Attachments: Trading Made Simple

Trading Made Simple

#29,241
Jan 15, 2014 8:24am Jan 15, 2014 8:24am

heispark
Joined Apr 2011 | Status: Hoc Etiam Transibit.... | 6,085 Posts

Quoting WDays

Disliked

{quote} I think the entry was legit, it's my exit that blows. I was dead tired after a long poker tournament and Tokyo is 2 am for me... So I just saw it go +10 in my favor, then -10 and said to myself "ahh screw it, I'm going to take this loss and sleep". I was even thinking about it most likely being a fakey (as it often happens), as I was laying down.

Ignored

I heard maintaining physical and mental health is one of the most important conditions to become a successful trader. That's often not very easy especially when I have a full time job and trade as a part-timer...

Simplicity is the ultimate sophistication - Leonardo da Vinci

#29,242
Jan 15, 2014 8:26am Jan 15, 2014 8:26am

alfis
| Joined Dec 2013 | Status: Trader | 65 Posts

Quoting emmanuel7788

Disliked

{quote} When the Asian markets (Shanghai, Hong Kong, Singapore, Tokyo, etc.) are quiet during their morning sessions until their lunch time, then when Tokyo resume trading after their sushi time, traders hands get itchy. Between Tokyo 1pm until London opens, there is 3 hours ... too many hours and traders cant sit still and do nothing. They must trade. That's when market starts to move. Take into consideration when London has DST. Back-test and you will find many trade opportunities which we can trade using TMS rules.

Ignored

Hi Emmanuel, thanks a lot.

Can I clarify something:

1. The Tokyo 5hr range is the 1st 5 hours upon the open of the Asian session right?

2. I saw some of your older posts, you've got MN Support and MN Resistance lines plotted on your charts, are those self drawn? If so what exactly are they based on?

3. Post #21196, you mentioned to always wait for candle to close to determine PA. Assuming 10 min into the open of the hourly candle, it has broken a IB + resistance setup, do you still wait for the candle to close in 50 minutes?

4. How exactly do you determine a BEEB/BUEB? I've attached a picture of what you mentioned a BUEB is and what I've always assumed a BUEB was, appreciate if you can let me know how'd you determine one.

Appreciate your help!

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#29,243
Edited 8:41am Jan 15, 2014 8:26am | Edited 8:41am

Hyperfire
| Joined May 2012 | Status: Trader | 166 Posts

Quoting imperatorfr

Disliked

Hi o/ it's a good opportunity for short ? -TDI cross with good angle -Divergence with TDI and Price -Last Blue bar is a pin bar -TDI cross 68 line. what else ? {image}

Ignored

Hello guys,

Iperator what you mean with pin bars?
I just wake up now and i have idea little bit confuse

Thank's

EDIT : my mind wake up and remember what is a pin bar, thank's anyway !

Don't be delicated, be vast and brilliant ! [Brent Smith]

#29,244
Jan 15, 2014 8:28am Jan 15, 2014 8:28am

heispark
Joined Apr 2011 | Status: Hoc Etiam Transibit.... | 6,085 Posts

Quoting emmanuel7788

Disliked

{quote} Good trade! MTF is ... Sometimes useful... but most times stressful ...

Ignored

Thanks Emmanuel. It's lovely to see you can spend more time with us from this new year. I really appreciate it.

Simplicity is the ultimate sophistication - Leonardo da Vinci

#29,245
Jan 15, 2014 9:02am Jan 15, 2014 9:02am

lastingwell
Joined Jan 2013 | Status: Trader | 1,657 Posts

Quoting alfis

Disliked

{quote}4. How exactly do you determine a BEEB/BUEB? I've attached a picture of what you mentioned a BUEB is and what I've always assumed a BUEB was, appreciate if you can let me know how'd you determine one. Appreciate your help! {image}

Ignored

That example you're showing is more suited to stock trading because the open price is lower than the whole body and both wicks of the previous candle, in forex you will very rarely get that unless at a weekend. Take a look at the candle pattern pdf Erol put together in this post. http://www.forexfactory.com/showthre...97#post7188097

#29,246
Jan 15, 2014 9:11am Jan 15, 2014 9:11am

fxFox.mb
| Joined Oct 2013 | Status: Trader | 256 Posts

EURJPY H1 short attempt this morning. On break of TOK_5H I went short.

Afterwards we had the discussion with emmanuell7788 who indicated the very small candles, a low momentum up to LO and not so good TDI-bounces and his advise to wait.
Because of I was already short at this time I stayed in and followed the PA closely for a quick exit if PA will go against me.

Hours later now I could take a hardly earned profit of +33 pips on this slow moving EURJPY. Exit shortly before 38% fibo, what I thought will not be reached.

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fxFox (all times in my charts are GMT+1)

#29,247
Jan 15, 2014 9:24am Jan 15, 2014 9:24am

alfis
| Joined Dec 2013 | Status: Trader | 65 Posts

Quoting lastingwell

Disliked

{quote} That example you're showing is more suited to stock trading because the open price is lower than the whole body and both wicks of the previous candle, in forex you will very rarely get that unless at a weekend. Take a look at the candle pattern pdf Erol put together in this post. http://www.forexfactory.com/showthre...97#post7188097

Ignored

Interesting...My perception of Engulfing bars has always been like that, since I started reading about PA through Babypips and that's what I was always taught and assumed.

