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Trading Made Simple the right way, and other trading lessons 233 replies

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Trading Made Simple

Back from Xmas-holiday-time my best wishes to all participants and readers of the thread. Have a happy New Year with healthiness and personal luck.
The latter is important as you can see i.e. that Michael Schuhmacher was certainly healthy but had no luck in his accident.
fxFox (all times in my charts are GMT+1)
Quoting emmanuel7788
{quote} Hi ALL: Picking up from the last time I left off before Xmas, GOLD did make an attempt at 1180.........
Hi emmanuel7788,

thanks for all your comments and efforts in this thread. Processing the last 20 pages after holiday time I stumbled over one of your gold charts.
My question (it is not a really new question) is about the divergence on your H4 chart - please excuse - I modified your chart a little.

You outlined a divergence between price (on the lows) and the tdi - as I would have drawn it earlier - before I read the John Hayden Book.

I plotted the "divergence line" on close price - as the tdi is based on close price too. And in that view there is no divergence.

Now I am in doubt again what is the correct way. From the logical point of view I would compare apples with apples - that would be the John Hayden way. But while you outlined it on the other way, I think you would have your reason for that.

=> What is your experience especially on situations with long bars / wicks? Why do you plot it on the lows?
Or is my view even too narrow, because of divergences are in any case no exact science?

Thank you
fxfox
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fxFox (all times in my charts are GMT+1)
Quoting fxFox.mb
{quote} Hi emmanuel7788, thanks for all your comments and efforts in this thread. Processing the last 20 pages after holiday time I stumbled over one of your gold charts. My question (it is not a really new question) is about the divergence on your H4 chart - please excuse - I modified your chart a little. You outlined a divergence between price (on the lows) and the tdi - as I would have drawn it earlier - before I read the John Hayden Book. I plotted the "divergence line" on close price - as the tdi is based on close price too. And in that view...

If you look at the videos on the compassfx site, the man who created the TDI takes divergence on the lows and highs.
Quoting lastingwell
{quote} If you look at the videos on the compassfx site, the man who created the TDI takes divergence on the lows and highs.
lastingwell,

thanks for reply and you're right, but why does he?

It's not a tdi issue - it is more a general question.
Is that divergence an expression of the difference between high/low in price and close in indicator? Or is it more an expression of close of price and close of indicator? (apples compared with apples)

The high/lows in price are not considered by the indicator (only on the last bar in the RT-version while this is not closed yet - and Dean Malone i.e. does not use the RT version). Highs/lows could be miles away and have no effect on indicator value.

I.e. look at the first arrow from emmanuel. If you count on lows even that would be a bullish divergence with the low of 4.december
fxFox (all times in my charts are GMT+1)
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Reasons for entry:
Taken this trade on the signal of Synergy pro indicator, I usually trade with TMS rules most of the time and not synergy pro but this trade was fulfilling TMS rules too.
In 7 pips profit upto now
Time frame= 4 hourly
In multi time-frame every thing was down.
Fundamentals supporting short.
Big candle breaking price action after some consolidation candles
TDI cross at good angle
MBL going downwards
I am not random, U just can't think as fast as me....
Quoting fxFox.mb
{quote} lastingwell, thanks for reply and you're right, but why does he? It's not a tdi issue - it is more a general question. Is that divergence an expression of the difference between high/low in price and close in indicator? Or is it more an expression of close of price and close of indicator? (apples compared with apples) The high/lows in price are not considered by the indicator (only on the last bar in the RT-version while this is not closed yet - and Dean Malone i.e. does not use the RT version). Highs/lows could be miles away and have no...

I really don't know why he does it, I just know he does, I know the technical way of doing it is to go by the close as thats the way the rsi is set but perhaps it works this way so thats the way he uses it.
EJ moved nicely today, started off by setting a 50 pip take profit but as it was still looking good and it went through the lower trendline nicely I extended the tp to just above the ATR line. +75 pips. The last chart is what I was looking at on m5 at the same time.

Edit: There was a similar trade at 7:05 which I didn't take because for one thing I don't like Frankfurt open much and another reason was the red line of the h1 tdi was still stepping up viewing it on m5.
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Quoting lastingwell
EJ moved nicely today, started off by setting a 50 pip take profit but as it was still looking good and it went through the lower trendline nicely I extended the tp to just above the ATR line. +75 pips. The last chart is what I was looking at on m5 at the same time. Edit: There was a similar trade at 7:05 which I didn't take because for one thing I don't like Frankfurt open much and another reason was the red line of the h1 tdi was still stepping up viewing it on m5. {image} {image} {image}
Nice trades, Lastingwell!

