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Trading Made Simple

  • #29,161
  • Jan 14, 2014 10:33am Jan 14, 2014 10:33am
Quoting lastingwell
Now you see what can happen if you're not fast enough on the draw. Missed the tp by 0.9 pips then had to wait another 7 hours for it to reach it Actually the only reason I left it was because I already reached my pip target with the AU trade this morning and this one was safe at +1 so thought I might as well let it go. {image}
Same thing happened to my asian session trade, tp missed by 0.1, I was confident it would keep going. So much so that I forgot to reenter long at london open, lol... Could have been a very good day. I have to settle for a good day now.
  • #29,162
  • Jan 14, 2014 10:35am Jan 14, 2014 10:35am
Quoting WDays
{quote} Same thing happened to my asian session trade, tp missed by 0.1, I was confident it would keep going. So much so that I forgot to reenter long at london open, lol... Could have been a very good day. I have to settle for a good day now.

Nothing wrong with a good day.
  • #29,163
  • Jan 14, 2014 11:52am Jan 14, 2014 11:52am
Looks like many members had a good day today, and had taken the asia setup, (which was an early bird special for me)
and also the continuation in LO.
My second trade today was taken in NY session, it was going really slow, but finally made it to TP.
I also like to refer to Emmanual's TIMING post here http://www.forexfactory.com/showthre...1622&page=1455 #29,093
you could witness the exact same happened today one hour prior NY open.
Attached Image (click to enlarge)
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If you're going through hell, keep going. Winston Churchill
  • #29,164
  • Jan 14, 2014 12:09pm Jan 14, 2014 12:09pm
Today was such a good day :O The uptrend was easily dividable into three 50 pip portions.
  • #29,165
  • Edited 1:05pm Jan 14, 2014 12:52pm | Edited 1:05pm
Quoting Phx62
{quote} {quote} The 5 SMA is fine if you are looking for conservative, safe entries. I find that using candle formations, price action and TDI are enough for me to enter the trade on the 1st or 2nd candle. Each of us have to do what is best for us psychologically and emotionally. hoperich....you stayed in the trade and I re-entered at LO because the crossing of green over both red and gold is a strong indication that price will continue up to resistance or until news or other events stop it....currently up 34 pips and locked in at BE. Success to...
Thank you Phx62. I stayed in trade and instead of closing with few pips loss, I end up making +48 pips. Thanks for all your help.
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  • #29,166
  • Jan 14, 2014 1:47pm Jan 14, 2014 1:47pm
Quoting WDays
Today was such a good day :O The uptrend was easily dividable into three 50 pip portions.
TMS is great for wide range side ways market type other then trending market type.

now we watch EJ hit 142.52 ... let's see the pullback before it decide the next 4H.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #29,167
  • Jan 14, 2014 1:52pm Jan 14, 2014 1:52pm
Quoting Imi
Looks like many members had a good day today, and had taken the asia setup, (which was an early bird special for me) and also the continuation in LO. My second trade today was taken in NY session, it was going really slow, but finally made it to TP. I also like to refer to Emmanual's TIMING post here http://www.forexfactory.com/showthre...1622&page=1455 #29,093 you could witness the exact same happened today one hour prior NY open. {image}

141.84 was historical support & resistance too ... which need to be broken before it can rise further. Looks like the NY buyers did jut that.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #29,168
  • Jan 14, 2014 1:58pm Jan 14, 2014 1:58pm
Quoting irishtoffy
Hey, I have been experimenting with an MPTM EA this week to see what it does, how it does it, etc. I thought I had it figured out and this was just a test to check. But I have a few questions if anyone can answer it would help greatly! Is this (the file I attached) set up correctly for a 50 pip JSL? Is it set to 'start' and jump the SL to BE after a 50 pip positive move? Is there an initial 'emergency SL' set on the EA? If so, what is it? Or how can I set this? How does the EA moving SL's appear on my MT4 Account History screen? For example in the...

all Expert Advisor EA run in your MT4 Terminal only therefore you need to have your PC running all the time.

if you use market order then you must set the MTPM Magic Number to 0 (zero).

there are a whole lot of settings which you need to read the manual to know the description.

if you tell me exactly how you want to manage your trades, I will create a set file for you.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #29,169
  • Jan 14, 2014 2:14pm Jan 14, 2014 2:14pm
Quoting hoperich
{quote} Thank you Phx62. I stayed in trade and instead of closing with few pips loss, I end up making +48 pips. Thanks for all your help. {image}

I am still in that LO trade with 100 pips locked in....all based on the setup I described on my posted chart.....when there is a cross of the TDI green over the red AND the gold lines AND price is moving out of an overbought or oversold area FOLLOWING a pullback candle reversal formation, the market often makes a big move unless the is a lot of resistance in the way. Nice trades today everyone......
  • #29,170
  • Jan 14, 2014 2:18pm Jan 14, 2014 2:18pm
Good afternoon everyone!