Thanks for the heads-up!

#29,248
Jan 15, 2014 9:31am Jan 15, 2014 9:31am

lastingwell
Joined Jan 2013 | Status: Trader | 1,657 Posts

Quoting alfis

Disliked

{quote} Interesting...My perception of Engulfing bars has always been like that, since I started reading about PA through Babypips and that's what I was always taught and assumed. Thanks for the heads-up!

Ignored

Give yourself this exercise, go through the charts and look for bars that the first candle has wicks both top and bottom and see how many of the engulfing bars engulf all of it by opening lower/higher than the previous bar.

#29,249
Jan 15, 2014 10:28am Jan 15, 2014 10:28am

pundit78
Joined Jan 2013 | Status: Trader | 1,630 Posts

Short EURAUD at 1.5243 and running, Target - 1.5161

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#29,250
Jan 15, 2014 11:46am Jan 15, 2014 11:46am

CompassDude
| Joined Jan 2014 | Status: Trader | 14 Posts

Quoting pundit78

Disliked

Short EURAUD at 1.5243 and running, Target - 1.5161 {image}

Ignored

Looks like a good potential trade

#29,251
Jan 15, 2014 12:37pm Jan 15, 2014 12:37pm

snshne
| Joined Sep 2013 | Status: Trader | 32 Posts

Quoting pundit78

Disliked

Short EURAUD at 1.5243 and running, Target - 1.5161 {image}

Ignored

I am in that trade also, best of luck to us

#29,252
Jan 15, 2014 2:10pm Jan 15, 2014 2:10pm

Fx94
| Joined Apr 2013 | Status: Trader | 146 Posts

Hello traders,

Made this two trades. Please take a look at them. Now I took a little break to get some silence with tradin. My frustration is over and after this results i am going back to learn more and more to become better

Trade 1: Made +31,2 pips. If i have entered on the BEGINNING of the blue candle my TP would of +50 pips would have been hit in one candle. Reasons for entry were the cross of the TDI and bounce from last weeks low. Original TMS rules

. What did i wrong ? Yes i know it. Its the eternal problem: PATIENCE !

Trade 2: Made +20 pips. Firstly i saw a divergence between the price and the tdi green line. Then i saw the 3 shorter wicks before my trade entry. TDI cross was a little bit about 50 line. I went short and waited. I closed the trade some time ( about 20 min) after the news appeared. When the news appeared the SL was at the point: BE + spread.

But please take a look at this aspect: If I have entered on the original TMS rules:

a) H4 tf
b) red candles closed under 5 SMA
c) no small candle
d) TDI cross

....I would have made a lost trade. Please explain me this question.
And i have a question about TP. Where should i put it ? Is there a indicator or something? ATR / ADR ....?
What about this red lines some of the traders put into their charts ? They symbolise support & resistance but i don´t know how to get them ?

Best regards,

FX94

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#29,253
Jan 15, 2014 2:41pm Jan 15, 2014 2:41pm

redfan
Joined Sep 2011 | Status: Trader | 1,252 Posts

Quoting pundit78

Disliked

Short EURAUD at 1.5243 and running, Target - 1.5161 {image}

Ignored

can I ask you a question?

did you get in this trade before the tdi cross the red line

or the candle close.

because this candle is a pullback candle.

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#29,254
Jan 15, 2014 3:56pm Jan 15, 2014 3:56pm

zelenko
| Joined Nov 2010 | Status: Trader | 341 Posts

Quoting emmanuel7788

Disliked

{quote} Please go to: Post #18,881 Thank You.

Ignored

you are very very fantastic thank you veryyyyyyyyyyyyyyyyy much

small favor : is there is an illustration to the setting if not it's not a problem

#29,255
Jan 15, 2014 4:51pm Jan 15, 2014 4:51pm

paytheman
| Joined Jan 2014 | Status: Trader | 1 Post

Hello All,

I discovered this thread about two weeks purely by accident. I was saddened to learn that the originator of this thread, eelfranz, has passed away. I wanted to thank him for all the great work and countless hours he has devoted to this thread. I am sure he would be happy knowing the impact he has had on so many and how great this thread continues to be. In a way, this thread is a testament to him and should keep going strong to honor him.

In his first post, eelfranz

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strongly recommended all newcomers to read the entire thread (I am sure he didn’t count on it approaching 30,000 posts. I read the first 50 pages and the last 50 pages before I decided to write my first post. His advice was spot on as many of my question were asked and answered by being patient and reading the thread.

At this point, I feel that I have a good grasp of the concept regarding when to enter and exit. I also recognize that I am nowhere as knowledgeable as some of the members on this thread. I have learned so much from emmanual7788 and many others.

I do have one question that I am hoping you can help with: how to deal with sideways ranging markets when the TDI is crossing back and forth. I know it’s easy when you scroll back to see this on the chart but when you are in the middle of it, it’s hard to know. I have done quite a bit of simulated trading on MT4 (pressing F12 to see one bar at a time) and I do catch the big runups but I do get tripped up in these ranging markets. I am attaching an image for all.

I have highlighted the ranging market. The red vertical line is where I would go short and the green line represents where I would go long.

Thank you all.