Thanks for posting the charts.
What the mind does not know, the eyes cannot see
Quoting lastingwell
EJ moved nicely today, started off by setting a 50 pip take profit but as it was still looking good and it went through the lower trendline nicely I extended the tp to just above the ATR line. +75 pips. The last chart is what I was looking at on m5 at the same time. Edit: There was a similar trade at 7:05 which I didn't take because for one thing I don't like Frankfurt open much and another reason was the red line of the h1 tdi was still stepping up viewing it on m5. {image} {image} {image}
Great trade, well done
Give yourself a chance and trade it like it's layed out...
Quoting Armacom
{quote} After such a big candle you can often enter at a better price What is your TP1 ? {image}
My TP1 got hit at 1220
Next is at 1210
Third at 1200
I am not random, U just can't think as fast as me....
Quoting thinkpad123
{quote} My TP1 got hit at 1220 Next is at 1210 Third at 1200
Happy for you !
Don’t ever let someone tell you that you can’t do something.
Quoting Armacom
I would like price to push up to 1,6475 before we can short it {image}
I think we can get ready now
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Don’t ever let someone tell you that you can’t do something.
Short GBP/USD 15Min

Blue = Entry
Red = Stop
Green = TP 1, 2, 3

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Don’t ever let someone tell you that you can’t do something.
Quoting hoperich
I have seen a lots of good trades; however I would like to share some bad ones and would like feedback from members. The trade went into positive direction for 24pips and then reverse. I have move the SL from 50 pips to 20pips and it stopped me. The pair E/U H1. {image}
I took the same setup on eu yesterday, but I entered as per TMS rules at the OPEN of the second red candle with TDI confirmation,
SL was moved to BE after +21pips profit, exited manually for +13pips on pullback, if I hadn't exit my trade would hit BE.
don't let a positive trade go to SL.
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If you're going through hell, keep going. Winston Churchill
Quoting lastingwell
EJ moved nicely today, started off by setting a 50 pip take profit but as it was still looking good and it went through the lower trendline nicely I extended the tp to just above the ATR line. +75 pips. The last chart is what I was looking at on m5 at the same time. Edit: There was a similar trade at 7:05 which I didn't take because for one thing I don't like Frankfurt open much and another reason was the red line of the h1 tdi was still stepping up viewing it on m5. {image} {image} {image}
nice one, I was waiting for this in asia, but didn't happen until LO
If you're going through hell, keep going. Winston Churchill
Quoting fxFox.mb
Back from Xmas-holiday-time my best wishes to all participants and readers of the thread. Have a happy New Year with healthiness and personal luck. The latter is important as you can see i.e. that Michael Schuhmacher was certainly healthy but had no luck in his accident.
Hey Fox, good to see you back
Hope Michael will recover in time I stopped watching F1 after he retired
If you're going through hell, keep going. Winston Churchill
Here is one trade which could be less stress when enter in LO with Price momentum and more volatility. Hoping for 20 to 30 pips target, but trade went against 14 pips. Didn't exit as my plan was to exit at -20 pips. Finally finished with +25 pips. It is more for educational purpose and newbies to avoid trading in choppy markets.
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Entered this entry 4 hours before, and now it's +25 pips
It's good setup right?
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Quoting lastingwell
{quote} I understand you have traded a pin bar aggresively before the pin bar has been confirmed but not sure what it has to do with TMS? PA with tdi confirmation is surely what the thread is all about. PHX62 is probably one of the most accurate and pure tms traders on this thread even if he trades on H1, but even he waits till the tdi is at least pointing in the direction he thinks its going.
As you’re not sure let me elaborate for you…the way I trade TMS is “PA” @ “PPZ” + “TDI”

The Trade was based on PA & PPZ(Price Pivot Zones) – set entry just above the PB and you will see…if you look @ the chart…the entry was based on the candle after the PB.

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Yes you are right that the entry was before the TDI Cross…now on the Daily chart we are still waiting for a TDI cross …for me this will add an extra layer of Confluence to my trade (so now we have RN, PA,PPZ, TDI bull range confluence to this trade)I use PA and PPZ (Price Pivot Zones) more than TDI…TDI adds confluence and shows me 1)Market Types 2)Trends 3)Exit & Entry areas more than trade entries

The way my system trades PB’s means that a TDI cross is not needed to enter as this would bring my entry later than needed.

FYI BUOB now forming in D TF and I will be setting my entries based on a breakout of the BUOB if it fully forms by the EOD (PA)

If “your still not sure what [Entry before TDI Cross] has to do with TMS” …you will find multiple trade examples in this thread where entries are before a TDI Cross…see one example below…(you will find these entries are first entered due to “PA” @ “S/R levels” + then the “TDI Cross” is seen…position building techniques).

Quoting emmanuel7788
{quote} {quote} {image} Several 4H later, {image} But when you trade Price Action, you will get into the market well before the burst in price relative strength... i.e. before the TDI cross over . When you see the TDI cross over in a breakout situation, you are late and you are chasing the tail-end of the breakout candle. When you can consistently identify the Support and Resistance and use them consistently, that will lead you to CONSISTENCY in your trading results.Is this complicated?
Quoting Imi
{quote} I took the same setup on eu yesterday, but I entered as per TMS rules at the OPEN of the second red candle with TDI confirmation, SL was moved to BE after +21pips profit, exited manually for +13pips on pullback, if I hadn't exit my trade would hit BE. don't let a positive trade go to SL. {image}
Thanks Imi. This is exactly what I want to achieve and I am getting better in accepting small loses. But again, I need little bit more practice and time to monitor my trades. What do you think about EA used by phx62. Do you have any experience with CaveManager to manage your trades? Another thing as I was discussing with Helanka earlier, we should aim for 20 to 30 pips profit during NY/Asian and 50 pips in LO. It is great that I am getting advice from traders like you who are using the similar system and they are good in it.

NY/Asia -- TP 20 to 30 pips and move SL to BE after 10 pips (Do you think 10 pips is too close and we should keep it 21 pips anyways)
LO -- TP 50 pips and move SL to BE after 21 pips

Regards, hoperich
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