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Trading Made Simple

  • #30,301
  • Feb 3, 2014 8:11am Feb 3, 2014 8:11am
Quoting WDays
{quote} Not every setup is a setup... What type of market are you trading?
What do u mean Dear wdays?!
I just want to know that what was wrong! or it was a good setup but was not lucky!
  • #30,302
  • Feb 3, 2014 8:13am Feb 3, 2014 8:13am
Quoting farhad10
{quote} What do u mean Dear wdays?! I just want to know that what was wrong! or it was a good setup but was not lucky!
Emmanuel keeps bringing up three different market types; which type is the current market like? It's not the setup per se that is wrong.
  • #30,303
  • Feb 3, 2014 8:18am Feb 3, 2014 8:18am
Quoting WDays
{quote} Emmanuel keeps bringing up three different market types; which type is the current market like? It's not the setup per se that is wrong.

Dear Wdays;

Eurj is in a down trend market at H1 and H4 as u see!
So it could be a continuation of the down trend. so I think that it was not wrong anymore!
  • #30,304
  • Feb 3, 2014 8:19am Feb 3, 2014 8:19am
Quoting farhad10
{quote} Dear Wdays; Eurj is in a down trend market at H1 and H4 as u see! So it could be a continuation of the down trend. so I think that it was not wrong anymore!
Have a look?
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  • #30,305
  • Feb 3, 2014 8:21am Feb 3, 2014 8:21am
Quoting emmanuel7788
{quote} Hi Valentinik87, I took a look at the MN and W1 charts and I see a good trade oppotunity for this month. When we are trading H4, we must consider the volatility of this pair and know where to place our stop loss. Manage your trade well. regards, EMMANUEL
Thanks Emmanuel for considering a young and inexperienced trader like me...my first TP is @ 1.53040, let's see!
  • #30,306
  • Feb 3, 2014 8:28am Feb 3, 2014 8:28am
Quoting WDays
{quote} Have a look? {image}
Yes the channel is OK! but it is not a authentic Chennel if u look at H4 !
I know what u mean but the reasons I've said are reliable to a good setup!
  • #30,307
  • Feb 3, 2014 8:33am Feb 3, 2014 8:33am
Quoting farhad10
{quote} Yes the channel is OK! but it is not a authentic Chennel if u look at H4 ! I know what u mean but the reasons I've said are reliable to a good setup!
You're missing my point, this is a very narrow range. It can't be seen on H4, because this is price consolidating after the 250 pips drop. You just entered in this tight range. Could have waited for a breakout, or could have entered much earlier using a smaller timeframe. I just decided to stay out today.
  • #30,308
  • Feb 3, 2014 8:39am Feb 3, 2014 8:39am
Quoting WDays
{quote} You're missing my point, this is a very narrow range. It can't be seen on H4, because this is price consolidating after the 250 pips drop. You just entered in this tight range. Could have waited for a breakout, or could have entered much earlier using a smaller timeframe. I just decided to stay out today.
Yes u are right about the range and consolidation!
But that candle I point to, could be the end of this range market type and be the continuation of the downtrend.

Thank u for ur advices
Best regards
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  • #30,309
  • Feb 3, 2014 9:14am Feb 3, 2014 9:14am
Quoting farhad10
{quote} Yes u are right about the range and consolidation! But that candle I point to, could be the end of this range market type and be the continuation of the downtrend. Thank u for ur advices Best regards {image}
No, as I have shown you it is within it. this current candle however broke it.
  • #30,310
  • Feb 3, 2014 10:18am Feb 3, 2014 10:18am
EJ- 1 hour

Pullback candle, bounce on TDI!

Main Trend down +57 pips
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Give yourself a chance and trade it like it's layed out...
  • #30,311
  • Feb 3, 2014 10:18am Feb 3, 2014 10:18am
Mixed day - I expected a retracement of the EUR - both long signals turned in a loss. Reentered in trend direction and got the winners.

EURAUD H1
Looser this morning -30 pips (see previous post)
Now a winner with +53 pips

EURJPY H1
Looser this afternoon -18 pips
Now a winner with +47 pips
Attached Image(s) (click to enlarge)
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fxFox (all times in my charts are GMT+1)
  • #30,312
  • Feb 3, 2014 11:30am Feb 3, 2014 11:30am
Quoting emmanuel7788
{quote} Hi pipsit, I look for trade setups in H4 and D only. Using H1 and M15 is to get into the market with a better entry price which will give me a much smaller initial SL. In the case of EU right now, ..... Hope is this helps. regards, EMMANUEL

Thanks Emmanuel it helped ! I made 18 pips on the E/U pair today and got more confident

Quote
On the other hand I dont understand why EU is the weapon of choice for a lot of you guys

Hi WDays

You are right with EU as a choice weapon butt I feel more safe with this " slow mooving" pair when I test a new method