Entered at the first blue candle. Saw TDI cross and price reversal(?).
Thinking how high can it go?

What do you think about the trade overall?
Attached Image (click to enlarge)
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  • #29,171
  • Jan 14, 2014 2:28pm Jan 14, 2014 2:28pm
Quoting snshne
Good afternoon everyone! Entered at the first blue candle. Saw TDI cross and price reversal(?). Thinking how high can it go? What do you think about the trade overall? {image}
Good Morning from where I am:


first it need to ovecome 1.6400 then 1.6465 would make a godd retracement trade target.
news later on may help today late starter.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #29,172
  • Jan 14, 2014 3:45pm Jan 14, 2014 3:45pm
Quoting irishtoffy
Hey, I have been experimenting with an MPTM EA this week to see what it does, how it does it, etc. I thought I had it figured out and this was just a test to check. But I have a few questions if anyone can answer it would help greatly! Is this (the file I attached) set up correctly for a 50 pip JSL? Is it set to 'start' and jump the SL to BE after a 50 pip positive move? Is there an initial 'emergency SL' set on the EA? If so, what is it? Or how can I set this? How does the EA moving SL's appear on my MT4 Account History screen? For example in the...

this show you how a EA WORK .
COPY THIS TO YOUTUBE
How to Download and Install the RoboMiner EA.
  • #29,173
  • Jan 14, 2014 4:13pm Jan 14, 2014 4:13pm
Finally exited my FO EJ H1 following price consolidation and the NY session coming to a close. A very profitable trade......
Attached Image (click to enlarge)
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  • #29,174
  • Jan 14, 2014 5:03pm Jan 14, 2014 5:03pm
Quoting Phx62
Finally exited my FO EJ H1 following price consolidation and the NY session coming to a close. A very profitable trade......{image}

Perfection
  • #29,175
  • Jan 14, 2014 5:55pm Jan 14, 2014 5:55pm
Quoting Oldie
Would one of the experts like to comment on why this trade did not work out - to me it looked like a strong trade. Strong signal candle below the 5 EMA, TDI below the Red & Yellow & Stochs. pointing down. Opened a Sell trade in Tokyo session with a 50 pip SL, went 18 pips higher to 68 pips above entry. Cheers Oldie {image}
Many thanks to Lastingwell & Stone FX for tking the time to answer my query. Cheers Oldie
  • #29,176
  • Jan 14, 2014 5:59pm Jan 14, 2014 5:59pm
Quoting Phx62
Finally exited my FO EJ H1 following price consolidation and the NY session coming to a close. A very profitable trade......{image}
Amazing trade. It is a perfect example of Entry/Exit/Patience and should be used as an example for all newbies as well as experience traders in TMS. Thanks for posting.
  • #29,177
  • Jan 14, 2014 6:00pm Jan 14, 2014 6:00pm
Quoting Phx62
Finally exited my FO EJ H1 following price consolidation and the NY session coming to a close. A very profitable trade......{image}
Phx62:

Fanstatic trade.

Looks like 142.52 is holding well now.
We shall see if Tokyo will break this and bring EJ higher.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #29,178
  • Jan 14, 2014 6:23pm Jan 14, 2014 6:23pm
Quoting emmanuel7788
{quote} {image} Decided to scale out +80pips before NY open. TP remains. {image}

GBPAUD H4 Trade update:

Attached Image (click to enlarge)
Click to Enlarge Name: GA week 03 H4 trade update2.png Size: 35 KB


Quite usual that market pause in NY second half session. The D candle close Engulfing so I remain bullish for today. A 38% retracemnt can happen so must observe the price action in case the retracement goes too deep.

Now with trade protected at +1R, now move final Tp to previous week high and will manage from now onwards using the R-Multiple method.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #29,179
  • Jan 14, 2014 6:26pm Jan 14, 2014 6:26pm
EURNZD and GBPNZD:

If you compare these two pairs using H4 chart timeframe, which pair will you pick to trade?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #29,180
  • Jan 14, 2014 7:05pm Jan 14, 2014 7:05pm
Quoting kingdomk
I haven't been participating in the threads much due to work commitments. However I sincerely appreciate the input all you guys provide here in FF and I always review the posts every night when I return home (Thank you Emmanuel, PHX62, Bizzle, Lastingwell, WDays) I'm currently looking at EJ I can see a head and shoulders on 4hr. Price currently looks like its retesting the neckline. Does anyone else here agree? {image}
Hi kingdomk,

good that you have time at night after your day work and spen the time to trade the market. This was how I started many years ago just trading base on EOD.

the H&S on EJ H4 is not very distinct and happen over too many periods. Too many smaller peaks and troughs. There is support to suport buy setup.

regards,
EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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