Sorry didn't upload the charts.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: eurjpymh1.png Size: 24 KB
  • #28,570
  • Jan 3, 2014 1:53am Jan 3, 2014 1:53am
Quoting Erol
{quote} Hi Emmanuel, First TMS puzzle of 2014 :-) Glad your back! Firstly we see should view consolidation as a potential for the market to breakout of consolidation. A few months back you pointed us in a direction that showed us how to look for consolidation...the Master Candle or WRB....one of the three market types in TMS (1. Trending, 2. Narrow Range Consolidation, 3. Wide Range Consolidation). By now we should all be of the belief TMS works well in a trending market and just like we have a plan to trade this market type we also need to believe...

Erol:

While I have time this week and also next week, I can share some chartist view. After 13 Jan, it will be back to live trading room and cannot promise I will have so much time for this forum.

You are a great help here compiling those references to help others here. Keep up the good work.

Price action trading using Candlesticks patterns is one good way especially when we use them with the TDI and APB/HA.
Now that we have seen how to identify consolidation with MC, IB, etc.
Next, we should learn a few Reversal Candlesticks and Chart patterns to help us look for those high probability setups.

Good Trading!

EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #28,571
  • Jan 3, 2014 2:05am Jan 3, 2014 2:05am
<quote>:
... so you think its important even on 4HR to let the current bars break current support/resistance before buying/selling even with TDI signal?
<unquote>

Above is a frequent question I get asked in PM.

Folks, please participate and share what your views are to that question above.

regards,
EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #28,572
  • Jan 3, 2014 2:17am Jan 3, 2014 2:17am
Enter in same trade as phx62 E/J. But my Entry was late and end up only with 4 pips. I guess some time it is educational to post wrong entries and losing trades. Please comment?
Attached Image (click to enlarge)
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  • #28,573
  • Jan 3, 2014 2:19am Jan 3, 2014 2:19am
Quoting manoj_3986
{quote} Dear Phx62, What type of Price action inspired you to take counter trend trade as EJ is in Up trend ? Thanks Manoj
Although there is an uptrend, if you look at the weekly chart there is a valid channel that we hit the top of Christmas week, which the weekly candle failed to close above. Looking at H4 there was a double top inside the master candle made by its reach for the trendline, there is a high probability to be a good reaction.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurjpymweekly.png Size: 25 KB
Click to Enlarge Name: eurjpymh4.png Size: 25 KB
  • #28,574
  • Jan 3, 2014 2:37am Jan 3, 2014 2:37am
Quoting hoperich
Enter in same trade as phx62 E/J. But my Entry was late and end up only with 4 pips. I guess some time it is educational to post wrong entries and losing trades. Please comment? {image}
I don't know if it will help but how I look at it is, is there enough room between where the trade should be taken and the support to be able to move to breakeven if necessary. There was roughly 20 pips which is enough for me to move it so worth taking the chance.

Edit: Looking at your trade again, was there not 50 pips you could have taken?
  • #28,575
  • Jan 3, 2014 2:58am Jan 3, 2014 2:58am
Quoting lastingwell
{quote} Although there is an uptrend, if you look at the weekly chart there is a valid channel that we hit the top of Christmas week, which the weekly candle failed to close above. Looking at H4 there was a double top inside the master candle made by its reach for the trendline, there is a high probability to be a good reaction. {image} {image}
Thank you very much lastingwell.
  • #28,576
  • Jan 3, 2014 3:03am Jan 3, 2014 3:03am
Quoting lastingwell
{quote} If you mean his second trade, what is so puzzling to you with this trade? Its pretty straight forward. there was a pullback and then a resumption of the downtrend, tdi crossed at the beginning of the candle he entered on. I took the same trade.
thanks
  • #28,577
  • Jan 3, 2014 4:07am Jan 3, 2014 4:07am
AUDUSD h1 trade this morning 47 pip.Take profit change 50 to 100 didn't hit & EA closed the trade while I was Sleeping.
Tanks PHX62,I changed my EA setting according to your PDF IV.
Pls see attached image & advise my setting are correct or not. because trade go on my side 73 pip & then rivers In that time EA close the trade.
but trade go still on my side.. So Pls advise if there is anything to improve..
Attached Image(s) (click to enlarge)
Click to Enlarge Name: AUDUSD.jpg Size: 220 KB
Click to Enlarge Name: ea 1.jpg Size: 58 KB
Helanka
  • #28,578
  • Jan 3, 2014 4:20am Jan 3, 2014 4:20am
Quoting emmanuel7788
{quote} Helanka: Use either of these APB or HA indicators. It will allow you to change its properties and retain the values. The other one you posted was hard coded. regards, EMMANUEL {file} {file}
Thanks Emmanuel, I have been looking for the APB mq4
Give yourself a chance and trade it like it's layed out...
  • #28,579
  • Jan 3, 2014 4:30am Jan 3, 2014 4:30am
Quoting lastingwell
{quote} Sorry didn't upload the charts. {image} {image}
Great trading, well done!
Give yourself a chance and trade it like it's layed out...
  • #28,580
  • Edited 5:21am Jan 3, 2014 4:36am | Edited 5:21am
Quick scalp GU +7.4 time to sleep.....still attempting to sit on my hands. Old habits hard to break

Gotta love that 200 ema dynamic s/r. Can't show entries/exits live trades on another ECN platform.

Update Chart Below; Synergy Trade Alert popped up after my scalp. Forgot I had it on the chart for testing last week.

Regards,
Cigarguy
Attached Image(s) (click to enlarge)
Click to Enlarge Name: ScreenHunter_01 Jan. 03 03.31.gif Size: 46 KB
Click to Enlarge Name: ScreenHunter_02 Jan. 03 04.14.gif Size: 51 KB
Keep It Simple
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