Regards

Pipsit
  • #30,313
  • Feb 3, 2014 12:38pm Feb 3, 2014 12:38pm
Quoting spurxiii
Hi all getting back into trading after a long break. I'm long on E/U (TDI cross on H4 and its hit the support trendline). I'm short on USDCHF also on TDI cross in H4. Fingers crossed. Stops are a bit below tops and bottoms
Woke up and closed E/U for +18 pips and U/C for +38 pips
  • #30,314
  • Feb 3, 2014 1:31pm Feb 3, 2014 1:31pm
While doing my top down analysis this weekend, I noticed that the ADR for G/J has been running about 215 pips per day for the past 10 days (very similar to the EU/AU that I traded last week). When I printed out the upcoming news releases for the week, I saw there was a high impact GBP manufacturing report scheduled for the second hour of London. I decided to watch that chart (G/J) this morning and once price broke below the LO candle, I entered a trade. The TDI had already crossed during the Asian session but I was asleep at that time. On the calendar, I also noticed the high impact US manufacturing report and so when price broke below the setup candle and there was a cross of the TDI after the news announcement, I entered that trade also. A very good morning.
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  • #30,315
  • Feb 3, 2014 2:02pm Feb 3, 2014 2:02pm
Quoting Phx62
While doing my top down analysis this weekend, I noticed that the ADR for G/J has been running about 215 pips per day for the past 10 days (very similar to the EU/AU that I traded last week). When I printed out the upcoming news releases for the week, I saw there was a high impact GBP manufacturing report scheduled for the second hour of London. I decided to watch that chart (G/J) this morning and once price broke below the LO candle, I entered a trade. The TDI had already crossed during the Asian session but I was asleep at that time. On the calendar,...
Thanks phx62 for the chart and your analysis, inspiring as usual, i always look forward to your posts, my goal is to trade as you do. Another 2 years working on my mind set should do it!
  • #30,316
  • Feb 3, 2014 2:12pm Feb 3, 2014 2:12pm
Quoting farhad10
Dear Phx62; Most of ur trades are after the break of the L/H of the previous candle I show these trades in the pic with withe circles Now I have a question: Many times we see that it breaks and goes for about some pips and then it becomes a shadow and reverse! how u understand that it will continue to it's down/up trend and goes for more pips in ur favorite? Thank u Best regards Note: The 2nd pic below is my trade that taken now! Price break below the low of the prev candle and break the prev weekly&daily low Is it OK on the basis of your trades?...

farhad,
Perhaps you should go back and read Big E's, Emmanuel's posts, and some of my previous posts,. The answers to this and many other questions about how to trade this system have been answered over and over.
Regarding my chart where you circled several entries, you will notice that none of the trades had a closed blue candle or consolidation area. That would be your first clue. When I enter a trade, I watch it closely until it reaches 20 to 25 pips profit. I then adjust my SL to BE. After that point, I may get stopped out at BE or I will take profit at 50 or 100 or 150 or occasionally at 200 pips based on how the market is moving and the trade is progressing. Are the candles long with no backend wicks? Are the candles staying the same color? Was the trade taken in the direction of the overall trend on the higher time frames? When can I expect a correcting retracement before price continues, based on recent price movements for this pair? Are there any high impact news releases that may affect the trade? Are there any "sore thumb" higher time frame resistance areas in the path of the continuing trade? Is price approaching the 200 EMA? You, as a trader, have to determine the importance of each of these, and other factors, to determine how long you will stay in a trade. You have put in the time and study to gain confidence in your trading plan and learn what to expect for each pair you trade. You can expect to spend hundreds, or even thousands of hours of study, back testing and forward testing until the answers to these questions become second nature to you. Then you can become a successful trader.
As far as the your entry on the second chart, the best TMS entry would have been at the open of the candle you circled.
  • #30,317
  • Feb 3, 2014 3:02pm Feb 3, 2014 3:02pm
Hello traders,

Does someone know how to adjust in MT4 the triple screen methode (D1, H4, H1) for more trading pairs. Until now i had just the triple screen methode for E/J. But now i would like to have it for E/J , G/J , G/U , EUR/AUD. I would like to switch between this triple screen displays for each pair.
Do you have any solution ?

Best regards,


Fx94
  • #30,318
  • Feb 3, 2014 3:11pm Feb 3, 2014 3:11pm
Quoting Fx94
Hello traders, Does someone know how to adjust in MT4 the triple screen methode (D1, H4, H1) for more trading pairs. Until now i had just the triple screen methode for E/J. But now i would like to have it for E/J , G/J , G/U , EUR/AUD. I would like to switch between this triple screen displays for each pair. Do you have any solution ? Best regards, Fx94
Hi FX94,

I think if you save it as a profile you can then setup another pair and save that profile and so on, then you just open different profiles for different pairs.

Attached Image


Hope this is what you mean.

Regards

Adam
  • #30,319
  • Feb 3, 2014 3:37pm Feb 3, 2014 3:37pm
Quoting adamjhdavis
{quote} Hi FX94, I think if you save it as a profile you can then setup another pair and save that profile and so on, then you just open different profiles for different pairs. {image} Hope this is what you mean. Regards Adam

Wonderful Thank you very much !!
  • #30,320
  • Feb 3, 2014 4:05pm Feb 3, 2014 4:05pm
Quoting Phx62
{quote} farhad, Perhaps you should go back and read Big E's, Emmanuel's posts, and some of my previous posts,. The answers to this and many other questions about how to trade this system have been answered over and over. Regarding my chart where you circled several entries, you will notice that none of the trades had a closed blue candle or consolidation area. That would be your first clue. When I enter a trade, I watch it closely until it reaches 20 to 25 pips profit. I then adjust my SL to BE. After that point, I may get stopped out at BE or I...

Dear Phx42;

Thank u so much for ur advices. As u see the current time of that trade, it was a bit aggressive. but it goes downward again as I expect!
But now, I want to know the differences between the green setup and the blue one?
And please tell me what do u mean by : "you will notice that none of the trades had a closed blue candle"

Thanks again for ur advices.
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